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identify, analyze, prioritize, and mitigate potential risks that could affect the project timeline, such as staff
<br />availability, regulatory changes, scope changes, delays, vacations, Holidays, turn over, etc.
<br />When a risk is identified, the IKC and the Client project management team will determine the potential
<br />impact on the timeline, implementation probability, and potential costs. Where possible, we will involve
<br />team members, stakeholders and experts in the area. All risks will be documented and include any
<br />interrelationships and dependencies among the risks, as well as the assumptions and constraints that may
<br />affect them.
<br />The next step is to plan the appropriate responses for each risk, depending on its priority and nature.
<br />Response options include:
<br />• Avoid - Eliminating the risk or its source, or changing the project scope or plan to avoid exposure.
<br />• Transfer - Shifting the risk or its consequences to a third party, such as a temporary staffing agency,
<br />a subcontractor, or a partner.
<br />• Mitigate - Reducing the probability or impact of the risk, or both, by implementing preventive or
<br />corrective actions.
<br />• Accept - Acknowledging the risk and its potential effects, and being prepared to deal with them if
<br />they occur.
<br />The project management team will document the response plans, along with the roles and responsibilities,
<br />resources, and timelines for implementing them.
<br />Once the appropriate plan of action has been determined, the next step is to implement the response plans
<br />for the risks that have been identified and analyzed. The established procedures and guidelines should be
<br />followed, and communicated and coordinated with the team members, stakeholders, and other parties
<br />involved. Throughout the process, the project management team will monitor the effectiveness and
<br />efficiency of the actions, and make adjustments as needed.
<br />The last step is to monitor and control the risks throughout the process and after implementation, making
<br />sure to evaluate and document the impact of the risks on your project scope, schedule, budget, quality, and
<br />deliverables, and take corrective or preventive actions if necessary. Risk should be reported and
<br />communicated to the team members, stakeholders, and other parties involved.
<br />Issues Management — IKC's Project Manager will be responsible for Issue Log management and escalation
<br />for all Issues related to the project. Our approach to issues and their resolution is:
<br />• Identify issues and discuss with appropriate team members, stakeholders, and other parties involved
<br />to gather information
<br />• Prioritize the issue based on the information gathered, it's effect on the project, and determine the
<br />issue severity.
<br />• Establish a position on issue.
<br />Develop a response on how the issue will be managed/handled and make necessary assignments
<br />and communicate to the appropriate team members, stakeholders and any other parties involved.
<br />Monitor the issue / resolution of the issue.
<br />Communications Management — IKC's Communication Management strategy comprises several
<br />components, all overseen by the IKC Project Manager:
<br />• Weekly Project meetings with all Core Team members.
<br />Upon project Kick-off, the IKC Project Manager will work with Santa Ana key staff to schedule a
<br />regular weekly meeting with Core Team members and any other key staff the Santa Ana staff deems
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