Part 1 Suppose Cambrian College is considering a project to develop an information system that would allow all faculty, employees, students, and suppliers/external customers to access and maintain their own human resources information, such as address, marital status, and tax information. The main benefits of the system would be a reduction in human resources personnel and more accurate information. For example, if a faculty, employee, student, or customer had a new telephone number or e-mail address, he or she would be responsible for entering the data in the new system. The new system would also allow employees to change their tax withholdings or pension plan contributions. Identify five potential risks for this new project and be sure to list some negative and positive risks. Provide a detailed description of each risk and propose strategies for addressing each risk. Document your results in a risk register below.

\fSoftware A Software B One -Time License Fees $50,000 $40,000 Probability of Success 70% 75% Impact of Success $50,000 $75,000 Probability of Failure 30% 25% Impact of Failure (loss) $80,000 $50,000