- Using the project identified in the Week 1 IP, identify at least 20 risks (at least 2 positive) associated with this project.Discuss the technique used to identify the risk along with who was included in the process.
- Construct a table or chart to present your qualitative and quantitative risk analysis of all 20 risks to include their risk ranking.
- Provide a detailed analysis of the project sponsor’s risk tolerance level to include their corporate strategies.
Running Head: GROUP HOME RISK MANAGEMENT PLAN 1 Running Head: RISK MANAGEMENT PLAN 2 Table of Contents Introduction3 Project Description3 Project Objectives3 External Dependencies (Identified Using PESTLE Analysis)4 Political Factor:4 Economic Factor:4 Social Factor:5 Technological Factor:5 Legal Factor:5 Environmental Factor:5 Stakeholder Analysis6 Project Tasks8 Activities or Tasks8 Person Responsible8 Time Required8 Risk Management Plan9 Risks10 Probability10 Control10 Mitigation Strategy10 References11 Introduction The project is related to youth and adult group home in US. A group house is often a single-family residence for specific populations that require close supervision. Children and adults in care, those with developmental or physical disabilities, people recovering from substance misuse, teenaged mothers and victims of domestic violence are all common examples. The main aim of the project is to provide least restrictive environment to the integrate individuals and reducing stigma while enhancing the life of people especially youth and adult populations. A group home's setting was designed to be as like that of a conventional family as feasible. The project will outline the brief of project on the youth and adult group home in the United States as well as it will explain the objectives of projects. Furthermore, it will demonstrate the external objectives and dependencies comprising of PESTLE analysis. In addition to that, stakeholder analysis will be discussed, which is a process of systematic gathering and analyzing qualitative information to determine the interest considered. The project will seek address to the project task, which is a work item for the activity with a specific purpose related to larger goal. Finally, the risk management plan will be discussed in the project. Project Description Project Objectives · To help the resident developing a self-esteem Many group homes via many different paths to work with persons who have had a lot of misfortune in their lives to help them develop self-worth. · To focus on health both physically and psychologically Residents get access to doctor’s visits and drug tests on a regular basis (Oliveira et al., 2018). To provide these health benefits to their members, group homes frequently cooperate with outside groups and businesses. · To encourage independence of youth and adult group individuals It is important because when group homes provide this type of education, the goal is to help people become more self-sufficient and confident while being secure and protected. External Dependencies (Identified Using Pestle Analysis) Political Factor: The majority rule arrangement of the United States is great and viable law and order, with observing reasonable and simple decisions. The huge political and impacts of monetary nation are appreciated over both people as well as policy making of worldwide. Besides, it is supposed as the main power on the planet. Aside, the country faces all-inclusive analysis for its approaches of interventionist with respect to the fear battle, which is souring unfamiliar relations and simultaneously filling fear based oppressor gatherings, expanding the danger of illegal intimidation (van Gent,Farah, van Nes & van Arem, 2019). Economic Factor: The framework of the economy is all approximately shaped, and it arranges its solidarity from its organization and altogether enterprises. In any case, the expanding economic plan shortage puts the monetary success of the country at serious hazard as the shortfall right now adds up to an undecided $506 million. The U.S is the main wealth in the globe with the GDP of over $16.760 trillion. The economy bounced back with the expansion of 4% about in the third sector for the business and consumers. Social Factor: The U.S deals with the gaining population issue like the most created nations, which can timely a real work lack and rising assessment charges later. Regardless, the instruction and home group services framework are truly outstanding on the world (Perera, 2017). A bigger element of the population has a moderate outlook; on the other hand, growing ethnic prejudice is a genuine distress. The other concern for this industry is increasing illegal immigration that is currently more than 11.7 million people living in U.S. Technological Factor: The economy of the United States is built on modernism and expertise. The country has been at the front position of adapting the technology and function from its institution. Despite rigid opposition from rising economies, it is alleged that the country will uphold its technological advantage over its competitors. The U.S has been a headed in enhancing and developing the technologies in group home as the massive opportunity for the companies. Legal Factor: There is own judicial and governmental system in each state of the United States. The authoritarian atmosphere, in which businesses function, is resolute by the state, in which they control. Nationals and foreigners are treated evenly all through the state. The system of judiciary will give change the fair trail of employees. In addition, the US has a strong structure of legal in place to defend intellectual property rights. The group homes are aware of following the legal guidelines in the US. Environmental Factor: The countryside, weather and nature of the United States are all extremely different. This variety, along with different features like out of this world usual wonders, bustling metropolis, has drained millions of tourists to the nation. These disasters not only ensures the loss in financial manner, but they also interrupt daily living in the world's most technologically advanced country (Akman, 2020). Still, the United States is subjected to several worlds the majority0020harsh weather. Since 1980, the country has experienced approximately 220 weather and climate disasters. There were 15 weather and climate disasters in 2017, each with losses surpassing $1 billion. Stakeholder Analysis The analysis of stakeholder is the process of evaluating people who will be coming all together with the rest of the event's participants. It is for explaining why their interaction and engagement with the stakeholders is necessary. This will aid in the development of the communication strategy. This data is utilized to decide how a project map, rule, agenda, or other movement should address the interests of such stakeholders. The examination of stakeholders is a significant aspect of management of stakeholder (Saha et al., 2021). A stakeholder analysis solves the problem balancing all the demand of competing and does not restrict the wellbeing of the stakeholders from intriguing priority over the welfare of other stakeholders, but it does ensure that all stakeholders are taken into consideration. Stakeholders Individual Contact individual (name, phone and email) Impact (High, Medium and Low) Awareness (High, Medium and Low) Main aim of the stakeholder Contribution made by stakeholder Obstruction in project by stakeholder Involvement of Stakeholders Sponsor of project Malice John
[email protected] High High To gain the competitive advantage Provision of fund Not enough budget to give the fund Regularly updating the information Manager of project James Marshall
[email protected] High Medium Completion of project on time Activities should be managed and controlled The project will fail if there is a lack of concentration (Yoo, 2021). Making plan of communication Youth and adults People
[email protected] High Medium Admitting in such home groups Participation is the foremost thing they can do They might not show the interest in such home groups Gaining the attention of such people Caseworkers and parents parents
[email protected] Medium Medium Tour on home group Giving information and participation Trouble Benefits explained by the committee Project Tasks Activities or Tasks Person Responsible Time Required Determining location Manager 1 month Planning financing Finance Department 3 months Staff hiring HR 1 month Home design Manager 4 months Material cost Human Resource Manager 2 months Loan requirements Manager and Finance Department 5 months Electricity supplier Technical Team 1 month Water supplier Manager 1 month Furniture requirement Operational Team 1 month Cook Operational Team 1 month Kitchen ware Operational Team 2 months Sanitation Government 4 months Hygiene Manager, Head and Employees 3 months Adoption and foster care report Head 5 months Design process Construction Team 4 months Building permits Legal Team 6 months The architect Manager and Constructor 6 months Building contract Manager and Design Team 4 months Site clearance Manager 2 months Boundary wall and gates Constructor 3 months Plastering Architect 2 months Initial plumbing Plumber Team 4 months Interior works Designer 5 months Flooring Constructor 3 months Heat proactive coatings Architect 4 months Superstructure Construction Team 2 months Completion certificate Head 4 months Hand scaping and landscaping Manager 2 months Final clean up Managers check out the Final Clean up 4 months Moving in Everyone is Responsible ~5 months Risk Management Plan Risk management is the process of detecting, assessing, and reducing risk in a project where they oversee completing the life cycle. Risk is incorporated in project planning, and it should be minimized in the project. It is the most important aspect of project management, and it is assessed to determine the most likely dangers and defects to the project's success (Saleh, Ibrahim & Abd Rahman, 2019). Risks Probability Control Mitigation Strategy Technical issues- Failure in technological issues is a possibility. The reason for this is that activities are being delayed and disrupted. It is duty of the technical engineer, project team and manager High Medium The backup options should be maintained on a regular basis. The project team should receive development and training. Operational risks- Internal disagreements and the possibility of generating finances are the key reasons. It is duty of the Finance department, project manager High High The role of each person should be for assigning the issues of operation especially when there is a lack in finance for project Image risks- During the event, the most serious cause are fire-related incidents. The duty is of security and team of safety as