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  • Activity Template - Risk Management Plan - NJ

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    Nishij
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    This risk management plan outlines two main risks to an operations and training project: going over budget and falling behind the training schedule. The budget risk from truck deliveries costing more is rated low to medium, while losing a product shipment is high risk. For the training schedule, an trainer illness poses low risk, while not hiring enough trainees is medium risk and high employee turnover after training is high risk. Mitigation strategies include cost transfers, online training, utilizing current staff, and improving the training process.

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    Activity Template_ Risk management plan -NJ

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    This risk management plan outlines two main risks to an operations and training project: going over budget and falling behind the training schedule. The budget risk from truck deliveries costing more is rated low to medium, while losing a product shipment is high risk. For the training schedule, an trainer illness poses low risk, while not hiring enough trainees is medium risk and high employee turnover after training is high risk. Mitigation strategies include cost transfers, online training, utilizing current staff, and improving the training process.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    14 views3 pages

    Activity Template - Risk Management Plan - NJ

    Uploaded by

    Nishij
    This risk management plan outlines two main risks to an operations and training project: going over budget and falling behind the training schedule. The budget risk from truck deliveries costing more is rated low to medium, while losing a product shipment is high risk. For the training schedule, an trainer illness poses low risk, while not hiring enough trainees is medium risk and high employee turnover after training is high risk. Mitigation strategies include cost transfers, online training, utilizing current staff, and improving the training process.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, 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 […]

    Executive Summary
    [Detail the length of the project, project milestones, and introduce potential risks here.]

    RISK TYPE ONE: Going over the project budget

    Scenario Risk to Mitigation Plan


    project
    (L/M/H)

    Each Delivery Truck: L Transfer- This risk can be transfered by


    sourcing
    $16000 more than initial the delivery trucks from a different supplier
    quoted

    Vendor charges higher M Transfer -Sharing this risk with a third party
    rate than expected vendor who distributes similar products with
    the
    same qualities is the safest bet to offset the
    high
    charge

    Losing product shipment H Accept the risk, ask vendor to arrange another
    same product, without delaying the shipment
    RISK TYPE TWO: Falling behind the training schedule

    Scenario Risk to Mitigation Plan


    project
    (L/M/H)

    Your Training Manager Low Accept the risk. Talk to email with
    training
    gets sick and misses a
    week of training manager to see, if possible, to conduct
    training
    online, to avoid not to miss weekly
    training
    schedule

    You cannot hire enough Medium Accept the risk. To utilize available
    employees in time to trained
    train employees for the lunch.
    them before launch

    More than 50% of High Transfer the risk. To recruit new


    employees quit after a employees
    difficult training to avoid shortfall of staff and make
    process, training
    leaving the company process simpler & easier so that staff can
    short-staffed enjoy
    the process & working.

    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.

    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

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