Construction Project Management (CPJ2)
Donald J. Smith School of Building Technology
Course Code: CONS-6006-24W
Course name: APPLIED CONSTRUCTION PROJECT MANAGEMENT
Professor: STEVE TOLL
Group no: 26
Assignment no: 03
Assignment name: Risk Identification and Assessment
Student Name Student’s Contribution
Victor Nwagbologu - 1187349 Worked on everything together
Saurav Thakur - 1120179 Worked on everything together
Arush Sharma - 1169656 Worked on everything together
Adarsh Vadivel - 1192739 Worked on everything together
Sai Sharan Goud Yerra - Worked on everything together
1154525
Risk Number Risk 1 Risk 2 Risk 3 Risk 4 Risk 5
Risk Event Severe weather Insufficient Technical issues Limited Sudden
Description conditions such as funding from with the design or availability of withdrawal or
heavy snowfall or sponsors or functionality of the suitable reduction of
thunderstorms grants may hinder movable facility locations for the sponsorship
could halt the completion of may arise during installation of support may lead
construction the project. the construction or the Finance to budgetary
progress. testing phase. Park facility may constraints and
cause delays or project instability.
compromise the
project's
effectiveness.
Risk Construction delays Insufficient Technical issues Limited space Sponsorship
Consequence due to adverse funding could may require availability may withdrawal could
weather conditions lead to budget additional time and force the result in program
may result in overruns, scope resources to project team to cuts, reduced
missed deadlines reductions, or the resolve, potentially compromise on staffing, or the
and impact the need to seek impacting the location or inability to
availability of the alternative quality and facility features, provide necessary
facility for student sources of functionality of the affecting the resources for
use. financing, Finance Park facility. overall student
delaying project educational engagement.
completion. experience for
students.
Risk Response Monitor weather Diversify funding Conduct Proactively Maintain strong
forecasts and sources by comprehensive scout potential relationships with
implement seeking additional testing and quality installation sites sponsors through
contingency plans, sponsors, grants, assurance checks and secure regular
such as adjusting or fundraising throughout the agreements communication
construction opportunities to design and with property and collaboration
schedules or mitigate the risk construction phases owners to and develop
securing temporary of budget to identify and ensure timely contingency plans
shelter, to minimize shortfalls and address technical and suitable to address
the impact of ensure project issues early, location potential funding
adverse weather continuity. minimizing the risk availability for fluctuations or
on project of delays or rework. the Finance sponsorship
progress. Park facility. changes.
This risk response plan outlines the risks, their potential consequences, and proposed responses
to mitigate or address each risk associated with Junior Achievement Finance Park project.
Risk Number Risk 6 Risk 7 Risk 8 Risk 9 Risk 10
Risk Event Inadequate Equipment Security Lack of Changes in
Description training provided breakdowns, breaches, community regulatory
to staff members such as including engagement requirements or
responsible for malfunctioning vandalism or and support compliance
operating the computers or theft of may affect the standards may
facility may audiovisual equipment, may project's long- necessitate
result in systems, could occur if proper term adjustments to the
inefficiencies or disrupt student safeguards are sustainability project design or
errors during activities and not in place to and impact on operations.
student sessions. impact the protect the students.
overall facility.
educational
experience.
Risk Inadequate staff Equipment Security breaches Lack of Changes in
Consequence training may lead failures may could damage community regulations may
to inefficiencies, disrupt student property, disrupt support may require costly
errors, or safety activities, operations, and limit the updates or
hazards during leading to undermine the project's reach modifications to the
student sessions. frustration and safety and and impact, project, impacting
detracting from security of affecting timelines and
the learning students and student resources.
environment. staff. participation
and long-term
sustainability.
Risk Provide Establish Implement Engage with Stay informed about
Response extensive regular robust security local relevant regulations
training and equipment measures, stakeholders, and standards, and
ongoing support maintenance including schools, and proactively adapt
to staff members schedules and surveillance community project plans and
to ensure protocols, as systems, access organizations to procedures to
competency in well as controls, and build support remain compliant
operating the contingency staff training, to for the project, and minimize the
facility and plans for rapid protect the foster impact of regulatory
delivering high- repair or facility and its partnerships, changes on project
quality replacement in assets from and ensure its timelines and
educational the event of unauthorized long-term budgets.
experiences to equipment access or success and
students. failures. damage. sustainability.
This risk response plan outlines the risks, their potential consequences, and proposed responses
to mitigate or address each risk associated with Junior Achievement Finance Park project.
