.: Project risks

This page is dedicated to study of the potential risks of our project. Here we will outline the risks that have been identified by our team. We will analyze these risks based on thier liklihood and the impact they can potentiall have on the success of our project. We will also outline our plan for managing these risks should they become a reality.

.: Risk matrix

1. Identify the risk.
2. Identify the phase that the risk is in.
3. Enter the risk into our team’s risk management plan.
4. Determine the risk’s probability of occurring and the severity to the project if the risk occurs.
5. Enter the risk probability and severity.
6. Determine a strategy for managing the risk from the Risk Management Strategy section.
7. Mitigate or otherwise deal with the risk.
8. Track the risk.

1. Acceptance – If this strategy is chosen, we simple simply accept the consequence of a risk if it does occur. This strategy will be chosen if the cost to deal with the risk is greater than the cost of the risk occurring. This will also be the default strategy for any risk that occurs that we have not identified.
2. Avoidance – If this strategy is chosen, we will take steps to avoid the risk what-so-ever. So if there is a risk with a chosen OS, then we may decide just switch to an OS that doesn’t have that risk characteristic.
3. Transference – If this strategy is chosen, we will transfer the risk to a third party. This is the strategy that we have chosen for designing the main board of our prototype.
4. Mitigation – If this strategy is chosen, we will take steps to decrease either the severity of the risk and/ or the probability that the risk will occur. We can accomplish this by making contingency plans.

For a more detailed explination of how we will deal with specific risks,
take a look at our risk management plan located here.