RISK MANAGEMENT
In planning the project, certain risks have been identified which may have an adverse effect on the development of the project. These risks are listed in the table below. The risks were also evaluated using different criteria such as the probability of the risk occurring, the effects of the risk, what the risk affects, the type of strategy that may be employed to deal with the risk, and the strategy itself for dealing with the risk. It should be noted that the different criteria are categorized as follows.
- Probability – Low, Medium, High
- Effects – Tolerable, Moderate, Serious Catastrophic
- Affects – Project, Product, Business
- Strategy Category – Avoidance, Minimization, Contingency
