Submitted by: Submitted by thili
Views: 10
Words: 1022
Pages: 5
Category: Other Topics
Date Submitted: 11/26/2015 05:18 PM
Yohan Gunathileka (ICT/13/122)
Silver Fiddle constructions activity
Potential risks associated with this project are,
1. The time management - The given project is supposed to finish with in five months. And the output should meet customer satisfaction. So there is a medium risk in completing the project accordingly with the changing customer ideas or requirements.
2. Finishing project with in the proposed budget – this too can occur when customer requirement start to change. However the project team must keep the expenses with in the proposed budget.
3. Subcontracting the work – this also leaved a medium risk of completing work with expected quality, cost and time.
4. Satisfying the customer- succeeding the above constraints would has no value if the customer is not satisfied.
5. Meeting up the technical requirements – if not this will bring an unwanted risk and could cause a major damage at any point of the project. For ex: insulations must meet the correct standards or else leakages might cause damages.
Risk Event | Likelihood | Impact | Detection Difficulty | When |
The time management | 3 | 5 | 1 | Throughout the project. Specially when meeting milestones |
Finishing project with in the proposed budget | 2 | 5 | 3 | Throughout the project |
Subcontracting the work | 3 | 5 | 1 | Once you hire the work |
Satisfying the customer | 3 | 5 | 1 | At the completion of the project. |
Meeting up the technical requirements | 3 | 5 | 1 | Once the wiring has started. |
Risks | Response | Contingency Plan | Trigger | Responsibility |
The time management | Mitigate: Make tuff schedules and check them daily, weekly and monthly | Hire more resources both labor and physical | When the deadline is near.(Two months before the deadline) | Project manager |
Finishing project with in the proposed budget | Mitigate: Always make sure the team undergo transactions with in the proposed budget. | Separate some money for the emergency cases |...