Risk Assessment Strategies for Your Company

Risk Assessment Strategies
Your Company Name

Content
Risk Management Plan01
Risk Assessment02
Risk Response Matrix03
Risk Mitigation Chart04
Risk Identification05
Risk Analysis06
Risk Mitigation Strategies07
Risk Control Chart08
Risk Register09
Risk Response Plan10
Risk Mitigation Plan11
Risk Tracker12
2

Risk Management Plan
Type of
Risk
Outcome
Existing risk treatment
actions in place
Rating
Proposed risk treatment
actions to mitigate risk
Additional
resources
Target
date
Person
responsible
Strategic
risk
Performanc
e
deterioratio
n
Proper assessment of
underlying strategies
2
Detailed understanding of the
market
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31/4/201
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John
Smith
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Below is the template to list
down the plan to manage the
types of risks expected by
the company
3

4
Risk Identification (1/2)
✓ This slide is 100% editable. Adapt it to your
needs and capture your audience's attention.
0Consequences
Likelihood
Terminate
TreatTolerate
Transfer
This graph shows the
likelihood and impact of risk
on the company and the
strategy which the company
might opt to mange the risk.
You can alter this as per
your

How long can you
do without?
Impact of
doing without?
Vulnerabilities?
Contingency in case
of a disaster?
Equipment (IT only) 5 days
After five days no way to
schedule production or
track orders
No UPS/ generator., MD
hardware, SPOF SME
Use paper reports for 5 days then
go manual for as many members
as possible
Facility 0 days
No production, potential
for bankruptcy, IT non-
existent
Metal building, flood zone, poor
maintenance, no perimeter
security , door lock broken
Look for warehouse space, attempt
to salvage equipment and restart
operation, file bankruptcy
Personnel 0 days
Degraded operations, low
service levels
Too many SPOF
Best effort shifting of available staff,
temps
Raw Materials
30 days before new
deliveries
None until on hard
exhausted
Single supplier relationship Search for alternatives supplier
Transportation
System
30 days in 2 days out
No suppliers
No deliveries
Location, design of entrance None
Utilities
0 hours/power
0 hours/water
Extrusion shuts down,
lines cleaned, waste
collected and prepared
for grinder, IT non-
existent
Single power feed, no generator
or backup water supply
None
Vendors (Sourcing) 4 hours No call centre Mercy of vendor Being in-house
Risk Identification- Example
5
We have given an example
of identifying risk in the
below table, you can alter
the fields as per your needs

Risk Identification (2/2)
Cost
✓ Budget Exceeded
✓ Unanticipated Expenditure
Resources
✓ Team is under-
resourced
✓ Materials shortage
✓ Machinery unavailable
✓ Industrial Action
✓ Skills gap
Environmental
✓ Bad weather results in re-work
✓ Weather delays progress
✓ Adverse environmental effects occur
✓ Environmental approvals not complied with
Communication
✓ Poor communication
(Stakeholder dissatisfaction)
✓ Positive & timely
communications (positive
publicity)
Time
✓ Schedule overruns
✓ Tasks omitted from Schedule
✓ Opportunity to compress
Schedule
Scope
✓ Scope creep
✓ Scope poorly defined
✓ Project changes poorly
managed
Identify
Risks
This is another way of
identifying the types of risk
associated with a project
basis different types of
factors like cost, time,
resources etc. You can list
down the risk associated with
all/ some of these factors as
per your requirements
6

Risk Register
Type of
risk
Description
of risk
Probability Impact Risk reduction
strategy
Contingency
Plans
Risk
Owner
H M L Perf Cost Time
Text Here Text Here Text Here Text Here Text Here Text Here Text Here
7
Maintain a risk register to
keep a close track of all the
risks faced by the company
and their impact on the
company performance

Risk Assessment
Risk Rating Guide
Probability Impact Impact
High (5)
✓ Major uncertainties remain
✓ No or little prior experience or data
✓ Infrastructure and/or resources not
in place
✓ Performance, quality, cost or safety impacts
resulting in major redesign and program delay
Medium
(3)
✓ Some uncertainties remain
✓ Some experience and data exist
✓ Infrastructure in place but under-
resourced
✓ Performance, quality, cost and/or safety impacts
resulting in minor redesign and schedule
adjustment
Low (1)
✓ Few uncertainties remain
✓ Significant experience and data exist
✓ Infrastructure in place and fully
✓ Performance, quality, cost and safety
requirements met within planned schedule
Risk Scoring System
Consequences Likelihood of Occurrence Likelihood of detection
1. No. direct effect on operating service level
2. Minor deterioration in operating service level
3. Definite reduction in operating service level
4. Source deterioration in operating service level
5. Operating service level approaches zero
E. Probability of once in many years
D. Probability of once in many operating months
C. Probability of once in some operating weeks
B. Probability of weekly occurrence
A. Probability of daily occurrence
A. Detectability is very high
B. Considerable warning of failure before occurrence
C. Some warning of failure before occurrence
D. Little warning of failure before occurrence
E. Detectability is effectively zero
We have listed the
framework for assessing the
risk level. You can use the
same for risk assessment
Low Medium
Hig
h
1 3 5 R
Show
stopper
High
5
5 15 25 O
Significant
risk
Medium
3
3 9 15 Y
Proceed
with
caution
Low
1
1 3 5 G
No
concern
8

Risk Assessment (contd..)
Risk Scoring Results
Consequences
Insignificant Minor Moderate Major Catastrophic
Likelihood 1 2 3 4 5
A. Almost Certain - - - - -
B. Likely - - - - -
C. Possible - - - - -
D. Unlikely - - - - -
E. Rare - - - - -
Extreme Risk High Risk Moderate Risk Low Risk
Immediate Action where senior
management get involved
Management responsibility should
be specified
Managed by specific
responsible person
Managed by
routine process
On the basis of the
framework, you can obtain
the risk score and determine
its likelihood of occurrence
9

Risk Analysis – Simplified Format
Risk Items (Potential Future
Problems Derived from
Brainstorming)
Likelihood of Risk
Item Occurring
Impact to Project if
Risk Item Does Occur
Priority (Likelihood *
Impact)
New operating system may be unstable 10 10 100
Communication problems over system issues 8 9 72
We may not have the right requirements 9 6 54
Requirements may change late in the cycle 7 7 49
Database software may arrive late 4 8 32
Key people might leave 2 10 20
Below is the simple version
of analysing the risk level on
the basis of the mentioned
parameters. You can alter
these values & parameters
as per your requirements
10

Risk Analysis- Complex
Description of Risk Control Measures
(Detail any existing Controls)
Risk Analysis Additional Control
(Detail additional to be
implemented Controls)
Risk Analysis(with additional
controls)
C L
Risk
Rating C L
Risk
Rating
Step 1: Consider Step 2: Consider Likelihood Step 3: Calculation Risk
What is the consequence of the hazard occurring. Consider what
is the most possible consequence with respect to work
What is the likelihood of the hazard consequences occurring
in Step1
1. Take Step 1 rating and select correct column
2. 2. Take Step 2 rating and select correct row
3. 3. Use the risk score where the two ratings cross on the
matrix below.
Safety at work Regulatory Almost Is expected to occur in most H = High, S = Serious, M = Medium, L = Low
Extreme Sickness Non compliance Certain Circumstances (once per year) Likelihood
Critical Casualty
Major non
compliance
Likely Will probably occur once (every 5 year)
Major
Medical
treatment
Warning Possible
Event might occur at some time
(10years)
Minor First aid
Minor non
compliance
Unlikely/ Rare
Event expected to occur only in exceptional
circumstances (20+ years)
Below is a complex version
of analysing the risk level.
We have listed the steps to
be followed in calculating the
risk and its certainty. Using
these steps you can estimate
the risk level associated with
your project/ company.
Minor Major Critical Extreme
Almost Certain S(A4) S(A3) H(A2) H(A1)
Likely M(B4) S(B3) H(B2) H(B1)
Possible L(C4) M(C3) S(C2) S(C1)
Unlikely Rare L (D4) M(D3) M(D2) S(D1)
11

Risk Response Plan
There are many ways in
which you can respond to
the risk levels. We have
listed down below both the
negative & positive risk
response ways. You can
choose any as per your
requirements.
Exploit
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to your needs and capture your
audience's attention.
Enhance
Share
Accept
Mitigate
Transfer
Accept
Avoid
Responding To Risk
Negative
Risk
Positive
Risk
12

13
Retain
Different Site
Conditions
Weather
Delays Unrealistic
Schedule
Avoid
Design
Changes
Labor
Productivity
Transfer
Defective
Work
Retain
Equipment
Failure
Labor dispute
/ Strike
0 10 20 30 40 50
20
60
100
40
80
Probability
Risk Response Matrix (2/2)
✓ This slide is 100% editable. Adapt it to your needs
and capture your audience's attention.
You can also show the risk
response with the help of
graph showcasing the
probability of risk and the risk
response associated with the
same.

Risk Mitigation Strategies
Technical Risks Cost Risks Schedule Risks
Emphasize team support and avoid stand-
alone project Structure
Increase the frequency of project monitoring Increase the frequency of project monitoring
Increase project manager authority
Improve problem handling and communication
Improve communication, project goals
understanding, and team support
Select the most experienced project manager
Increase the frequency of project monitoring Increase project manager authority
This strategy is used to
reduce the adverse effects of
risk. We have listed down the
three categories of risk and
also the strategies to be
opted to manage the risk
levels. You can alter these
as per your requirements.
14

Mitigation Strategy
HighMediumLow
ProbabilityImpactScore
Risk Will Be Tested On A Daily Basis. The Risk
Owner Will Document All Avoidance & Mitigation
Efforts. This Would Be Practiced Until The Risk Level
Is Acceptable Or Has Been Avoided Altogether
Risk Will Be Tested On A Weekly Basis. The Risk
Owner Will Document All Avoidance & Mitigation
Efforts. This Would Be Practiced Until The Risk
Level Is Acceptable Or Has Been Avoided
Altogether
Risk Will Be Tested Weekly. No
Mitigation Or Avoidance Efforts Are
Necessary Unless Risk Elevates.
Control Strategy
15

Risk Mitigation Plan
Category Identified Risk Mitigation Plan
Client
Management
Miscommunication with sponsor/ client
regarding project requirement and
expectations
Update client more frequently along the
way with project progress
Server
Server is down which causes project to be
slightly delayed due to application not able
to load
Perform periodical check on server status
Technical
Popular web browsers or bootstrap may
get an update that will discontinue support
for features used in our development as
we using responsive bootstrap. This will
lead to changes in development plan and
will delay our progress
Monitor any updates on popular web
browser and / or bootstrap and make sure
all UI design works as intended on
updated web browsers or responsive
bootstrap
Once you decide on the risk
mitigation strategy then you
plan to implement the same.
Below is the table wherein
you can list down the risk
identified and the mitigation
plan to curb the same.
16

MitigationStrategy
Risk Mitigation Chart
Likelihood Impact
Medium High
✓ Identify in the project charter the project
resources required for success
✓ Identify a backup plan for each resource
Insufficient Resources
✓ Design & execute to a strong
scope change procedure
Scope Creep
✓ Design an effective testing strategy
✓ Allow for sufficient time for unit testing,
system testing, performance testing,
integration testing & user testing
Insufficient Testing
Risks
17

Risk Control Matrix
KeyProcess
Number
Process
RiskNumber
Risk
Control
Objective
Control
Number
Control
Description
Control
Owner
Process
Narrative
Control
Category
Control
Type
Primary
Secondary
Control
Frequency
Design
Assessment
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Prepare a risk control matrix
to have a close tap on the
risk related measures you
have intended to take. The
below table helps you to
keep a log of the control
measures you have decided
to take to manage the risk
levels.
18

Risk Tracker (1/2)
ID
Description of
Risk
Impact Risk Response High Level Risk Owner Notes
1 Your Text Here Text Here Text Here Text Here Text Here Text Here
4 Text Here Text Here Text Here Text Here Text Here Text Here
Below is the template which
could be used to track the
risk factors and how we are
planning to overcome the
same
19

Risk Item Tracking (2/2)
Risk Items
Monthly Ranking
Risk Resolution
This Month Last Month
Number of
months
Inadequate Planning 1 2 4
Working on revising the entire
project plan
Poor Definition of Scope 2 3 3
Holding meetings with project
customer and sponsor to clarify
scope
Absence of leadership 3 1 2
Just assigned a new project
manager to lead the project after old
one quit
Poor Cost Estimates 4 4 3 Revisiting cost estimates
Poor time Estimates 5 5 3 Revisiting schedule estimates
Below is the template which
could be used to track the
risk factors and the progress
we have made so far.
20

Risk Assessment Strategy Icon Slide
21

Coffee Break
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capture your audience's attention.
11:00 am-11:15 am
22

Clustered Bar
40
30
25
45
0
10
20
30
40
50
Jan Feb Mar Apr
Profit(Inpercentage)
✓ Product 01
15
32
48
40
0
10
20
30
40
50
Jan Feb Mar Apr
Profit(Inpercentage)
✓ Product 02
This graph/chart is linked to excel, and changes automatically based on data. Just left click on it and select “Edit Data”.
24

Area Chart
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
DecNovOctSepAugJulJunMayAprMarFebJan
✓ Product 01
✓ Product 02
25

Bar Chart
3
4
5
6
7
8
9
10
11
0
2
4
6
8
10
12
FY 01 FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09
SalesInpercentage ✓ Product 01 ✓ Product 02
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Bubble Chart
20
60
30
40
75
55
80
90
10
20
30
40
50
60
70
80
90
100
10 20 30 40 50
Profit(InSales)
✓ Product 01 ✓ Product 02
27

29
Our Mission
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Annie Smith
Designation
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editable. Adapt it to your
needs and capture your
Elisabeth Clark
Designation
This slide is 100%
Mary Tucker
Designation
This slide is 100%
Jessica White
Designation
This slide is 100%
Our Team
30

31
Preferred By Many
Valued Clients
Premium Services
About Us

Our Goal
03 02
04 01
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your needs and capture your audience's
attention.
Text Here
attention.
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attention.
Text Here
attention.
Text Here
32

Timeline
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Adapt it to your needs and
capture your audience's
attention.
attention.
2014 2016
attention.
attention.
20172015
01 02 03 04
33

Location
Men
Women
Australia
70 Million User
Russia
35 Million User
USA
15 Million User
Brazil
50 Million User
34

Post It
attention.
01
attention.
02
attention.
04
35

This slide is 100% editable. Adapt
it to your needs and capture your
35%
70%
Financial
36
Financial

Target
attention.
Text Here
attention.
Text Here
your needs and capture your
Text Here
attention.
Text Here
37

Puzzle
01
02
04
03
Adapt it to your needs and capture your
Adapt it to your needs and capture your
38

Tex t
H e r e
Magnifying
Glass
39

Bulb or idea
40

Thank
You
Address:
# street number, city, state
Contact Numbers:
0123456789
Email Address:
emailaddress123@gmail.com
41

Risk Assessment Strategies for Your Company

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Risk Assessment Strategies for Your Company