Risk Register Workbook Instructions This template is to be used for identifying risks and creating plans for how to avoid them (negative risks) or how to make them happen (positive risks) and what to do if they happen (contingency plans) and managing them throughout the project. The first sheet, titled Risk Register, shows a number of fields to use for gathering the following information about risks. Risk ID is some unique value that identifies the risk. Risk Name is a short description of the risk. Risk Description "If this risk occurs, then what impact will it have on the project?" It should be written as an "If, then" statement. Impact as rated on a very low, low, medium, high, and very high scale. Probability as rated on a very low, low, medium, high, and very high scale. Risk Ranking: Using the risk matrix found on the right on the Risk Register sheet, detemine the color code (risk ranking) for each risk. Positive/Negative: Is this risk a positive risk (an opportunity) or a negative risk? Proactive Response Plan is a detailed plan of what changes will be made to the project, project scope, and/or WBS proactively to try to make the risk happen (positive risk) or stop it if it is a negative risk. Trigger Event is a description of how you will know if the risk has occurred or is about to occur. Reactive Contingency Plan is the description of what you plan to do if the risk happens. How will you react to the risk once it occurred? Risk Register ID Risk Name Risk Description Impact VH,H,M,L,VL Example: please remove before completing document. 1 Critical equipment does not arrive on time. If critical pieces of equipment do not arrive on time, the H project will fall behind schedule. Probability Risk Ranking Positive/Negative VH,H,M,L,VL What is the risk color code ? Is this a positive or negative risk from the risk matrix? H Red Negative Proactive Response Plan Trigger Event What do you think will trigger the event? What proactively can be attempted to make the risk happen or prevent it? 1. Add activities to the WBS to ensure with the manufacturer that the equipment is being built or shipped as required. 2. Have a member of project team go to the manufacturing plant to Parts do not ship on ensure equipment parts are in progress assigned date. and on schedule. 3. Add steps to the WBS to ensure the manufacturer ships on time. 4. Add steps to WBS to track the shipment as needed. Reactive Contingency Plan What are your backup plans if the risk should occur? If possible, have a backup supplier identified and standing by. 2 3 4 Impact Very high High Medium Low Very low Very low Low Medium Probability Risk Matrix High Very high Citizen Coffee Shop Charter The following is a project charter for citizen coffee shop as reviewed. The coffee shop has a list of targets, objectives and privileges. It's a place aimed at targeting coffee addicts and helping get relieved from their daily life duties. The coffee shop is taking advantage on the raised demand of coffee in the area. Its main duties are to ensure they satisfy the customers, create employment and to get a gross profit of 70%. Marketing strategies are aimed at building strong customer base. This is done by for instance increasing the geographical area occupied by the coffee shop, increasing the diversity of customers served may it be old or young and the different forms in which both of them take the coffee in. For instance, young people take coffee as white coffee or in chocolates and stuff while elder people take it as simple black coffee with some cookies. Employees should be trained for better customer service. Workers could be professional waiters but that is not enough to serve customers since there is specialization in the field. For instance, there are always new ways of preparing coffee or tea and the supplements they come with be it cookies, cakes etc. Employee training could also come in how they treat customers and make them come again. For instance employees could be trained on how to give customers discounts after buying 5 coffees or even serving they fast to avoid keeping them waiting. Diversification of products is an essential tool to attract customers. For instance if coffee is sold white, black or even in chocolates it increases the numbers of customers coming to the coffee shop. The mission of the coffee shop is to create a society of relations and socializing to relive stress by their excellent customer service. This is done by reinvesting profits to allow growth of the coffee shop. This will make it outstanding and attract more people from the area. The products offered from the coffee shop are the best in the area and are diverse. This way customers will come more often due to the satisfaction. Market segmentation is aimed at serving particular markets in the industry to maximize profits and reduce competition if any. This can be done by differentiating the products and offering what is not being offered by other people. For instance offer coffee prepared by a recipe that is not common. There are purchased recipes that are prepared by the best chefs in the world. The industry analysis will enable the shop to prepare for any business dynamics in the market. It could change the market flow for instance increase the sale of other products like the supplements like cakes and cookies. It also changes the flow of the market in the sense that coffee becomes more marketable than other products. The coffee shop will focus on customer satisfaction. This will be necessary in order to curb competition. For instance the coffee shop could provide good programs to watch as people have coffee or games to play like chess, pools etc. The coffee shop could also do massive advertisement to create awareness and educate on the importance of coffee. References Executive summary of the Citizen coffee shop Gido, J., & Clements, J. (2014). Successful project management. Cengage Learning. Branch, L. J. (2015). The Impact of Project-Based Learning and Technology on Student Achievement in Mathematics. In New Media, Knowledge Practices and Multiliteracies (pp. 259-268). Springer Singapore. Andert, D., & Alexakis, G. (2015). Virtual Teaming and Digital Learning Strategies: Preparing Students for a Global Workplace. Journal of Online Learning & Teaching, 11(1). The opening of the Citizen coffee Shop Project Objective The objective of this project is to help coffee addicts and all residence of that region to get relieved from their duties and responsibilities by offering different types of highquality coffee at a pocket- friendly price by 01/10/2016 at a budgeted cost of $200,000. The goals of the project include the following. To build one of the most attractive coffee shops that will attract many consumers to the shop. The shop will display a very different image and look from other shops which will make it outstanding in the eyes of consumers. Offer different types of coffee in different amount depending on consumer preference and choice. This will ensure that each and every person is accommodated and has an opportunity to enjoy coffee in our shop regardless of the amount they are willing to spend in an expense of coffee. This will also allow individuals be it young or old to enjoy the coffee. Employ most of the local residence with required qualification to take the positions in managing and running the coffee shop affairs. As a result, it will give us a positive public image and attitude hence attracting more coffee consumers to our shop. Employ the modern technology to prepare coffee and keep it warm all the time so that customers are served as they come to avoid inconveniencing with their activities and operations. Project Assumptions As we are aiming at setting up a coffee shop, there are various assumptions taken into account since we are not sure whether things will work out the way they are planned. These assumptions include; Our coffee shop will be the most preferred shop in the region. It will receive many coffee consumers than any other coffee shop in the region. The shop will be open on a daily basis for twenty- four hours a day. It is assumed that there will be no any operation failure or any interruptions that will lead to the closure of the shop at any particular time of the day. It will be only coffee shop offering unique services. Their will be no any other proving services and products similar to our shop. They uniqueness will be in terms of different types of coffee, quantities in which they are provided and how they are served. There will be always clients coming in the shop to consume coffee on a daily basis. There will be no day that the shop will miss consumers to serve the coffee. The shop will be recording, at least, $500,000 annually and the cost of running the shop inclusive of all expenses will be at least $200,000. This means that the shop is expected to record at least $300,000 as the annual profit. It is also assumed that the number of coffee consumers and addicts will be increasing day in day out. Each day the shop will be recording a higher number of customers than the previous day. Coffee offered in our shop will be of higher quality than any other coffee provided in another coffee shop in that particular region. There will be no competition for customers and resources in the area. The shop will operate as a monopoly in the area with no any other shop providing the products and services offered in our shop. The demand for coffee will be increasing as time goes by. The increase will mean an increase in supply. It is assumed that demand for our coffee will keep on increasing. There will be enough resources that are readily available to start the business and run to the foreseeable future without any interruptions. There will be no any external forces such as from the government that will affect or interrupt the normal operation of the business. How the business operates will be determined internally. It is also assumed that the business will grow and expand to other parts of the country. Thereafter, the business will go national and finally into the internal market. The business or the coffee shop will operate in the foreseeable future. It is assumed that the shop will neither close down nor wind up anytime soon. The coffee shop will make profits constantly. In business, one either makes profit or loss but in case, it is assumed that the business will make profits at the end of each year and not losses. The coffee addicts and other clients will be willing to pay higher for our products and services. Customers will be loyal to our products and services. The shop shall acquire and retain customers over a long period of time. References Project Planning Matrix, Available at; http://www.fao.org/docrep/v9741e/v9741e09.htm Project Management: How to State your project's Objectives. Available at; http://www.dummies.com/how-to/content/project-management-how-to-stateyour-projects-obje.html Dr. Keith Mathis. Setting Measurable Project Objectives, Available at; https://www.projectsmart.co.uk/setting-measurable-project-objectives.php