Scenario Question

You work for a small development company that builds homes for low-income families. The homebuild program's purpose is to build a two- or three-bedroom home for each qualifying family. Under the sponsorship of Linda Michaels, your company is getting ready to build a new home for the Andrews family. The family has qualified for the home-build program and is the next family on the home list. You have been assigned to manage this project. Each new build project is named by the address and the next available lot is located at 524 Brampton West ON.

For the 524 Brampton West ONproject, the scheduling will need to be managed around the delivery of products and materials. The costs of these materials have been known to fluctuate lately due to the uncertain economy. Occasionally, projects in this part of town are vandalized during construction. Of course, you must also be mindful of the weather during construction. It is somewhat unpredictable, but as far as you know, the forecast is looking good for the next few weeks.

Now that you have identified how to manage the project and what the costs are, you can take the next step and determine what the project risks are. You would like to review the potential project risks in a risk register.

1. Open a Risk Register and fill in the first four columns of the risk register on your MS Project.

The remaining columns will be filled in later.

1. Which of the following might be risks (either opportunities or threats) for this project? (Choose three.)
2. Fluctuating material costs
3. Finding another family for the house if the Andrews family moves to another town
4. Weather
5. Vandalism
6. Would you classify the weather as a positive risk (opportunity) or a negative risk (threat)?
7. What events might be considered triggers for the risks?