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Operations & Training Risk Management Plan: Objective

This risk management plan identifies two main risks to Plant Pals' operations launch: going over budget and falling behind the training schedule. For the budget risk, it analyzes scenarios of losing a product shipment, higher vendor rates, and increased delivery costs, outlining the probability, impact, and recommended mitigation strategies of accept, avoid, or transfer. For the training schedule risk, it examines scenarios like employee quitting, an illness preventing training, and inability to hire in time, again detailing the probability, impact, and proposed accept or transfer mitigations. An appendix defines the probability and impact scales used to determine the inherent risk levels.

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44 views3 pages

Operations & Training Risk Management Plan: Objective

This risk management plan identifies two main risks to Plant Pals' operations launch: going over budget and falling behind the training schedule. For the budget risk, it analyzes scenarios of losing a product shipment, higher vendor rates, and increased delivery costs, outlining the probability, impact, and recommended mitigation strategies of accept, avoid, or transfer. For the training schedule risk, it examines scenarios like employee quitting, an illness preventing training, and inability to hire in time, again detailing the probability, impact, and proposed accept or transfer mitigations. An appendix defines the probability and impact scales used to determine the inherent risk levels.

Uploaded by

BROOKS INC
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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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 and determine potential risks for Plant Pals
operations launch

Executive Summary

RISK TYPE ONE: Going over the project budget

Scenario Risk to project Mitigation Plan


(L/M/H)

A product vendor loses a Probability- L ACCEPT


product shipment Impact- M The IR is low, the estimated risk of losing
Inherit risk- L
shipment is 5%

A product vendor charges Probability- M AVOID


a higher rate than Impact- M The IR is medium, it’s recommended to
Inherit risk- M
expected find another vendor

Each delivery truck costs Probability- H TRANSFER


$16,000 more than initially Impact- M As the IR is high, it is recommended to hire
Inherit risk- H
quoted a car leasing company or a delivery
company or a private delivery contractor

RISK TYPE TWO: Falling behind the training schedule


Scenario Risk to Mitigation Plan
project
(L/M/H)

More than 50% of Probability- L ACCEPT


employees quit after a Impact- L The IR is low, it is recommended to launch a
Inherit risk- L
difficult training process, more comprehensive pre-training campaign,
leaving the company set up a meeting to get all employees buy-in
short-staffed

Your Training Manager Probability- L ACCEPT


gets sick and misses a Impact- L The IR is low, it is recommended to
Inherit risk- L
week of training cooperate with the HR as they are
responsible for training programs

You cannot hire enough Probability- M Transfer


employees in time to train Impact- M The IR is medium, it is recommended to
Inherit risk- M
them before launch cooperate a contractor HR to hire more
employees before launching the training
program

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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