Risk Management Plan

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Clemson University *

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12

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Mechanical Engineering

Date

Feb 20, 2024

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docx

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3

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Name ______________________ Date____________ Risk Impact/Probability Chart Worksheet © Copyright Mind Tools Ltd , 2006-2015. Please feel free to copy this sheet for your own use and to share with friends, co-workers or team members, just as long as you do not change it in any way. ME12 Entrepreneurship II Summer 2020
Name ______________________ Date____________ Directions: To use the Risk Impact/Probability Chart, follow the steps listed below. 1. List all of the likely risks that your project faces. Make the list as comprehensive as possible. 2. Assess the probability of each risk occurring and assign it a rating. For example, you could use a scale of 1 to 10. Assign a score of 1 when a risk is extremely unlikely to occur and use a score of 10 when the risk is extremely likely to occur. 3. Estimate the impact on the project if the risk occurs. Again, do this for each and every risk on your list. Using your 1-10 scale, assign it a 1 for little impact and a 10 for a huge, catastrophic impact. 4. Map out the ratings on the Risk Impact/Probability Chart. 5. Develop a response to each risk, according to its position in the chart. Remember, risks in the bottom left corner can often be ignored, while those in the top right corner need a great deal of time and attention. 6. Read Risk Analysis and Risk Management for detailed strategies on developing a risk response plan. ME12 Entrepreneurship II Summer 2020
Name ______________________ Date____________ Risk Management Plan Rubric Criteria Not Demonstrated Below Expectations Met Expectations Above Expectations Score Potential risk Did not identify potential risks. Created a list of potential risks not relevant to the startup business. Created a list of potential risks associated with the startup business Created a list of potential risks associated with the startup business with supporting details.   0 8 14 20 Risks analysis and prioritization Did not analyze and prioritize risks. Analyzed some of the risks. Analyzed and prioritized all of the risks. Analyzed and prioritized all of the risks with supporting details.   0 8 14 20 Plan to mitigate or eliminate risk Did not include plan to mitigate or eliminate risk. Determined a plan to mitigate or eliminate some risks. Determined a plan to mitigate or eliminate each risk. Determined a plan to mitigate or eliminate each risk with supporting details.   0 8 14 20 Written risk managemen t report Did not complete a written risk managemen t report. Created a risk managemen t report with a list of risks. Created a risk management report with a list of risks by priority and the plan for that risk. Created a risk management report with a list of risks by priority and the plan for that risk with supporting details.   0 8 14 20 Presentation Did not present risk managemen t plan. Presented some type of risk managemen t plan. Presented a risk management process and plan. Presented a risk management process and plan with supporting details.   0 8 14 20 Score           ME12 Entrepreneurship II Summer 2020
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