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Risk Management Plan

This document identifies and analyzes risks to the upcoming Plant Pals operations launch and training protocols. It outlines two main risk types: going over budget and falling behind the training schedule. For each risk type, potential scenarios are described along with their probability and potential impact on the project. Mitigation plans are proposed to address high-risk scenarios in order to help ensure the project's success.

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Natha
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67 views

Risk Management Plan

This document identifies and analyzes risks to the upcoming Plant Pals operations launch and training protocols. It outlines two main risk types: going over budget and falling behind the training schedule. For each risk type, potential scenarios are described along with their probability and potential impact on the project. Mitigation plans are proposed to address high-risk scenarios in order to help ensure the project's success.

Uploaded by

Natha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Operations & Training Risk Management Plan

Author: Project Manager Created: Mar 1


Status: Draft Updated: Mar 31

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

Executive Summary
We are expecting to launch the Plant Pals operations plan in few months. This includes training
protocols. See below for risks to this project, and the mitigation plan to address them:

RISK TYPE ONE: Going over the project budget

Scenario Risk to Mitigation Plan


project
(L/M/H)

A product vendor loses a Low Monitor the shipments closely for the first few
product shipment weeks after launch

A product vendor charges Medium Accept that this risk could happen and decrease
a higher rate than other areas of the budget
expected

Each delivery truck costs High Avoid risk altogether by switching to a different
$16,000 more than initially vendor with a lower quote
quoted

RISK TYPE TWO: Falling behind the training schedule


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

More than 50% of Low Implement a thorough and reasonable training


employees quit after a process and have weekly check ins with the
difficult training process, employees in training
leaving the company
short-staffed

Your Training Manager Medium Train another employee to conduct trainings


gets sick and misses a before the internal training begin
week of training

You cannot hire enough High Ensure that benefits and compensation
employees in time to train packages are fair before starting the hiring
them before launch process

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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