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Assignment is to design and present a complete risk register associated with the scenario provided.  

Risk Register Assignment

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You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street travelling eastbound. South Street is a dual highway with a speed restriction of 45 miles an hour. There are three eastbound lanes and a concreate sidewalk. The bus shelter is set back from the roadway approximately 5 feet. To the rear of the bus shelter is a cul-de-sac surrounded by residential dwellings and a brick wall in close proximity to the bus shelter. The enclosed photos are provided to you as a resource to be used in completing the assignment.

Your supervisor discusses the project with you and requests that you develop a risk register associated with this project before work begins. You will need to identify potential risks including threats and opportunities, and develop a Risk Register in Microsoft Excel (.xls) format.

Your assignment, is to design and present a complete risk register associated with the scenario provided. Your risk register should include the following items:

Risk Identification – You are to identify and list at least five potential risks associated with this project. This list should include at least one opportunity risk. Each risk is to be clearly described so that it can be easily understood and relatable to the project.

Risk Category – Determine and list the corresponding category associated with each risk. For example, is the risk you identified associated with schedule, scope, budget, etc.

Likelihood/Probability – Estimate and list the likelihood of each risk occurring. You must identify and explain the scale selected. For example, you can use a high, medium, and low scale, however, this scale must equate to numerical values to provide for effective risk score calculation – i. e. High = 10

Impact – Estimate and list the impact on the project of each risk should it occur. You must identify and explain the scale selected. You may select either a qualitative or quantitative scale.

Rank – For each risk, calculate and list a Risk Score (i.e. Probability and Impact Score) which will enable you to rank and prioritize each risk. Then be sure each risk is assigned a priority number. You are not required to re-order your risks on the Risk Register.

Root Cause – For each risk, list at least one potential root cause that may be the true reason behind the risk being present. There should be one root cause associated with each risk. Each root cause must be clearly described and be understandable. For example, “poor planning” is not an acceptable root cause. You should also identify and briefly describe one root cause analysis technique you would use to assist in this discovery.

Risk Response Strategy – For each risk, create at least one response strategy to be used to address the risk should it occur. Your risk response should be clear and understandable. You should also identify and include the category of your risk response, i.e. Avoidance, Mitigation, etc.

Risk Response Cost – For each risk response, provide an estimated cost, to implement the strategy.

Risk Owner – For each risk list who will be the owner of the risk. You may create fictitious names and titles that can be used to complete this portion of the risk register.

Risk Status – List a hypothetical status for each risk. The status should be clear and understandable.

Other Fields – Identify at least one field you as the project manager would add to your Risk Register that may be needed for this specific project, or one that you believe will be helpful to your project team.

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UNIT 7 – Preparing a Risk Register

Individual Assignment

By

Shraddha Vyas

PMGT530-51-B-2019 – Procurement Contracts and Risk Management

https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/

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Risk Register Assignment

You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street travelling eastbound. South Street is a dual highway with a speed restriction of 45 miles an hour. There are three eastbound lanes and a concreate sidewalk. The bus shelter is set back from the roadway approximately 5 feet. To the rear of the bus shelter is a cul-de-sac surrounded by residential dwellings and a brick wall in close proximity to the bus shelter. The enclosed photos are provided to you as a resource to be used in completing the assignment.

Your supervisor discusses the project with you and requests that you develop a risk register associated with this project before work begins. You will need to identify potential risks including threats and opportunities, and develop a Risk Register in Microsoft Excel (.xls) format.

Your assignment, is to design and present a complete risk register associated with the scenario provided. Your risk register should include the following items:

Risk Identification – You are to identify and list at least five potential risks associated with this project. This list should include at least one opportunity risk. Each risk is to be clearly described so that it can be easily understood and relatable to the project.

Risk Category – Determine and list the corresponding category associated with each risk. For example, is the risk you identified associated with schedule, scope, budget, etc.

Likelihood/Probability – Estimate and list the likelihood of each risk occurring. You must identify and explain the scale selected. For example, you can use a high, medium, and low scale, however, this scale must equate to numerical values to provide for effective risk score calculation – i. e. High = 10

Impact – Estimate and list the impact on the project of each risk should it occur. You must identify and explain the scale selected. You may select either a qualitative or quantitative scale.

Rank – For each risk, calculate and list a Risk Score (i.e. Probability and Impact Score) which will enable you to rank and prioritize each risk. Then be sure each risk is assigned a priority number. You are not required to re-order your risks on the Risk Register.

Root Cause – For each risk, list at least one potential root cause that may be the true reason behind the risk being present. There should be one root cause associated with each risk. Each root cause must be clearly described and be understandable. For example, “poor planning” is not an acceptable root cause. You should also identify and briefly describe one root cause analysis technique you would use to assist in this discovery.

Risk Response Strategy – For each risk, create at least one response strategy to be used to address the risk should it occur. Your risk response should be clear and understandable. You should also identify and include the category of your risk response, i.e. Avoidance, Mitigation, etc.

https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/

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Risk Response Cost – For each risk response, provide an estimated cost, to implement the strategy.

Risk Owner – For each risk list who will be the owner of the risk. You may create fictitious names and titles that can be used to complete this portion of the risk register.

Risk Status – List a hypothetical status for each risk. The status should be clear and understandable.

Other Fields – Identify at least one field you as the project manager would add to your Risk Register that may be needed for this specific project, or one that you believe will be helpful to your project team.

https://www.coursehero.com/file/66678812/Unit-7-Risk-Register-Assignmentdocx/

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Project #: 1 Client: XY

Project: Upgrade of an old bus shelter PM: Kristin Becker

RISK

RISK

CATEGORY PROBABILITY IMPACT

RISK

SCORE

RISK

RANKING RISK RESPONSE

RISK RESPONSE

COST (ESTIMATED) RISK OWNER RISK STATUS

OTHER FIELDS/

TRIGGER

Weather

Conditions External Risk 0.7 0.6 0.42 1

Authorize additional

hours to be worked to

maintain the

schedule; Paid out of

a contingency fund

$1k – $10k per day

depending on term Project Manager Uncontrolled Uncontrollable

Delivery Delay External Risk 0.5 0.7 0.35 2

Have alternative

material/ material

from orther supplier

that can be received

to keep the schedule

$2k per day

Vendor

Relationships Team

Lead

Mitigated Insufficient

paperwork

Failed

Inspection Technical Risk 0.5 0.7 0.35 3

Implement inspection

schedule and regular

reporting

$3k per day Sponsor Mitigated Subcontractor not

following the plans

Shortage of

Staff (Illness) External Risk 0.5 0.7 0.35 4

Hire additional staff

from staffing

contractor; have at

least two extra people

$120 per employee

per day Project Manager Mitigated

Not hiring extra staff

to cover for sickness

Estimating

Errors Mgmt Risk 0.4 0.7 0.28 5

Have vendors

available to provide

any materials needed

within 1 to 2 days

$3k per day

Vendor

Relationships Team

Lead

Controlled

Completing the

estimate without

reviewing details

Plans not

ready on time Technical Risk 0.3 0.9 0.27 6

Charge the bus shelter

architect for any

additional costs

incurred due to the

delay in completing

the plans and

drawings

$4k per day Project Manager Mitigated

Architect not

planning schedule

respectively

Communicati

on Issues Mgmt Risk 0.5 0.5 0.25 7

Determine where the

breakdown in

communication

occurred and

implement lessons

learned; schedule

regular team meetings

and disucss any

issues with the whole

team as well as

external stakeholders

$1k – $10k per day

depending on term Project Manager Mitigated

Improper information

provided at the

beginning of the

project

Zoning Issue Technical Risk 0.3 0.7 0.21 8

Discuss with zoning

team and implement

contingency plan to

resolve issues at

earliest convenience

$5k per day Zoning Team Lead Controlled Insufficient research

Late Deliveries External Risk 0.3 0.7 0.21 9

Negotiate discount on

late deliveries to pay

for workers overtime

and make up for the

delay

$6k per day

Vendor

Relationships Team

Lead

Mitigated

lMaking late orders;

not using reputable

vendors

Subcontracto

rs behind

schedule

External Risk 0.4 0.5 0.20 10

Mention in contracts

that subcontractors

are responsible for

any overtime required

$6k per day

Vendor

Relationships Team

Lead

Controlled

Inadequate

manpower,

equipment and/or

materials

Permitting

delay Technical Risk 0.2 0.7 0.14 11

Have people in

permitting

department on

standby

$6k per day Project Manager Controlled Late request of

permits

RISK RESPONSEQUALITATIVE RATINGRISK IDENTIFICATION

RISK REGISTER

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