Risks

This section should further develop the risks identified in the project outline and the business case. The risk register presented in Chapter 5 and reproduced here as Table 8.13 should be included.

Table S.1B The risk register

Risk

Likelihood

Impact

Factor

Mitigations

Cost

Pre-written,

10

3

BO

1 Continue to use

2 days per month

packaged software

existing sales and

to synchronise

solution will not

marketing system

systems = $800

hold key sales

alongside new

data needed by

solution.

marketing team,

ACTION: JP to advise

resulting in their

sales team to prepare

inability to work

for parallel running.

effectively

2 Request a specific

change from

software supplier.

ACTION: PT to obtain

15 days'

detailed quotation from

additional fees =

supplier.

$6,000

Risk

Likelihood

Impact

Factor

Mitigations

Cost

If the live date

2

11

22

1 Identify this project

Portfolio

is missed, legal

as mandatory to

management

sanctions may be

make sure that it

team to consider

taken against our

has priority over

effect on other

business, resulting

essential resources.

projects

in damage to

ACTION: Sponsor to

reputation and

raise at next portfolio

other losses

management team

session.

2 Commence project

early to allow for any

slippage.

ACTION: Sponsor to

Portfolio

raise at next portfolio

management

management team

team to consider

session.

effect on other

projects

Based on supplier's

6

9

54

1 Identify an

$10,000

past performance,

alternative supplier.

premium

delivery of

ACTION: SS to ask

equipment required

Procurement for

for implementation

recommendation.

will be delayed,

2 Instigate a penalty/

$5,000 reward

resulting in delivery

reward clause in the

provision

delay to client

contract

ACTION: JP to ask

legal department for

guidance.

Risk

Likelihood

Impact

Factor

Mitigations Cost

Key people from the

6

9

54

1 Secure the services $1,500 premium

legal department

of an external legal

will be unavailable

representative.

during the summer

ACTION: Ask legal

because of their

department for a

engagement in

recommendation.

other projects,

2 Obtain portfolio

resulting in an

management

inability to make

team's authority

critical purchase

to use legal team

decisions

in precedence over other projects during the summer. ACTION: Sponsor to raise at next portfolio management team session.

Total risk-based contingency budget Maximum

$23,300

Total risk-based contingency budget Maximum

$23,300

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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