[RISK] We are unable to get budget approval for 2027 funds

[JennyRichards-Flexion]

Title

We are unable to get budget approval for 2027 funds.

Description

TTS must request appropriated budget approval for 2027 funds to address this risk.
To ensure that happens, the following items must happen:

• We need TTS Shared Service Approval
  • 1 pager for LBS (in progress)
    • If it's a No, then we need to go another direction
    • If it's a Yes, then we move forward on the Business Justification
  • Business Justification for LBS (8 - 12 pager)
  • System Security documentation (for TTS ATO)
  • Clients on GSA Infrastructure

Category

• Timeline
• Resource
• Environment
• Customer/Partner
• Regulatory or compliance
• Financial (cost/revenue)
• Something else? Please suggest a category.

Potential Impact (1 - 10)

A quantitative rating of the potential impact on the project if the risk should materialize. Impact in a Risk Register should be scored on a scale of 1 – 10 with 10 being the highest impact.

Probability (1 - 10)

The likelihood that the risk will occur at some point in the duration of the project. This should be quantitative like Potential Impact not qualitative (high, medium or low). If you use qualitative measures you cannot calculate a Risk Score, which is done by multiplying Probability and Impact and you can easily convert a number to a descriptor e.g. 1-3 = “Low”, 4-6 = “Medium” and 7-10 = “High”.

Risk Score (Impact x Probability)

Likely Outcome

The likely consequence or impact of the risk if it materializes.

Prevention and Mitigation

Action plan to prevent a given risk from occurring, or contingency plans if the risk occurs.