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Risk Matrix

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Risk Matrix

Project Name: EOLM Project, NearlyFree.com

Risk

# |Risk |Probability |Importance |Impact |Response to Risk |Action Plan |Person Responsible |Status | |01 |Reprogramming overruns will delay the project from meeting its target release. |Medium |High | |Mitigate |During the unit testing, thoroughly test each module to ensure each section is complete. |Project Manager and Alice Yee (Software Specialist) |
Open/Working | |02 |Insufficient talent or reliability, the project will be set back a great deal. |Low |High | |Avoid |Weekly status reports to IT program manager with weekly one on one session. |Project Manager and Project Sponsor |
Open/Working | |03 |The tight time frame could be substantially thrown off with additional programming and testing needed to accommodate added tasks. |High |High | |Mitigate |Weekly status reports to PM to ensure all tasks are on track to begin testing. |Project Manager and Project Sponsor |
Open/Working | |04 |Business requirements not fully defined and approved |Medium |High | |Mitigate |Work with business to define all business and system requirements early in project to system design. |Team One PM |
Open/Working | |05 |Project Manager has limited project management experience |Medium |Medium | |Accept |Weekly status reports to IT program manager with weekly one on one session. |Team One PM |
Open/Working | |06 |Project budget ($25,000) and project duration (120 days) was proposed prior to project scope definition and completed requirements gathering. |Medium |High | |Mitigate |Work with project team to develop detailed project schedule and requirements early in project to develop new time and budget estimates. |Team One PM |
Open/Working | |07 |Technical approvals behind schedule |Low |Medium | |Avoid |Ensure development phases are complete to be ready for the technical approval phase.

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