Risk Management Of Kingston-Bryce Limited

Running head: RISK MANAGEMENT
Kingston-Bryce Limited
Name of the Student
Name of the University
Author’s Note

RISK MANAGEMENT
1
Risk mitigation plan
As the organization wants to move forward by undertaking acquisition of the
competitors, the organization faces a number of challenges which are highlighted in the below
table. As per the description of the challenges, proper mitigation strategies are implemented so
that the risks related with the project can be mitigated quite effectively. In addition to this, the
table also helps in showcasing the likelihood, impact, responsible person as well as the type of
response with which the project can be managed.
Ris
k Id
Risk Description Impact Likelihoo
d
Responsibl
e
Type of
response
Mitigation
1 Financial
risk
If the
budget that
is assigned
to the
project is
not properly
managed
then the
project
faces a
number of
financial
issues.
High High Financial
manager
Mitigatio
n
In order to
mitigate the
issue, it is
necessary
to utilize
budget
properly as
per the
initial
planning
for
avoiding
financial
challenges.

RISK MANAGEMENT
2
2 Project risk While
undertaking
acquisition
during the
progress of
the project,
if the work
of the
project is
not
managed as
per
planning
then it
generally
can cause a
lot of
challenges
due to
schedule
slippage
including
delay.
High High Project
planner
Resolve For
resolving
such issues,
the project
manager
needs to
keep track
on the
project
status for
knowing
whether the
project is
on track or
not. If the
project is
running
behind then
the
manager
needs to
take proper
action so