Create a risk management plan based on the case study ( building a dream house) from Week 2. Because this is an individual assignment, you are not to work with your group. You are to identify at least 10-15 risks. Be sure to include 2-5 positive risks. You are to complete a risk management plan, starting with identifying the risk, performing qualitative or quantitative risk analysis, and completing risk response to prepare for monitoring risks. Your output will be a risk register, found in the PMBOK Chapter 11. Be sure to use the project you identified in Week 2. Week 2 case study Executive Summary This document defines the Project Charter for a project to build the house for Mr. Jean Tiodace and family in the area with main intersection Sheppard Ave and Warden Ave, Orlando, FL. This Project Charter describes the purpose, scope, objectives, estimated cost/ effort/ duration, risk and constraints, assumptions, approach and organization. The project will commence on July 1, 2021 and will complete no later than July 1, 2022. The purpose is to complete on time all the stages: acquiring the land, getting all necessary permits and approvals, constructing the house, landscaping, exterior and internal decorating. The scope is that within the budget of $600,000 the property to include: foundation with basement, landscaping, driveway, two-story house with four bedrooms and an office, two-car garage, and deck/patio. Project Overview This project is being assumed to construct a new house for Mr. Jean Tiodace. This construction will be a singlefamily house with four bedrooms, an office and a two-car garage, built on a two-acre lot located in the area with main intersection Sheppard Ave and Warden Ave, Scarborough, Ontario. The project will start on July 1, 2021 and will complete no later than July 1, 2022. This home will be constructed using the newest building materials and codes and will involve a new technology in order to minimize the energy consumption. Construction will be managed by The Estate of Credit Ridge, the prime contractor who might subcontract the construction work. Project Purpose The purpose of this home project is to establish a new primary residence for Mr. Jean Tiodace and his family. The project will carry out all phases from getting the land, getting approvals and permits for all essential documents, building the house, and finishing landscaping and internal designing. 1 Project The new house is planned for completion in July 2022, thus Mr Tiodace will be ready to furnish it and move in during the first weeks in July 2022. Project Scope This construction has a fixed price. In order to complete this project, the commitment of contractor is estimated by $700,000. At the end of the project, the residence will include: Landscaping Basement Driveway – concrete with brick Utilities (hydro, gas, water, etc.) 3 floors – 4800 square feet Two-car Garage – 1500 square feet Deck / Patio Project Objectives This information is based on a format used in (Project Charter Example, n.d) In order to finish this house project by July 1, 2022, progress milestone for this project is listed below: 1. Planning: Get a land Obtain permits Arrange hydro, gas, water, etc. system. 2. Design: Architectural sketches (exterior and interior) complete and approved. 2 Project Completion of excavation Landscaping Utilities 3. Exterior Construction Foundation Timber frame Walls Roofs Driveway & Landscaping Doors & Windows 4. Interior Construction: Plumbing Wiring system Interior decorating 5. Certification of Occupation granted 6. Acceptance review and sign-off complete Project Estimated Effort/ Cost/ Duration Estimated Cost: $ 600,000 – $700,000 Estimated Effort Hours Start Date: July 1, 2021 Finish Date: July 1, 2022 The construction is implemented five days per week and 10 hours per day. Estimated Duration (milestones) 3 Project Milestone Date Completed Deliverable(s) Completed Project Planning 02/08/2021 Project Charter Schedule Decide and buy land 04/30/2021 Ownership of the land Deliverable 2 Conduct of architectural drawings and ask for permit of building 06/15/2021 Architectural drawings (exterior & interior) Permit of building Excavation 08/01/2021 Completed excavation Foundation 10/01/2021 Timber Frame Utilities system 12/01/2021 Hydro Water 4 Project Gas, etc. Exterior Design 01/01/2022 Home and garage Windows & exterior doors Construction of driveway and landscape Roofing & Flashing Wiring System 03/01/2022 Interior and exterior wiring Occupation Permit 04/15/2022 Certification of Occupation granted Decoration 04/15/2022 Interior and exterior decorating Project Conclusion 07/01/2022 Acceptance review Key turnover complete Project Assumptions Within this project, it is assumed that: Final planning permission will be approved by the owner within the timeframes required All necessary suppliers, resources, materials and services will be available as required by the project. The prices of raw materials will not increase more than 10% during the course of the project. 5 Project Weather conditions will be favourable for exterior constructions during the project. Project Risks Risk Area Level (H/M/L) Risk Plan Alternative Solutions 1. Financial Risk M L May run over budget of project May not stable in future income Plan for each sequence to effectively manage the cost Reduce some amount of interior decorating Loan from a bank 2. Technical Risk M M M Tin-roof may not set up well Maybe sub-standard for constructing materials Maybe not decorated well for interior designing Have a plan B for another supplier of constructing materials Get owner’s approval for each done section. 6 Project 3. Execution Risk L L M Fire Burglary Leak/Non-Weather Proof Hire security for overnight shift and weekend. Temporarily cover the construction with a waterproof tent 4. Contractual Risk L May be delayed for approval of building permit Use the network or relationship to reach the approval of building permit (but if really necessary) Project Constraints There are some identified constraints for Jean’s house building project, including: Scope Constraint: 85-90% of a house must be done before April 2022 and 100% of completion before sign-off date by July 1, 2022. Time Constraint: completion: Exterior must have protective completed Roof must be done Interior designing is completely done before turnover the key Cost Constraint: only $700,000 maximum budget Resource Constraint: availability is based on the working schedule: Monday – Friday: 8.30am – 5pm Saturday: (if necessary) 10am – 4pm 7 Project Weather Constraints: exterior constructing depends on weather condition (snowy or rainy days) Project Dependencies Project Date Due Deliverable Dependency Permit of building approval 06/15/2021 Late for starting to excavate Exterior design 01/01/2022 Interior design, landscaping, plan utilities, and foundation Excavation 08/01/2021 Foundation poured, block construction and foundation set Foundation 10/01/2021 Timber frame and landscaping Wiring system 03//01/2022 Operation of electric services Project Approach Prime contract’s responsibilities are as followed: Keep track all project documents and schedule Take a duty for all subcontract oversight, deliverables and management. Agrees for the fixed-price contact and schedules. 8 Project Perform his/her responsibility of completing tasks with contractor’s own employees, verifying all sub-contractor and own employees. Hold meeting in order to solve problems as well as tracking the progress by weekly or bi-weekly. “The penalty of 12% single quarter for any project employee without proof of proper trade license and credentials will be applied.” (Project Charter Example, n.d) Project Organization – Roles and responsibilities Name Role Position Contact Information [email protected] Jean Tiodace Project Sponsor Owner [email protected] Nicoleta Dinovici Project Director General Contractor [email protected] Suri Dinh Project Manager Constructor Manager [email protected] Kevin Chan 9 Project Project Advisors Architecture [email protected] John Hollwan Project Advisors Civil & Structural Engineers [email protected] David Schwalle Project Advisors Plan Examiner & Filed Inspector [email protected] Project Team Members Plumbers, electricians, painters, etc. All workers are employed in the organization and assigned to work in this project Project Approvals The funding for the home project has been preapproved by the owner and placed in a special account. Contractor may withdraw quarterly payments of the same amount starting with the second quarter after the work started. The owner will withhold the payment for the first quarter until the work is complete and approved. Once the close of the project will be accepted, the owner will provide final payment to contractor, and contractor has to present invoices for the close of each quarter.
