Question
Hi. I have to analyze a risk my project will face. Could you explain what each category means and if possible provide an example of
Hi. I have to analyze a risk my project will face. Could you explain what each category means and if possible provide an example of how to go about filling in each category? I attached my project proposal if that helps.
Project Name | [project name] |
Risk ID # | |
Responsible person | [name] |
Risk identification date | [mm/dd/yy] |
Condition | |
Trigger event | |
Consequence/Impact description | |
Consequence/Impact value (quantify impact) | |
Probability (choose from 20, 40, 60, 80) | |
Expected Value | 0 |
Response Strategy | |
Known Cost of Response | |
Contingency for Response | |
WBS Relationship (tasks associated with condition or response strategy) |
SWIMMING POOL IN BUFORD
Project Manager: Sarriah Nesbeth
Sponsor: GEORGIAN LANDSCAPE DESIGN
Prepared by: Sarriah Nesbeth
Revision History
Revision date | Revised by | Approved by | Description of change |
PROJECT PROPOSAL:
Project Goal
The goal of this project is to design and build a state-of-the-art swimming pool facility in Buford, measuring 25m x 15m with a capacity of 200 people. This facility aims to provide a recreational space for individuals of all ages during the hot summer months, promoting fitness, camaraderie, public safety, and creating job and volunteer opportunities in the Buford area.
Problem/Opportunity Definition
The current lack of recreational facilities in Buford poses a challenge, leaving residents with limited options for physical activity and social engagement during the summer months. The proposed swimming pool will address this gap, offering a safe and inclusive space for the community.
Proposed Solution
Toconstruct a modern swimming pool facility with recreational areas, changing rooms, and associated facilities to meet the diverse needs of the community.
Project Selection & Ranking Criteria
Project benefit category: |
X Compliance/Regulatory Efficiency/Cost reduction Revenue increase |
Portfolio fit and interdependencies |
The project aligns with the community's need for recreational facilities, as indicated by attendance trends at existing facilities and positive feedback from community surveys. |
Project urgency |
Although the project does not have a critical timeline, completing it before the end of the school year (May 23rd, 2024) is preferred to maximize its impact. |
Cost/Benefit Analysis
Tangible Benefits - Community well-being |
Benefit -Reduced travel for recreation, increased physical activity, improved mental health. |
Value & Probability - High, given the community's demand for recreational spaces. |
Assumptions Driving Value -Community engagement and promotion efforts will drive facility usage. |
Intangible Benefits |
Benefit - Enhanced community cohesion, increased sense of pride and ownership. |
Value & Probability -Moderate to High, based on successful implementation and community involvement. |
Assumptions Driving Value -Effective community outreach and engagement strategies. |
Cost Categories | Amount |
Internal Labor hours | 500 |
External costs | $710,000.00 |
Labor (consultants, contract labor) | $170,000.00 |
Equipment, hardware or software | $530,000.00 |
List other costs such as travel & training | $10,000.00 |
Financial Return $290,000.00 |
Business Requirements
1. Obtain all necessary permits and approvals from local authorities. |
2.Secure partnerships with local businesses for sponsorships and support. |
Scope
Major project activities |
1.Feasibility study and site analysis 2.Design phase with local architects and engineers 3.Permitting and approval processes 4.Construction phase with local contractors and labor 5.Marketing and awareness campaign |
Out of scope activities that are critical to the success of the project |
External factors affecting construction timelines, such as weather conditions. |
Major Obstacles
1.Regulatory hurdles in obtaining necessary permits. |
2.Community opposition to the project. |
Risks
1.Delay in obtaining permits could impact the project timeline. |
2.Unforeseen construction challenges leading to cost overruns. |
Schedule Overview
Estimated Project Completion Date: 05/15/24 |
Major Milestones |
Design phase completion 03/31/24 |
Marketing campaign launch 04/01/24 |
External Milestones Affecting the Project |
Local community events affecting marketing efforts 03/15/24 |
Regulatory review board meetings Dates to be confirmed. |
Impact of Late Delivery Late delivery may result in missed opportunities for community engagement and reduced utilization during the peak summer season. Delays could also affect sponsorship agreements and revenue projections. |
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