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Risk Management Strategy for Riordan Manufacturing�s Supervisor Training Project: Analysis and Recommendations

A risk management assignment analyzing training project strategies for Riordan Manufacturing.

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    Running Head: Risk Management Plan 1 Risk Management Plan Name Course Name Institutional Affiliation Date Riordan Manufacturing has identified the need for a Supervisor Training project to address low employee morale and high attrition rates. The company has adopted a risk management strategy for the project to minimize these issues. In a well - structured essay (750 – 1000 words), critically analyze the risk management approach adopted by Riordan Manufacturing for the Supervisor Training project. Discuss the key elements of the risk management process, including risk identification, risk analysis, and risk response strategies. Compare this approach with two real - world risk management techniques, such as the Risk Event Card and Root Cause Analysis techniques. Finally, provide recommendations for enhancing Riordan Manufacturing's risk management strategy based on your analysis.

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    Risk Management Plan 2

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    Risk Management Plan 3 Executive Summary Riordan Manufacturing has discovered a disturbing trend that has indicated that many of the employees are dissatisfied with immediate supervisors, department managers and local executive managers, who have failed to communicate and supervise in a professional manner. This has resulted in high attrition rate among employees and low employee morale. It has been observed that the low employee morale has adversely affected productivity of the employees and product quality. In order to improve the employee retention rate and employee morale , Riordan Manufacturing Supe rvisor Training project has been identified by the organization. The present paper discusses the Risk Management Plan adopted for the Supervisor Training project and compares it against two real world risk management plans adopted by organizations. Project Summary The Riordan Manufacturing Supervisor Training project has been identified to address the low employee retention rate faced by the organization. Hence the project would focus first on determining the reasons for high attrition rate of the company. In the next stage the project will develop a training program for supervisors and employees , approved by the top management, to improve the employee morale , to educate the supervisors on the importance of supervisor - subordinate relationship in the success of an organization and best practices across industries .F inally the project team will prepare a report for the top management on the steps to be taken to address the high attrition rate like compensation policies, career progression plan, fast track leadership programs , 360 degree feedback etc.

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