Operations & Training Risk Management Plan

Author: Project Manager Created: Jan 2

Status: Draft Updated: Jan 2

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
provides a high-level overview of the project itself, the scope, and the overall approach in
developing the risk management plan. This tells the stakeholder(s) what to expect when
reviewing the plan and helps set their expectations.

RISK TYPE ONE: Going over the project budget

Scenario Risk to Mitigation Plan

project
(L/M/H)

Each delivery truck costs Low Transfer the risk. Get more quotation from
$16,000 more than initially various other vendors, compare, negotiate and
quoted finalize one who meets our budget need.

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. Ask vendor to arrange
product shipment. another same product immediately, 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 manager to see, if possible, to conduct training
week of training. online, to avoid not to miss weekly training
schedule

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

Appendix:
Probability chart:

Probability
Qualitative Quantitative (if measurable)

A product vendor loses a product Less than <10% chance of risk

Low
shipment. occurring.

The budget impact would be

Medium 10%-49% chance of risk occurring.
approximately $17,000.
 Office Green would pay $32,000 more
High than expected for their two delivery 50%-100% chance of risk occurring.
trucks.

Impact chart:

Types of
Impact Low Medium High
Low financial impact, Medium financial impact, High financial impact,
costing the company costing the company costing the company
Financial $0-$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