Assignment- Risk Management
You are developing the Project Plan for the Green Space project located in Saint John. Assume a cost estimate for the project has been completed which indicates that the expected project cost is $500,000. Similarly, assume a schedule has been developed and that the critical path has a 6 month duration, starting in April 2014.
The following facts have also become known:
•Oil was dumped in parts of the area which will be developed into a green space.
•The local city council are to approve any changes to the design, no matter how minor.
•There has been a global spike in recreational projects in the last few years, with the result that playground equipment is difficult to source.
•The local unions are negotiating a new wage agreement with the city.
•There are major construction projects under way at the local oil refinery, pulp mill as well as the nuclear power facility.
•Environment Canada is predicting more than normal rain for the summer.
•The city engineering department does not have good records for where the water supply lines run through the area
•Your lead design engineer has just handed in his resignation
You are to develop a risk management plan for the project. You are to provide the following:
•A proposed risk matrix
•An initial list of risks based on the information available (minimum 8 risks)
•A proposed rink ranking for each risk based on your risk matrix
•Your proposed risk response strategy for each risk (avoid, transfer, mitigate, accept), with a brief explanation for your rationale.