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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

  1. Loss of lead programmer

High Low Moderate

  1. Technical failure

High Medium Serious

  1. Budget Cut

Medium Low Minor

  1. Competitor first to market

High High Serious

  1. Develop a risk classification matrix
  2. Suggest mitigation strategies to handle each risk.

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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 FactorConsequenceLikelihoodImpact PotentialLoss of lead programmerHighLowModerateTechnical failureHighMediumSeriousBudget CutMediumLowMinorCompetitor first to marketHighHighSerious Develop a risk classification matrix Suggest mitigation strategies to handle each risk.

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