Operations & Training Risk Management Plan

Author: Wanda Ariza Created: Mar 1

Status: Final Updated: Mar 31

Objective
The objective of this document is to identify the possible risk that can occur and to create a risk
management plan.

Executive Summary
The general goal of the company is to launch a new service of small plants of low
maintenance for indoor spaces, by the end of the year. Leading to a 5% revenue
increase. The milestones are : establish plant delivery and logistics plan, select and
install supply chain software and equipment and develop and launch an employee training
program.

RISK TYPE ONE: Going over the project budget

Scenario Risk to Mitigation Plan

project
(L/M/H)

Each delivery truck High

costs $16,000 more Reduce or control
than initially quoted

A product vendor Medium

charges a higher rate Avoid
than expected.
 A product vendor loses Low Transfer
a product shipment.

RISK TYPE TWO: Falling behind the training schedule

Scenario Risk to Mitigation Plan

project
(L/M/H)

Your Training Manager Low

gets sick and misses a Accept
week of training

You cannot hire enough Medium

employees in time to Reduce or control
train them before
launch

More than 50% of Medium

employees quit after a
difficult training
process, leaving the Reduce or control
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
Low financial impact,
costing the company $0-
Financial $14,000
Low impact to project
operations, causing
delays of a few days to a
Operational few weeks
Low impact to employee
attrition, with 5%+ of
employees quitting
People
Medium High
Medium financial impact, High financial impact,
costing the company costing the company
$15,000-$29,000 $30,000 or more
Medium impact to project
operations, High impact to project
with potential to delay operations,
project by a month or with potential to cause
more project failure
Medium impact to High impact to employee
employee attrition, with attrition, with 50%+
25%+ of employees employees quitting
quitting

Probability and Impact Matrix:

Inherent Risk
Impact
Low Medium High
High Medium High High
Probability Medium Low Medium High
Low Low Low Medium