RISK REGISTER

Risk One: Global Political Instability|
Description:|As a global business, The Company travels to various countries where the political climate is not as stable as in the US. Should a State where The Company does business experience instability, it may become difficult to continue operations.|
Owner:|The CEO would make the decision on whether to send staff or not to events in those places.|
Source:|The source of political instability is hard to identify. One source is dissatisfaction of the people with the treatment they receive by their government. Governments that do not respect their citizens invite rebellion.|
Likelihood of occurrence: |Medium: Several of the countries where The Company does business fall within the areas affected by the Arab Spring. As such the likelihood of some event happening is not unexpected.|
Severity of Impact:|Medium: Should this event occur, program staff may not be permitted to travel to these places which could impact renewal rates for members in those countries.|
Controllability:|Low: As a private, non-State entity, The Company has little control over the internal politics of a country. All the Company can do is ensure that it is complying with all local laws and are aware of the local customs and formalities.|
Risk response:|Risk One: Political Instability – The Company will work to develop strong relationships with members of the host country and in countries where there is a risk, The Company will have a plan for evacuating staff in the event it is needed. The Company will make certain that all staff traveling outside the U.S. have all paperwork (e.g. passports, etc.) and are familiar with the American Consulate staff and location.|
Risk Two: Power Outage|
Description:|The Company hosts its own website, has various electrical devices (printers, computers, Wireless Access Points), and needs lighting to do its job. Should the power go out, these tasks can’t be performed.|
Owner:|The Associate Director is the liaison between The Company and its various utility vendors. The Systems Administrator is responsible for ensuring vital equipment is protected with adequate battery backups.|
Source:|Weather is a big factor in The Company’s area and there are seasons of inclement weather including tornados, blizzards, and flash flooding. Each of these has the potential to interrupt power to the building where The Company is located.|
Likelihood of occurrence: |Medium: During the Spring, the area experiences frequent storms with the ability to produce tornados. During the Winter, snow fall has the ability to interrupt utility service to the building.|
Severity of Impact:|Medium: Should this event occur, program staff may not be permitted to travel to these places which could impact renewal rates for members in those countries.|
Controllability:|Low: As a private, non-State entity, The Company has little control over the internal politics of a country. All the Company can do is ensure that it is complying with all local laws and are aware of the local customs and formalities.|
Risk response:|The Company will invest in battery backups for all business critical hardware such as servers, switches, workstations, printers, and phones. For extended outages, The Company will contract with a local equipment rental supplier to obtain a generator to provide power until the event has been resolved|
Risk Three: Equipment Theft|
Description:|The Company staff travel frequently to direct the various programs operated by The Company. While travelling, they are exposed to the possibility that someone will steal any or all of the equipment taken to support the program.|
Owner:|It is the requirement of the travelling staff member to take steps to ensure the smallest opportunity for theft of equipment. It is the Associate Director’s responsibility to arrange for replacement equipment to be authorized and shipped or procured on-site by the staff member.|
Source:|People steal things for all sorts of reasons, need, thrill, revenge, spite… there is also ‘opportunity’ as some who would not go out of their way to steal may do so if the opportunity to do it presents itself with little chance of discovery.|
Likelihood of occurrence: |Low: Considering that equipment is mostly shipped directly to the venue and is accountable from the time it leaves The Company until it reaches, and is signed for by the staff member, the theft profile is very low.|
Severity of Impact:|Medium: Should this occur, it would certainly affect the quality of the event but it is unlikely to cancel it altogether. New equipment would be shipped or purchased to ensure ‘the show goes on.’|
Controllability:|Medium: By training staff and ensuring that protocols are observed at all times, this event can be avoided in most cases. Masking certain that the equipment is kept in a chain of custody where handlers are responsible for the equipment will also reduce risk.|
Risk response:|The Company maintains insurance on all equipment with a value over $500 in the event it is lost, stolen or destroyed. An emergency fund is also maintained so that new equipment may be rented or purchased so that the event can continue.|
Risk Four: Supplier Failure|
Description:|The Company uses a variety of 3rd party vendors to supply brochures, posters, lighting, projectors, and a host of other items for events. Should one of them not deliver on a contract, it could place an event in jeopardy.|
Owner:|It is the responsibility of the program owner to vet and maintain relationships with quality vendors. It is the contact manager’s responsibility to approve all contracts.|
Source:|The main source of this risk is that a vendor is unable to fulfill a contract with The Company either through negligence or over estimation of capability.|
Likelihood of occurrence: |Low: In general, The Company vets its suppliers and is very clear about its expectations. It also does research on potential vendors prior to signing any contract. The company doesn’t do high volume – tight deadline projects very often so the risk of this is low.|
Severity of Impact:|High: If this were to happen, an event may fail which could put it in jeopardy of being canceled or future attendance affected. Our events are funded through last year’s proceeds so it is important that each program hits its target goals.|
Controllability:|High: The Company can thoroughly vet potential suppliers and review all contracts in detail to ensure The Company is protected. Also, by properly planning and notifying vendors of The Company’s needs with plenty of time to fulfil the request, disasters can be avoided.|
Risk response:|All contracts with suppliers contain language to protect The Company against this type of event. Should it occur, The Company will exercise that portion of the contract to recover any damages or loss of revenue and tap the emergency fund noted above for the event.|
Risk Five: Illness|
Description:|Events are run by a program director. Should the program coordinator become ill during or just prior to an event, the event could fail as the contact person for the event is not in play.|
Owner:|The department head (DH) is ultimately responsible for the events in his or her department. |
Source:|Stress, poor hygiene, and diet are the main sources of illness. Each of these weakens the body’s immune system and allows illness to take root.|
Likelihood of occurrence: |Medium: Running an event is VERY stressful, program coordinators spend days on end in hotel rooms eating out and working extended hours to make the program a success. Personal health is often set aside so the job gets done.|
Severity of Impact:|High: If the program coordinator falls ill, the program will not run as smoothly as if they were there. If the program falters, it endangers next year’s program. These programs are a significant source of income for The Company.|
Controllability:|Medium: Under the current circumstances, there is little The Company can do in the short term to reduce the stress of the program coordination. Budget constraints make having two coordinators impossible but that is the solution; a backup coordinator. Alternately, having a standardized program plan where coordinator from another program could step in might be a solution.|
Risk response:|Illness is difficult to hedge against but The Company provides quality healthcare and incentives to stay fit. The Company also makes certain that there is a ‘backup’ coordinator, someone who knows the details of each event so that if someone does become ill the event can go on.|
Risk Six: Membership Drop|
Description:|Membership is a significant source of income for The Company. Individuals and institutions purchase memberships to gain access to the various services and products The Company has to offer.|
Owner:|The Director of Membership is responsible for all things membership. He, or she, sets policy, manages outreach, and maintains relationships with the membership.|
Source:|Perception is the source of this risk. If the membership believes The Company gives them good value for their money, they will renew their membership and spread the word about The Company. If they do not, membership will suffer.|
Likelihood of occurrence: |Medium: Membership is directly dependent on the value members receive from The Company. History shows when The Company grows lax in the production of its products and services, membership drops.|
Severity of Impact:|Member ship is a significant source of income for The Company and if membership drops it becomes difficult to produce the high quality programs and services the membership expects. This causes membership to drop which means less income. This creates a vicious cycle that can be difficult to pull out of.|
Controllability:|High: Event coordinators have a great deal of control over their programs. There is oversight but the coordinator was hired for their expertise and they have great latitude in decision making. Due diligence on the part of the event coordinator will go a long way toward preventing this.|
Risk response:|The Company will maintain excellent relationships with its membership through ‘evangelists’ who communicate regularly, bringing value to its members. By sharing expert wisdom from industry veterans, publishing white papers on relevant topics and providing world class products and services, The Company will keep its membership stable and growing.|
Risk Seven: Server Hardware failure|
Description:|Physical failure of the server hardware will prevent staff from accessing needed data.|
Owner:|The Systems Administrator is responsible for maintaining, troubleshooting, and repairing all IT related devices and technology.|
Source:|The primary cause of a hardware failure is dust. Dust clogs the heatsink and collects on the circuit boards, preventing them from dissipating heat which causes premature fatigue in the metals and ultimately failure.|
Likelihood of occurrence: |High: The server hardware is housed in an unsealed room where other materials such as cardboard and paper are stored. There is an access door to the outside in the room that is used as an entrance which allows outside air into the room.|
Severity of Impact:|High: If the servers failed, no one could access company data and administer their programs and the website doesn’t function.|
Controllability:|High: If the server room is isolated, the machines are inspected/cleaned as needed, and the room is kept cool, these things are unlikely to occur. It also means these types of issues would be more likely to be caught before they became a critical issue.|
Risk response:|The Company maintains a disaster recovery site where backups of mission critical systems are kept. In the event of a hardware failure, those backup systems would be powered on until new hardware or replacement parts can be obtained.|
Risk Eight: College Enrollment Decline|
Description:|Nation/World-wide higher education enrollment declines.|
Owner:|The Executive Director is responsible for showcasing the value The Company gives to institutions of higher learning. It is his or her responsibility to persuade members and potential members to stay or join as the case may be.|
Source:|There are many reasons college enrollment might drop. When the economy is good, enrollment drops. When the economy is bad, enrollment increases. Another reason is the tightening of financial aid rules; when people can’t pay for college, they don’t enroll.|
Likelihood of occurrence: |Medium: The US economy has its up’s and down’s but for the most part is fairly stable. There are cycles. |
Severity of Impact:|Medium: Membership in The Company, once purchased is typically stable over time. When an individual or institution purchases membership, they tend to maintain it even when times get lean because of the value The Company provides. The main issue is that new memberships do not materialize in the lean times which are a new source of income for the company and are vital to its growth.|
Controllability:|Low: The Company has very little control over the economy beyond its own sphere of influence and cannot affect larger markets at all. The Company must do its best to prepare for the lean times during the flush times.|
Risk response:|The Company maintains a database of industry jobs which members have access to. In the event that college enrollment drops and institutional jobs begin to disappear, the membership will be first in line for those jobs with support from The Company. This will reinforce The Company’s value and incentivize members to maintain their membership.|