Risk Analysis and Risk Management Risk management denotes to the practice of recognising possible threats in advance, examining them and taking preventive steps to decrease the risk. Risk management is important because realising a project's objectives hinges on planning, preparation, outcomes and assessment that contribute towards attaining deliberated objectives. (Gray, F., C., and Larson, W., E., 2006). As a company, in order to launch our project of an enhancing our solar energy managing app, we have come to the conclusion that we will utilise Gray and Larson's risk management process steps to analyse potential threats that could affect the project and develop a strategy to minimise and prevent possible threats. Figure 1, Gray and Larson Risk Management Process Steps (Gray, F., C., and Larson, W., E., 2006). Note: Please make this table with the info below and add anything more if possible, thank you. Step 1: Risk Identification Financial Risk Project Risk Operational Risk Legal Risk Step 2: Risk Assessment/Risk Analysis Severity of Impact: IT (Operational Risk) = 2 Competitors (Project Risk) = 3 Sales (Financial Risk) = 2 Government Policies (Legal Risk) = 1 Total: 8 out of 20 Likelyhood: IT = Green Competitors = Amber Sales = Green Government Policies = Green Controllability Methods Company will use: Issue's log and Traffic lights Step 3: Risk Response Development Strategy development to reduce damage IT = Find IT specialist with at least 5 years to overcome IT Risk Competitors = Analysis their operations and offer better service Sales = Wide range of payment platforms (PayPal, Direct Debit, Flexible monthly payments) Government Policies = Meet all legal government requirements Step 4: Risk Response Control Implement Risk Strategy Communication to all stakeholders Monitor risks by using the risk severity matrix (Traffic Lights) New Risks Changes in government policies IT specialist leaves for competitors Financial (Not meeting sales target) Management Stakeholder Analysis Force Field Analysis Force Field Analysis is a wide-ranging instrument for methodically scrutinising the influences discovered in intricate problems. It structures problems in terms of influences or burdens that maintain the status quo (restraining forces) and those burdens that maintain alteration in the anticipated course (driving forces). An influence can be individuals, resources, attitudes, traditions, procedures, ethics, needs, etc. As an instrument for handling alteration, Force Field Analysis assists in recognising those influences that must be addressed and observed if alteration is to be effective (Ohio Literacy Resource Center, 2014). Figure 4 (Carman, M., 2013). Step 1: Identify Stakeholders Figure 3 (Donaldson, T., and Preston, E., L., 1995). Step 2: Prioritise stakeholders Figure 4 (Mendelow, A., L., 1991). Figure 5, Key Stakeholders (Business Analyst Learnings, 2013). Step 3: Understand Key Stakeholders Communication with key stakeholders: Telephone, Text Messaging, Email, Social Media (Facebook and Twitter) Websites and Face to Face Meetings. Constraints (Internal & External) Internal · Budget · Planning · Unclear testing objectives External · Process quality · Social · Legal