Unit 7 Preparing A Risk Register individual Assignment ✓ Solved
You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street travelling eastbound. South Street is a dual highway with a speed restriction of 45 miles an hour. There are three eastbound lanes and a concrete sidewalk. The bus shelter is set back from the roadway approximately 5 feet.
To the rear of the bus shelter is a cul-de-sac surrounded by residential dwellings and a brick wall in close proximity to the bus shelter. Your supervisor discusses the project with you and requests that you develop a risk register associated with this project before work begins. You will need to identify potential risks including threats and opportunities, and develop a Risk Register in Microsoft Excel (.xls) format.
Your risk register should include the following items:
- Risk Identification – List at least five potential risks associated with this project, including at least one opportunity risk. Each risk must be clearly described.
- Risk Category – List the corresponding category associated with each risk (schedule, scope, budget, etc.).
- Likelihood/Probability – Estimate and list the likelihood of each risk occurring with an explained scale.
- Impact – Estimate and list the potential impact on the project for each risk with an explained scale.
- Rank – Calculate and list a Risk Score (Probability and Impact Score) to rank each risk.
- Root Cause – List at least one potential root cause for each risk and briefly describe one root cause analysis technique.
- Risk Response Strategy – Create at least one clear response strategy for each risk and identify its category (e.g., Avoidance, Mitigation).
- Risk Response Cost – Provide an estimated cost to implement the strategy for each risk response.
- Risk Owner – List who will own each risk, using fictitious names and titles.
- Risk Status – List a hypothetical status for each risk.
- Other Fields – Identify at least one additional field that may be helpful for your project team.
Paper For Above Instructions
In managing a project to upgrade an old bus shelter, identifying and evaluating potential risks is crucial for ensuring the successful completion of the project. In accordance with the project provided, below is a comprehensive risk register addressing the specified requirements.
Risk Register Overview
The following register identifies the risks associated with upgrading the bus shelter, describes each risk, evaluates its likelihood and impact, and outlines mitigation strategies.
Risk Identification
1. Weather Conditions
Description: Adverse weather can delay construction and affect safety protocols.
Category: External Risk
Likelihood: 0.7 (High)
Impact: 0.6 (Medium)
Risk Score: 0.42
Root Cause: Unpredictable weather patterns.
Root Cause Analysis Technique: Fishbone diagram to analyze the weather components affecting the project.
Response Strategy: Implement additional work hours to meet the project deadline.
Risk Response Cost: $1,000 - $10,000 per day.
Risk Owner: Project Manager
Status: Uncontrolled
2. Delivery Delay
Description: Delays in the arrival of materials can hinder progress.
Category: External Risk
Likelihood: 0.5 (Medium)
Impact: 0.7 (High)
Risk Score: 0.35
Root Cause: Poor vendor reliability.
Root Cause Analysis Technique: Pareto analysis to prioritize vendor issues based on past performance.
Response Strategy: Source alternative suppliers to ensure timely delivery.
Risk Response Cost: $2,000 per day.
Risk Owner: Team Lead, Vendor Relationships
Status: Mitigated
3. Insufficient Paperwork Leading to Failed Inspection
Description: Missing or inadequate documentation can lead to project hold-ups.
Category: Technical Risk
Likelihood: 0.5 (Medium)
Impact: 0.7 (High)
Risk Score: 0.35
Root Cause: Inefficient documentation processes.
Root Cause Analysis Technique: Process mapping to visualize documentation flow.
Response Strategy: Implement an inspection schedule with routine checks to ensure compliance.
Risk Response Cost: $3,000 per day.
Risk Owner: Sponsor
Status: Mitigated
4. Shortage of Staff (Illness)
Description: Unanticipated staff illnesses could lead to understaffing on-site.
Category: External Risk
Likelihood: 0.5 (Medium)
Impact: 0.7 (High)
Risk Score: 0.35
Root Cause: Inadequate planning for workforce management.
Root Cause Analysis Technique: SWOT analysis to evaluate strengths and weaknesses in staffing plans.
Response Strategy: Hire additional subcontractors as contingency.
Risk Response Cost: $120 per employee per day.
Risk Owner: Project Manager
Status: Mitigated
5. Zoning Issues
Description: Non-compliance with local zoning regulations can halt progress.
Category: Technical Risk
Likelihood: 0.3 (Low)
Impact: 0.7 (High)
Risk Score: 0.21
Root Cause: Insufficient research on zoning requirements.
Root Cause Analysis Technique: Stakeholder analysis to involve zoning authorities early in the process.
Response Strategy: Develop a contingency plan for quick resolution of zoning problems.
Risk Response Cost: $5,000 per delay.
Risk Owner: Team Lead, Zoning
Status: Controlled
Conclusion
By developing a risk register with clearly defined categories, likelihood, impact, and mitigation strategies, project managers can proactively manage potential setbacks during the upgrade of the bus shelter. This register will serve as a tool for communication, ensuring all stakeholders are aware of risks and strategies in place to combat them. Continued review and adjustment of the risk register will enhance the project’s success and safety.
References
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