Operations & Training Risk Management Plan
Author: Autumn
Status: Draft
Created: Mar 1
Updated: Mar 31
Objective
The objective of this document is to evaluate risks and their level of impact on this project. This
will also show the ways to mitigate each possible risk.
Executive Summary
The project is set to launch the new operations systems at Plant Pals. This plan has several
stages to the project that include some risks including budget and schedule risks. In order for
this project to be successful we will want to mitigate any risks that pose a large threat.
RISK TYPE ONE: Going over the project budget
Scenario
Risk to
project
(L/M/H)
Mitigation Plan
A product vendor loses
a product shipment.
Low
Be informed of all shipments. Track the
shipment and look into shipping insurance.
A product vendor
charges a higher rate
than expected.
Medium
Ask for another round of quotes by vendors
before selecting one.
Each delivery truck
costs $16,000 more
than initially quoted.
High
Review costs of trucks and get a new quote to
find actual cost. Then increase the budget if
needed.
RISK TYPE TWO: Falling behind the training schedule
Scenario
Your Training Manager
gets sick and misses a
week of training.
Risk to
project
(L/M/H)
Low
You cannot hire enough Medium
employees in time to
train them before
launch.
More than 50% of
employees quit after a
difficult training
process, leaving the
company short-staffed.
Low
Mitigation Plan
Consider having a secondary trainer for the
team.
Work with HR and hiring managers to discuss
interview process and timing. Then add buffer if
needed.
By preparing an easy training process this is a
smaller chance. Make the training simple and
easy to follow.
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
Financial
Low
Medium
Low financial impact,
costing the company $0$14,000
Low impact to project
operations, causing
delays of a few days to a
Operational few weeks
Low impact to employee
attrition, with 5%+ of
employees quitting
People
High
Medium financial impact, High financial impact,
costing the company
costing the company
$15,000-$29,000
$30,000 or more
Medium impact to project
operations,
with potential to delay
project by a month or
more
Medium impact to
employee attrition, with
25%+ of employees
quitting
High impact to project
operations,
with potential to cause
project failure
High impact to employee
attrition, with 50%+
employees quitting
Probability and Impact Matrix:
Inherent Risk
Impact
Low
Medium
High
Medium
High
High
Probability Medium
Low
Medium
High
Low
Low
Low
Medium
High