Risk Management Plan

Risk
Assessment &
Mitigation Plan
Your Company Name

Contents
2
Risk Management Plan
Risk Assessment
Risk Response Matrix
Risk Mitigation Chart
Risk Identification
Risk Analysis
Risk Mitigation Strategies
Risk Control Chart
Risk Register
Risk Response Plan
Risk Mitigation Plan
Risk Tracker

Risk Management Plan
3
Type of
Risk
Outcome
Existing Risk
Treatment Actions
in Place
Rating
Proposed Risk
Treatment Actions
to Mitigate Risk
Additional
Resources
Target
Date
Person
Responsible
Strategic
Risk
Performance
Deterioration
Proper Assessment of
Underlying Strategies
2
Detailed Understanding
of The Market
Text Here 31/4/2018
John
Smith
Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here
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Below is the
template to list
down the plan to
manage the types
of risks expected
by the company

Risk Identification (1/2)
4
CONSEQUENCE
LIKELIHOOD
TreatTolerate
TerminateTransfer
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needs and capture your audience's attention.01
This graph shows
the likelihood and
impact of risk on
the company and
the strategy which
the company might
opt to mange the
risk. You can alter
this as per your

Risk Identification (2/2)
5
> Budget Exceeded
> Unanticipated
Expenditure
Cost
> Bad weather results in re-work
> Weather delays progress
> Adverse environmental effects occur
> Environmental approvals not
complied with
Environmental
> Poor communication (Stakeholder
dissatisfaction)
> Positive & timely communications
(positive publicity)
Communication
>Team is under-resourced
>Materials shortage
>Machinery unavailable
>Industrial Action
>Skills gap
Resources
>Scope creep
>Scope poorly defined
>Project changes poorly managed
Scope
>Schedule overruns
>Tasks omitted from Schedule
>Opportunity to compress Schedule
Time
This is another way of
identifying the types of
risk associated with a
project basis different
types of factors like cost,
time, resources etc. You
can list down the risk
associated with all/ some
of these factors as per
your requirements

Risk Identification- Example
6
How Long Can
You Do Without?
Impact of
Doing Without?
Vulnerabilities?
Contingency in case of
a disaster?
Equipment
(IT only)
5 days
After five days no way to schedule
production or track orders
No UPS/ generator., MD hardware,
SPOF SME
Use paper reports for 5 days then
go manual for as many members
as possible
Facility 0 days
No production, potential for
bankruptcy, IT non- existent
Metal building, flood zone, poor
maintenance, no perimeter security ,
door lock broken
Look for warehouse space,
attempt to salvage equipment
and restart operation, file
bankruptcy
Personnel 0 days
Degraded operations, low service
levels
Too many SPOF
Best effort shifting of available
staff, temps
Raw Materials
30 days before new
deliveries
None until on hard exhausted Single supplier relationship Search for alternatives supplier
Transportation
System
30 days in 2 days out
No suppliers
No deliveries
Location, design of entrance None
Utilities
0 hours/power
0 hours/water
Extrusion shuts down, lines cleaned,
waste collected and prepared for
grinder, IT non-existent
Single power feed, no generator or
backup water supply
None
Vendors
(Sourcing)
4 hours No call center Mercy of vendor Being in-house
Below is the
template to list
down the plan to
manage the
types of risks
expected by the
company

Risk Register
7
Type of
Risk
Description of
Risk
Probability Impact
Risk Reduction Strategy
Contingency
plans
Risk
Owner
H M L Perf. Cost Time
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Maintain a risk
register to keep a
close track of all
the risks faced
by the company
and their impact
on the company
performance

Risk Assessment
8
Risk Rating Guide
> Major uncertainties remain
> No or little prior experience or data
> Infrastructure and/or resources not in place
> Some uncertainties remain
> Some experience and data exist
> Infrastructure in place but under-resourced
> Few uncertainties remain
> Significant experience and data exist
> Infrastructure in place and fully
> Performance, quality, cost or safety impacts
resulting in major redesign and program delay
> Performance, quality, cost and/or safety
impacts resulting in minor redesign and
schedule adjustment
> Performance, quality, cost and safety
requirements met within planned schedule
High (5)
Medium (3)
Low (1)
Probability Impact Impact
Consequences Likelihood of Occurrence Likelihood of detection
1. No. direct effect on operating service level
2. Minor deterioration in operating service level
3. Definite reduction in operating service level
4. Source deterioration in operating service level
5. Operating service level approaches zero
E. Probability of once in many years
D. Probability of once in many operating months
C. Probability of once in some operating weeks
B. Probability of weekly occurrence
A. Probability of daily occurrence
A. Detectability is very high
B. Considerable warning of failure before occurrence
C. Some warning of failure before occurrence
D. Little warning of failure before occurrence
E. Detectability is effectively zero
Risk Scoring System
Low High
1 3 5 R
Show
stopper
High
5
5 15 25 O
Significant
risk
3
3 9 15 Y
Proceed
with caution
Low
1
1 3 5 G No concern
We have listed
the framework
for assessing the
risk level. You
can use the
same for risk
assessment

Risk Assessment (contd..)
9
Insignificant Minor Moderate Major Catastrophic
Consequences
Likelihood 1 2 3 4 5
- - - - -A. Almost Certain
- - - - -B. Likely
- - - - -C. Possible
- - - - -D. Unlikely
E. Rare - - - - -
Extreme Risk
Immediate Action where senior
management get involved
High Risk
Management responsibility should
be specified
Moderate Risk
Managed by specific
responsible person
Low Risk
Managed by
routine process
Risk Scoring Results
On the basis of
the framework,
you can obtain
the risk score
and determine its
likelihood of
occurrence

10
Risk Items (Potential Future
Problems Derived from
Brainstorming)
Likelihood of Risk Item
Occurring
Impact to Project if
Risk Item Does
Occur
Priority (Likelihood *
Impact)
New Operating System May be Unstable 10 10 100
Communication Problems Over
System Issues
8 9 72
We May Not Have The Right Requirements 9 6 54
Requirements May Change Late in the Cycle 7 7 49
Database Software May Arrive Late 4 8 32
Key People Might Leave 2 10 20
Risk Analysis – Simplified Format
Below is the simple
version of analysing
the risk level on the
basis of the
mentioned
parameters. You can
alter these values &
parameters as per
your requirements

Risk Analysis- Complex
11
Description of Risk Control Measures
(Detail any existing Controls)
Risk Analysis Additional Control
(Detail additional to be implemented
Controls)
Risk Analysis
(with additional controls)
C L
Risk
Rating
C L
Risk
Rating
Step 1: Consider Step 2: Consider Likelihood Step 3: Calculation Risk
What is the consequence of the hazard occurring.
Consider what is the most possible consequence with
respect to work
RegulatorySafety at work
Extreme
Non
compliance
Sickness
Critical
Major non
compliance
Casualty
Minor
Minor non
compliance
First aid
Major WarningMedical treatment
1. Take Step 1 rating and select correct column
2. 2. Take Step 2 rating and select correct row
3. 3. Use the risk score where the two ratings cross on
the matrix below.
H = High, S = Serious, M = Medium, L = Low
What is the likelihood of the hazard consequences
occurring in Step1
Almost Is expected to occur in most
Certain Circumstances (once per year)
Likely
Will probably occur once (every 5 year)
Possible
Event might occur at some time
(10years)
Unlikely
/ Rare
Event expected to occur only in exceptional
circumstances (20+ years)
Likelihood
Min Maj Crit Ext
Almost
Certain
S(A4) S(A3) H(A2) H(A1)
Likely M(B4) S(B3) H(B2) H(B1)
Possible L(C4) M(C3) S(C2) S(C1)
Unlikely Rare L (D4) M(D3) M(D2) S(D1)
Below is a complex
version of analysing
the risk level. We have
listed the steps to be
followed in calculating
the risk and its
certainty. Using these
steps you can estimate
the risk level
associated with your
project/ company.

Risk Response Plan
12
NegativeRisk
PositiveRisk
Avoid
needs and capture your audience's attention.
Mitigate
Transfer
Accept
Exploit
Enhance
Share
Accept

Risk Response Matrix
13
10 20 30 40
0
20
40
60
80
100
Retain
Different Site
Conditions
Weather Delays
Unrealistic
Schedule
Retain
Equipment
Failure
Labor dispute/
Strike
Avoid
Design
Changes
Labor
Productivity
Transfer
Defective
Work
You can also show
the risk response
with the help of
graph showcasing
the probability of risk
and the risk
response associated
with the same.

Risk Mitigation Strategies
14
Technical Risks Cost Risks Schedule Risks
Emphasize team support and avoid
stand-alone project structure
Increase the frequency of project monitoring
Increase the frequency of
project monitoring
Increase project manager authority
Improve problem handling
And communication
Improve communication, project goals
understanding, and team support
Select the most experienced
Project manager
Increase the frequency of
project monitoring
Increase project manager authority
This strategy is used to
reduce the adverse
effects of risk. We have
listed down the three
categories of risk and
also the strategies to
be opted to manage
the risk levels. You can
alter these as per your
requirements.

15
Risk will be tested on a daily basis. The
risk owner will document all avoidance &
mitigation efforts. This would be practiced
until the risk level is acceptable or has
been avoided altogether
Risk will be tested on a weekly basis. The
risk owner will document all avoidance &
mitigation efforts. This would be practiced
until the risk level is acceptable or has
been avoided altogether
Risk will be tested weekly. No mitigation
or avoidance efforts are necessary
unless risk elevates.
High
Medium
Low
Control Strategy
High Medium Low
Mitigation Strategy

Risk Mitigation Plan
16
Category Identified Risk Mitigation Plan
Client
Management
Miscommunication with sponsor/ client regarding
project requirement and expectations
Update client more frequently along the way
with project progress
Server
Server is down which causes project to be slightly
delayed due to application not able to load
Perform periodical check on server status
Technical
Popular web browsers or bootstrap may get an
update that will discontinue support for features used
in our development as we using responsive
bootstrap. This will lead to changes in development
plan and will delay our progress
Monitor any updates on popular web browser
and / or bootstrap and make sure all UI design
works as intended on updated web browsers or
responsive bootstrap
Once you decide on
the risk mitigation
strategy then you plan
to implement the
same. Below is the
table wherein you can
list down the risk
identified and the
mitigation plan to curb
the same

Risk Mitigation Chart
17
Risks
Scope Creep Insufficient Testing Insufficient Resources
Design & execute to a strong
scope change procedure
› Design an effective testing
strategy
› Allow for sufficient time for unit
testing, system testing,
performance testing,
integration testing & user
testing
› Identify in the project charter
the project resources required
for success
› Identify a backup plan for each
resource
MitigationStrategy
Likelihood Impact
Medium High

Risk Control Matrix
18
KeyProcess
Number
Process
RiskNumber
Risk
ControlObjective
ControlNumber
Control
Description
Control
Owner
Process
Narrative
Control
Category
Control
type
Primary
Secondary
Control
Frequency
Design
Assessment
Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here Text Here
Prepare a risk control
matrix to have a close
tap on the risk related
measures you have
intended to take. The
below table helps you
to keep a log of the
control measures you
have decided to take to
manage the risk levels.

Risk Tracker (1/2)
19
ID Description of Risk Impact
Risk
Response
High Level Risk Owner Notes
1 Text Here Text Here Text Here Text Here Text Here Text Here
Below is the
template which
could be used to
track the risk
factors and how
we are planning
to overcome the
same

Risk Tracker (2/2)
20
Risk Items
Monthly Ranking
Schedule Risks
This Month Last Month
Number of
months
Inadequate Planning 1 2 4 Working on revising the entire project plan
Poor Definition of Scope 2 3 3
Holding meetings with project customer and
sponsor to clarify scope
Absence of leadership 3 1 2
Just assigned a new project manager to lead the
project after old one quit
Poor Cost Estimates 4 4 3 Revisiting cost estimates
Poor time Estimates 5 5 3 Revisiting schedule estimates
Below is the
template which
could be used to
track the risk
factors and the
progress we
have made so
far.

Risk Assessment & Mitigation Plan Icon Slide
21

10:15 To 10:30 AM
Let’s have a
Coffee Break
22

Column Chart
24
45
65
80
100
120
140
160
180
200
60
85
100
130
150
180
220
250
290
0
100
200
300
400
500
2009 2012 2013 2014 2015 2016 2017 2018 2019
ExpenditureIn($Billions)
Years
Product 01 Product 02
This graph/chart is linked to excel, and changes automatically based on data. Just left click on it and select “Edit Data”.

Our Mission
25
Mission
Goal
Vision

Meet Our Team
26
John Hill
CEO & Founder
Julie Smith
Finance Manager
Lee Hester
Production Manager

About Us
27
Values Client
Our Company
Premium Services

Our Goal
28
Goal 01
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Goal 02
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Goal 03
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Timeline
29
20182017 2019 2020 2021
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Location
30
North America
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audience’s attention.
South America
Asia
Africa

Post It
31
Text Here Text HereText Here

32
01
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02
03
Idea Generation

Thank You
33
Address
# street number, city, state
Email Address
emailaddress123@gmail.com
Contact Number
0123456789

Risk Management Plan

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