Risk Management Plan for Cab Service

Risk Management:
Managing risks on projects is a process that
includes risk assessment and a mitigation strategy for those risks. Risk
assessment includes both the identification of potential risk and the evaluation of
the potential impact of the risk. A risk mitigation plan is designed to eliminate or
minimize the impact of the risk events occurrences that have a negative impact on
the project. Identifying risk is both a creative and a disciplined process. The
creative process includes brainstorming sessions where the team is asked to create
a list of everything that could go wrong. All ideas are welcome at this stage with
the evaluation of the ideas coming later.

Project Summary:
Attacks happen in evidently safe countries, natural disasters and diseases increase
the requirements in travel risk management. Our priority is to provide a safe and
reliable travel to our travelers. To accomplish our goal we must have an efficient
and effective risk management plan on our hands.
Karachi, Pakistan. It’s the middle of the night as the traveler needs to be
somewhere and it’s an emergency on the ride to the hospital, the car is being
stopped as they got in contact with robbers or terrorist attackers. To handle any of
this situation management or driver must have an emergency plan ready to execute
because otherwise either travelers are going to lose their lives or their valuables.
86% of the travelers value important safety information about the driver or
travelling agency they are going to use.

Opportunity Statement:
The main purpose of this project is to take
our travelers to their destination safe and sound and also to make a risk
management plan which can make our services better and error free.

Scope and Methodology:

In Pakistan the most used cab services are “uber” and “careem”. Uber’s primary
business involves connecting consumers looking for rides with available drivers
via the use of a mobile application the “Uber app”. Uber users can request that
Uber facilitate a ride via the Uber app. The Uber app locates nearby available
drivers by referencing the user’s location, which is set by the user or determined by
the device location information of the user’s smartphone. After a user requests a
ride, the driver who accepts the request will pick up and transport the user to the
desired destination. Uber charges the user via the user’s previously provided
payment method. In the course of providing these services, the Company collects
information about users and their rides. Uber announced that it had retained an
agency to review and assess the Company’s Privacy Program, and to recommend
enhancements that will further Uber’s goal of being a leader in privacy and data
protection.

In Scope:
 Human Resource Management
 Cab
 Access to uber’s App
 Financials
 Cab repairing service

Out Scope:
 Asset maintenance
 Security
 Driver’s training
 Parcel and courier delivery

Assumptions:
 All resources are being utilized effectively and efficiently
 All workers are working properly
 All drivers are ethically well
 App is working properly
 Proper communication between uber management and driver
 Proper communication between customer and driver
Constraints
Scope
(Performance, quality ride, functional app)

Cost Time

App maintenance, Driver’s schedule,

human resource app response
management

Business Constraints:
Rental cars, Taxis, human resource management budget, schedules.

Technical Constraints:
App maintenance, app functionality, app design and updating.

Risk identification:
A more disciplined process involves using checklists of potential risks and
evaluating the likelihood that those events might happen on the project. Some
companies and industries develop risk checklists based on experience from past
projects. These checklists can be helpful to the project manager and project team in
identifying both specific risks on the checklist and expanding the thinking of the
team. The past experience of the project team, project experience within the
company, and experts in the industry can be valuable resources for identifying
potential risk on a project.
Identifying the sources of risk by category is another method for exploring
potential risk on a project. Some of our potential risks are as follows:
 Technical
 Cost
 Schedule
 Client
 Contractual
 Weather
 Financial
 Political
 Environmental
 People
 Data privacy

Risk evaluation:
After the potential risks have been identified, the project
team then evaluates the risk based on the probability that the risk event will occur
and the potential loss associated with the event. Not all risks are equal. Some risk
events are more likely to happen than others, and the cost of a risk event can vary
greatly. Evaluating the risk for probability of occurrence and the severity or the
potential loss to the project is the next step in the risk management process.

Project risk evaluation:

RUPLA
R=rare
U=unlikely
P=possible
L=likely
A=Almost certain

Impact:
Low
Medium
High
Extreme
Risk probability impact comments
Lack of training R U P L A L M H E
risk

Stress and fatigue R U P L A L M H E

Safety risk R U P L A L M H E

Legal risks: R U P L A L M H E

Emergency risk R U P L A L M H E

Weather R U P L A L M H E

Contractual R U P L A L M H E

Weather R U P L A L M H E

Cost R U P L A L M H E

Technical R U P L A L M H E
Cost
Weather R U P L A L M H E

economical risk R U P L A L M H E

Legal risk R U P L A L M H E
External R U P L A L M H E
Environmental

Political risk R U P L A L M H E

Social risk R U P L A L M H E

Technological risk R U P L A L M H E

Management R U P L A L M H E
integration risk

Operation risk R U P L A L M H E
High Orange

Medium Yellow

Low Green

Extreme Red

Rating Insignific Minor Modera Major Catastrophi

ant te c
Almost Certain
Controls Extrem
High High Extreme Extreme
unsatisfactory to e
mitigate the risk
Likely Controls
inadequate to
Extrem
mitigate the risk Medium High High Extreme
e
and require
improvement
Possible Controls
reasonable /
adequate to
Mediu Extrem
mitigate the risk Low High Extreme
m e
but may still
require
improvement
Unlikely Controls
robust and Mediu
Low Medium High Extreme
adequate to m
mitigate the risk
Rare Controls
strong to mitigate Low Low Medium High High
the risk
Driver related risks:
Risks Risk rating Residual Risk Rating
Stress and fatigue Minor Low
Speeding Major High
Distraction (unnecessary use Major High
of mobile)
Unethical behavior Minor High
Illegal use of drug Major Low

Technical risks:
Risks Risk rating Residual Risk Rating
App failure Major High
GPS tracker failure Major low
Customer privacy Major High
Data loss Moderate Low

Passenger related risk:

Risk Risk rating Residual Risk Rating
Non availability of vehicle Minor Low
Passenger safety Major Low
Customer’s data privacy Major Low
Robbery Moderate Medium

Legal risks:
Risk Risk rating Residual Risk Rating
Stolen car Major Low
Speed limit Moderate High
License Major Medium
Controls and solutions:
Risks Controls
Stress and fatigue Schedule and time limit for drivers.
Speeding Speed assistance
Unethical behavior Training and feedback
Use of drugs Drug test
Passenger safety Driver background check and vehicle maintenance
App failure Technical staff
Unauthorized access Strong password and web security checks

Solutions:
 Analyzing problems and taking safety measurements
 Maintain technical and business constraints properly
 Strong communication between all the related parties
 Immediate reaction to an emergency
 Meet all customer’s expectations
 Take feedback and make improvement accordingly