Risk Management Plan
Welcome to the risk assessment report for Future Factory Team Synergy This document serves as a comprehensive analysis of potential risks associated with the project, aiming to identify, evaluate, and prioritize these risks to facilitate informed decision-making and proactive risk management strategies. By thoroughly assessing the potential threats and opportunities, we aim to mitigate adverse impacts, enhance project resilience, and ultimately ensure the successful achievement of our objectives. This report outlines the methodology employed, the identified risks categorized by their nature and potential impact, as well as proposed risk mitigation measures and a framework for ongoing risk monitoring and management.
| Document | Risk Management Plan |
| Author: | Muneeb Ali |
| Version: | 1.0 |
| Date: | 12.02.2024 |
| RISK ID | Description | Severity | Probability | Responsible | Measure |
|---|---|---|---|---|---|
| RIS01 | Team member gets sick | S3 | 3 | Team member | Inform beforehand and in case it is severe infrom project manager/client |
| RIS02 | Resource constraints | S3 | 4 | team lead, ops | Regularly review resource allocation to ensure adequate manpower, time, and budget for project tasks, identify cost-cutting measures, and ask for more resources |
| RIS03 | Poor Communication | S3 | 3 | team lead, project manager | Establish clear communication channels and protocols within the team, schedule regular team meetings to discuss progress, issues, and encourage open communication and transparency within the team to prevent future breakdowns |
| RIS04 | Difficulties in compatibility between software versions | S3 | 4 | dev,test | through testing make sure the software is up to date and if needed negotiate with stakeholder for compatible software |
| RIS05 | Performance bottlenecks or scalability issues | S3 | 2 | dev,ops | Performance testing throughout the development cycle, optimization of code and infrastructure, communication with the client regarding performance goals |
| RIS06 | Testing Challenges | S2 | 3 | test | Comprehensive test planning, automation of testing processes where possible, and thorough regression testing to ensure all changes are properly tested across different environments |
| RIS07 | Changes in project requirements/objectives | S3 | 4 | project manager | Perform impact analysis, consult with stakeholders to clarify requirements, and modify project plans as necessary |
| RIS08 | Dependency Risks | S2 | 3 | team lead,ops | Identification, tracking and documentation of dependencies, proactive management of dependencies, and contingency planning for any potential delays caused by dependencies |
| RIS09 | Security Vulnerabilities | S2 | 4 | sec | Activate incident response plan, investigate and mitigate the breach. Implementation of security best practices, regular security audits, and penetration testing, and immediate patching of any identified vulnerabilities |
| RIS10 | Scope creep | S3 | 4 | project manager | Strict scope management, regular stakeholder communication, and documentation of any scope changes with proper approval processes in place. |
| RIS11 | Administrators of services out sick | S3 | 2 | project manager | In case of sickness or other situations where administrators are unavaliable, Niko Satejeff have also been granted admin access to CSC Frontend and Backend servers. |
Severity descriptions
The severity class should be defined according to the project
| Severity class | Description | Other |
|---|---|---|
| S1 | Force Major - Total show stopper | |
| S2 | Project progress is affected significantly | |
| S3 | Modest impact that is easily managed | |
| S4 | Minimal influence, insignificant disruption | |
| S5 | No immediate affect, to be observed later |
Probability descriptions
The following table shows the probabilty against a number
| Probability | Number |
|---|---|
| Very high probability | 1 |
| high probability | 2 |
| medium probability | 3 |
| low probability | 4 |
| very low probability | 5 |