Question: Based on the bottom information( The first table): Create a risk register for the project. You dont need to include all project risks; instead, incorporate
Based on the bottom information( The first table):
Create a risk register for the project. You dont need to include all project risks; instead, incorporate at least six risks that might come from internal and external sources, and which might impact project scope, budget, schedule, and/or quality. Do the following:
- Identify the internal and external environments which might impact the project.
- List at least six assumptions from the preliminary project description which might lead to project risks.
- List at least six risks, including their potential impacts on the project and estimates of their probability of occurring.
- Rank and prioritize these risks using the information from previous steps.
- Describe the assumptions used to estimate impacts and likelihood and to categorize and prioritize these risks.
- Briefly describe an action plan to deal with each risk. What might be the human factors you must deal with? Who would you need to communicate with?
Would you please check and let me know your idea about the explanation that I created based on the first table regarding to these questions in the second part?
Second part start from this title Six Assumptions from the Preliminary Project Description
First pasrt
| Task ID | Task Description | Predecessor | Resources | Quantity | Estimated Cost (USD) | Duration (in weeks) | Hourly Rate $ |
| A | Site history research | None | 0 | ||||
| A 1.1 | Determine data sources | A | Researchers | 1 | 932.4 | 1 | 23.31 |
| A 1.2 | Collect relevant historical data | A 1.1 | Researchers | 2 | 3729.6 | 2 | 23.31 |
| B | Conduct interviews with past and present owners. | None | 0 | ||||
| B 1.1 | Obtain contact details. | B | Secretary | 1 | 680 | 1 | 17 |
| B 1.2 | Prepare interview questions. | B 2.1 | Secretary | 1 | 680 | 1 | 17 |
| B 1.3 | Schedule days for the interviews. | B 2.2 | Secretary | 1 | 680 | 1 | 17 |
| B 1.4 | Conduct interviews and document responses. | B 2.3 | Panelists | 1 | 1730.4 | 3 | 14.42 |
| C | Reviewing data from local authorities. | None | 0 | ||||
| C 1.1 | Obtain relevant data from the local wastewater management authority. | C | Government agent | 1 | 1171.6 | 1 | 29.29 |
| C 1.2 | Obtain relevant data from the local water authority. | C | Government agent | 1 | 1171.6 | 1 | 29.29 |
| C 1.3 | Obtain relevant data from Xcel Energy. | C | Company representative | 1 | 800 | 1 | 20 |
| D | Conducting a site visit. | None | 0 | ||||
| D 1.1 | Schedule dates for the on-site visit. | D | Secretary | 1 | 680 | 1 | 17 |
| D 1.2 | Inspect the site. | D | Environmental Specialist | 1 | 1600 | 1 | 40 |
| E | Write a report. | A, B, C, & D. | Environmental Specialist | 1 | 3200 | 2 | 40 |
| E 1.1 | Organize information from all previous tasks. | E | Secretary | 1 | 1360 | 2 | 17 |
| E 1.2 | Compile a report for the procurement department. | E 1.1 | Freelancers | 2 | 5280 | 2 | 33 |
| Total | 23,695.60 |
Second part
Six Assumptions from the Preliminary Project Description
- All data collected shall be stored in digital formats.
- All interview participants must issue consent first before being brought on board.
- Employee payments are not subject to any change unless new dynamics emerge during the implementation of the project.
- The only budget available is what the building owner provided.
- Supplies can only be obtained from one supplier who will be agreed upon by the project team.
- Liaising with the local authority is mandatory.
Six Risks
- Workers quitting (External[RR1] )-It can result in unnecessary delays in project completion. Its likelihood of occurrence is low.
- Depletion of funds (External)-Can significantly affect the scope and schedule of the project. Its likelihood of occurrence is high.
- Political interference (External)-This can lead to the local authorities failing to cooperate, thereby undermining the entire project. Its likelihood of occurrence is low.
- Delayed schedule due to late delivery of supplies (External)-Can result in considerable delays in project completion. It is relatively (medium) likely to occur.
- Loss of collected data (Internal)-Can significantly damage the projects progress, thereby undermining the entire project. The likelihood of it occurring is medium.
- Failing to secure interviews (Internal)-This will result in the project collapsing. Low probability that it will happen.
Risk Ranking and Prioritization
| Cost/Impact | ||||
| 1 Low | 2 Medium | 3 High | ||
| 5 High |
| 10 Workers quitting | 15 Depletion of funds | |
| 4 Medium | 8 Loss of collected data | 12 Delayed schedule due to late delivery of supplies | ||
| Likelihood | 3 Low | 6 Failing to secure interviews | 9 Political interference |
Assumptions used to estimate Impact and Likelihood
- Project funding is the primary enabler of the project in question.
- The cost of every risk is directly proportional to the prevailing economic times.
- The likelihood of occurrence depends on the significance of the activity to the project.
Action Plan
- Workers quitting-ensure that[RR2] the project team members get what they need at the right time and appreciate them individually and collectively.
- Depletion of funds-seek donor funds so that in case the allocated funds are depleted, well-wishers who are beneficiaries of the project can help.
- Political interference-creating[RR3] awareness among the local authority members on the significance of the project.
- Delayed schedule due to late delivery of supplies-hold consultative meetings with suppliers in advance to iron out any pending issues that could result in unnecessary delays.
- Loss of collected data-ensure that there is enough back up for collected data.
- Failing to secure interviews-creating awareness among current and previous building owners regarding the projects significance.
Risk Register
| Risk ID | Risk Description | Likelihood of Occurring | Impact | Severity | Owner | Mitigation |
| 1 | Workers quitting | High | Medium | High | Project sponsor | Motivate workers |
| 2 | Funds depletion | High | High | High | Project sponsor | Seek donor funds |
| 3 | Political interference | Low | High | Medium | Project manager | Create awareness among local authorities |
| 4 | Delayed schedule | Medium | High | High | Project manager | Consult with suppliers in advance |
| 5 | Loss of collected data | Medium | Medium | Medium | Project manager | Ensure there is enough back up |
| 6 | Failure to secure interviews | Low | Medium | Low | Project manager | Create awareness among building owners |
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