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Assignment 4: Project Progress

Sherita Pittman

BUS 519 Project Risk Management

Professor Paul Richardson

December 5, 2016
Project Process Introduction

I will be discussing the top-two threats that have occurred in the Environmental Quality

International project risk workshop. I will analyze the top opportunity realized in the

Environmental Quality International’s project risk workshop. Elaborate on the project’s risk

budget in the Environmental Quality International’s project risk workshop. Provide risk

management schedules/charts/graphs as it is shortened to two months. I will analyze the impact

of those events on the project. Conclude if any mitigation activities are essential and clarify.

Allowing me to determine if budget and/or schedule changes are necessary. By implementing all

the information provided, I will be able to update the risk register and highlight the changes

made. All information collected will provide the justification for the changes.

Top Two Project Threats

As you know, all projects have threats. I will state two threats that the Environmental

Quality International's project risk workshop aims to support the development of the project in

Siwa, Egypt. One hazard discussed its arrival in Siwa; EQI has engaged with local political

decision making and search for sponsors ideas. In spite of this, apprehensions exist that if

external developers earn financial control, the administrative structure could change the reaction

to the native dweller's concerns to gain power over the developers. While the projects political

development has been a public agreement, a few locals dread an increase of occupations and

taxes. The developers will try to persuade the natives to encourage and inspires others in the

area.

Another threat to add is regulating the financial declines. The risk management financial

plan depleted all avenues and searched for other risk management agendas also. It is critical to

continue with the project to investigate the effects of the insight of the mentioned project threats,
which consist of searching for the likelihood of easing events, itinerary, and financial plan

variations and end with the risk register to suggest different threat situations for the project. The

threats were a vast impact on the environment from these threats mixed. Even if with limited

amounts of power in the resorts, there still made with raw resources in the area and require

structures arranged to handle eco-friendly rubbish. EQI speaks on the progress of Eco projects

recycling programs for metal, plastic or glass. They will support the financial plan and the

environment to ease the events and agenda for the project, as stated. As mentioned above, one

threat includes, regulating the financial failures, caused a challenging unprotected fiscal

recession to retrieve funding for the Environmental Quality International's progress. This threat

produced break a distribution of the major project means, independent employee's income and

caused setbacks in production; project levels breaks and in the end, a probable closing of the

obstacles found during the project. To expound on the mitigation activities, I researched

information from, PMBOK Guide, 2013, discusses in advance detection to lessen the effect of

risk occurring is beyond helpful. Since economic decline limits standard risk, it is critical to

catch danger in advance, rather than after harm in the Siwa project. Additionally, supporting

suppliers happened to recognize and protected the risk workshop after the fact. After deciphering

that risk caused the economic decline, the finance team will utilize the risk register to detect risk

holders, act in response, and admit the risk response. Having this secondary source of financing

significantly lowered the impact of this risk (Simon & Hillson, 2012).

The financial plan and agenda for the project have by no means any sudden

modifications, the next stage of financing created a correct reasoning. In spite of this, as stated

in the risk register, the second part of financing options have a higher interest rate, this has a

significant influence the financial plan for the project. If the project completion is in a timely
matter and the economic decline is brief, with a minimum risk outcome, as the project will

possibly recover on its financial return as travel and growth that promotes itself. Simply a single

thing is the downturn is occurring; the projects outlook financial plan will be carefully monitored

and this implements another threat to include to the risk register.

The risk register revise discusses the documented threats that take place in the risk

register chart. It also includes the stated modifications to suggest that this hazard had happened

and to focus consequent danger that may happen as an effect.


Risk Register Chart

Report Date Reason Threat Result Pre-Reaction Likelihood

Intensified the
complexity in
Continuing retrieving
1 Year 11/29/2016 Financial principal Expenditures increased Medium
Decline cumulating
supporting
expenses

Pre-Response Effect

Schedule Rate Worth Reaction Title Holder Category

less than 6 less than


not available N/A N/A N/A
Months $1 Million

Medium Financial Team Active


The number two threat includes the famine in Siwa, which is in the Sahara Desert where the

Environmental Quality International projects occurred. Knowing in advance about the

convenience of water would be a major concern during the duration of the project. Droughts

affected not only the construction teams of the project but prolonged the completion of the

project goals. Financial supporters doubted the sustainability the continuous famine caused in the

Siwa as a prototype of environmental growth.

The mitigation activities ran into inevitable because of the threats of the famine in the dry

area; it is essential to organize the relief. Other than escaping the threats, PMBOK Guide, 2013,

states the Environmental Quality International developed a way to have water transferred

externally from the famine tormented range to the refuge. In the final stage, more chances for

financial support opened up, by basically reassigning water this way, the building process

endured the famine, was able to construct kindness from the people in the area and there was a

smaller quantity of water restricted the supply in the area (Story, 2009).

Part of the risk register process also includes one the most important aspects of any project,

budget, and schedules. The Environmental Quality International faced many challenges, risk,

and threats with the famine; it prompted a certain quantity of water necessary for the project to

start. This issue designated that the project should consider external usage for water suppliers.

Acting in advance lets the Environmental Quality International take a hold the plan, consult

constructive conditions and set a high bar for competitors. Schedules are to be modified during

this process due to the mitigation outcomes. Unlike during the project risk register, budgeting

pays for external usage of water from emergency resources; this does not affect the total budget
for the project. Throughout the risk register process, threats that continue to happen are to be

documented in a risk chart. As seen below in the graph, it reflects variations composed to the

record to indicate any threats happened. Also, notes proceeding threats that may eventually focus

on threats later on that might happen to see chart below (Heldman, 2005).
Risk Register Chart

Pre-Reaction
Report Date Reason Threat Result
Likelihood

Unscrupulous
regional water
Renegotiation Cost increases,
suppliers may
2 Year 11/29/2016 of water or schedule Low
preempt
contracts delays
contracts, force
renegotiation

Pre-Response Impact

Schedule Rate Worth Reaction Title Holder Category

Environmental
less than 3 less than $1 Public relations Quality
not available Active
Months Million campaign International
Public Relation

Negotiate fair contracts with water


Low suppliers; offer renegotiations with longer Project Manager Active
durations
Top opportunity for Environmental Quality International project

Another attribute for the Environmental Quality International project are not all bad of

threats and risk but may include opportunities, which is a good thing. From the PMBOK Guide,

2013, One opportunity such as Acknowledgement of Viable Progress, this signifies the effect of

growth in the production of the project. The work register for Environmental Quality

International in Siwa gained global respect for its effort is reflected. Supporters gravitated to the

effects of the development of the project and decided to invest more financially and gained more

assets with is the global recognition of its progress. Not only did channels of communication

intensify but officials watched the operation of the project there, but all Environmental Quality

International projects also. The mitigation activities of a sizeable Environmental Quality

International makes it easy to give a positive response to threats that this opportunity offers, this

requires not only that the project organization plan has not been altered to dole out any incidents.

With the media is global recognition intensifying, the financial team utilizes the power to pursue

sponsorship appraises. The project team also created a public relation team to safeguard the

integrity of the Environmental Quality International project in Siwa.

Part of the top opportunities for Environmental Quality International project includes

budget and schedules. Any time there are changes made to the project's schedule, the budget will

be affected. In this instance, the plan did not change, so the budget is not negatively impacted.

Supporters may give more financially, more grant funding can occur, lower interest rates, higher

interest from sponsors, assets can drop, and lending prices can fall, all because of the budget of

the project. Throughout the risk register process of opportunities that happened, threats are to be

documented on the risk register chart. As seen below in the graph, it reflects variations composed
to the log to indicate any threats happened. Also, notes proceeding threats that may eventually

focus on threats later on that might happen to see chart below (Simon & Hillson, 2012).
RISK ASSESSMENT INFORMATION
Risk Date Last
Status of
Description Reported Update Impact Odds Timelin
In Impact Response
/ Risk day- day- H/M/ H/M/ e
Charge Description N / P / PE /
Event month- month- L L N/M/F
EE
Statement year year
Damaging
Media hype
inquiry of
Reduced
ventures
financing
releases EE (Plan
Public 1-Dec- 12-Jan- options,
destructive L L F enacted and
relations 2016 2017 higher
evidence effective)
interest
concerning
rates.
company
and
personnel.
Distinct Materials 1-Dec- 12-Jan- M The price if H M PE
expenses Acquisitio 2016 2017 distant may
possibly will ns perhaps be
amplify Manager more than
producing in half costly
excessive than
overage in planned,
the causing a
financial total
plan increase in
the project’s
expenses
swarmed
over 15%.
Key supplier Project 15-Dec- 12-Jan- H Finding a N/A N/A N/A
may lose a Manager 2016 2016 new
pending supplier,
lawsuit and negotiating
go out of contract,
business, and getting
creating the re-started is
need to find estimated to
a new cause a 6-
supplier, month delay
which will
cause
schedule
delays
RISK RESPONSE INFORMATION

Risk Status
Completed Actions Planned Future Actions
Open / Closed / Moved to Issue

List, by date, all actions


In spite of everything there is a possibility of it
taken to respond to the
11/29/2016 occurring again and even so musts be supervised
risk. Does not include
assessing the risk

10-Jan-2017: Asked 12-Jan-2017: Investigating Open


concrete supplier to cost of purchasing
guarantee a price; request materials now and storing
denied them until needed

12-Jan-2006: Met with N/A Moved to issue


supplier to discuss options
15-Jan-2006: Spoke with
other suppliers concerning
accessibility
1-Feb-2006: Set Prepared
and RFP for fear that the
provider goes broke
1-March-2006: Refocused
threats to release progress
from the providers that
misplaced complaints to
ruin them
Project’s Risk Budget Exhausted

The Environmental Quality International plans risk budget was exhausted, during the

project a few were major effects. It is stated from the Project manager’s spotlight on risk

management, Heldman, K. (2005), due to risk, reports are to be documented from the risk register

including the usage of risk management money, sequentially to encounter projects goals, it's vital

to manage a necessary and useful specific training to review every single phase to generate the

Initial Risk Evaluation. The Initial Risk Evaluation will offer an entire reevaluation of the project

to assess the view of the project risk. By taking this approach it will provide a different

perspective of an up to date risk register, this will form a new risk reaction with this method.

The mitigation activities of the Environmental Quality International project risk budget schedule

caused a decline in the value of the project, a rise in the budget that brought about additional

assets, determined new mitigation deregulate reviews and the risk management scope dropped to

preserve the schedule. Overall, budgets and schedules change the entire project that exhausted

and the risk management plan is to be reduced by two months. Bringing about the needs to

change to ensure that the high-level risk or threats are appropriately carried out, this will cut

them entirely. Evaluating all events within the project may not appear to be a necessity but can

increase the budget to fulfill the risk management plan to include challenging any possible risk

that might occur. Any other threats or risk can be handled the minute the problem takes place,

based on the severity and precedence from the evaluation. When making a decision, in this case,

the outstanding threats and risks can be challenged; threats will be chosen and arranged

throughout the analysis, thru additional mass is known they are well-timed for their expenses. A

scenario would be employing independent workers to deal with the threat moderation; less offers
would petition than normal, and the most important factor would be the period it takes to finish

rather than the amount of money given to the independent worker. The mitigation of the risks

process can perhaps be finished during the set timeframe yet reduced to just two months.

Among a correct format that planned strategies for working out the risks and threats to be

finished. But, it may be contingent on the administering of the latest agreement rendering to the

law there is Siwa. Officials in Siwa have clout and able to provide a prompt favorable reception

about the development, this could be beneficial.

Risk Management Schedule Shortened

After coming to a decision about risks that are being recognized as the highest risks are

alleviated and inevitably fail, the ability as a risk decreases. Through exchanging ideas brought

about problems that needed handling with a compromising approach which eventually created

the agreement to develop practicable and realistically ideas. Unfortunately, there was a decrease

in its risk level with this decision the risks associated to delegating fuel and gear from pricey

distributes declined. In addition, the statement concern ought to produce the problem of

possibility to outline important matters the investors need to know and the way to operate the

task easily. As stated by, Hillson & Simon, 2012. The impact signifies change to the project, in a

significant way in order to review necessary issues. Like with the exhaustion of the risk

management budget, abbreviating the schedule by two months for a project as complex as

Environmental Quality International’s will require a major review of the project risk

management plan. In order for the mitigation to happen, investors feels it is key to acquire as

interaction routine that lets investors to express themselves without restraint on opinions they

might have on possible risks within the project. There are several reasons projects face issues
that can cause predetermined problems such as lack of communication, poor time management

and in proper planning. Consequently the issues occur that are not always foreseen and

inevitable, that is why it is very important to handle the quarrel of the project one at a time in

order to embrace the viable affiliation as one. So with no obligation to get the development

within a herring, the investors included can found middle ground to get the support necessary

determine the outlet for change that can occur. Through the mitigation activities, investors

included in the contract is aware of the progress in a good manner with a vast inclination to

design. In the Project Management Institute, 2000; with the utilization of a supportive approach

bringing about a better extent of communication for everyone involved in the project to achieve

the ultimate objective. By implementing this action, the communication from the project

manager and investors to collaborate the opportunities within the project delivering a well-

defined meaning to adhere to. From the Project manager’s spotlight on risk management,

Heldman, K. (2005), with budgets and schedules changing to come across sensitive demands of

the program, during the mitigating project risks and deprives plummeting the scope of the

project, this will cause a strain in the budget and might go over. The only other option will be to

ask for more money to complete the project from their lenders. The risk registry had a lot of

changes from the previous record, such as the output major reviews to take place, must consider

the whole risk registry to go over and make any necessary modifications to the latest evidence

and standings of every possible risk.


Risk Register Chart

Pre-Reaction
Risk Action Threat Result
Likelihood
The
implementation of
Being able to
zoning laws, low-
Alleviate the duplicate Siwa’s
Possibilities for cost marketing,
problem and get professional pattern is
things not being the trust of the
back on the main crucial to the N/A
well-defined in the indigenous
track of the economically
project population and a
project. supportable
close relationship
sightseeing in Egypt.
with the
government.
Every investors
ought to have
stakeholders
Predetermined
should have
struggles amongst N/A N/A N/A
discussions to
the investors
speak on flaws
of struggle’s to
fix the issues
Risk Assessment

Moderate effect to the


Scope items not value if not Alleviate the issue
Tech – Scope Scope Creep
clear appropriately to refocus
alleviated
Having the
Moderate effect to the
Rushing to meet stakeholders
User - Contribution Project being value if not
new project final understand
/Pledge expedited appropriately
dates reasonable
alleviated
timelines
With a huge annual
High Quality effect to
gathering to discuss
PM - Conflict between Conflict in the the value if not
essential issues
Communication stakeholders contracts appropriately
within the
alleviated
workplace
Creating client
gratification by
Task assignment
implementing
to accomplish as High Quality Effect if
update gatherings
User – Contribution Client clients are not able the project slips due to
and sorting out
/Pledge gratification to come up with extra expenses from
problems that might
enough money for independent workers
occur
power
resolving issues as
they arise

Conclusion

In this assignment, I have discussed the top-two threats that occurred in the

Environmental Quality International’s project risk workshop. I analyzed the top opportunity

realized in the Environmental Quality International’s project risk workshop. Elaborate on the

project’s risk budget in the Environmental Quality International project risk workshop. Provided

risk management schedules/charts/graphs shortened in two months. I have analyzed the impact

of those events on the project. Concluded any mitigation activities were essential and clarified.

This research has allowed me to determine if budget/schedule changes were necessary.

Implemented all the information provided to update the risk register and highlighted the changes

made. All the information collected provided justification for the changes.
References

Heldman, K. (2005). Project manager’s spotlight on risk management. San Francisco Jossey-Bass.

Hillson, D, & Simon, P. (2012). Practical project risk management: The ATOM methodology (2nd

Ed.). Vienna, VA.: Management Concepts.

Project Management Institute. (2004). A guide to the project management body of knowledge

(PMBOK guide). Newtown Square, Pa: Project Management Institute.

Project Management Institute. (2000). A Guide to the Project Management Body of Knowledge

(4th Ed.).

Story, J. (2009). Environmental Quality International in Siwa. Fontainebleau, Fr. INSEAD.