Risk Management for OSSE Business Management

This article discusses the risks associated with OSSE business management and provides a risk register and mitigation processes for economic risk, product and process risk, supplier's risk, customer risk, and program planning risks.

Running Head: RISK MANAGEMENT
RISK MANAGEMENT
Name of the Student
Name of the University
Author Note

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Table of Contents
Risks................................................................................................................................................3
Risk Register....................................................................................................................................5
Risk 1: Economic risk..................................................................................................................5
Risk 2: Product and process risk..................................................................................................5
Risk 3: Supplier’s risk.................................................................................................................5
Risk 4: Customer risk..................................................................................................................6
Risk 5: Program planning risks....................................................................................................6
Risk Matrix......................................................................................................................................6
Risk Mitigation processes................................................................................................................7
Risk 1: Economic risk..................................................................................................................7
Risk 2: Product and process risk..................................................................................................7
Risk 3: Supplier’s risk.................................................................................................................7
Risk 4: Customer risk..................................................................................................................8
Risk 5: Program planning risks....................................................................................................8
Reference.........................................................................................................................................9

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Risks
Risks that are present in commencing of the project will include these following risks: -
 Economic risk: Economic risks that are present in the course of project completion is
considered to be one of the most important risk that prevails. The main risk that is present
in the field of economic risk implements the facts regarding the aspect that the entire
organization will suffer from loss in case any of the institute suffers a huge loss in the
project completion (Bessis 2015). Again in case the products that are generated by the
organization fails to impress the clients, all the branches of the organization will suffer in
terms of revenue earning. This ensures the fact that there will be a huge loss in the
projection of the business management.
 Product and process risk: Product and processing risk management is considered to be
one of the main disadvantage that are present in the prosecution of the business
management. This ensures the fact that the commencement of the business execution gets
affected in a negative manner. This is due to the fact that the manufacturing of the
products that are done in the different branches of the OSSE ensures the fact that the
commencement of the products can be performed among the business authorities
(Glendon & Clarke 2015). This leads to the fact that the commencement of the project
will get affected in a negative manner. In case the processing of the product is not done in
a proper manner in any one branch of the business organization. In case this will affect
the commencement of the project will get affected in a negative manner. The fact that the
product requirement might get transformed in the manufacturing unit. This deformation
of the quality of the product will affect all the 26 branches of the business organization.

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 Supplier’s risk: Due to the fact that the commencement of the project is performed with
the help of the association of all the business will get affected. This is because the
suppliers are the solely responsible for the completion of the OSSE business management
and this is the main reason that the commencement of the project management of the
business organization can be performed with highest efficiency (Hopkin 2018). In case
the supplier does not provide much efficient project management process the entire
functioning of the business organization gets affected in a negative manner.
 Customer risk: Customer risk is also one of the main risk that is present in the course of
management of the project. The entire business is dependent on the commencing of the
customer satisfaction. In case the customers are not well satisfied with the products that
are manufactured by the OSSE. In case the clients of the business organization is not well
managed and the clients are not satisfied with the business prosecute of the OSSE, the
revenue that will be earned in the prosecution of the OSSE business management will
decrease in a very fast rate.
 Program planning risks: Program planning risk is one of the main reason that affects the
prosecution of the OSSE business management will get affected in a vast area. In case the
programming of the project is not efficient in nature the main problem that is faced in the
prosecution off the OSSE includes the fact that the commencement of the project will be
affected in a whole (Sadgrove 2016). This is one of the main reason that the
commencement of the entire business will get affected in a negative manner.

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Risk Register
Risk 1: Economic risk
Risk Description: Economic risks that are present in the course of project completion is
considered to be one of the most important risk that prevails. The main risk that is present in the
field of economic risk implements the facts regarding the aspect that the entire organization will
suffer from loss in case any of the institute suffers a huge loss in the project completion.
Risk probability: Low
Risk Impact: High
Responsible stakeholder: Budget Analyst
Risk 2: Product and process risk
Risk Description: Product and processing risk management is considered to be one of the main
disadvantage that are present in the prosecution of the business management
Risk probability: High
Risk Impact: Medium
Responsible stakeholder: Operation Manager
Risk 3: Supplier’s risk
Risk Description: Customer risk is also one of the main risk that is present in the course of
management of the project. The entire business is dependent on the commencing of the customer
satisfaction.
Risk probability: Medium
Risk Impact: Low

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Responsible stakeholder: Supply Manager
Risk 4: Customer risk
Risk Description: Customer risk is also one of the main risk that is present in the course of
management of the project
Risk probability: Low
Risk Impact: High
Responsible stakeholder: Marketing manager
Risk 5: Program planning risks
Risk Description: Program planning risk is one of the main reason that affects the prosecution of
the OSSE will get affected in a vast area.
Risk probability: Low
Risk Impact: High
Responsible stakeholder: Project planner

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Risk Matrix
Risk
Mitigation processes
Risk 1: Economic risk
Risk Mitigation Process: Proper planning of the budget initially before starting of the project
Stakeholder: Budget Analyst
Stakeholder Responsibility: Budget analyst can estimate the budget that is ti be initially invested
in order to gain the invested amount. In case this is done in a proper manner risk related to
Economic risk can be mitigated (Bessis 2015)
Risk 2: Product and process risk
Risk Mitigation Process: Checking the quality of the product
Impact
High Program
planning risks,
Customer risk
Medium Product and
process risk
Low Supplier’s risk Economic risk
Low Medium High
Probability

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Stakeholder: Operation Manager
Stakeholder Responsibility: Operation manager needs to compare the product with the reference
product in order to understand the quality of the products
Risk 3: Supplier’s risk
Risk Mitigation Process: Checking the supply line of the products
Stakeholder: Supply Manager
Stakeholder Responsibility: Supply manager needs to check and confirm the track through
which the products are to be supplied in a better OSSE business process (Lam, 2014)
Risk 4: Customer risk
Risk Mitigation Process: Checking the marketing strategies
Stakeholder: Marketing manager
Stakeholder Responsibility: Marketing manager must understand the audience of the project as
understanding the audience of the project will help in the better management of the product
manufacturing (Glendon & Clarke 2015)
Risk 5: Program planning risks
Risk Mitigation Process: Checking the planning process of the project
Stakeholder: Project planner
Stakeholder Responsibility: Project planner has the issue related to the project commencement
as the project completion requires proper planning as the data management of the project ca be
performed with the help of the Program planning (Choi, Chan & Yue 2017)

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Reference
Bessis, J. (2015). Risk management in banking. John Wiley & Sons.
Choi, T. M., Chan, H. K., & Yue, X. (2017). Recent development in big data analytics for
business operations and risk management. IEEE transactions on cybernetics, 47(1), 81-
92.
Glendon, A. I., & Clarke, S. (2015). Human safety and risk management: A psychological
perspective. Crc Press.
Hillson, D., & Murray-Webster, R. (2017). Understanding and managing risk attitude.
Routledge.
Hopkin, P. (2018). Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.
Lam, J. (2014). Enterprise risk management: from incentives to controls. John Wiley & Sons.
Sadgrove, K. (2016). The complete guide to business risk management. Routledge.