ou are a project manager at Fabulous-Houses-R-Us (FHRU) located in London, Ontario.You are assigned as project manager on the following project for the Falcon family (owner).FHRU is a general contractor that subcontracts work to professionals in the London area.You will have a site superintendent (employee of FHRU) available for the project for 50% of the time to provide direction to andoverviewofthesubcontractors.TheFalconfamilyalreadyownsthelandonwhichthehouse willbe built. ProjectScopeStatement ProjectObjective:Constructacustomhomewithinsevenmonthsatacostnottoexceed$600,000 (not including cost of land; HST extra). Deliverables: Atwo-storey2600ft2,2bathroom,3bedroom,1office/denfinishedhomewithunfinished basement Finishedandinsulatedgarage Concretedriveway Allappliances:refrigerator,dishwasher,range,washer,dryer Milestones: StartofprojectAugust15 CityofLondonandotherpermitsapprovedbySeptember15 FoundationplacedbyOctober15 Houseindrycondition(roofon,wallsintact)November30 CityofLondonfinalinspectionbyFebruary15 Completion(move-inready)andtransfertoownerby February28 TechnicalRequirements SatisfyOntarioBuildingCodeandCityofLondonbylawrequirements SatisfyOntarioMinistryofLabourhealthandsafetyrequirements Garagemustaccommodatetwovehiclesplusa12x10ftworkshoparea Includeelectricalsystemforafuturebackupgenerator Solarpowergenerationforminimumof 20%ofpeakelectricityneeds HighefficiencynaturalgasfurnacewithHEPAairpurifier LimitsandExclusions Thehomewill bebuilttothespecificationsanddesigndrawingsasprovidedbytheownerat the start of the project. Theownerisresponsibleforlandscaping Customer/OwnerReview Pat andSamFalcon

Write Risk Management Plan on the above Project and cover the below points in detail.

1. Budgeting - What is the budget for Risk Management and what is the protocol to derive contingency and management reserves for the project budget?
2. Timing - Which risk management processes are to be used when,and how often will they be performed?
3. Risk categories - Identify the means for grouping both risk threats and risk opportunities.

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