Id Description of Risk Impact on Project (Identification of consequences) L S G Change Date of Review Mitigation Actions (Preventative or Contingency) Individual/ Group responsible for mitigation action(s) Cost Timeline for mitigation action(s) WBS <n> <A “newspaper headline” style statement. Also identify relevant triggers that may cause the risk to be realised.> <Describe the nature of the risk and the impact on the project if the risk is not mitigated or managed> <Change in Grade since last review> <Date of last review> <Specify planned mitigation strategies: Preventative (implement immediately); Contingency (implement if/when risk occurs).> <Specify who is responsible for undertaking each mitigation action(s)> <Specify timeframe for mitigation action(s) to be completed by> <n + 1> 1 Steering Committee unavailable Triggers include: Steering Committee meetings repeatedly rescheduled due to lack of availability; Members do not attend despite prior confirmation of attendance. Lack of availability will stall progress (ie. delayed decisions will defer output finalisation, extend project timelines and staff resources will be required for longer than anticipated) H H A NEW 15/02/06 Preventative: Highlight strategic connection - link Project Objective to relevant Agency strategic objectives Confirm 2006 meeting schedule in January Confirm SC membership Widen representation (include other Agencies) Project Manager NA 15/03/06 Y
2 Inadequate funding to complete the project Triggers include: Funding is redirected; increase (poor quality materials/ inaccurate cost estimates) Budget blow out means cost savings must be identified – ie. reduce output quality, extended timeframes, outcomes (benefits) will be delayed M M B No change 15/02/06 Contingency: Re-scope project, focusing on time and resourcing Project Manager TBC TBC N
3 Staff reject new procedures Triggers include Staff don’t participate in training (not prepared for new roles); New procedures not applied (work-arounds still used). Rejection means additional time and resources required to achieve successful implementation - ie. some outputs languish; more training is required (additional cost, time delays); potential for ‘falling back into old ways’ (more change mgt required); loss of credibility for project (perception of failure). H H A NEW 15/02/06 Preventative: Reinforcement of policy changes by management; Provide opportunity for staff feedback/input prior to policy/procedure finalisation; Develop Training Plan that allows for repeat attendance (perhaps 2 stage training?); Identify staff ‘champions’ to promote adoption of new procedures (buddy system); Circulate information to staff that promotes how new procedures have improved processes (eg. 10 reduced to 4 steps etc); proportion of staff that have successfully completed the training. Identifies local ‘buddies’ for troubleshooting. Sponsor Project Manager Consultant Project Manager Project Manager NA NA $3,000 NA NA 21/02/06 21/02/06 30/03/06 30/03/06 30/04/06 Y Y N N N Note: This example is in brief and more detail would be added as required. For example, in larger projects separate documentation might be developed for each major risk providing much more detail regarding mitigation strategies and costings.