$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket?
Book Your Assignment at The Lowest Price
Now!
Students Who Viewed This Also Studied
MGMT401 Project Management
Question:
Develop a risk management plan
Deliverable:A risk management plan for an area of spend with recommended actions to mitigate specific risks.
Preparation:
- Identify a raw material or service within your area of responsibility that does not have an active risk management plan in place.
- Determine the key stakeholders using this material or service and the supply chain staff who manage this material or service. Contact them, explain the project and deliverable, and invite them to a meeting. There should be 6-8 people total attending the meeting.
- Before the meeting, prepare a supply chain for the material or service in as much detail as you have available.
Event Expectations:
1) Present the supply chain model to the team. Identify areas of the supply chain that have not been documented. Continue this process until the team agrees the supply chain is as complete as possible.
2) For each step of the supply chain, brainstorm and capture potential risks. Do not analyze risks at this time.
Risks can be categorized as: material, supplier (tier I, II, etc.), logistics, geographic (weather, politics), technology, etc.
3) Once the potential risks have been identified, determine the LIKELIHOOD that the risk will occur within the next year. This assessment should be based on company experience as well as external data sources. Rate the likelihood as 1 = low, 2 = medium, 3 = high.
4) Repeat this process for each potential risk and determine the IMPACT to the business if the risk occurs in the next year. Use the same 1 = low, 2 = medium, 3 = high scale. Impact could be loss of revenue, reputation, or employee health and safety.
5) Create a table for all the risks, with likelihood and impact:
|
Risk |
Likelihood |
Impact |
Score |
|
(Likelihood X Impact) |
|||
|
Risk 1 |
1 |
2 |
2 |
|
Risk 2 |
2 |
3 |
6 |
|
Risk 3 |
3 |
3 |
9 |
6) Develop a risk mitigation plan for all risks >/= 6. This may require a second meeting. The risk mitigation plan must include the actions required to reduce the risk to a score of
Event Debrief:Present the team findings and risk management plan to Procurement, Supply Chain, and Stakeholders to obtain their feedback and support for the risk management plan.
Summary of Learnings:
- The knowledge to analyze a supply chain and identify potential risks to supply that will negatively impact the business.
- A process to score these risks for likelihood of occurrence and the business impact if they did occur.
- The ability to develop a risk management plan to actively reduce specific risks.
MGMT401 Project Management
Answer in Detail
Solved by qualified expert
Get Access to This Answer
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.
Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.
Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.
Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.
16 More Pages to Come in This Document. Get access to the complete answer.
At MyAssignmenthelp.com, you can buy your assignment in Melbourne at highly competitive rates. We never compromise on quality despite our low prices and offer assignment help in Brisbane too, no matter which university you belong to. We also cover other regions in Australia and provide assignment help in Perth, Sydney and more. You can also avail CDR writing services from us as we have a large pool of experienced in-house CDR writers.
More MGMT401 MGMT401 Project Management: Questions & Answers
Business Communication Plan
Task Assessment 2 and Assessment 3 are to be completed using the Virtucon & Globex Scenario outlined in Interact 2 • Provide an overview of the project on which you are working. • Complete a project description. This should be written clearly and concisely so that anyone unfamiliar wit …
View Answer
CMIS 311 Supporting End-User Computing
Project 2 is to be completed at the end of Unit 2. It constitutes 25% of your final grade. This project consists of four parts.
Part 1 – Designing a Support Website Complete Chapter 6 Case Project 1 on page 289 of the textbook.
Begin by visiting at least four support websites (you may …
View Answer
Business Management
1. You need to work in ‘Groups’ and do a ‘Project Planning’ for an event. You are not going to do the event in ‘REAL’ but we are expecting a detailed project plan based on lecture slides, and project management tools and techniques. 2.   …
View Answer
Business Management
This assignment asks you to create a process model of the Methodology that you proposed in form of a Dynamic Business Model, describig the way the Federal Government could go about initiating and orchestrating the Energy Transition Plan Your process model should describe the main activities, which t …
View Answer
Content Removal Request
If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the
content removal request.
Choose Our Best Expert to Help You
Still in Two Minds? The Proof is in Numbers!
33845 Genuine Reviews With a Rating of 4.9/5.
English
Essay: 1.6 Pages, Deadline:
11 hours
I like how they help me. They are easy honest and always on time. I recommend them.
User ID: 8***35 United States
Civil Law
Home Work: 12 Pages, Deadline:
15 days
Thank you so much! It was a well-written and organized paper. Great job Thank you so much! Great job,Well written, but hoped for better grade, but i w …
User ID: 3***07 Cork, Ireland
Accounting
Assignment: 1400 Pages, Deadline:
8 days
It was very accurate. The research was done very well and I got nice marks . They really helped me with my work as I was struggling
User ID: 5***57 Sydney, Australia
Business Law
Assignment: 8 Pages, Deadline:
9 days
it was great assignment according to what was important, without mistakes, great
User ID: 8***11 Lincoln, Great Britain
Business Law
Assignment: 6.4 Pages, Deadline:
10 days
The assignment done by professional way and I got more than 85 marks for this subject. Thanks for the whole Nerddz team.
User ID: 2***65 Deepdene, Australia
Psychology
Assignment: 6.8 Pages, Deadline:
10 days
Great work done by the Team Nerddz. I got marks more than 85 for the subject. Thank you…
User ID: 2***65 Deepdene, Australia
Management
Assignment: 6 Pages, Deadline:
4 days
It was nice work and written in a good way. It helped me to increase my final grades for the same course and instructor praised me. Got good grades ov …
User ID: 5***29 Calgary, Canada
Economics
Assignment: 3.5 Pages, Deadline:
2 days
It was nice work and written in a good way. It helped me to increase my final grades for the same course and instructor praised me. 1 star less for im …
User ID: 5***29 Calgary, Canada
Management
Home Work: 3 Pages, Deadline:
1 day
This instructor was really very strict but still gave good marks. Abcdefghijklmno
User ID: 5***29 Calgary, Canada
Management
Thesis: 3 Pages, Deadline:
1 day
Amazing work on this! Got good marks excellent work by the writer. I did not expect so much marks
User ID: 5***29 Calgary, Canada
English
Essay: 1.6 Pages, Deadline:
11 hours
I like how they help me. They are easy honest and always on time. I recommend them.
User ID: 8***35 United States
Civil Law
Home Work: 12 Pages, Deadline:
15 days
Thank you so much! It was a well-written and organized paper. Great job Thank you so much! Great job,Well written, but hoped for better grade, but i w …
User ID: 3***07 Cork, Ireland
Accounting
Assignment: 1400 Pages, Deadline:
8 days
It was very accurate. The research was done very well and I got nice marks . They really helped me with my work as I was struggling
User ID: 5***57 Sydney, Australia
Business Law
Assignment: 8 Pages, Deadline:
9 days
it was great assignment according to what was important, without mistakes, great
User ID: 8***11 Lincoln, Great Britain
Business Law
Assignment: 6.4 Pages, Deadline:
10 days
The assignment done by professional way and I got more than 85 marks for this subject. Thanks for the whole Nerddz team.
User ID: 2***65 Deepdene, Australia
Psychology
Assignment: 6.8 Pages, Deadline:
10 days
Great work done by the Team Nerddz. I got marks more than 85 for the subject. Thank you…
User ID: 2***65 Deepdene, Australia
Management
Assignment: 6 Pages, Deadline:
4 days
It was nice work and written in a good way. It helped me to increase my final grades for the same course and instructor praised me. Got good grades ov …
User ID: 5***29 Calgary, Canada
Economics
Assignment: 3.5 Pages, Deadline:
2 days
It was nice work and written in a good way. It helped me to increase my final grades for the same course and instructor praised me. 1 star less for im …
User ID: 5***29 Calgary, Canada
Management
Home Work: 3 Pages, Deadline:
1 day
This instructor was really very strict but still gave good marks. Abcdefghijklmno
User ID: 5***29 Calgary, Canada
Management
Thesis: 3 Pages, Deadline:
1 day
Amazing work on this! Got good marks excellent work by the writer. I did not expect so much marks
User ID: 5***29 Calgary, Canada
