Operations & Training Risk Management Plan

Author: Project Manager Created: Jan 11

Status: Draft / Final Updated: Mar 31

Objective
The objective of this document is we have identified 2 potential budget and schedule risks and
plan accordingly

Executive Summary
[Detail the length of the project 6 months
project milestones develop a new site, train employees and place new products project plant
pals
1. introduce potential risks - Going over the project budget
2. Falling behind the training schedule

RISK TYPE ONE: Going over the project budget

Scenario Risk to Mitigation Plan

project
(L/M/H)

Each delivery truck costs H Rent or contract freight services

$16,000 more than initially
quoted

A product vendor charges a M Choose other vendor

higher rate than expected

A product vendor loses a H Do track each shipment closely

product shipment
RISK TYPE TWO: Falling behind the training schedule

Scenario Risk to Mitigation Plan

project
(L/M/H)

Your Training Manager gets L Plan his training schedules properly considering
sick and misses a week of his wellness too
training

You cannot hire enough M Plan hiring prior of start of project

employees in time to train
them before launch.

More than 50% of L Have buffer people on hiring

employees quit after a
difficult training process,
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
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