WBS Report - Issue Management

This Risk Management Plan details and defines all processes, plans and responsibilities that will be routinely performed throughout the life time of this project. This document describes the routinely performed risk identification, risk analysis, risk response planning, and risk control activities. Risk Management is essential to managing this project, as this is a unique product. There are risks within this project that present opportunities for success, and those that could present negative effects without the proper risk management processes. This is presented as a framework in which all of our project team members and stakeholders will operate within, following our thorough risk prevention and response program.

The purpose of this project it to introduce a state of the art hazardous waste recycling center in the city of Clearwater Florida. The goal is to use a preestablished facility, equipped with the ability to process, store and dispose of hazardous waste from medical, commercial, and educational facilities. The project includes 3 trucks for pick up, employees to facilitate transport, and OSHA standard methods to prosses the hazardous waste into a clean refuse product that can be disposed safely into landfills with no damaging environmental effects. This project has organized every operational step from pick-up to the end disposal site. The project will be finalized and decommissioned once services are routinely functioning on a predetermined schedule and all OSHA requirements are satisfied. At that point all of the components of this project will be property of The City of Clearwater. The need for this project is substantiated by our rapidly growing population, and Clearwater’s reputation as a leading city for responsible green waste solutions.

2.1 Risk Management Planning

We have built a foundation for this project that envelops the key components to a successful mission. The following elements were defined and completed prior to Developing this Risk Management Plan:

· Developed a Detailed Project Charter

· Developed a WBS with accompanying dictionary

· Finalized a budget with detailed project cost

· Identified specialized resources to complete this project

2.2 Risk Identification Process

The risks for this project were analyzed and observed at the conception of this venture. Our Project Manager, project team members, and stakeholders have held multiple meeting to consider all aspects of risk. Specialist in the fields of hazardous waste were consulted, as were hazardous material equipment specialist, to advise and council this team in their perspective specialized fields. The team compiled past Project Risk Management experience in order to determine the most common risks and the strategies used to mitigate those risks.

2.3 Risk Analysis

This plan defines the values and calculations that quantify risk exposure through a risk probability and impact graph. By using this style of risk classification and value assignment it is immediately apparent as to what degree each risk is considered. The qualitive measurements are presented using objectivity and can be analyzed in the risk categorizes section. By breaking down the risk into their individual sections of responsibility, they can be managed using the correct expert resources.

2.4 Risk Response Planning

The project for removal of hazardous waste is built on measures of safety proactively using known and unknown risks to reach our objectives. The process of actively reviewing and identifying risks to anticipate and influence those events prior to happening is a project wide mission. This plan outlines the risks in a matrix that prioritizes the severity and includes a probability analysis of the project. The team has utilized response actions that include to either terminate, treat, tolerate or transfer.

Terminate: This involves avoidance of the by changing the project plan or completely eliminating the risk.

Treat: Our goal in treating is to reduce the risk probability and restoring the occurrence to an acceptable limit. This can include changing the conditions by adding resources and time to the program.

Tolerate: There is no change to the project plan when a decision to tolerate is used. This means that the risk is acceptable or is unable to identify any other strategy to adopt. Risk tolerance may include developing a contingency plan should this risk occur.

Transfer: There are risks that should be moved to a third-party for transferred responsibility. This does not remove the risk but can often be the most effective financial way to handle risks.

These options for risk categories are reflected in the Risk Categories section, (fig. 3.56)

When it is not possible to use these techniques, then the team chooses to target the risk by utilizing the impact chart (fig. 3.6), to easily navigate the defined conditions by severity. Our methods include

· Identification of residual risk

· Identification of secondary risk

· Detail contractual agreements

· Identify contingency

· Detail inputs to other processes

· Detail inputs to a revised project plan

2.5 Risk Monitor & Control

To ensure that risk is within acceptable range at all times, constant communication with all project stakeholders will be maintained. There is expectation of natural changes to risk as the project moves through the life span. Our purpose is to:

· Continuously monitor that risks responses are being implemented

· Monitor the effectiveness of the risk plans being used

· Evaluate the change of the risk exposer.

· Use this risk plan to evaluate the occurrence of any known risks.

Controlling the risk that have been identified may involve changing the project plan, taking corrective action, or launching a contingency plan. To effectively anticipate any unwanted effects the owner of the risk response should keep all members of the project involved of any new trend, expectations, or consequences that could activation of a risk. These meetings will be held weekly, but more often as needed to discuss all aspects of open risks and close outdated risks.

3.1 Methodology

See information in text

3.2 Risk Roles & Responsibilities

The Roles and Responsibilities table defines the lead, support, and other members who are responsible for risk management activities throughout the project life cycle. This list is role-specific

3.3 Budget

<Identify budgeted funds for risk mitigation activities for this project. Discuss the protocols for using contingency reserve.>

3.4 Risk Management Activities

The table below contains a list of risk planning related activities to be included in the overall project WBS.

3.5 Risk Categories

3.6 Risk Register

Project Management Institute (2013) found “reporting formats define how the outcomes of the risk management process will be documented, analyzed, and communicated” (p.318). Having said that, Clearwater city officials opted to use a basic risk register format to effectively document all project risk reporting methods related to upgrading their existing facilities. The attachment A table below depicts four specific areas that were chosen to be thoroughly monitored.

3.7    Definitions of Risk Probability & Impact 

According to Project Management Institute (2013), “The quality and credibility of the risk analysis requires that different levels of risk probability and impact be defined that are specific to the project context” (p.317). With that said, the table below was deigned to help Clearwater city officials determine the definitions of risk probability and impact for four major project objectives.

Table 3.6. Definitions of Impact Scales for Four Project Objectives. Adapted from Project Management Institute (2013).

3.8    Reporting

Information is reported to Project Manager, Project Sponsor, Executive Sponsor, and Risk Officer.

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Project issues are related to risks in two ways: 1) unaddressed risks may become issues that adversely affect project performance, and 2) effective issue management minimizes project risk. <Describe the project’s issue management procedures. Identify the approach to identify, analyze, and manage project issues. Identify issue management roles and responsibilities. Describe how issues are raised, how issues are logged and tracked, how issues are evaluated and assigned for resolution, and how issue resolution actions will be executed. Address how triggered risks will be identified as issues and managed. Identify issue management tools, such as an Issue Log and project status reports.>

Table 3.7. Risk Register Reporting Format. Adapted from Richard Holt (n.d.).

Attachment A: Risk Register 

Project Management Institute (2013) found “reporting formats define how the outcomes of the risk management process will be documented, analyzed, and communicated” (p.318). Having said that, Clearwater city officials opted to use a basic risk register format to effectively document all project risk reporting methods related to upgrading their existing facilities. The table below depicts four specific areas that were chosen to be thoroughly monitored.

References:

Holt, R. (n.d.). Risk register examples. Retrieved from http://richardholt.co/risk-register-

examples/14910/

Project Management Institute, Inc. (2013). A guide to the project management body of knowledge

(PMBOK GUIDE). Fifth Edition. PMI. Newton Square, PA.