Risk Assessment
We conducted a Risk Assessment to understand the key threats to Threadline. We developed and validated mitigation plans wth the goal to de-risk as much as possible. These risks have been categorised into: business viability, technical feasibility and product functionality.
Mitigation plans for the highest ranked risks have been laid out and tested through validation experiments.
Business Viability
Description
Consequence
Probability
Impact
Risk
Mitgation
Residual
Competitor launches a better product.
Brands will choose to partner with them over Threadline, reducing our market share and revenue potential.
High
High
High
Continue to develop with a user-centric approach; working closely with partners and pilot testers to ensure all user needs are met.
Medium
Threadline fails to win over procurement teams for sales, despite an attractive offering for developers.
Those with the purchasing power will not sign off on the costs. Threadline will not acquire customers and therefore have limited revenue.
High
High
High
Ensure onboarding and integration processes are defined and optimised. Prove the value of Threadline to data and analytics teams with tangible results from our codevelopment period. Obard new clients using pilot trials . During the initial trial with Puma, identify ways that Threadline can generate analytics and insights that can directly benefit them.
Medium
Brands have stagnant workplace cultures.
Teams will not adopt Threadline and it will be difficult to achieve developer buy-in.
Medium
High
High
Take a top-down and bottom-up approach to outreach. Facilitate workshops and 'Threadline heroes' that promote Threadline across their organisation and in new companies.
Medium
Product Functionality
Description
Consequence
Probability
Impact
Risk
Mitgation
Residual
Threadline does not become adopted by all team members.
Threadline does not streamline the communications and instead becomes another platform. This would only compond the problem. Enterprises would terminate their contracts
High
High
High
Threadline's design will follow that of very familiar communications interfaces, reducing the onboarding time and barrier to access. Direct Messaging will also be provided to eliminate switching between platforms.
Medium
Threadline is difficult to use and challenging to navigate.
The users would become disengaged and resort to other methods of communication. Threadline.
Medium
High
High
We will follow standard design structures for communications. We will ensure that the file finding path, prodct information access and the transfer of data between softwares is as smooth as possible.
Low
Technical Feasibility
Description
Consequence
Probability
Impact
Risk
Mitgation
Residual
Integration with brands’ internal systems isn't smooth as our systems aren't able to reformat data sufficiently
Threadline will not be able to integrate wholly and users will still need to use many platforms and re-enter data.
Medium
High
High
Threadline will automate data scraping from communications and files, logging most of the data users need for access on our platform.
Medium
