The table below shows a simplified version of each risk. Open the risk pages to check a detailed description of it and its response plan (only the first 10 risks have a detailed description and response plan).

[Below was copied basically ipsis litteris from the Risk Management document template]

Legend

Scores:

1: Very Low, 2: Low, 3: Average, 4: High, 5: Very High

Approaches:

• Avoid. Avoiding risk is changing the project plan to eliminate the risk or condition that leads to the risk, or to protect the project objectives from these impacts.
  • Note: It is usually very difficult to eliminate the risk or condition for it to occur...usually it is quite difficult to do this….
• Mitigate. Actions that seek to reduce the probability and/or impacts of an adverse risk event to an acceptable one. Taking action early to reduce the probability of an occurrence or impact on the project is more effective than trying to repair the consequences after they've happened.
  • Note: This is usually what can be done, take action (include tasks in the schedule, or include something in the budget, or decrease requirements or quality of requirements) to "mitigate" either the Impact of risk, or the Probability of it cccurring.
• Accept. Indicates that the project team has decided not to change the project plan to deal with a risk or cannot do something to identify some other appropriate response strategy. Active acceptance can include developing a contingency plan to execute when a risk occurs. Passive acceptance requires no action, letting the project team make an arrangement when risk occurs.
  • Note: By “accepting” a risk, and DOING ANYTHING ABOUT IT, it implies that, if this risk occurs (becomes a reality), the project will be doomed to FAILURE! An “accepted” risk is basically NOT TREATED, and if it occurs, it will have an IMPACT on the project result: either it makes it unfeasible, or it will have a significant impact on the COST, TERM or QUALITY of what is delivered. A properly done “Project Plan” WILL HAVE NO RISK ACCEPT!!! ACTIVE acceptance implies making a “Contingency Plan”, but this plan will not be included in the Schedule, Costs or Quality requirements!
• Transfer. Transferring the risk is seeking to shift the consequence of a risk to a third party for the best possible response.
  • Note: Take out insurance, transfer to be done by a team outside the project (and pay for it, outsourcing!)

Risks