Shining Paints Case Study - Carryout Qualitative Risk Analysis - Management Assignment Help

Assignment Task :

Shining Paints Co. is a paint making company based in Lahore, Pakistan. The company was a startup by a BU MSPM alumnus who had an IT background but sighting the business opportunity in this field has convinced a couple of financers to invest in her ideas. Shining Paints Co. has a strategy to offer multiple solutions to the customers with minimum cost. Their driving policy is growth, growth and growth. The investors have agreed to postponement of 3 years profits and maturity of their principal capital is set for five years. This means that all the profits go directly back to investment portfolio (for initial 3 years) and this gives the company cheap and enough capital to capture more market share with very aggressive marketing and sales strategies. Our Alumnus had crafted a nice equity deal by keeping 72% of the company. One of her key advantages over the competition is on technical side as she could hire very good technical resources both in manufacturing and R&D. They manufacture many grades of construction paints, enamels, emulsions and varnishes etc. Their customers range from local paint sellers, hardware shops, residential housing societies, government agencies and even household users. Their recent launch was highway marking paints, which has gone enormously successful owing to the higher quality performance of their product in all weather conditions and revenues have seen unprecedented hike. This has brought their SKUs to 18 distinct products and considering their only 3 manufacturing lines, the SKU diversification is not only novel, it is highly efficient and throwing competition out with shear market grab where both the price sensitive as well as quality conscious customers are receiving products upto their expectations. Shining Paints Co. had quite a ride in their first 2 years and when they were foreseeing major acquisition of a local paint company (middle tier supplier for raw materials along with  one supply line of emulsions manufacturing), COVID19 unfolded. 

In Late December, 2019, news from China started surfacing about outbreak of new Novel Corona virus. Being student of Project Risk Management in BU, the CEO quickly foresaw what was coming their way. Much of their raw materials (54%) come from specialty suppliers in China (Western Province of Guizhou). The price difference between these suppliers with local suppliers is about 35% and difference in level of service (LOS) is about 13%. This might be a huge blow to their supply chain. In a meeting with her team, in first week of February, 2020, she has expressed her skepticism on the growth targets and honestly expressed her fears on both the integrity of supply and relevance of demand estimates. The situation was quite bleak then.

However, like always Shining Paints Co were up their game and were ready to raise it even higher. They decided to consider this situation and manage it in a very structured manner. As Shinning Paints Co. was always organized in project based organization to reap the benefits of agility and creativity, they decided to accept the challenge as a “project”. However, the very lean team in Shining Paints Co. was already overwhelmed to keep things under controlled. CEO and core management team have hired you as an individual consultant to help them run risk management on their “project”.

After detailed meetings, you have decided to quickly create a risk management plan (including Risk Response Plan, Risk Contingency Plan, Fallback Plan and Workaround Plan) alongwith Risk Register. You will create risk reports on biweekly basis to keep key stakeholders informed.

While, you are working with the team to devise these documents, General Manager has sighted an opportunity of high demand of hand sanitizers (remember you are in 2nd week of February, 2020) in the market and has forwarded a suggestion to do all time biggest innovation in company to dedicate one manufacturing line to this new product. He has shown that inventory have all the ingredients except “Caprylyl Glycol” but he has already checked the commitment level of local supplier of the ingredient and the supplier has shown strong expression of interest to work with Shining Paints Co. R&D after consultation with manufacturing have already shown their eager acceptance of the idea. However, sales force is somewhat devastated by the fact that they have to go to altogether new customers. Our CEO is not worried much about this hitch as she believes that this might be a necessary evil and she has promised to consider special bonuses for this task. Marketing has agreed to the proposal. 

Here you are with your fresh knowledge from the class of Project Risk management and dedicated risk management team from Shinning Paints Co working directly for CEO. You have planned following two (2) major tasks. 

Task  1

After the initial discussion you have decided to create a risk management plan and risk register. The team has already developed a risk management plan and you are reviewing it. You are pretty happy with the level of detail. In mean time you are required to create a risk register. At this point in time you want to populate it till Qualitative Risk Analysis. Quantitative Risk Analysis and Risk Response entries will be left out in this iteration.

Exam Question 

Develop a Risk Register template as per need

Exam Question  

Who will approve Project Risk management Plan?

Exam Question 

Identify 25 Risks (with cause-risk-effect format) related to this initiative (consider threats as well as opportunities, for this you want to have a column in your risk register stating whether a risk is threat or opportunity) with adequate detail at this point in time

Exam Question  

Carryout Qualitative Risk Analysis

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