You are the owner and Project Manager (PM) of ABC Construction Company. Your company specializes in designing high-quality, customized homes in the Greater Toronto Area (GTA). You have just been hired by the Johnson family to build them their dream home. You run a small operation and there are only two employees; you as the PM and a part-time accountant. All of the other work (e.g. electrical, plumbing, HVAC, drywalling, etc.) gets outsourced and subcontracted to trade professionals in the GTA. Housing construction in the GTA is really growing. At the moment, you are scheduled to complete 11 houses this year. You have promised the Johnson family that the final costs for their home will range from $950,000 to $1,000,000. It will take approximately five months to build their home as soon as groundbreaking starts. The Johnson family is on a tight budget and are wiling to delay the project to save costs

Each group will now assume they are the PM for ABC Construction Company. However, each group will create a mini-PowerPoint presentation based on only one of the following seven (7) topics listed below.

Risks and Mitigation Strategies Create 6 slides that include the following:

Cover page Agenda

1 slide as a Table for each of the elements listed below

1 slide to talk about 5 tips for controlling risks on a construction project like this

Conclusion - as a group, what did you learn from this exercise?

1 slide with a list of at least 3 references

Identify at least 5 risks for your project

Provide a description of the risk

Assess the Probability and Impact of each of the 5 risks

Calculate the Score for each of the 5 risks (Probability x Impact)

Develop a Risk Response Strategy (i.e. how will you respond to each of the 5 risks - transfer, mitigate, accept, or retain?)

What is your contingency plan for each of the 5 risks? What is the potential trigger for each contingency? What is the status for each risk (open, closed, or in-progress)?