Risk Management Plan

Owned by Sahil Kale
Last updated: 2021-12-20
1 min read

The risk management plan is assesed with the following terminology:

  • Likelihood

    • Very likely

    • Likely

    • Possible

    • Unlikely

    • Very Unlikely

  • Impact

    • High

    • Moderate

    • Low

Risk

Likelihood

Impact

Mitigation

Risk

Likelihood

Impact

Mitigation

Failure to secure advanced RPAS licence

Very Unlikely

High

Get advanced RPAS licence at first available opportunity. At the time of writing, the advanced RPAS licence has been acquired.

Insufficent funding

Unlikely

Moderate

Set budget and sufficient funding has been secured in advance of the competition (at the time of writing, 15k has been secured).

Unforeseen expenditures may be temporarily covered by team members before requesting additional funding in future academic terms

Project Delays

Moderate

Moderate

Account for delays when creating timeline

Set key milestones to sprint the team