MPM340

In my initiation paper I introduce the word to Quintessential’s coffee shop. The essence of coffee with the world of technology; it will having both a social and meeting/study environment. This setting will allow residents and other customers to have the option of a quiet area for studying or to conduct a meeting or a social gathering. The project has several main benefits, which includes improving resident’s way of life while within the community, money savings, relaxed environment, and job opportunity. This coffee shop will promote a team cohesive environment, preparing for the training of future employees on the same team attributes promoting success while maintaining a cozy environment.

This functional organization project once complete will give the students and faculty in and around the Colorado Technical University Colorado Springs, CO Campus access to the world of coffee. The project will combine the essence of coffee with technology world; it will have both a social and meeting/study environment. This setting will allow students and other customers to have the option of a quite area for studying or to conduct a meeting or a social meeting. The project has several benefits, which includes improving students and faculties’ way of life while on campus, money savings, relaxed environment, and job opportunity. This coffee shop project will promote a team cohesive environment in order to in the future, training employees on the same team attributes to build success and maintain a cozy environment.

The tasks involved with construction are as follows:

· Risk Assessment

· Site evaluation

· Building Permits

· Contracting

· Plumbing

· Foundation

· Foundational check/inspection

· Framing

· Insulation

· Electrical/wiring

· Telephone wiring

· Installing Windows

· Code Inspection

· Installing siding exterior

· Installing drywall

· Completion of refrigeration unit

· Completion of Storage unit

· Build bathrooms

· Surface Parking lot

· Landscaping

· Install deliverables

· Building and coding inspection

· Final inspection

· Turn over for decoration

· Completion

Float and Slack are as follows:

· Site Evaluation and Risk Assessment can be ran concurrently

· Refrigeration and storage

· Storage can start at max 4 days later than refrigeration since the two will be ran in parallel to one another

· Phone fax and internet centers

· To compress the scheduled this will be built in parallel to one another

By compressing the scheduled and allowing time for float and slack it enables me to finish the project ahead of time and under projected budget. I made sure to not to allow too much slack for one task as to allow for a faster completion by not consuming all of the float and slack time I had available in the project.

To construct an environment friendly, with up-to-date-technology coffee lounge close to Colorado Technical University Colorado Springs Campus, Co within 1 1/2 month at a cost not to exceed $250,000. 00.

· A 1,000 square-feet to include Counters, cooling cases, drive through window inserted-separate counter area, storage room, 2-bathroom finished building

· Central air and heat with thermostat

· Middle of room display shelves

· Phone and fax center capabilities

· Multi-user Internet capabilities

· Separate lounge area

· refrigeration

· Enclosed 30 spot parking lot

· Two doors

· Building permits approval- September 26,2011

· Foundation checks –September 29, 2011

· Install deliverables – September 29, 2011

· Building and coding inspection- October 17, 2011

· Final inspection- October 31, 2011

· Turn over for decoration- November 1, 2011

Dear CTU Student Union President,

All successful projects include a detailed risk management plan and ensuring a smooth flow this coffee shops plan must include one. The inclusion of a risk management plan is essential in ensuring we stay on task with little to no obstacles and resistance. It will also ensure that we stay reasonably inside the projected budget for the project. So it is very important to develop and implement one at the initiation phase to every project you undertake. The risk management plan become critically essential to cut down unexpected risk and delays. The stronger the risk management plan the more problems it will decrease 70 percent 80 percent and even up to cutting down up to 90 percent of the projects risks.

Additional research has yielded information that concludes that a well thought out and designed risk management plan by 90 percent. This is conjunction with other project management methodology conclude that a risk management plan should be an essential element in diminishing the unexpected project risks that can sometimes occur.

Thus risk management planning should always be completed during the early begging stages of the project planning stage. This is primarily due to the fact that it is such a crucial element to the overall success of the project as well as beneficial to accurately and successfully completing other phases of the project management phase. The plan should identify and be a basis for establishing activities’ for the management of possible risks for the project and should be included in the project plan.

An important outcome of the cost and schedule risk analysis is the communication of high risk areas which have a high potential to affect the project cost and/or schedule. For this project, those risks are the building conditions for cost and delaying productivity for the schedule. These two risk items can be mitigated, reducing the risk of an increased project cost.

Sincerely,

Quesadra D. Goodrum PMP

Creation of a list of possible risk with the project

Determining the level of potential probability for each risk.

Pin pointing causes of determined risk.

Determine was to resolve each risk.

Developing plan to resolve each risk occurrence.

Determining who is responsible for each task and or milestone completion

· Building will meet structural and plumbing code 8582

· Building will meet electrical code 7625

· Fire/safety code 8583

· Accessibility code 2003ANSI A117.1

· Meet current energy code

· 75 ohm RF connection cable wall plate ready- 1

· Ethernet RJ-45 jack-1

· RJ-11 phone outlet jacks- 2

· Decoration and framing will be covered by outside contractor.

· Owner responsible for subcontracting work

· Project manager reserves the right to hire outside contractors with owners approval

· Site work hours will be from 9.00a.m to 5.00 p.m., anytime over will be charged overtime

· Initial landscaping will be done under current project management contract, owner will be in charge of all other landscaping

· Updating building permits is owners responsibility

Customer and project manager will review and close out project making sure all deliveries are included and no future work is required.

This is a time-constraint project and may require additional resources to be completed on time.

*1. Denial or delay in digging approval- This risk can alter the start date of the project.

*2. Coding failure-, this can change the start date of the project

*3. Infrastructure Damage- this will cause extra days of work and Project extension during the beginning.

*4. Equipment malfunction- resource that is assigned to the project has malfunctioned or broke at any time during the project

*5. Loss of resource- Resource assigned to the project has emergency and has to leave project at any time during the project

*6. Circumstances beyond the norm- things such as bad weather anytime during the project.

*7. Market decrease- The need for a business of this sort is no longer needed due to the fact the school has opened up a similar establishment on-campus, this can happen anytime during the project.

*8. Service network area has been changed- the service provider that was chosen as the internet provider no longer offers service in the local area at an affordable cost.

*9. Product quality failure- This can happen after installation of equipment and test. Which if fails adds extra days to the project when there are no resources available.

*10. Coding was not approved again-

Project Risks Assessment

Cost risk is a high risk because this is a time-constraint project any delay will have to be corrected by an increase in resource to meet deadline.

Time- is the highest because all tasks have to be completed in the required time frame, which may cause overworking the workers and they may become exhausted and de-motivated.

Scope- is moderate because if the client thinks or see additional changes during the project, changing the scope will interfere with the completion date and also increase cost.

Quality- is a 4 because if the scope changes and time is adjusted and additional resources have to added, the client may have to compromise on the quality of some resources, which may not be a good decision.

To mitigate the risk of the market conditions can be assessed during the engineering, of the project to determine the best contract acquisition date in relation to similar scoped projects. This will enable the PDT to reduce the risks associated with the market conditions. To reduce the risk of delaying productivity, detailed productivity studies of similar delays could be completed. After these studies are complete, the cost engineer will be able to more accurately calculate the delay production rate.

The risk

Responsibility ensures that each risk is assigned to an individual. The move ensures identification of the risks hence applicable mechanism to counter its effect is instituted.

Risk monitoring and control is relevant as it assists in identifying the possible risks. It further ensures that effective mechanisms are developed that will ensure that the project risks are mitigated. As a result, the business/project will not be sank by the presence of the risks in its daily operations.

a. Create a table similar to the sample above, or use another method to list the risk, the likelihood of occurrence, and the overall severity of impact if it occurs.

b. Fill in the table with the information from the project identification utilizing the 2 scales that you determined as a part of your Discussion Board assignment. Be sure to consider both the cost and schedule impact as you determine the overall impact.

c. Rank your risks based on both the likelihood and impact using a technique, such as 2x2 matrix as shown in the assignment description section.

d. Include a responsibility matrix listing the stakeholders and project team members, with risk actions (or category of actions) along the top.

e. Next, fill in the table using the following letters, and refer to the examples in the Assignments section as "R" if they are responsible for monitoring and controlling the risk, "A" if they are the approver for taking action to respond to the risk, "S" if they have a support role in responding to the risk, and "I" if they only need to be informed. This is also known as a RASI chart.

Project Risks Monitoring & Control Plan

f. Include a detailed description of the overall monitoring process, including the techniques that will be used to monitor the existence and impact of individual risks.

g. Include a detailed description of the control process when a risk occurs.

h. Include a diagram flowchart to depict the steps in the control process from risk discovery through risk response.

Project Risks Communications Plan

The project communication will assist in the coordination within the project. Relaying of information among the different participants involved will assist in exchange of ideas that will assist in the moving forward of the project.

The final audit will be conducted by the review committee, along with an outside project consultant. Once the audit is complete, the audit team will take its findings and recommendations to the Client for project success evaluation. The audit will look at all areas of qualitative and quantitative performance measures, as well as analyzing team interaction and motivation levels. The audit team will also provide a lessons learned report in the final audit packet. The auditors will review the project manager in all areas of cost and schedule performances, and the level of cohesiveness maintained by the project team. The communication plan will also be reviewed to determine if the content was practical, informational, and/or significant to its target audience.

After all audits have been finalized the conclusions presented, a review will be conducted by Executive committee that will determine if the project has been successfully completed. Along with the findings presented by the team leaders, the client will measure the quality of the delivered product by conducting visitor surveys during the two weeks of soft opening. They will look at reaction to the design of the building, the interior design, and exhibit content. This Executive Committee will also make a judgment on the quality of the management of this project by comparing the project specifications outlined in the scope statement to the end product to determine if it meets customer project expectations.

References Editorial Board. (2012). Introduction to Project Management . Words Of Wisdon LLC. PMI. (2004). Practice Standard for Project Risk Management. Newton Square,PA: PMI. PMI. (2013). A Guide to the Project Management Body of Knowledge . Newton Square,PA: PMI.

Risk Identification & Risk Register

Risk Method Analyst

Identify Risk Triggers

Risk Resolution Idea

Risk Resolution Action Plan

Responsibility & Accountibility