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    Project Risk Analysis

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    BIKASH
    This document contains a risk log for Wilmont's Pharmacy Drone Project. It lists 8 key risks including risks that the design is not approved, costs exceed budget, and customer is unsatisfied with prototype. Each risk is assigned a priority level from 1 to 3, the responsible person, potential impact which is given a rating from 1 to 5, likelihood also 1 to 5, and proposed mitigation strategies and contingencies. The impact and likelihood ratings are multiplied to give an impact rating to assess the overall risk.

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    Project Risk Analysis

    Uploaded by

    BIKASH
    348 views2 pages
    This document contains a risk log for Wilmont's Pharmacy Drone Project. It lists 8 key risks including risks that the design is not approved, costs exceed budget, and customer is unsatisfied with prototype. Each risk is assigned a priority level from 1 to 3, the responsible person, potential impact which is given a rating from 1 to 5, likelihood also 1 to 5, and proposed mitigation strategies and contingencies. The impact and likelihood ratings are multiplied to give an impact rating to assess the overall risk.

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    This document contains a risk log for Wilmont's Pharmacy Drone Project. It lists 8 key risks including risks that the design is not approved, costs exceed budget, and customer is unsatisfied with prototype. Each risk is assigned a priority level from 1 to 3, the responsible person, potential impact which is given a rating from 1 to 5, likelihood also 1 to 5, and proposed mitigation strategies and contingencies. The impact and likelihood ratings are multiplied to give an impact rating to assess the overall risk.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    348 views2 pages

    Project Risk Analysis

    Uploaded by

    BIKASH
    This document contains a risk log for Wilmont's Pharmacy Drone Project. It lists 8 key risks including risks that the design is not approved, costs exceed budget, and customer is unsatisfied with prototype. Each risk is assigned a priority level from 1 to 3, the responsible person, potential impact which is given a rating from 1 to 5, likelihood also 1 to 5, and proposed mitigation strategies and contingencies. The impact and likelihood ratings are multiplied to give an impact rating to assess the overall risk.

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    Project Risk Log Template

    Wilmont's Pharmacy Drone Project


    th
    Rev:
    Risk00,
    ID Date: 15 Apr 2020
    Priority WBS Responsible Person Risk Description

    The design of the system is not


    1 2 1.2.1. William Holt
    approved by the customer

    The actual cost of the project


    2 1 1.2.2. Luis Villegas
    exceeds the agreed cost

    The customer is not satisfied with


    3 2 1.3.4. William Holt
    the prototype

    William Holt, Luis Design is not completed in a


    4 3 1.2.1.
    Villegas timely manner

    Delay in materials arriving, or


    5 2 1.3.1. William Holt
    materials unavailable

    William Holt, Luis Develop system takes longer than


    6 2 1.3.3.
    Villegas expected
    Tests find serious flight errors
    7 2 1.2.1; 1.4.1 Geral Hasper
    ondrones
    8 2 1.5.1. Luis Villegas Project is delayed due to weather
    Dates Analysis Impact

    Likelihood Prior to After


    Open Closed Impact Rating Severity Mitigation Strategy Contingency Status
    Rating Mitigation Mitigation

    Double check design. Have independent


    04.06.20 5 3 15 > 4 weeks delay < 1 weeks delay $5,000.00
    design review.

    Make an Earned Value Estimate.


    04.06.20 5 3 15 > 4 weeks delay < 1 week delay Request a budget forward. Reduce $6,000.00
    unnecessary expenses.
    Double check design. Have independent
    04.06.20 5 2 10 > 4 weeks delay < 1 weeks delay
    design review.
    Add schedule contingency in plan to
    04.06.20 3 1 3 > 1 weeks delay 1 day delay allow design to be complete. Add
    additional staff.
    Use expedited shipping. Confirm
    04.06.20 5 3 15 > 2 weeks delay 1 day delay availability with suppliers during design.
    Modify design if required.
    Add schedule contingency in plan to
    04.06.20 5 3 15 > 4 weeks delay < 1 week delay $5,000.00
    allow develop system.
    Double check design. Have independent
    04.06.20 5 1 5 > 4 weeks delay < 1 weeks delay
    design review.
    Add 2-3 extra days for weather. Add
    04.06.20 2 4 8 < 1 weeks delay 1 day delay
    cost for days off.

    Description

    Health, Safety and the


    Impact Rating Scale Cost Schedule Scope Quality
    Environment

    5 Very High >$10,000 > 4 weeks delay >20% time increase System will not operate Severe injury or fatality
    4 High <$8,000 > 2 weeks delay 10-20% time increase System will not meet specs major impact
    3 Moderate <$5,000 > 1 weeks delay 5-10% time increase Performance is reduced minor injury or impact
    2 Low <$3,000 < 1 weeks delay <5% time increase Some compensation is required insignificant impact
    1 Very Low <$500 1 day delay insignificant increase May require correction no impact

    Likelihood Rating Scale Description


    5 Nearly Certain >80% probability of occurring
    4 Likely 50-80% chance of occurring
    3 Possible 21-49% chance of occurring
    2 Unlikely 1-20% chance of occurring
    1 Rare <1% chance of occurring

    Likelihood Rating
    Severity
    1 2 3 4 5
    1 1 2 3 4 5

    Impact 2 2 4 6 8 10
    Rating 3 3 6 9 12 15
    4 4 8 12 16 20
    5 5 10 15 20 25
    Severity = Likelihood Rating x Impact Rating
    low
    moderate
    high

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