Individual Risk Management Plan-week 2 (2)

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School

DeVry University, Keller Graduate School of Management *

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Course

595

Subject

Management

Date

May 9, 2024

Type

docx

Pages

8

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RISK MANAGEMENT Project Risk Management Plan Mohammed A Guira Keller Graduate School of Management PROJ 595 March 8, 2022 1
RISK MANAGEMENT Contents Introduction ......................................................................................................... 3 Risk Strategies ..................................................................................................... 3 Methodology ........................................................................................................ 4 Risk Monitoring and Reporting ................................................................................. 5 Roles and Responsibilities ....................................................................................... 5 Stakeholder's Risk and Appetite ................................................................................ 6 Conclusion ....................................................................................................... 7 References .......................................................................................................... 8 2
RISK MANAGEMENT Introduction Risk is an incident that is probable to happen and could have a favorable or unfavorable effect on a project if it does occur. Possible reasons may result in specific impacts. Apple Inc. utilizes a thorough risk management approach that covers different areas of its business, such as product development, supply chain management, financial management, and market strategy. Apple's risk management techniques are not publicly disclosed in detail, but some of its strategies can be deduced from its public remarks, regulatory filings, and industry research. Risk management is an ongoing activity that occurs during the whole duration of a project. The process involves planning, identifying, analyzing, monitoring, and controlling risk management procedures. Several methods are regularly revised over the project's duration to ensure the identification of any new hazards. Risk management focuses on minimizing the probability and consequences of events that are unrelated to the project. Any occurrence with the potential for positive influence should be taken advantage of. The report will develop a personalized risk management plan for expanding the firm by entering new markets. Risk Strategies Apple employs a systematic method to identify hazards across its business operations. This entails assessing product development, production, supply chain interruptions, cybersecurity risks, regulatory adherence, market rivalry, and geopolitical influences. After identifying threats, Apple will likely assess their possible impact and probability. Risks are prioritized according to their significance to corporate objectives and their potential impact on financial results, brand image, and customer approval. Apple employs many tactics to mitigate recognized risks, such as 3
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