J&J Financial Services Risk Paper

In: Business and Management

Submitted By cheya2005
Words 1214
Pages 5
J & J Financial Services

Risk Identification, Ranking and Monitoring
The J & J Financial Services is a project in the making. It is designed to provide short-term loan to qualified customers within the rural community of Grand Gedeh, in the Eastern Region of Liberia, West Africa. The proprietor of this set up contacted me to assist him in developing a risk analysis for his project.
Giving my training and knowledge of what I have studied and know from my PM course, I advised him that the way to begin is to start a brainstorming session in order to explore and identify the potential risk for this project. The brainstorming process as indicated by (Cooper, 2005) allows for those involve in the risk identification process to exploit their creative capacity in the preliminary identification of a wide range of risks. Hence, in following this approach, an arranged meeting was scheduled for the J&J Financial Services’ proprietor, the Prospects Consultant Group, (PCG) Executive Manager and I to meet at the Offices of the (PCG) offices to begin the Process. The below outcome is what emerged as an initial risk assessment for the J&J Financial Services.
Brainstorming Session
The PCG offices provided the space and resources that were used to begin the process: a manual whiteboard, board markers, note pads, and other essential logistics were made available.
Identifying and Defining the Elements

1. Inadequate transportation 2. Fire hazard 3. Competitor’s threat 4. Theft/Security 5. Change in government regulations 6. Change in FX rate 7. Flood 8. Arbitration/courts 9. Energy Cost 10. Funding sources 11. Bank Interest Rate
Definitions
1. Inadequate transportation is understood here as the J&J Financial Services inability to reach a larger portion of the targeted market population. 2. Fire hazard here means both…...

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