Professional Documents
Culture Documents
MGT490 MFW Final Term Report
MGT490 MFW Final Term Report
MGT490 MFW Final Term Report
Senior Lecturer
Department of Management
Submitted By:
Name ID
S.M. Moynul Islam Ridoy 1610274030
Sayedur Rahman 1621006630
Mugdha Hassan 1520840030
SaminYasar 1620224030
S.M.Zulkarnain 1520283030
1|Page
TABLE OF CONTENTS
CONTENT PAGE NO
Executive Summary 3
Project Proposal 4-24
Project Initiation Document 25-54
Assumption Log 55-57
Project Plan 58-65
Risk Management Plan 66-73
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Executive Summary
This project is about the construction of 96 meter long PSC Girder Bridge over Ghaghat
River at Gapalganighat on Jaigerhat-Pirgasa. Our team will be working for the progress
of the selected area. We have construction project, site preparation work & earthmoving
projects. Works for complete or part construction and civil engineering work; Building
construction works Engineering works and construction works; Construction work for
pipelines, communication and power lines, Electrical installation work. Our Target is to
build a strong bridge in the area which will be beneficial to the people of the area. We
will consider it as a success if it satisfies the specifications of the tender and if we can
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Project Proposal
Project Details
Project: Construction of 96 meter long PSC girder bridge over Ghaghat river at
Document Details
(project 2019
manager)
4|Page
Approvals
Samin CEO 1
Yasir
Mugdha Engineer 1
Hassan
Sayedur Supply 1
Rahman Chain
Manager
Zulkar CFO 1
Nain
Moynul Project 1
Islam Manager
Ridoy
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Distribution
2018
2018
2018
2018
6|Page
Background
The company Prestige Construction Pvt. Ltd. project firm started their business in 2012. Mr.
Samin and Mr. Sayedur are the founders of the company. After one year they added Mr.
Mugdha Hassan, Mr. Zulkar Nain and Mr. Ridoy as co-founders. Roads and Highway
division, as a preliminary step of widening and strengthening the girder bridge over Ghaghat
district Rangpur is undertaking this project. To tackle the load of heavy vehicular travel this
is needed. This will provide a strong and high-quality riding surface at the same time will
ensure safe moving. The vision of this project construction of Rigid 96 meter long PSC girder
bridge under Mithapukur Upazila district Rangpur Division within the timeframe. This will
History
Prestige Construction Pvt. Ltd. mainly focuses on road and bridge construction projects. It
has done many prominent job across the counrty over past recent years. Our most projects are
completed within a specific time frame and given budget. Prestige Construction Pvt. Ltd.
have successfully finished more than 15 projects. 2 of our major projects were Narayanganj
the construction and maintenance of the roads and bridges. We are planning to
work on the reconstruction of 96 meter long PSC girder bridge over ghaghat
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upazila district Rangpur. We have already done a feasibility test on this project
order to provide high quality riding surface for safe vehicular travel as rigid
this project.
Requirements
Business Problem
Girder Bridge over Ghaghat River at Gapalganighat on Jaigerhat-pirgasa via Balar hat road under
Mithapukur upazila district Rangpur 96 M Bridge has become essentially needed for the people
opportunity for business people who claims to generate money and saves time by this bridge.
As a result, it got the high priorities and people wants to have the bridge by ensuring a save
journey. As the bridge connect major regions of the same district, effective communication
Girder Bridge over Ghaghat River at Gapalganighat on Jaigerhat-pirgasa via Balarhat road under
Mithapukur upazila district Rangpur. Bridge construction project will ensure effective
addition, successful completion of this road construction project will proliferate the brand
awareness and brand value of Prestige Construction Pvt. Ltd. The project will be diligently
approached by the project management team and regular updates on the progress of the
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Project Visions and Goals
Vision:
1. Complete the project within the specific time frame and the given budget effectively.
2. Ensure that a high-quality project is delivered as promised to the Ministry of Road &
Bridge.
3. Ensure that a safe and effective work environment is maintained at the place of
construction.
Goal:
problem in the area which includes heavy duty trucks and loaded buses.
9|Page
Tasks
Phase 30 days
2
Cantil 18
ever
Pillar 5
smoth
ing
Phase 30 days
3
Bitum 18
in
Rolleri 5
ng
Finishi 10
ng
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Deliverables
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compaction.
paint.
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10 loader Used in construction to move aside or load
pressure.
column of concrete
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Financial Plan
This section will summarise the tentative budget of the overall project to be successful and
10 Utilities 2.03
13 Miscellaneous 1.8
14 TOTAL 22.374
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Project Budget Breakdown
Total 10,00,00,000
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Managerial Cost Plan
Utilities 80,00,000
Total 5,00,00,000
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Accommodation Cost
Total 4,80,00,000
Ownership
In this section we will be clearing who owns the delivery of the project, who the project is
being delivered for and who needs to be kept informed on the projects progress during its
lifecycle.
Number
Islam Manager
Hridoy
Hassan Engineer
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Samin Contractor Samin58yasar@gmail.com 01796381322 0284138863
Yasar
Nain resource
planner
Reporting
Effective and efficient communication will always be maintained between every member of
the project management team. The project management team will make sure that all project
stakeholders are well known to the progress on a regular basis via detailed professional
emails. In addition, weekly professional agenda-based meetings are to be held with respective
stakeholders.
completion.
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government are not received
achieved.
and services go up by
increase. In a construction
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early stages, the more the
result of inflation.
forecasting. If forecasted
procurement of raw
materials.
functional departments. If
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was not stablished then the
productive.
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that.
project. MEDIUM
project.
the project.
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Implications
Reputation Loss: If the company fails to fulfil the project successfully it will affect in
the overall brand image of the organization. It will make a bad perception for the
future projects.
Revenue Loss: If the project doesn’t finish within budget it will affect in revenue
generation also. Our company might not earn profit if the project is not completed
within budget.
Corruption Conflict: As we know government work field are full of corruption this is
why projects face extra miscellaneous costs. It increases the overall budget of the
construction project.
Legal Lawsuit: Government sets all the law and regulation of any government
handled project. Though we are private company still we have to follow some given
Success Criteria
Efficiency (How the outputs will perceive within time and cost?)
Suitability (Will the positive impacts of the project continue longer term?)
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Authorisation
__________________________ ___________________________________
___________________________
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Project Initiation Document
Project Details
Project: Construction of 96m long PSC Girder Bridge over Ghaghat river at Gapalganj Ghat
on Jaiger Hat-Pirgasa via Balar Hat road at Ch.13365m under Mithapukur Upazila, District
Gopalganj.
Document Details
Hridoy November,
2018
Approvals
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Samin Yasar CEO 12th 1
November,
2018
November,
2018
2018
2018
November,
2018
Distribution
2018
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Bangladesh Bank Sanction of monetary value. 12th November, 1
2018
2018
2018
Aims:
The project aims to complete the whole project before the rainy season fully started
The main purpose of the bridge is to ensure the smooth communication between
Gopalganj Ghat to Jaigar Hat Pirgasa .This bridge will make the communication
between two areas faster as there is no bridge over the river now.
To increase the sustainability of the construction so that it can serve for a long period
Involved parties:
Project Team
Shah Cement
KCB bricks
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Elite Paints
Bangla Cat
Local Labours
The total sum of the project is 35km road needs to be re constructed. In the beginning
the total work will be divided into 5 equal units. Each unit will carry 7km road.
The whole project will be controlled through work breakdown structure by the project
manager.
The process will set few milestones which will be monitored in every five working
days.
A bridge is a structure built to span physical obstacles without closing the way underneath
such as a body of water, valley, or road, for the purpose of providing passage over the
obstacle, usually something that can be detrimental to cross otherwise. There are many
different designs that each serve a particular purpose and apply to different situations.
Designs of bridges vary depending on the function of the bridge, the nature of
the terrain where the bridge is constructed and anchored, the material used to make it, and the
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The end results upon project completion
Vision
· Ambition
· Individuality
· Integrity
· Service
· Responsibility
· Dedication
· Improvement
· Credibility
· Teamwork
· Excellence
· Accountability
· Accomplishment
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· Dependability
· Flexibility
These all are needed for being a successful project. We also focused about to ensure that
things to be done and keeping in mind while we will continue the work that government has
given.
Complete the project within the specific time frame and the given budget effectively.
Ensure that a high-quality project is delivered as promised to the Ministry of Road &
Bridge.
Ensure that a safe and effective work environment is maintained at the place of
construction.
Objectives
Methods and tools that support run-time intra- and inter-agency collaboration;
Create enthusiasm among the work force so that the give their best to the work.
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Creating atmosphere of the team work.
Scope
Successful completion of the work within time and budget and meeting the citizen’s
expectancy level.
Ensuring everyone who is affected by the project ex. Local citizens, Government,
Business Case:
The case for this project is straightforward. Since this is a government project, it is expected
that the bill shall be cleared within a short time after delivery of the project as well as regular
disbursements from the project owner (). Our construction firm is expected to make 20%
profit on total budget which is BDT. It is a good return on investment since the invested
capital and resources are committed for only 2 months. Also, being able to successfully
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deliver the project will mean getting listed as one of the reliable contractors that RHD will
Assumptions:
The management
are accessible as
expected to finish
venture undertakings
and targets
The Steering
Committee will
convenient execution
(i.e., opportune
endorsement cycles
required)
Inability to
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distinguish changes
indicated in the
undertaking course
in venture delays
uncovered
Constraints
This section will outline the things needed to be taken into consideration during the delivery
Procurement rules
Delivery of raw materials are divided into 5 slots. In each slot 20% of the raw
Deadlines
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As the venture will begin from1stJanuary 2019, we expect if the development
subsidizing required for the undertaking convey on time we will have the
capacity to stock all the crude materials and machineries something like 3 days
Requirements
Quality of the raw materials and machineries have to meet the expectation.
This section will include the risk mitigation and management techniques and strategies that
will be applied to the project. This may be presented in the following format:
estimation.
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Estimation materials arrives on time
concerning top
management
concern delivering
time.
unavailability.
payment regularly.
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Alongside this, there should be a summary of the most significant risks threatening the
project.
This section should summarise the issues associated with the project. This may be presented
need.
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Deliverables
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compaction.
paint.
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10 loader Used in construction to move aside or load
pressure.
column of concrete
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Develop a quality plan consistent with the quality criteria.
Develop a system for documentation and compliance for inspection and testing.
Dependencies
This section will include all dependencies on the project and may look something like this:
between works.
bonded well.
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General Area labour base might
flatter or get
vanished with
sooner.
transportation.
Stakeholders
This section will include a list of all known stakeholders and their interests in the project. It
Stakeholder Interest
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Project Management Team Structure
the project.
to clients.
regulations
specifications
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Sayedur Contractor Responsible for providing all of the
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Financial Plan
This section will summarise the tentative budget of the overall project to be successful and
10 Utilities 2.03
13 Miscellaneous 1.8
14 TOTAL 22.374
44 | P a g e
Project Budget Breakdown
Total 10,00,00,000
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Managerial Cost Plan
Utilities 80,00,000
Total 5,00,00,000
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Accommodation Cost
Total 4,80,00,000
Project Plan
This project plan will cover the construction of 96m long PSC Girder Bridge over Ghaghat
River at Gapalganj Ghat on Jaiger Hat-Pirgasa via Balar Hat road at Ch.13365m under
Mithapukur Upazila District Rangpur Road starting at 1st of January 2019 and will tentatively
will end at 2nd February 2020 if everything goes according to plan. This Project will cover the
regulations and all kind of taxation on the projects and all the taxations, duties over the
materials and the machineries used for this purpose. It will include the vision of acquiring
sufficient and adequate resources to complete the proposed project within the timeframe
given. It will simultaneously look at the contingency plans and expenses which will be added
to the miscellaneous part. The project will be dated to be finished within a years and a month
to test its strength and fix whatever will come to the eyes that needs attention. In order for the
plan to be successful, the ministry of roads and bridges of Bangladesh must ensure that the
are we are working on mill be feasible to work on or work for or not, amount of land
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available to connect the banks or not and if so then the connecting roads are to be made or not
which is not the part of our project but someone else who will take the tender to finish the
roads on the both sides of the bridge. The project will be done within a year along with five
phases of the a project. Initial plan is to find out and relocate anyone or any family living
along both the banks of the river. The bridge will make the people communicate more faster,
make the commute more easier as now people have to use boats and steamers to cross from
one bank to the another which is very time consuming. After completion of the bridge people
from both sides can use motor and manually operated vehicles for their daily commutes
regarding the transfer of goods and materials. It will also allow new transport companies and
battery operated bikes to start their ventures, make more job and business opportunities
resulting in better development of the entire area and economic developmental possibilities.
48 | P a g e
Project Controls
definition of the scope of the project and work. The Project Manager must be proficient of
rendering the governments necessities into specific goals and tasks. In cost control, the single
most valuable instrument is the standard cost and accounts. The cost code not only
categorizes each discrete subdivision of a project; it also assists as the communal means of
communication for all involved in the project. Each control account is thoroughly analysed to
determine amount of work, work method to be employed, crew size, duration and other
resource requirements. Cost control also includes performance of the project, how efficiently
or effectively the project will be running. Production rate in this term of this plan will be how
productively the resources and human resources will be used to make the inputs into output.
Achieving a higher production might result in both good and bad. Good sides may include in
finishing the project much earlier or save the budget allocated and the cons might include that
the quality might be compromised and can rat out the assumption of the bridge to be very
unsafe which is a major concern in Bangladesh. As a company, we are very conscious about
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the perceived quality and least profitability. Anything we will be making will be top notch
and will hold the structural image of our company. Lastly the part manloading is the
manner, as we are hiring skilled and repudiated people and personnel, we are expecting them
to be highly efficient and effective manner wise. Payment can change a lot of people
behaviour and their efficiency in correspondence to it. Monitoring and making superior plans
Monitoring: Being the part of quality control, using the code of accounts, the cost and
commitments, and the physical progress, the project will be monitored on a very strict and
regular basis. These form the basis for the cost reports to be analysed regularly so that over
budget will not occur. The Monthly Physical Progress report measures the earned value
which represents the value, in “base” budget units, of the actual work performed (e.g.
quantifiable tasks and translating them into percent complete. It is reported as earned value in
Quality Assurance and Quality Control: A quality assurance program is the plan and
systematic action that is necessary to ensure that the completed project meet or exceed
desired performance criteria. Quality control is the implementation of the Quality Assurance
Leader have separate reporting responsibility to the top management. He will have authority
from top management to be a participant in any activity that in his judgement is worth the
effort to pursue. The Quality Assurance Leader should be an expert in statistical methodology
and application. This is because the methodology for modern approaches to quality assurance
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Change Control: Changes to the scope in terms of a large project during the design or
construction stages can cause stern cost escalation and completion delays which may refer to
direct damage cost. A change control system should therefore be in place, enforceable and
established to monitor and control changes for the ultimate benefit of the government.
documents. You could store your lessons learned in a database and create a lesson log, I still
produce formal end of project lessons learned documents though, and then copy the key
lessons into any other system that requires them. This document forms part of your project
closure work and it’s only helpful if you share it with the people on this team so they’ve got
something that codifies the lessons they learned while working with you. Equally, it should
be shared with other project managers or they won’t benefit. It will be a book to refer in the
future so that same mistakes are not to be repeated again in the future projects. Even it will
help with the similar problems when it will arise and there will be something to look up to as
a guideline.
Scope
Successful completion of the work within time and budget and meeting the citizen’s
expectancy level.
Ensuring everyone who is affected by the project ex. Local citizens, Government,
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Communication Plan
This section will include how stakeholders will be communicated with during the project and
how frequently. This should include a note on where to find the Communications Plan if you
have one.
the project.
construction project
availability of raw
information should
project.
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Project Sponsor High Through continuous Monetary issues
project report
Required documents
site
Document Management
For a Project Document is a very important thing to keep all the information’s of
dealing, time schedule, budgeting and so on. Without proper documentation no deal
The Project Management Plan: This is a huge document. In fact, it’s probably not
one document. I always manage it as separate documents but together they form ‘The
Plan’. It covers everything you need to know and do to manage the project including
things like managing project tolerances, variances, the change control approach, how
the project team and stakeholders. Sometimes it’s a simple list of dates with updates
or meetings that may be needed. Other, more complex projects require email and
document policies; status meetings and automated status reporting; work, status, risks
and issues. Having the correct communications plan will help make project decisions
more efficient.
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Project Schedule: The project schedule determines what work needs to be done and
when. It is the timeframe for completing tasks and starting others. All work associated
with a project should be scheduled. In some cases, it is a good idea to document the
planned schedule and the current schedule so that late tasks can be flagged and
way.
project planning, resource management and avoiding project scope creep. The WBS is
used to organize the work into manageable sections, often measured in time, for
example, two weeks. By focusing on the bigger picture, the WBS ensures that no
Risk/Issues Log: This is exactly what it says on the tin – a log of all risks and issues the
project may face. It is good practice to follow some sort of logging format; name or ID,
description, impact, probability, proposed mitigation and owner or person accountable. The
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Assumption Log
Project: Construction of 96m long PSC Girder Bridge over Ghaghat river at Gapalganj Ghat
on Jaiger Hat-Pirgasa via Balar Hat road at Ch.13365m under Mithapukur Upazila, District
Gopalganj.
over
Ghagat
River
D Description y s
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Resources will be Moynul
functional
2018
managers to
discuss the
topic.
Designing plan
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material for the there is
project ample
warehousin
g space
available
for the
Project.
04 capacity to Islam to
Manufacturing Moynul Islam 15 Open
manager
05
Budgeting sufficient budget rnaian december will
effectively
57 | P a g e
Project Plan
Project Details
Project: Construction of 96m long PSC Girder Bridge over Ghaghat river at Gapalganj Ghat
on Jaiger Hat-Pirgasa via Balar Hat road at Ch.13365m under Mithapukur Upazila, District
Gopalganj.
Document Details
Hridoy November,
2018
58 | P a g e
Approvals
2018
2018
2018
2018
Distribution
2018
2018
2018
59 | P a g e
Project Manager Backbone of the project. 12th November, 1
2018
Project Plan
This project plan will cover the construction of 96m long PSC Girder Bridge over Ghaghat
River at Gapalganj Ghat on Jaiger Hat-Pirgasa via Balar Hat road at Ch.13365m under
Mithapukur Upazila District Rangpur Road starting at 1st of January 2019 and will tentatively
will end at 2nd February 2020 if everything goes according to plan. This Project will cover the
regulations and all kind of taxation on the projects and all the taxations, duties over the
materials and the machineries used for this purpose. It will include the vision of acquiring
sufficient and adequate resources to complete the proposed project within the timeframe
given. It will simultaneously look at the contingency plans and expenses which will be added
to the miscellaneous part. The project will be dated to be finished within a years and a month
to test its strength and fix whatever will come to the eyes that needs attention. In order for the
plan to be successful, the ministry of roads and bridges of Bangladesh must ensure that the
area we are working on mill be feasible to work on or work for or not, amount of land
available to connect the banks or not and if so then the connecting roads are to be made or not
which is not the part of our project but someone else who will take the tender to finish the
roads on the both sides of the bridge. The project will be done within a year along with five
phases of the project. Initial plan is to find out and relocate anyone or any family living along
both the banks of the river. The bridge will make the people communicate more faster, make
the commute more easier as now people have to use boats and steamers to cross from one
bank to the another which is very time consuming. After completion of the bridge people
from both sides can use motor and manually operated vehicles for their daily commutes
60 | P a g e
regarding the transfer of goods and materials. It will also allow new transport companies and
battery operated bikes to start their ventures, make more job and business opportunities
resulting in better development of the entire area and economic developmental possibilities.
Scope
Successful completion of the work within time and budget and meeting the citizen’s
expectancy level.
Ensuring everyone who is affected by the project ex. Local citizens, Government,
A work breakdown structure is the core of project planning, resource management and
avoiding project scope creep. The WBS is used to organize the work into manageable
sections, often measured in time, for example, two weeks. By focusing on the bigger picture,
the WBS ensures that no element of the project is overlooked during the planning phase.
Control Management
Primarily to establish a realistic cost target is a well-conceived definition of the scope of the
project and work. The Project Manager must be proficient of rendering the governments
necessities into specific goals and tasks. In cost control, the single most valuable instrument
is the standard cost and accounts. The cost code not only categorizes each discrete
subdivision of a project; it also assists as the communal means of communication for all
involved in the project. Each control account is thoroughly analysed to determine amount of
work, work method to be employed, crew size, duration and other resource requirements.
61 | P a g e
Cost control also includes performance of the project, how efficiently or effectively the
project will be running. Production rate in this term of this plan will be how productively the
resources and human resources will be used to make the inputs into output. Achieving a
higher production might result in both good and bad. Good sides may include in.
Milestone
Transport,
Stringing, &
Assembly
Hand over Complete the work within the time period 02-06-2020
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Phases
Initiation In the initiation phase the area is going to be prepared for 1st
Pipe In this stage the pipe will be set up in the designed 3rd
Post After completing the project hand overing the work to 4th
project.
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Tasks
Phase 30 days
2
Cantil 18
ever
Pillar 5
smoth
ing
Phase 30 days
3
Bitum 18
in
Rolleri 5
ng
Finishi 10
ng
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Procurement Management
Delivery of raw materials are divided into 5 slots. In each slot 20% of the raw
manager.
vendors
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Risk Management Plan
Introduction
Risk is any unwanted event or situation that can lead to the failure of the project. There are
different types of risks such as social, political, cultural etc. Most of the risks can be
explore identify, analyze and mitigate the risks that can affect our project. Risk management
is an important part of project management which if done efficiently leads to the success of
the project. Risk management is an action plan that consists of various steps which are done
to ensure the removal of risk. Following are some of the benefits of developing and
implementing an efficient risk management plan: helps to avoid any big disaster, enhances
revenues by saving expenses, provides mental satisfaction, ensures the successful completion
of project, gives a competitive edge over others, increases the sense of responsibility and
Top Risks
Security threat would be the top risk as the national web portal framework would be the
single framework under which many government sites will have their portals. A security
First, we’ve got to identify and plan. Then be ready to act when a risk arises, drawing upon
the experience and knowledge of the entire team to minimize the impact to the project. Risk
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1. Identify risks and their triggers
Assumption analysis
Risk Identification
Root cause analysis – for identifying a problem, discovering the causes that led to it and
problematic assumptions.
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Risk Monitoring
To be effective, software risk monitoring has to be integral with most project activities.
Essentially, this means frequent checking during project meetings and critical events.
Monitoring includes:
When a risk occurs, the corresponding mitigation response should be taken from the risk
management plan.
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Accept: Acknowledge that a risk is impacting the project. Make an explicit decision to accept
the risk without any changes to the project. Project management approval is mandatory here.
Avoid: Adjust project scope, schedule, or constraints to minimize the effects of the risk.
Control: Take action to minimize the impact or reduce the intensification of the risk.
Continue Monitoring: Often suitable for low-impact risks, monitor the project environment
Risk Register
Recognition Date - Date on which stakeholders identify and acknowledge the risk.
Probability of occurrence - Estimate of probability that this risk will materialize (%).
Severity - The intensity of undesirable impact to the project (if the risk materializes).
Owner - This person monitors the risk and takes action if necessary.
Status - current team view of the risk: potential, monitoring, occurring, or eliminated.
Loss Size - Given in hours or days, this is a measure of the negative impact to the project.
Risk Exposure - Given in hours or days, this is a product of probability and loss size.
Priority - This is either an independent ranking, or the product of probability and severity.
Typically, a higher-severity risk with high probability has higher relative priority.
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Reporting
Throughout the project, it’s vital to ensure effective communication among all stakeholders,
information and getting feedback about risks will greatly increase the probability of project
success.
Risk Categories
project's biggest risk. This can be difficult (but not impossible) to document.
2. Scope - The quality of the estimates, dependencies and scope management. If an estimate
3. Change Management - A continuous flow of complex change requests can escalate the
complexity of the project and throw it off course. Change requests may lead to a perception
that a project has failed because they continually add budget and time to the project.
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5. Resources & Team - Resource issues such as turnover and learning curves are common
project risks. There's always a risk that the key experts will leave. If the team is
6. Design - The feasibility and flexibility of architecture and design are key to the project's
7. Technical - The risk that components of the technology stack will be low quality. There are
dozens of quality factors for technical components (e.g. stability, availability, scalability,
8. Integration - What we are delivering needs to integrate with the processes, systems,
organizations, culture and knowledge of the environment. Integration risks are common.
10. Requirements - Garbage in, garbage out. If requirements aren't feasible or are detached
11. Decision Quality - Slow, low quality or ambiguous decisions are common risks.
12. Feasibility - Risk identification is a critical time to consider the feasibility of the project.
Ask the key members of the team to do their own sanity checks.
13. Procurement - The procurement process is ripe with risks. For example, there's a risk that
we won't find an acceptable proposal to an RFP. There's also a risk that the vendors won't
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14. Quality - Quality and risk management are intertwined. We'll expect to have defects in
our project. However, there's a risk that quality won't meet basic levels. Significant rework
15. Authority - Project teams often lack authority to complete project work. In many cases,
teams are expected to influence to achieve project objectives. This reflects business realities.
For example, the project may cross organizational boundaries. It's rare that a project team
16. Approvals & Red Tape - If we anticipate that red tape (e.g. financial approvals) will slow
18. External - External forces such as laws, regulations and markets. If the project touches
19. Project Management - If the organization asks us to streamline the project management
20. Secondary Risks - Secondary risks are often overlooked aspect of risk. Secondary risks
are the result of risk mitigation and transfers. Let's say we have transfer a risk to a vendor
with a fixed price contract. The contract itself represents a counterparty risk. We've replaced
21. User Acceptance - There's always a chance that users will reject the product. We can
build a product that matches requirements (on time and to budget). However, if users reject
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22. Commercial - If we're building a commercial product for market (new product
Risk Budget
We will allocate 10% of total budget for risk management. After analyse all the probable risk
factor and find out the impact on the project we will allocate our budget accordingly.
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