Risk Management Plan Proposal - 986 Words

Risk Management Plan Proposal FIN/415 Background of organization Pepsi Co is a global food and beverage leader with net revenues of more than $65 billion (Pepsico.com, 2012). Pepsi Co began its life in the summer of 1893. In 1893 Caleb Bradham invented â€Å"Brad’s Drink† or Pepsi Cola as it is called today (Pepsistore.com, 2012). By 1898 Caleb Bradham bought a trade name of â€Å"Pep Cola† from a competitor who had gone out of business. On December 24, 1902 the Pepsi Cola Company was incorporated (Pepsistore.com, 2012). The following June the Pepsi Cola Syrup was registered with the US Patent Office for use in the fountain machines in the drug stores Caleb Bradham operated. After opening a second drug store†¦show more content†¦Financial reporting, forward financial reporting and audits are the key techniques that PepsiCo’s Board of Directors use in order to protect the associates, shareholders and stockholders from any substantial risk. Every market that PepsiCo is part of operates very uniquely, it is the responsibility of the Board of Directors and designated teams to ensure the operations, and transactions are compliant. Risk management techniques PepsiCo risk management techniques â€Å"ensure that risks are taken knowingly and purposefully† (PepsiCo, Inc. 2011 Annual Report, p 34). â€Å"At its most fundamental level, risk management involves identifying risks, predicting how probable they are and how serious they might become, deciding what to do about them and implementing these decisions† (Merna AL-Thani, 2008). The technique used by PepsiCo is a structured framework that eliminates risk when possible, reduces risk exposure, and transfers or retains risk when either is identified as the best option. â€Å"PepsiCo leverages an integrated risk management framework to identify, assess, prioritize, address, manage, monitor and communicate risks across the Company†(PepsiCo, Inc. 2011 Annual Report, p 34). This framework is outlined in the PepsiCo 2011 Annual Report as follows: †¢ PepsiCo’s Board of Directors- overseeing the Company’s risk assessment and mitigation †¢ The PepsiCo Risk Committee (PRC)- identify, assess, prioritize and address strategic and reputationalShow MoreRelatedaltex corp1408 Words   |  6 PagesAltex had to submit to the Army, within 60 days after contract award, a formal project plan for the two-year ATMP effort. Contracts at that time did not require a risk management plan be developed. A meeting was held with the project manager of RD to assess the risks in the ATMP effort. PM:  I m in the process of developing the project plan. Should I also develop a risk management plan as part of the project plan? Sponsor:  Absolutely not! Most new weapons systems requirements are established byRead MoreMartin Smith Essay995 Words   |  4 Pages Weatherstorm, his senior partner gave him three proposals to assess and evaluate. 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It is extremely unethical and this decision could ruin the future success ofRead MoreDesign Phases : Design Phase941 Words   |  4 Pagesnot need to be too detailed at this stage. A broad proposal should give enough information about how the system will work and a cost estimate (Hawryszkiewycz, 1998, p. 70). Although some of the authors consulted, by focusing on the technology related aspects of this phase in their writing, seem to suggest the proposals should be created by the systems managers. Yeates et al. (1994, p. 186) suggest to involve the system users in creating the proposals and ensure they take ownership of the project and