Risk Management For Makeovers R Us

Risk management is an essential part of the successful carrying out of business and maintaining its sustainability. In the current report, the risk management processes of Makeovers R Us shall be analyzed in the context of a specific renovation project that has been assigned to the organization.

Makeovers R Us is an organization specializing in house management and garden renovation. The aim of the organization is to assist busy couples who do not have time to spare to renovate their houses. For the current project the organization has been approached by Cecile, an accountant, for renovating her kitchen. There are certain specifications that Cecile has mentioned and that need to be maintained while the project is being carried out. There are certain risks that have been identified with the project. A proper risk management procedure has to be formulated that shall address the probable risks and turn them into potential competitive advantage for the organization. The following section shall elaborate on the risk management approach in context of the specific requirements made by Cecile in order to deliver her need within a timely basis.

The different tools that are required for the project are building machines, wood cutting machines, polishing machines etc. The best quality machines and tools can help the company to mitigate all their risks. They shall make use of technique of making modular kitchen in order to give Cecile with the most unique and efficient kitchen in and around the place.

From the specifications mentioned by Cecile there are certain potential risks that might arise while the project is being executed and might hinder the effective completion of the task. However, attempts shall be made in order to turn the supposed risk from negative point to a positive opportunity for the organization. The following risks have been identified for the current project:

1. Place to Store kitchen equipment: There is a possible risk associated with the storage of the fridge and cutlery items while the renovation is under process. Cecile has mentioned that her lounge is too small to accommodate the fridge and therefore an alternative scheme has to be devised before proceeding with the work.
2. Time limit for completion of the work: The whole work has to be completed within a time space of 5 weeks. It is because after that Cecile is coming to stay at her home. Makeovers R Us has the sufficient resources in order to be able to complete the whole work of renovation within the stipulated time. Thus, this can be termed to be positive risk and can be a great competitive advantage for the company.
3. Temporary kitchen space during renovation: The company has tents and caravans with them which they can accommodate in Cecile’s compound so that all the necessary kitchen equipment can be stored and Cecile can cook her food in there. This was a main criteria provided by Cecile and this can be well utilized by the company to gain the contract well.

1. Providing the best color samples from which Cecile can choose: Choosing the color is a complicated affair as the color has to be liked by the customer. Color is an expression of one’s personality and therefore the color scheme has to be devised in consultation with the client. The client has also mentioned that the color has to match the benches. Therefore, a few color samples and prices has to be intimated to the client.
2. Giving the lowest price quote in order to gain the whole of the contract and keep good terms with Cecile: The prices have to kept as low as possible in order to sustain the consumer satisfaction. Combined with good service and low prices the client will be delighted and shall approach the organization for future renovation works.

Conclusion and Recommendations

It can be recommended that the company has to choose the best price and color sample options in order to be able to properly complete the work put forward by Cecile. It also has to make use of the most modern and effective tools and machineries in order to be able to do the work as it is desired. They also need to complete all the things within 5 weeks in order to properly fulfill each and every criteria of the contract and mitigate all the risks that they are likely to face when they will fully work upon the project.