Project Management
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Project Name: | Concept Coffee Shop | Project Description Summary | This project is to provide an on campus coffee shop to the students of DeVry University. It requires changes in current building interior, negotiations with DeVry University, and coordination with a variety of contractors, vendors and suppliers. | Project Manager: | Date: | August 11, 2013 | Revision Number: | 1 |
a. Risk Identification:
I have made a list of all areas of this project that may cause delays or failure with their outcomes (listed below). The key risks for this project are identified by bolded font below and appear in the Risk Assessment Table in question “b”
1) Inclement weather-- could cause construction and opening day delays.
2) Lack of student interest in hiring process—could delay hiring process and opening day.
3) Delay in building permit and license approvals—could delay construction.
4) Over budgeting—could impact quality of equipment and supplies
5) Delay in delivery of equipment and supplies—could delay first preview
6) Delay in delivery of inventory—could delay second preview
7) Negative feedback during testing phase--could delay advertising.
8) Health and building inspections failure—could delay construction start date
9) General contractor not devoting enough time to project—could delay construction end date
10) Communication issues—could cause deviations from project goals and stakeholders’ vision.
b. Risk Assessment
The following is an assessment of project risks in terms of probability of occurrence and their negative impact on project outcomes. The below risk analysis attempts to quantify the severity of the impact of the previously identified risks, their probability and their sensitivity to change.
RISK SCORING MATRIX
Defined conditions for Risk Management Analysis | ProjectObjective | Relative or Numerical Scale | | Very Low - 1 | Low – 2 | Moderate - 3 | High – 4 | Very High - 5 | Cost | Insignificant
Project Name: | Concept Coffee Shop | Project Description Summary | This project is to provide an on campus coffee shop to the students of DeVry University. It requires changes in current building interior, negotiations with DeVry University, and coordination with a variety of contractors, vendors and suppliers. | Project Manager: | Date: | August 11, 2013 | Revision Number: | 1 |
a. Risk Identification:
I have made a list of all areas of this project that may cause delays or failure with their outcomes (listed below). The key risks for this project are identified by bolded font below and appear in the Risk Assessment Table in question “b”
1) Inclement weather-- could cause construction and opening day delays.
2) Lack of student interest in hiring process—could delay hiring process and opening day.
3) Delay in building permit and license approvals—could delay construction.
4) Over budgeting—could impact quality of equipment and supplies
5) Delay in delivery of equipment and supplies—could delay first preview
6) Delay in delivery of inventory—could delay second preview
7) Negative feedback during testing phase--could delay advertising.
8) Health and building inspections failure—could delay construction start date
9) General contractor not devoting enough time to project—could delay construction end date
10) Communication issues—could cause deviations from project goals and stakeholders’ vision.
b. Risk Assessment
The following is an assessment of project risks in terms of probability of occurrence and their negative impact on project outcomes. The below risk analysis attempts to quantify the severity of the impact of the previously identified risks, their probability and their sensitivity to change.
RISK SCORING MATRIX
Defined conditions for Risk Management Analysis | ProjectObjective | Relative or Numerical Scale | | Very Low - 1 | Low – 2 | Moderate - 3 | High – 4 | Very High - 5 | Cost | Insignificant