Risk Management Closeout

At the completion of the project, there will be a transition of any open risks, and the capturing and harvesting of lessons learnt. These are important for future project maintenance and support. Additionally, this activity can assist in the management of future projects. Key activities that are to be undertaken during this phase include the following:

validating the closure of identified risks (i.e., ensuring that they have been closed appropriately);

for any open risks, assess whether there are ongoing operational/technical risks that warrant communication of these matters to other stakeholders.

documenting remaining open risks within an accessible final report;

producing final Risk Management metrics and evaluating the process effectiveness against established benchmarks; and

capturing risk factors and Risk Response Plans for inclusion in Risk Reference Models.

REF ID	Description of the Risk (Insert a short description of the risk)	Potential Impact of the Risk (Explain the impact of the risk in terms of safety, pricing/costs, schedule, technical, security, etc.)	Risk Level (VH/H/M/L/VL)	Risk Owner/s (RO/RCO)	Date Reported	Control/Contingency/Fallback Strategies (Provide a synopsis of the approaches that you are proposing to manage this risk. Remember that this approach must conform to the RMP framework.)	Due Date (For Plan/Action)
1	Netflix not providing rights to utilise OCA Equipment (see Note # 1 for more information)	EduStream will not have a video streaming server. As this is a core element of the system, this lack would have significant cost, schedule and technical impacts	H (15)	CIO/ EdMI PM, StreamTech PM	13/5/2024	Control: Continue negotiations and secure the utilisation of the OCAs. Offer resource sharing. Contingency: Deploy through Netflix and become a content provider (this has significant business & technical implications). Fallback: Utilise another video streaming engine (develop or reuse another COTS solution). This fallback could have a significant business/technical impact.	03/6/24 (See Note 2)
2	Planned client software tokens may not stop unauthorised usage of the system	Unless the token system can be made foolproof there is a high probability that security protocols can be breached, and unauthorised users will gain access to content. This will have significant cashflow, technical and security ramifications.	VH (25)	DemSet PM/ StreamTech PM, EdMI Security Advisor	8/10/24	Control: Investigate and implement 128b token solution including storage of tokens in the Client DB. Do extensive white hat hacker security testing. Contingency: Option up to a 256b token. Do extensive hacker security testing. Fallback: Option up to a 512b token and implement more rigorous multi-level security measures.	11/11/24 (See Note 3)
3	Inability to recruit appropriately skilled personnel to provide Level 2/3 Support	This means that we would only be able to deliver Level 1 support through the MBSD. Lack of this Level 2/3 service may make it difficult to resolve technical risks quickly. A shortfall of this nature could adversely impact on our ability to deploy a stable system and encourage corporate groups to engage. This will have significant cashflow and technical development implications	M (5)	CIO/ EdMI HR Manager	8/5/24	Control: Start the recruitment process early and engage the recruited staff member during project and document development, so they have time to understand the system intimately prior to deployment. To help ensure the right people are engaged, ensure that the monetary offering and conditions are competitive. Contingency: Engage StreamTech and DemSet on long term support contracts to provide the support. This would have to be a tight contract to control cost blowouts. Fallback: Headhunt a person with the appropriate skills from an employment agency.	1/7/24 (See Note 4)
Process and Methods
	Activities belonging in the critical path of operations get delayed due to poor resource management or unexpected requirements. Carlos	The delay of the critical path would imply a delay in the path of the project. Perth and subsequent nodes might not be ready on the expected day disappointing benefited stakeholders such as schools. We might as well loose trust on stakeholders with high power and influence. This will have significant schedule and cashflow impacts.	H (15)	Project Manager / CIO CEO	23/05/24	Control: Implement robust project management practices, including regular progress reviews, resource allocation assessments, anticipate and address potential delays. Contingency:We will reallocate resources and adjust timelines to minimize the impact of the risk on the overall project schedule. Fallback: A transparent communication with our stakeholders will be stablished to notify them about the delay and if required we will offer a respective compensation or benefit in the release of the project.	23/05/24
	Project Scope Creep - J
	Regulatory Changes - J
	Inadequate Testing - J
Security
	Users might find out a way to find loopholes in the service that would give them access to content that they are not supposed to access. Carlos	Students might be able to access to restricted content.Moreover, some users might have access to content that didn't pay to. This will impact the reputation of the company and the project.	L(3)	Project Manager / CIO CEO	23/05/24	Control: Regularly conduct thorough security audits and employ access control mechanisms to detect and prevent unauthorized access to restricted content. Contingency:We will prioritize updates that solve the breach. These updates will be notified with 5 days in advance to the users. Fallback: For educative institutions we will give the teachers the capacity to check what content has been accessed by which student. This will allow teachers to control risk this in class while we work to enhance our access control security.	23/05/24
Tech Systems (Client Application - OCA/Video Streaming - Web Front End - Client DataBase)
	The system is not substantial to handle peak times such as start of the year or exam periods, or too costly for standard operations. Mitch	Users having poor experiences using the system if the system is not able to handle peak times, resulting in a loss of subscriptions or a negative reputation. A wastage of money if the system is excessive during non peak times.	(M) 6	EdMI Technical Team.	1/7/2024	Control: Determine if the database service providers offer additional storage during periods for additional fees or part of the original contract. Contingency: Work with another pre-established content provider to help levitate traffic during peak periods Fallback: Notify users that there may be service issues during peak periods, or allow users to pre-download content.	27/9/2024
	The media format is not suitable or games cannot run on older devices. Mitch	Clients or organisations with older devices may have a negative experience or unable to use all aspects of the system they are paying for.	(M(6	EdMI Technical Team	31/08/2024	Control: perform research on the market to determine if how many users might be affected by the media type. Contingency: Fallback: Provide secondary conversion types that can be selected if there is any problems with the first media type.	1/04/2024
	Inadequate encryption of data in the databases - J	Unauthorized access to sensitive data, leading to data breaches and loss of trust from clients.	H(15)
HR-Stakeholder
	Not enough users sign up for the beta test on time or they do not engage with the platform fully Carlos	EduStream will not have enough users to test the streaming platform and therefore either many bugs might pass into the released version, or the latter will be delayed. As this is a condition required for a polished production versionthis will imply in cost, schedule and technical development impacts.	H (15)	Project Manager / CIO CEO	23/05/24	Control: Actively promote the beta test through multiple channels, offering incentives for participation and engagement, and ensuring a straightforward sign-up and feedback process beforehand. Contingency: We will create marketing campaigns offering additional benefits for accessing the beta testing program. Fallback:We will extend the beta testing period and employ additional recruitment methods, such as partnering with educational institutions	23/05/24
	Third-Party Vendor Failure - J
Finance - Cost
Political - Economical - Social - Technical
	Some students may not have the means to access the content. This will further the effect of Digital Divide. Mitch	Inequality of possibility of education among potential clients.	H(15)			Control: Ensure the best encoding practice is being used in order to reduce bandwidth needed to access content. Download links may also be provided ahead of time for download prior to use. Contingency: Produce content intended for teachers to use in aiding in teaching and not for individuals to use. Reducing the required devices and bandwidth required to teach with the content. Fallback: Maintain the old system of mail order content.
	Our educative material does not show or represent the ethnic, cultural and social diversity of Australia. In case we do so, this can be perceived as forced, unnatural and therefore with the solely purpose of profitability. Carlos	We could earn bad reputation and our clients might want to look for alternatives. Some families and institutions might even perceive our project as detrimental for children education. This will negatively impact in our cashflow and reputation.	M (5)	Content expert	23/05/24	Control: Ensure that our educative material authentically represents the ethnic, cultural, and social diversity of Australia by involving diverse educators, actors from the community. Contingency: We will engage with diverse community representatives to revise and improve our content accordingly. Fallback: We will partner with respected cultural and educational organizations to co-create content	23/05/24
Market
	Bad price point. Mitch	Loss of income if the price is too high and less people or organisations sign up for the system, or loss of income if the price is less than the population is willing to pay.	(M)5	Marketing Team	1/02/2025	Control: Do market research to determine how much similar systems cost and how much customers will be willing to pay. Contingency: Contact possible clients and ask directly how much they will be willing to pay for the service. Fallback: Provide discounts for organisations to sign on a large number of students and reduced cost for individual students who wish to use the system.	16/4/25
Client
	Our educative content is perceived as old fashioned, antiquated or unattractive. Carlos	As the final client loses interest in our service our sales will decrease over time. This will impact directly in the profitability and sustainability of the project.	M (9)	Content expert / EdMI Content producers	23/05/24	Control: Regularly update our educative content, incorporating modern educational approaches, while using engaging and entertaining multimedia. Contingency: We will immediately prioritize and accelerate the development of updated materials. Fallback:We will collaborate with expert educators and will get help from focus groups to ensure our material is suited for our targeted audience.	23/05/24
	Insufficient Training for End Users - J
Content
	Old content may be outdated or unappealing and be in need of updating. Mitch	Loss of subscribers due to inaccurate information or unengaging teaching methods. Finacial cost of looking into the content provided, determining if and how to upgrade and upgrading the content.	(3)L	EdMI Content Producers	1/03/2025	Control: Use the feedback from previous users and beta participants to determine what needs updating and the best course of action in updating the content. Contingency: Perform an inhouse analysis of available content and determine what needs improving. Fallback: Contant a third party to analyse the content that is currently provided by EdMI and the requirements of the target audiences for accuracy and engagement.	16/5/2025
	Content can be stolen by users and be distributed as piracy Carlos	If the content is stolen and published for free on the internet other individual clients might choose to watch our content for free. This would decrease our sales towards our individual clients. This risk would imply a relatively low-cost impact.	(3)L	DemSet Security Manager / ST Security Lead		Control: Protocols to protect our content must be enforced. Video capture and screenshots of our streaming content will be disabled. We will register our videos as intellectual property so that video platforms such as YouTube can detect and block unauthorised reuploads. Contingency: In the event that our content is stolen and distributed, we will promptly issue takedown requests to websites hosting the pirated content and pursue legal action if necessary. Fallback: We will offer exclusive, value-added content and incentives to our paying customers to retain their subscriptions.

NOTES: [Add your notes below. Autonumbering is used, so to add a new note, just press enter at the end of the note.]

At this stage, our team has assumed that EduStream can utilise OCAs, which may be provided for free or at low cost. However, negotiations with Netflix are ongoing and the use of this technology has not been finalised.

This needs to be done before we go out to tender, which is why the early date has been selected.

This date is late in the design and prototype phase, so we would test this carefully before making a decision, but also leave scope in the design to change it out if necessary, without making fundamental changes to the architecture.

This should kick off early engagement through recruitment.

Write obe-one points in every section. Add 1 point in Process and Methods, Security, Tech Systems (Client Application - OCA/Video Streaming - Web Front End - Client DataBase), HR-Stakeholder, Finance - Cost, Political - Economical - Social - Technical, Market, Client, Content,