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  • Operations & Training Risk Management Plan: Objective

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    Phi Hiep Nguyen
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    The Operations & Training Risk Management Plan identifies potential risks for launching the Plant Pals product. Major risks include going over budget due to increased vendor costs or delivery expenses. There is also a risk of falling behind the training schedule if not enough employees can be hired and trained on time. The document provides scenarios for each risk type, assesses the probability and potential impact, and proposes mitigation plans to control, avoid, accept, or transfer each risk.

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    Risk-management-plan_AA_230122

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    The Operations & Training Risk Management Plan identifies potential risks for launching the Plant Pals product. Major risks include going over budget due to increased vendor costs or delivery expenses. There is also a risk of falling behind the training schedule if not enough employees can be hired and trained on time. The document provides scenarios for each risk type, assesses the probability and potential impact, and proposes mitigation plans to control, avoid, accept, or transfer each risk.

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    22 views3 pages

    Operations & Training Risk Management Plan: Objective

    Uploaded by

    Phi Hiep Nguyen
    The Operations & Training Risk Management Plan identifies potential risks for launching the Plant Pals product. Major risks include going over budget due to increased vendor costs or delivery expenses. There is also a risk of falling behind the training schedule if not enough employees can be hired and trained on time. The document provides scenarios for each risk type, assesses the probability and potential impact, and proposes mitigation plans to control, avoid, accept, or transfer each risk.

    Copyright:

    © All Rights Reserved
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    of 3

    Operations & Training Risk Management Plan

    Author: Abhishek Created: Jan 23


    Status: Draft Updated: Jan 23

    Objective
    The objective of this document is to identify potential risks for the Plant Pals operations launch.

    Executive Summary
    The goal of the project is to launch the Plant Pals product. Major activities include hiring required
    manpower and train them for the required service. Another major activity to firm up the supply
    and delivery lines. The risks involved are around a) budget – cost overrun and b) manpower
    issues – hiring, training, and attrition

    RISK TYPE ONE: Going over the project budget

    Scenario Risk to Mitigation Plan


    project
    (L/M/H)

    A product vendor loses a L Accept


    product shipment There is low probability, we can keep a buffer for
    such incidences.

    A product vendor charges M Control/Avoid


    a higher rate than Have a watertight price agreement with the
    expected vendor/change the Vendor

    Each delivery truck costs H Transfer


    $16,000 more than initially Go for leased trucks at fixed lease
    quoted price/Outsource the delivery
    RISK TYPE TWO: Falling behind the training schedule

    Scenario Risk to Mitigation Plan


    project
    (L/M/H)

    Your Training Manager L Accept


    gets sick and misses a Keep a buffer in overall time estimate for training
    week of training

    You cannot hire enough M Control/Reduce


    employees in time to train Go for a hiring agency who can support in faster
    them before launch recruitment

    More than 50% of H Transfer


    employees quit after a Outsource the manpower and hire contract
    difficult training process, employees
    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.

    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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