Project Risk Management 420 Week 6 - 1105 Words

xxxxxxx PROJ 420 (A)/Fall A 11 Executive Summary Week 6 Assignment Executive Summary Due to economic strains our company is under more pressure than ever to deliver value and cannot afford to compromise productivity and efficiency. Our goal is to reduce the total cost and maximize efficiency within our office. We are continually seeking to maintain and improve our productivity and effectiveness in order to keep us from downsizing any department. Our task forces are implementing different processes that can help us find the less expensive way to meet our goal. Below we will discuss the possible risks and the recommendations to mitigate or eliminate those potential risks. We identified several risks and have assessed them in†¦show more content†¦Risk #1: Deficiency of skills - Risk of improper training. Status: RED Owner: Assistant of Supervisor of Operations Recommendations / Actions: * Allocate funds to properly train all staff. Target completion: 12/15. Risk #2: Changes – Risk that fluctuation of employees might impact visibility of scope. Status: Red Owner: Supervisor of Operations Recommendations/Actions: * Plan for retirees and establish communication within the staff. Target completion 12/1. Risk #3: Funding - The lack of appropriate funds to train and educate staff. Status: Amber Owner: Director Recommendation/Actions: * Establishing allocations. Target completion 12/1. Risk #4: Lack of clarity - The lack of clear and concise goals and or confusion about the goal of the scope. Status: Amber Owner: Assistant Director Recommendation/Actions: * Obtain feedback from staff. Target completion 12/9. Risk | Risk Category | Probability | Impact | Risk Score | Risk Rank | Risk Response | Owner | Lack of knowledge on proper usage of equipment | Technical | 3 | 5 | 15 | 1 | Training staff on the proper way to utilize and maximize the usage of all equipment. | Asst of Sup of Operations | Employees retiring and fired might impact schedules | External | 3 | 5 | 15 | 2 | Better planning in order to incorporate the flow of personnel within the company. | Supervisor of Operations | Confusion about the goal and scope of project | Management | 2 | 5 | 10 | 3 |Show MoreRelatedProj 420 Coursework Guide Week 1 - 7696 Words   |  3 PagesPROJ 420 Coursework Guide Week 1 - 7 Purchase here http://devrycourse.com/proj-420-coursework-guide-week-1-7 Product Description (PROJ 420 Project Risk Management) PROJ 420 Week 1 Course Project Assignment; Project Topic Proposal and Outline PROJ 420 Week 1 Discussion 1 Why Should We Practice Risk Management PROJ 420 Week 1 Discussion 2 The ATOM Risk Management Process PROJ 420 Week 2 Course Project Assignment; Project Sizing and Stakeholder Analysis PROJ 420 Week 2 DiscussionRead MoreProj 420 Entire Course Project Risk Management Essay631 Words   |  3 Pageshomeworkproviders.com/shop/proj-420-entire-course/ PROJ 420 ENTIRE COURSE PROJECT RISK MANAGEMENT PROJ 420 (PROJECT RISK MANAGEMENT) COMPLETE WORK – DEVRY PROJ 420 Week 1 Course Project Assignment Project Topic Proposal and Outline PROJ 420 Week 1 Discussion 1 Why Should We Practice Risk Management PROJ 420 Week 1 Discussion 2 The ATOM Risk Management Process PROJ 420 Week 2 Course Project Assignment; Project Sizing and Stakeholder Analysis PROJ 420 Week 2 Discussion 1 The InitiationRead MoreTIG Welding Essay example1469 Words   |  6 Pageswelded joints in stainless steels are also the main subject of the senior project which will be submitted at the end of this year. 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