Risks Identified in the Consultative Meeting
The risk that has been identified are the disaster recovery plan, power outage, production need to be increased, climate changes, and low productivity.
Disaster recovery plan– The first risk that has been identified is the disaster recovery plan, wherein the recovery plan for the organization seems to be very crucial as it describes how an organization can rapidly resume work after an uncertain incident. In any business, it is the most important part of business continuity and is implemented to an organization’s factors that depend on an operating IT infrastructure.
Power Outage– The second risk that has been identified is the power outage, wherein the organization can face a huge loss in the future concerning their productivity.
Production needs to be increases– As per the given context, the organization has an opening of new branches in which they need to increase the production to run their business more effectively. If the technological problem arises, then it would be impossible for the company to operate in the forthcoming days.
Climate change– In any business, climate change will have a huge effect that needs to be focused on beforehand by organizational management.
Low productivity– The last risk that has been identified is the low productivity risk, which can have a bad effect on the business for the long term.
Identification, Evaluation, Prioritisation, and Treatment of the Five Risks
| Identification | Evaluation | Prioritization | Treatment |
| Disaster recovery plan | It is important for the organization to resume work after a certain incident. | High | To treat this risk, the organizational management set clear objectives for recovery, need to identify the issues, and choose a data recovery technique. |
| Power Outage | It can have a huge impact on the production process. | High | A technical team should always be ready for the alternative option so that the production process cannot be stopped. |
| Production needs to be increased. | In order to expand the business, production needs to be increased. | Medium | Advance technology or equipment are required for fast production, |
| Climate changes | It can also affect production and productivity. | Medium | The organization must have a plan-B for climate change. |
| Low productivity | It can directly impact the revenue of the business. | Medium | In order to enhance productivity, the company needs to have advanced technology and skilled workers. |
A Risk Action Plan
| Risk Description | Impact of risk | Recommended actions | Resource requirements | Timelines | Responsibilities | Monitoring processes |
| All of the five risks identified are related to the organization’s production and productivity. | All those risks can directly impact the productivity of the business, which will have a huge impact on the revenue. | The action that needs to be taken for the identified risks is the advanced technology for the production process with skilled workers. | The necessary requirements that need to focus the time, space, and equipment for training the employees. | For each identified risk, the management should give 30 days for the training process. | It is the responsibility of the organizational management to supervise the training process. | All the IT capabilities and processes should be monitor, and should create a plan of data collection. |