Risk Management Plan

Author: Taninwat Kaewpankan

Status: Draft

Created: 18 May 2024

Updated: 18 May 2024


Objective

The objective of this document is the process of identifying and evaluating potential risks and issues that could impact a project.

Executive summary

Type something here

Risk Type 1: Time Management

Risk Probability (L/M/H) Mitigation
Difficulty in consistently dedicating 6-10 hours a day due to potential unforeseen events or burnout Medium
  • Create a flexible daily and weekly schedule allowing for breaks and leisure activities to prevent burnout.
  • Set minimum and maximum daily study goals (e.g., at least 6 hours, up to 10 hours).
  • Use time management tools (e.g., Pomodoro Technique) to maintain focus.
  • Track progress weekly to adjust the schedule as needed.

Risk Type 2: Learning Curve

Risk Probability (L/M/H) Mitigation
Struggling with complex topics in JavaScript, Vue, and React High
  • Allocate extra time for challenging subjects.
  • Use a variety of learning resources, including documentation, tutorials, and practice projects.
  • Join online communities (e.g., Stack Overflow, Reddit, GitHub) to seek help and guidance.
  • Break down complex topics into smaller, manageable sections to study gradually.

Risk Type 3: Lack of Immediate Support System

Risk Probability (L/M/H) Mitigation
Lack of mentors or technical friends might slow down progress when facing difficulties Medium
  • Regularly participate in online forums and communities.
  • Consider joining study groups or finding a study buddy online.
  • Utilize platforms like Stack Overflow for specific technical questions.
  • Schedule regular check-ins with online study groups or peers to stay motivated.

Risk Type 4: Potential Distractions

Risk Probability (L/M/H) Mitigation
Unforeseen personal responsibilities or emergencies Low
  • Establish a dedicated study environment to minimize distractions.
  • Communicate your commitment to the project with household members to reduce interruptions.
  • Have a contingency plan to make up for lost study time when distractions occur.
  • Set boundaries and create a study routine to minimize the impact of unexpected events.

Risk Type 5: Budget Constraints

Risk Probability (L/M/H) Mitigation
Exceeding the planned budget Low
  • Prioritize free resources and tools (e.g., freeCodeCamp, Mozilla Developer Network).
  • Monitor spending closely and avoid unnecessary expenses.
  • Utilize the remaining $50 budget strategically for essential resources only.
  • Seek discounts or scholarships for paid courses if additional resources are needed.

Appendix

Probability Chart

Value Qualitative Quantitative
Low Very low chance of risk occuring Less than 10% chance of risk occuring.
Medium Medium chance of risk occuring Around 10-49% chance of risk occuring
High High chance of risk occuring 50-100% chance of risk occuring

Probability and Impact Matrix

Impact
Low Medium High
Probability High Medium High High
Medium Low Medium High
Low Low Low Medium