Essay on Risk Management Plan

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Lectocomp
Electronics
Manufacturing

Risk Management Plan for Lectocomp Electronics

A risk management plan for the project to develop the integrated circuit boards for the medical device industry has been prepared by some of the members of the risk management team which include: (1) Joseph Lewis, Project Leader, (2) Dax Tahir, Project Team Member, (3) Ann Waye, Project Team Member, and (4)Autumn Ghattas, Project Team Member. In addition to these four individuals, the risk management team also includes all departmental team managers from Lectocomp. Our new quality manager has been appointed as the risk response tracking coordinator.
The risks that threaten a business are constantly changing and increase in complexity. That is why …show more content…
oInclude representative from each department in requirements, quality assurance and testing. oInclude opportunities for people in the various departments to meet and interact. oWork with team on strict adherence to overall project objectives and priorities. oUse consensus-building techniques when possible.

The subject matter is not well-known by the project team. oTake as much training as practical and as early as possible. oSpend extra time understanding and documenting the requirements. oSet up approval process for requirements that require multiple subject-matter experts. oBuild extra time into the estimates for application analysis and design activities.

Performance objectives are unclear. oPerformance objectives need to be in writing and agreed upon by the project team. oInsist that any change in expectations regarding performance objectives be issued as a formal Change Request.

The impact on the business procedure, process or organizational changes. oDocument the concerns that come out of a new organization and look for ways to mitigate the concerns. oCommunicate early and often about the potential for change and the business reasons for it. oInvolve representatives from all stakeholder areas in the organizational design and options. oGet human resources involved to deal with potential people issues

3. Risk Prioritization:

Risk prioritization is the
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