Question
Sophie has gathered her project team together to plan for possible risks. She calls the meeting to order. I've called the meeting today so that
Sophie has gathered her project team together to plan for possible risks. She calls the meeting to order.
"I've called the meeting today so that we, as a team, can plan for what could go wrong during the DecoCam V4 Product Launch project. We've had a lot of problems on other projects recently. I think if we put some additional focus on risk management, we can reduce the number of problems for this project."
Fatehjit, the team's Business Analyst, leans forward in his chair. "I hear you, Sophie, but many things that have happened in the past were outside of our control. What could we do about it anyways?"
"Fair enough, Fatehjit," Sophie replies. "But even for these issues, it would be useful for us to have a backup plan. And I bet there are many potential problems that are well within our controlwe want to prevent them from ever happening."
Sophie then hands out a few blank cards to each team member. She asks each person to write down as many potential problems as they can. While the team may be tempted to eliminate ideas, it is best to allow for an open flow of ideas and not filter anything at this point. Within a few minutes, a number of completed cards are scattered across the table.
Sophie writes each risk on the whiteboard:
1. Team member leaves the project.
2. Written materials contain errors.
3. Product launch is moved to an earlier date.
4. New requirements are received.
5. Trade show material costs are higher than expected.
6. Delivery of trade show materials is delayed.
7. The promotional video is late.
8. Promotional video's language translations are incorrect.
9. Social media posts attract inappropriate replies.
10. Multimedia demo causes disorientation to customers.
Sophie and the project team proceed to discuss and plan for each risk in detail. This includes creating a longer description of each risk, as well as selecting the probability factor and impact factor of each risk. Then they calculate the risk score for each risk and put them in order from the highest score to the lowest"
Create a RISK REGISTER based on the informtaion provided above. (DecoCam Project)
Note: You can use the attached Risk Register Template for your assignment.
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