Analysis of Risk Management Plan for ATA's East Timor Solar Project

This report presents a risk management plan developed for ATA's East Timor Solar project, focusing on integrating effective risk analysis and assessment. It identifies key risk factors such as power issues, local supplier challenges, high exchange rates, and the absence of occupational health and safety standards. The report details the four steps of risk management planning: risk identification, risk evaluation, risk mitigation strategy, and risk mitigation strategy control. It explores strategies like partnering with a local organization to address cultural and language barriers, incorporating budget allowances for financial risks, and adopting East Timor's OH&S policies. The plan emphasizes the importance of monitoring and controlling project risks to ensure successful implementation and minimize potential impacts. The conclusion highlights the plan's role in ensuring project safety and compliance by using project risk management concepts and principles. The report references several academic sources to support its findings and recommendations.

Running head: RISK MANAGEMENT PLAN
Risk Management Plan
ATA’s East Timor Solar project
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Introduction
According to Liu, Meng and Fellows (2015), the risk management plan is developed for
integrating the effective risk analysis and assessment for the ATA’s East Timor Solar project.
The risk management plan developed would be helpful for the development of an effective plan
of operations for integrating the development of the risk management cycle for the ATA’s East
Timor Solar project. The following essay would highlight the various risks and their contingency
planning for the development of the effective risk management plan. The essay would evaluate
the various risks of ATA’s East Timor Solar project and imply some strategies for minimizing
the project plan.
Risk Management Plan for ATA’s East Timor Solar Project
The risk management planning is done for realizing the various factors of risk for the
ATA’s East Timor Solar project. The risk management planning consists of four steps namely
risk identification, risk evaluation, risk mitigation strategy, and risk mitigation strategy control
(Teller, Kock & Gemünden, 2014). The risk management planning would help the analysis of
the probable risk factors for the ATA’s East Timor Solar project and develop some crucial
strategies for reducing the possible actions of the project. The risk management plan would
ensure that project would be completed successfully by ensuring that overall structure of the
project is done comprehensively. The risk management planning is carried on by the deployment
of the effective and improved planning and mitigation of the project development (Galliers, &
Leidner, 2014). The development of the risk management plan would be carried on by analysis
of the risk and identifying them. The risk identification for the project of ATA’s East Timor
Solar project would be done for analysis of the various risk factors that would affect the

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continuity of the operations of harvesting and implying solar energy at East Timor. The
identified risk factors for the project were Power Issues at East Timor, Unable to use Local
Suppliers, High Exchange Rates, and Absence of Occupational Health and Safety at East
Timor. These risk factors had to be faced for developing the ATA’s East Timor Solar project
and completing it successfully. As opined by Paquin, Gauthier and Morin (2016), risk
identification had been done for critical evaluation of the proposed operations for forming
understanding on the occurrence and developing the solutions of the risk factors that might
impact the project operations.
The risk evaluation consists of the process of forming a deep analysis of the identified
risk factors, evaluating the impact level and probability, and prioritizing the risk by using risk
priority matrix (Karlsen, Folke-Olsen & Torvatn, 2015). The risk evaluation would be done for
ensuring that the development of the project would be carried on for forming the impact analysis
of the risk processes. The project of ATA’s East Timor Solar project consists of various risk
factors like power issues at East Timor, unable to use local suppliers, high exchange rates, and
absence of occupational health and safety at East Timor. The project team would have to deal
with these issues for ensuring that the operations of the project would be completed successfully.
The risk management would employ the use of the specific strategy for dealing with a particular
type of risk. The risk management would ensure that the deployment of the risk mitigation
strategies for the successful completion of the project. The development of the risk mitigation
would require the consideration of the effective and improved risk management planning
(Bowers & Khorakian, 2014). The various risks of the project were raised due to the organization
of ATA being an outsider at East Timor. The project of ATA’s East Timor Solar project would

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comprise of developing and installing the system that might result in causing injuries and burns
to the employees.
According to Zhao, Hwang and Phng (2014), the risk mitigation strategies would involve
the deployment of the effective and smart solutions to the listed risk factors for ATA’s East
Timor Solar project. The organization ATA had deployed the Support of their Partner
Organization (Timorese) for ensuring that they follow the working culture of East Timor. The
local organization would be extremely helpful in bridging the gap of working culture of ATA
with that of East Timor. The local organization had even resolved the issue of language barrier
for the organization ATA. The organization had even formed some Allowance in the Overall
Budget for the project for ensuring that the risk of budget is overcome. The organization had
deployed the use of Timor OH and S Health and Safety Policies for ensuring that the
development of the project would be highly facilitated by the formation of the effective and
smart processing of the organization. The occupational health and safety compliances of
Australia would be limited for being mixed with the East Timor’s OH and S policies. The
monitoring and control of the project risks would tend to evaluate the development of the proper
integration and management of operations. The deployment of the effective and improved
functions of risk mitigation would be monitored for realizing whether the operations of the
project would be done sufficiently correct (Pritchard & PMP, 2014). The risk monitoring would
ensure that the deployed risk mitigations strategies are successfully implemented and the overall
impact of the risk is minimized.
Conclusion

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The risk management planning for the project of ATA’s East Timor Solar project had
been developed by considering the operational risk of the project. The identified risk factors for
the project had been power issues at East Timor, unable to use local suppliers, high exchange
rates, and absence of occupational health and safety at East Timor. These issues can be resolved
by the support of their partner organization, forming an allowance in the overall budget, and
abiding by the East Timor Oh and S health and safety policies. The risk management planning
had been very helpful form ensuring the overall safety and compliance of the operations of the
project of ATA’s East Timor Solar project. The developed plan had been made by using the
concepts and principles of project risk management.

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References
Bowers, J., & Khorakian, A. (2014). Integrating risk management in the innovation
project. European Journal of innovation management, 17(1), 25-40.
Galliers, R. D., & Leidner, D. E. (Eds.). (2014). Strategic information management: challenges
and strategies in managing information systems. Routledge.
Karlsen, J. T., Folke-Olsen, O., & Torvatn, T. (2015). Project risk management: use and benefit
of various tools. Transportation Systems and Engineering: Concepts, Methodologies,
Tools and Applications, IGI Global, Hershey, Pennslyvania, 250-271.
Liu, J., Meng, F., & Fellows, R. (2015). An exploratory study of understanding project risk
management from the perspective of national culture. International Journal of Project
Management, 33(3), 564-575.
Paquin, J. P., Gauthier, C., & Morin, P. P. (2016). The downside risk of project portfolios: the
impact of capital investment projects and the value of project efficiency and project risk
management programmes. International Journal of Project Management, 34(8), 1460-
1470.
Pritchard, C. L., & PMP, P. R. (2014). Risk management: concepts and guidance. CRC Press.
Teller, J., Kock, A., & Gemünden, H. G. (2014). Risk management in project portfolios is more
than managing project risks: A contingency perspective on risk management. Project
Management Journal, 45(4), 67-80.

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Zhao, X., Hwang, B. G., & Phng, W. (2014). Construction project risk management in
Singapore: resources, effectiveness, impact, and understanding. KSCE Journal of Civil
Engineering, 18(1), 27.