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4.2 - Needs and Expectation With Risk Analysis

This document summarizes the needs, expectations, risks, and existing controls for various interested parties of an organization. It identifies parties such as end users, customers, owners, bankers, external providers, transporters, neighboring organizations, society, employees, and government authorities. For each party, it outlines their needs and expectations, potential risks if needs and expectations are not met, the severity and likelihood of risks, existing controls to mitigate those risks, and any additional action plans needed. It also provides definitions for how severity and likelihood of risks are rated.

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2K views3 pages

4.2 - Needs and Expectation With Risk Analysis

This document summarizes the needs, expectations, risks, and existing controls for various interested parties of an organization. It identifies parties such as end users, customers, owners, bankers, external providers, transporters, neighboring organizations, society, employees, and government authorities. For each party, it outlines their needs and expectations, potential risks if needs and expectations are not met, the severity and likelihood of risks, existing controls to mitigate those risks, and any additional action plans needed. It also provides definitions for how severity and likelihood of risks are rated.

Uploaded by

Safety Dept
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Needs and Expectations of Interested Parties with Risk Analysis

Last Updated on Date: 01.03.19 Review Frequency: 6 Months Next Review Date – 01.10.19
Interested Responsib Needs& Risk opportunity Severity Likelihood Risk Level Existing Control Action Plan
Parties ility expectation of (If Any)
Occurence
Final End Marketing No quality / Complaints in the Smooth business 4 1 4 Product Safety,
User / hazard issue in product may lead to operation and testing, validation
Consumer using product stoppage of supplies achieving business and complaint
targets monitoring
system is in place

Customer Marketing Timely receipt Product Quality Repeat customer 4 2 8 Marketing &
of the material Packing / Document order customer and Production team
at their premises not as per customer satisfaction taking the
as per agreed requirement result in feedback from
requirements to customer customer and
with required dissatisfaction and monitor customer
quality Lack of new supplies
development in the
product
Owner / Top Good business Loss of Business, Good Business, 4 1 4 Close monitoring
Promoters Manageme Good Profit Low Profit, Good Profit, of site activities,
nt Better Low Productivity, Better Productivity, External Audits
productivity Closure from Legal No legal issues, and certifications
No legal issue Authorities, Good Financial Proper financial
Financial Crisis Condition management

Bankers / Top Compliance as Delay may lead to Continuous and 4 4 Balance is


Investors Manageme per legal legal issues and effect smooth business 1 maintained for
nt requirement and organization growth operation auto-debit for
timely payment loans.
of loans Compliance is

MR/F/15, Rev. 0 Dt. 01.01.2019


maintained as per
calendar and
inputs from CA
External Purchase Material receipt Delay of incoming Monitoring
Providers / on time, material will delay Smooth running of vendor delivery
Vendors payment release the production production line and 4 2 8 and rating
as per customer satisfaction system to
agreement evaluate
Transporters Logistics Timely order, Timely delivery of Timely delivery of 4 2 8 Monitoring of
no much material to customer material to customer transporter
waiting and will fail and leads to communication
payment as per customer and timely
terms dissatisfaction payments as per
terms
Neighbouring HR Scrap disposal Lead to legal issues Better relationship 5 1 5 Monitoring &
Organizations & maintain with and disruption in the with neighbours and plant rounds are
zero pollution plant operation sharing of resources being taken along
as required with meeting
neighbours at
regular interval
Society / HR Doing CSR Lead to legal issue Good relationship 5 1 5 Various CSR
Villagers activities, no and disruption in the and they participate initiatives taken
pollution plant operation in the organization and monitored as
growth per plan
Employees HR Timely salary Effect on customer 4 2 8 Employee
payment, delivery and service Achievement of Training, Safety
training for and lead to internal organization target as and motivation
upgradation of issue in the per plan procedure is in
skills, safe and organization place and
hygiene work followed
culture
Government / HR Timely payment Legal action against Organization growth 5 1 5 Monitoring of
Local of tax and legal business and closure as per plan and no legal
Authorities / compliance, Job of business legal hassle compliances and
GDC creation, CSR tax payment,
and knowledge CSR projects,
sharing regular meeting
and sharing of
knowledge

MR/F/15, Rev. 0 Dt. 01.01.2019


Risk Rating Criteria

For Severity

5 - Critical (Major Customer Disruption)


4 - High (Customer dissatisfaction)
3 - Moderate (Internal line issue or stoppage)
2 - Minor (internal dissatisfaction)
1 - Insignificant (No or minor impact)

For Likelihood of Occurrence

5 - Almost Certain (Every Day)


4 - Likely (Every Week)
3 - Possible (Every Month)
2 - Rare (Once in a six month)
1 - Unlikely (Once in a year)

Action Plan / Reference to be ensured when severity is 5 or Risk Rating equal to or above 12

MR/F/15, Rev. 0 Dt. 01.01.2019

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