What is the budget for risk management

Reference no: EM133380936

Assignment:

You are a project manager at Fabulous-Houses-R-Us (FHRU) located in London, Ontario. You are assigned as project manager on the following project for the Falcon family (owner). FHRU is a general contractor that subcontracts work to professionals in the London area. You will have a site superintendent (employee of FHRU) available for the project for 50% of the time to provide direction to and overview of the subcontractors. The Falcon family already owns the land on which the house will be built.

Project Scope Statement

Project Objective: Construct a custom home within seven months at a cost not to exceed $600,000 (not including cost of land; HST extra).

Deliverables:

• A two-storey 2600ft2, 2½ bathroom, 3 bedroom, 1 office/den finished home with unfinished basement

• Finished and insulated garage

• Concrete driveway

• All appliances: refrigerator, dishwasher, range, washer, dryer

Milestones:

• Start of project August 15

• City of London and other permits approved by September 15

• Foundation placed by October 15

• House in dry condition (roof on, walls intact) November 30

• City of London final inspection by February 15

• Completion (move-in ready) and transfer to owner by February 28

Technical Requirements

• Satisfy Ontario Building Code and City of London bylaw requirements

• Satisfy Ontario Ministry of Labour health and safety requirements

• Garage must accommodate two vehicles plus a 12x10 ft workshop area

• Include electrical system for a future backup generator

• Solar power generation for minimum of 20% of peak electricity needs

• High efficiency natural gas furnace with HEPA air purifier

Limits and Exclusions

• The home will be built to the specifications and design drawings as provided by the owner at the start of the project.

• The owner is responsible for landscaping

Customer/Owner Review

• Pat and Sam Falcon

Write Risk Management Plan on the above Project and cover the below points in detail.

Budgeting - What is the budget for Risk Management and what is the protocol to derive contingency and management reserves for the project budget?

Timing - Which risk management processes are to be used when, and how often will they be performed?

Risk categories - Identify the means for grouping both risk threats and risk opportunities.

Reference no: EM133380936

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