| Directions: Use this template to complete Jillson’s Custom Home Risk Management Plan assignment. Below is an example. The sample text must be removed and you must customize this template to fit the assignment. |
| Planning a Company Retirement Party |
| Risk Description | Probability | Impact | Factor | Owner | Mitigation |
| Budget is $15,000, however the hotel costs may be higher than originally quoted since there is a wedding the same weekend and the hotel is booked. | 2 | 3 | 6 | Sandy Arnold, CEO | Party would have not had a cover charge, but will charge each person $20-30 admission. |
| Gifts for retirees may not be ready by party deadline due to a delay in engraving, as the vendor may have a delay. | 2 | 2 | 4 | Sandy Arnold, CEO | Have certificates ready to allow gifts to be brought in to the vendor individually at no charge for engraving. |
| Party is outdoors, weather can be a risk if it rains | 2 | 2 | 4 | John Stone, PM | Tent Rental company, Tentations, has been contracted and on retainer in case weather is bad. They will set up same morning of party if called an hour in advance. |
| 100 guests are invited, if less than 70% show up there will be a surplus of food. | 1 | 1 | 1 | John Stone, PM | Andrew Jones will purchase and bring plastic containers to divide the food between guests that want to take it home. |
| Key |
| Probability |
| 1 = Low likelyhood of occurance |
| 2 = Medium likelihood of occurance |
| 3 = High Likelyhood of occuring |
| Impact |
| 1 = Not severe, very tolerable risk |
| 2 = Moderate impact that can be remedied |
| 3 = Severe can make a grade impact |
| Factor Table |
| Probability | 1 | 2 | 3 |
| Impact |
| 1 | 1 | 2 | 3 |
| 2 | 2 | 4 | 6 |
| 3 | 3 | 6 | 9 |
| 1 - 3 Factor is considered in the Green Range and acceptable |
| 4 - 5 Factor is considered in the Yellow Range and mitigation plan should be in place |
| 6+ Factor is Severe and risk should be escalated. |
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intro_to_pm_unit_v_risktemplate.xls
