Risk Management Sample

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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 Categories2
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 Plan • Maintaining the Risk Management Data Base and distributing updates • Briefing the team on the status of risks

• Tracking efforts to reduce moderate and high risk to acceptable levels • Providing risk management training
• Facilitating risk assessments and
• Preparing risk briefings, reports, and documents required for Project Reviews Project Team: Responsible for identifying, monitoring and managing risks• Coordinate with SMEs to review and recommend to the Project Manager changes on the overall risk management approach based on lessons learned. • Quarterly, or as directed, participate in the update to project risk assessments made during the previous review period. • Review and recommend any changes to the risk assessments made and the risk mitigation plans proposed. • Report new risks to the Project Manager via e-mail

• Ensure that risk is a required topic at each Project Meeting • Accomplish assigned mitigation tasks and report status/completion of mitigation actions to the Project Manager for entry into the database. Subject Matter Experts (SMEs): Responsible for implementing risk management tasks per this plan.• Review and recommend to the Project Manager changes on the overall risk management approach based on lessons learned. • Quarterly, or as directed, participate in the update to program risk assessments made during the previous quarter. • Review and recommend any changes to the risk assessments made and the risk mitigation plans proposed. • Report new risks to the Project Manager via e-mail

• Accomplish assigned mitigation tasks and report status/completion of mitigation actions to the Project Manager for entry into the database. End UsersThe end users will participate in the project through the SMEs. The End Users may identify risks and should pass the information through the SMEs or Project Team. All risk identification, tasking, and reporting will be handled through the project team member(s) assigned to the End User.

Budget:
With a budget of $300,000, this project is a medium sized project. Approximately 30% of this budget is for Risk management.
Timing:
This is a 2 year project and the project rick calculation and summary will be done once a month in a monthly meeting. Risk Categories

Definitions of risk probability and impact.

RatingFinancial ImpactsFacility integrityPerformanceEmployeesHealth and safetyRegulatoryImage and reputation A:
CatastrophicDirect loss or increase cost > 50%. Major cost overrun. Additional budget is needed.Major unacceptable system, asset, integrity or condition problem. Failure to achieve critical system, asset, or performance goals.Time –critical project misses major milestone or deadline> 6 months. Failure to achieve critical system, asset, or performance goals.A large number of senior managers or experience employees leave the companyMultiple fatalities of staff, contractor of the publicRegulatory intervention and prosecution possibleDamage to corporate reputation at international lever, raised in international media. Major loss of shareholder or community support.

B :
MajorBudgeted cost estimates increase by 20 – 50% and...
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