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3 - Activity Template - Risk Management Plan

This risk management plan summarizes potential risks for a project to launch a new plant delivery service within six months. It identifies two main risk types: going over budget and falling behind the training schedule. For each risk scenario, it evaluates the potential impact and proposes mitigation plans, such as finding alternative suppliers or vendors. It also includes appendices defining the probability and impact scales used to assess inherent project risks.

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trzeciaq
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117 views3 pages

3 - Activity Template - Risk Management Plan

This risk management plan summarizes potential risks for a project to launch a new plant delivery service within six months. It identifies two main risk types: going over budget and falling behind the training schedule. For each risk scenario, it evaluates the potential impact and proposes mitigation plans, such as finding alternative suppliers or vendors. It also includes appendices defining the probability and impact scales used to assess inherent project risks.

Uploaded by

trzeciaq
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Operations & Training Risk Management Plan

Author: Project Manager / LukTq Created: Mar 1


Status: Draft Updated: Mar 31

Objective
The purpose of risk management is to identify potential problems before they occur, or, in the
case of opportunities, to try to leverage them to cause them to occur. Risk-handling activities
may be invoked throughout the life of the project.

Executive Summary
In normal circumstances we would expect to launch the Plant Pals service within six
months.This includes the launch of a new website and delivery of plants to customers. See
below for riskto this project, and the mitigation plan to address them

RISK TYPE ONE: Going over the project budget

Scenario Risk to Mitigation Plan


project
(L/M/H)
Each delivery truck costs Low Avoid- This risk can be avoided by sourcingthe
$16,000 more than initially delivery trucks from a different supplier
quoted
A product vendor charges Medium Transfer the risk. Get more quotation from
a higher rate than various other vendors, compare, negotiate and
expected finalize one who meets our budget need.
A product vendor loses a High Accept the risk and possibility that this may
product shipment. actually happend
RISK TYPE TWO: Falling behind the training schedule

Scenario Risk to Mitigation Plan


project
(L/M/H)
Your Training Manager Low Accept the risk. Try to reschedule the triainig,
gets sick and misses a ask maybye traiining can be done online
week of training.
You cannot hire enough Medium Accept the risk. To utilize available trained
employees in time to train employees for the lunch.
them before launch
More than 50% of High Transfer the risk. To recruit new employees
employees quit after a to avoid shortfall of staff and make training
difficult training process, process simpler & easier so that staff can enjoy
leaving the company the process & working
short-staffed.

Appendix:
Probability chart:

Probability
Qualitative Quantitative (if measurable)

Less than <10% chance of risk


Low Very low chance of risk occurring.
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.


Impact chart:

Types of
Impact Low Medium High
Medium financial
Low financial impact, 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
Low impact to project 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
Probabilit Mediu
Low Medium High
y m
Low Low Low Medium

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