Type of risk

Description

Category

Failure to gain executive support

Lack of executive support might lead to failure of the overall process since there requires to be the authority when these projects are being approved.

Executive Support

Executive disengagement

Communication has been a major problem within the organization, and it might lead to disengagement of the executives.

Executive Support

Ill-defined scope

Failure of proper scope definition might lead o the project spinning out of hand since. More so, there will be the minimum accomplishment of goals and objectives.

Scope

Inaccurate estimates

Failure of making accurate scope estimates will bring about project risks that will interfere with the employee's performance and the overall project strategies.

Scope

Variability of exchange rate

Whenever there are variability's in the exchange rates, the organization will be forced to use foreign currencies which are more expensive for the overall project

Cost Management

Shareholders Disengagement

If the shareholders are disengaged in the project, it will lead to project failure since there will be no or minimum capital, therefore, crippling the whole project

Shareholders

Under communication

Communication has been a problem for the organization. Provision of inadequate information will lead to failure of the project since the quality of the processes will not be maintained.

Communication

Misinformation

Lack of provision of proper information to all the parties involved will bring about roadblocks for the project since everyone will not be at par.

Communication

Inaccurate expectations

It is crucial that everyone within the organization or all the parties necessary to the process understand what is expected of the project. It will ensure that everyone's expectations are similar therefore being able to work towards that expectation.

Communication

Inadequate training

Training is critical for any process that an organization decides to undertake. This is because everyone should get to understand what is expected of them. More so, they will be able to understand the whole project, therefore, being able to work on their production efficiency.

Resource team

Low motivation

Motivation ensures that the employees can be able to perform their tasks as expected without any flaws. On the other hand, they might even put in some extra time to ensure that the project fairs well ad expected.

Resource team

Infeasible design

The design is crucial for this project since the organization has to make sure that they can get to impress their customers. Failure to do so will reduce their market share as well as their growth.

Design

Lack of design flexibility

Each and every product of an organization should be unique from another. It ensures that there are many choices that customers can go to and also that one can be able to tell from another product.

Design

Improper technology contents

Quality should be maintained all over the process. It will ensure that the product will be accepted within the market and also that the customers will be satisfied. Failure to achieve these might lead to massive losses for the organization.

Technical

Security vulnerabilities

Security is crucial for each and every project. The organization has to ensure that they meet all the required security strategies to be able also to meet the government regulations.

Technical