undertake project work 522

RiskManagementPlanTemplate.docx

Risk ID	Risk	Risk Area	Likelihood	Impact	Consequence	Risk Ranking	Risk Level
1.1	Risk of breaching privacy Act while collecting internal documents regarding past recruitment process from HR Department	Legal Risk	Possible	Legal cost & loss of organisational credibility	1. Company may face fine & imprisonment 2. Company image may be blundered because of unauthorised share of candidate’s personal information	7	High – Significant expenditure

Legend:

Risk ID:	unique identification number to be assigned to each identified risk.
Risk:	potential risk associated with Perfect Coffee’s organisational change.
Risk Area:	Financial? work health and safety? commercial/market? Operational? Technology? Schedule? external environmental?
Likelihood:	The probability of risk occurring.
Impact:	What is the level of impact if risk occurs?
Consequence:	What may happen if risk occurs.
Risk Ranking:	Likelihood x Impact.
Risk Level:	The level of risk based on likelihood, impact and consequence (Risk Ranking).

Risk ID	Risk	Risk Area	Risk Ranking	Root Causes	Risk Treatment	Risk Control Measures Actions to be Taken	Monitoring Procedures	Responsible Person	Timeline
1.1	Risk of breaching privacy Act while collecting internal documents regarding past recruitment process from HR Department	Legal Risk	7	Accesseing unauthorised or personal information of past candidates	HR Manager should erage personal information of past candidates while sharing their recruitment information with Project Team Leader or Project ssistant	1. Put limit on share of HR File 2. Provide hard copy of information only by clearly marking them as “use for project purpose only”	Randomly check the use of HR files & information shared	By HR Manager	On a weekly basis

Legend:

Risk ID:	unique identification number to be assigned to each identified risk.
Risk:	potential risk associated with Perfect Coffee’s organisational change.
Risk Area:	Financial? work health and safety? commercial/market? Operational? Technology? Schedule? external environmental?
Risk Ranking:	Likelihood x Impact.
Root Causes:	Potential causes – mechanisms of failure for the risk event.
Risk Treatment:	What are the risk treatment options? · avoid risk? · remove the risk source? · mitigate risk? · transfer risk? · accept risk?
Risk Control Measures	What are the actions to be taken to control the risk event?
Monitoring Procedures	How will these risk treatment actions be monitored?
Responsible Person	Who are the stakeholders responsible for applying the risk control measures?
Timelines	What is the time frame required to take the necessary actions to control the risk event?

Risk Management Plan Version 1.0 | October 2016 Page 5 of 6

Score	Flag	Range	Description
5	Almost Certain	0.71-0.99	Risk is almost expected to occur.
4	Likely	0.46-0.70	Risk is common and will probably occur.
3	Possible	0.31-0.45	Risk may happen under certain situations.
2	Unlikely	0.16-0.30	Risk will probably not occur.
1	Rare	0.01-0.15	Risk is very uncommon and will probably occur under the most exceptional situations.

An impact of a potential risk must be analysed based on the following types of impact:

· cost impact: any cost incurred as a result of a failure of the project outcomes

· organisational impact: any loss of credibility and trust due to the failure of project outcomes

· productivity impact: any loss of productivity associated with a failure of the project outcomes.

Score	Flag	Cost	Organisational	Productivity
9	Extreme	Highly significant expenditure.	Long-term damage both internally and externally.	Severe reduction in productivity across the organisation.
7	High	Significant expenditure.	Long-term damage internally.	Significant loss of productivity across the organisation.
5	Moderate	Considerable Expenditure.	Medium-term damage to credibility internally.	Significant loss of productivity with interns.
3	Low	Insignificant expenditure.	Minor, short-term isolated damage in organisational image.	Considerable loss of productivity with interns.
1	Insignificant	Minor expenditure.	No noticeable impact on organisational image.	Minor loss of productivity across the organisation.

Risk Level

Low

(1-4)

Minor

(5-10)

Serious

(11-15)

Major

(16-25)

Catastrophic

(>25)