Risk Analysis at Corwin Corporation

Running head: RISK ANALYSIS AT CORWIN CORPORATION
Risk Analysis at Corwin Corporation
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1RISK ANALYSIS AT CORWIN CORPORATION
Table of Contents
1. Introduction............................................................................................................................2
2. Identification of risks and assessment of its impact...............................................................2
3. Risks associated with the case study......................................................................................4
3.1 Selection of the project and competencies of staff...........................................................4
3.2 Support of the management and the culture of the organization.....................................5
3.3 Issues in the communication between external and internal stakeholders.......................5
4. Risk Management Plan..........................................................................................................6
4.1 Introduction......................................................................................................................6
4.2 Risk categories.................................................................................................................6
4.2.1 Impact and probability table......................................................................................6
4.2.2 Impact and probability matrix...................................................................................6
4.2.3 Actions recommended for the mitigation of risks.....................................................7
4.2.4 Risk Register of the Corwin Corporation Case Study..............................................8
5. Risk Management and reporting............................................................................................9
5.1 Appropriate Response Strategies.....................................................................................9
5.2 Apprising Stakeholders....................................................................................................9
6. Conclusion............................................................................................................................10
References................................................................................................................................11

2RISK ANALYSIS AT CORWIN CORPORATION

3RISK ANALYSIS AT CORWIN CORPORATION
1. Introduction
The Corwin Corporation is an organization that deals with the manufacturing of the
rubber components that are of low cost as well as of high quality. The organization is said to
focus on the different hardware stores, their department stores as well as automotive part
distributors for selling their rubber products that are associated with the industry. The
organization’s reputation in the market was so good that it started to acquire projects from
different consultants. In this context, the Peters Company has offered a specialty product
assignment to Corwin Corporation that was further confirmed by Corwin Corporation. The
case study deals with the overall conversation between the representatives of the management
team of both the organizations in which the overall planning procedure is carried out (Lock,
2017). The peters company requires a proposal as well as acceptance of that proposal form
Corwin Corporation.
2. Identification of risks and assessment of its impact
After analysing the case study, mainly four issues are identified. These are stated as
follows:
Standard policy deviation: The organization of the Corwin Corporation has been identified
with an informal management of project standard that are used to assess the inquiries of the
special products (Hopkinson, 2017). Moreover, from the past evidences it was clear that the
organization had accepted many project before from the Peters Company based on the
follow-on contracts. However, in this case the organization was not capable of assessing the
various aspects of the Peters Project, which led to the disruption of the product line that
existed in the organization. The frequent changes in the field of the project manufacture as
well as in the matrix of testing led to the difficulty of the staff to effectively schedule the time
of the procedure of execution (Heagney, 2016).