Preliminary Risk Assessment
This node serves to illustrate the risks associated with this project, their probabilities, and course of action--as assessed in DPM. This is a preliminary risk assessment, and is subject to change. It will be expected that a team member will actively and iteratively assess the project's risk as it proceeds and consistently update this node.
|Risk Description||Probability||Severity||Plan of Action|
|Customer can no longer fund the project, or drastically reduces budget||Low||High||If the project has yet to get to MSD1, then the project should be canceled, as it would no longer have a sponsor. If this were to happen after MSD1 was started, the team would have to change the scope of the project. A possibility would be to demonstrate the method that would be used in solving the problem, possibly building a rough prototype out of common materials. This design could then be implemented by Corning Tropel or a subsequent MSD team using the appropriate materials for the application.|
|First generation LightGage system not available to team.||Low||High||Once again, this would result in a serious change of project scope. The final product may end up being a fixture that could be implemented on the LightGage system. The project would be reduced to a rather simple mechanical design project, with much less integration and electrical work needed. Thus, scope and possible team organization change would be necessary.|
|Cannot find MSD team members.||Medium||High||It is crucial to this project that two experienced electrical engineering students be found to work on the team. If these students cannot be found for the project, a drastic change in scope will have to take place. Much of the sensing and electrical system integration will have to be either done by other disciplines or scaled down substantially. Thus, the final product may be more of a mechanical fixture that works, but does not interface with the LightGage system.|
|Corning Tropel decides to begin developing the product in-house before it makes it to MSD1||Medium||Medium||Again, the scope of the project would be changed. It has been agreed with the customer that if this were to happen the project may be scaled down to developing a certain component or aspect of the 2nd generation LightGage system.|
|It is discovered that the project will cost more than the customer is allowing to fund.||Medium||Medium||This poses an opportunity for the team to get very creative with their resources. The IT Collaboratory has provided the team with a great deal of used equipment and parts that are still fully functional, albeit older models. Thus, the team will be extensively involved in "dumpster diving" and salvaging components and parts from other decommissioned metrology systems.|