Solution To link the resource planning with the objectives, below table assumes 12-month period. The below table illustrates the linkages between the annual objectives and the resource required to meet those objectives in quarterly requirements. Resource planning process Existing Incremental requirement (in nos.) Objective (12-months) Resource resource Q1 Q2 Q3 Q4 Increase sales by 10% Sales force 10 1 1 Increase customer traffic by 10% No. of advertisem...

It is a crucial step in the planning process that we identify the type and quantity of the resources required to achieve the team's objectives. First we need to define resources The types of resources we will be dealing with are: Human Resources Physical Resources Financial Resource As a departmental manager, the different objectives to be achieved by the medium sized IT Company include; To raise sales by 10% percent and profit by 15% percent in two years’ time. Enhan...

Solution Disaster recovery plan: A disaster recovery plan is a contingency plan which comes into play in case organization comes in contact with events that cause loss to its vital assets and resources such as facilities and assets, including IT assets etc. The idea of such plan is to equip the organization with capability to deal with disasters to ensure that pre-disaster position is reinstated as quickly as possible. Factors to consider while preparing disaster recovery plan in ADNOC ...

Solution Risk treatment: This is the most common risk management strategy that I use because it is easily understood and implemented. It means I limit the risk impact so that when a risk occurs it causes the least amount of damage possible. Risk treatment can take form of any of the below: Avoid the activity Retain the risk Share the risk Change consequence or likelihood Seek opportunity Remove the source The treatment of risk depends upon the nature and severity ...

Solution We build on the model described in A.C.1.2, with health and safety category where we identified fall hazard as a risk. ADNOC Refinery observe the following:   Likelihood or occurrence of fall hazard is estimated to be once every five years (score of 2) Consequence or impact is minor injury that could result in employee having 3 days off to recover the injury (score of 2 in our model) The model has score ranging from 1 through 25 with the following classifications: ...

In this analysis the risk matrix model is used. According to Dumbravă and Jacob (2013) this model is a common qualitative model in risk assessment as a risk management model for risk quantification. This model is classified into different parts which include probability and impact classification, likelihood score risk, impact analysis, and calculation of the exposure risk. This is informed by Project Management Institute (2008) report that has noted that risk management is a detailed process tha...

Solution 2.2 Techniques to Specify Risk and Risk Interdependencies The critical process to specify risks can be at any level including the entire company, a strategic business unit, a function, project, process and activity. Similarly, as noted by Beasley et al. (2019) risk interdependencies identification are instrumental as they establish an elaborate objective to identify connected events that could give rise to other risks impeding the accomplishment of a specific strategy or objective...

Solution The question as to which technique is most suitable for a specific organization depends upon how best it suits the organization’s goal of identifying risks. Following techniques are used in ADNOC Refinery. These are evaluated below. It should be noted this list is not exhausted and are used in my organization for the purposes of identifying risks:   Checklists: In ADNOC Refinery organization-specific checklists are used to identify organization-wide risks. Management of AD...

Risk assessment model: ISO 31000 model provides a framework for risk management in all types of organizations. The basic risk management process, as is defined by this model can be seen in the following chart:       THE MODEL FOR RISK ASSESSMENT: The first step is risk identification; this is approached carefully and as extensively as possible so as to identify as much possible risks as possible. In this model, risk identification is done through three methods...

Solution It is important to note that operational manager’s responsibilities with respect to risk management stretch across the entire risk management process. Below are the responsibilities described of an operational manager with respect to ADNOC Refinery, broken down into each link of the entire risk management process. The criteria to manage risk is the first step. In ADNOC Refinery, of the many categories, one is occupational health and safety. This is further divided into It is the...