Comprehensive Risk Management Plan for Domino's - BSBPMG616 Project

This report provides a risk management plan for Domino's, focusing on securing the uncertainties associated with project execution in the online food delivery sector. It identifies stakeholders such as order givers, receivers, cost managers, and drivers, and addresses both internal and external r...Read More

RISK MANAGEMENT

Introduction
• Dominos being the largest online food
delivery chain in Australia also pertains to
risk and uncertainty.
• The main purpose of risk management in
DOMINOS is to secure the uncertainty
embedded with the project execution.
• The stakeholders in online food delivery
are order giver, order receiver, the cost
manager, resource finder, the quality and
time checker, driver.

Risk assessment
• Dominos can reduce the internal and
external risks with the help of insurance
and hedging. Companies can also obtain
credit insurance on their accounts
receivables.
• There is a chance of getting a wrong call
or wrongly assessed data and
information of the customer.

a) Establish the context
• External risks are those risk
factors which are beyond
human control or power these
can be divided into natural,
political and economic factors.
• Internal risks are born within
the organisation and can be said
as a part of the organisation.

b) Identifying and risk register
• The Dominos is going to enhance its
performance by drone delivery facility along
with door to door services.
• Uncertainty of consumer, declining of order,
disagreement, wrong conduction of
information, unusual behaviour is the expected
risk factors in online ordering.
• Risk mitigation refers to the strategic approach
that helps to reduce the threats faced by the
Dominos. Dominos prioritizes risk from severe
risk to least appealing risk.
Uncertainty of
consumers
Declining of
order
Loss of machine

c) Analysis and evaluation
Likelihood
Seriousness
Low Medium High Extreme
Low Wrong conduction of
information
Loyalty of customer Food quality
Medium Unpredicted costs Loss of machine Uncertainty of
consumers
Loss of control
High Customer feedback Declining of order Wrong destination High cost

d) Risk Mitigation
• Mitigation of risk refers to identification of risks to
reduce the likelihood, this strategy of identification
also include when the action to be taken and in which
stage is going to be taken.
• In case of loss of the machine i.e. the drone must have
a good general insurance to tackle the damages. In
order to look out the potentiality and impact the risks
are measured through likelihood and seriousness.
• Risk assessment approach has been applied to
distinguish different risks and issues so that an
effective strategy can be developed for progressive
growth.
IMPACT GRADE RISKS
EXTREME A Catastrophic in the case
of external risks, loss of
person or personal
injury, loss of control of
drone. Inflation
MAJOR B loss of assets and drone
MODERATE C non-predictable risks of cost
and time
MINOR D loss due to disagreement
NEGLIGIBLE E loss due to the loyalty of
customer

e) Risk monitoring
• In the process the risk factors
are identified, analysed and
then a new plan is implemented
for newly discovered.
• The higher risks are treated first
and the lower is treated later.
• Total review is created in this
stage through risk registers.

Roles and responsibilities
• A steering committee is basically an advisory or a
guiding committee which helps in making
decisions to eliminate the risk
• The duty of the project manager is to manage all
kinds of external and internal risk in a structured
manner.
• A project team is a group of members who are
assigned to do different tasks for the successful
completion of the project.
Steering
committe
e
Internal
Project
manager
External
stakeholders
Project
team Sponsors

Assess program risk management outcomes
• The Dominos acts more confidently
in achieving customer satisfaction.
• Internal stakeholders are those
individuals which are entities of the
organisation.
• External stakeholders are those
individuals who are outside of the
project but still are impacted by the
business project.
External
stakeholders:
external
stakeholders
are those
individuals
who are
outside of the
project but still
are impacted
by the business
project.
Internal
stakeholders:
Internal
stakeholders
are those
individuals
which are
entities of the
organisation.
They are
employees,
managers,
investors, the
board of
directors
Primary
stakeholders:
The primary
stakeholders
are those who
are directly
involved and
effect decision
making in
companies like
the owners,
investors and
employees

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