Mahindra TUV 300: Risk Management Case Study

This case study examines the risk management practices implemented by Mahindra & Mahindra Ltd. in response to technical and functional issues faced with their new product, the Mahindra TUV 300. The company utilized the AS/NZS ISO 31000:2009 guidelines to develop a comprehensive risk mitigation plan, addressing warranty concerns, financial implications, and operational risks. The study explores various documents used in the risk management process, including financial details, warranty coupon files, and company risk management guidelines. It concludes by emphasizing the importance of effective risk management for improving product quality, customer satisfaction, and the overall image of the company.

ENGINEERING

Answer 1
Deployment of the modern technologies need more objectively informed decisions and to
attain this, risk assessment is vital. This application helps in describing the overall hazards and
ways to resolve them (Modarres, Kaminskiy and Krivtsov, 2016). This categorisation is
performed before the introduction of new products. The process of defining and examining
potential dangers in order to achieve objectives is known as risk analysis. Moreover, risk analysis
is undoubtedly a significant component of engineering and technological systems, safety
management and thus, management of challenges. However, it may be recognised that the
assessment of engineering and technological risks requires a complete knowledge of qualitative
and quantitative techniques of risk analysis. Further, it is necessary to have the calibre of
applying these methods correctly to the real applications. In addition to this, the assessment of
risks needs ability to communicate well with the different people associated with the engineering
and technology. This knowledge is crucial in increasing correlation of organisation with their
customers, business partners and outsourced operations. Risk analysis renders a platform for the
evaluation of issues and decisions about their control.
I believe that the knowledge of qualitative and quantitative approaches in the risk
analysis is a major skill that is required while assessing the engineering and technological issues.
The use of these tools will provide the accurate data along with some predictions. Thus, working
on the predictions the challenges can be assessed. Further, I think the most crucial skill is the
ability to apply these methods in the real applications. If in case the implementation will not be
proper then it will affect the overall analysation. Consequent to this, the effectiveness of the
product will be altered. In addition to this, it is necessary to communicate with all the people
linked with the system such as customers, business partners, every department of the
organisation, engineering and technological team. This interaction will assist in gathering all the
risks that may have happen according to them so that the manufacturing can be done in a
trenchant manner.
The overall process of risk analysis can be segregated into three categories which are as
follows: Hazard Identification: This is the first stage of the process. In this phase, the hazards
associated with the engineering and technological application are identified with the help

of relevant techniques. The sources of the risks are accessed so that further planning can
be done. In addition to this, different circumstances are imagined and then the breaches of
safety are identified in this stage. Some common tactics for accomplishing this activity
involves observation, judgement, use of checklist, etc. Hazard Analysis: This is the stage where the identified hazards are analysed by drawing
the likelihood and consequence so that the risk linked with them can be estimated. This is
the most crucial phase of risk assessment as it calculates the information used for the
evaluation. All the basics of further processing are generated through this phase
(Ericson, 2015). .
 Risk Assessment or Evaluation: This is the final phase of the process in which the
identified and analysed hazards are evaluated. The outcomes obtained from the above
two steps of the method are classified to calculate the tolerability of risk.
As per the views of Carroll and et. al., (2017), qualitative and quantitative are the two
fundamental methods for examining risks in a system. The quantitative approach assists in the
calculation of challenges with the application of numerical measures. These methods provide
Illustration 1: Risk Assessment process
Source: Watts, & Hall Jr, 2016

more accurate image of risks. In this process, the value of the system is expressed numerically
and the threat of frequency is determined by occurrenceof the incidents. Some common
examples of this approach are annual expected loss reports of the entities, use of Courtney's and
Fisher's Model, etc. Besides this, the qualitative technique of risk analysation is not based on
numerical data rather is provides outcomes in the form of suggestions, descriptions, etc. With the
help of this tool, the risks associated with the value, susceptibility of threat and finding of
qualitative scale can be achieve. In addition to this, the description covers the predictions of the
main faults that may enter the system. Further, these methods put the risk according to the
priority. This prioritisation is also known as risk matrix that is plotted between two variable
which are probability and severity of the issue.
Illustration 2:Risk Matrix
Source: Ericson, 2015

Depending upon the occurrence and seriousness of the issues, they are categorised in the
different groups. Further, a risk rating table is present that explains the severity of various risks
depending on the basis of its probability of occurrence. Hence, the place of risk in these groups
will help in development of preventive measures accordingly. It ensures the determination of
areas of greater risks in a short time. Thus, with the help of these two approaches a detailed
analysation of risks can be done in both theoretical and practical manner.
In contrary to this Watts Jr and Hall Jr (2016) , explained that the qualitative and
quantitative approach for analysing risks is not an appropriate method. It is ascertained that the
use of quantitative process depends upon scope and accuracy of measurement scale. Further, the
outcomes may not be precise and are sometimes even misleading. Besides this, the use of this
method for risk assessment is expensive and demands advanced tools. In context to the use of
qualitative approach, it is described that this tool does not provide determination of the
possibilities. Also, the outcomes gained from this method have general characters and
approximates.
According to Salkeld, (2016 ), it is necessary to possess the ability of applying relevant
skills to a real engineering and technological application. This knowledge will help in
appropriate mitigation of the risk. In case if a person lacks in the identification of risk then it is
so obvious that effective preventive measure will not be prepared. In order to obtain right
identification and analysation on the hazards, the transportation should render training programs
to the staff. The implementation of skills to a real engineering and technological application is
the basis of final product that will reach to the customers. Hence, it is necessary to ensure that
the associated person is having a calibre to apply the risk identification and analysation.
Illustration 3: Risk rating
Source: Ericson, 2015

However, Gongyu and et. al., (2016) expressed that this set of skills is developed with the
experience in the working sector. This knowledge cannot be generated in a limited period of time
and there is no dead-end of learning these skills. Further, the understanding of application of
these skills can be achieved from the past situations. Thus, it is trenchant if a record of various
risks and tactics used to resolve those issues is maintained.
In addition to this, Dindar, Kaewunruen and An, (2016) explained that it is also necessary
to communicate risk status throughout the project so that immediate actions can be taken to
resolve the issues'. The communication is required to be maintained with all the stakeholders
who are linked with project. For instance: the interactions with the business partners will help in
identifying risks associated with productivity and profitability of the project. Besides this,
communication with the managers will assist in identification of the challenges linked with the
employees and their performances which are barrier in project. In addition to this, questionnaires
and feedbacks can be taken from the customers. These methods will provide information about
risks from a large group which is useful in increasing the probability of success of the work
undertaken. In contrary to this, Modarres, Kaminskiy, & Krivtsov (2016),stated that the more
use of communication tool with all the stakeholders will increase the time consumption and thus,
cost-effectiveness of the technical product will altered. Further, the gathering of perspectives of
all the stakeholders is complex task and difficult to achieve. It will moreover diverts the
concentration of undertaker from the original tasks that are to be performed.
CONCLUSION
From the present report, it may be concluded that the risk analysis is the most crucial skill
that is required when assessing the engineering and technological applications. The various steps
of risk assessment are explained which assist in effective development of technical systems. The
Significance of the qualitative and quantitative approaches in analysing hazards are studied. This
tool will help in designing of a full-proof plan covering all the issues related to the specific
project and methods to resolve them. Further, the importance of application of these skills is
explained in the present study. Also, the significance of maintaining a high level of
communication while performing risk assessment of the service is described. This is done to
explore the perspectives on risk of different stakeholders so that the measures can be applied
correctly.

REFERENCES
Books and Journals
Carroll, D. & et. al., (2017). A Quantitative Risk-Benefit Analysis of Prophylactic Surgery Prior
to Extended-Duration Spaceflight.
Dindar, S., Kaewunruen, S., & An, M. (2016). Identification of appropriate risk analysis
techniques for railway turnout systems. Journal of Risk Research, 1-22.
Ericson, C. A. (2015). Hazard analysis techniques for system safety. John Wiley & Sons.
Gongyu, H., Rong, L., Cong, J., & Xin, L. (2016). Risk Analysis and Evaluation of Long Slope
Mining Construction by TBM Techniques. Chinese Journal of Underground Space and
Engineering. 3. 038.
Modarres, M., Kaminskiy, M. P., & Krivtsov, V. (2016). Reliability engineering and risk
analysis: a practical guide. CRC press.
Modarres, M., Kaminskiy, M. P., & Krivtsov, V. (2016). Reliability engineering and risk
analysis: a practical guide. CRC press.
Salkeld, D. (2016). Project Risk Analysis: Techniques for Forecasting Funding Requirements,
Costs and Timescales. CRC Press.
Watts Jr, J. M., & Hall Jr, J. R. (2016). Introduction to fire risk analysis. In SFPE Handbook of
Fire Protection Engineering (pp. 2817-2826). Springer New York.

Risk management proposal
for launch of the
Mahindra TUV 500 by
increased in engine,
suspension and design.

TABLE OF CONTENTS
ORGANISATIONAL PROFILE.....................................................................................................1
BUSINESS CASE...........................................................................................................................3
INCORPORATION OF RISK MANAGEMENT ARCHITECTURE ..........................................3
ANALYSIS OF RISK.....................................................................................................................4
EVALUATION OF RISK...............................................................................................................5
MANAGEMENT OF RISK ...........................................................................................................8
LIST OF RISK MANAGEMENT DOCUMENTS ......................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

ORGANISATIONAL PROFILE
Company Name: Mahindra & Mahindra Ltd.
Introduction: It is an Indian public multinational auto and truck manufacturing firm which was
founded in the year 1945 in Ludhiana. In India it is the largest vehicle manufacturing company
having more than 2 lakh employees and revenue of $17.8 Billion. It is ranked as the 17th in the
Fortune list of India. As per the Forbes report, the company ranked under top 100 reputable
companies. There are many business ventures under the company but they mainly focus on the
Automotive business. The company is heading forward through the sustainable development and
socially responsible groups making their presence in each sectors (Mahindra.com: Rise 2017,
2017).
History: It is the India's leading SUV manufacturer and has achieved its growth from
acquisitions. There are various areas where company diversified such as after-market,
automotive components, clean energy, financial services, hospitality, IT, logistics, retail, real
estate, and many more. The firm was started in the year 1945, and has expended to more than
100 countries. They want to use the technology is every field so that sustainable development
can be made in the company (Mahindra.com: Rise 2017, 2017).
Business Sectors: The organization has different well organized sectors that lies under the
Mahindra & Mahindra Ltd. They have 18 key industries that are spanning around the world.
These are aerospace, after-market, agribusiness, automotive, components, construction-
equipment, consulting-services, defence, energy, farm-equipment, finance & insurance,
industrial-equipment, information-technology, leisure & hospitality, logistics, real-estate, retails
and two wheelers. The Aerospace, automotive, defence, IT and two wheelers are technological
based companies that focus on the innovation and new techniques. Moreover , the manufacturing
and sales depends is top sources of revenue collection for the company. Components,consulting-
services, finance & insurance, leisure & hospitality, logistics, real-estate, retails are the service
industry that offers various services to the people. In the finance and insurance sector they have
more than 5 million customers availing the services. The SUV, tractor and Jeeps made by the
company are the world famous. Other remaining equipment companies are for the development
of the new things (Mahindra.com: Rise 2017, 2017).

Products & services: The company is expended in more than 100 countries. As per the company
details the IT, finance and insurance, automotive are the key areas where the company is making
progress. In the automotive spectrum there are aircraft, commercial vehicles, power boats, SUVs,
MPVs to sedans, two-wheelers, three-wheelers and tractors. It is expended in different countries such
as Asia, Africa, Europe, America and offers different products as per the business sectors. The
defence vehicle are directly provided to the Indian government.
Core Values: The entire group is governed by the core values that lies within them. The are the
merger of what they were, what they are and what they wanted to achieve. Their values lies in
the two areas where they need to make the action, these are the personal and corporate. Under
this following the core values of the company; Customer first: The progress and prosperous
achieved by the company are provided by the customers. The firm will respond to all the
modification, needs and expectation of them. All these things will be accomplished in speedy,
courteous and effective manner. Dignity of the individual: The company will value the
individual dignity and will follow the righteous path. The transparency will be maintained in the
firm through the fairness, trust and actions. Good Corporate Citizenship: The organization will
achieve the long-term success by serving the community and in proper align ways. At every
point the sustainability, corporate social responsibility and ethical values will never be broken.
Professionalism: Equal opportunities are provided to the people in the entity. Their freedom and
opportunities will be maintained through the innovation and other methods but the performance
is required by the company. Quality focus: For the customer money the company is providing
the quality in the work, product, service and interactions (Mahindra.com: Rise 2017, 2017)..
Awards & Recognition: The company has achieved many awards in the different fields it is
operating. As per the Forbes list it is recognized as the top 2000 most powerful companies.
Boldness of Business's Awards, in 2013 for the category of the emerging market, Auto Build
India Golden Steering Wheel for Technology, Scooter of the Year by NDTV. Further, they are
awarded for the sustainability groups and other technological construction. Along with this, they
have been awarded as the best transport excellence award by the Indian Road Transport. In the
Engineering & Automotive categories it has achieved Best Companies to Work award. It is also
recognized as Best Company for CSR by the Economic Times in India (Mahindra.com: Rise
2017, 2017)..
2

Future Aspiration: The company has focused on the 5 areas where they are making
development. These are clean, convenience, connected, clever and cost-effective products and
solutions. In the automotive industries they are trying to develop the electric vehicle. They are
also focusing on the automatic vehicles so that driving can be easy. They are launching their new
products Mahindra TUV 500 which is the advance version of Mahindra TUV 300
(Mahindra.com: Rise 2017, 2017)..
BUSINESS CASE
Title: The launch of Mahindra TUV 500 with high bouncy, bigger engine, power, peak torque
and reduced heating effect.
Brief Summary: The definition of the risk management based on the AS/NZS ISO 31000:2009
is ‘co-ordinated acts to make straightforward and functional control of an entity in consideration
with the risk’. The proposal was made so that the issues, opportunities and risks associated with
the Mahindra TUV 300 can be identified, modified and can be implemented in the Mahindra
TUV 500. The product was successful in the Indian market but there was truck like sound, AMT
warning light flashing continuously and there was issues with the suspension in the SUV which
was making problem when being on the bad roads and speed breakers. AMT warning light
flashing and voice from the engine was experienced by the customers. Due to this, they were
very much affected.
Project Team: The action will be taken by the service engineers as due to their faults the issues
got to such height. A team of 15 members will be looking for the new design, suspension and
AMT warning light flashing, 4 members from the sales team of the TUV 300, 5 from the
product development team and head of the department, that is the senior managers. Other than
this, there will be business development team, finance team and service engineers. 2 test drivers
will be there that will be accessing the TUV 500 on different roads and breakers.
INCORPORATION OF RISK MANAGEMENT ARCHITECTURE:
Identification of risks: (ENG 8103 Management of Technological Risk: Study module 2, 2016)
1. Safety risk: The suspension can cause human injury, and the AMT warning light flashing
can provide the negative warning which can cause the accidents.
2. Legal risk: There is lack in the industrial standards, they lack in the machinery design
and have not abided the government rules for manufacturing the SUV.
3

3. Market risk: Damage to the brand image, market-share, investment, customer
satisfaction and various other issues.
4. Operational risk: There was the defect in the suspension part which means that
engineers have not considered the vehicle suspension system, due to issues in the engine
there was huge noise that means there was manufacturing defeats and the quality was not
maintained.
5. Reputation-al risk: Loss of trader’s as-well-as customer’s confidence. As the company
is reputed and people highly rely on their products so there will be high reputation
problems.
6. Technical risk: The low performance of the engine, suspension and material used can be
easily seen.
7. Strategic risk: Introduction of new assurance policy, technical specification and new
service scheme
8. Financial risk: There will be loss in the firms profit level along with trader's profit.
ANALYSIS OF RISK:
(ENG 8103 Management of Technological Risk: Study module 3, 2016)
Types of Risk Likelihood of
Risk
Consequence of
roads
Risk Ranking
Safety risk 7
 Suspension can cause human injury High Very High
 AMT warning light flashing can
provide the negative warning leading
to accidents.
Low High
Legal risk: 6
 There is lack in the industrial
standards
Medium Low
 They lack in the machinery design
standards
Very High Very high
4

 Not abided the government rules for
manufacturing the SUV.
Very high Very high
Market risk: 8
 Damage to the brand image Very High Very High
 Market-share and investment Very High Very High
 Customer satisfaction and various
other issues.
Medium Very High
Operational risk: 7
 Manufacturing default Medium High
 Technical default Very high High
Reputation-al risk: 7
 Loss of trader’s confidence High High
 Loss of customer’s confidence Very High Very High
Technical risk: 9
 Low performance due to engine Very high Very High
 Low performance due to Suspension Very high Very High
Strategic risk: 6
 Introduction of new assurance policy Medium Very High
 Introduction of technical specification Medium Low
 New service scheme Medium Medium
Financial risk:
6
 Loss of company profit Very High Very High
 Loss of trader’s profit High Medium
EVALUATION OF RISK:
(ENG 8103 Management of Technological Risk: Study module 5, 2016)
1. Safety risk:
5

 Suspension can cause human injury: In the old model of the Mahindra TUV 300, there is
suspension defeat which is even recognized by the service engineers of the company. If
this is not replaced or changed then there can be physical or internal injury to the driver.
It will affect the vehicle and the person. As the driver will be driving on the uneven roads
and at breakers so the risk is intolerable as it can cause the serious injuries, for this
mechanical design and other changes in the material structure can be taken to minimize
it.
 AMT warning light flashing can provide the negative warning leading to accidents: AMT
Warning LED shown in this dashboard was coming again and again. The SUV was going
neutral which will cause the problem to the driver as they will not be able to control. The
users have temporarily handle it by switching off the engine for a while and turning it on
again. It is another engineering defeats that occurred in the Mahindra TUV 300. Only
service engineers or repair person can resolve these issues.
2. Legal risk:
 There is lack in the industrial standards: There was issues in the engine of the Mahindra
TUV 300, due to which the internal system of it was getting hotter. This was causing the
truck like sound and can distract the driver. However, the risk is not that much serious so
can be tolerated and necessary measures to eliminate it can be visiting the service
engineer.
 They lack in the machinery design standards: The shock absorber was not functioning as
it needs to function. Due to defect in the mechanical design the issues can cause internal
damage to the body of the driver. It is the serious issues and needed to be overviewed.
Other material shocker can be used as a preventive measure to prevent it.
 Not abided the government rules for manufacturing the SUV: There is need replacement
of the old model with the new one as the mentioned above case can harm the driver
which can cause the serious accidents. All this issues violate the government regulation
of a safe manufacture of the machine. There should be banned on the commodity, that
will the again harm the brand image and profit level of the company. Therefore, it is not
tolerable and to eliminate this necessary measures are required to be taken.
3. Market risk:
6

 Damage to the brand image: As there are many defects overviewed and the possibility of
the low performance of the SUV 300, due to defect in the AMT warning light flashing,
Suspension, and the engine there will be higher damage to the company brand. There will
be loss to the company, market share and it will provide the advantage to the competitors
as they will have more sales. Therefore, this risk is highly irresistible and in tolerable.
Further, there is requirement of the suitable action to be taken so that it can be eradicated.
 Market-share and investment: There is huge investment cost required for manufacturing
and developing the product. Further, the brand promotion and other activities also require
cost. This will affect negatively to the brand and consequently to the sales of the product.
In order to eradicated the risk there is requirement of new product launch which have
minimal of the above issues.
 Customer satisfaction and various other issues: There will be great loss of market share,
confidence of the customers, investors and stakeholders of the company. All the above
issues will result in the negatively impact on the portfolio of the company.
4. Operational risk:
 Manufacturing default: There is high possibilities of the manufacture defects that were
identified such as in the engine, suspension and AMT. All this issues must be taken care
at the time of the manufacturing and the testing, now it will be loss to the company. The
problems created by the employer at the time of the production or manufacture cannot be
ignored completely and the possible changes must be made in the new Mahindra TUV 500.
 Technical default: Dimensions and specifications related to the industrial standards are not
maintained. Material quality standards has harm the performance of the suspension and
engine which has caused such issues. The material should be selected cautiously.
5. Reputation-al risk:
 Loss of trader’s confidence: Mahindra TUV 300 has affected the trust of the trader's as
the purchase the product based on the brand reputation and market image of the
company. There can be chances that traders might not promote the new model that is
TUV 500. This will ultimately harm sales, brand image, reputation of the company. It
will also affect the future trading of the products.
7

 Loss of customer’s confidence: Customers are considered as the main resource for the
company. Due to the defects the customers may shift to the competitors. Resulting in the
damage of brand and market shares of the company.
6. Technical risk:
 Low performance due to engine: Due to improper performance of the engine there is
noise coming out. It is distracting the driver. However, the loss is minimal and can be
neglected or ignored. It can also be repaired by the service person.
 Low performance due to Suspension: There is high risk due to suspension as it can cause
the physical and internal damage to the driver. Changing the material and dimensions
can improve the performance and can minimize this risk.
7. Strategic risk:
 Introduction of new assurance policy: There is need of new special warranty policy as
customers have lose their trust in the company. New Policy can help to gain the company
and brand image back. From this risk can be tolerated and serious steps can be taken so
that such issues does not rise.
 Development of new service scheme: As discussed above, there is harm to the
profitability of the company so new service scheme must be developed so that changes
can be overviewed and consequences can be reduced.
8. Financial risk:
 Loss of company profit: If the new model, that is the Mahindra TUV 300, does not
perform well in the market, the company will face huge loss of market share, and brand
image. It will greatly affect the profitability of the company. There will be no trust of the
customers. The new model of investment can help to contribute to the profit of the company.
 Loss of trader’s profit: The new Mahindra TUV 500 is at the cost of US$ 25000 so there
will be less profit margin for the traders. Moreover, the customers will never accept the
higher sales prices as they have faced lot of issues in the previous products. For this there
is requirement of special measures are needed to minimize it.
MANAGEMENT OF RISK:
(ENG 8103 Management of Technological Risk: Study module 5, 2016)
8

1. Safety risk management: In order to manage the risks associated with the suspension.
The human injuries can be prevented by putting some load on the rear side of the
Mahindra TUV 300. However, it may be recognised that this increase in the weight will
decrease the mileage of the vehicle. Thus, the engineering team should focus on
development of less bouncy suspensions. Besides this, the problem of AMT light can be
resolved by replacing it with a new one and by ensuring the proper internal connections
while service.
2. Legal risk management: The industrial standards can be maintained by following the
modular set by the local government. Further, it is necessary to obey all the regulations
set by the legal structure of the nation in which the entity is working. In addition to this, it
is necessary that the design of machinery should be well equipped with all the safety
measures to avoid any harm to the employees working in the organisation.
3. Market risk management: In order to recover from the damaged brand image, the entity
is required to develop a product that is proved to be perfect for the customers. This
development should fulfil all the needs and demands of the consumers who avail the
services. Also, effective marketing can help in managing this issue. Further, after selling
services should be up to the mark to achieve the customer satisfaction.
4. Operational risk management: In order to remove the operational risks, the industry
will have to make great efforts. This is the biggest hazard to any company. In order to
manage this, the development of Mahindra TUV 300 should be based on a proper plan.
An effective risk assessment is needed to recover the faults. Also, the manufacturing
team should have good understanding of the development of the product. The TUV
should be able to pass all the standards set for the technology and operation. The
manufacturing standards that are demanded to be abide by is ISO 9001. However, it may
be noted that this will increase the investment of the group. The budget may went up by
15% by performing these tests but the good quality of the product will be ensured without
any type of fault. The long-term benefits includes the trust and loyalty of customers and
traders.
5. Reputation-al risk management: Lack of trader's and customer's confidence with
Mahindra TUV 300 is a major issue that will impact upon the overall sales of the entity.
9

In order to prevent the reputation-al risks, Mahindra group is required to provide some
special incentives to the traders and offers to the customers.
6. Technical risk management: The technical issue of low performance can be enhanced
by some modifications in the engine functioning. For instance: the power of the engine
can be increased by altering piston size. The issue of suspension can be managed by
using monocoque and using counter parts of other sedans.
7. Strategic risk management: It has been observed that the assurance to the customers
from the produce and services are lacking which is impacting the other parameters. Thus,
a new assurance policy is required to be prepared. Further, the involvement of new
service scheme and technical specification will occupy some cost share. However, it may
be recognised that this little subtraction of money will bring high profitability by
increasing the sales of Mahindra TUV 300.
8. Financial risk management: In order to maintain the company profit, effective
marketing is required. It will help in increasing the sale of the product by creating a brand
image. Besides this, the trader's profit will also affect the financial condition so the
Mahindra TUV 300 should sold with various offers and discounts. This will help in
increasing the customers and thus, the increment in the profit of trader.
LIST OF RISK MANAGEMENT DOCUMENTS:
1. Risk log book: The company will provide the risk log book that will consist of all the
actions and efforts that are made the production units of the manufacturing areas. The the
risk overcome will be reviewed at the different times and should be maintained to that
supervision of the adopted method for reducing the risk management practise can be
overviewed. The service manager and his team will complete this task.
2. Risk response planning sheet: In order to maintain and prepare the risk response
planning sheet the product development as-well-as the sales team will monitor and
prepare it. The continuous improvement programs will be taken from them so that
possible applied risk management practises can be evaluated.
3. Financial mitigation Diary: There is huge cost required for the development of the new
products and for this purpose the financial details are necessary to maintained. The
finance, production and the service engineers will overview the new price required for the
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manufacturing of the new Mahindra TUV 500. The financial mitigation diary will be
maintained at the certain specific period of time.
4. Warranty Coupon file: As there was issues related to the warranty of the products and
customer’s were facing the problems related to it so the cases related to it will be
technically and performance will be evaluated. Further, the total expenditure on the
service and warranty of the Mahindra TUV 500 will be written in the file.
5. Company Risk management guidelines: Using the guidelines the company can prevent
the risk identified and can mitigate the issues that are generated in the management part
of the company. Further, it will help the company employees and other service engineers
to resolve the issues that in the future or while taking risk management decisions.
CONCLUSION
The given case study is about the Mahindra & Mahindra Ltd. where they have launched
their new product Mahindra TUV 300 which was having lot of technical and functional issues
for which effective risk management has been perpared for the benefit of the company. The new
product launched is based on the guidelines of the AS/NZS ISO 31000:2009. It will improve the
effectiveness and image of the company.
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REFERENCES
AS/NZS ISO 31000:2009 Risk Management – Principles And Guidelines, 2010. [PDF]. Available
through
<http://www.finance.gov.au/sites/default/files/COV_216905_Risk_Management_Fact_Sh
eet_FA3_23082010_0.pdf >. [Accessed on 3rd October 2017].
Mahindra.com: Rise 2017, 2017. [Online]. Available through <http://www.mahindra.com>.
[Accessed on 3rd October 2017].
Jüttner, U., Peck, H. and Christopher, M., 2003. Supply chain risk management: outlining an
agenda for future research. International Journal of Logistics: Research and Applications.
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