To create a probability$/$impact matrix, we first need to identify the risks associated with the case study project. Here are ten risks that have been identified:

Technical difficulties during implementation

Inadequate resources for the project

Schedule delays due to unforeseen circumstances

Lack of stakeholder engagement and support

Inadequate training for end$-$users

Data security breaches

Integration issues with existing systems

Inadequate budget for the project

Changes in project scope

Vendor management issues

Next, we will chart these risks on a probability$/$impact matrix:

Probability Low Impact Medium Impact High Impact

Low Probability $1,2,5$

Medium Probability $3,6,8,107$

High Probability $4,9$

Justification:

Low Probability and Low Impact: Risks such as inadequate resources or training for end$-$users have a low probability of occurring and a low impact on the project if they do occur.

Low Probability and Medium Impact: Risks such as changes in project scope or vendor management issues have a low probability of occurring but can have a medium impact on the project if they do occur.

Low Probability and High Impact: There are no risks in this category.

Medium Probability and Low Impact: There are no risks in this category.

Medium Probability and Medium Impact: Risks such as schedule delays, data security breaches, or budget issues have a medium probability of occurring and a medium impact on the project if they do occur.

Medium Probability and High Impact: Integration issues with existing systems have a medium probability of occurring and a high impact on the project if they do occur.

High Probability and Low Impact: There are no risks in this category.

High Probability and Medium Impact: Lack of stakeholder engagement and support has a high probability of occurring and a medium impact on the project if it does occur.

High Probability and High Impact: Changes in project scope have a high probability of occurring and a high impact on the project if they do occur.

Problem $4$:

There are several strategies to deal with negative project risks, including risk avoidance, risk reduction, risk sharing, and risk retention. Here are some of the negative risks identified in the case study project and the strategies to deal with them:

Technical difficulties during implementation: Risk avoidance can be achieved by selecting a proven technology that has been used in similar projects. Risk reduction can be achieved by allocating additional resources to the technical team to address any issues that may arise.

Inadequate resources for the project: Risk sharing can be achieved by partnering with a vendor who can provide additional resources if needed. Risk retention can be achieved by building a contingency plan that includes additional resources that can be deployed if necessary.

Schedule delays due to unforeseen circumstances: Risk reduction can be achieved by adding buffer time to the project schedule to account for unforeseen circumstances. Risk sharing can be achieved by partnering with a vendor who can provide additional resources to help get the project back on track.

Lack of stakeholder engagement and support: Risk reduction can be achieved by engaging stakeholders early and often in the project, providing regular updates, and addressing any concerns they may have. Risk sharing can be achieved by partnering with a vendor who has experience working with similar stakeholders and can help build support for the project.

Data security breaches: Risk reduction can be achieved by implementing robust security measures, such as encryption and multi$-$factor authentication. Risk sharing can be achieved by partnering with a vendor who has experience in data security and can provide additional resources to help protect the project.

Integration issues with existing systems: Risk reduction can be achieved by conducting thorough testing and validation before integrating the new system with existing systems. Risk sharing can be achieved by partnering with a vendor who has experience integrating similar systems and can provide additional resources to help with the integration.

Inadequate budget for the project: Risk reduction can be achieved by allocating additional resources to the project budget. Risk sharing can be achieved by partnering with a vendor who can provide additional resources at a lower cost.

Changes in project scope: Risk reduction can be achieved by defining the project scope clearly and obtaining sign$-$off from all stakeholders. Risk sharing can be achieved by partnering with a vendor who has experience managing changes in project scope and can provide additional resources to help manage any changes.

Vendor management issues: Risk reduction can be achieved by conducting thorough due diligence on potential vendors and selecting those with a proven track record. Risk sharing can be achieved by partn