RISK MATRIX Likelihood Consequence Insignificant Minor Moderate Major Severe Almost Medium High Extreme Extreme Extreme Certain Likely Medium Medium High Extreme Extreme Possible Low Medium Medium High Extreme Unlikely Low Low Medium Medium High Rare Low Low Low Medium Medium Consequence - Evaluation of the project constraints. Selection o the highest consequence level of the 4 constraints. Descriptor Level Timing Cost Impacts Quality Scope Impacts impacts Insignificant +10%but >+10%but +20% but >+20% but 50% >50% Project is totally non-conformity Project needs to Likelihood - When an event occurs the outcome Descriptor Level Definition Rare May occur somewhere, sometime ("once in a life time / once in a hundred years") Unlikely 2 May occur somewhere within the workplace over an extended period of time Possible 3 May occur several times across the workplace or a region over a period of time Likely 4 May be anticipated multiple times over a period of time. May occur once every few repetitions of the act Almost Certain 5 Prone to occur regularly It is anticipated for each repetition of the activity of event Qualitative Risk Analysis Project Title: SHORT RANGE GROUNDProject Description: LAND 19 Phase 7B Short Range Ground Based Air Defence (SRGBAD) Project Date and time 13/11/2022 Project Risk Identification Table dentify the hazard Assess the risk Control Project Project risk Project Risk Description Consequence Likelihood Risk Level Action Plan Risk ID Category Lack of clearly defined Possible High Clear management plans and strategy guidelines to implement into t project process. Quality assu 01 Strategy Major reviews and approval process each guideline implemented the project. Poorly developed Possible High Experienced project director develop project structure. Qu 02 Structure structure Major assurance plan to be followed ensure quality into project str Bureaucracy Unlikely Medium Experience and competent assigned work tasks deliverin 03 Systems Moderate works. Available to material to project team members to ens the Lack of shared values Possible Medium Develop a SharePoint and document sharing position. P 04 Share leading to uniting factors Moderate management plan to detail Values management of document co and collab of documentation. 05 Style Inconsistent style Minor Likely Medium Management plan and guide standardise data Lacks the right staff in Unlikely Low Advertise the project and bus where appropriate. Advertise 06 Staff place Minor adverts to the open public an internal staff for the project. Lacks the right skills to Rare Medium Continua personnel developm execute the project supplied to project team and 07 Skills Major personnel. Strong recruitmen to catch the attention of as m individuals as possible.1. Risk communication strategy Risk communication strategy is developed for the project so that key stakeholders can get engaged, interacted and coordinated for analyzing risks, provide mitigation strategies, and monitor the results. Through risk communication strategy, the key stakeholders would find the communication medium, framework, timeline and approaches (.Tarrad, 2019). It would provide them the roadmap of coordination and collaboration to resolve the issues of proj ect. The following three steps would be taken to develop risk communication strategy dene understand connect Key stakeholders In the current case project Short-Range Ground-Based Air Defense, the key stakeholders involved in communication and interaction are project manager, project team, testers, developers of the system, subcontractors working of system implementation, workers in army, capability manager, and authorities in government. Communication goals The main goals of developing and implementing the communication framework is to engage the identied key stakeholders for proper coordination and collaboration so that the identied risks in project SRGBAD can be minimized. In the project case, the power interest gird is developed to analyze the high and low power inuence on the project so that the communication strategy and prioritization of each stakeholder in it can be created (Ng & Hamby, 2014). The below table shows the power interest grid: High power-high interest Capability manager (chief army), project manager and higher authorities of the company would have high inuence and high interest in the project so it is signicant to keep them close for handling expectations. High power- low interest Government authorities have the high power in the project as they would regulate the integration and testing process of the project but would have 10 interest. Government authorities can user their power to control any negative impact Risk communication strategies The following strategies are developed in risk communication: Low powe r-low interest Workers of the almy have low power and lower interest because they would manage and perform the activities on the project product. low power-high interest Project team, testers, developers, and sub- contractors in the project have high interest by taking directions and guidelines from the project manager. 0 The rst and foremost step in risk communication is involving the team of project SRGBAD in analyzing the requirements and building expectations. The project team would be encouraged to share the ideas and feedback on the identied risks. They are given opportunity to share their thoughts so that more risks in project can be identified. Through online team meetings, email and online video conferencing, the team involvement and participation can be ensured Reed & Knight, 2010). In the project SRGBAD, many subcontractors are not in the same country. Many subcontractor and board of directors can be in different cities and even in different countries so it is very important for project manager to consider the location. The location is considered by developing the collaboration platform or single online collaboration tool that would allow stakeholders to join and participate in risk management plan (Smillie & Blissett, 2010). Through the online platform, the remote members of the project team would get the risk assessment reports, documentation, mitigation strategies and provide feedback on the issue. Another important strategy is utilization of risk analysis technology that has the capability o perform a schedule risk analysis. It would help the project manager and tester to identify the high risk areas in the project. It would also provide high value information prioritizing the reports of the top risks likely to delay our project. It would allow us to accurately determine the end date crucial stakeholder expectations. After analyzing and implementing the stakeholder communication strategies, the next step is reporting the common issues coming during risk mitigation process. Reporting and sending high alert notification to respective stakeholder would provide proper monitoring and controlling of the project risk. Through regular reports by respective stakeholder, the common issues, potential problems with interactive links and analysis can be submitted. Project manager would set up the alerts for potential risks and reach retroactively by information the individuals and stakeholders that needs to understand. Another important strategy in risk communication is forming or designing the risk message. The accurate and simple risk message must be developed by project manager that would include risk summary and overview of helping the target audience to understand the potential hazards. In the given case project, the risk summary is defined and communicated so that key stakeholders understand it easily. After that, the main hazards associated with it should be communicated during team meetings and email messaging. References Jarrad, G. (2019). How to Communicate Risk to Project Stakeholders. Safran.com. https://www.safran.com/blog/how-to-communicate-risk-to-project-stakeholders Ng, K. L., & Hamby, D. M. (2014). Fundamentals for Establishing a Risk Communication Program. Health Physics, 73(3), 473 482. https://doi.org/10.1097/00004032-199709000- 00005 Reed, A. H., & Knight, L. V. (2010). Effect of a virtual project team environment on communication-related project risk. International Journal of Project Management, 28(5), 422-427. https://doi.org/10.1016/j.ijproman.2009.08.002 Smillie, L., & Blissett, A. (2010). A model for developing risk communication strategy. Journal of Risk Research, 13(1), 115-134. https://doi.org/10.1080/13669870903503655