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 potential risks in the Plant Pals operations launch and
develop mitigation plans to minimize the impact of these risks.

Executive Summary

The Plant Pals operations launch project aims to successfully introduce a new product line to our
customers. We have identified two primary risk types: Budget Risks and Schedule Risks. The following
table outlines potential risks in each category:

RISK TYPE ONE: Going over the project budget

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

Each delivery truck Probability: High (50%) ● Accept and budget for potential
costs $16,000 more Impact: High (>$30,000) overage.
than initially quoted. Inherent Risk: High ● Create a contingency fund to cover
unexpected costs.

A product vendor Probability: Medium ● Reduce or control by negotiating

charges a higher rate (20%-25%) fixed-rate contracts with vendors.
than expected. Impact: Medium (costing the ● Monitor vendor performance closely.
company $15,000-$29,000)
Inherent Risk: Medium

A product vendor Probability: Low (5%) ● Transfer the risk by diversifying

loses a product Impact: High (costing the vendors or securing insurance for lost
shipment. company $30,000 or more) shipments.
Inherent Risk: Medium
RISK TYPE TWO: Falling behind the training schedule

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

Сan not hire enough Probability: High (20%-30%)
employees in time to Impact: High (with potential
train them before to delay project by over a
launch. month)
Inherent Risk: High
● Start the hiring process earlier and
consider temporary staffing agencies to
ensure an adequate number of
employees are trained before the launch.

The Training Manager Probability: Medium ● Cross-train another team member to

gets sick and misses a (5%-10%)
week of training. Impact: Medium (with
potential to delay project by
a month or more)
Inherent Risk: Medium
cover for the Training Manager during
their absence
● Have contingency training plans in place
to minimize schedule delays

More than 50% of Probability: Low (5%) ● Improve the training process to reduce
employees quit after a Impact: High (with 50%+ attrition rates, provide additional support
difficult training employees quitting) ● Incentivize employees to stay during and
process. Inherent Risk: Medium after training

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