RISK MANAGEMENT -

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Risk Management

Project name: Project description: Currency:

ACP Ghee
Operation and Production Management

PKR

Date of workshop
12/9/2011 14-09-2011 16/09/2011

Participants
Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal, Sidra, Khurram, Minahal, Bushra Samana, Faisal Samana, Faisal, Sidra, Khurram, Minahal, Bushra

Comments
Initial discussion for proposal, organization selection. Organization selected, discussion about issues & game plan. Writing of proposal and general discussion. Deciding the format of the work final discussion on the Format and Key Areas work Distribution Information Gathering Initial Work submission Rewriting the report Reformatting and changes Final report evaluation by all group members

Date:

RISK MANAGEMENT -

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Risk Management

Observe

Colour code Serious Crucial Effect/Impact - Classification Probability - Classification 5 - Very high / near certainty 4 - High / highly likely 3 - Probable / likely 2 - Low / unlikely 1 - Very low / remote

5 - Catastrophic - the project cannot go on 4 - Very serious - long delay and/or high cost 3 - Serious - delay and/or quite high cost 2 - Less serious - short delay and/or little cost 1 - Insignificant - negligible delay and/or cost

Step 1 - Identification, listing, description and risk mitigation

Risk no
1 2 3 4 5 6 7 8 9 10 11 12 13 14

Description (including impact description)

Time constraint will increase the cost of production because the Work in process will be high. Process are very complex and it will cause problem for the employees to handle the process properly it is an edible item so it is very important to check the quality properly In country like Pakistan the pricing strategy should be very attractive because market is very price sensitive To work on edible products the company has to take care of the legal issues In our country the environment is very unpredictable both external and internal Resource allocation plays an important role and if not managed properly can destroy the operations Because of the Political instability the firm can experience losses To run operations properly the company should hire the employs that are skilled product avalabity should be kept in mind because if the product will not be available in the market the company is going to loss the market share The product should fulfill all the requirements of the market so that they can satisfy their needs supply network should be very effective means cost of supply should be low technology is chnging so the traing employes should be well trained factory layout is very important for the smooth processing

Effect Probability Identified Risk value classification By Category (1-5) (1-5)

Samana Sidra Faisal Minahal Bushra Khurram Faisal Samana Sidra Time Constraints

Risk value

Preventive actions

Comment / Assumptions

3 4 2 2 3 2 4 4 2

2 3 3 2 3 4

the capacity and demand should be analyzed properly 6

Risk can be managed wrong processes can effect the productivity low quality can decrease the market share pricing is very important and if not managed properly can effect the market share can be managed with the help of experts forecasting can help decrease the risk if resources allocated properly, then production will made very productive this cannot be forecasted easily and managed the proper HR practices will reduce the risk and can be managed properly

Methods / processes
Quality Assurance Pricing Legal issues Environment Resource Allocation Political instability Hiring

processes should be designed and monitored properly 12

their should be a proper department who check the material quality 6 pricing should be done keeping in view the competitors strategy 4 lawyer should be consulted before taking any legal step 9 8 forecasting should be done

alternative plans16 4 should be made and tested so that the best practices can be adopted 4 political affiliation should be kept low so that the effect can be minimal 16

2 staff should be hired keeping in view the requirements of the processes 4

market 3 needs should be forecasted and fulfilled on time the processes should be according to the need of the market 3 9
Faisal Samana minahal Bushra Khurram avalibility of the product requirements supply network Technolgy changes Layout risk can be managed with the help of proper planning

2 3

before process design the basic requirements should be kept in mind 6

product development and process development should be kept in mind choices should be kept in mind in case there is any problem with the current the suppliers proper training sessions should be run after every year risk can be managed properly if layout design is tested properly

network 4 should be kept flexible so that on the time of high demand the material can be bought 12

2 technology2 should be kept up to dated and the employees should be given proper training sessions 4 5 layout should be 10 2 designed so that the work can be completed on time and with low cost

Date:

Rev: PA1

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Risk Management

Risk no

Description (including impact description)

Effect Probability Identified Risk value classification By Category (1-5) (1-5)

Risk value

Preventive actions

Comment / Assumptions

Date:

Rev: PA1

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Risk Management

Risk no

Description (including impact description)

Effect Probability Identified Risk value classification By Category (1-5) (1-5)

Risk value

Preventive actions

Comment / Assumptions

Date:

Rev: PA1

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Risk Management

Risk areas
Commercial risks
Business objectives Contractual Financial Pricing Regulatory Consents Perception Partnering Business case Business model Qualification Legal Penalties Customs

Project risks
Team Tactics Tasks Resourcing Competencies Time constraints Time plan Collaboration Methods/Processes Environment Configuration management Change management Quality assurance Economy/budget Customer/receiving organization Communication Information Logistics Cultural awareness

Solution risks
Requirements Expectations Legacy environment Business processes Deliverables Partner agreement Product general availability Compliances Patent Installation (configuration data) Integration Customization Data Modelling and Data Migration Deadlocks, dependencies and deployment scenario Solution Design Base

Miscellaneous risks
References Experience Dependencies (general)

Date:

Rev: PA1