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Risk Assessment Plan Essay

4148 words - 17 pages

Risk Management Plan |
Baylor University Dormitory Project |
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Presented by: |
Approved by: |
Version 3 |
10/16/2012 |
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Table of Contents
Table of Contents………………………………………………………………………………………………………2
Introduction…………………………………………………………………………………………………………….3
Project Description and Objectives…………………………………………………………………………………….3
Objectives of the Risk Process………………………………………………………………………………………3-4
Project Sizing…………………………………………………………………………………………………………..4
Stakeholders and Analysis……………………………………………………………………………………………..5
The Risk Process……………………………………………………………………………………………………….6
Risk Breakdown Structure……………………………………………………………………………………………..7
Probability-Impact ...view middle of the document...

The new facility will be comprised of two buildings each with four floors and a penthouse containing all of the main air handling units. State of the art building automation shall be incorporated in order to comply with new energy standards. The design shall include a fully integrated network with wireless internet connection throughout, a dining common area, two workout and recreation facilities, and a total of 684 living quarters.
Given the current state of the economy and the company earnings for the past two quarters, this project is considered a high priority. It is the first phase of a major campus expansion which will eventually include a new engineering research facility and a new football stadium. As the lead electrical contractor, Quantum Electric has accepted the responsibility for complete installation of the electrical, fire alarm, security, telecommunications, lightning protection, lighting controls, and building automation systems.
Objectives of the Risk Process
The goals of this project are to provide a new, all-inclusive set of dormitories for the students of Baylor University, which will in turn provide the campus with new selling points and a greater student living area for increased numbers. From the perspective of Quantum Electric, the goals of this project include successful completion of all work within the scope and all potential change orders as well as the establishment of a relationship with Baylor University as it seeks to expand its collegiate presence.
Based upon a preliminary analysis, risks for this project shall be quantitatively divided in three levels: low, moderate, and high. Due to the critical nature of this project’s success, only risks deemed to be of low level shall be considered tolerable. This risk management plan shall focus heavily on any risk that has a potential negative impact on project performance as well as any opportunity which may have a similar positive effect. Low impact risks shall be monitored, but under no circumstances are they to take priority over items of moderate to high level risk.
The goals of this project, as they are stated in all construction documents pertaining to the scope and its implementation, shall be met in the interest of all applicable stakeholders. As such, risks of any level can have at least a minimal effect. For this reason, Quantum Electric hereby accepts this risk management plan as part of it project management process for the duration of this project.
Project Sizing
| Criterion Value = 2 | Criterion Value = 4 | Criterion Value = 8 | Criterion Value = 16 | Criterion Value = 32 |
Strategic Importance | | | | | X |
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Commercial Complexity | | X | | | |
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Essential ConstraintsAnd Dependencies | | | | X | |
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Requirement Stability | X | | | | |
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Technical Complexity | X | | | | |
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Project Duration | | | X | | |
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