You 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.

1. Introduction
2. Methodology - Define the approaches, tools and data sources that will be used to perform risk management on the project. Havesubheadingshere, an example is Risk Identification Methodology, but there are many others.
3. Roles and Responsibilities - Define the lead, support and risk management team members for each type of activity in the risk management plan and clarify their responsibilities.
4. Budgeting - What is the budget for Risk Management and what is the protocol to derive contingency and management reserves for the project budget?
5. Timing - Which risk management processes are to be used when,and how often will they be performed?
6. Risk categories - Identify the means for grouping both risk threats and risk opportunities.
7. Stakeholder tolerances - For theQualitativeRisk Analysis: What risks scores or impact and probability ratings will cause the threat or opportunity to move forward in the process. For theQuantitativeRisk Analysis: What Expected Monetary Value of both cost and time will cause threats or opportunities to move forward again in the process?

Include References.