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Exercise 04 Project Risk Planning The UTSA Recreation Well Phase II Project Project Summary This project represents a Phase II addition to the existing Recreation and Wellness Center that yielded a comprehensive physical fitness and counseling facility. Additions to the existing facility (which includes two 2-court gymnasia, weight room, jogging track, climbing wall, locker rooms, support staff offices, studios, outdoor pursuit accommodations and lounge space) include staff offices, lounges, an entry lobby, racquetball courts, juice bar, game room & multi-purpose gymnasium with support spaces. Site work involved utility extensions, additional paving, landscaping, irrigation and the addition of a large outdoor aquatics area. The total project cost is $45,700,000. Spaces Provided Operations & program director offices, intramural & fitness wellness director offices, support staff offices, Main lobby, Paseo lounge, facility coordinator office, front desk/waiting area, (4) racquetball courts, juice bar, game room, multi-purpose gymnasium, lap pool, spas, hydrotherapy pool, leisure pool with lazy river, (2) sand volleyball courts, exterior basketball court, & developed landscape area for sunbathing. Location Central UTSA 1604 campus, South of the track & playing fields and West of the Convocation Center Size of Project 129,215 Total SF (New SF-124,710 SF; Renovated SF-14,505 SF) Notice to Proceed April 26, 2017 Final Completion Projected to be completed 2018 Exercise Specifications 1. Assume that you are in the risk planning phase of this project. Consider internal and external factors that could have significantly impacted the success of this project. You should also consider the factors provided in the Construction project prompt list below. Identify five risk events for further analysis and record these five risk events into the attached risk register. Factor Group Specific Factor Technical Design change Equipment Material Finance Inflation Subcontractor fails to deliver Lack of funds Interest rate fluctuations Inflation Currency fluctuations Acts of God Earthquake Rain and flood Soil Collapse Legal Requirements Environmental clearance Land acquisition Permits Local laws change Political Government refuses to honor agreements Environmental groups block completion Acts of terrorism, kidnapping Adapted from Mark Ingebretson, "Never a Sure Thing," PM Network, 16 (1), p. 31 and Prasanta Kumar Dey, "Process Re-engineering for Effectivel Implementation of Projects," International Journal of Project Management, 17 (3), p. 156, as presented in Timothy J. Kloppenborg, Contemporary Project Management, Mason, OH: Southwestern Cengage Learning, 2008, p. 264. 2. For each of the five risk events you identified, assess the likelihood (High, Medium, Low) and the severity of impact (High, Medium Low). Record the results of your assessment into the risk register below. 3. For the two highest priority risk events, identify at least two to three risk responses. Record these responses into the risk register below. RISK REGISTER + Risk Event Likelihood Severity Risk Responses 4. Post your exercise to the discussion forum using the filename MOT4143_lastname_Ex08. Then, comment on the post directly before yours. What were the similarities and differences, and why? Your post should be at least 50 words