Risk Management Sample

1064 Words5 Pages
Asian Restaurant Project December 1 2012 Project Risk management Plan for the Asian restaurant operation. Contents RM Methodology: Open an Asian restaurant. 1 Role and Responsibilities: 1 Budget: 2 Timing: 2 Risk Categories 2 Definitions of risk probability and impact. 3 Outcome : Risk management Plan. 5 RM Methodology: Open an Asian restaurant. Resource of data and information: - Approach: surveys, quantitative, questionnaire , brainstorming, etc… - Data: internet, financial news and magazine, collected information from competitors,… Role and Responsibilities: Project Manager: The overall coordinator of the Risk Management Program. • Maintaining this Risk Management…show more content…
General employee morale and attitude problems. Increase in employee turnover. Medical treatment required. Exceedance of internal procedures or guidelines. Adverse news in local media. Concerns on performance raised by shareholder or the community E: Insignificant Budgeted cost estimates not exceeded. Some transfer of money. Negligible system, asset, integrity or condition impact. Negligible performance impact. Negligible milestone or deadline impact. Negligible performance impact. Negligible or isolated employee dissatisfaction. On-site first aid required. No loss time or occupational illness. No breach of licenses, standards, guidelines or related audit findings. Reference to community consultation group. Public awareness may exist, but there is no public concern. Based on the table above, we can define the risks into 7 fields and define the lever of impacts into 5 ranks. In Category part we have the list of risks that we can face, and next to each risk you will find the ranking for this definition of risk and impact. Some risks have more than one definition. Beside it, there is a ranking for the frequency of each risk, divided into 5 ranks: Rating Probability A Almost certain 0.8 -1 B Likely 0.5 – 0.8 C Possible 0.1 – 0.5 D Unlikely 0.02 -0.1 E Rare 0 - 0.02 Based on these two tables, we have the table below to rate the risks: Risk priority rating Consequence Insignificant Minor Moderate Major Catastrophic Likelihood E D C B A A
Get Access