Project 5

Welcome! You are invited to review and analyze the scenario below and determine from the requests
what actions you are to take, using your knowledge of Project Management and your ability to analyze
and decide.

All that you need to perform the activities below can be found in the Simplilearn material and the
PMBOK® Guide – Sixth Edition, but if you need further clarity, please feel free to reach out to trainers for
guidance.

The times documented below are recommendations and should be suggestions to the level of detail
expected. You cannot assume you have enough information to do these assignments as in a real project,
but you should be able to provide enough information to show that you understand what is being
discussed, why it’s important, and what action you would take to control your Project.

The data provided is general, but specific. The data will provide hints as to what you need to consider. If
they don’t make sense, you have two options – use them anyway or ask for clarification. You may want
to revise numbers or add specific details. Yes, you can do this, much like you would do this on a project.
However, if you modify the scenario, it must be reasonable and realistic, and it must be wholly integrated
into the project. Remember – all aspects of projects must either support the project success and/or
minimize failure, and you will need to justify that to ensure a successful outcome.

Situation: ABC is a construction firm engaged in doing renovations for homes within a community. The
homeowner has requested that ABC redo the kitchen with wood flooring, new cupboards, new
appliances, new plumbing, and paint.

The task requires ABC to hire XYZ contracting for plumbing and appliances, yet ABC will provide the
services for construction and painting through their own resources. Because of the small space found
within the kitchen, a short schedule for work, and the completeness of the work to be undertaken the
schedule will be critical, requiring each team (painting, plumbing, cabinets, flooring, etc.) to schedule
their work, deliveries, and tasks in a sequential manner.

The complexity of so many teams working on the effort and the constrained budget provided by the
customer leaves the ABC Project Manager with a challenge to schedule work and ensure that risks are
minimized.

The project manager Jim, will need to perform Risk Management prior to the effort, and throughout the
construction to identify potential issues, opportunities, challenges, and strategies to manage each risk
that is realized, and to maximize on each opportunity presented. Jim creates a Risk Matrix for the
following tasks.
1. Jim needs to create a high-level schedule demonstrating the order of events for each of the
teams and the predecessor for each task to demonstrate the importance of timing,
coordination, and maintaining on-time deliverables.

2. Jim will need to gather the teams together and perform risk identification to create a list of
potential risks and opportunities - 30 minutes.

3. Risks will need to be evaluated based on probability and potential impact and qualified into risk
exposure scores so that a qualified risk matrix can be developed. Develop Risk Matrix - 30
minutes respectively.

4. For risks that are identified and determined to create sufficient exposure to be addressed in the
planning stage, risk strategies must be developed. These strategies will need to be identified for
every risk falling into the “Address Aggressively” categorization (> 60) of risks.

Risks Opportunities
10 10 20 30 40 50 60 70 80 90 100 100 90 80 70 60 50 40 30 20 10 10

9 9 18 27 36 45 54 63 72 81 90 90 81 72 63 54 45 36 27 18 9 9

8 8 16 24 32 40 48 56 64 72 80 80 72 64 56 48 40 32 24 16 8 8

7 7 14 21 28 35 42 49 56 63 70 70 63 56 49 42 35 28 21 14 7 7
Probability

Probability
6 6 12 18 24 30 36 42 48 54 60 60 54 48 42 36 30 24 18 12 6 6

5 5 10 15 20 25 30 35 40 45 50 50 45 40 35 30 25 20 15 10 5 5

4 4 8 12 16 20 24 28 32 36 40 40 36 32 28 24 20 16 12 8 4 4

3 3 6 9 12 15 18 21 24 27 30 30 27 24 21 18 15 12 9 6 3 3

2 2 4 6 8 10 12 14 16 18 20 20 18 16 14 12 10 8 6 4 2 2

1 1 2 3 4 5 6 7 8 9 10 10 9 8 7 6 5 4 3 2 1 1

1 2 3 4 5 6 7 8 9 10 10 9 8 7 6 5 4 3 2 1

Impact

Level 3 = Address Agressively Level 2 = Manage Proactively Level 1 = Watch List

Overall time: 2 hours