Risk Assessment Template for NatureCare Products Expansion Plan

TASK 3
Risk Assessment Template

Table of Contents
TASK 3...................................................................................................................................................................................................................................................................................................................................................................................................................3
1. Risk Management Plan...................................................................................................................................................................................................................................................................................................................................................................................3
2. Sending Email to CEO regarding risk management plan...............................................................................................................................................................................................................................................................................................................................5
REFERENCES.......................................................................................................................................................................................................................................................................................................................................................................................................6

TASK 3
1. Risk Management Plan
Scope of assessment: Establish retail outlets in Brisbane, Sydney and Melbourne for higher growth
Critical success factors: 1. More competitiveness
2. Maximized product range
3. Increased market share
4. Eco-friendly suppliers
5. Staff
Internal & external stakeholders: NatureCare Products staff, distributors, suppliers and customers, government.
Risk Consequences Severity Rating Likelihood
Rating Treatment/control methods Person responsible Timelines Priority
rating Monitoring process
Disaster
Recovery Plan
Harm to
products High Likely
For treating this, gathering of data
regarding weather updates from
Australia’s Bureau of Meteorology will be
taken. This will help to mitigate risks as
stock can be shifted to safer places.
Production would be done on prior basis as
per the results received from department.
This will help to attain customer demand.
Operations Manager and
Top management
It will be completed
within 15 days. 2
Daily updates from
meteorology department.
Checklists made on
continuous basis for
assessing process.
Lack of Quality
Manpower
High turnover
of staff
Moderate Likely Keeping database of staff in effective
manner (Charter, Gray, Clark & Woolman,
2017). Moreover, offering referral
incentives to current employees. They will
be motivated to bring desirable candidates
and as a result, appropriate candidates will
be selected in a better manner. On the
CEO, Operations
Manager, Sales Manager
It will take 10 days to
complete the same.
1 Performance reviews will
be done. Along with it,
staff training and staff
surveys will be done so
that inefficiencies may be
removed. Moreover,
people will be hired