1. Assume that you were consulted by the Premier and the Chief Health Officer of the Province in mid-February when the first realizations occurred that the CVOID virus might become a serious pandemic. Assume that they asked your help in creating a COVID risk management plan. Lay out the SPECIFIC steps that you would advise them to take to develop such a plan. Note: I am not asking you for the specific implementation steps – just the set of questions you would suggest that they need to ask, and the factors they would need to consider before choosing their specific risk management practices. For example, I am not asking you to suggest a lockdown (as a prime example), but instead I am asking you to lay out the decision steps they would need to consider before deciding on a lockdown (or how to staff emergency rooms etc.) NOTE: this assignment might take you some time to think through the issues. This is not a good assignment to leave to do the night before it is due.
2.Look up the article: Aabo, T., Fraser, J.R.S., Simkins, B.J., “The Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro One”, Journal of Applied Corporate Finance, Vol. 17, No.3, pp 62-76, 2005 . Answer the following questions about how Hydro One went about implementing Enterprise Risk Management.
a.Were Hydro One successful in implementing ERM? Explain your answer.
b.Explain what specific actions that you believe were very well chosen or implemented.
c.Explain what specific actions tha you believe were not very well chosen or implemented.
d.Do you believe the transformation of the CRO role was a good one? Explain.