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This risk management plan outlines various risks associated with the cs411 project, including loss of key personnel, market change, beat to market, gps link failure, hardware failure, government specifications, solution too expensive, and solution too complicated. The document also proposes potential mitigation strategies for each risk.
Typology: Study notes
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General Risks Loss of key personnel o This has the highest probability to occur for Phase 1 (CS411). With the new semester and two offerings of CS411 the chances are high that one of the members will not continue on with this project. If this does occur the lost person can be replaced with someone else of similar skill This risk cannot be mitigated Market Change o There is research being conducted to automate Hydrographic Reconnaissance with little success. If an automated procedure/product is created that replaces the need for human interface, our product will become obsolete. We feel this has a low probability of occurrence. We cannot stop research from continuing Beat to Market o The current system of the lead line and slate technique has been used since World War II. There are currently products that offer similar services, except that the current devices are not swimmable and are not covertly designed. If we are beat to market, it would be detrimental to our project. However, we feel that information pertaining to our specific market is not common knowledge as the current solution has remained unchanged for more than 50 yeats. Therefore, we feel that the chance of occurrence is low. Technical Risk GPS Link Failure o While using the device the ABSS may lose its GPS signal due to poor overhead coverage or the product going under water. There is a medium probability that this will occur. If this does occur, the user will have to wait until a signal is re-attained before continuing. While this cannot be avoided, as a feature on the ABSS, an internal LED will notify the user of the signal strength. Hardware Failure o Our electronic device will be replacing an analog device and there is risk when electronics are in close proximity to water. If there is a hardware failure, the device will be inoperable and will have to be brought in for repair. The chance of this occurring is low.
Mitigation – The hardware will be thoroughly tested to minimize the chance of hardware failure. Also the device will be thoroughly tested for water tight integrity. Government Specifications o The government may require the equipment to follow and comply with certain specifications. We feel that the probability of this occurring is high. If this does occur and we have not properly prepared in advance for these specifications, the entire product may have to be redesigned. Mitigation Prior to the design phase we will approach the government and ask for the specifications. Solution Too Expensive
o Our current price per device is $3000. The current solution’s price is minimal (lead line and slate). Our customers initially might not be willing to spend that amount for our device. We fell the chance of this occurring is medium. Mitigation The ease of use, accuracy and time saving abilities of the device will mitigate the risk Solution Too Complicated o The interface of the device must be simple enough to allow “non- computer people” to use the device. If the device is too complicated, the user will revert back to the old system. The probability of this occurring is low. If this does occur, the confidence in our product will be lost and the consumers will not purchase any more devices. Mitigation - Design the device around the domain expert’s specifications to minimize the interface complication