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IS480 Team wiki: 2018T1 analyteaka riskmanagement

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Analyteaka Risk Impact Assessment.png

The risk impact assessment requires the team members to consider the impact of each risk across the various project objective areas. Based on this potential impact, the risk is assigned to one of the 5 identified scales below. 

Project Objective Relative/Numerical Scales
Very Low / 0.05 Low / 0.10 Moderate / 0.20 High / 0.40 Very High / 0.80
Time Insignificant time increase < 5%-time increase 5% – 10%-time increase 10% - 20%-time increase >20% time increase
Scope Insignificant scope decrease Minor scoping areas affected Major scoping areas affected Scope reduction unacceptable to sponsor Project end item is effectively useless
Quality Insignificant quality degradation Only very demanding applications are affected Quality reduction requires sponsor approval Quality reduction unacceptable to sponsor Project end item is effectively useless
Analyteaka Risk Probability.png

By taking into consideration the estimated probability of occurrence as well as the potential impact from the risk impact assessment, a quantitative impact measure is obtained. Based on the team and clients risk threshold and appetite, the measures will be grouped and the appropriate action to be taken will be identified.

Impact /
Probability
Very Low Low Moderate High Very High
0.05 0.10 0.20 0.40 0.80
0.90 0.05 0.09 0.18 0.36 0.72
0.70 0.04 0.07 0.14 0.28 0.56
0.50 0.03 0.05 0.10 0.20 0.40
0.30 0.02 0.03 0.06 0.12 0.24
0.10 0.01 0.01 0.02 0.04 0.08

Risk responses involve a combination of the following activities: Avoiding, Mitigating and Accepting. Prior to the start of each phase of the project, all risks will be considered and preventive measures will be put in place as part of mitigation. Additional action will be taken in accordance to the descriptive bands that are detailed below.

Green (Conditional Management) – Green regions will involve continuing with the project as per normal. Acceptance will be the main response in this band, active steps will only be taken when indicators of the risk arising begin to present themselves.

Orange (Passive Management, Mitigating) – Yellow regions will involve continuing with the project with passive risk management. Mitigation will be the main response in this band. During each end of iteration review, we will take note of whether the risk is still a possible threat and given the circumstances at each checkpoint, we will decide whether to invoke contingency measures and subsequently, risk management measures.

Red (Active Management, Avoiding and Mitigating) – Red regions will involve continuing with the project with active risk management. Avoidance will be the main response in this band. Contingency measures will be set in place and during each end of iteration review, we will take note of whether the risk is still a possible threat and given the circumstances at each checkpoint, we will decide whether to directly invoke risk management measures

Analyteaka Risk Identified.png
S/N Risk Type Risk Detail Risk Mitigation Likelihood Impact Strategy
1 Technical Risk Majority of our team is not proficient in python, google app engine, flask and machine learning. Spent time going through bootcamp training for python and machine learning to build on our foundation. We will also take various modules such as visual analytics, AA, EWS and networking to build on our competency. High - 0.9 Very high - Potential delay in the schedule due to production delay. Active Management
2 Resource Management Risk Most of the team are not well-versed in analytics, which is the core feature of our system. As well as limited knowledge on consumer behavior and digital marketing. Spent time going through bootcamp training for analytics and consult professors on analytics. Also take courses related to digital marketing and consumer behavior. High - 0.9 High - Could affect our production timeline and analytics result. Active Management
3 Human Risk Potential schedule clash due to the different in class timetable. Additionally, FYP with internship concurrently means we could only work on our project at night and during the weekends. Project manager to better plan the schedule. Ensuring that everyone will have a common free slot for work (e.g 1 day block slot every week) Medium - 0.5 Moderate - Schedule need to be re-adjusted if there’s a delay in the execution of task. Passive Management
4 Client Management Risk Client unable to provide csv containing sensitive data (NRIC, name) due to privacy compliances Discuss with clients and capture what we need during bootstrap stage (e.g determine age, gender and race) and hash the values such that we can still analyze it without having access or storing the raw csv file. Medium - 0.3 Moderate - Would require a work around to analysis the data Passive Management
5 Client Management Risk Employees may not comfortable with using technology and figuring out how the application works. We will conduct adequate research into scenarios and personas, multiple rounds of prototyping with sufficient client feedback. Additionally, run through a tutorial during the first launch to highlight the importance of the features and use of the application. As well as getting the support of the upper management. Medium - 0.3 Low - Potential lack of adoption. Conditional Management
6 Human Risk Team members fall sick to the point(ie hospitalization). Always ensure that the wellbeing of the team members is preserved by encouraging healthy diet, exercise and work life balance. Additionally, conduct peer sharing sessions so that everyone is aware of what is being done by each other such that taking over will be easy in such situations. Low - 0.1 Very low - contribution to project is affected Conditional Management
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