Question

You developed the WBS of multiple levels, including work packages at the low- est level based on the initial project requirements below, which were further elaborated. Building a single-family, partially custom-designed home as required by Mrs. and Mr. John Thomas on Strath Dr., Alpharetta, Georgia. The single-family home will have the following features: 3,200 square-feet home with 4 bedrooms and 2.5 bath- rooms Flooring hard wood in the first floor, tiles in the kitchen and bathrooms, carpet in bedrooms Granite kitchen countertops, GE appliances in the kitchen 3-car garage and external landscaping Ceiling 10 in first floor and vaulted 9 ceilings in bed- rooms High-level Assumptions and Constraints The list of options is limited and the cost of the house would vary based on options selected. The client must choose one from among the models offered. 7-year warranty for structure and 2-year warranty for finish- ing components After the WBS was developed, it is necessary to identify risks associated with the project and include prioritized risks in revising cost and schedule estimates. For this purpose, you were asked to develop a comprehensive risk manage- ment plan.

TASK TO COMPLETE:

Develop a risk breakdown structure in Microsoft Excel or in Microsoft word (using tables).

Answer 1

Risk Breakdown Structure for single-family, partially custom-designed home					Risk Breakdown Structure for single-family, partially custom-designed home
People	Deliverables	Time	Costs	Quality	Contract	Market	Category wise - Internal Risk	Category wise - External Risk
Labor Shortage	Probability of Technical Success	Schedule Delays	Estimating Errors	Warranty Exposure and Issues with approved Warranty	Lack of Clarity	Various Opportunity in the Current Market	Labour, Materials, Site, Sub- Contractor	Economic, Physical
Labor strike	Issues with parts and Components	Issue may arise with Schedules changes	Exchange Rates	Performance Issue	Disputes	Threats in current Market	Construction, Client, Design	Political
Skill Deficiency	Design not released officially and Under Approval Process,	Force Majeure	Issue may arise with Scope changes	Defect and Defective for various parts and Components/ Subcontractor Items	Failure and Performance issues with Subcontractor	Probability for the project success	Contractual, Internal Environmental	Technological Changes and Legal Obligation
Issue with Unions	Design those approved need review over time,		Penalty consideration		Funding		Company and Project Finance
Performance issue with Subcontractor People			Problem Escalation				Location and Management