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Project Risk Management

UCI Project Management Certificate MGMT X474.1 Paul Henry
by

soeung yuen

on 9 March 2013

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Transcript of Project Risk Management

Risk Management
Plan Process Team Four Y's & One H Project Risk Management
MGMT X474.1
Professor Paul Henry #1 Risk: Buyer Pulls Out Of The Sale
Probability 4, Impact 5, Severity 20
Response plan: find new buyer Allows ABC Company to redesign the office space to improve productivity
Reduces monthly maintenance costs from $20,000 to a minimum of $14,000 by leasing the office space
Decreases operation costs from $10,000 to $8,000 by downsizing the warehouse and service desk office
Unanticipated expenses due to owning the current location Business Justification Work Breakdown Structure (WBS) Project Description ABC Company office relocation to reduce overhead costs inclusive of maintenance and operational expenses, and to maximize profits
Down-sizing the current facility from 9600 sq. ft. to 4500 sq. ft. to allow better utilization of facility space. Office Relocation Project Top 5 Risks Response Plan Sketches Scope Of Work Includes:
Planning
Execution
Selection of new site
Implementation within a 60 day period

Selected Moving Vendor Requirements:
Completion of preparation, transport, and unloading within 45 days from the moving start date
Availability during entire duration
Licensing and insurance coverage

New Site Leasing Company Requirements:
Provide a contractor for new site internal modifications
Available on date of move-in determined upon sale of completion of old facility Risk Identification
(Cont'd) The Four Y’s and One H project team and project sponsors will ensure that risks are actively identified, analyzed, and managed throughout the life of the project. Risks will be identified as early as possible in the project so as to minimize their impact. A Risk Management Log will be generated and updated as needed and will be stored electronically to be accessible by the project team. Risk Identification TIM HEER : CHRISTINE YANG : VANESSA YIEH : CHRISTIAN YOUNG : SOEUNG YUEN Q & A Risk identification will involve the project team, appropriate stakeholders, and will include an evaluation of the project scope.

Careful attention will be given to the project deliverables, assumptions, constraints, WBS, and other key project documents. Current Status #3 Risk: Materials Are Not Ready For Construction
Probability 3, Impact 4, Severity 12
Include penalties in contract for delays in construction #4 Risk: None Of The Locations Selected Are Available For Move-In Date
Probability 3, Impact 4, Severity 12
Negotiate an extension on move out date with buyer #5 Risk: Delay In IT Implementation
Probablity 3, Impact 3, Severity 9
Plan with IT Services to implement as soon as new location is available #2 Risk: New Location Is Not Ready To Move In
Probability 3, Impact 5, severity 15
Response plan: monitor new office construction Sitting down with the buyer to negotiate purchase to begin the project 31 Risks
Identified Top 5 risks identified by assigning a score of 1 to 5 for Probability and Impact. The product of Probability and Impact results in the severity of the risk identified. Benefits of Risk Management Identify risks that could delay our moving schedule
Clearly define the contract agreement with the buyer and vendors
Full transcript