Expert answer:Project management: Risk Analysis (250 words)

Expert answer:what ranking process will work for your risk work this week? Why did you select that process? How can you integrate your risk threshold from your risk management plan as you work to determine what risks warrant a risk response?
risk_analysis_table.docx

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Risk
Qualitative Analysis
Management
Risk Event
Probabil
Reasoning
Impact
Explanation
ity
Lack of
Low
Most of our website
High
Education of the developers takes
Development
architects(300%), test
long time which will seriously slow
Skills
crew(300%), and graphic
down the schedule of the project.
designers(300%) have
experience of working in
similar projects.
Low Data
High
Quality
We have neither enough staff
Medium
Inferior data might damage the
to filter the data that
primal performance of the output,
stakeholders have provided,
while it can be improved during the
nor trust relationships with
operation of the website.
them.
Poor Scope
Medium
Management
The owner of the project
High
The project team doesn’t have
seems intended to add more
abundant resources to tackle with
requirements into the project
extra requirements.
scope.
Site Not High
Medium
The budget allocated to the
Low
The uniqueness of our project’s
On Google
bidding ranking is relatively
outcome, such as finding qualified
Search Results
low.
seasonal employees, guarantees the
the number of visitors.
Low
Low
We have experience in
Conversion
designing an user-friendly
Rate Due To
UI
Low
We can later make more adjustment
to the UI during its operation.
Difficult UI
Lower Than
Low
Anticipated
Current economic climate
High
and tourism industry is rosy
The project’ low returns have great
effects on the business gaol of the
Financial
organization
Payback
Financial
Delays
High
Due to the lack to financial
staff int he team and the
barriers in the
communications among
departments, the financial
Low
It will cost some unnecessary trouble
as some resources are prorated.
delay is likely to happen.
Inadequate
Medium
There are many number of
High
It will put us at a disadvantages if the
Information
business analyst(500%) and
competitors provide similar or even
About
marketing staff,
services before us. It will doom our
Competitors
enables us to perceive
which
efforts and resources invested.
competitors intentions
earlier.
Unavailable
High
We don’t have financial staff
low
As we have draw a detailed budget
Cost
in the team, thus it is very
plan, invalid cost information won’t
Information
likely that the invalid cost
affect us much.
information will occur.
Incomplete
Low
Medium
Data Migration
Team Member
directly lead tot the schedule overrun.
Medium
Quits/Leaves
Several Data
Redoing the data migration will
Medium
The key team members are
Medium
As the system adopts some new
seniors who are loyal to the
algorithm, it is difficult to let
organization, while some of
newcomers to take over the leavers’
the technicians are relatively
jobs. However, we have abundant
new employees
technical members in the team.
Due to using new
Models
development method, the
Change
development team is likely
High
Changing models will consume lots
of time and budget.
to face this challenge.
Delays In
Low
Getting Permit
Lack Of
Low
We have much experience in
Low
The process of applying permits
communicating with the
starts very early in the project life
governing authority
cycle.
The sponsor of the project
High
Without the support from
Management
has guarantee the support
management, the project cannot get
Support
from the management level.
any resources it needs.
Product
Low
High
Falling to meet the initial
Quality That
requirement of the project is often
Doesn’t Align
meant to be the abortion of the
With Initial
project.
Plan
Supplier
High
Server provider has told us
Medium
The probable rise of the price is not
Increases
that they are want to rise the
skyrocketing, and we have started the
Prices
prices due to the fluctuation
negotiation with them to try to bring
of the market.
the price down.
Suppliers
Medium
XFriend Studio used to
Delays The
postpone the delivery of
Delivery Of
their work.
Low
The major components will be
completed by ourselves.
Components
Data Loss
Medium
XFriend Studio doesn’t have
High
Competitors might taking advantages
strong information security
of our lost data to provide a similar
methods, so we concerned
service to occupy the market before
their the data security very
us. The leak of the client information
much.
will cost the our organization in
reputation and finance seriously.
Delay of
Low
Low
Low
Low
Customer
Signature
Policy
Development
Poor Test Plan
Medium
The newly developed test
Medium
Variability relationships exist
plan for the new algorithm
between sequential tasks, so the
adopted in the project might
delay of the test plan will lead to
not be as reliable as we
delay of the critical path.
hope.
…
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