Complete Part 3 - the Risk Treatment (See attachment)
There are five columns to be completed in the Risk Treatment Plan:
Treatment Strategy,
Treatment Description,
Treatment Resources,
Risk owner, and
Deadline
A. Treatment Strategy
This is the risk response that you will apply to the risk. You will recall from week 6 that there are only 4 possible risk responses:
Avoidance
Changing the project plan (e.g. the scope statement, the schedule, etc) so that a particular risk can’t happen.
Typically this means removing something from the scope of the project to completely remove the risk, so it is 100% impossible. E.g. you have to produce website that will display on Windows Internet Explorer, Firefox, Chrome and Opera. There is a big risk that Opera will not display it correctly, so you remove “Opera” from the scope statement. Now that risk cannot happen.
Mitigation
Taking action to reduce the likelihood and/or the impact of an identified risk. E.g. there is a risk the project might be late because the team has not much expertise with SharePoint. You can mitigate the risk by providing training to the team and/or contracting a SharePoint specialist.
Transference
Paying someone to take the risk on your behalf (usually outsourcing or purchasing insurance)
Note that to transfer a risk, you must transfer it OUTSIDE the company. You can’t transfer to another team, or transfer by employing experts, because the company still owns all the risks of its employees.
Acceptance
You simply decide that you will accept the consequence of the risk if it occurs. This may be because you think:
There’s virtually no chance of it happening (e.g. a major earthquake in London), or
The impact would be negligible,
It is too expensive to deal with (e.g. the cost of insurance may be more than the impact of the risk event), or
You simply have no idea what you would do!
When you accept a risk, you don’t have to do anything further. If you try to plan anything for this risk then it becomes a mitigation.
B. Treatment Description
Having selected the strategy, this field is where you enter the details of how this strategy will be implemented.
C. Treatment Resources
People, equipment, budget, etc required for this strategy.
D. Risk Owner
The risk owner is the person responsible for ensuring that the risk strategy is put in place, and is also responsible for checking that the risk is dealt with according to the plan, if the risk occurs. This person may not be the same person who actually treats the risk. For example, the IT Manager may be the risk owner for the risk “Some laptop computers may be offsite and not upgraded”, but it will not be the IT Manger who actually recalls and checks each laptop, that is a task for a technician.
E. Deadline
Enter the date when the strategy has to be finalised (e.g. of the strategy is to buy insurance, then this will be the date that the insurance has to be purchased.
You need a Risk Management Plan: Risk Treatment Plan
Relevant Skills and Experience
A proficient risk assessor and Risk Management Plan writer
Proposed Milestones
$200 AUD - Completing a Risk Management Plan
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Proposed Milestones
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Coming from an risk analyst background, am familiar with financial risk (CAPEX/OPEX), Information risk, technology risk, COSO ERM, ISO31000 and can provide real good inputs for you
Relevant Skills and Experience
Have assessed businesses, technology, security (physical and logical) in 16 years of industry experience. Experienced in strategies for efficiencies or risk containments.
Proposed Milestones
$25 AUD - Provide risk mitigation strategies and control implementations
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Relevant Skills and Experience
Some of our SharePoint and Office 365 clients are :
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Proposed Milestones
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Relevant Skills and Experience
14 years in governance, risk and compliance within global organisations heading risk and compliance functions and team of managers. Experience includes PwC, Deutsche Bank and Standard Bank.
Proposed Milestones
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What is the industry in which you operate.