Appropriate Risk Responses

Flowers Co., Ltd. In order to reduce the possibility of damage to the company, it is necessary to develop appropriate risk countermeasures for these risks. Risk 1: Damage to Eastern Cost Center Call center If a natural disaster hits a call center causing damage, it can have a serious impact on the company. Unfortunately, natural disasters often occur and there is no way to stop them. That is why we need to make plans to alleviate the damage to the Flowers Company. This risk affects two areas: physical assets and human assets.

The risk management process consists of four main steps: identifying potential project risks, analyzing those risks, selecting the appropriate risk response, and monitoring the project. There are two ways to analyze risks. It is quantitative and qualitative. Qualitative risk analysis is the process of evaluating the risk characteristics of a single project - the likelihood of occurrence and its impact on the project (if occurred). The size of the analysis group is classified into three or more categories such as low, medium, and high based on the influence degree. Risks can affect many project elements such as budget, schedule, deliverables, scope, available resources etc. The risk probability can be evaluated as either percentage (0% to 100%) or odds (0 to 1), using the same category. You can customize scales to suit your organization's needs and use that scale in all projects within your organization to maintain consistency.

Once the risks are identified through the risk assessment phase, appropriate actions to provide a consistent response of the risk within the identified risk timeframe are (I) an alternative action plan to address the risks and II) Identify through an alternative action plan for assessment Identify appropriate action plans that meet the established level of risk tolerance, and (IV) implement risk response measures based on the selected action plan (Ie, phase mitigation or case-dependent combination of risk mitigation measures, evasion or relocation)