Posted: August 5th, 2015

Project Risk/Final Scenario.Problem/Opportunity;

Project Risk/Final Scenario.Problem/Opportunity;

Your company is a software development company.  Your project team has theorized that a new palm-computing device would be most marketable.  Senior management has reviewed the conceptual design and has given critical decision 1 approval to begin the planning for such a product.

This new palm device will do all the basic functions that the current palm device performs, such as schedule maintenance, database functions, calculations, etc.  The “new” area of palm computing that is envisioned for this device is in the area of human biofeedback.  This device will be able to monitoring human heart rate, respiration and blood sugar levels.  This new medical technology would eliminate the requirement of people “sticking” themselves to perform blood sugar readings.  This device would be non-obtrusive to the end user, yet a suitable alternative for blood sugar measurement.
Goal
Be the first to market with this exciting new technology while limiting or eliminating the company’s liability.
Directions
1.    Develop a Risk Register that includes the following minimum information:
a.    Identify a listing of potential risks given the above scenario, shall include at least one positive risk, total of, at a minimum, 10 identified risks
b.    Rank all the risks list developed in task “a” above, identify method used to perform the ranking
c.    Develop Risk Mitigation Strategies – For the top 3 risks identified in the risk listing develop one proactive risk mitigation strategy for each
d.    Develop a Contingency Strategy – For the top 3 risks identified in the risk listing develop one reactive contingency strategy for each
e.    Plot all identified Risk on a chart

Risk ID    Risk    Prob    Impact    Risk Score    Mitigation Action    Contingency plan
1
2
3
4
5
6
7
8
9
10