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.