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In addition to these four individuals, the risk management team also includes all departmental team managers from Lectocomp. Our new quality manager has been appointed as the risk response tracking coordinator.
The risks that threaten a business are constantly changing and increase in complexity. That is why it is so important to have a viable risk management plan not only for our project but for the business as well. It is important that in developing our plan that we: (1) identify the threats or events that may affect the continuity of the project, (2) prioritize and set risk thresholds, (3) evaluate the tactics and the costs associated with the various proposed treatment plans for preventing or reducing the risks, (4) establish processes that will make us ready for regulatory audits, and (5) make informed decisions on how best to mitigate the risks of the project (Risk Readiness Assessment, 2005)...
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