Risk Management System ( Name Rms )

1678 WordsDec 5, 20147 Pages
10. Risk Management 10.1 Name Risk Management System (Name RMS) Name Risk Management System (Name RMS) aims to effectively and efficiently manage and assess all the critical risks due to both external and internal factors with the suitable action plans on specific risks, which gives the least possible adverse effects to the customers and company. The holistic framework of the system includes 4 key steps: risk planning, risk assessment, risk handling and risk monitoring showed in Figure 1. Figure 1: Name RMS process layout1 10.2 Risk Planning The project manager such as the product creator in Name Company takes the responsibility of reviewing the risk assessment documents and tracking the progress of control measures with his project management team. With more budget and fund in the long term, a formal risk committee will be formed to supervise the project management team‘s work flow and provide the feedbacks to the key stakeholders. 10.3 Risk Assessment In the Name RMS, risk assessment combines two key stages as Risk Identification and Risk Analysis. These two key components is crucial for the next stage of creating the possible mitigation measures on particular risk elements and the detailed risk control strategies on the product future developments. 10.3.1 Risk Identification The risk identification includes all kind of critical and potential risks which impacts the involved stakeholders and company. It comprises of two analysis models
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