REGISTER

No.	Rank	Risk description	Category	Root cause	Triggers	Potential responses	Risk owner	Impact	Status	Probability
R1	44	Negative risk: Project delay	Financial	Insufficient funding and unavailability of required resources	Planning and scheduling of project is not clearly defined and required resources are not available	Clearly define the plan, schedule and budget of project and monitor the regular progress of project	Project manager	Delay in project and scope objective	Need to address with project team	High
R2	67	Negative risk: Scope creep	Change	Scope changes due to requirement changes of stakeholders or market trends	Adding new features in short time and not communicate with stakeholders	Create clear scope statement and check regular status of project	Project manager	Budget overruns,enhance complexity and cost	Need to address with stakeholders	Medium
R3	12	Negative risk: Technical issue	Operational	Not properly perform the testing or inexperienced team having no knowledge of tools and system	Changes ands bugs in software and not properly upgrades and maintain the system	Prepare backup, recovery plan and reliable communication plan	Project team	Data may be lost or corrupted and delay in project	Need to address with technical team	Medium
R4	5	Positive risk: Early completion of project	Opportunity	Skilled ad professional team, clearly define goal and objectives of project	Required resource available, issue identified and resolved on time and meet project objectives	Ensure all team members are aware of project objectives and timeline assigned so work completed earlier if possible	Project manager	Free up resource for another project and minimize risk of delay in project	Closed	Low
R5	32	Positive risk: Stakeholders engagement	Opportunity	Good relationship between stakeholders and team members and transparent communication between stakeholders and team members	Stakeholder is highly supporting the team member	Ensure that provide regular updates on project to stakeholders and decision related to scope according to the stakeholders requirements	Project manager or Team members	High satisfaction of stakeholders and users and high-quality products and leads to project success	Open	Low
R6	55	Positive risk: Greater cost savings	Opportunity	Experienced team having good knowledge about the management of cost in project and follow budget plan defined before project start	Regularly monitor the budget used on project and use cost savings technology and techniques	Identify the cost saving strategies earlier before the project start and choose the cost-saving vendors	Project manager	Enhanced profitability and reputation and high-quality product or services and meet the needs of stakeholders and users	Open	Medium

R1: Because of project delay, the scope objectives might be affected which would leads to unsatisfied the stakeholders and users.

R2: Because of scope creep, there might be fluctuations in scope goals which would leads to incompletion of project and decreases the stakeholders satisfaction.

R3: Because of technical issues, the system might not be able to produce required outputs which would leads to corruption in data and enhanced the costs for removing the software errors and bugs.

R4: Because of early completion of project, there is extra time to test the quality to deliver high-quality products which would leads to satisfaction of stakeholder and gain trust of stakeholder.

R5: Because of stakeholder engagement, the project might be on track and able to achieve goals and objectives which would leads to a successful project.

R6: Because of greater cost savings, there might be great opportunity for other projects to use that free resources which would leads to increment in profit and reputation.

using above risk register plot the

1. Plot the six risks on a probability/impact matrix, Also assign a numeric value for the probability that a risk will occur and the impact of each risk on meeting the main project objectives. Use a scale of 1 to 10 to assign the values, with 1 representing the lowest value. For a simple risk factor calculation, multiply the probability score and the impact score. Add a column called Risk Score to your risk register to the right of the impact column. Enter the new data in the risk register. Write your rationale for how you determined the scores for one of the negative risks and one of the positive risks.