Question $3$: You are leading a software development project for a new mobile application that

aims to revolutionize the way users manage their personal finances. The application will allow

users to track expenses, create budgets, and set financial goals, with a user$-$friendly interface

accessible across multiple devices. The project has a tight deadline due to market demand and

investor expectations, and it involves complex technical requirements such as real$-$time

synchronization, data encryption, and integration with third$-$party financial institutions.

Identify three potential risks specific to this IT project and develop a contingency plan for each

risk. Show your results in the form of a Risk Response Matrix which was discussed in the

lecture today.