Risk
Probability
Importance
Impact
Response to Risk
Action Plan
Person Responsible
Status
01
Organizational
.3 (low)
Moderate
.5 (medium) Will impede project from completion with additional tasks being delegated to other managers.
Transferred. New tasks will be transferred to other managers.
Changes in management will be addressed on weekly call. Where organizational changes will be voiced.
Project Manager
The project will dependent on the organizational aspect of each segment in the project. This will allow the project status to stay on the project time line.
02
Operations
.4 (low)
Moderate
.5 (medium) Will delay production and cause additional cost to budget.
Transfer. Operational items will be transferred to teams capable of dealing items if risk becomes a problem.
OrganizationProcess Assets. Expert Judgment. Contact managers on team to delegate who can take on additional operational tasks until further resolution is completed.
Project Manager. Operation team member
Defines the lead, support, and risk management team members for each type of activity in the risk management plan, and clarifies their responsibilities.
03
Strategy
.2 (low)
Moderate
.6 (medium). Will delay product time and efficiency.
Avoid. Proper strategy will allow for project to go on as timeline represents.
Methodology. Expert judgment. Detailed project management plan will be implemented prior to project start date.
Project Manager with all team managing members
Defines the approaches, tools, and data sources that will be used to perform risk management on the project.
04
Financial
.5 (medium)
High
.8 (high) Financial impacts carry the most burden on the company’s longevity.
Avoid. Proper cost analysis in action plan will help avoid financial risks.
Budgeting, stakeholder register. Analytical techniques. Contingencies fund will help allocate additional budget costs and keep project on budget.
Project Manager and finance team member
The stakeholder register, which contains all details related to the project’s stakeholders, provides an overview of their roles. Estimates funds needed, based on assigned resources, for inclusion in the cost baseline and
Establishes protocols for application of contingency and management reserves.
05
Software
.8 (high)
High
.9 (high). Software design will impact the project the most.
Mitigate. Have additional software companies ready to work as needed.
Project Charter. Contact additional companies when risk presents itself and have new company help develop software.
Software team
The software development phase will require the most time and could potentially pose the most risk. Given the importance of software in this project, the importance, probability, and impact will all be high risk.
06
Production
.7 (high)
High
.7 (high) can delay lead time and add cost to project.
Mitigate. Have additional staff ready to work night and overtime.
Project production chain. Have managers inform workers of additional work hours as well as weekend hours upon approval.
Project manager and Production Team
Production of the products will dependent on the predecessor events being accomplished. The production of the product will not completely be defined until the testing phase is complete.
07
Supply
.65 (Medium/high)
Moderate
.6 (moderate) Will impact cost, reliability, durability, and production time.
Transfer. Have additional suppliers ready when original
