7. Risk Identification
Licensing risk can be a high on impact due to failure of assembly and lack of proper documentation to continue project. This can cause a point of failure in releasing the product to the customer
Budget risk is based on what is available, not considering how this design will be implemented. Budget risk also includes the lack of funding for work, and the ability to continue on the boat installation project. Budget can be the single highest risk in manufacturing a product and the success life of the equipment.
Resources risk can be a result in a shortage of supplies for the overall system project. Without proper resources the project can not be completed in a timely manner before actual production. This could cause a lag in production and an overall delay in release to the public and loss of funding.
FCC accreditation risk is very important for the boat to be released onto the market, without the FCC's submission of accreditation, along with approval for the system before it is released.
Project Management Institute’s (PMI) Project of ...
Project Management Lifecycle
RISK!This can result in bad business if the product is released to the public without having a safety rating or approval.
System compatibility can be an issue with the different components interfering with each other. If systems are not compatible it may set back the project overall. Ensure an IT department is informed of any incompatibility to help deal with the issues.
In any system connected to the internet or another server or satellite it is possible to receive viruses to corrupt the system. IT needs to be up to date on current virus and issues or it will leave the system vulnerable.
8. Risk Mitigation Plan
For the licensing, a technical writer would be assigned the duty to go over every step in...