Polo Loco’s failure may be due to the lack of the proper risk assessment. The risk assessment of change management should produce such information for the management of the organization that the primary risks are easy to understand and that the change management decisions may be prioritized. Thus, there have been several theories and attempts to quantify the risks of change management. Numerous different change management risk formulas exist, but perhaps the most widely accepted formula for risk quantification is: Rate of occurrence multiplied by the impact of the event equals risk.
How would you classify the risk assessment process where you work? Explain?
Respond in a minimum of 225 words.