In your role as manager, when developing a risk management plan, you need to establish the context of the risk management plan in relation to external factors. Refer to the project that you identified in Part A and the context of the risk management plan that you have developed in Part B and C. Identify external factors that could have an impact upon the success or otherwise of the project. Your report should have 4 headings and one paragraph under each heading. If you consider that these factors will have no impact upon the project, explain your reasons. O Political factors O Economic factors O Social factors O Technological factors You are required to provide your assessor with the following document: A document with the title External Factors containing the above information.

Part A

Name of the organization is Burgeria. The activity majorly is the preparation and catering of fast-food items like burger, sandwiches, french-fries, drinks and such other allied products. Here the specialty is that all the spices, meat, vegetables and other ingredients used are procured from local organic farmers and catered through dine in and food delivery apps.

• The organizations objectives/goals.

The entitys major objective or goal is to cater good organic based food by making the junk food burger healthy to the greatest extent possible. And attract the customers with genuine and ethical business.

• A list of the organizational documentation or plans that must incorporate a risk management plan.

The possible list of organizational documentation or plans for incorporating risk management plan would include the following specifically:

1. A risk policy and procedure developed and written exclusively for the entity.
2. Risk Audit Documentation
3. Treatment Plan
4. Risk Register
5. Action Plan
6. Progress Reports for assessing the realization, mitigation and actions taken for competing risks.

• The list of headings to be included in risk management plan would be as follows:

1. Identifying Risks
2. Mapping out of Impact Vs. Likelihood
3. Plan for Risk Response
4. Assigning Responsibility or Owner of Risk
5. Triggers Understood and Listed
6. Backup Plan
7. Risk Threshold Measurement
8. A document

Risk Management Processes

The entity Im working for as a manager is an exclusive entity for burgers and allied products where the vision, mission, goal and objective is to replace the junk into healthy by picking the best organic ingredients available in the market along with importing of the best quality oils such that we make the products healthy.

We cater to the customers through dine in and take away where we have partnered with food delivery apps functioning in and around the city.

At Burgeria we depend on many organic farmers from our basic ingredients of meat to veggies and spices. The founders and the assigned managers travel together for fixing a farmer and enter into legal contracts with them the clauses of which would be legally binding on both the parties.

Despite of setting everything perfect also, we are prone to multiple risks that are enumerated below in the aforementioned headings.

5. Identifying Risks

The risk here would be as follows:

1. The farmers failing to supply the ingredients due to climate conditions and not able to harvest.

2. The spices not dried properly due to the seasonal differences requiring the artificial drying process affecting the quality.

3. Meat suppliers affected due to a common virus affecting the stock.

4. The delivery apps do not take care of the quality of the package and the time of delivery which affects the food quality reaching the customer and the same is complained by customers reaching many other customers.

5. Certain ingredients causing allergy for the customers which forces us to disclose the ingredients used.

5. Mapping out of Impact Vs. Likelihood

The likelihood of the above risks happening can be seen as below:

1. The farmers failing to supply the ingredients due to climate conditions and not able to harvest would be a once in a year so the likelihood can be marked to the proximity of 50%.

2. The spices not dried properly due to the seasonal differences requiring artificial drying process affecting the quality this can happen every once in a while when the climate is shifting with a small difference now so the proximity can be taken as 20%

3. Meat suppliers affected due to a common virus affecting the stock would happen or is seen as the trend of once in 2 years 5%

4. The delivery apps do not take care of the quality of the package and the time of delivery which affects the food quality reaching the customer and the same is complained by customers reaching many other customers seen most of the time say 80%.

5. Certain ingredients causing allergy for the customers who force us to disclose the ingredients used 50% is the proximity here.

5. Plan for Risk Response

Risk response for each would be as follows:

1. On reaching the time of the year which is prone to unfavourable climatic conditions there should be an extra stock kept for the supplies which should be veggies and spices.

2. In the issue of the virus in the stock to be taken as meeting for the food catered, the entity should abstain from using meat during that time as the proximity is low and the time period would also be less. This would help to protect our credibility and the interests of customers.

3. In the case of food delivery apps, we would reach the customers through our own delivery channel for proving it was not our mistake as an entity or the food.

4. In case of allergy we would train all our waiters to ask the customer for allergy when they first visit the entity and enter the same into a database such that the next time they enter we know their allergy.

5. Assigning Responsibility or Owner of Risk

We have a proper purchase manager, delivery manager, waiters and IT management team on board trained and ready to take responsibility for these issues.

5. Triggers Understood and Listed

This prior list has been made on the basis of various circumstances we have come through in the past such that we have proper registers accounting for this trigger and points to be comprehended in advance.

5. Backup Plan

The backup plan is to keep multiple suppliers from different places in hand to be used as alternates in case of climate change or virus affect a part of the country. Along with the setting of a good exclusive delivery channel for our entity and the IT management plan for the customer's allergy data such that we are not required to disclose our ingredients anywhere.

Part B: -

Goals and objectives of a business or project in view of risk management process -

• To integrate strategy formulation and business planning with risk management process.
• KPIs of employees designed to drive through risk management process
• Effective articulation and management of key risks
• To design and execute a global process to monitor and reassess the top quartile risk profile and identify gapes in management of those risks based upon changes in business objective and in external and internal operating environment.
• To define risk management strategies and to define accountability and action steps for building and executing risk management capabilities and improving them continuously
• You continuously monitor the information provided to top management in order to assist them as they manage key risks and protect the interest of shareholders.

Critical success factors of business management processes are -

• Communication and support from top management, this improves the decision making within organization in order to manage risks .Good communication within employees in an organization draws lot of conclusion which may prove magic for an organization. Clear communication from managers create a clear vision , objectives and goals in employee's mind and they cooperate their leaders in effective way.
• Culture, consist of pattern of values, ideas , thoughts and feelings which draws the individual behaviour. Setting up a good culture in company motivates employees towards adding values to the vision and mission of company.
• Organizational structure, decides the organizations internal pattern of relationship, authority and communication. The better relations within encourages employees to work towards betterment of company.
• Training, various types of training will train employees better to identify and handle risks within organization.
• Information Technology, it is a critical factor which helps organization in redesigning processes, better resource allocations, automation of processes and better coordination within organization which improves company's capabilities against business risks.
• Trust, it is a critical factor to establish coordination among employees which improves the overall performance of organization.