RISK MANAGEMENT PLAN

FIN 33

SUBMITTED BY:

RONIE A. OLARTE
 PROCESS OF RISK MANAGEMENT

STEP 1 ESTABLISHING THE CONTEXT

The Filipino Family centers on its members. There are many things
they cherish together. These bonds are what makes up for what the Filipino
really is. Most Filipino families go out together, going to church, bonding with
each other and striving for happiness. Our family is composed of all kinds of
people. Family is not limited to relatives. These can be maids, pets, friends
and so much more. Most of the time we go out is not just with our primary
family but also with other relatives, which make it seem like a family reunion
every time. The Filipino family today is very crucial to the society since it is the
main thing that defines us as Filipino. Our lives revolve around our family, it
gives us strength to carry on with our lives, it gives us encouragement on
every failure and it gives us love with no conditions.

Maintaining a harmonious relationship within the family is a big

challenge in our society today. The following are some of the factor in which it
can affect our harmonious relationship with our family:

Marital Disagreement - Conflicts in the family arise because of

interfering in-laws and disagreement in financial matters. We, Filipinos
are famous in terms of strong family ties because we are fond in the
concept of extended family which can cause conflict.
Economic Pressure it is the most common reason why conflict arise
in the family. Every parent want to give their children the best things
they could but because of the constraint of money they tend to sacrifice
their time in exchange for the earnings they can get for their family to
survive in day to day living.
Lack of communication these factor is a huge impact to the
relationship of the family. it is usually caused by busy schedule. These
is a crucial factor since it can destroy harmonious relationship within
the family.
Differences it pertains to the philosophy or belief of a person.
Growing up with your family doesnt indicate that all of your philosophy
or belief will be the same as what they believe in. there are also
 external factors that can contribute with what you beliefs. Having
different principles with your family is a huge contributor for a conflict to
occur.

Those factors will be our guidelines in order for us to properly evaluate and
make conclusion then finally a recommendation to at least mitigate or
preferably avoid those risks.

STEP 2 IDENTIFICATION OF POTENTIAL RISKS

There is no such thing as perfect in these world. We all have flaws. We

commit mistakes in our day to day living. We all have different philosophy and
belief that sometimes can make conflict to others even in our own family. the
following are some of the potential risk that can affect the harmonious
relationship in the family:

POTENTIAL FAMILY RELATIOSHIP RISKS

When there is more than one child in a family,
siblings rivalry happens to be a common
siblings rivalry phenomenon. These is normal but when it is not
properly addressed in the family these can lead
to a serious problem.

like the other one it is common to all of the

conflict between the spouses family but without a proper handling of these
problem it can lead us to a broken family.

first time parents find it difficult to cope with the

lack of parenting skills
demands of their growing children because they
feel that they do not possess the skills and
methods needed to guide them. It is an
experimental journey for the parent that can
make or break the harmonious relationship in
the family.

The formation of children in solid family values is

made difficult when parents swing from
emotional maturity
extremes of permissiveness and
authoritarianism.
 lack of family time Bonding with our family is the most effective way
of having a harmonious relationship however if
these also lack then it is a great contributor on
destroying a harmonious family relationship.

These problem really affects our relationship

financially unstable
with our family especially for the parent because
lack of money can raise disagreement for both
parties. It can also cause mood swings for the
parent that can affect with their relationship to
their children.

STEP 3 RISK ASSESSMENTS

The table below will show us the level of impact and likelihood. Also on
how to mitigate each risk.

POTENTIAL RISK IMPACT LIKELIHOOD MITIGATION/SUGGESTION

respect each other

differences and make your
sibling not an enemy/rival
siblings rivalry Medium High but rather a companion or a
best friend in life. Talk often
to each other and open up
your issues in a good way.

understand each other

flaws. Continue to love each
other despite of the trials
conflict between the both of you are facing.
High Medium
spouses Understand and listen to
each other side. Treat
yourself as one in every
decision you will be making.

try to get help from elders

lack of parenting who have gone raising their
High High children. Attend seminars or
skills
lectures relating to the
proper raising of children.
Never stop learning.
 try to open up with your
emotional maturity Medium Medium partner on how to handle
growing children. Always
think to make a balance
decision.

try need a time for your

family. Atleast try to make
your dinner complete with
lack of family time High High your family. As much as
possible attend to all of the
important event of the
member of the family. If you
have a vacant make it as a
family day.

work hard to earn. Make a

financially unstable Medium High daily budget to efficiently
spend the scarce resources
you have.

Conclusion

Everyone's family has conflict every once in a while whether you are
family through blood or through marriage. Obviously, each problem requires a
different approach, but it can help if you keep a few tips in mind. Serious
problems may require professional help, but as long as you keep the lines of
communication open, you may be surprised at how genuine effort can help
get through misunderstandings, hurt feelings and tough times.

One of the common conflicts is the disagreements between the parents

and the children. When there is more than one child in a family, siblings
rivalry happens to be a common phenomenon. Last but not the least is the
conflict between the spouses. The husband and wife share a common life and
they also are always in conflicting situations. To iron the differences between
the family members, you have to learn how to overcome conflicts in the
family.
 You can take the first step to overcome conflicts in the family by
pondering over the root of the differences between the members. Children
always complain that their parents don't understand them. On the other hand
parents usually chide that their children disregard them. Similarly, a kid could
be dissatisfied when his/her parents show special concern to another child
more than him/her. If is not handled properly, conflict can be a cause of family
disintegration.

To overcome conflicts in the family, you have to learn how to manage

conflicts. In every family there is always a different strategy to solve it. Just
remember to have child like faith and mature obedience then everything will
be going smooth.

Recommendation

Every family is unique thats why managing family problems will

depend upon the family itself. There is no such a right formula in solving these
problems but there are some tips that can help you. One of it is
communication. it is very important aspect of family life, and more importantly
conflict management. When there is a rift between the members, talking will
help reduce tension. You must not only share your thoughts, but also be
willing to listen to others views. You must also deal with complicated life,
everyone has his/her own vision. Every day your life appears more
challenging, and you are burdened with stress. Nevertheless, you must not
impose your attitudes and thoughts on other people. Imposing you views not
only builds up conflict but also makes your life stressful. Sometimes to
overcome conflict, you have to maintain a certain distance with the members.
The space you give to your family members will help them manage stress,
and in the long run you will be able to overcome conflicts in the family.
Tolerance is also significant to manage conflict between the spouses. Even
though the wife may dislike her hubbys certain behavior, or the husband hate
certain things in his wife, they both must be tolerant to such things. To
manage conflicts and overcome conflicts in the family, you have to be tolerant
to other members. But the most important to all is to LOVE, LOVE, LOVE.