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Instructions: Read The Passages Below. Together With Your Group, Identify The Risks Involved in

The document discusses risks involved in a technopreneurial design and printing business and plans to mitigate those risks. It identifies risks like equipment malfunction, fire hazards, employee illness, vehicle accidents, and data security breaches. For each risk, it outlines the probable impact, mitigation response, planned actions, resources required, parties responsible, proposed timeline, and monitoring process to address the risk. The overall goal is to control risks that could endanger the business.

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Adrian Kenneth Dequiña Tandiama
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213 views6 pages

Instructions: Read The Passages Below. Together With Your Group, Identify The Risks Involved in

The document discusses risks involved in a technopreneurial design and printing business and plans to mitigate those risks. It identifies risks like equipment malfunction, fire hazards, employee illness, vehicle accidents, and data security breaches. For each risk, it outlines the probable impact, mitigation response, planned actions, resources required, parties responsible, proposed timeline, and monitoring process to address the risk. The overall goal is to control risks that could endanger the business.

Uploaded by

Adrian Kenneth Dequiña Tandiama
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 6

BM1911

Sanchez, Ella Mae, Tandiama, Adrian Kenneth,


Members: Silungan, Ronald Victor Section: BSIT4A
Date: 10/6/2020 Score:

Instructions: Read the passages below. Together with your group, identify the risks involved in
your technopreneurial enterprise. Print and fill out the table to plan your course of action when
these risks show up. Remember, one (1) table for one risk. You can have the table photocopied.

We all know that risks can come in different forms and could come internally or externally. A risk
management plan or protocol is typically included as part of a larger project plan, like a business
plan and is initiated early in the project lifecycle; the risk plan then evolves as the project
progresses. The overall goal of a risk management protocol or plan is to control risks in a way
that these risks would not endanger the life of the enterprise. The planning process enables
technopreneurs to identify risks and then create and document risk mitigation strategies and
contingency plans. Once completed, the plan will serve as a guide for everyone involved in the
enterprise.

The table below will serve as a plan for your technopreneurial business idea. It contains the
following areas:

1. Identified Risks - What are the risks involved in your enterprise?

2. Probable Impact - How would these risks affect your business?

3. Mitigation Response - How would your group lessen the impact of the risks?

4. Planned Actions - What are the steps you need to do in order to curb, halt, slow down,
or avoid the effects of the risks identified?

5. Required Resources - In order to address the risks identified, do you need money,
workforce, or help from external service providers?

6. Parties Responsible - Who will be responsible for addressing the risks? Will it be the
whole enterprise? Will it only be the general manager? Will it be the marketing
manager?

7. Proposed Timeline - How long will you address the issues of your identified risk (it will
all boil down to the weight of the risk)?

8. Monitoring Process - How will your group monitor the risks from not occurring again or
how will you be ready if these risks swing by again?

04 eLMS Activity 1 *Property of STI


Page 1 of 6
RISK MANAGEMENT PLAN
TECHNOPRENEURIAL
IDEA Design and Printing Business

IDENTIFIED RISK
Electric Equipment Malfunction

Loss of machine control that can result to faulty products


PROBABLE IMPACT
Missed deadline
Potential to lose outcome

MITIGATION
RESPONSE Inspect and fix found faults

PLANNED Ensure all electrical wirings and switch are installed properly.
ACTIONS
Conduct maintenance daily

REQUIRED
RESOURCES Have skilled professionals to check

PARTIES
RESPONSIBLE The Maintenance department and the Operations Manager

PROPOSED
TIMELINE As soon as possible. The risk should be addressed quickly.

Inspect, clean, test and maintain the equipment daily.


MONITORING Repair and replace those that overheat or have sparks.
PROCESS
Have safety switch and measures installed.
Have an equipment log.
RISK MANAGEMENT PLAN
TECHNOPRENEURIAL
IDEA Design and Printing Business

IDENTIFIED RISK
Flammable and Fire Hazard

Destruction of Business
PROBABLE IMPACT
Loss of Business
Employee Safety

MITIGATION Have the flammables stored in a fire proof storage


RESPONSE Install fire safety measures
Have fire extinguisher placed in every place

Don’t store flammables near heat


PLANNED Have professionals to routinely inspect the fire safety that was installed
ACTIONS Have proper storage and ventilations
Have emergency shutdown switch in case

REQUIRED
RESOURCES Hire a certified professional and one to monitor the safety alarms

PARTIES
RESPONSIBLE The whole enterprise

PROPOSED
TIMELINE As soon as possible. The risk should be addressed quickly.

Provide employee training on proper handling, storage and disposal of


MONITORING flammables.
PROCESS
Prohibit smoking inside the production area
Install fire detection and suppression devices
RISK MANAGEMENT PLAN
TECHNOPRENEURIAL
IDEA Design and Printing Business

IDENTIFIED RISK
Occupational Illness of employee

PROBABLE IMPACT Low morale in team


Slow production that may lead to missed deadline

MITIGATION Use temporary employee in case


RESPONSE Have accident investigation process
Train employees

PLANNED Employee training on how to handle ink


ACTIONS Appropriate working outfits
Provide first aid kits everywhere

REQUIRED
RESOURCES Have skilled professionals to check

PARTIES
RESPONSIBLE The whole enterprise

PROPOSED
TIMELINE As soon as possible. The risk should be addressed quickly.

MONITORING Conduct trainings on safety for the employees


PROCESS Inspect, clean, test and maintain the equipment daily.
Have a secure and clean environment for the employees health.
RISK MANAGEMENT PLAN
TECHNOPRENEURIAL
IDEA Design and Printing Business

IDENTIFIED RISK
Auto Liability and Driver Safety

PROBABLE IMPACT Property damage


Business Reputation damage

Ensure engine, electrical wirings, lights and brakes are working properly.
PLANNED Appropriate working outfits
ACTIONS Ensure that the driver is in good condition.
Conduct maintenance daily.

REQUIRED
RESOURCES Hire an experienced with professional’s license driver

PARTIES
RESPONSIBLE Operations Manager and Driver

PROPOSED
TIMELINE As soon as possible. The risk should be addressed quickly.

MONITORING Have a routine vehicle inspection program


PROCESS Have an accidental reporting and investigation program
Include a no cellphone while driving policy

RISK MANAGEMENT PLAN


TECHNOPRENEURIAL
IDEA Design and Printing Business
IDENTIFIED RISK
Information/Data Security

PROBABLE IMPACT Loss of Data


Loss of Business Credibility

MITIGATION Organize an expert response team


RESPONSE Remove vulnerabilities

PLANNED Should be monitored and frozen the data security


ACTIONS
Passwords and access codes for authorized users should be updated

REQUIRED
RESOURCES Management experts

PARTIES
RESPONSIBLE Employees and Operation Manager

PROPOSED As soon as possible. The risk should be addressed quickly.


TIMELINE

MONITORING Have computers inspected and serviced regularly


PROCESS
Back up data every night and store off site

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