BBA 3626 Unit V Homework
Columbia Southern University
|Risk||Impact||Potential Causes||Potential Responses|
|Delays in Design/Concept||Build timeline gets pushed. Delays in future build aspects & other projects.||Buyer requests design changes prior to build start / not satisfied with original design concept.||Provide rendering/concept to customer to physically see design|
|Insufficient Budget / Unexpected Costs||Unforeseen costs may hamper other build phases and bust original budget.||Rust repair, metal work, custom fabrication, extra parts, man hours spent working unknown/hidden issues||Choose car w/ a solid foundation, no rust. Lessen custom fab work w/ off-the-shelf parts (or substitute where appropriate)|
|Material / Part Availability||Lack of availability of materials / specialty parts can delay build or increase material/part costs or require one-off parts||Custom requirements (one-off), large shows requiring popular parts to be purchased by multiple builders, defective parts, recalls||Communicate with vendors regarding parts/materials needs, ensure desired parts exist & are available for the timeline. Discuss alternatives that deliver same desired performance/expectations|
|Desired Changes from Buyer During Build||Changes in process of build will affect other design aspects-require possible re-work. Re-do’s/re-works will require increase in budget and time.||Customer wishes to add extra custom parts/aspects to build, color changes, new technology arrives during build, performance additives/Modifications||Offer buyer multiple options at beginning of build to lessen temptation to change. Build in options that may be changed at various points in the build (not requiring a decision prior to build).|
Unit V Homework
According to Kloppenborg (2015, p.276), a risk register is “a document in which the results of risk analysis and risk response planning are recorded.”
- The following is an example project for a high-end custom car build.
Custom Car Build Risk Register
Project Success Measures
Project success measures include meeting agreements, customer’s success, performing organizations success, and the project teams success (Kloppenborg, 2015).
|Success Measure||3 Risks||Major Risk||Contingency Plan||Avoidance or Mitigation|
|Meeting Agreements||-Insufficient Budget- Design Delays- Part Availability||Insufficient Budget||The contingency plan for insufficient budget is to begin the build with a solid car that has limited to no body or rust issues to reduce the amount of time spent working on these issues and to lessen the likelihood of hidden problems and future costs.||This contingency plan is both a mitigation and avoidance plan as it will reduce the probability that there will be hidden issues that require extra work and it will reduce the impact of these issues as anything that is discovered will likely be minimal and require only minor work to correct.|
|Customer’s Success||-Customer not satisfied with finished product-Product failures- Timeliness in order to attend specific shows / events||Customer not satisfied with finished product.||The contingency plan for ensuring the success of the customer and that the customer is satisfied with the finished product is to keep the buyer involved with the build from start to finish and to obtain input throughout each phase of the build prior to any design decisions being made to ensure that each aspect is exactly as the customer expects. This will eliminate re-do’s or the requirement to make major changes to the build along the way.||This contingency plan is an avoidance plan as keeping the customer involved in build decisions and up to date will reduce the probability that a customer will be dissatisfied with the product|
|Performing Org’s Success||-Outdated Products / tech-Poor Quality-Unpopular build||Poor Quality||The contingency to plan to combat poor quality is formulate a plan for inspection of each and every aspect of the build as it is completed and prior to moving on to the next step. Many aspects of a custom car build will be reliant on previous steps to ensure that every phase is top quality. Items that are identified as poor quality can be addressed prior to moving on to the next step. A prime example would be putting an excellent paint job on top of poor quality metal/body work.||This contingency plan is an avoidance plan as it reduces the likelihood of poor quality work being accomplished or delivered to the customer in the final product. Outdated products can be updated but poor quality can have a negative affect on market share and the possibility for new builds.|
|Project Team’s Success||-Deadlines-Work Hours-Lack of buy-in||Lack of buy-in||The contingency plan to address lack of buy-in, which can affect the project teams success, is to solicit ideas from the team on the build. Keep the team involved in build decisions and to look for new and better ways to accomplish the build. When problems arise within the build, ask the team for ideas on how we may be able to deliver the same high-level product while using alternative parts or methods.||This contingency plan may be considered both an avoidance and a mitigation plan as it will likely lessen the likelihood that the project team does not buy into ideas or specific aspects within the build as they have been given input and authority, but also it will lessen the impact if not all of their inputs or ideas are accepted and implemented.|
Sponsor / Stakeholder Priorities
It is essential that project managers and teams understand not only what a project calls for, but also what specific areas stakeholders would like to improve upon and which areas they are willing to sacrifice in order to make the desired improvements happen (Kloppenborg, 2015). Below is an example of what could come from facilitating a discussion with a sponsor and other key stakeholders, identifying their priorities. Stakeholders within this example wished to have the custom build delivered 40 days earlier than originally expected in order to have the vehicle ready for a trade show. The stakeholders were willing to sacrifice an additional $15,000 to the budget in order to accommodate the additional costs associated with delivering the vehicle ahead of schedule.
|Time||Want to deliver 40 days earlier than expected|
|Cost||Sacrifice $15,000 to build budget to complete build 40 days early.|
According to Kloppenborg (2015), a risk review allows project managers and project teams to review an array of documents related to a project in order to uncover possible unforeseen risks. It is essential to conduct a risk reviews to identify any potential risks that might present during a project. Three types of risk reviews used for this project include schedule, resource demands, and previous projects. When considering schedule within the risk review, we consider what milestones or phases of the build may become troublesome and could potentially lead to scheduling issues with not only this build, but other builds as well. It can be assessed whether or not stakeholders understand their role in the schedule and whether or not it is understood how design delays or changes may implicate future aspects of the schedule. Second, we could take a look at resource demands. We could assess and predict at what point team members may face extra work and time commitments that may lead to them becoming overworked and burnt out. We may be able to identify ahead of time what points of the build will require additional time commitments and compensate for this time prior to or after these specific phases. Finally, the third type of risk review used is to look at previous projects. In doing so, this allows us to look back at previous builds in order to identify previously encountered risks or countermeasures taken for possible risks on similar projects. This may allow for forecasting of risks and to properly plan ahead of time to avoid them.
Kloppenborg, T. J. (2015). Contemporary project management (3rd ed.). Stamford, CT: Cengage Learning.