Peaklan

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 |...