Project Risk, Communication and DocumentationCourse Project: Week 5| PM 586: Project Management SystemsInstructor: Rich 16, 2012| |
Risk Management – Step #1
Identification| Assessment| Response Plan|
Risk| Consequence| Probability| Impact| Trigger| Resp.| Response| Cost| May not have enough in the budget| High| | | | Make sure that the Financial administrtor stay on top of the allocated budget and try to communicate how to cut cost as much as possible.| Weather Permitting| Weather could put a hold on building the foundation and or areas of the building| Moderate| | | | Assure that the PM’s along with the Team Members are monitoring the weather within a 24 hr advance period.| Physical Events beyond Control| Contractors... Get injured Sick or They are not able to obtain building permit or license.| Moderate| | | | Train Personnel on safety and mishaps, talk to the PM’s and TM’s about the importance of | Manufacturing of Equip /purchasing of equipment| Equipment does not arrive on time or not the correct equipment.| High| | | | Reorder the correct equipment and estimate the turn around time of getting the equipment so the delay won’t be weeks.Talk with Safety Inspectors daily.| | | | | | | |
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Project Managers have to lead their team to focus on the corrective actions when they development risk management plans. This will either make the project a success, late or failing to meet the appropriate timelines. This requires turning the uncertainty into certainty by identifying the risks and threats before they happen. For the Huntsville Plant, there are many risks that can take place in the process of building the plant. (1) Cost (2) Weather (3) Unscheduled Events and (4) Equipment, can be events that can affect un-migrated risks for this project. The first risk identified would be cost... You have to plan your budget and assure that the in the planning phrase that you have enough in your budget to pay contractors, purchase unexpected equipment/ or unexpected building material. If you purchased equipment that does not function properly, you may have to do bids with other contractors for equipment that may come in higher that previous allocated for. The second risk is weather permitting. Weather can be so funny especially in the south. it can go from a sunny day to a rainy, tornado and hurricane day. With the weather monitors, daily monitoring the weather, PM’s have to do 24 hour continuous advance monitoring, this will cut down on the risk of building delays. The building foundation has to be dry and there can be concerns about the capabilities of the foundation when it comes to the weather. Also, cost plays another part as a risk with whether, you have to take into consideration the cost of building in the summer month’s v/s the winter months. This could be a difficult task to handle but monitoring the weather and getting the right contractors who can perform no matter what the weather is can cut back on delays and risk. The third risk events beyond the PM’s control such as unforeseen events when they obtaining permits and licenses, or personnel getting hurt while on the job. Getting a license/permit and approval to built on land can be tricky because you need a variety of building inspections for approval such as Plumbing Permit, HVAC Permit, Electrical Permit and Water and Sewage Permit. If you can’t obtain approved permits from either one of the various departments this can cause a delay in the building project. The PM’s should work closely with the Alabama Registered Engineers and Architects to ensure that each one of the permits are in compliance when it time to complete...