Question
Use the template below to give examples of possible risks when you open a second venue for a restaurant. Scope of the project as below:
Use the template below to give examples of possible risks when you open a second venue for a restaurant. Scope of the project as below:
Project Objectives |
The high-level goals of the project are to open a second venue for the restaurant in another city, thereby expanding the customer base, increasing brand presence, and generating additional revenue. The success criteria for the project include:
|
Risk Rating Matrix to use to evaluate the project risks
Likelihood | Consequence | ||||
Insignificant | Minor | Moderate | Major | Severe | |
1 | 2 | 3 | 4 | 5 | |
A (Almost certain) | High | High | Very High | Very High | Very High |
B (Likely) | Moderate | High | High | Very High | Very High |
C (Possible) | Low | Moderate | High | Very High | Very High |
D (Unlikely) | Low | Low | Moderate | High | Very High |
E (Rare) | Low | Low | Moderate | High | High |
LIKELIHOOD | |
| Is expected to occur in most circumstances |
| Will probably occur in most circumstances |
| Could occur at some time |
| Not likely to occur in normal circumstances |
| May occur only in exceptional circumstances |
CONSEQUENCE | |
| Minor injuries, external reputation not affected, no environmental damage, threat of litigation, etc. |
| Minor casualties that require medical attention off-site, no long term effects, external reputation minimally affected, minor environmental damage, single minor litigation, etc. |
| Several casualties that require hospitalisation with no long term effects, some environmental damage, single moderate litigation, etc. |
| Serious casualties, external reputation severely damaged, would cause extensive environmental damage, single major litigation, etc. |
| Legal consequences, multiple litigations, termination of the contract, loss of life, permanent disability, external reputation irrevocably damaged, catastrophic environmental damage, etc. |
Risk template to be used as example
ID | Risk registered by (Name) | Date Identified | Risk Description | Likelihood of the Risk Occurring | Impact if the Risk Occurs | Rating | Mitigating Action | Who is responsible? | Date implemented | How will this be reviewed? (Risk review process) | Revised Likelihood of the Risk Occurring | Revised Impact if the Risk Occurs | Revised Risk Rating |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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