Project Management Tools
Restaurants -- Management, Project management, Technology -- Management, Risk management
A risk management system (RMS) is being developed and offered to a soon-to-be open "PMT" restaurant specializing in Pan-Asian cuisine. The project focus here is on managing risks during the "implementation" phase of the restaurant life-cycle. The concerned stakeholders are being provided with tools instrumental in identifying risks to the project, assessing their potential impact, and developing actions to mitigate them. The underlying outcome of this report from our team‟s perspective is to understand how we can employ risk management system in real-life scenarios.
The report proposes the following risk management strategies for the PMT restaurant:
- Design, develop and implement a full-fledged risk management system (RMS) comprising of risk response plan and risk log
- Explain and integrate the use of a series of risk analysis tools such as SWOT analysis, Probability-Impact matrix, Network Diagram and Monte Carlo analysis
- Offer training and implementation steps for the above mentioned risk analysis tools
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Chotivanawan, Bundit; Hsieh, Yi-Lung; Lin, Yu-Hsiang; Mahaphol, Inthrayuth; Pathak, Ujjal; and Tanatammatorn, Napong, "Risk Management System for PMT Restaurant" (2010). Engineering and Technology Management Student Projects. 1083.