Introduction
Every project faces some degree of uncertainty in the course of its implementation. This is referred to the risk associated with the project. The risk of each project must be looked at before the project can begin. This is done to look for ways to take care of the risks expected. Various methods of risk analysis exist. One of them is the risk matrix and is commonly used (Spedding, 2007).
Research conducted by the various departments charged with food security indicates that people related products contaminate Soylent Green. Soylent green is a food product that is made from seafood. One of the planktons from China was tested and resulted in a positive result for people. This confirms the fact that Soylent Green contains people related products. Despite these findings, no harm has been reported in humans due to the use of this product (Hopkin, 2010). Tests are continuing to be carried out on this product to determine the exact contents of the product. They also aim at determining the exact effect of the product on its consumers.
The agencies do not intend to recall the product until when the any harm in humans will be confirmed. The risk of harm by the product due to the use of the product is very low. This is attributed t o various factors. One reason is that the contents contaminating these seafood’s are highly diluted. Also, the contaminants are a small fraction of all the nutrients of the plankton. The other reason is that Soylent Green is made from several other products and not just only this seafood (Hopkin, 2010). Also there are no cases reported concerning this product. The agencies charged with protecting the people insist that no panic should occur. They are developing further tests to determine whether this product poses any harm to humans.
This discovery poses a risk to the company’s business. This will result in a reaction from the people consuming the products. The situation is difficult since a dilemma exists due to the fact that this product is a part of the American diet and the discovery. The risk needs to be evaluated in order to come up with remedial measures. The analysis of the risks involved can be calculated using a risk matrix. It gives the probabilities of the risk associated with the event (Axelrod, 2009). The probabilities then lead to the consequences.
The consequence of the risk being negligible across all the probabilities is low (Hopkin, 2010). This is because the revelation that Soylent Green is human will not go well with its consumers. The effects are expected to be far reaching. Despite the fact that it has been a major part of the diet, people may not consume the product. The consequence of the risk being negligible is thus low across all the probabilities.
The consequence of the risk being is moderate across the first three probabilities. This is because the people will react heavily to these findings. In the rare and unlikely situation, the consequence will be low. This is because the probability will not have much influence on the consequences. The consequences of the risk thus cannot be marginal.
For the critical consequences, the result will be high (Doole, 2008). Consuming this product to some of the people is tantamount to consuming other humans. This is supported by the fact that people cannot stand the idea of consuming other humans. This will result in huge repercussions to the company. People will try to avoid its products. Some will rather die than consume the remains of other humans. They will look at other alternative sources of food to replace this product in their diet.
The consequence of the risk being catastrophic is spread between high and moderate. This is because people will as much as possible try to avoid the company’s product. This will have a bit of a catastrophic result. Due to the fact the people are used to this diet, people will not be able to totally avoid the company’s product. This will result in some of the people consuming the product since they are used to it.
Conclusion
The Soylent line presents us with a business faced with a risk. They risk losing their customers due to the revelations of the ingredients of one of the company’s products. A risk matrix had to be developed to determine the extent of the risk. The risk is found to have critical consequences. The consequences do not tend to be catastrophic due to the situation at hand. The people are starving and thus cannot totally avoid the company’s products.
References
Eagle, L., (2003). Film Actors, New York: Lone Eagle
Hopkin, P., (2010). Fundamentals of Risk Management: Understanding, Evaluating and
Implementing Effective Risk Management, New York: Kogan Page
Axelrod, A., (2009). RISK: The Decision Matrix: Strategies That Win, New York, Sterling
Doole, I., & Lowe, R., (2008). International marketing strategy: analysis, development and
implementation, New York: Cengage Learning
Spedding, L.S., & Rose, A., (2007). Business Risk Management Handbook: A Sustainable
Approach, New York: Butterworth-Heinemann
