The Risk Qualification And Prioritization

Published Date: 02 Nov 2017

INTRODUCTION 3

MAJOR RISKS 3

RISK MANAGEMENT APPROACH 4

RISK IDENTIFICATION 4

RISK QUALIFICATION AND PRIORITIZATION 4

RISK MONITORING 5

RISK MITIGATION AND AVODANCE 5

SPONSOR ACCEPTANCE 6

INTRODUCTION

This Risk Management Plan defines how risks associated with the ISO 9001 Compliance Audit project will be identified, evaluated, and managed. It provides guidelines stipulating how risk management activities will be performed, logged, and controlled throughout the lifecycle of the project. This risk management plan is intended for the project team, project sponsor and the school management.

Risk Management Roles and Responsibilities

The Project Manager will serve as the Risk Manager for this project.

The Project Manager, stakeholders and the Project team will be in attendance at every risk assessment meeting to proactively identify risks and come up with suitable measures to mitigate these risks.

MAJOR RISKS

Ensuring ISO 9001compliance at the multicultural center is a necessary step to not only winning the bid but it is also crucial to quality management and standardization of the school’s processes and operations. It is also not without its risks. The following risks were identified as having high probability of occurrence and high impact, should they occur, on the successful implementation of the project.

Inadequately skilled staff to meet the requirements.

Due to the intricacy of the software being implemented, it is necessary for staff to be properly informed, knowledgeable and skilled to enable them use this software effectively. The project manager should make provisions for comprehensive training sessions for members of staff prior to the implementation of Vivaldi QMS.

Underestimation of time required for the project.

Due to the fact that this project would be carried out abroad, we may have underestimated the time to complete the project. We anticipate unnecessary bureaucratic bottlenecks in getting required approvals which would delay project implementation. The project manager has therefore requested that the team be willing to work overtime where necessary.

The introduction of new documents or additions to existing documents.

To make the ISO 9001 Compliance simple and less cumbersome to accomplish, we would reuse, as much as possible, already existing processes and procedures. This would reduce the need for countless new documents and may lessen the need for training.

RISK MANAGEMENT APPROACH

To manage risks for this project, the project team systematically identified and categorized the various risks in terms of probability / likelihood of occurrence and severity of impact.

The project manager, who is also the risk manager should ensure that the necessary steps are taken to implement the risk mitigation strategy when and where appropriate. The risk manager will also provide status updates during project meetings on how well risks were mitigated and managed.

At the close of the project, the project manager will analyze each risk and its mitigation process as well as any suggestions that would improve the risk management process in the future.

RISK IDENTIFICATION

During the preliminary project risk assessment meeting, the project team started out with identifying possible risks using the Delphi method. All team members independently made a list of potential risks and their effects.

Review of Similar Past Projects

The project team reviewed the risks of similar past projects and the effective risk mitigation strategies used.

Evaluation of Organizational Structure and Staffing

The project team assessed the current organizational staffing and discovered that the staff did not have the requisite training to enable a smooth implementation of the ISO 9001.

Risk Assessment Meeting

A risk assessment meeting was held with project team members and stakeholders in attendance. Some risks identified during this meeting.

Expert Interview

Expert Interviews were held for this project and these interviews revealed several risks.

All the risks identified were taken into consideration by incorporating corresponding risk mitigation strategies in the project plan.

RISK QUALIFICATION AND PRIORITIZATION

All the risks identified were classed into the following four classes using a probability-impact chart:

Low impact/Low probability

Low impact/High probability

High impact/Low probability

High impact/high probability

This classification helped the Project Manager prioritize risks with respect to the impact on the project.

RISK MONITORING

Risks with high impact and high probability and mitigation strategies were included in the project plan to ensure that they are closely observed and mitigated at the time the project is vulnerable to that risk.

Risk monitoring is an ongoing process and the Risk Manager would, at every meeting, give status updates which will include the risk status, identification of trigger conditions, and the documentation of the results of the risk response.

RISK MITIGATION AND AVOIDANCE

Risks for this project will be monitored and controlled within the three constraints of time, scope and cost. The project team has developed mitigation plans for identified risks to ensure that risks are managed within the triple constraints. These have been incorporated in the project plan.

In extreme and inevitable cases only it may be necessary to allow flexibility to one of the project’s constraints. Only one of the constraints – cost, for this project allows for flexibility as a last resort. Where necessary, funding may be added to the project to allow for more resources and overtime work in order to meet the schedule and scope constraints. Time and scope are fixed constraints and allow for no flexibility.

Sponsor Acceptance

Approved by the Project Sponsor:

Date:

Dr. VladimirAslanov, Project Sponsor

General Manager, Russian Multicultural Learning Center