BJTC5543 Project Risk

Management
ANOTOMY OF A FAILED PROJECT : THE FIRST PANAMA CANAL PROJECT

Sharanya Ramasamy 822484

Sharmila Devi Subramaniam 822511

Shri Brindashini A/P Thanapal 822512

Tirosha A/P Govindasamy 822513

Stakeholders Objectives/Outcomes Measurement
Engineers 1. To get fame as the great engineer 1. Awards received from the success the success of
the project/ increase their market oppurtunities

2. Job Oppurtunites 2. Increase employment rate

3. A realistic canal concepts 'lock-dam' 3. No. of patentend/design
4. Job satisfaction 4. Low turn over rate
5. Income Money
Investors 1. To complete the project within the budget and timeline 1. Cost & Time
(French government)
(Public Funds)
Government of Columbia)

2. To gain revenue through % for 99 years 2. Money

Users 1. Shorten the distance 1. Time

2. Reduce Cost 2. Money
3. Safety 3. No of accidents
4. Achieve Safety due to convienence 4. Increase number of users
Community 1. Job oppurtunites 1. Number of new job created
2. Increase socio economic 2. GDP
Government 1. Railway construction problem 1. Alternative
2. Fore shadowed the canal efforts 2. Connectivity enhancement
3. Economic Growth 3. Increase revenue
Project Managers (Ferdinand) 1. To complete the project within the budget and timeline 1. Time completing within 12 years

2.Fame for completing mega project 2. No of recognition

3. Complete the project within budget 3. Cost
4.Complete the project according to the technical specificattions 4.No of defect

5.Publicity 5. Expertise/ no of personnel combination

6. Expertise/good human resource

Potential Risk Description of the Impact Stakeholders Likelihood Impact Severity Attitude/Action/Solution
Detected of
Occurrence

Natural Disasters - -Causes damages on the on going progress and Community Medium High Ask for recommendations expertise from
Mudslides, equipment, need to redo the work. Geologist
Earthquake and etc. Applicator a more horizontal excavation.
- Unstable area, it happened during the French Adapt the constructions, i.e. wood houses,
Construction. and/or basements to protect people;

- Time, Cost, Quality and Benefits Impacts Earthquake Drills

Use of Explosives - Unpredictable and uncontrolled explosions due Engineers Medium High Approach expect in explosives, i.e. a
to the high level of humidity, lack Military Contract;
onresearch,constant need in using it.

- Time and Cost Impacts Control the environment before any

explosion;
Better prepare and equip the workforce,
i.e. suits.
Technical Challenges - Engineering challenges, including the system of Medium High Adopt an updated Technology;
Locks (size), the creation of an artificial lake, the
use electrical power.
- Quality and time Impacts Contract high qualified engineers;
Adopt an adequate Plan and
measurement system.
Potential Risk Description of the Impact Stakeholders Likelihoo Impact Severity Attitude/Action/Solution
Detected d of
Occurren
ce

High Occurrence of - Tropical weather, very humid and very Users High Medium Drainage;
failure due to common rain.
weather changes
- Time, Cost, Quality and Benefits Impacts Protect the Equipment to avoid major
damages

Possibility of a - Time, Cost and Benefits Impacts Investors, Low High Adapt an adequate system of wages:
Worker Strike Project Improve the quality of living;
Managers
Keep the workers motivation on.
Lack of Qualified - Time, Cost, Quality and Benefits Impacts Low High Decent incentives system;
Workforce
An appealing and strategic communication to
attract target workers

Bankruptcy - It occurs previously with the French. All Low High Create a stable relationship beyond the
stakeholders stakeholders;
- Time, Cost, Quality and Benefits Impacts Adopt an adequate Planning and Control.
Possibility of Chief - The project will stop if the chief engineer is no Engineers Low High Decent Remuneration,
Engineer issues long present (sick, abandon the project, death

- Time, Cost, Quality and Benefits Impacts Rewards and Benefits system;
Keep the motivation high.