Construction Of Apartment In Calgary Risk †Myassignmenthelp.Com

Question: Discuss About The Construction Of Apartment In Calgary Risk? Answer: Introducation The project mainly deals with the construction of an apartment in Calagary. It is identified that during the construction of an apartment, the project manager faces number of risks as well as challenges. In order to resolve the challenges, the project manager needs to adopt several methods or plan. Therefore, in this paper, the project risk register is illustrated in order to reflect on various types of risks that the project manager faces during construction. The paper also analyses project risk in order to develop risk response plan for resolving the challenges that are faced during construction of the apartment. Project risk register Project phase Name of the risk Risk description Likelihood of the risk (1-5) Consequence of the risk (1-5) Nature of the risk Control measures Control effectiveness Initiation phase 1. Incorrect background analysis of the project If the background of the project is not analyzed appropriately then the stakeholders of the project will face difficulty in understanding the need of constructing the apartment. 3 2 Negative The background of the project must be analyzed properly. Low 2. Inappropriate appointment of team members If the team member who are appointed for the construction project are not effective for completing the project then the project progress can be obstructed. 4 5 Negative Appropriate appointment of team members Medium 3. Improper creation of project plan If the project plan is not created then the project managers will face difficulty in working with the project 3 4 Negative Project plan must be created properly so that the requirement of the project became clear Medium 4. Lack of resources If the resources that are assigned to the project are not appropriate then the project managers are unable to complete the project on time. 3 4 Negative The resources must be estimated properly and as per the need of the project appropriate requirement must be assigned. High 5. Lack of proper management If the management of the organization are unable to manage the project then the project managers will face difficulty in executing the project on time. 4 5 Negative Proper management must be present for managing the project of construction. high 6 Extension of the scope of the project The scope of the project is extended in order to enhance the quality of the project but it enhances both budgets as well as project time. 5 4 Positive New project scope must be incorporated by managing both budget as well as time. Medium Planning phase 1. Inappropriate budget analysis If the budget of the project is not analyzed appropriately then the organization will face financial problems. 4 5 Negative The budget of the project must be estimated correctly. High 2.Inappropriate time analysis Inappropriate time analysis leads to extension of the project schedule that further enhances the project budget 5 4 Negative The time that is needed for completing the project must be estimated properly. High 3. Improper risk analysis If the risk of the project are not analyzed properly then the project manager will face difficulty in completing the project 4 5 Negative The risk related with the project must be analyzed properly. Medium 4. Inappropriate communication plan If the project does not have appropriate communication plan then the entire project will not be executed on time. 3 4 Negative Proper preparation of communication plan. Medium 5. Improper management system If the management system of the organization is not proper then it is quite difficult to manage the entire project. 3 4 Negative Proper management system must used for managing the project. Medium 6. Incorporating features within the project If the project manager incorporate new feature within the project then the estimated time of the project will extend. 3 4 Positive Incorporation of new features must be done before the planning phase of the project. Medium Implementation phase 1.Inappropriate design If the design of the project is not completed properly then the project managers will face difficulty in constructing the apartment. 4 5 Negative The design of the project must be completed effectively as entire project is dependent on the design High 2. Improper raw materials If the raw materials that are used are not appropriate the project managers will face problem 3 4 Negative The raw materials must be selected properly after consulting with the construction engineer. Medium 3. Technical problems on site If the site have some technical issue then it is very much difficult to execute the construction project 4 4 Negative The problems on the site must be resolved. Medium 4. Inappropriate security If the workers of the construction project are not provided appropriate security then they will not perform well. 4 3 Negative Appropriate strategies must be implemented for providing security to the workers. Medium 5. In appropriate work experience of the workers If the workers are not experienced then they will not be able to complete the task on time. 4 3 Negative The workers must be hired with appropriate experience High 6. Changing workers The workers must be changed in the organization for managing the work properly but it can extend the project schedule and well as budget. 4 5 Positive The workers must be changed by analyzing its impact. High Closure phase 1. Inappropriate achievement of the outcome If the project outcome is not achieved then the project will became useless. 5 4 Negative Appropriate achievement of the project outcome must be done by managing the project properly. High 2.Need of budget extension Budget extension can create number of challenges before the organization 3 2 Negative The budget must be extended after the implementation phase Low 3. Improper knowledge of the stakeholders If the stakeholders does not have proper knowledge about the importance of the project then it will be quite difficult to execute the project 3 4 Negative The stakeholders must be provided proper knowledge about the usefulness of the project Medium 4. Incomplete documentation Inappropriate documentation create number of problems before the project managers 3 3 Negative Proper documentation must be created. Low 5.Inappropriate execution of the project If the project is not executed properly then appropriate objective will not be provided 3 2 Negative Proper execution of the project after estimating both time and budget Medium 6.Extension of the project The project must not be extended after the implementation phase 2 3 Positive The extension of the project must be done before the implementation phase. Low Project risk analysis Phase Risk name Risk factors Probability Impact Control Mechanism Initiation phase 1.Incorrect background analysis of the project 1. Incorrect analysis 2. Inappropriate information Low Medium 1. Proper analysis 2. Proper collection of information 2.Inappropriate appointment of team members 1.Inappropriate selection of team members 2. Improper recruitment Medium High 1.Appropriate recruitment 2.Proper experienced workers must be recruited 3.Improper creation of project plan 1. Improper information about project plan 2.Inappropriate creation of project plan Medium high 1. Proper creation of project plan 2. Proper information about project I used 4.Lack of resources 1. Inappropriate resource collection 2. inappropriate knowledge about the project need High Medium 1. Proper information about the project must be collected 2. Appropriate collection of resources. 5. Lack of proper management 1. Improper management system 2.Inappropriate management strategy high High 1. Utilization of proper management strategy 6. Extension of the scope of the project 1. Due to incorporation of new project objective 2. Due to addition of new feature Medium Medium 1.Incorporation of new objective must be done effectively. Planning phase 1.Inappropriate budget analysis 1. Improper budget analysis High Medium 1. The analysis of the project must be analyzed properly. 2.Inappropriate time analysis 1. Improper time estimation High High 1. Time must be estimated properly. 3.Improper risk analysis 1.Inappropriate risk analysis Medium Medium 1. The risk of the project must be analyzed properly 4.Inappropriate communication plan `1.Improper creation of communication plan Medium Medium 1. Communication plan must be created properly. 5.Improper management system 1. Improper system for managing project Medium Medium 1. The project must be managed properly. 6.Incorporating features within the project 1. New features are added in the project Medium Low 1. New features must be added by estimating both budget and time. Implementation phase 1. Inappropriate design 1. Improper project High Medium 1. Design of the project must be done correctly 2.Improper raw materials 1.Inappropriate collection of raw material Medium High 1. Appropriate collection of raw material 3.Technical problems on site 1. Technical difficulties on site Medium Medium 1. Technical difficulties must be resolved. 4.Inappropriate security 1. Improper security to the workers Medium High 1. Proper security must be provided to the workers. 5.In appropriate work experience of the workers 1. Improper recruitment High High 1.Proper recruitment of experienced workers 6.Changing workers 1. Due to inappropriate work progress High High 1. The workers are changed after estimating time and budget Closure phase 1.Inappropriate achievement of the outcome 1. Due to improper project progress High Medium 1. Progressing the project properly 2. Need of budget extension 1. Addition of new feature Low Low 1. New feature should not be added. 3.Improper knowledge of the stakeholders 1. Improper analysis on the project Medium Medium 1.Proper project analysis 4. Incomplete documentation 1. Incomplete creation of document Low Low 1.Proper creation of documentation 5.Inappropriate execution of the project Improper execution Medium Medium 1. Proper execution of the project 6. Extension of the project Due to inappropriate progress of the project Low Low 1. Appropriate project progress. Risk response plan Phases Risk Probability of occurring Impact on objective Agreed responses Current status Initiation phase 1. Incorrect background analysis of the project Low Medium Mitigation Progress 2. Inappropriate appointment of team members Medium High Mitigation Progress 3. Improper creation of project plan Medium high Mitigation Not yet implemented 4. Lack of resources High Medium Mitigation Progress 5. Lack of proper management high High Mitigation Progress 6 Extension of the scope of the project Medium Medium Avoidance Progress Planning phase 1. Inappropriate budget analysis High Medium Mitigation Progress 2.Inappropriate time analysis High High Mitigation Progress 3. Improper risk analysis Medium Medium Mitigation Progress 4. Inappropriate communication plan Medium Medium Avoided Not yet implemented 5. Improper management system Medium Medium Mitigation Progress 6. Incorporating features within the project Medium Low Acceptance Progress Implementation phase 1.Inappropriate design High Medium Mitigation Progress 2. Improper raw materials Medium High Mitigation Progress 3. Technical problems on site Medium Medium Avoided Progress 4. Inappropriate security Medium High Mitigation Not yet implemented 5. In appropriate work experience of the workers High High Mitigation Progress 6. Changing workers High High Acceptance Progress Closure phase 1. Inappropriate achievement of the outcome High Medium Avoided Progress 2.Need of budget extension Low Low Mitigation Not yet implemented 3. Improper knowledge of the stakeholders Medium Medium Acceptance Progress 4. 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