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Develop a risk classification matrix

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Reference no: EM132069874

LMN Company has recently bagged an opportunity to develop a new software product. The team has identified possible risks in the project and developed the following table.

Risk Factor

Consequence

Likelihood

Impact Potential

A. Loss of lead programmer

High

Low

Moderate

B. Technical failure

High

Medium

Serious

C. Budget Cut

Medium

Low

Minor

D. Competitor first to market

High

High

Serious

(1) Develop a risk classification matrix

(2) Suggest mitigation strategies to handle each risk.

Reference no: EM132069874

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