Risk Management Assignment Task 1: Risk Identification 1. Based on the information provided in the case study and/or the supporting organization chart and WBS, identify and describe three significant risks associated with this project. Define the risk and why you believe each risk has potential to occur. Also, make sure to list any assumptions related to your chosen risks (Risk identification is worth 30% of total mark for this assignment) II. Determine the risk priority for each of the three risks you have identified using (Risk priority is worth 40% of total mark for

this assignment): Q Search Risk Probability Matrix (make whatever assumptions that are required to complete this task). Focus on risks that you believe to have a moderate or high probability of occurring. Risk Impact Assessment Matrix to indicate how each of your identified risks would impact the project's cost, time, scope and/or quality (make whatever assumptions that you require to complete this task). In addition to identifying the risk impact (L,M,H) you need to provide an explanation as support your risk impact assessment. Identify the relative priority of each of your identified risks using a Risk Priority Matrix Use the Excel templates provided for this assignment on D2L Brightspace. Task 2: Risk Response Strategies (worth 30% of the total mark for this assignment) Develop a strategy for responding to each of the three risks you have identified. Make use of the terminology and tools presented in this course. Be specific regarding b

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manufacturing. However, try to make your assumptions as realistic as possible based on cited research, where possible. You can only view this document Yo: not have permissions to edit it. - In submitting the computer file of your report, strictly adhere to the following: - Complete this assignment in Microsoft Word. Copy the Excel spreadsheets into the MS Word document. Do not submit separate MS Excel documents. PDF documents will not be accepted. - Remember to put your name and GBC number on the cover page of the assignment AND in the file name that you upload to D2L Brightspace. - Complete this assignment as if you were providing it to a business client. Use professional language. Do not use slang or colloquialisms. - Upload your completed assignment to D2L Brightspace (it is in the Assignments section) by 1:00pm (Toronto Time) October 18, 2023 - The format of the report should be as follows (marks will be deducted if format differs from below): Introduction - provide a brief introduction to the assignment Risk 1 - Risk description and assumptions (1-2 paragraphs) - Risk Probability Matrix - Risk Impact Matrix - Risk Response Risk 2 - Risk description and assumptions (1-2 paragraphs) - Risk Probability Matrix Points to Consider - PSI will need to ramp up its production to 100% pre-COVID capacity in order to meet the very tight timeline - Engineering has indicated that it can modify its current production line to manufacture the proposed products, but requires a different type of plastic than it currently uses for its suite of finished plastic products - Health \& Safety has indicated that the current production floor setup has staff working in close proximity to each other and does not conform to the social distancing measures Hospitals and medical offices are not typical customers, Sales \& Marketing will need to establish new customer contacts and secure purchase orders PSI Risk Case Study Assignment: Worth 20% of Final Course Grade: Company Background Plastic Services Inc (PSI) is a Toronto based manufacturer of plastic products. Founded in 2005, PSI began as a pioneering producer of recyclable plastic cutlery for local restaurants. Through sustained Browth and capital reinvestment, PSI expanded its production capabilities to capture a larger share of the consumer plastic goods market. PSI's current line of plastic goods include cutlery, food containers, water bottles, and cups. PSI has a total workforce of 600 staff spread across five departments (refer to Appendix A for organization chart). Scenario Like many other companies, the emergence of COVID-19 dealt a heavy blow to PSI. The demand for their line of plastic products sharply declined as consumer spending behavior shifted towards other consumer products such as toilet paper, hand sanitizer, and hair care products. By the second month of the pandemic, PSI was forced to lay off 40% of its workforce to maintain operations. In light of dwindling sales and slumping demand, Nam Shah, the PSI CEO, convened a meeting with the five department directors to present a new business plan. The surge in demand for Personal Protective Equipment (PPE) for front-line health workers and essential businesses has created a supply shortage in the market. This has created a public health threat for the provincial government of Ontario. To rectify the threat, the Government of Ontario invoked an emergency powers act restricting the sale and export of PPEs to only the province of Ontario. To further mitigate against the threat, the Government of Ontario also issued special grants for eligible companies capable of producing PPEs. Nam's proposal is to modify PSI's current production line to make face shields and transparent barriers. In order to be eligible for the grant and capitalize on the supply shortage, PSI will need to begin production within one month and requires the participation and coordination of all five departments. All five department directors pledged their support for Nam's proposal and nominate their departmental managers to serve as members of an executive steering committee. This committee is tasked with identifying and assigning resources to support the project. PSI has contracted you as a project manager to plan, manage, and execute Nam's business plan. The target market includes hospitals, medical offices, grocery stores, and other essential businesses