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Running head: Risk Register for Bank1

Project risk and contingency plan

Fazila Zavqibekova

Herzing University
Risk Register for Bank2


This Work talk over the risk registers for a bank in particularly to Analyzing the issue of ATM

teller giving minor many over the register. Moreover, it talk over the risk interview question and

answers that will assist in structure both, mitigation plan and contingency plan for the bank. As

reported by PMI "Risk register enclosure entire determined risks that can influence the project.

It can be as extensive as possible to comprise all distinguishable points that have the possibility

of happening and overall comprises evaluated the possibility of the risk occasion to happen,

austerity or feasible influence of the risk, possible timing and expected periodicity".

Keywords: Risk Register, Bank, Contingency Plan, Mitigation Plan

Risk Register for Bank3

Risk Register for Bank

ATMs - they're an essential development of our financial organization, and they are

considered by clients as an important section of customer banking. Consistently obtainable;

consistently prepared to supply a diversity of business deals, comprising money. Nevertheless,

with an evaluated 1.5 million ATMs currently in place worldwide at U.S. financial organizations

and in other trade options, the physical safety of these apparatus is a constant issue.
Risk Register for Bank4

Breakdowns of the Issue

The risk register for this problem of the machine is not giving the right sum on the consumers

record receipts at the window. The sum is off by 3-5 dollars on every deal. These are the risk


Risk Register
● Waste of profit
● Waste of service/Downtime
● Reducing of brand image
● Insider fraud
● Software malfunction

Because of this problem of incorrect printing, they can be sequences of events were consumers

might return and ask for the cash as there is no plain record. This may produce great uncertainty

and voltage with the bank managers and consumers. The consumers can get enormous loss

money each time the apparatus breakdowns. The next scope would be a waste of time in standard

service and struggling with the problem. This practice will produce a great brand image for the

bank and services. The following step would be this will produce an enormous insider fraud

choices were workers may steal money because of their no good record.

Finally, the software breakdown as this projects great security risk and can bring to complete

failure of the bank. These risk factors may boost the cost regarding losing consumers and

producing anxiety in the entire context, therefore, influencing the brand image.

Interview Questions & Answers

After recognizing Risk the following step would be having a dialogue with the shareholders who

are engaged in this operation. This will assist us in spotting the possibility of every personal risk

and the influence it can have on the case.

Risk Register for Bank5

Risk Factor
Risk Driver Probability Optimistic Most likely c
Loss of income 100% 0.90 1.00 1.10
Loss of service/down time 60% 0.85 1.10 1.20
Diminishing of brand image 80% 1.00 1.10 1.30
Insider Fraud/Employee
Dishonesty 30% 1.00 1.05 1.30
Software malfunction 100% 0.95 1.00 1.10

Contingency Plan

The following stage as a part of a contingency plan is to comprehend the price components that

are influenced with this issue like there will be a great distinction in the opening balance and

closing balance according to the bank accounts and consumer accounts. Thus as a preventative

measure the additional asset who are appointed to standard check every business deal and link it

with an accurate sum to account. The second step would be rise the software development group

to operate constantly to solve the issue as this software bug may produce enormous issues as an

initial prerogative the notion is to liberate some counter measures thereby it will figure out the

right sum on the slip.

Mitigation Plan

As a section of risk mitigation plan, the following stage would be to comprehend the

different rise in the price. As this will influence entire project cost. Safety safeguarding to greater

risk scopes.

Involving self-ruling device, moderate movement zones and cloud territories, Installation of

"Jitter Devices," mechanical assembly that are made to influence and jitter the card as it is
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relentlessly put into the machine, in that way disturbing the skimmer's endeavor to examine

whenever introduced on the machine, Compromised card number channels which put stolen card

numbers on a bank's "watch list," send SMS alarms to exploited people and ready Quick

Response Teams of bargained cards, Improved lighting, High quality cameras, including

incorporated camera frameworks and computerized shading pictures,

Fraudulent inhibitors, which incorporate splendidly shaded plastic adjustments set over the card

opening which keep the establishment of a scanner, Public mindfulness stickers on machines;

Mindfulness messages on the login screen with notification, for example, "Watch your PIN";

Active law requirement commitment; Card dropping strategies and convey a receipt of

withdrawal to the enrolled versatile number. This will draw out a reasonable comprehension on

the correct exchange. The effort to the security business.

Another progression is increment the product observing framework which will send extortion

cautions and correct the issue which has been affecting the client. I might likewise want to set up

neighborhood groups with each bank to screen exchange from their clients. Following stage is

prohibit another ledger holders from pulling back from this bank which will stay away from

gigantic perplexity and managing legitimate issues with different banks.

Cost Element Risks

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Loss of Diminishin Insider Software

Loss of
service/dow g of brand Fraud/Employee malfunctio
n time image Dishonesty n
Equipment X
Total direct cost X x
Project Management
Team x x
Direct /Indirect Labor x x
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Hulett, D. (2011). Integrated Cost-Schedule Risk Analysis. Burlington, VT. Gower Publishing


Retrieved from http://www.projectmanagementlexicon.com/risk-register/om - To.

PMI (2008), A guide to the project management body of knowledge, 4th Edition. Newtown

Square, PA, Project Management Institute.