Question: Medidata Inc has identified three risk opportunities for their new
Medidata Inc. has identified three risk opportunities for their new medical database project. One is an opportunity to extend the database to include doctors as well as hospitals. This has a probability of a 3 and an impact on their profitability of a 3 on a 1–5 scale, where higher numbers are greater values of probability and profitability. Another is the opportunity to extend the database to other countries, particularly in Europe. For this, the probability is ranked only a 2 but the profitability impact is considered to be 4 but to the higher social interest by European governments. Last, they might be able to interest nonusers such as pharmaceutical firms in using, or perhaps buying, their data. Here the probability is more certain, a 4, but the profitability would be only a 2. Construct an opportunity risk matrix, identify the “critical,” “monitor,” and “ignore” opportunities, and recommend risk responses for each opportunity.
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