Risk Management Plan for Shell Global: Analysis and Strategies

This report provides a risk management plan for Shell Global, analyzing various risks the company faces. It begins with a risk register, detailing specific risks such as political instability, geological challenges, price fluctuations, resource scarcity, and surging demand. The report then presents a risk matrix, assessing the probability and impact of each risk. For each identified risk, the report outlines risk triggers, categories, owners, and potential responses, including avoidance, mitigation, acceptance, and exploitation strategies. Furthermore, it details the expected impact of each response and the overall probability multiplied by impact (PI score) to provide a comprehensive overview of the risk management process. The plan aims to help Shell Global proactively manage potential issues, ensuring the successful execution of projects and the stability of its operations.

Running head: RISK MANAGEMENT PLAN
Risk Management Plan
Name of the Student:
Student ID:
Name of the University:
Author’s note:

1RISK MANAGEMENT PLAN
Table of Contents
Risk Register for Shell Global.........................................................................................................2
Risk Matrix for Shell Global...........................................................................................................2

2RISK MANAGEMENT PLAN
Risk Register for Shell Global
Risk
ID Description Risk
Owner Risk Trigger Risk Category Probability
(1-3) Impact (1-3) PI Score Expected Result, No
Action
Risk
Response
Type
Response Trigger Response
Owner
Response
Description
Expected Impact
of Response
Description of the risk
Name of
person who
monitors
the risk
How you know the risk is
becoming an issue or has
reached a point that requires
action.
Group defines
the types of
risks
(technology,
financial,
staffing, etc.)
Group
sourced
rough
estimate of
how likely
this is to
occur
Group sourced
rough estimate
of how
significant the
impact of this
risk will be
if/when it
becomes an
issue
Probability
multiplied
by Impact
What will happen if
the risk becomes an
issue and no action is
taken
Decision
made by
group on
how to
respond to
this risk (see
above in
blue)
How do you know
it is time to put the
response into play
Who is
responsible
for initiating
the response
What is the
response
What do you
expect will result
from the
response
RF-
000201
Political Risk is a major factor
that has resulted in forming the
major alignment issues for the
Shell Global. The political
risks will cause an increase
when the oil as well as gas
industry is working on deposits
aboard. The government
policies and the actions like
inflation have largely impacted
on the development of the
successive project execution.
Company's
Owner
Government Decisions and
Change of Policy would mark
the complete transformation of
the risk into the issues for Shell
Global. The issues have been
formed for impacting the
alignment with the successful
implication management. The
implying of the successive
operations would be delayed
due to the occurrence of the
risk factor.
Government 2 2 4
All activities of the
Shell Global would be
halted by the
Government resulting
in marking the
operational issues for
the organization. The
avoidance would lead to
severe impact on the
occurrence of the
operations.
Avoid
Generation of
conflicts with the
policies would mark
the possibility that
the project might not
turn out to be as
expected. It would
provide signal that
we would have to
take necessary steps
from now on.
Company's
Owner
Alignment with
the policies of the
Government
Improved
Functional
Operation
Development
along with
mitigation of the
political risk
RF-
000202
Geological Risks are referred
to difficulty of the extraction
along with possibility that
accessible reserves. It is hard
for the industry to minimize
this risk by testing. It is caused
due to unconventional oil and
extraction methods that help to
squeeze with the resources.
Engineer
It is caused due to
unconventional oil and
extraction methods that help to
squeeze with the resources. It
would mark the complete
transformation of the risk into
the issues for Shell Global. The
issues have been formed for
impacting the alignment with
the successful implication
management. The implying of
the successive operations
would be delayed due to the
occurrence of the risk factor.
Technical 2 3 6
Delay in completion of
the projects of Shell
resulting in marking the
operational issues for
the organization. The
avoidance would lead to
severe impact on the
occurrence of the
operations.
Mitigate
Unable to complete
the ground works
would mark the
possibility that the
project might not
turn out to be as
expected. It would
provide signal that
we would have to
take necessary steps
from now on.
Engineer
Contingency
Planning for
dealing with the
geological risk
factors
Improved
Excavation
Activities along
with mitigation of
the geological
risk
RF-
000203
Price Risk decides whether the
reserve is economically
feasible. There are sometimes
an unconventional extraction
costs that is more than vertical
drill down to the deposits
Economist
Higher there are geological
barriers to extract; there is an
increase of price risks. It would
mark the complete
transformation of the risk into
the issues for Shell Global. The
issues have been formed for
impacting the alignment with
the successful implication
management. The implying of
the successive operations
would be delayed due to the
occurrence of the risk factor.
Financial 1 3 3
Loss to the Shell Global
due to the price
inflation resulting in
marking the operational
issues for the
organization. The
avoidance would lead to
severe impact on the
occurrence of the
operations.
Accept
Probable Economic
Loss to Shell Global
would mark the
possibility that the
project might not
turn out to be as
expected. It would
provide signal that
we would have to
take necessary steps
from now on.
Economist
Finance
Management for
the project
activities
Price
Management for
dealing with
incurred losses
along with
mitigation of the
financial risk
RF-
000204
Resource Challenges are the
risk that is resulted due to the
lack of the resources and the
probable issues in formation of
the effective operations.
Resource
Manager
Shortage of Resources would
result in this risk. It would
mark the complete
transformation of the risk into
the issues for Shell Global. The
issues have been formed for
impacting the alignment with
the successful implication
management. The implying of
the successive operations
would be delayed due to the
occurrence of the risk factor.
Procurement 1 2 2
Lack of resources
would result in forming
major problem in
executing the
operations resulting in
marking the operational
issues for the
organization. The
avoidance would lead to
severe impact on the
occurrence of the
operations.
Share
No Resource left for
the operations would
mark the possibility
that the project
might not turn out to
be as expected. It
would provide signal
that we would have
to take necessary
steps from now on.
Resource
Manager
Alignment of the
successive
management
operations
Effective
Resource
Management
would be implied
along with
mitigation of the
financial risk
RF-
000205
Surging Demand is an
opportunity that can be used
for increasing the revenues.
However, it results in forming
major issues in aligning the
successful development of the
operations due to the high
requirement factor. The market
opportunity of Shell Global is
that the organization is
developing energy sources
from renewable towards the
fossil fuels.
Marketing
Head
Growth of demands by the
customer that cannot be
fulfilled by the company. It
would mark the complete
transformation of the risk into
the issues for Shell Global. The
issues have been formed for
impacting the alignment with
the successful implication
management. The implying of
the successive operations
would be delayed due to the
occurrence of the risk factor.
Operation 3 1 3
Issues in demands
would result in causing
loss to Shell Global
resulting in marking the
operational issues for
the organization. The
avoidance would lead to
severe impact on the
occurrence of the
operations.
Exploit
Unable to meet the
demands of the
customer would
mark the possibility
that the project
might not turn out to
be as expected. It
would provide signal
that we would have
to take necessary
steps from now on.
Marketing
Head
Surrogate
Planning for
accommodating
and providing
training to
workers
Customer generic
information
management for
making sure that
they get the
services from the
organization

3RISK MANAGEMENT PLAN
Risk Matrix for Shell Global
Impact
Probability
1 2 3
1 Resource Challenges Price Risk
2 Political Risk Geological Risks
3 Surging Demand