One of risks you anticipated for project was late delivery of prototype from vendor. You adjusted your project schedule to minimize impact of risk, built in penalty for late delivery, and developed action plans in case vendor delivered late. You also recognized risk with vendor that they have very little technical depth; if key engineer is not available to project, risk of delay is even greater. You find out how you would monitor vendor's performance and make sure a timely delivery. You took very risk-averse, protective approach to relationship, but now, as project is progressing, you are wondering if there is something you could do with vendor to actually advantage project instead of just protecting it.
Risk management plan which describes how you will alter plans or create new plans relative to that vendor to make an opportunity which will result in lower costs, earlier delivery, higher quality, or other positive impacts.
Answer the following problems:
What can you change in plans to develop the opportunity?
What would that opportunity be?
Determine the probability that this opportunity could happen? What is the impact?
prepare down the risks (adverse effect) which are introduced by this change in plans?
How will you communicate this change to vendor?