Amazing Coffee Houses (ACHs) Risk Register Unit 5 I

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City Colleges of Chicago, Harry S Truman College *

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400

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Information Systems

Date

Dec 6, 2023

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xlsx

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Uploaded by Jayme2

Form P-4 Project Manager: Name (816) XXX-XXXX Risk Register Workbook Instructions The first sheet, titled Risk Register, shows a number of fields to use for gathering the following information about ris This template is to be used for identifying risks and creating plans for how to avoid them (negative risks) or how to m managing them throughout the project. Risk ID is some unique value that identifies the risk. Risk Name is a short description of the risk. Risk Description "If this risk occurs, then what impact will it have on the project?" It should be written as an "If, Impact as rated on a very low, low, medium, high, and very high scale. Probability as rated on a very low, low, medium, high, and very high scale. Risk Ranking: Using the risk matrix found on the right on the Risk Register sheet, detemine the color code (risk Positive/Negative: Is this risk a positive risk (an opportunity) or a negative risk? Proactive Response Plan is a detailed plan of what changes will be made to the project, project scope, and/or WB Trigger Event is a description of how you will know if the risk has occurred or is about to occur. Reactive Contingency Plan is the description of what you plan to do if the risk happens. How will you react to th

Form P-4 Project Manager: Name (816) XXX-XXXX

Form P-4 Project Manager: Name (816) XXX-XXXX Risk Register ID Risk Name Risk Description Impact Probability Weighted Consequence Positive/Negative Mitigation Plans (IF/Then) 1-5(VH,H,M,L,VL) 1-5(VH,H,M,L,VL (ProbabilIty X Impact) Avoid, Reduce, Transfer, Accept 1 Asbestos VH ML VH × ML= VH (Color Code) Yellow Negative 2 Budget Overrun VH MH VH × MH = VH (Color code) Yellow Negative 3 Permit Delays H ML H × ML = M (Color code) Green Negative 4 H MH H × MH = H (Color Code) Yellow Negative 5 Labor Shortage H ML H × ML = H (Color Code) Yellow Negative 6 Equipment Failure VH L VH × L = VH (Color Code) Yellow Negative Is this a positive or negative risk from the risk matrix? If asbestos is found in the building during renovation, Then it will pose health hazards and delay the opening. Avoid - Conduct thorough inspections and asbestos testing prior to renovation. If asbestos is found, consider alternative locations or remediation before renovation. Additionally, establish contracts with certified asbestos removal companies to ensure swift action if asbestos is discovered. If unexpected costs arise during construction, Then it may exceed the allocated budget and affect financial viability. Reduce - Develop a detailed budget with a contingency reserve, allocating funds for potential overruns. Monitor and control expenditures rigorously to ensure they align with the planned budget. Establish clear communication and negotiation strategies with suppliers and contractors to prevent unforeseen cost escalations. If there are delays in obtaining required permits, Then the project timeline may be extended, causing a delay in the shop opening. Reduce - Engage with local authorities early in the process and expedite the permit application process. Maintain clear communication, provide necessary documentation promptly, and follow up rigorously to avoid delays. Additionally, allocate resources dedicated to managing the permit application process efficiently. Supply Chain Disruption If there is a disruption in the supply chain for coffee beans or equipment, Then it may lead to delays in settings up the shop. Reduce - Diversify suppliers and maintain buffer stock for critical items. Establish clear communication channels with suppliers and have backup plans in place to ensure a consistent supply chain. Create contracts with suppliers specifying contingency plans for potential disruptions, and conduct regular reviews of the supply chain to identify and address any weak links. If there is a shortage of skilled labor during construction or post- opening, Then it may lead to project delays and operational issues. Reduce - Develop a comprehensive hiring plan, engage with staffing agencies, and consider offering competitive wages to attract and retain skilled labor. Implement training programs to upskill existing staff. Build a pipeline of potential hires and maintain relationships with educational institutions to ensure a steady supply of skilled labor. If critical equipment malfunctions or breaks down, Then it can halt operations and delay the shop's opening. Reduce - Regularly maintain and service critical equipment to ensure optimal performance. Have a maintenance schedule in place and consider having backup equipment readily available. Establish service contracts with equipment suppliers to ensure prompt repair and replacement in case of a breakdown.

Form P-4 Project Manager: Name (816) XXX-XXXX ID Risk Name Risk Description Impact Probability Weighted Consequence Positive/Negative Mitigation Plans 7 H M H × M = H (Color Code) Yellow Negative 8 H M H × M = H (Color Code) Yellow Negative 9 Regulatory Changes H M H × M = H (Color Code) Yellow Negative 10 H ML H × ML = H (Color code) Yellow Negative 11 H ML H × ML = H (Color Code) Yellow Positive 12 Vendor Discounts M VH M × VH = VH (Color code) Yellow Positive 13 M MH M × MH = MH (Color Code) Green Positive Health and Safety Compliance If there are issues with meeting health and safety compliance standards, Then it may result in delays and fines. Reduce - Engage with health and safety experts to conduct thorough assessments and ensure compliance throughout the project. Develop and implement a robust health and safety plan, providing appropriate training to staff. Regularly audit the compliance status and proactively address any identified gaps. Intellectual Property Risk If there are infringements or disputes related to intellectual property, Then it may result in legal battles and financial losses. Reduce - Conduct thorough intellectual property searches and ensure all necessary licenses and permissions are obtained. Engage legal experts to provide advice and guidance on intellectual property matters. Regularly monitor for potential infringements and take prompt legal action if required. If there are unexpected changes in local or state regulations, Then it may require adjustments to the shop's setup and operation, causing delays. Reduce - Stay informed about local regulations and maintain close communication with relevant authorities. Incorporate flexibility in the project plan to accommodate potential regulatory changes. Engage legal advisors to provide timely updates and guidance on compliance with changing regulations. Adverse Weather Conditions If there are prolonged adverse weather conditions during construction, Then it may result in delays in the project timeline. Reduce - Monitor weather forecasts regularly and plan construction activities accordingly. Incorporate buffer time in the project schedule to account for potential weather-related delays. Have temporary shelters or provisions in place to continue critical construction work during adverse weather conditions. Implement flexible working hours and adjust the construction plan to optimize productivity during periods of better weather. Early Construction Completion If construction is completed ahead of schedule, Then the shop can open earlier than expected, increasing potential revenue. Enhance - Employ experienced construction teams, allocate additional resources, and closely monitor progress. Offer incentives for early completion to motivate the construction team. Implement a robust project management process and leverage technology for real-time monitoring of construction progress. If vendors offer discounts on equipment and supplies, Then cost savings can be achieved, positively impacting the budget. Enhance - Establish strong relationships with vendors, negotiate favorable terms, and bulk purchasing options. Continuously monitor the market for discount opportunities and strategically time purchases to maximize cost savings. Consider long-term partnerships with suppliers to secure ongoing benefits. Favorable Local Regulations If the local government provides tax incentives or other benefits, Then it can positively impact the financial aspect of the project. Enhance - Engage with local authorities early in the project and maintain a strong relationship. Stay informed about potential benefits and incentives. Design the project to align with local regulations to maximize the possibility of qualifying for benefits. Partner with legal experts to navigate the complexities of local regulations and secure the available benefits.

Form P-4 Project Manager: Name (816) XXX-XXXX ID Risk Name Risk Description Impact Probability Weighted Consequence Positive/Negative Mitigation Plans 14 Community Support H H H × H = VH (Color Code) Yellow Positive 15 Early Hiring Success H ML H × ML = H (Color Code) Yellow Positive 16 M MH M × MH = MH (Color Code) Green Positive 17 Strategic Location H MH H × MH = H (Color Code) Yellow Positive 18 Strong Brand Identity M MH M × MH = MH (Color Code) Green Positive 19 Efficient Supply Chain H ML H × ML = H (Color Code) Yellow Positive If the local community embraces the new coffee shop enthusiastically, Then it can lead to higher foot traffic and increased sales. Enhance - Develop a targeted marketing campaign to engage the local community and generate excitement. Collaborate with local influencers or organizations to promote the shop. Conduct pre-opening events and offer special discounts to encourage community involvement. Create a loyalty program to incentivize repeat visits and customer engagement. If recruiting skilled and motivated staff is completed ahead of schedule, Then it will enable a smooth transition into operations and exceptional service from the opening day. Enhance - Streamline the hiring process, leverage recruitment agencies, and conduct proactive recruitment drives. Implement an efficient onboarding process, provide early training, and ensure all necessary resources are ready for staff. Collaborate with educational institutions to identify top talent and provide opportunities for internships or apprenticeships. Brand Partnership Opportunities If potential brand partnerships or sponsorships arise, Then it can increase brand visibility and customer engagement. Enhance - Actively seek and collaborate with potential partners that align with the brand and target market. Develop clear partnership proposals showcasing the benefits for both parties. Leverage industry connections and networks to explore mutually beneficial brand partnerships. Establish long-term relationships with partners to maximize ongoing benefits and brand exposure. If the coffee shop is situated in a highly visible and accessible location, Then it can attract a higher number of customers. Enhance - Conduct thorough market research to identify optimal locations. Negotiate leases for strategic, high- visibility locations. Invest in marketing efforts to create buzz and anticipation around the new shop's location. Collaborate with local businesses or events to increase visibility and attract a broader customer base. If the coffee shop establishes a strong and appealing brand identify, Then it can lead to customer loyalty and increased sales. Enhance - Invest in professional branding services to create a compelling brand identity. Conduct market research to ensure the brand resonates with the target audience. Implement consistent branding across all touchpoints, including signage, packaging, and online presence. Engage with the local community to build a positive brand image through sponsorship, events, or collaborations. If the supply chain is optimized for timely delivery of coffee beans and supplies, Then it can ensure smooth operations and customer satisfaction. Enhance - Collaborate with reliable suppliers and negotiate favorable terms for timely deliveries. Implement technology-driven supply chain management solutions to track and manage inventory effectively. Maintain buffer stock to avoid disruptions in supplies. Conduct regular reviews of the supply chain to identify and address any potential bottlenecks.

Form P-4 Project Manager: Name (816) XXX-XXXX ID Risk Name Risk Description Impact Probability Weighted Consequence Positive/Negative Mitigation Plans 20 M MH M × MH = MH (Color Code) Green Positive 21 M MH M × MH = MH (Color Code) Green Positive 22 M MH M × MH = MH (Color Code) Green Positive 23 M MH M × MH = MH (Color Code) Green Positive 24 M MH M × MH = MH (Color Code) Green Positive Innovative Menu Offerings If the coffee shop offers innovative and unique menu options, Then it can attract a diverse customer base and generate buzz. Enhance - Conduct market research to identify trending and unique menu options. Experiment with new flavors, brewing methods, or presentation styles to create an appealing and innovative menu. Seek customer feedback and preferences to tailor the menu to local tastes. Collaborate with local chefs or influencers to create signature offerings that set the coffee shop apart. Technology Integration If the coffee shop integrates advanced technology for ordering and payment processes, Then it can enhance customer experience and operational efficiency. Enhance - Invest in technology solutions for seamless ordering and payment processes. Train staff to effectively use the technology and provide assistance to customers. Conduct regular updates and maintenance of the technology to ensure optimal performance. Gather customer feedback to identify areas for improvement and enhancements in the technology integration. Exceptional Customer Service If the coffee shop consistently provides exceptional customer service, Then it can lead to customer loyalty and positive word-of-mouth. Enhance - Develop a robust customer service training program for staff to emphasize responsiveness, empathy, and problem-solving skills. Create a feedback loop to capture customer reviews and feedback. Recognize and reward exceptional customer service. Implement a loyalty program to incentivize repeat visits and foster a sense of community and loyalty among customers. Strategic Marketing Campaigns If strategic marketing campaigns effectively reach and resonate with the target audience, Then it can boost brand awareness and customer acquisition. Enhance - Conduct comprehensive market research to identify the target audience and their preferences. Design marketing campaigns tailored to resonate with the identified audience. Utilize a mix of online and offline marketing channels for maximum reach. Analyze campaign performance and adjust strategies based on data insights to continuously improve marketing effectiveness. Collaborate with marketing experts or agencies to ensure the campaigns align with industry best practices and trends. Collaboration with Influencers If the coffee shop collaborates with social media influencers, Then it can significantly expand its reach and customer base. Enhance - Identify and engage with influencers whose audience aligns with the coffee shop's target market. Develop clear collaboration proposals showcasing the benefits for both parties. Provide influencers with unique experiences or offerings to share with their audience. Monitor and measure the impact of the collaboration and establish long-term relationships with influencers for ongoing collaborations.

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