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PMG644Unit2Assignment.pdf

Due Date: Sunday at 11:59 pm of Unit 2 Total Points:100 Overview: In this assignment, you will combine your work from the previous week and create a risk register. Instructions: Download the attached assignment template, complete the risk register based on the risks you identified in Unit 1’s assignment and answer the following two questions in the assignment template:

1. What is the significance of a risk register?

2. Explain in detail the need and the importance of each column listed in the risk register listed in the assignment template.

Requirements:

• Use the attached word document template to create a Risk Register from last week’s assignment

o Each response should be at least 200 words in length. • Your answers should be clearly articulated. • You do not need to follow APA formatting for this assignment.

Be sure to read the criteria, by which your paper/project will be evaluated, before you write, and again after you write.

PMG644 – Project Procurement Management

Unit 2 Assignment: Risk Register

Evaluation Rubric for Unit 2 Assignment

CRITERIA Exemplary Proficient Needs Improvement

Deficient

(30 points) (24-29 points) (18-23 points) (0-17 points)

Risk Register is Clearly Presented with all Identified Risks

Risk Register is clearly presented with all identified risks, including all details.

Risk Register is present, but is missing minor details.

Risk Register is present but is missing key details.

Risk Register is missing or poorly presented.

(35 points) (28-34 points) (21-27 points) (0-20 points)

Question 1 Question 1 is clearly answered, including all details.

Question 1 is answered but is missing minor details.

Question 1 is answered but is missing key details.

Question 1 is missing or poorly presented.

Question 2 Question 2 is clearly answered and presented with all the required details.

Question 2 is answered but missing minor details.

Question 2 is answered but missing key details.

Question 2 is missing or poorly presented.

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resources may not be reproduced, revised, or distributed without the written permission of Post

University. Students found to be in violation of this policy are subject to civil and criminal liabilities

associated with the Federal Copyright Act and risk dismissal from the university under the Academic

Dishonesty policy. Unless otherwise noted, access to these materials is limited to the duration of

the course. Students should contact the library (library@post.edu) for information on which

resources can be printed.

PMG644Unit1Assignment.docx

PMG644 – Program Procurement

Week 1 – Risk Identification Assignment

Instructions:

1. Please read the case study details under week 1 assignment.

2. Select the top 5 risks that you think are the more important and relevant to this project.

3. Complete the table below, save, and submit for evaluation by Sunday at 11:59 of Unit 1.

Project Overview

Acme Inc., a Houston-based mid-size company specializing in manufacturing a variety of fans, is planning to relocate its production facility from Dallas, Texas, to Guangzhou, China. This decision is driven by financial stress and the expiration of the current lease for the Dallas facility in six months. The administrative office will remain in Houston, and 10% of the workforce from the US will be relocated to China to facilitate the transition. The company has ongoing contractual obligations to deliver products over the next 24 months. This document outlines the substantial risks associated with this project and proposes mitigation strategies Mao, V. (2019, January 14).

#

Risk

Description

Probability

(High, Med, Low)

1

Operational Disruption

The relocation of the production facility from Dallas to Guangzhou poses significant risks to Acme Inc.'s operational continuity. The transition period is likely to involve substantial downtime due to the physical transportation of machinery, setup, and calibration of equipment in the new location. There is also the risk of unexpected technical issues arising from the relocation of sophisticated production machinery. These disruptions can severely impact the company's ability to meet production deadlines and fulfill customer orders, jeopardizing contractual obligations and potentially leading to financial penalties, loss of revenue, and damage to Acme Inc.'s reputation Gultie, E. (2013, January).

High

2

Workforce Transition Issues

he decision to relocate 10% of Acme Inc.'s workforce from the US to China presents several challenges, including potential resistance to relocation, cultural and language barriers, and the overall adaptation process to the new working environment. Employees may face difficulties in adjusting to a different cultural context, leading to decreased morale and productivity. There may also be family-related issues, such as finding suitable housing and schools, which can add to the stress of relocating. Additionally, integrating with local employees who have different work habits and expectations can create friction and disrupt the smooth operation of the new facility Reshoring Verband. (2023, May 10).

High

3

Regulatory and Compliance Risk

Moving operations to China introduces a complex array of regulatory and compliance challenges. The legal and regulatory environment in China is significantly different from that in the US, encompassing areas such as labor laws, environmental regulations, health and safety standards, and intellectual property protections. Non-compliance with local laws can result in severe penalties, including fines, operational shutdowns, and legal disputes. Moreover, navigating the bureaucratic processes to obtain the necessary permits and licenses can be time-consuming and challenging, potentially causing delays in the commencement of operations at the new facility Gultie, E. (2013, January).

High

4

Supply Chain Disruption

Relocating the production facility to Guangzhou may disrupt Acme Inc.'s established supply chain network. The new location may affect the company's ability to source raw materials and components in a timely manner and at competitive costs. There is also the risk of logistical challenges, such as delays in shipping finished products to customers due to customs procedures, transportation bottlenecks, and potential trade restrictions. Such disruptions can lead to increased lead times, higher costs, and unmet customer expectations, thereby affecting the company's bottom line and customer relationships Reshoring Verband. (2023, May 10).

Medium

5

Cost Overruns

The relocation of the production facility involves substantial costs, including moving equipment, setting up the new facility, employee relocation expenses, and potential downtime. There is a significant risk that these costs may exceed initial estimates due to unforeseen expenses, such as additional logistics costs, delays, or technical issues during the setting up of new equipment. Cost overruns can put additional financial strain on Acme Inc., affecting profitability and potentially leading to liquidity issues if not managed properly Gultie, E. (2013, January).

High

The relocation of Acme Inc.'s production facility from Dallas to Guangzhou presents several substantial risks. However, with careful planning and strategic mitigation measures, these risks can be managed effectively to ensure a smooth and successful transition. This risk assessment provides a foundation for developing a comprehensive project plan that addresses potential challenges and positions Acme Inc. for continued success in its new location Mao, V. (2019, January 14). 

References

Gultie, E. (2013, January). Supply chain risks associated with relocating a production system to a foreign market. https://www.diva-portal.org/smash/get/diva2:621142/FULLTEXT01.pdf

Mao, V. (2019, January 14). Relocating a business in China: A checklist for investors. China Briefing. https://www.china-briefing.com/news/relocating-business-china/

Mao, V., Xu, A., & Dwyer, P. (2019, July 15). Business relocation in China: How to manage legal, tax, and HR concerns. China Briefing. https://www.china-briefing.com/news/business-relocation-manage-legal-tax-hr-concerns/

Reshoring Verband. (2023, May 10). Challenges and solutions in production relocation. https://reshoringverband.de/en/challenges-and-solutions-in-production-relocation-2/

PMG644-Unit2-AssignmentTemplate.docx

PMG644 – Week 2 – Assignment

Risk Register

ID

Description of Risk

Risk Impact

Risk Response

Probability

L(1)-M(2)-H(3)

Impact L(1)-M(2)-H(3)

PI Score (Prob x Impact)

Risk Owner

Response Description

Expected Response Impact

R01

Supplier delay

Pushes product launch

Confirm delivery dates by phase 2

2 

3 

6 

John Smith

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1. Why a Risk Register necessary? (Provide your answer below, minimum 200 words)

Q2. Explain in detail the need and the importance of each column listed in the risk register listed above? (Provide your answer below, minimum 200 words)