Risk Register Assignment
You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street travelling eastbound. South Street is a dual highway with a speed restriction of 45 miles an hour. There are three eastbound lanes and a concreate sidewalk. The bus shelter is set back from the roadway approximately 5 feet. To the rear of the bus shelter is a cul-de-sac su
ounded by residential dwellings and a
ick wall in close proximity to the bus shelter. The enclosed photos are provided to you as a resource to be used in completing the assignment.
Your supervisor discusses the project with you and requests that you develop a risk register associated with this project before work begins. You will need to identify potential risks including threats and opportunities, and develop a Risk Register in Microsoft Excel (.xls) format.
Your assignment, is to design and present a complete risk register associated with the scenario provided. Your risk register should include the following items:
Risk Identification – You are to identify and list at least five potential risks associated with this project. This list should include at least one opportunity risk. Each risk is to be clearly described so that it can be easily understood and relatable to the project.
Risk Category – Determine and list the co
esponding category associated with each risk. For example, is the risk you identified associated with schedule, scope, budget, etc.
Likelihood/Probability – Estimate and list the likelihood of each risk occu
ing. You must identify and explain the scale selected. For example, you can use a high, medium, and low scale, however, this scale must equate to numerical values to provide for effective risk score calculation – i. e. High = 10
Impact – Estimate and list the impact on the project of each risk should it occur. You must identify and explain the scale selected. You may select either a qualitative or quantitative scale.
Rank – For each risk, calculate and list a Risk Score (i.e. Probability and Impact Score) which will enable you to rank and prioritize each risk. Then be sure each risk is assigned a priority number. You are not required to re-order your risks on the Risk Register.
Root Cause – For each risk, list at least one potential root cause that may be the true reason behind the risk being present. There should be one root cause associated with each risk. Each root cause must be clearly described and be understandable. For example, “poor planning” is not an acceptable root cause. You should also identify and
iefly describe one root cause analysis technique you would use to assist in this discovery.
Risk Response Strategy – For each risk, create at least one response strategy to be used to address the risk should it occur. Your risk response should be clear and understandable. You should also identify and include the category of your risk response, i.e. Avoidance, Mitigation, etc.
Risk Response Cost – For each risk response, provide an estimated cost, to implement the strategy.
Risk Owner – For each risk list who will be the owner of the risk. You may create fictitious names and titles that can be used to complete this portion of the risk register.
Risk Status – List a hypothetical status for each risk. The status should be clear and understandable.
Other Fields – Identify at least one field you as the project manager would add to your Risk Register that may be needed for this specific project, or one that you believe will be helpful to your project team.
Risk Management Plan
Project Name> Version: 1.0 E
or! Unknown document property name.
Project Name
Design of Wastewater Treatment for town of Cam
idge
Risk Management Plan
Version Number: 1.0, 5/22/19
Version Date:
Note: Remember to include your project description.
Team – Team #
Team Members – Include All
1.
2.
3.
4.
5.
Team Members who did not contribute
1.
2.
3.
4.
5.
Team Assignment
No.
Section
Primary
Contributors
0
Project Description
Chirag
1
1.1 Purpose of the Risk Management Plan
2
2.1 Process
3
2.2 Roles and Responsibilities
4
2.3 Risk Identification
5
2.3.1 Risk Identification
6
2.4 Risk Analysis
7
2.4.1 Quantitative Risk Analysis
8
2.4.2 Qualitative Risk Analysis
9
2.5 Risk Response Planning
10
2.6 Risk Monitoring, Controlling and Reporting
11
2.7 Risk Contingency Budgeting
12
3.0 Tools and Practices
13
4.0 Closing a Risk
14
5.0 Lessons Learned
15
Appendix A – Risk Mgmt. Plan Approval
16
Appendix B - References
17
Appendix C – Key Terms
Project Name> Risk Management Plan Version: 1.0
[Insert appropriate disclaimer(s)]
Revision Date: 3/7/2023 7:05:00 AM Page 2 of 7
EPLC_Risk_Management_Plan_TemplateT.doc
Project
Description
The Town of Cam
idge has decided to move forward with building a new Wastewater Treatment Plant (WWTP) to treat existing and future flows. The cu
ent wastewater treatment plant doesn’t meet their Virginia Pollution Discharge and Elimination System (VPDES) permit and significant upgrades are needed to meet the new VPDES permit. Based on an approved Preliminary Engineering Report, designing and implementing a new WWTP has been found to be the most economical option to provide reliable treatment while meeting or exceeding the permit requirements.
VERSION HISTORY
Provide information on how the development and distribution of the Risk Management Plan will be controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date that particular version was approved, and a
ief description of the reason for creating the revised version.
Version
Numbe
Implemented
By
Revision
Date
Approved
By
Approval
Date
Description of
Change
1.0
TABLE OF CONTENTS
1.0 INTRODUCTION 4
1.1 Purpose Of The Risk Management Plan 4
2.0 risk management Procedure 4
2.1 Process 4
2.2 ROLES AND RESPONSIBILITIES 4
2.3 Risk Identification 5
2.3.1 Methods for Risk Identification 5
2.4 Risk Analysis 6
2.4.1 Qualitative Risk Analysis 6
2.4.2 Quantitative Risk Analysis 6
2.5 Risk Response Planning 6
2.6 Risk Monitoring, Controlling, And Reporting 7
2.7 Risk Contingency Budgeting 8
3.0 Tools And Practices 8
4.0 Closing a Risk 8
5.0 Lessons Learned 9
Appendix A: Risk Management Plan Approval 10
APPENDIX B: REFERENCES 11
APPENDIX C: KEY TERMS 12
INTRODUCTION
1.1 Purpose Of The Risk Management Plan
This Risk Management Plan defines how risks associated with the project will be identified, analyzed, and managed. In this section, you should outline how risk management activities will be performed, recorded, and monitored throughout the lifecycle of the project and describe at a high level the process to be used to record and prioritize risks by the Risk Manager and/or Risk Management Team.
isk management Procedure
2.1 Process
In this section, you are to summarize the steps necessary for responding to project risk.
2.2 ROLES AND RESPONSIBILITIES
In this section, you are to complete the roles and responsibilities chart, by describing the roles of the key players in your projects risk management program – i.e. Business SME, Project Manager, etc. and describe their responsibilities with respect to risk management on your project.
Role
Responsibilities
Project Manager
Project Technical Lead
Senior Project Engineer
Document Controller, Junior Engineer
2.3 Risk Identification
In this section, you are to identify who will be responsible for identifying risk, and provide a description of what information will be used to help to identify project risk – such as environmental factors, cost estimates, etc. a complete list should be included.
2.3.1 Methods for Risk Identification
In this section, you are to identify what specific methods will be used to assist in the identification of risks associated with your project. A complete list should be included.
The following methods will be used to assist in the identification of risks associated with
:
2.4 Risk Analysis
In this section, you are to generally describe how risks will be analyzed and describe how risks will be prioritized by their level of importance.
2.4.1 Qualitative Risk Analysis
In this section, you are to describe how you will use Qualitative Risk Analysis to conduct an analysis of potential risks to your project. You are to provide a description of who will conduct this analysis, who will assess the results of the analysis, and describe how you will define Probability and Impact – i.e. what scales will you use? You should also describe the priority level of risks that will require a risk response and contingency plan.
Probability
Impact
2.4.2 Quantitative Risk Analysis
In this section, you are to describe how you will use Quantitative Risk Analysis to conduct an analysis of potential risks to your project. You are to provide a description of who will conduct this analysis, who will assess the results of the analysis, and describe how you will define Probability and Impact – i.e. what scales will you use? You should also describe the priority level of risks that will require a risk response and contingency plan.
2.5 Risk Response Planning
In this section, you are to describe how you will conduct risk response planning. This should include how and to whom risks will be assigned, the approach(es) to be used to address each risk.
2.6 Risk Monitoring, Controlling, And Reporting
In this section, describe the methods and metrics that will be used to track the project’s risk status throughout the lifecycle as well as how this status will be reported to the stakeholders/ management. List factors that would need to be escalated to management. Examples: documented mitigation actions are not effective or producing the desired results; the overall level of risk is rising. This section should also include a description of how and where risk activities will be recorded and who will have access to this information.
2.7 Risk Contingency Budgeting
In this section, you are to provide the appropriate information to effectively outline and define the budget associated with the Risk Management activities on the project. You should identify the total budget allocated to risk management and identify how the budget can be accessed. You should also describe who has the authority to authorize expenditures.
Tools and Practices
In this section, you are to describe what tools and techniques will be used to record and track risks and who will be responsible for maintaining the information. You should also describe the process to be used in reviewing risks.
Closing a Risk
In this section, you are to describe the criteria associated with determining when a risk can be closed and identify who has the authority to close a risk.
Lessons Learned
In this section, you are to describe how lessons learned will be identified and recorded and where this information will be stored.
Appendix A: Risk Management Plan Approval
In this section, you are to prepare a format for, and describe who, will be responsible for reviewing and signing off on the plan. You should be sure to list the individuals whose signatures are desired. Examples of such individuals are Business Owner, Project Manager (if identified), and any appropriate stakeholders. Add additional lines for signature as necessary.
APPENDIX B: REFERENCES
In this section, you are to utilize the table to list the documents associated with your risk management plan. Include the name of the document, a
ief description of the document, and where the document will be physically located for staff to access each. You are to list at least three documents that you will use in the risk management planning of your project.
The following table summarizes the documents referenced in this document.
Document Name
Description
Location
APPENDIX C: KEY TERMS
In this section, you are to list the terms and a definition for each one used in your risk management plan. You are to list at least three terms and their associated definitions. You are to select the terms which you believe may be the most difficult to understand or may offer a double meaning.
Term
Definition
[Insert Term]
1
Revision Date: E
or! Unknown document property name.
PMGT 530 Risk Management Plan Template Page 5 of 7
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