SUMNER_S201411596_Risk management plan

22230VIC Graduate Certificate in Management
Module 3 – Managing risk across multiple projects
Assessment 2 –Risk management plan – Corporate high-flier
SUMNER_S201411596_Riskmanagement plan Version2 2016
Page 1 of 13
Contents
Purpose .......................................................................................................................................2
Implementation............................................................................................................................ 2
Audience......................................................................................................................................2
Participants..................................................................................................................................2
List of acronyms ........................................................................................................................... 3
Organisational context.................................................................................................................. 3
Risk strategy.................................................................................................................................3
Riskidentification......................................................................................................................... 4
Risk analysis and evaluation..........................................................................................................5
Treat the risk................................................................................................................................ 5
Appendix A: Risk Register(as at 13/11/16).................................................................................. 7
Appendix B: List of Acronyms................................................................................................... 12
Appendix C: Part A – Risk Identification .................................................................................... 13

22230VIC Graduate Certificate in Management Module 3 – Managing risk across multiple projects
Assessment 2 – Risk management plan – Corporate high-flier
Page 2 of 13
Purpose
The purpose of this risk management plan is to identify, manage and implement risk management
strategies to mitigate risks associated with project Corporate high-flier.
The mitigation strategies to be developed and tracked as detailed in this risk management plan.
This document will be updated annually or as the need arises resulting from day to day business
operations.
Implementation
The risks identified within this planning document will be reviewed by the leadership team on a
quarterly basis against the business and marketing plans, to ensure that YB12’s objectives are being
achieved. Changes will be incorporated as necessary to eliminate the impact of identified and
associated risk factors. This risk management plan is intended to be read in conjunction with
‘Corporate high-flier’ Project Proposal document dated 30 October 2016.
Audience
Thisriskmanagementplanis directed atthe followingtargetaudience:
Group Reason
Coaches Business Operations
Master Coach (MC) Compliance andTraining
National Director(ND) National Operations
Global Director(GD) International Operations
Global Directorof Training YB12 training
Co-founderandCEO Governance of YB12
Corporate businesssector
Clients
Clients–to ensure a high standardof coaching meetsand
consistentlyexceedsbusinessneeds.
Participants
The followinglistof staff were involvedinthe initial brainstorming sessionand developmentof the
listof risks:
 Nikki
 Damian
 Nadia
 John
 YB12 Coaches

Page 3 of 13
List of acronyms
At AppendixBisa listof acronymsusedthroughoutthisdocument.
Organisational context
“As a global coachingorganisation YB12 is expandingrapidlyacrossthe nationand on a global scale.
Worldwide,YB12 coacheswork withthe likesof RollsRoyce,Honda-Nissan,Ferrari,Westpac,Yellow
Pages, Deutsche Telekom, and Nestle. YB12 provides a proven system and structure for coaches to
deliver YB12 programs as a consultant coach. As custodians of YB12 intellectual material we the
coaches share responsibilityforthe protectionof the programsandhence the reputationof the YB12
Coaches business. This determining factor means that the Leadership Team views the risk as
moderate.”
The Leadership Team acknowledges the requirement to share intellectual material with coaches to
grow the business.All newlyinductedcoachesare advisedof the YB12 Rulesregardingthe copyright
laws, which are governed by international law. During the induction process coaching staff are
requiredtoagree tothese terms.Complianceismonitoredinthefirstinstance bythe MasterCoaches
and regular evaluation of training and audits on the delivery of modules is carried out to maintain
integrity.
Risk strategy
To ensure thatall risksare identifiedina timely manneranddealtwithpromptly a "Risk Assessment
Model" (see diagram below) will be used. This will rank the risks in order of priority and those risks
identifiedas significant will be recordedon the "Summary of Risks" at Appendix A. Risk prevention
strategies will be developed, recorded and monitored on a quarterly basis by the Project manager.
Any significant new risks that have been identified shall be included and reported to the Project
manager quarterly.
Due to the scale and nature of this project it is not deemed as necessary to re-assess the risks by
applying the "Risk Assessment Model.
The followingdiagramrepresentsthe processtobe followed:

Page 4 of 13
Image taken from RISK MANAGEMENT PROCESS AS/NZS 4360 : 2004
Risk identification
The followinglistof potential risks has beenidentified:
Internal External
Marketing Plan:
Failure tocomplete orinadequate
marketingplan.
 Followupleads
 Planand booktalks
 Conducttalks
 Execute workshopsorsessions

Market:
 Changesin the market
 Accessto small tomediumcorporate businesses
 Cost of bookingvenues
Financial management:
Viability/liquidity
Reducing/insufficientincome
Loss of income
Income:
Changesinproductdeliverypricing
Increase inprintingandpublicationmaterials
costs
Human Resources:
 Coach supervisionandperformance
monitoring
 Poorinductionprocess
 Coach burn-out
 Accessto back office andongoingtraining
 Poorleadershipi.e.MasterCoach

Regulatory environment:
 Changesto regulatoryframework
 Negative response tointroductorytalk

Legislationcompliance:
 Copyrightlaws
 CorporationsAct
 YB12 accreditationprocess
 Taxationlaws

Competition:
 Losingopportunitiestogrow
 Otherproviders
 Unexpectedrapidgrowth
Corporate governance:
 Coach training
 Conflictsof interestnotmanaged effectively
 Policiesandprocedures notfollowed

Partnerships:
 Risksfromfailedpartnershiparrangements
 Riskof conflictwithpartners
Informationtechnology:
 IT not sufficientforexpandedorganisation
 IT not sufficientforWebinars

Internet:
Poorinternetservice

Page 5 of 13
Risk analysis and evaluation
At Appendix A is a register containing the finalised list of identified risks to Project Corporate high-
flier. These risks have been analysed using a colour coded matrix that rates each risk on:
 the likelihood of it occurring, and
 the consequences (seriousness) of it occurring.
The likelihood and seriousness of each risk occurring have then been combined to determine the
overall outcome. Table 1 below is the matrix used to give a final grade.
TABLE 1
Rating for Likelihoodand Seriousnessforeach risk
L Ratedas Low E Ratedas Extreme (UsedforSeriousnessonly)
M Ratedas Medium NA NotAssessed
H Ratedas High
Grade:CombinedeffectofLikelihood/Seriousness
Seriousness
Likelihood
low medium high EXTREME
low N D C A
medium D C B A
high C B A A
Recommendedactionsfor grades of risk
Grade Risk mitigationactions
A Mitigationactions,toreduce the likelihoodandseriousness,tobe identifiedand
implementedassoonas the projectcommencesasa priority.
B Mitigationactions,toreduce the likelihoodandseriousness,tobe identifiedand
appropriate actionsimplementedduringprojectexecution.
C Mitigationactions,toreduce the likelihoodandseriousness,tobe identifiedandcosted
for possible actionif fundspermit.
D To be noted - no actionis neededunlessgradingincreasesovertime.
N To be noted - no actionis neededunlessgradingincreasesovertime.
Treat the risk
The followingfactorswere takenintoconsiderationwhendecidingonthe bestremedyfor each risk:
 best course of action;
 individuals involved and those responsible for actioning the remedy;
 associated costs and benefits;
 likely outcomes;
 the nature of business and relationships;
 how to determine success and what this might look like.
Basedon the collaborative nature of the businesswithYB12,it was concludedthatfor the mostpart
risks posed a moderate risk to the project. And that these risks could be managed appropriately

Page 6 of 13
provided that mitigation actions were put into place. These plans are to be fully costed for possible
action if funding is available.
As a result of the risk assessment process the following has been determined:
 That it is not possible nor practical to avoid the risk as all of the activities are essential to
successfully achieve the objectives of the project.
 In most cases the risk can be safely managed to reduce the risk, as there are sufficient policy,
procedures and training provisions currently in place.
 It may be appropriate to transfer the risk associated with a breach of the YB12 rules.

Page 7 of 13
Appendix A: Risk Register (as at 13/11/16)
Rating for Likelihood and Seriousness for
each risk
L Rated as
Low
E Rated as Extreme (Used
for Seriousness only)
M Rated as
Medium
NA Not Assessed
H Rated as
High
Recommended actions for grades of risk
Grade Risk mitigation actions
A Mitigation actions, to reduce the likelihood and seriousness, to be identified and implemented
as soon as the project commences as a priority.
B Mitigation actions, to reduce the likelihood and seriousness, to be identified and appropriate
actions implemented during project execution.
C Mitigation actions, to reduce the likelihood and seriousness, to be identified and costed for
possible action if funds permit.
D To be noted - no action is needed unless grading increases over time.
N To be noted - no action is needed unless grading increases over time.
Change to Grade since last assessment
NEW New risk  Grading decreased
— No change to Grade  Grading increased
Grade: Combined effect of Likelihood/Seriousness
Seriousness
Likelihood
low medium high EXTREME
low N D C A
medium D C B A
high C B A A

Page 8 of 13
Id Description of Risk Impact on Project
(Identification of
consequences1
)
Likelihood2
Seriousness3
Grade4
Change Date of
Review
Mitigation Actions
(Preventative or
Contingency)
Individual/
Group
responsible
for mitigation
action(s)
Cost Timeline
for
mitigation
action(s)
WBS5
1 YB12 Rules Breached
Triggers include:
 Copyrightlaws not
followed
 Accreditation not
achieved
 Coach sharing
information outside of
normal channels and
failure to follow
processes
Any breaches of
international copyright
laws will result in
potential loss of YB12
intellectual property
which will negatively
impacton the YB12
brand and
subsequently individual
coaching practices
M E A NEW 13/11/16 Preventative:
 HighlightYB12 Rules at
Inductions
 Regular meetings with
Master Coach
 Audit of training and
program delivery
 Increase awareness
(include all
stakeholders)
Master Coach
CEO and
Leadership
Group
NA 28/11/16 N
2
Marketing Failure
Triggers include:
 No or inadequate
marketing plan
 Failure to follow up
leads
 Lack of clarity or
definition of purpose
Lack of appropriate
marketing strategies
means inability to
correctly identify target
marketand attract the
right clients – who,
what, where and
when?
M M C NEW 13/11/16 Contingency:
 Monthly training
sessions
 Weekly webinars
 Weekly meetings with
Master Coach
 Master Coach
authorisation
Project
Manager
Master Coach
NA 30/01/17 N
1 This canbe useful inidentifying appropriate mitigationactions.
2 Assessment of Likelihood.
3 Assessment of Seriousness.
4 Grade (combined effect ofLikelihood/Seriousness).
5 Work Breakdown Structure – specifyifthe mitigationactionhasbeen includedinthe WBSor work plan.

Page 9 of 13
3 Coach Training not
completed
Triggers include:
 Lack of Coach
supervision and
performance
monitoring by Master
Coach
 Poor induction process
 Coach not attending
weekly Webinars and
catch up meetings
 Poor leadership i.e.
Master Coach
Incomplete training will
result in gaps in
knowledge and
therefore a lack of
consistency in the
delivery of products. In
Addition authorisation
sign off cannottake
place until all training
has been completed
and approved by the
Master Coach.
L H C NEW 13/11/16 Preventative:
Provision of
comprehensive YB12
training program;
Face to face training
sessions complemented
by the provision of
material in the back office;
Provision of Mentor in the
way of a Master Coach;
YB12 Coach Authorisation
Process:
 Attend induction with
master Coach;
 Participate in the
teachings of the 12
Modules;
 Learn introductory talk
and gain Master Coach
approval;
 Submita Marketing
Plan;
 Conducta Marketing
Exercise and Present
Introductory Talk;and
 Acquire Clients
Master Coach
National
Director
Project
Manager
Master Coach /
Project
Manager
$5000
NA
NA
NA
NA
NA
NA
28/11/16
28/11/16
28/11/16
28/11/16
28/11/16
TBC
TBC
TBC
TBC
Y
N
N
N
N

Page 10 of 13
4 Failure to achieve
Authorisation
Triggers include:
 Incomplete coach
training
 Failure to learn
introductory talk and
have it approved by
Master Coach
 Marketing Plan not
submitted
 Marketing Exercise
and presentation of
introductory talk not
carried out
 Failure to acquire
clients.
Without authorisation
coaches will not be
permitted to practice in
the marketplace.The
standards and
reputation of the YB12
brand are at risk of
being compromised
should the
authorisation process
not be followed
correctly.
L H C NEW 13/11/16 Developmentofa timeline
and setting SMART goals
in consultation with Master
Coach.As Well as the
following measures:
 Monthly Meetings
 Weekly Webinars
 Weekly catch-ups with
Master Coach.
 Accessing material in
the back office to learn
introductory talk and 12
Modules.
 Supplied with an outline
of the Authorisation
Process requirements
Project
Manager /
Master Coach
NA TBC N
5 Funding is insufficient to
meet the project
requirements
Triggers include:
 Viability ofcoaching
business
 Insufficientincome
generated
 Loss of income
Inability to generate
sufficient income will
affect the coaches
ability to book suitable
venues for the delivery
of key note
presentation
L H C NEW 13/11/16 Preventative:
Sufficient investmentin
training has been made to
ensure:
 Access to training
materials and modules
 Ongoing supportfrom
Master Coach
The need for additional
funding has been
identified for booking of
venue and allocated to the
budgetforward estimates.
Project
Manager
Project
manager
$5000
TBC
28/11/16
TBC
Y
N

Page 11 of 13
6 PC is inadequate
continually fails to meet
business needs
Triggers include:
 IT not sufficient to
access back office and
attend live webinars
Inability to complete
training modules,
access back office,
attend live webinars
and communicate via
email
L H C NEW 13/11/16 Contingency:
CurrentPC is sufficient to
meetProject requirements
Update PC and maintain
software
Project
Manager
NA 28 Y

Page 12 of 13
Appendix B: List of Acronyms
CEO – Chief Executive Officer
FFB – Free-formbrainstorming
GD – Global Director
MC – Master Coach
ND – National Director
PC – Personal Computer

Page 13 of 13
Appendix C: Part A – Risk Identification
Risk Management Methodology – Brainstorming
The chosenRiskManagementMethodologywas‘free-formbrainstorming’(FFB).The reasonforthisselection wastogenerate alotof ideasin the
shortest timeframe. The outcome of the brainstorming session was that it produced a list of ideas which was subsequently brokendown by the
groupusingan affinitydiagram. A thoroughanalysisof all of the ideaswasconductedpostbrainstormingsessionanda final list was established.
Reasons
The reasons for selecting and using this methodology are as follows:
 Simplicity and easy to coordinate;
 to generate a variety of ideas in a short time; and
 produce new and creative ideas.6
Free Form Brainstormingprovidesarelaxedsettinginwhichthe participantssimplycontribute ideasastheycome to mind.The advantage of this
is that participants can feed of each other to build ideas. The main disadvantage of free-form brainstorming is that the less assertive and low-
rankingparticipantsmaybe inclinednotcontribute,hence the needtoprovide anenvironmentthatisveryopenand frank,free fromjudgement.
Given the non-hierarchical business environment this process was most appropriate.
Who was involved?
The brainstorming session involved the following personnel:
 Project manager
 External facilitator
 Coaches
 Master Coach
 National Director
 Global Director
 Director
6 Risk Management Toolkit http://www2.mitre.org/work/sepo/toolkits/risk/procedures/brainstorming.html

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