Risk Management Plan- THIS RISK MANAGEMENT PLAN AND PROCURMENT MANAGEMENT PLAN IN THIS FILE IS MY PREVIOUS SUBMITED WORK NOW I NEED SAME WORK WITH EACH PLAN THAT MEANS RISK MANAGEMENT PLAN-1000 WORDS WITH SAME SIDE HEADINGS AND PROCURMENT MANAGEMENT PLAN -1000 WORDS WITH SAME SIDE HEADING IF YOU WANT TO USE ANY THING MORE TO RIGHT YOU CAN USE PMBOOK GUIDLINES Methodology All projects are exposed to risk throughout the project period. It is good practice to analyze and identify risk at an early stage whereby planning and monitoring are occurring. The risk management process for the Seqwater project involves the; - Identification of risk(s) - Quantitative analysis of risk(s) - Qualitative analysis of risk(s) - Providing a risk mitigation plan Roles and Responsibilities The Seqwater project is not a risk proof project and thus it has several people holding the responsibility of the various identified risk. - Project Manager – Responsible for financial and timing risks - Contractor – Responsible for all site related risks inclusive of materials and workmanship - Design Team – Responsible for all flaws in the design stage The above identified examples of risks are few of the many possible risks for the project; the project manager will be responsible for other risks at a very high level. The risks examples are; - Adverse climatic conditions - Natural calamities - Theft Budgeting The funding required to manage the possible risks that are probable to happen during the construction period of the project has been allocated in the contingency sum and is amounting to 5% of the total project cost. Timing The risk register is used here as a medium to report any risk that is to occur or has occurred throughout the project period at a regular interval. Risk Categories - Technical (regarding material’s quality, performance, aesthetics, anthropometrics, ergonomics) - External (risks that are not directly related, i.e. weather conditions) - Organizational (regarding approvals, funding drops, reports, among others) - Project Management Risks (all risks related the PMO, estimations, planning, etc.) Probability and Impact Matrix Project Objective Very Low 0.05 Low 0.10 Moderate 0.20 High 0.40 Very High 0.80 Cost Insignificant cost impact < 10% cost impact 10-20% cost impact 20-40% cost impact > 40% cost impact Schedule Insignificant schedule impact < 5% schedule impact 5-10% schedule impact 10-20% schedule impact > 20% schedule impact Scope Barely noticeable Minor areas impacted Major areas impacted Changes unacceptable to sponsor Product becomes effectively useless Quality Barely noticeable Only very demanding applications impacted Sponsor must approve quality reduction Quality reduction unacceptable to sponsor Product becomes effectively useless Occurrence Probability Risk 0.90 0.70 0.50 0.30 0.10 Impacts Risk Response Revised Tolerance by Stakeholders Tolerance for risks will be depending on the potential impact on the deliverables of the project and this will be in accordance to the allowed 5% of the total project cost for contingency regarding risks. Reporting Format The risk register is used as the reporting medium to keep record of risk and also for monitoring and managing them. Tracking Risk tracking will be unveiled in an audit performed by the project manager at the end stage of the project whereby the risks that occurred will be analyzed and any enhancement needed to the mitigation plan will be implemented. Procurement Management Plan Procurement Management Approach The project manager has the responsibility to coordinate a team who will identify all materials that are to be procured for the project. The procurement list will then be sent to the Project Management Office for review and approval. Contract Types A firm fixed price contract will be used for the procured materials and services. The contract’s main parties that are to be involved will be the vendor and the purchasing department under the aegis of the project manager. Procurement Constraints The procurement management plan must consider the constraints that are related to; - Cost: The budget should not exceed the fixed amount - Schedule: All procured materials should be made available in due time - Scope: All related scope of works must be in line with the procurement activities Scope The procurement scope is essential for the procurement process. It specifies which item is to be purchased at what time and when it will be needed. Cost Determination After the issuance of Request for Proposal to avail quotations from procurer’s, the cost will be determined. Responsibilities and Authorities Name Role Responsibilities Limitation Aman Project Manager Approve all procurements > AUS $ 5000 Decision Criteria The procurement contract will be awarded to the procurer after considering the following criteria. - Timely delivery - Expected delivery date - Cost - Quality - Procurer’s port folio Procurement Documentation The listed standard documents are to be used for procurement process; - Site requisition order complying with requirements - Quotations - Fixed contracts - Procurement evaluation form Procurement Risk All risks are subjects to be in the risk register and will be under the influence of the risk mitigation plan. Nevertheless for risks that require additional attention regarding procurement, the project manager has the responsibility to bring the issue forward in the project meetings. Reporting Formats The reporting formats regarding the procurement management plan will be as follows; - Procurement Log - Delivery Book - Material on site log Suppliers Performance Measurement All suppliers have to be evaluated before, during and after a procurement phase. Document (procurement logs, delivery book, procurement orders, procurement forms, etc.) with relation to all these happenings will be used to measure the Supplier’s Performance.