Sheet1Lectocomp Electronics Manufacturing CompanyProject RisksAssessmentResponse1Legal LiabilitiesProbabilityRationaleImpactRationaleNext StepsStrategyRationaleThis product must ensure that everything is up to code and follows all regulations legally and ethically. Extra research on the product laws need to be done to ensure no delays.Highly LikelyResearch for this product must be done to prevent legal liablilites.MajorLegal liabilities can become costly and set our project back.Determine ActionsEnhanceResearch extra information on the laws centered around this device.2Financial ApprovalWith a new product comes new staff members. This means that training will need to be done. Training can be costly. Therefore, the budget for this project has be be budgeted and aproved.Highly LikelyProject of this measure need approval by stake holders. Losing money is not what is wanted when trying to emplement a new product to our company.MajorMoney matters should be considered in all aspects of this product to ensure that we are making a product that is financailly affordable yet durable.Determine ActionsEnhanceIdentify the potential benefits from the cost of the product.3Government RegulationsThis device for this product will be used in the medical field. Our staff members of not familiar with the legalities of this type of computer board. Therefore, further training knowledge will need to be gained in this aspect. Highly LikelyIf our employees are not educated they can inadvertantly make a device a harmful one. MajorA recall is not only costly but it could give our company a bad name. This will result in money loss and a court case that needs settleing.Determine ActionsEnhanceExtensive research needs to be conducted to ensure that we are aware of all the government regulations that could effect this device.4Procedure We are only somewhat familiar with this product. This means it will take time to fully understand this product before implementing a plan of action. Highly LikelyHaving an understandingof procuder will save time and cinfusion in the future.MajorEveryone must be informed of the project at hand. If people are unaware the project can fall behind on condusion alone.Determine ActionsEnhanceAdditional training to enhance skills and knowledge.5RequirementsNot only does this project have a deadling it also has other requirements. It has to be done in house by the current staff member. It needs to be done to government regulations. Also it has to be within budget. PossibleBudget is a major prequirement that has to be reached. We do not want a costly project to hinder further growth in our company.MediumOutsourcing costs money. Therefore we must stay in house to prevent unwanted fees and costs that could result in project failure.Further AnalysisEnhanceWe need to ensure formal processes and quality assurance proceedures.6Time ConstraintsThere are only 12 months to complete this product. The secondary company is producing the prototype. This means that.

1. Sheet1Lectocomp Electronics Manufacturing CompanyProject
RisksAssessmentResponse1Legal
LiabilitiesProbabilityRationaleImpactRationaleNext
StepsStrategyRationaleThis product must ensure that everything
is up to code and follows all regulations legally and ethically.
Extra research on the product laws need to be done to ensure no
delays.Highly LikelyResearch for this product must be done to
prevent legal liablilites.MajorLegal liabilities can become
costly and set our project back.Determine
ActionsEnhanceResearch extra information on the laws centered
around this device.2Financial ApprovalWith a new product
comes new staff members. This means that training will need to
be done. Training can be costly. Therefore, the budget for this
project has be be budgeted and aproved.Highly LikelyProject of
this measure need approval by stake holders. Losing money is
not what is wanted when trying to emplement a new product to
our company.MajorMoney matters should be considered in all
aspects of this product to ensure that we are making a product
that is financailly affordable yet durable.Determine
ActionsEnhanceIdentify the potential benefits from the cost of
the product.3Government RegulationsThis device for this
product will be used in the medical field. Our staff members of
not familiar with the legalities of this type of computer board.
Therefore, further training knowledge will need to be gained in
this aspect. Highly LikelyIf our employees are not educated
they can inadvertantly make a device a harmful one. MajorA
recall is not only costly but it could give our company a bad
name. This will result in money loss and a court case that needs
settleing.Determine ActionsEnhanceExtensive research needs to
be conducted to ensure that we are aware of all the government
regulations that could effect this device.4Procedure We are only
somewhat familiar with this product. This means it will take
time to fully understand this product before implementing a
plan of action. Highly LikelyHaving an understandingof

2. procuder will save time and cinfusion in the
future.MajorEveryone must be informed of the project at hand.
If people are unaware the project can fall behind on condusion
alone.Determine ActionsEnhanceAdditional training to enhance
skills and knowledge.5RequirementsNot only does this project
have a deadling it also has other requirements. It has to be done
in house by the current staff member. It needs to be done to
government regulations. Also it has to be within budget.
PossibleBudget is a major prequirement that has to be reached.
We do not want a costly project to hinder further growth in our
company.MediumOutsourcing costs money. Therefore we must
stay in house to prevent unwanted fees and costs that could
result in project failure.Further AnalysisEnhanceWe need to
ensure formal processes and quality assurance
proceedures.6Time ConstraintsThere are only 12 months to
complete this product. The secondary company is producing the
prototype. This means that the product has to be free of errors
when it reaches our company. PossibleTime is limited. To
complete this project on time we must have a given time for
each task.MediumIf we miss deadlines we will have to rush
other projects. Our product could risk not being reaching its full
potential.Further AnalysisMitigateThe work should be
monitored on a regular basis. 7ManagementThe managers are
new to working with each other. This runs a risk that they will
not get along and result in project setbacks. Additionally a new
manager will be hired to assist in this project. This manager
will have to be put up to speed when they get here.
PossibleManagers must work together and set an example to
keep employees motivated and on task. MediumManagement is
the glue that hold the project together. They need to be ready
and willing to take this project on full force.Further
AnalysisMitigateAs a team the management team needs to come
up with the best plan of action and stick with it so the group can
be strong enough to finish the project on
time.8SchedulingTwelve months is not much time to complete
this project. That means that we will have to follow a strict

3. schedule that cannot be deviated from. PossibleEveryone must
participate in the given schedule. This will ensure we make our
deadline.MediumSchedualing is designed to keep us on track. If
we fall off tract we will lose momentum and motivation.Further
AnalysisMitigatePlanning needs to be more detailed and offer a
plan B.9CommunicationIf this project is not properly
communicated to one another it could risk failure. Every staff
member involved needs to be informed of the goings on. This
way the time delays will be fewer than what they would be if no
one knew what deadlines they have to meet. PossibleLack of
communication can cause delays and confusions. This could
steer our project in the wrong direction without even realizing.
MediumCinfusion causes unwanted delays that can cause us to
break our dealine point. Further AnalysisMitigateMeetings with
each group and meetings as a whole team should be held
regularly so that there are no communication delays.10Decision
ManagementIn projects with time restraints it is crutial to be
able to make decisions on a drop of a dime. These decisions
cannot cause delays because timing is important in ordr to meet
the deadline.PossibleManagers have to be keen to trouble
shooting. If they lose their cool then the team will feel that their
leader is weak and the team will be weakened by this.
MediumWith out proper deciseion management the project can
getoff track. This will prevent the project form meeting its
deadline.Further AnalysisMitigateThis project needs to have
operational reviews done on a regual basis. 11MotivationEvery
staff member involved in this project still has other work to be
done. This means that this project is added work and some staff
members will not be motivated to work on this project.
PossibleMotivations gives this project its steam to get
completed. With us having a deadline we need to work at full
force. MediumWithout motivation the project will tip toe along.
It may get done but we need to have approval on regulations
before market. Further AnalysisMitigateKeeping positive in
group meetings. Explaining any confusion further to prevent
people from losing momentum.12Authority IssuesBeing a new

4. manager and also hiring a new manager could bring along
authority issues due to the fact that the seasoned employees may
not want to work with us simply due to the
unfamiliarity.LikelyAuthority issues can cause conflict that can
cause delays. All member involved must be willing to work
together as a team under the assigned management. MinorIf
team memebers do not want to follow instruction that they
should not be on the team. All memebers chosen have to be
willing to comply to prevent conflict.NothingAcceptanceShow
team member that this is a group project and that the
management is there for support and to help the team stay
motivated. 13Employee Work QualityEmployees must ensure
that they get their work done in a orderly fashion. They also
must make sure that they complete work that does not pertain to
this project.LikelyEmployee participtation is important. Without
it the project will lag.MinorIf employees do not preform at top
notch campacity we could fall behind.NothingAcceptanceGiving
employees the tools and resources that they need is important to
ensuring that the quality the their work is the best they can
do.14Lack of CommitmentThis is a group effort project. The
time that is required to get this project done is limted so
everyone needs to be commited if we want success.
LikelyWithout commitment our project will not be a success. It
will take the actions of every department to make this project
possible. MinorIf employees are lacking commitment our
project will lack the proformance that we are looking to gain by
introducing this new product. NothingAcceptanceGiving
incentives and rewards to the group for completing this project
can keep them commited to succeeding.15Culture of
OrganizationThis project will require staff members from
different departments to get involved. Although this is one
company the team members are still do not overly know one
another. This could cause cultural differences that could hinder
the project from moving forward.LikelyCulture gives insight on
ideas that we could never think on on our own. We need to
embrace the differences so that we create the best product

5. possible. MinorIf we have cultural problems within the groups
our project could fail on differences
alone.NothingAcceptanceOur company has been working
together on other project. Everyone should be oriented with one
another but it would be wise to hold an oreintation at the
beginning of the project so that everyone can get to know their
team members.
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Legal Liabilities
This product must ensure that everything is up to code
and follows all regulations legally and ethically. Extra
research on the product laws need to be done to
ensure no delays.
Lectocomp Electronics Manufacturing Company
Financial Approval
With a new product comes new staff members. This
means that training will need to be done. Training can
be costly. Therefore, the budget for this project has be

6. be budgeted and aproved.
Project Risks
Sheet1Types of risk involved in the project1. the first risk
involved deals with marshaling the manpower for the project in
time. This is a schedule risk. This risk exists because the
project is to be handled exclusively by internal manpower.2. the
second risk is that of completing thee milestones of the project
in time. This is a schedule risk. Since this product is new a
risk exists that there may be aspects of the project which may
have been overlooked..3. the budget estimates may need to be
revised. This is a budget risk.4. there may be a problem with
the contractors brought in to consult on the production process.
This is a business risk.5. the production of this product is also
new for the company. This is a business risk ass it is
unchartered waters for the company.6. employees working on
this project will be forced to massively multitasks a number
of projects at thee same time. This is a technical environment
risk.7. the fact that the product will be produced internally
also poses a new challenge to the company as this is a first.
This is a technical environment risk.8. the person chosen to
lead the process has not led any projects since joining the
company. This is a technical environment risk.9. the decision of
the project leader came as a surprise to the person chosen as a
project leader. This surprise is due to the fact that inadequate
notice was not given to the chosen project leader. This is a
technical environment risk.10. the project manager has not
worked with any of the people outside the engineering
department and barely knows them. This is a technical
environment risk.11. the market has not been effectively
analyzed before the onset of this project. This presents a
programmatic risk.12. something might go wrong during the
manufacturing process. This is an operational risk.13. since the
product is to be released in a field that is highly regulated by
the government there may be a lot of constraints placed on the
product. This is a business risk.14 the consumers might reject

7. this product due to its untested nature in the business field.
This is a business environment risk.15. the quality manager
position is still vacant. This is an internal environment risk.
This is a critical role and the project cannot begin without this
role being occupied.
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Types of risk involved in the project
1. the first risk involved deals with marshaling the manpower
for the project in time. This is a schedule risk. This risk exists
because the project is to be handled exclusively by internal
manpower.
2. the second risk is that of completing thee milestones of the
project in time. This is a schedule risk. Since this product is
new a risk exists that there may be aspects of the project which
may have been overlooked..
3. the budget estimates may need to be revised. This is a budget
risk.
4. there may be a problem with the contractors brought in to
consult on the production process. This is a business risk.
5. the production of this product is also new for the company.

8. This is a business risk ass it is unchartered waters for the
company.
6. employees working on this project will be forced to
massively multitasks a number of projects at thee same time.
This is a technical environment risk.
7. the fact that the product will be produced internally also
poses a new challenge to the company as this is a first. This is
a technical environment risk.
8. the person chosen to lead the process has not led any
projects since joining the company. This is a technical
environment risk.
Risks
Probability
Rationale for probability
Impact
Rationale for impact
Suggestions
New to Government regulations
High
Product not up to government regulations
High
Set back on release date
Government regulations need to be learned before beginning the
project
Hiring an engineer for project manager position
Medium
Although you have experience in this area you haven’t been
hands on since stating for the company
Med
Spend next 12 mnths familiarizing with the procedures of the
project
Use of employees that already have projects
High

9. Employees will become overwhelmed with a new project on top
of their old ones
High
Employees become disgruntle and lazy thus defecting the
product
Possible compensation raises or extra hours
Another company producing the prototype
Low
Being produced by another company has the potential to cause
problems down the line
Low
Possible defects in materials
Prototype should be made in house thus giving employees to get
hands on learning
Lack of communication with future staff
High
Meeting new people on new project.
High
Attitudes can clash and rights to authority can become an issue
considering the circumstances
Upon finalizing the team, there should be a meeting to go over
the project. And to ensure the communication lines are open
Negative previous processes
High
The outcome on previous work hasn’t been so good
High
Projects in past unsuccessful will lead to this one as well.
All employees involved take training classes to enhance the
probability of a successful production of product
Poor organization skills
High
CEO’s organization of this project is all over the place
High
The use of employees that have projects already and employees
that have no known experience
Again training and/or possibly use only employees that are at

10. the end or finish with other projects
New CEO
High
Have know knowledge of employees
High
More demand and less hands on
CEO need to meet with the employees and get to know them.
Then maybe analysis the project
Budget
High
There can be issues of going over budget down the line
High
Risk of going over budget due to cost of materials, hiring of
new employees or pay raise and/or prolonged production
Additional investigation needed
No definite start date
High
Uncertain of when to inform the employees of when the
production of the product will start
High
Unknown time frame of production thus interference with other
work
Additional
Investigation needed