Risk Management Plan: Honda Car Servicing and Repairing Company

This report outlines a comprehensive risk management plan tailored for Honda Car Servicing and Repairing Company. The plan addresses potential risks across various categories, including workplace hazards, business continuity threats, and environmental concerns. The report details the methodology used, encompassing risk identification through stakeholder meetings, historical data review, and expert interviews. It then moves on to risk analysis, employing an impact matrix to prioritize risks based on their likelihood and potential consequences. The risk response planning section proposes strategies such as avoidance, mitigation, acceptance, and transfer, with specific actions and resources allocated to each identified risk. Furthermore, the report emphasizes the importance of continuous monitoring, controlling, reporting, and evaluation to ensure the plan's effectiveness, including regular status updates, risk register maintenance, and periodic assessments of the plan's impact on the company's scope, time, and costs. The expected outcomes include reduced workplace injuries, business continuity, and environmental sustainability.

Risk management
Name
School

Introduction
The main aim of the report is to design, develop and document a risk management plan
related to the reduction of accidents and incidents related to employees, prevention of operational
discontinuity, need for change in process or procedures and environmental impact issues in
Honda Car Servicing and Repairing Company. The company has been the largest motorcycle
manufacturer ever since 1959 (Miyakawa, 2017). Honda Car Servicing and Repairing is a
multinational conglomerate popular known for repairing aircraft, power equipment and
motorcycles. In, 2015, Honda Car Servicing and Repairing was ranked as an 8th largest
automobile manufacturer in the world (Schilling & Johng, 2017). Apart from the motorcycle
business, Honda Car Servicing and Repairing services other products such as power generators,
personal watercraft, marine engines and garden equipment.
Risk implementation plan for Honda Motor Honda Car Servicing and Repairing Company
Context and scope of the plan
Honda Car Servicing and Repairing will take an approach of assessing risk and managing
risks by use of the methodical process which provides the project team with ability to identify
risks, assesses the impact of risks, rank various risks and determine the course of actions of
reducing or eliminating risk. The impacts of risks and their likelihood will be added to the plan in
order to make sure the responsible personnel takes the necessary steps of implementing
mitigation response at the right timeframes. The responsible personnel will provide their
progress of assigned duties of risk management in the monthly project team. After the project is
complete, the project team leader (risk manager) will analyze all the associated risk identified by
the project team. Based on the results and findings from the risks identified by the project team,

project leader (risk manager) will identify areas of improvements that should be considered for
future projects concerning risks management.
Risk identification
Risk identification is defined as a process of determining the risk that might prevent an
organization from achieving its objective (Vijayakumar & Arun, 2017). In the phase of risk
identification, the plan will provide explanation of the entire process through which all risks and
hazards connected with the Honda Car Servicing and Repairing will be identified, methods used
by project team to identify risks, the forum where the process will be conducted and ways of
recording the risks. The typical methods that will be used to identify the risks in Honda Car
Servicing and Repairing will include conducting assessment meetings, conference and seminars
with key stakeholders and project team, review of historical information from similar projects
and expert interview. In an expert interview context, the risk management team will reveal
several risks which will be included in risk register and the project. In meeting context, the risk
assessment group meeting will be conducted with key stakeholders and project team members
for identification of the risks connected with potential hazards. In Historical review context, the
responsible project team members will revisit the history of previous projects to come up with
list of risks and hazards and further the approaches or activities that can be taken to mitigate
those risks. Generally, the phase of risk identification will involve evaluation of environmental
factors, appropriate stakeholders, project team, management plan including scope and
organizational culture. In addition, attention will be given to resource plan, cost estimates,
assumptions, deliverables and other crucial project documents. The likely types of risks that will
be identified include workplace risks, business continuity risks and environmental risks.
Workplace risks will include risks such as injuries and deaths, business continuity include risks

such as compliance risks and impacts of macro environment factors and environmental risks
include risks associated with climate change, floods, earthquakes, etc.
Risk analysis
After the risks are identified, it is essential to determine the degree of risks impact and
probability of each risk for allowing the project team leader (risk manager) to prioritize
mitigation strategy as well as risk avoidance. Therefore, in risk analysis, all risks identified by
the project team will be assessed in order to determine the range of possible outcomes of the
project. The qualification strategy will be used for examining the risks that will be prioritized and
the one which will be ignored. The risk having low impact and with unlikeness to occur will
have low priority while risks which have more likelihood of occurring and possess a significant
impact will be prioritized. The prioritization of risk will be conducted using a tool called “an
impact tool matrix”.
Probability and impact assessment analysis
probability impact
High (greater than 80% probability of occurrence Risks with a high potential of impacting costs
and performance of Honda Car Servicing and
Repairing
Medium (between 40% to 80%) probability of
occurrence
Risks with the potential of slightly impacting the
costs and performance of Honda Car Servicing
and Repairing
Low (0% to 30%) probability of occurrence Risks that have relatively little impact on the
costs and performance of Honda.

The risk matrix tool will allow project team leader (risk manager) to prioritize risk by
basing on the impact it has to Honda Car Servicing and Repairing. All risks assigned an
occurrence probability (likely or unlikely) and impact (either low or high) will be placed on
appropriate position on chat and the project team leader will move to the next process of
“avoidance plan or risk mitigation.
Risk assessment matrix
The risks falling on green zones have low impact and unlikely. However, all risks falling under
YELLOW and RED zones will have immediate risk response planning that includes both
contingency and mitigation plan.
Risk Response Planning and Risk management treatments,
In risk response planning, major risks falling under both yellow and red zones in relation
to Honda Car servicing and repair will be assigned to a nominated project team member for the
purpose of advanced monitoring. The approaches that will be selected for addressing the major
and minor risks such as avoidance, mitigation, acceptance and transfer of risks (insurance). In
risk avoidance approach, the identified risks will be eliminated by eliminating the cause. In a risk
mitigation approach, the project team will identify the method of reducing the impact or
probability of risk occurrence in Honda Car Servicing and Repairing. In risk acceptance, the
company will accept that nothing can be done with risks and move on. In risk transfer, the
Impact
H
M
L
L M H
Probability

company will make third parties responsible for risks (For example, Honda Car Servicing and
Repairing may opt to outsource some risks or advance insurance covers). Furthermore, all risks
that will be mitigated, the project team will come up with measures of reducing the likelihood of
the risk occurring or preventing the risk from occurring. The preventive measures may include
additional of human and capital resources, addition of tasks to the project schedule and use of
prototyping. Some of the resources that will be needed in this stage include notebooks, printed
historical risks handouts and printed WHS policies.
Monitoring, controlling, reporting and evaluation processes
According to research conducted by Hu, Cui, Demeulemeester & Bie (2016), the main
purpose of risk monitoring and controlling is to enhance continuous evaluation throughout the
risk management process and include the identification of condition for the entire process of risk
and documentation process. All the risks associated with Honda Car Servicing and Repairing
will be tracked, monitored, evaluated and reported to the risk management department. The
entire change request on implementation of a new process will be analyzed for their impacts and
possibilities to be identified. The project leader (Risk manager) will provide notification to
management about the essential changes of risk status on project status report. The Company
will monitor the risks by including highest scoring risks to the project schedule and assign them
to responsible team members. The addition of risks with the highest scores will assist the
manager to see the risks in need of close monitoring and the expected time for the project team
leader to provide status updates every month. Furthermore, the project team leader will ensure
appropriate team members are assigned with responsibilities of “monitoring the risks” and
providing the essential status updates including, the status of risk, conditions of risks and
documentation of the risk’s response results.

The project leader will offer effective leadership to the team members during the process
of developing responses of identified risks. With risks being identified and qualified, the risk
manager (project team) will develop mitigation and develop avoidance risk management
strategies. There will be inclusion of risks to the project plan and risk register. Furthermore, the
risk management plan will also be updated to ensure risks are monitored in timely manner. The
risks for Honda’s company risk management project will be monitored, controlled and managed
within the constraints of costs, time and scope. The evaluation process will be conducted on the
identified risks for determining how the risks impact the scope, time and costs of the Company.
The risk register will also be used during the process of controlling and monitoring the risks.
According to Papke-Shields, & Boyer-Wright (2017), risk management project must maintain a
risk register for associating mitigation strategies and tracking down the risks. The risk register
that will be used in Honda Car Servicing and Repairing is a log containing all risks identified,
risk category, impact to the company and timeframes of risk occurrence. Based on timeframes,
identified risks will be included to the project plan. Furthermore, the project leader will ensure
there is a response of status of the risks assigned to team members during the team meeting
(conducted on monthly basis) for the planning of risk timeframes. By the end of the risk
management process, the expected outcome will see all risks involved in world place identified,
the number of injuries reduces, products insured, business operating in a sustainable environment
and the possibility of future continuity of business.
Research results for Risk management plan
Category of
Risk
risk likelihood impact Proposed
Action
Resources Responsible
person
Time frames Deadline Expected
outcome
Success
metrics
Workplace
risks
-employee
injuries
-deaths
- reduced
Very likely high -Adherence of
WHS policies
and procedures
-Helmets
-Printed
WHS
policies and
Group A
(project team
member)
-Report
progress
during
monthly
1/6/2019 -Reduced number
of injuries and
any other kind of
accident or in
-Low accidents
reported
-Healthy

wellbeing
-Damage of
hearing
- procedures meetings.
-Final risk
management
results on
5/7/2019
1/7/2019
relation to the
workforce in the
Honda Car
Servicing and
Repairing
employees
Business
discontinuity
risks
-compliance
-political
instability
-change in
the economy
(e.g.
inflation)
low Very
high -Honda Car
Servicing and
Repairing to
comply with all
revenant
policies and
procedures
Human
resource
Group B
(consisting
of selected
team
members)
5/7/2019 1/7/2019 -Continuity of
the business
-Effective
compliance and
sustainability of
the company.
-Continuity of
the business
-sustainability
of business
Environment
al risks -earthquake
-floods
unlikely Very
high -insurance on
all company
products
-relocation of
the business to
areas with low
environmental
risks
-printed
historical
information
about the
previous
environment
al risk
Project risk
team leader
(project
manager)
5/7/2019 1/7/2019 -business
operating in a
safe environment
that can sustain
environmental
issues
-Insurance of all
Assets of
employees
including
employees
Insurance
covers
-Relocation of
business in
areas with a
high
possibility of
environmental
risks such as
coastlines
Tools used assessment process and in the research design
The tools used in the risk assessment process and research design include information
gathering techniques such as experts’ interviews, surveys, meetings with relevant stakeholders
and documentation of results. The root-cause analysis also was used to identify a problem,
discover the cause that led to it and develops the preventive measures. Risk probability and
impact assessment tool was used to determine the likelihood of a risk and potential effect on the
organization such as performance, quality and costs. The probability and matrix list were used to
rate quantitative risks analysis. The result from the tools indicates that Honda Car Servicing and
Repairing has many hidden risks that might affect the workforce and organization. Most of the
risks associated with the company have a very high impact and their possibility of occurrence is
high.
Conclusion

The results from the business plan, development and design show that if the Honda Car
Servicing and Repairing approaches the risk with effective preventive measures the number of
accidents in the organization could significantly reduce. In addition, the business could also
comply with all regulatory bodies such as WHS and further enhance its sustainability.
References
Hu, X., Cui, N., Demeulemeester, E., & Bie, L. (2016). Incorporation of activity sensitivity
measures into buffer management to manage project schedule risk. European Journal of
Operational Research, 249(2), 717-727.
Miyakawa, Y. (2017). The transformation of the Japanese motor vehicle industry and its role in
the world: industrial restructuring and technical evolution. In Restructuring the Global
Automobile Industry (pp. 88-113). Routledge.
Papke-Shields, K. E., & Boyer-Wright, K. M. (2017). Strategic planning characteristics applied
to project management. International Journal of Project Management, 35(2), 169-179.
Schilling, M. A., & Johng, J. (2017). Honda insight: Development and launch of a hybrid electric
vehicle. In New Horizons in Research on Sustainable Organisations (pp. 125-145).
Routledge.

Vijayakumar, K., & Arun, C. (2017). Automated risk identification using NLP in cloud based
development environments. Journal of Ambient Intelligence and Humanized Computing,
1-13.