New plant in Huntsville, Alabama
Project Risk, Communication Plan & Documentation
Name: Olatunbosun Osuro
Instructor: Gloria Durham
PM 586 Project management systems
Email: bosun.opere@gmail.com
Phone: 612-220-0454
Project Communication Plan
Project communication plan defines the generation and distribution of a project documents among project stakeholders throughout the project (Clements, 2009). Project communication plan will allow stakeholders to have a medium of sharing information efficiently among the project team. It’s very important to share information for the successful completion of a project. As the Project Manager I will make use of the communication plan tool to provide directions to stakeholders, highlights
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This shows that without adequate response to the likelihood of minimizing the occurrence of the risks.
As the project manager, I will develop the risk management plan to avoid or mitigate the risk before affecting the project deliverables.
The risk response would be as follows: 1. To avoid against the resource management risk is to review the schedule plan and allocate adequate number of personnel and construction workers that can finish the task before the due date or ahead of schedule date. 2. To avoid against the license/permit risk, as the project manager must communicate with the team members assign to get the appropriate license/ permit from the government before the start of the project 3. To avoid against building design risk, as the project manager would have to communicate with the architect on ways to expedite the process before the start of the project 4. To avoid against building material risk, as the project manager make sure that the materials are deliver ahead of time by communicating effectively with the vendors and make sure the bills are paid on time. 5. To avoid against equipment’s procurement risk, as the project manager make sure that the production specialist and the manufacturing engineer work hand in hand in the
Working to understand the risks a project may endure along with the cost associated is critical in every project management plan. Understanding potential risks based on the project type, resources needed, timeline and budget still leaves gaps that creates uncertainty for actually predicating the outcome of the project. There is not a true way to predict when and where a project risk will occur but designing a plan to properly address and manage those risks will increase confidence while eliminating the element of surprise.
Indeed, Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project. (PMBOK Guide - Fifth Edition, 2013).
This is to ensure that the necessary raw materials and physical resources are available at each stage, and that the workforce on site has the right skills for the scheduled work. The project management team will need to produce a series of planning documents that can be accessed throughout the project. Each member of the project management team must know their role and responsibilities, including which sections of the workforce they will be directly managing.
3. Risk acceptance is especially useful for the risks with low likelihood. For a smaller
The following short case will give you a good idea of how risks surface in business and project planning and what companies do about it. Consider that you are the Risk Manager as you look at this case, as it will be a good exercise for the time when you will be that Risk Manager!
In a project the communication level is a very important part from the beginning to the end of project close out and completion stage. This method in the plan is extremely necessary and it is a needed tool that helps assist the project team, the stakeholders, and the executive team of Enterprise. This tool is effective and it makes sure all members involved with the project is on the same level of understanding, it makes sure all involved stays updated on the
in order to protect the quality of the project in the event that technical difficulties in the construction
When the manager of project carried out its work plan should take into consideration the possible risks that may occur within the project. The risk is the possibility that occurs a problem within a project and that may cause some change within the same (Heldman, 2011). It should be noted that not all risks are bad since they can be potential opportunities to make some changes that will improve the overall status of the project. In the same way a risk not taken into account in time can create one problem in the project and can completely change the final performance of the project. The project manager can take several elements to identify the risks. Some elements and documents that can be used to identify risks are: search internal risks of the project, such as resources
All efforts will be made by the Project Manager to plan for and handle any risks. Continual risk monitoring will be done by the project manager throughout the projects duration.
Risks management is an important step during the process of a project. Failing to manage a risk may result in unforeseen event happening and a project’s failure. For example, with limited budget, an unforeseen event or an accident occurs in the middle of a project and this matter has not been considered and needs a big sum of expense, then the project may be stopped because of this unexpected event. We should know it is necessary to understand how to identify risks and assumptions based on the information. After identifying risks, it is important for project managers to set contingency plans to prevent and deal with these risks when they occur. Of course, several problems may happen during considering
Risk or threat is common and found in various fields of daily life and business. This concept of risk is found in various stages of development and execution of a project. Risks in a project can mean there is a chance that the project will result in total failure, increase of project costs, and an extension in project duration which means a great deal of setbacks for the company. The process of risk management is composed of identifying, assessing, mitigating, and managing the risks of the project. It
Definition: A Risk is an unwanted situation which might arise in an organization which might lead to negative impact on the desired result. Risk management plans involves the analyzing, managing and evaluating the projects risk and threats. It involves layout of the entire project i.e from the beginning during and after results of the project.
Project Risk Management – identifies potential risks (good and bad) that can affect the objectives of the project.
In order to perform project risk management effectively, the organization or the department must know the meaning of the risk clearly. With regards to a project, the management must focus on the potential effects on the objectives of the project, for example, cost and time (Loosemore, Raftery and Reilly, 2006). Risk is a vulnerability that really matters; it can influence the objectives of the project
The project manager working with the project team and project client will ensure risks are actively identified, analyzed and managed throughout the life of the project. Risks will be identified as early as possible to minimize their impact. This can be done using several ways like