Final Project Report

Sheet1

			L	M	H
		100
		90																																				H
		80																																				M
		70																																				L
		60
		50
		40
		30
		20
		10
Number	Risk Name	Full Risk Cost	Risk Probability	Factored Risk cost	Risk Impact to Project	Risk Mitigation Plan	Point of Contact	Expected Risk Retire date
1	Lack of top management commitment to the project	$20,000	20%	$4,000	L	Proper communication plan, Regular contact with stakeholders.	Management	09/01/16
2	Misunderstanding of the requirements	$30,000	12%	$3,600	H	Clear documentation of the requirements,, Involving all users in requirement gathering	Management	09/01/16
3	Not managing change properly	$12,000	10%	$1,200	M	Avoid risk by Proper change management	Change Management	09/01/16
4	Failure to gain user commitment	$23,000	20%	$4,600	M	Good communication and reporting	Communication Officer	09/01/16
5	Lack of effective project management skill	$1,600	10%	$160	M	Employing expert project manager, outsourcing the project management or outsourcing the recruitment process.	Management	09/01/16
6	Insufficient Finance	$34,000	20%	$6,800	L	Dealing with the project by modifying the scope creep	Management	03/01/17
7	Insufficient communication	$13,000	10%	$1,300	L	Improved communication and stakeholder involvement	Project Officer	03/01/17
8	Poor Stakeholder engagement	$12,000	10%	$1,200	M	Improved communication and stakeholder involvement	Project Officer	03/01/17
9	Failure to understand the customer value	$11,000	8%	$880	H	Risk avoidance	Project Officer	03/01/17
10	Sticking to old ways and refusing change	$10,000	6%	$600	H	Training and understanding of the importance of the project.	Project Officer	09/01/16

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Sheet2

Sheet3