Mariam Gambo

PROJECT IBUYPEDIA PROJECT MANAGER Mariam Gambo VERSION V1.2 RISK ID NO. RISK CLASS RISK DESCRIPTION IMPACT DESCRIPTION IMPACT LEVEL PROBABILITY LEVEL PRIORITY LEVEL MITIGATION STRATEGY ACTION OWNER Choose from the drop-down menu. give a brief summary of the risk. What will happen if the risk is not mitigated or eliminated? Rate 1 (LOW) to 5 (HIGH) Rate 1 (LOW) to 5 (HIGH) (IMPACT X PROBABILITY) Address the highest first. What can be done to lower or eliminate the impact or probability? Choose from the dropdown menu. Who's responsible? Given that there is 0 tolerance to budget, keep a close eye on project expenditures and negotiate for cost effective vendor rresources Avoid Project Manager Example 001 There is a chance that the project cost will exceed the amount that the company has budged for the work. We will not be able to secure funding necessary to complete the project. Work may stop before MVP has been achieved. Product may never get to market and be deemed a total failure. 5 1 5 RISK-001 Budget Cost overrun due to integration complexities Increased expenses may lead to budget exhaustion before completion. 4 3 12 Conduct a cost assessment and secure contingency funds. Mitigate Project Manager RISK-002 Timeline Delay in development due to unforeseen challenges Project completion may extend beyond the 8-week timeline. 5 4 20 Implement Agile sprints with buffer time for delays. Mitigate Scrum Master/BA RISK-003 Resources Technology-Risk-API integration with print-ondemand services fails Order fulfillment may not work, causing disruptions. 1 4 4 Conduct early feasibility tests and API trials. Mitigate Tech Lead RISK-004 Customer Poor UX affects customer retention Low engagement and revenue loss. 4 5 20 Conduct user testing and implement feedbackdriven improvements. Avoid UX Designer RISK-005 Compliance Non-compliance with payment security standards Potential legal issues and loss of customer trust. 5 5 25 Ensure PCI compliance and work with security auditors. Avoid Compliance RISK-006 Resources Supplier risk-Print-on-demand partners may face delays or supply issues Orders might not be fulfilled on time, causing customer dissatisfaction 4 3 12 Establish backup suppliers and set up clear SLAs Mitigate Operations/Manag er RISK-007 Solution Scalability Risk-Website may not handle high traffic during peak seasons Slow performance, cart abandonment, and revenue loss 5 3 15 Mitigate Tech Lead RISK-008 Resources Market CompetitionEstablished competitors may overshadow the platform Reduced market share and low visibility 4 4 16 Mitigate Marketing Lead Implement cloud scaling solutions (AWS, Azure) and load testing Focus on brand differentiation, marketing campaigns, and loyalty programs RISK-009 Resources RISK-010 Compliance Technology- Risk-Payment gateways may experience downtime or integration failure DATA-Risk-Customer data security breaches due to weak compliance Customers unable to complete purchases, leading to lost revenue 1 5 5 Set up alternative payment methods and alert monitoring Avoid Finance/Tech Loss of trust, legal penalties, and brand damage 1 5 5 Ensure GDPR/PCI-DSS compliance and conduct security audits Avoid Compliance