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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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