Answer Happy

During the planning process, you decide to build a risk assessment plan. Opting for a Failure Modes and Effects Analysis, you use the scale 1-Extremely low likelihood/impactful/undetectability, 3-Somewhat low likelihood/impact/undetectability, 5-Moderately likelihood/impact/undetectability, 7-Highly likelihood/impact/undetectable, 9-Extremely high likelihood/impact/undetectability. You determine that the relevant risks associated with this project are: 1. There could be a lack of interest in the dinner, resulting in under-attendance. You estimate the likelihood that this occurs is to be high, and the impact is moderate. You believe the ability to detect this risk before the dinner occurs to be moderate. 2. Going overbudget. You estimate that the likelihood of going over-budget is extremely high, that overbudget detectability is extreme, and that the impacts of going overbudget in the likely amounts is moderate. 3. Finally, you know there are risks of pandemic outbreaks again, like COVID. You find the likelihood to be extremely low, but with extremely high impact on this project if it does occur. You estimate that a crisis like this has a moderate likelihood to remain undetected until it is too late to adjust. Calculate FMEA scores for each risk. Which risk should receive the most attention based on your findings?