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Risk Management of Yyc Canada

Autor:   •  December 22, 2018  •  Term Paper  •  1,632 Words (7 Pages)  •  68 Views

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Memorandum[pic 1]

Date:                 November 23, 2018

To:                     Members of the board of Distribution (Transportation)

From:                RM from Supply Chain Division, YYC- Calgary

Subject: Risk Management of YYC- Canada

Every project has risks, regardless of project size or complexity. Risks have negative or positive effects on at least one project objective (cost, time, scope, and quality). Unfortunately, known risks are often not communicated to all the impacted entities. Risk Management minimizes surprises that impede successful project delivery through effective communication and documentation of risk throughout the delivery process. Project delivery success can be increased by establishing and maintaining a risk management plan over the project lifecycle. This plan will serve to document identified risks and provide an analysis of the risk impact. The plan also serves as an active risk management tool that defines and tracks risk mitigation strategies and actions. It is the goal of YYC-Canada to intentionally manage risk on one level. Risk Management is the active management of the significant project risks identified through the risk analysis to minimize the impacts of threats and maximize the chances for opportunities.

Risk management is a scalable activity and should be commensurate with the size and complexity of the project under consideration. Simpler projects will have less chances of risk and can be managed by the Project Manager. Larger, more complex projects will require involvement from functional managers, Construction personnel, and possibly outside experts.

This memo is intended to provide guidance to manage the risk on Trip/Slip projects within the Distribution Centre in a two dimensional matrix using a qualitative rating of the likelihood of the event occurring and the scale of the possible consequences.

Attachment:

Table 1: Risk Treatment Schedule and Plan

[pic 2]

Risk Assessment & Solution                                                              MAMOON, Shamim

YYC- Canada

Table of Contents

Page#

  1. Risk Factors and Definition……………….…………………………….…………….............03
  2. 1.0 Risk Identification …………………………………………….……………………………04
  3. 2.0 Purpose of Risk…………………………………………………………………………….04
  4. 3.0 Risk Evaluation ………………………………………....………………………………....04
  5. 4.0 Risk Management Plan…………………………………………………...…………...05-07

  1. Definition
  2. Stakeholders in Risk Management Plan
  3. Risk Identification
  4. Assessing Potential Risk
  5. Evaluating and Treating Potential Risk

Risk

                   Company

Improvement Area

        ( Rating)

1

Operational

 

            YYC- Canada

       (Distribution Centre)

1

2

Financial

4

3

Strategic

2

4

Compliance

3

5

Reputational

5

  1. Operational Risk: The risk of direct or indirect loss or inability to provide core services, especially to stakeholders, resulting from inadequate or failed internal processes, people and systems or from external events.

Operational risks involve factors such as technical or equipment malfunctions and human error, lack of prioritization, management support or expertise. This comes from the design and implementation of measures and processes that support accountability and oversight, being able to attract talent with experience in transformation and change management.

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