Implementation of Risk Management System

This paper takes on an existing company that does not have a risk management system in place and attempts to implement it. The company is in the field of manufacturing red bricks. It is planning to expand to take the opportunity presented to it through the huge governmental investments occurring nowadays. The company managed to survive so far but it is tough times due to competition now and the company has to evaluate its options very carefully to succeed. In order to implement a useful Risk Management System, we have to implement different tools needed to support the risk management system such as the Work Breakdown Structure, Responsibility Interface Matrix, Critical Path Method, and Earned Value Analysis. Then we will describe the Risk Management System and provide the templates and tables to assist the project manager within the company to assess risks in an easy and effective manner