MSD Project Risk Assessment Template

ID / Risk Item / Effect / Cause / Likelihood / Severity / Importance / Action to Minimize Risk / Owner
Describe the risk briefly / What is the effect on any or all of the project deliverables if the cause actually happens? / What are the possible cause(s) of this risk? / L*S / What action(s) will you take (and by when) to prevent, reduce the impact of, or transfer the risk of this occurring? / Who is responsible for following through on mitigation?
1 / The building materials are too expensive. / The project does not properly meet budget / Requires more expensive materials / 3 / 3 / 9 / Design with cheaper building materials being a priority / Team
2 / Cannot integrate with a thermoelectric / Cannot produce enough electricity to run the fan / Cannot produce the required heat differential / 2 / 3 / 6 / Coordinate with team 3 to make sure integration is smooth / Aaron
3 / Cannot manufacture within Haitian abilities / Tools, skills, and materials required are too great / The stove design is too complex / 3 / 2 / 6 / Simplify the stove design for ease of manufacture / Neal
4 / Materials cannot make it on time / Cannot build/test on schedule / Order materials too late or not available / 2 / 3 / 6 / Order the materials as soon as plans are finalized / Team
5 / Cannot meter airflow / Not able to adjust the heat of the stove / Cannot slow fan or alter heat / 2 / 3 / 6 / Coordinate with team 3 to reduce fan speed through electronics etc. / Ian/Aaron
6 / Stove is not stable / Stove tips too easily to be useful/safe / Stove is not secured or stabilized properly / 2 / 3 / 6 / Subject stove to varying stability tests design for 150% expected loads / Aaron
7 / Stove doesn’t reduce fuel consumption / Fuel consumption isn’t significantly reduced / Don’t have complete combustion / 2 / 3 / 6 / Alter design and/or address better ways for efficient heat transfer to pot / Kevin
8 / Stove significantly alters cooking practices / Traditional cooking is altered too much / Cooks differently than before / 2 / 3 / 6 / Perform numerous tests of prototype and seek the opinions of experts / Neal
9 / Stove doesn’t reduce emissions / Emissions from stove are too harmful / Don’t have complete combustion / 2 / 3 / 6 / Alter design early if it is determined to not reduce harmful emissions / Kevin
10 / Can’t make the stove meet mobility requirements / Designed stove is too heavy/bulky to move / Designing w/out mobility in mind / 2 / 3 / 6 / Determine amount of materials early and don’t make bulky / Aaron
11 / Project Scope is too large / Project is not completed on time / Project was not properly scoped / 2 / 2 / 4 / Coordinate with faculty advisor to determine if scope is too large / Chris
12 / Improper coordination with other teams / Can’t coordinate electronics and testing / Don’t confer with other teams / 2 / 2 / 4 / Have constant contact with the other teams through liaisons / Aaron
13 / Can’t construct with cheap easy access materials / Stove is too expensive and not cost effective / Can’t build using recycled materials / 2 / 2 / 4 / Find possible suppliers early on to determine if possible / Ian
14 / Can’t make skirt adjustable / The skirt is not adjustable; fixed / Too complex to make skirt adjustable / 3 / 1 / 3 / Optimize stove design such that an adjustable skirt is not necessary / Chris
15 / Improper air flow amount/location / Don’t produce the proper airflow / Don’t do proper testing and analysis / 1 / 3 / 3 / Produce many working prototypes early and complete numerous tests / Ian
16 / Stove isn’t large enough / Stove is too small to fit their pots / Design the stove too small for 18” pot / 1 / 3 / 3 / Test prototypes with numerous pots of varying size and shape / Team
17 / Can’t model flow properly / Can’t find optimum hole placement and amount / CFD analysis insufficient / 2 / 1 / 2 / Seek assistance from faculty to model the airflow properly / Ian
Likelihood scale / Severity scale
1 - This cause is unlikely to happen / 1 - The impact on the project is very minor. We will still meet deliverables on time and within budget, but it will cause extra work
2 - This cause could conceivably happen / 2 - The impact on the project is noticeable. We will deliver reduced functionality, go over budget, or fail to meet some of our Engineering Specifications.
3 - This cause is very likely to happen / 3 - The impact on the project is severe. We will not be able to deliver, or what we deliver will not meet the customer's needs.
“Importance Score” (Likelihood x Severity) – use this to guide your preference for a risk management strategy
Prevent / Action will be taken to prevent the cause(s) from occurring in the first place.
Reduce / Action will be taken to reduce the likelihood of the cause and/or the severity of the effect on the project, should the cause occur
Transfer / Action will be taken to transfer the risk to something else. Insurance is an example of this. You purchase an insurance policy that contractually binds an insurance company to pay for your loss in the event of accident. This transfers the financial consequences of the accident to someone else. Your car is still a wreck, of course.
Accept / Low importance risks may not justify any action at all. If they happen, you simply accept the consequences.