Risk Register AssignmentYou are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street travelling eastbound. South Street is a dual...

PART 1; Risk Register Assignment;In this assignment you are to prepare a complete risk register utilizing the scenario and instructions provided.

PART 2;




Using this template, you are to construct a Risk Management Plan. Complete each section of the Risk Management Plan.

Risk Register Assignment You are the project manager assigned to a project to upgrade an old bus shelter. The shelter is located along South Street travelling eastbound. South Street is a dual highway with a speed restriction of 45 miles an hour. There are three eastbound lanes and a concreate sidewalk. The bus shelter is set back from the roadway approximately 5 feet. To the rear of the bus shelter is a cul-de-sac surrounded by residential dwellings and a brick wall in close proximity to the bus shelter. The enclosed photos are provided to you as a resource to be used in completing the assignment. Your supervisor discusses the project with you and requests that you develop a risk register associated with this project before work begins. You will need to identify potential risks including threats and opportunities, and develop a Risk Register in Microsoft Excel (.xls) format. Your assignment, is to design and present a complete risk register associated with the scenario provided. Your risk register should include the following items: Risk Identification – You are to identify and list at least five potential risks associated with this project. This list should include at least one opportunity risk. Each risk is to be clearly described so that it can be easily understood and relatable to the project. Risk Category – Determine and list the corresponding category associated with each risk. For example, is the risk you identified associated with schedule, scope, budget, etc. Likelihood/Probability – Estimate and list the likelihood of each risk occurring. You must identify and explain the scale selected. For example, you can use a high, medium, and low scale, however, this scale must equate to numerical values to provide for effective risk score calculation – i. e. High = 10 Impact – Estimate and list the impact on the project of each risk should it occur. You must identify and explain the scale selected. You may select either a qualitative or quantitative scale. Rank – For each risk, calculate and list a Risk Score (i.e. Probability and Impact Score) which will enable you to rank and prioritize each risk. Then be sure each risk is assigned a priority number. You are not required to re-order your risks on the Risk Register. Root Cause – For each risk, list at least one potential root cause that may be the true reason behind the risk being present. There should be one root cause associated with each risk. Each root cause must be clearly described and be understandable. For example, “poor planning” is not an acceptable root cause. You should also identify and briefly describe one root cause analysis technique you would use to assist in this discovery. Risk Response Strategy – For each risk, create at least one response strategy to be used to address the risk should it occur. Your risk response should be clear and understandable. You should also identify and include the category of your risk response, i.e. Avoidance, Mitigation, etc. Risk Response Cost – For each risk response, provide an estimated cost, to implement the strategy. Risk Owner – For each risk list who will be the owner of the risk. You may create fictitious names and titles that can be used to complete this portion of the risk register. Risk Status – List a hypothetical status for each risk. The status should be clear and understandable. Other Fields – Identify at least one field you as the project manager would add to your Risk Register that may be needed for this specific project, or one that you believe will be helpful to your project team. Risk Management Plan Version: 1.0 Error! Unknown document property name. Design of Wastewater Treatment for town of Cambridge Risk Management Plan Version Number: 1.0, 5/22/19 Version Date: Note: Remember to include your project description. Team – Team # Team Members – Include All 1. 2. 3. 4. 5. Team Members who did not contribute 1. 2. 3. 4. 5. Team Assignment No. Section Primary Contributors 0 Project Description Chirag 1 1.1 Purpose of the Risk Management Plan 2 2.1 Process 3 2.2 Roles and Responsibilities 4 2.3 Risk Identification 5 2.3.1 Risk Identification 6 2.4 Risk Analysis 7 2.4.1 Quantitative Risk Analysis 8 2.4.2 Qualitative Risk Analysis 9 2.5 Risk Response Planning 10 2.6 Risk Monitoring, Controlling and Reporting 11 2.7 Risk Contingency Budgeting 12 3.0 Tools and Practices 13 4.0 Closing a Risk 14 5.0 Lessons Learned 15 Appendix A – Risk Mgmt. Plan Approval 16 Appendix B - References 17 Appendix C – Key Terms Risk Management PlanVersion: 1.0 [Insert appropriate disclaimer(s)] Revision Date: 3/7/2023 7:05:00 AMPage 2 of 7 EPLC_Risk_Management_Plan_TemplateT.doc Project Description The Town of Cambridge has decided to move forward with building a new Wastewater Treatment Plant (WWTP) to treat existing and future flows. The current wastewater treatment plant doesn’t meet their Virginia Pollution Discharge and Elimination System (VPDES) permit and significant upgrades are needed to meet the new VPDES permit. Based on an approved Preliminary Engineering Report, designing and implementing a new WWTP has been found to be the most economical option to provide reliable treatment while meeting or exceeding the permit requirements. VERSION HISTORY Provide information on how the development and distribution of the Risk Management Plan will be controlled and tracked. Use the table below to provide the version number, the author implementing the version, the date of the version, the name of the person approving the version, the date that particular version was approved, and a brief description of the reason for creating the revised version. Version Number Implemented By Revision Date Approved By Approval Date Description of Change 1.0 TABLE OF CONTENTS 1.0INTRODUCTION4 1.1Purpose Of The Risk Management Plan4 2.0risk management Procedure4 2.1Process4 2.2ROLES AND RESPONSIBILITIES4 2.3Risk Identification5 2.3.1Methods for Risk Identification5 2.4Risk Analysis6 2.4.1Qualitative Risk Analysis6 2.4.2Quantitative Risk Analysis6 2.5Risk Response Planning6 2.6Risk Monitoring, Controlling, And Reporting7 2.7Risk Contingency Budgeting8 3.0Tools And Practices8 4.0Closing a Risk8 5.0Lessons Learned9 Appendix A: Risk Management Plan Approval10 APPENDIX B: REFERENCES11 APPENDIX C: KEY TERMS12 INTRODUCTION 1.1 Purpose Of The Risk Management Plan This Risk Management Plan defines how risks associated with the project will be identified, analyzed, and managed. In this section, you should outline how risk management activities will be performed, recorded, and monitored throughout the lifecycle of the project and describe at a high level the process to be used to record and prioritize risks by the Risk Manager and/or Risk Management Team. risk management Procedure 2.1 Process In this section, you are to summarize the steps necessary for responding to project risk. 2.2 ROLES AND RESPONSIBILITIES In this section, you are to complete the roles and responsibilities chart, by describing the roles of the key players in your projects risk management program – i.e. Business SME, Project Manager, etc. and describe their responsibilities with respect to risk management on your project. Role Responsibilities Project Manager Project Technical Lead Senior Project Engineer Document Controller, Junior Engineer 2.3 Risk Identification In this section, you are to identify who will be responsible for identifying risk, and provide a description of what information will be used to help to identify project risk – such as environmental factors, cost estimates, etc. a complete list should be included. 2.3.1 Methods for Risk Identification In this section, you are to identify what specific methods will be used to assist in the identification of risks associated with your project. A complete list should be included. The following methods will be used to assist in the identification of risks associated with : 2.4 Risk Analysis In this section, you are to generally describe how risks will be analyzed and describe how risks will be prioritized by their level of importance. 2.4.1 Qualitative Risk Analysis In this section, you are to describe how you will use Qualitative Risk Analysis to conduct an analysis of potential risks to your project. You are to provide a description of who will conduct this analysis, who will assess the results of the analysis, and describe how you will define Probability and Impact – i.e. what scales will you use? You should also describe the priority level of risks that will require a risk response and contingency plan. Probability Impact 2.4.2 Quantitative Risk Analysis In this section, you are to describe how you will use Quantitative Risk Analysis to conduct an analysis of potential risks to your project. You are to provide a description of who will conduct this analysis, who will assess the results of the analysis, and describe how you will define Probability and Impact – i.e. what scales will you use? You should also describe the priority level of risks that will require a risk response and contingency plan. 2.5 Risk Response Planning In this section, you are to describe how you will conduct risk response planning. This should include how and to whom risks will be assigned, the approach(es) to be used to address each risk. 2.6 Risk Monitoring, Controlling, And Reporting In this section, describe the methods and metrics that will be used to track the project’s risk status throughout the lifecycle as well as how this status will be reported to the stakeholders/ management. List factors that would need to be escalated to management. Examples: documented mitigation actions are not effective or producing the desired results; the overall level of risk is rising. This section should also include a description of how and where risk activities will be recorded and who will have access to this information. 2.7 Risk Contingency Budgeting In this section, you are to provide the appropriate information to effectively outline and define the budget associated with the Risk Management activities on the project. You should identify the total budget allocated to risk management and identify how the budget can be accessed. You should also describe who has the authority to authorize expenditures. Tools and Practices In this section, you are to describe what tools and techniques will be used to record and track risks and who will be responsible for maintaining the information. You should also describe the process to be used in reviewing risks. Closing a Risk In this section, you are to describe the criteria associated with determining when a risk can be closed and identify who has the authority to close a risk. Lessons Learned In this section, you are to describe how lessons learned will be identified and recorded and where this information will be stored. Appendix A: Risk Management Plan Approval In this section, you are to prepare a format for, and describe who, will be responsible for reviewing and signing off on the plan. You should be sure to list the individuals whose signatures are desired. Examples of such individuals are Business Owner, Project Manager (if identified), and any appropriate stakeholders. Add additional lines for signature as necessary. APPENDIX B: REFERENCES In this section, you are to utilize the table to list the documents associated with your risk management plan. Include the name of the document, a brief description of the document, and where the document will be physically located for staff to access each. You are to list at least three documents that you will use in the risk management planning of your project. The following table summarizes the documents referenced in this document. Document Name Description Location APPENDIX C: KEY TERMS In this section, you are to list the terms and a definition for each one used in your risk management plan. You are to list at least three terms and their associated definitions. You are to select the terms which you believe may be the most difficult to understand or may offer a double meaning. Term Definition [Insert Term] 1 Revision Date: Error! Unknown document property name. PMGT 530 Risk Management Plan TemplatePage 5 of 7 [Insert appropriate disclaimer(s)]