Risk Management Plan

System Name
CS690
Author(s)
Roja Boina
Date

8/30/2016

Table of Contents
1

INTRODUCTION ..3

BACKGROUND 3

RISKS .....3

PREVENTION & CONTINGENCY PLANS 4

RISK ASSESSMENT....4

REVISION HISTORY .. 5

1 INTRODUCTION
The purpose of this document is to describe potential risks associated with a
project, the likelihood of the risks, the impact of the risks and a contingency plan for
them.
This plan will identify, assess and prioritize risks.
Select appropriate controls or countermeasures to measure each risk.
Risk mitigation needs to be approved by the appropriate level of management. For
instance, a risk concerning the image of the organization should have top
management decision behind it whereas IT management would have the authority to
decide on computer virus risks.
The risk management plan should propose applicable and effective security controls
for managing the risks. For example, an observed high risk of computer viruses
could be mitigated by acquiring and implementing antivirus software. A good risk
management plan should contain a schedule for control implementation and
responsible persons for those actions.
2 BACKGROUND
This project team has been tasked to design a web-based online system that allows
users to easily access books and reduce manual effort of borrowing and checking
for books.
The project team will acquire the hardware and software applications necessary to
design a web based online reservation system for our customer. The reservation
system will allow our customer to borrow, search books, reserve books, place order
for books check availability online instead of manually performing all these tasks.

RISK
IDENTIFICATION

PREVENTION &
CONTINGENCY

RISK ASSESSMENT
(PROPABILITY and
PRIORITY)

Loss of data

Back up data for every High

two weeks

Hard ware & operating

environment failure

Invest in good quality

hardware and good
operating system
which is flexible to
work.

Medium

Design and
implementation

Keep it simple to
implement

Low

Schedule slip

May required
more time to
complete
assigned tasks
than scheduled

Medium

3 RISKS (risk identification)

Loss of data
Data may be lost after some time which is a great loss, since loss of
data makes everything inaccessible.

Hardware & Operating system failure

Loss of hardware and software can lead to slow down of the
application and may crash the application too.

Designing and implementation:

Designing may be tough due to coding standards and implementation
may be difficult.

Schedule Slip:
May required more time to complete assigned tasks than scheduled

4 PREVENTION & CONTINGENCY PLANS

Loss of data
Get data backed up for every two to three weeks.

Hardware and operating system failure

Buy good quality hardware
Buy good quality software which is easy to maintain and operate and
flexible to work.

Hardware / Software Configuration

Hardware and software support will be ordered when the equipment is
purchased to allow a quick exchange broken hardware and to allow
hardware and software configuration issues to be resolved quickly

Design and implantation:

- Make the design and implementation as simple as possible.

Schedule Slip
Weekly meeting will be held to discuss problems, and to provide status
Encourage overtime, borrow staff from other project groups for
additional manning,

5 RISK ASSESSMENT (and prioritizing)

Risk:

Potential risks

Probability:

Likelihood of the risk materializing (0.0 1.0)

Priority:

Level of Concern (1 10)

Impact:

The number of days the project timeline would be affected

Schedule Exposure: impact * probability

Cost Exposure:

The total number of dollars needed to absorb the risk

(impact * average labor cost per unit time + materials)

6 REVISION HISTORY
Date
9/2/2016

Name
1

Changes
edited the tables present.