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    Operations & Training Risk Management Plan: Objective

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    Rikunj 85
    This document outlines a risk management plan for an operations and training project. It identifies two main risk types: going over budget and falling behind the training schedule. For each risk type, it lists potential risk scenarios, assesses the risk level, and proposes mitigation plans. It also includes appendices defining the probability and impact of risks, and a probability-impact matrix for assessing inherent risk levels.

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    Operations & Training Risk Management Plan: Objective

    Uploaded by

    Rikunj 85
    25 views3 pages
    This document outlines a risk management plan for an operations and training project. It identifies two main risk types: going over budget and falling behind the training schedule. For each risk type, it lists potential risk scenarios, assesses the risk level, and proposes mitigation plans. It also includes appendices defining the probability and impact of risks, and a probability-impact matrix for assessing inherent risk levels.

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    This document outlines a risk management plan for an operations and training project. It identifies two main risk types: going over budget and falling behind the training schedule. For each risk type, it lists potential risk scenarios, assesses the risk level, and proposes mitigation plans. It also includes appendices defining the probability and impact of risks, and a probability-impact matrix for assessing inherent risk levels.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    25 views3 pages

    Operations & Training Risk Management Plan: Objective

    Uploaded by

    Rikunj 85
    This document outlines a risk management plan for an operations and training project. It identifies two main risk types: going over budget and falling behind the training schedule. For each risk type, it lists potential risk scenarios, assesses the risk level, and proposes mitigation plans. It also includes appendices defining the probability and impact of risks, and a probability-impact matrix for assessing inherent risk levels.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Operations & Training Risk Management Plan

    Author: Project Manager Created: Mar 1


    Status: Draft / Final Updated: Mar 31

    Objective
    The objective of this document is to identify the potential risks and how to deal with them.

    Executive Summary
    The project goal is to identify the risks and find the approaches to mitigate them based on their
    level of severity. The milestone could be the following. First, we list budget risks. Second, we
    assess the impact of each budget and schedule risks. Lastly, develop mitigation plans for budget and
    schedule risk scenarios. Here, we are already aware that there are potential risks including budget
    risks and schedule risks.

    RISK TYPE ONE: Going over the project budget

    Scenario Risk to Mitigation Plan


    project
    (L/M/H)

    Each delivery truck costs H Avoid. Switch to other vendors.


    $16,000 more than initially
    quoted.

    A product vendor charges a M Reduce or control. Negotiate with the vendors or


    higher rate than expected. switch to other vendors.

    A product vendor loses a L Accept. Monitor the situation and figure out the
    product shipment. solution if it happens too often.

    This study source was downloaded by 100000848111238 from CourseHero.com on 05-31-2022 17:04:10 GMT -05:00

    https://www.coursehero.com/file/132544886/Activity-Risk-management-plandocx/
    RISK TYPE TWO: Falling behind the training schedule

    Scenario Risk to Mitigation Plan


    project
    (L/M/H)

    Your Training Manager gets L Accept. Make alternative training programs as a


    sick and misses a week of backup.
    training.

    You cannot hire enough H Accept. Monitor the situation and tell the clients to
    employees in time to train wait for us.
    them before launch.

    More than 50% of M Reduce or control. Try to increase the salary and
    employees quit after a bonus.
    difficult training process,
    leaving the company short-
    staffed.

    Appendix:
    Probability chart:

    Probability
    Qualitative Quantitative (if measurable)

    Low Very low chance of risk occurring. Less than <10% chance of risk occurring.

    Medium Medium chance of risk occurring. 10%-49% chance of risk occurring.

    High High chance of risk occurring. 50%-100% chance of risk occurring.

    This study source was downloaded by 100000848111238 from CourseHero.com on 05-31-2022 17:04:10 GMT -05:00

    https://www.coursehero.com/file/132544886/Activity-Risk-management-plandocx/
    Impact chart:

    Types of
    Impact Low Medium High
    Low financial impact, Medium financial impact, High financial impact,
    costing the company $0- costing the company costing the company
    Financial $14,000 $15,000-$29,000 $30,000 or more
    Medium impact to project
    Low impact to project operations, High impact to project
    operations, causing with potential to delay operations,
    delays of a few days to a project by a month or with potential to cause
    Operational few weeks more project failure
    Low impact to employee Medium impact to High impact to employee
    attrition, with 5%+ of employee attrition, with attrition, with 50%+
    employees quitting 25%+ of employees employees quitting
    People quitting

    Probability and Impact Matrix:

    Inherent Risk
    Impact
    Low Medium High
    High Medium High High
    Probability Medium Low Medium High
    Low Low Low Medium

    This study source was downloaded by 100000848111238 from CourseHero.com on 05-31-2022 17:04:10 GMT -05:00

    https://www.coursehero.com/file/132544886/Activity-Risk-management-plandocx/
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