Risk budgetHHCost and scopeLack of Availability of leasing

Risk Management Plan 50TH KITCHEN HEAVEN RETAIL STORE project manager chandan deep singh aman deep singh 13 April 2018 Project Risk Management Approach There are manyapproaches to project risk managementplan but the purpose of the Risk Management Plan isto identify the risks that can be defined at any stage of theproject life cycle. Risk management takes a project throughout the phases of risk identification, risk assessment and risk resolution. It also defines how a project team will handle risks to achieve that goal. Impact of risk Risk can have either a positive or negative impact on project objectives. Some risks could, if they arise, have terrible impacts to the project. But some risks actuallyopen up many invisible opportunities.For example, a positive risk might be that your servers because demand suddenly sharp for your project. Thats a good problem to have. Potential risks include the following Technical Cost Schedule Client Weather Financial Political Environmental People The project manager chaired the risk assessment meeting and distributed notepads to each member of the team and allowed for sometime for all team members to record as many risks as possible. They will monitor the risks by Expert Interview Risk Assessment Meeting Historical Review of Similar Projects Risk responses 1.Avoid Risk can be stayed away from through execution of task in various path or by disposing of the reason for chance. 2.Transfer It includes exchanging the risk to outsider (third party) who will assume the liability. 3.Mitigate Mitigate involve the process to reduce the probability or impact of risk. 4.Accept This procedure is connected when there is no any method to for all intents and purposes kill or react to chance. Tracking of risk Bi-weekly project team meeting The Risk DatabaseRisk Identification and Assessment Step 1 Risk IdentificationStep 2 Risk AssessmentSTEP 3 MANAGING RISKSIDRisk NameImpact (H/M/L)Likelihood (H/M/L)Dimension (Cost, Schedule, Scope, etc.)TriggerResponse StrategyDescribe responseAssigned to1Affluent store location in Colorado spring area with in planned budgetHHCost and scopeLack of Availability of leasing agentsAvoidSigning a local dealer to crack the deal for the area required for the project. This will save the project management teams time as well as moneyProject manager (Chandan Aman)2Finishing of store build-out in more than 120 days due to bad climateHHCost and scheduleMitigateThe store build-out is the most essential deliverable of the project. The store work outs postponement can delay the store-opening date and wont meet undertaking necessity. we will screen the climate figure of January at that point work with constructor to reduce length of a few undertakings by approve their team to work extra time or pay for extra member.Project manager (Chandan Aman)3Labor strike during the projectHMCost, Schedule and scopeMitigateWe should update the monthly report of contractor that he is paying wages to his labor on regular time period. If the strike is happened we will work with constructor to deliver the best solution to bring all staff back to work. In the poorest case, we will need to work with another constructor in order to keep project on plan.Project manager (Chandan Aman ),Jake Peterson4Incident during the construction of projectMHScope, schedule and costMitigate We should hire a safety department which will provide proper training how to work on construction site and labour must wear their safety clothes and accessories like helmets and gloves .Project manager (Chandan Aman)5 Bad weather and Natural disaster on day of grand opening M M ScheduleAccept We should estimate about weather by forecasting. Project manager (Chandan Aman)6 T1 line availability and installation LLScope,IT connection manager is too busy in current time, due to hectic sheduleMitigate By installing T1 connections before installing date Ricardo7 Delivery dates for product MM ScheduleVendors are too busy due to more deliveriesMitigateJill Overstreet8 Construction team is not available when required.HM Cost, schedule Mitigate It can be mitigated by compressing schedule of tasksProject manager (Chandan Aman ),Jake Peterson10 Contractor availability M M Schedule, Cost Transfer There should be a backup contractor as mentioned in case study.Ricardo11 POS and server hardware availabilityM MSchedule, cost Transfer Rental option for these instruments is very important, because in the delay period of purchased instruments then we can pay rent for these instruments. Ricardo12Quality of food may be low on celebration of 50th storeMLScopeTransferthis risk can be response by selecting the experience chefs from the market and will do a deal to make if there will be something wrong then there will be deduction of 30 from the total payment of chefs. Jill Overstreet Proposed Review Dates Date 13 APRIL 2018Date 13 APRIL 2018 Date 13 APRIL 2018Date 13 APRIL 2018 Date 13 APRIL 2018Reviewed By TEAM 12Reviewed By TEAM 12Reviewed By TEAM 12Reviewed By TEAM 12Reviewed By TEAM 12 PAGE PAGE 5 s9okc,5_jl1 241.Xr FNpmL)aZXurDtf/UC0gLqWn_BYH.vNDt2.V_FxnU ,FEbxf mo
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