Graduate$-$Level Project: Comprehensive Risk Mitigation Strategy for a Multinational Corporation.

Project Overview

This project aims to provide students with a practical and in$-$depth experience in identifying, analyzing, and mitigating risks in a business environment. The project will focus on creating a comprehensive risk mitigation strategy for a hypothetical multinational corporation $($MNC$).$ This will involve both qualitative and quantitative risk assessment techniques and the application of various risk management frameworks and tools.

Objectives

Develop skills in identifying and assessing various types of business risks. $$

Learn to apply risk management frameworks and tools in a practical scenario. $$

Enhance strategic thinking and decision$-$making abilities related to risk mitigation. $$

Improve research, analytical, and presentation skills.

Project Components

$1.$ Company Background $(10\%)$

Description: Provide a detailed background of the hypothetical multinational corporation, including its industry, market position, global presence, and key business operations. $-$ Requirements: Include information on the company's organizational structure, business model, revenue streams, and any existing risk management policies.

$2.$Risk Identification $(20\%)**-**$Description:$**$ Identify and describe at least $10$ significant risks that the MNC might face. These risks should cover various categories, such as strategic, operational, financial, compliance, and reputational risks. $-**$Requirements:$**$ Use tools like SWOT analysis, PESTLE analysis, and risk assessment matrices to identify these risks. Provide a rationale for each identified risk and explain its potential impact on the company. $3.**$Risk Analysis and Evaluation $(20\%)**-**$Description:$**$ Analyze and evaluate the identified risks based on their likelihood and impact. Prioritize the risks using a risk matrix. $-**$Requirements:$**$ Use qualitative and quantitative methods to assess the severity of each risk. Include risk heat maps, probability$-$impact charts, and any relevant statistical data. $4.**$Risk Mitigation Strategies $(30\%)**-**$Description:$**$ Develop detailed strategies to mitigate the top $5$ prioritized risks. Each strategy should include specific actions, responsible parties, timelines, and expected outcomes. $-**$Requirements:$**$ Consider various risk mitigation techniques such as risk avoidance, reduction, transfer, and acceptance. Explain the reasoning behind each chosen strategy and how it aligns with the company's overall risk appetite and business objectives. $5.**$Implementation Plan $(10\%)**-**$Description:$**$ Create a comprehensive implementation plan for the proposed risk mitigation strategies. This should include a timeline, resource allocation, and key performance indicators $($KPIs$)$ to monitor progress. $-**$Requirements:$**$ Outline the steps required to implement each strategy, identify the departments and individuals responsible, and provide a schedule for implementation. Include a contingency plan for potential challenges during the implementation phase. $6.**$Reporting and Presentation $(10\%)**-**$Description:$**$ Compile a detailed report and prepare a presentation summarizing the entire risk mitigation strategy. The presentation should be suitable for the company's executive board. $-**$Requirements:$**$ The report should be professionally formatted, well$-$organized, and include all relevant data, analyses, and references. The presentation should be concise, engaging, and visually appealing, highlighting key findings and recommendations. #### Deliverables $-**$Written Report:$**$ A comprehensive document covering all project components, approximately $30-40$ pages in length. $-**$Presentation:$**$ A $15-$minute presentation with slides summarizing the key points of the report. #### Evaluation Criteria $-**$Depth of Analysis:$**$ Thoroughness in identifying, analyzing, and evaluating risks. $-**$Practicality of Strategies:$**$ Feasibility and effectiveness of proposed risk mitigation strategies. $-**$Quality of Implementation Plan:$**$ Clarity, detail, and realism of the implementation plan. $-**$Professionalism:$**$ Overall quality and professionalism of the report and presentation. $-**$Team Collaboration:$**$ Evidence of effective teamwork and collaboration $($if applicable$).$ #### Timeline $-**$Week $1-2$:$**$ Team formation, selection of hypothetical MNC$,$ and preliminary research. $-**$Week $3-5$:$**$ Risk identification and initial analysis. $-**$Week $6-8$:$**$ Detailed risk evaluation and prioritization. $-**$Week $9-11$:$**$ Development of risk mitigation strategies. $-**$Week $12-13$:$**$ Creation of the implementation plan. $-**$Week $14$:$**$ Final report writing and presentation preparation. $-**$Week $15$:$**$ Submission of the report and presentation delivery. This project will equip students with hands$-$on experience in risk mitigation, preparing them for real$-$world challenges in business risk management.