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One of the risks could be supply chain problems, such as the
absence of organic local lettuce made by farmers, as presented in the scenario. This risk
can be mitigated by
, among other measures, diversifying the base of
suppliers or by setting up backup agreements with multiple farmers so that a regular
stream of fresh produce can be secured. Also, supplier communication channels have to be kept
open to avert and solve unexpected pro
blems as soon as possible. Another risk factor is spending more than the budget due to
the additional
expenditures during the execution stage. With this type of risk, financial monitoring
proce
sses need to be put in place, and reserve funds should be set aside to be used
when unforeseen expenditures occur. Through a detailed risk assessment and
management strategies, the project team can increase the
chances
of
positive results and prevent disruptions to the catering service launch.