Most project organizations in their early stages of development probably do not have active risk management capabilities in place. Risk is usually defined by two parameters: Likelihood and Impact. The likelihood of occurrence is the probability that the risk will occur. Project groups usually develop Risk Mitigation Plans for High Likelihood/High Impact risks. They also identify Triggers for the risks so that a complete characterization of the Risk can be addressed in the Project Risk Management Plan. Many Program Management Offices and project organizations employ third-party services such as contractors and vendors to complete projects. Among the major risks with using third parties is the contractor resources risk. The Panama Canal Authority was engaged in a $5 billion Canal Expansion Program set for completion in 2014, the Centennial of the opening of the original Panama Canal in 1914. The course participants were project managers, contract administrators, project engineers, inspectors, contract specialists, and other personnel.