British Petroleum's Report On Their Risk Management Plan

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British Petroleum will report on their risk management plan and will discuss the top two threats that have occurred, the top opportunity that has been realized, the project risk budget that we have exhausted and the risk management schedule that has been shortened by two months. In general, a risk is always seen negative, however, by assessing thoroughly and identify risk in the risk register can help identify the opportunities that could impact the project. The risk register will be updated and available for future prepared readiness options. Two (2) Threats The British Petroleum company continued to neglect the threats in the risk register. British Petroleum lack of effort to improve their working culture prompted theses two risk to occur which include some workers losing their life and some workers walking away from their jobs due to poor working conditions. The financial times confirmed that bolts dropping from 60 feet, as well as the pressure on workers not to report injuries and safety violations, necessitated some employees to resign. The impact of this is an increase in cost and schedule delays due to the time and cost to replace the workers. As you can see the competitors will run with this, this will put the British Petroleum at a competitive disadvantage with the decrease in stakeholders, customers and other valued people. British Petroleum main focus should be to create a risk plan that follows a safety process that will improve their culture and working

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