Summarize the most apparent risks associated with the project. Risks are defined as $$any event which may adversely affect the ability of the solution to produce the required deliverables$.$ Risks may be Strategic, Environmental, Financial, Operational, Technical, Industrial, Competitive or Customer related. Complete the following table:

Description Probability $(1-99\%)$ Impact

$(1-10)$ Mitigating Actions

Inability to recruit skilled resource Low

Very High Outsource project to a company with proven industry experience and appropriately skilled staff

Technology solution is unable to deliver required results Medium High Complete a pilot project to prove the full technology solution

Additional capital expenditure may be required in addition to that approved Medium Medium Maintain strict capital expenditure processes during the projectA Regulation Change

Banking regulations require bank employees to complete training regarding appropriate use of social

media accounts. At Saint Louis University Bank, this training is owned by HR and deployed with annual

required training. In $2021,$ in anticipation of an upcoming regulation change, HR began work to replace

the current vendor$-$provided course. Soon after, the regulation was delayed and the bank shelved the

project.

Recently and unexpectedly, a similar regulation resurfaced and was approved, effective January $1,2022.$

Prior to the change, all employees were required to complete $1$ hour of training annually. As of $2022,$

some employees may satisfy their requirement with a $20-$minute course. In $2021,$ compliance indicated

that $30\%$ of employees were eligible for the shortened course per the regulation proposed at that time.

In response to the new regulation, your division manager recommissioned a project to replace the

existing course for eligible employees. Your direct leader is the Business Leader and you are the Project

Manager.