question archive In this case,I have been appointed the project manager of a large firm glass making company that distributes nationally
In this case,I have been appointed the project manager of a large firm glass making company that distributes nationally
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In this case,I have been appointed the project manager of a large firm glass making company that distributes nationally.
- Identify some of the positive and negative risks associated with this project, and then rank these risks based on their level of priorities.
- Discuss how each of these risks can affect the project team.
- Using the key processes of project risk management, propose risk-response plans to the identified risks, and identify how each team member can play a role in these plans.
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Answer:
Project risks are always considered to be uncertain situations which have the potential to positively or negatively impact on the process or a project. There are such kind of few risks asscociated with this glass manufacturing process.
As per this case, there are few identified risks as below,
|
S.NO |
POSITIVE RISKS |
PRIORITY |
NEGATIVE RISKS |
PRIORITY |
|
1 |
When there are additional funds available due to the change in government |
Low |
When the new government is very strict about the compliance and reporting paper works |
High |
|
2 |
Change in the local legislation would become less barriers to sell our products in a global market |
Medium |
Tariff and tax increase on the importing and exporting of our products |
Medium |
|
3 |
Delivering the stocks to the client before delivering date. |
Low |
Delays in the delivery of the stocks to the client |
High |
|
4 |
High productivity from the labors |
High |
Low Productivity, disruption due to natural calamities Say, The recent Pandemic |
Low |
Briefing on the above:
1. It’s always a risk when there is a change in the government where the business has been set up. These risks can be negative or even positive sometimes. When the change of government brings up additional funds to the glass company like, when the government favors glass industry by increasing the tax discounts then it is a positive risk. It is considered as a negative risk in the vice versa.
2. It’s again a risk when there is a change or added amendments to the local legislation where the business is set up. It is a negative risk for most of the time which could happen when there is more tax burden or more paperwork to be produced to the government and sometimes this factor also positively impacts the business.
3. Delay deliver in delivering the stocks is always a high risk for any business but in the vice versa it doesn’t create a big impact, but it would be profitable to the company.
4. This risk factor is same as the above, but the priorities are swapped.
Risk Response Plan to be followed by the Company:
|
Key Components of risks |
Risk Identification |
Risk Analysis |
Evaluate |
Treat |
Monitor |
|||
|
S. No |
Date |
Risk |
Probability of Occurrence |
Impact |
Rank |
Mitigation Action |
Team Member Responsible |
Status |
|
1 |
May-20 |
Change in Local Government |
Low |
Very High |
1 |
Avoiding risk is the response strategy herein this case where the manufacturing tries to protect the process from its influence. These are recorded in Risk Register for further use. These risks can be immediately conveyed to all the stock holders and make an attempt to intimate them about the potential changes when the new goverment is once sworn in |
Human Resource Manager- Legal Associate should be in touch with local government bodies to sort these kinds of problems |
|
|
2 |
|
Legislations and Amendments- Taxes & Tariffs |
Medium |
Medium |
2 |
Accept risk response strategy would be used for medium size categorized risks like this. The taxes and the tarrifs are always a potential threat to the process, so there should always be a reserve amount which helps in covering these kind of tough situations. |
Human Resource Manager- Legal Associate should be in touch with local government bodies to attend and sort these kinds of problems |
|
|
3 |
|
Early/Delayed delivery |
High |
High |
3 |
Risk response strategy can be use in this kind of situation where these cases can be avoided in the future. There should be regular track of the process and production outputs, new strategies can be formed if there is a lag in the delievry process. |
Process Delivery Manager and Shift Manager should keep a track on their regular work schedule and production reports |
|
|
4 |
|
High/Low Productivity |
Very High |
High |
4 |
Risk response strategy can be use in this kind of situation where these cases can be avoided in the future. There should be regular track of the process and production outputs, new strategies can be formed if there is a lag in the delievry process. |
Process Delivery Manager and Quality Manager should keep a track on their regular work schedule and production reports and in turn to maintain the quality as well |
|
These are the potential risks and its mitigations which could occur in the glass manufacturing company.
