Contents Case Scenario:.......................................................................................................................................2 Introduction:..........................................................................................................................................2 Project scope:........................................................................................................................................2 Risks and issues associated with the Project:.........................................................................................2 Risks Management cycle Plan:..............................................................................................................3 Stakeholder engagement and management:...........................................................................................7 Approval of the Project:........................................................................................................................8 Sign Off:................................................................................................................................................8 References:............................................................................................................................................8
Case Scenario: The Google is going to fund the ATA’s east Timor solar project. The Google has asked for the risk management plan of the company. As a project manager, company wants to develop a risk management plan associated with the completion of the project. Introduction: The ATA’s east Timor solar project focuses on using sustainable technologies. The proper communication between resources, skills, and material availability helps in completing the project with limited cost and time. The organization wants to be expertise by development risks management plan for the completion of the project. Project scope: The scope of the project is to focus on the risk management cycle which should be undertaken for the successful completion of the project. The analysis of the requirements and assumption helps in understanding the cause of potential delays. The assumptions can be made which should be sensible, logical, and based on facts for the development of the risks management plan. Risks and issues associated with the Project: The following table helps in identifying risks associated with the ATA’s east Timor solar project: RisksDescription Information and research“The effectiveness and efficiency of the project depends on the collection of information related with the project” (Tooley, 2012). By indulging physical site assessment technique helps in diagnosing the real situation. TransportThe equipment transportation is the time consuming process. The strategies should be built to resolve the transportation issues of
the goods CommunicationThe inefficient communication system slow down the process of planning and which in turn results in delay of the project. Capacity buildingThe capacity building is the key area for dividing the roles and responsibilities among the individuals. Working with local organizationThe cultural difference is the major issues associated with it Relationship with external organizationSponsorship is the major concern area to required money for the completion of the project Power IssueCutting of the power decreases the working capability of the organization Less experienced labourIt affects the working capability of the organization Language barrierThe language is the major barrier for motivating the stakeholders Use of local SupplierNon-availability of the local supplier Concern of health and safetyThere are no health and safety procedures to develop security to the working employees Risks Management cycle Plan: The risks associated with the ATA’s east Timor solar project can be resolved with the deployment of the risks management cycle plan. The setting of priorities is based on assumption for managing the risks efficiently. StagesAction Plan Risks Identification phaseThe physical site analysis of the ATA’s project helps in identifying the risks associated with the project are transportation of the goods and resources, communication, capacity building, working of the local
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organization, relationship with external organization, power issues, language barriers, use of local supplier, and concern of health and safety issues Risk assessment“The priority should be associated with the risks identified which are based on assumptions” (Rao, 2014). The magnitude of the risks should be identified for increasing the capability of the decision making. Planning and resourcingThe use f preventive plan and comprehensive plan helps in developing risk mitigating strategies Implementation, monitoring, and controlThe tracking of the risks helps in achieving the project success. The risks associated with the ATA’s east Timor solar project can be resolved with deployment of risks management cycle within the working curriculum of the solar project: Risks management cycle for the ATA's Project Identification of the risks Associate priority with the risks identified categorisati on of th risk Analysis of the risks Generaatio n of response Development and implementation of the risks mitigation strategies Monitorin gof the risks
The following diagram shows the procedure how the Ata’s project going to manage their risks associated with the completion of the solar project: The following table shows the probability chart and mitigation strategies which should be undertaken for the successful completion of the ATA’s solar project. Risk IdentifiedProbabilit y FrequencyPriorityRisk Mitigation strategies Transportation of the goods HighMonthlyHighThe local organization of the area should be promoted to provide goods and resources according to the demand raised by the new project CommunicationHighDailyHigh“The implementation of indirect and direct communication methodologies helps in resolving the issues and conflicts of the working employees and they feel attached with the project” (Owens, 2010). The consideration should be given on
culture and values of the local people. Capacity building MediumDailyLowThe performance of the employees can be measured and improved with the use of key performance indicators. It helps in setting the target for the employees to improve their efficiency and skills. Working of local organization LowPeriodicMediu m The working with local organization helps in overcoming the problem of cultural differences. The local partnership should be developed for providing material and equipment according to the demand and requirement of the project. Relationship with external organization HighPeriodicHigh“The good and healthy relationship should be developed with the external parties to promote sponsorship for the development of the project in the local area” (Reddy, 2017). The availability of the money helps in completing the project with ease within the allocated time and budget. Power IssuesLowDailyLow“The issues of power supply can be resolved because the deployment of these project required very little amount of power supply i.e. equivalent to 12V” (Muller, 2015). The installation of the project can be easily done. Language barrier LowDailyHigh“The interpreter should be involved to overcome the problem of language” (Moser, 2017). The local
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people of the area can understand the language of the interpreter which helps in improving the working performance of the labour. It helps in giving emphasis to the values of the culture associated with the local people which helps in making good and healthy relationship with them Use of Local Supplier MediumPeriodicLowThe experienced labour should be incorporated in the working platform of the project because they can predict the occurrence of the risks in advance for which proactive techniques can be developed. Concern of health and safety. HighDailyHighThe standard should be built for the consideration given in the area of health and safety of the workers. The two approaches which are used for promoting health and safety program are use of occupational health and safety program and monitoring and tracking of the follow up of the policies and standards within the working curriculum of the project or not. Stakeholder engagement and management: “The analysis of the stakeholder is the crucial responsibility for the successful completion of the project within time and budget” (Ma, 2011). The performance of the employees can be measured and improved with the use of key performance indicators. It helps in setting the target for the employees to improve their efficiency and skills. The success of the project
provides big opportunity to deploy bigger project within the area. The project should be completed within the period of 12 to 18 months. Approval of the Project: oApproved oNot Approved Sign Off: The project sponsor should sign off the project for approval. References: Ma, T. (2011).Project risks analysis of solar energy project delays in India.Retrieved from http://search.ror.unisa.edu.au/media/researcharchive/open/9915909479901831/53108 456620001831 Moser, D. (2017).Best practice guidelines for risk identification, assessment, and mitigation. Retrieved from https://www.tuv.com/content-media-files/master-content/services/industrial-services/ pdf/tuv-rheinland-solar-bankability-final-report.pdf Muller, G. (2015).Risks management and resolution strategies for establishing small hydropower market.Retrieved from http://search.ror.unisa.edu.au/media/researcharchive/open/9915909479901831/53108 456620001831 Owens, J. (2010).Risk management.Retrieved from http://agile.csc.ncsu.edu/SEMaterials/RiskManagement.pdf Rao, R. (2014).A systematic framework of schedule risks management for power grid engineering project.Retrieved fromhttp://www.google.co.in/url? sa=t&rct=j&q=Research%20paper%20odf%20on%20Risks%20management %20cycle%20plan%20for%20the%20solar %20project&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwibgJKN8J7WAh