Risk Management Plan
DFM
Don’t Forget Me
DFM
Risk Management Plan
1.0
November 1, 2007
Final
Version:
Date:
Status:
Detailed Risk Management Plan
Item
A
B
C
D
Risk
Competitor beats us to market with a better product
Cost prohibitive for the customer
Product malfunctions and baby dies
Caretaker becomes complacent
Probability
3
3
1
1
Impact
5
4
5
2
Impact
CS410 Blue Team
1
Risk Management Plan
DFM
Detailed Risk Management Plan
Item
Risk
A
Competitor could beat us to
market with a better product
B
C
D
If a competitor beat us to the
market with a similar product our
return on investment diminishes
or evaporates.
Cost prohibitive for the
customer
Mitigation
Hold team to timelines and through effective
project management keep team focused on
tasks at hand and do not get caught up in over
designing initially, thus ensure product gets to
market quickly. Knowing who are your
competitors what they have to offer will help
provide knowledge to mitigate the risk.
Ensure that we find the best price for hardware
needed and to keep labor cost down to
minimum. Labor is the biggest cost and can be
mitigated by having well thought out design
plan and leveraging off of existing technology.
If the device is too expensive for
the customer, sales will suffer.
The customer needs a low cost
device to be negligible to the cost
of the vehicle.
Product malfunctions and baby Implement vigorous test procedures and have
the device perform self diagnostic test when
dies
engine is started.
If the product malfunctions and
results in the death of the vehicle
occupant, the loss of confidence
will diminish sales and increase
liability.
Complacency is the hardest risk to reduce. To
Caregivers becomes
mitigate this risk, the device regularly
complacent
communicates with caregiver at specific time
The caregiver becomes
intervals.
complacent and less observant of
the occupant because of the
autonomy of the device
monitoring the presence of the
child.
CS410 Blue Team
2