Risk Matrix
Financial Risks
F1. Customer Investment: Probability 5, Impact 5

Traffic Wizard cannot succeed if customers do not buy into it. This is highly dependent on marketing and will be mitigated with effective advertising.

F2. Hardware/Software Network Maintenance: Probability 3, Impact 4

Server infrastructure is subject to needing repairs and the network connecting drivers must be maintained. Since the foundation of the app lies in drivers' smartphones (as opposed to additional hardware), the probability of this decreases.

Customer Risks
C1. Product Interest: Probability 3, Impact 4

With so many products and competition in the market, customers will need to prefer this solution over others. This can be mitigated with effective marketing.

C2. Ease-of-use to Customer: Probability 2, Impact 1

Low cost, efficient, and easy installation of the product onto drivers' smartphones.

C3. Driver Distraction: Probability 4, Impact 4

Interaction with an app while driving is a high distraction risk. This will be counteracted with a minimalistic interface that assists the driver with little to no physical interaction with the device.

C4. Product Accessibility: Probability 2, Impact 3

Not every driver has a smartphone to access and download the app. The smartphone market has been well analyzed and is expected to grow immensely.

Technical Risks
T1. Communication Protocols: Probability 1, Impact 4

Communications between a device and the cloud are designed to occur within small time frames. Latency will negate the usefulness of traffic data. Traffic Wizard'Servers virtual checkpoint system will assist with efficient information exchange.

T2. Server Infrastrucure: Probability 3, Impact 5

The configuration and design of the server infrastructure must be able to compile and distribute data to connected drivers. The server will have to be efficiently scalable in design. Traffic Wizard is expected to hold the potential to connect with manufacturer telematics to assist with future scalability.

T3. Hardware Failure: Probability 2, Impact 3

The inevitable risk of technical issues due to hardware failure will be present in Traffic Wizard’s operations. Sensible upkeep and maintenance should prove to mitigate this factor.

Schedule Risks
S1. Database Design: Probability 2, Impact 5

Traffic Wizard's virtual checkpoint system will require initial (and recursively re-assessed) latitude and longitude assignments as virtual checkpoints in critical areas. This is necessary to act as the foundation for traffic analysis. Checkpoints will be able to be dynamically re-allocated as necessary.

S2. Application Development: Probability 2, Impact 4

Oversights in implementation and development can significantly delay progress of the app. Best practices in the software development process should help mitigate any issues in functionality.

S3. Prototype / Testing Phase: Probability 5, Impact 3

This phase is heavily dependent on the quality of execution of the product. Design issues must be resolved in this stage and the program must be proven to work. With an Alpha and Beta testing phase, an initial user base can be built along with initial patterning statistics from the checkpoints.