Develop a risk matrix, using the Risk Matrix template linked in the Resources. Identify each risk....

Develop a risk matrix, using the Risk Matrix template linked in the Resources. Identify each risk. Determine the probability and importance of each risk. Determine how to respond to the risk. Prepare an action plan and assign the person responsible for the risk.

Expert Solution

The following matrix shown above can be used as a matrix to evaluate the risk and thereby take preventive actions and other countermeasures to reduce the risk.

Depending on the probability of occurrence of a certain event and its impact different scenarios can be put into different buckets as shown in the figure.

In the matrix first, the probability of occurrence of an event must be evaluated and then those activities which are highly impacted by the occurrence of an event must be listed and must be prioritized. Depending on the output of the risk assessment a POC(Point of Contact) must be determined to be contacted in case of any exigencies and the steps to be taken thereof should be documented.

The " Extreme Risk" events should be assigned to the higher management for formulating mitigation measures and for addressing them in a timely manner.

Moderate to HIgh Risk can be taken care by the people in the level of Sr.Manager or Manager with the help of proper inputs from the team members.

Low and Minimum Risk can be taken care of the employees at their individual level which can be done through proper awareness and communication.

keosha answered 1 year ago

In this Project, you will create a risk template, develop risk responses to effectively assess the risks associated with the ADC project.

In this Project, you will create a risk template, develop risk responses to effectively assess the risks associated with the ADC project.Individual Portion: Part 1Create a sample risk template by listing the risks that you think are appropriate for ADC.You may need to make assumptions about the project. Just be sure to document them in the description of the risk.When identifying your risks, be sure to consider the following:Project and product risksExternal and internal risksProject budget risksScheduling risksResource risksProduct quality...

Risk Assessment Homework In this assignment, you will perform a qualitative risk assessment, using a template...

Risk Assessment Homework In this assignment, you will perform a qualitative risk assessment, using a template that has been provided below. A listing of threats has been prepopulated for you. These threats have been categorized by type as shown below: Threat Origination Category Type Identifier Threats launched purposefully P Threats created by unintentional human or machine errors U Threats caused by environmental agents or disruptions E Purposeful threats are launched by threat actors for a variety of reasons...

Develop a BCG Matrix for Southwest Airlines using BCG Matrix, Stars II, Question Mark I, Cash...

Develop a BCG Matrix for Southwest Airlines using BCG Matrix, Stars II, Question Mark I, Cash Cow III, and Dogs IV for SOUTHWEST AIRLINES

1. Using the audit risk model, identify the relationship between the following elements. For each of...

1. Using the audit risk model, identify the relationship between the following elements. For each of the items below, highlight whether the two elements have an inverse relationship, a direct relationship, or no relationship. When considering each item, assume that the other components of the risk model remain constant. Engagement Risk and Acceptable Audit Risk Assessed Inherent Risk and Planned Detection Risk Materiality and Amount of substantive evidence needed Assessed Inherent Risk and Assessed Control Risk Acceptable Audit Risk and...

Using resources or other Internet resources, identify a recent ethics scandal. Discuss the conditions that gave...

Using resources or other Internet resources, identify a recent ethics scandal. Discuss the conditions that gave rise to unethical business strategies and behavior. Provide an overview of the costs resulting from the company's business ethics failure.

Let us consider strategic risk. Look at the matrix and identify the two parameters that determine...

Let us consider strategic risk. Look at the matrix and identify the two parameters that determine strategic risk. These two parameters are about the threat of opportunistic behavior from third-parties from which a company sources services. They do not necessarily distinguish between offshore and onshore providers. This observation leads us to a question: Now think of the measures that a company can adopt to mitigate strategic risk. Are some of those measures weakened by (or are costlier to implement) in...

In a diversified company you must allocate your resources efficiently and effectively. Using the BCG matrix...

In a diversified company you must allocate your resources efficiently and effectively. Using the BCG matrix explain how you identify different planning units, how you classify them for resource allocation and what you plan to do with each unit based on where it is on the chart. Also give at least one error or limitation of this system (hint S, C, Q, D).

implementing linked list using c++ Develop an algorithm to implement an employee list with employee ID,...

implementing linked list using c++ Develop an algorithm to implement an employee list with employee ID, name, designation and department using linked list and perform the following operations on the list. Add employee details based on department Remove employee details based on ID if found, otherwise display appropriate message Display employee details Count the number of employees in each department

Read the case linked in the assignments below carefully and identify the problem. Using FASB codification...

Read the case linked in the assignments below carefully and identify the problem. Using FASB codification answer the problem correctly. (As followed) - Problem identification: Keywords: Conclusion: Case Solution: Case: In order to help induce Jill Gregory to remain as president of the Reed Company, in 2000 it promises to pay her (or her estate) $200,000 per year for the next 15 years—even if she leaves the company or dies. Reed wants to properly record this transaction as deferred compensation,...

what is the swot matrix for Human Resources Team Work?

Question