PROJECT RISK & OPPORTUNITY REGISTER Risk / Opportunity Identification Risk & Opportunity Analysis Post Treatment Risk & Opportunity Analysis Number Date Logged Raised By Status Type Description and Cause Proximity Theme Category Likelihood Consequence Level (pre treatment) Treatment Response Treatment Treatment Update Owner Residual Impact Likelihood (post treatment) Consequence (post treatment) Level (post treatment) 1 17/5/2017 Mr. Jones, Project Sponsors,External Active Negative Risk Problems of accessing the site: The first and foremost issue of Quota Park construction project is the problems of accessing the site of operations. The issues in accessing the site would result in causing the decreased functionality of the project. The unavailability of site access would have been major source of issue for hindering the processes of site operations. May-17 Client and Community People 4. Likely Major High Reduce Employing Site Supervisor: The Construction Project of Quota Park would require employment of a site supervisor for operating the site activities 6th June, 2017 Supervisor had been employed Mr. Alfred, Project manager Site issues had been resolved 3. Possible Moderate Medium Calkin, D.E., Cohen, J.D., Finney, M.A. and Thompson, M.P., 2014. How risk management can prevent future wildfire disasters in the wildland-urban interface. Proceedings of the National Academy of Sciences, 111(2), pp.746-751. 2 17/5/2017 Mr. Smith, Community Head, Quota Park, Client Active Negative Risk Changes in requirements of client: The changes of requirements of the client would also result in causing the issue of the system integration and development of pathway construction operations for the Quota Park. The major issues faced due to the changes in the requirements of the clients are dependent on the development factor of operations. May-17 People People 5. Almost certain Moderate High Share Using Waterfall method for implementing the changes quickly: The construction project of Quota Park could be implied with the help of Waterfall model for the operations of the construction project 10th June, 2017 Implemented and working Mr. Marshall, Civil Engineer, Project Team Change implementation is eased 4. Likely Minor Medium 3 17/5/2017 Nature Closed Negative Risk Changes in weather condition: It is a natural error/flaw in the system that could result in forming the error in the operations of the Quota Park construction project. The changes in weather are naturally occurring phenomena and it is possible that the development of functions would affect the operations of the organization. Jun-17 Environment Stakeholder/Community 3. Possible Major High Poor or Non-existant Surrogacy support startegies for the natural dangers: There is no possibility for completely avoiding or transferring the risk of natural weather changes for the construction project. However, the use of surrogate planning would allow the users for the development of the support for overcoming the loss by any natural weather issues in the construction project. 26th June. 2017 Startegies are being developed Mrs. Jones, Planner, Project Team No scope for improvement 2. Uncertain Moderate Medium Chance, D.M. and Brooks, R., 2015. Introduction to derivatives and risk management. Cengage Learning. 4 17/5/2017 Mr. Marshall, Civil Engineer, Project Team Active Negative Risk Designing issues for construction project: The major design issues in the Quota Park construction project are resulted by the lack of proper development functions in the organization. There are several functions that would end up in forming the designing issues in the construction project operations. Jun-17 Client and Community Information/ICT 4. Likely Moderate High Reject Proper Designing method should be followed for the construction project as it would allow the users for the development of the systematice development process for the operations. 1st July, 2017 Design had been made and reviewed Mr. Marshall, Civil Engineer, Project Team Design had been reviewed and renewed 3. Possible Minor Medium 5 17/5/2017 Mr. Jones, Project Sponsors,External Active Negative Risk Property Damages: The damage to the property is a major flaw in the development of construction project operations for the pathway construction at Quota Park. The property damage is a major flaw in the process of development of the project operations. Jul-17 Finance Information/ICT 2. Uncertain Minor Low Reduce Additional/Provisional resources for overcoming the risk factor would allow the users for the development of the effective and smart development factors for the organziation. 17th July, 2017Part of resource is kept as provisional Financial team Additional resources are bale to support the activities 1. Rare Insignificant Low Cole, S., Giné, X., Tobacman, J., Topalova, P., Townsend, R. and Vickery, J., 2013. Barriers to household risk management: Evidence from India. American Economic Journal: Applied Economics, 5(1), pp.104-135. 6 17/5/2017 Mr. Alfred, Project manager Active Negative Risk Delay in dispute commissioning: The delay in commissioning the disputes for the project operations and within the team members had resulted in causing the delay in functioning of the Quota Park construction project. The delay had been caused for forming appropriate development model for the project operations. Jul-17 Business and Governance Processes Stakeholder/Community 2. Uncertain Minor Low Enhance Following the government rules and regulations would help them in developing better startegies for dealing with the sudden inflation or economic changes issued by the government 20th July, 2017 Abiding by the rules Legal Advisor No legal obligations are faced 1. Rare Insignificant Low 7 17/5/2017 Mr. Johnson, Head Councillor, Economy Department, Government Closed Negative Risk Economics and Inflation fundings: The rise and fall of the economy is also another factor that has severe impact on the operations of construction project operations. The inflation had been severely impacting the development of operations, buying of construction materials, and payment to the workers in the Quota Park construction project. Aug-17 Business and Governance Processes Finance/Procurement 4. Likely Critical Extreme Fallback Developing plan in accordance to the inflation rates and returns would help in managing the costs of the construction operations of the Quota Park. It would allow the successful completion of the project operations and development of the effective planning methods. 16th August, 2017 Plan is reviewed and rectified Mr. Alfred, Project manager Plan is working properly 3. Possible Major High McNeil, A.J., Frey, R. and Embrechts, P., 2015. Quantitative risk management: Concepts, techniques and tools. Princeton university press. 8 17/5/2017 Ms. Levesque, Quality Analyst, Project Team Active Positive Risk Change Management Plan: Change management is another factor of risk for the Quota Park construction project operations. The risk factors would result in developing a sluggish operation of the project functions. The exhaustion of more resources is resulted from this risk factor of project. Sep-17 Client and Community Performance /Service Delivery 5. Almost certain Major Extreme Accept Improving the operations of the proejct for meeting the client's requirements would help the constructors of the pathways for the Quota Park for developing the effective and smart functionalities for the project 25th September, 2017 In progress Mrs. Jones, Planner, Project Team Operations had been rescheduled 4. Likely Moderate High 9 17/5/2017 Mr. Alfred, Project manager Active Positive Risk Competition among team members: The growth of tension among team members had resulted in developing the chance for development of operations. The significant development of construction operations had been causing appropriate functioning of the pathway construction for Quota Park. Oct-17 People People 5. Almost certain Major High Exploit Using the competition for enocuraging the team members to perform better would help the project managers of Quota Park construction project to encourage their team members for performing better in the construction operations. 12th October, 2017 Carefully omitted Mr. Alfred, Project manager Didn't bother to implement 4. Likely Moderate Medium Wynne, B., 2016. Misunderstood misunderstanding: Social identities and public uptake of science. Public understanding of science. 10 17/5/2017 Mrs. Jones, Planner, Project Team Active Positive Risk Completion of project is delayed: The delay in the project operations can be used for ensuring high quality of outcomes from the project. The increased profitability would allow the growth of the functions for the project. Oct-17 Client and Community Finance/Procurement 3. Possible Minor Low Enhance Ensuring the quality of outcome is superior than expected would help the users for developing the smart functioning of operations 27th October, 2017 Trying to reduce the time span Ms. Levesque, Quality Analyst, Project Team Development in progress 2. Uncertain Insignificant Low #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A