Project risks Any project, no matter how well-planned and organized, comes with a certain degree of risk. Risks can range from a supplier being late with a delivery to factors such as a natural disaster affecting the project site. While some risks are impossible to predict or control, there are steps that project managers can take to identify and manage risks. By understanding the different types of risks and implementing risk management strategies, projects can be better equipped to deal with the challenges that risk presents. In the Short-Range Ground-Based Air Defence, the Army seeks to enhance its Ground-Based Force protection system. The Army seeks to enhance its defence capabilities by acquiring two NASAM batteries in addition to subsystems. These enhancements will allow it to defend specied areas against airborne threats. The project will involve working with international partners to develop and test the systems. This will involve importing components from partner countries against the backdrop of the Covid - 19 pandemic restrictions. According to the Project Management Institute (2017), having effective risk management practices will lead to increased chances of success. This is because unmanaged risks may deviate from the project objectives. Moreover, having effective risk management practices will allow for the continuous improvement and monitoring of strategies. Larson and Gray (2014) identify risk identification as the first step in the risk management process. Several risks were identified in the Short Range Defence Project. Primarily, the risks involved in the project would mainly affect the schedule performance. Project risks and Impacts Risks in the project can be categorized according to potential sources (PMI, 2017). Several technical risks are associated with Short-Range Ground Based Air Defence. Using the McKinsey 7-S framework, the project has several risks. The First element of strategy could affect the project in the form of an unclear, poorly defined strategy. This can lead to the project being vague about its objectives and goals and how it plans to achieve them, making it difficult to identify and manage risks effectively. Besides, a poorly defined strategy could lead to scope creep. Scope creep is when the project's original goals change and expand. This can happen for various reasons, but often it is because the project team has failed to define the project scope at the beginning leading to the project taking longer and costing more than originally planned. It can also cause tension and conflict within the team as different members try to push for their own goals and objectives. The second element is structure. The risk here is that the project is not organised effectively. This can make it difficult to communicate and coordinate activities between different parts of the project leading to delays and problems with the project. The project could have a poorly designed or implemented process. This can lead to wasted resources and frustration among team members. Stakeholders in the project, such as the Army, may also fail to be engaged effectively, leading to poor deliverables quality. Raytheon could fail to conduct some critical activities in the project, such as some integration activities. The third element is systems. In the Defence project, there may be a lack of effective systems. This can make it difficult to monitor and control the project. The short-Range Defence Project is a government project which makes it subject to bureaucracy. Bureaucracy is a necessary evil in government projects. It ensures that projects are completed efficiently and effectively, but it can also be the source of delays and frustration. Because there are so many layers of bureaucracy, each with its own rules and procedures, it can take a long time for a project to make its way through the system due to difficulty in getting the approvals and sign-offs needed to move forward with a project. This can lead to delays and frustration among the team members. Finally, bureaucracy can lead to a feeling of powerlessness in project management. Because the bureaucracy is often opaque and difficult to navigate, it can be hard to know whom to go to for help or how to get things doneThe fourth element is shared values. The risk here is that the project does not have a strong sense of shared values. Since the project requires cooperation between the Army and the Raytheon team, they may lack shared values. This can make it difficult for team members to work together effectively, leading to conict and problems with the project. The fifth element is style. The risk here is that the project does not have a consistent style. This can make it difficult to create a cohesive look and feel for the project. This can lead to the project appearing disjointed and unprofessional. The sixth element is the staff. The risk here is that the project does not have the right staff in place, making it difficult to deliver the project on time and within budget. Lack of the right staff can also lead to problems with project quality. The seventh element is skills. The risk here is that the project does not have the right skills in place. Additionally, the project requires integrating complex systems such as sensors to detect threats. Moreover, the project aims to address obsolescence in its systems by conducting system integration. Consequently, lacking technical expertise makes troubleshooting problems difficult or identifying potential improvements. Insufficient testing can mean problems only become apparent aer a project is completed, leading to expensive and time-consruning repairs. Poorly written or incorrect code can cause issues, from system crashes to security vulnerabilities. Security vulnerabilities Incompatible or outdated software or hardware can also cause problems, as can a poorly designed user interface. These risks can lead to significant delays and cost overruns as the project management attempts to rework the project. Finally, due to Covid-l9 restrictions, the project is at risk of failing to meet project milestones. Due to export restrictions, Raytheon Technologies will have difficulty conducting integration and test activities. This could result in technical faults during acceptance testing. Consequently, the project would have to vary its schedule, translating to increased costs. Moreover, due to the constrained timeline, the project may fail to conduct some activities properly, such as integration. This would increase the probability of technical faults. Mc-Kinsey 7s Framework Strategy 0 Lack of clearly defined strategy Structure - Poorly developed structure Systems 0 Bureaucracy Shared Values 0 Lack of shared values leading to uniting factors Style 0 Inconsistent style Staff - Lacks the right staff in place Skills 0 Lacks the right skills to execute the project Risk Probability and Impact (P&|) Matrix Managing project risk is important to ensure the project risk are successfully managed. A qualitative risk assessment determines the impacts and prioritisation of risk on a project. The project team is responsible to ensure that a qualitative risk assessment is implemented and kept updated with the progress of the project. The risk analysis will give the project team a priority to manage the project risk from highest to lowest risk throughout the project delivery. The risk analysis will also determine the risk tolerance levels, that exclusively related to t project constraints of scope, time, cost and quality. A baseline qualitative risk analysis process will set an base forthe project then manage the risk. However, the risk analyse should be hanged and updated when additional risk are identified or revised when project change occurs. Simply completing an qualitative risk Analyse process and evaluating the impacts and probability ofthe project risk. The performed Qualitative risk analysis will include the following tools & techniques: - Risk probability and impact matrix - Risk probability and impact analyse - Data quality assessment and records - Categorising project risk - Prioritising project risk for management - Quality update and assessment of project risk