Community Fit Builds for Fitness Project: Risk Management Plan

Running head: COMMUNITY FIT BUILDS FOR FITNESS PROJECT
Community Fit Builds for Fitness project: Risk management plan
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1COMMUNITY FIT BUILDS FOR FITNESS PROJECT
Risk management Plan
For the community fitness gym building project, risk management plan is the other very
essential project management knowledge area. Risk management plan is the written document
that is presented to the project manager before execution of any project. The risk management
plan identifies probable risks that may hamper the project during the planning and also in the
project implementation stages. In order to avoid such situation before the beginning of the
project possible risks, their likelihood and potential management strategies for each risk are
needed to be developed by the involved project team members. The risks, their likelihood and
potential management strategies for the community fitness gym project are elaborated in the
below section:
Risk
id
Risk name Risk description
R1 Over running budget
and time
During the execution of the project if it is found that the
estimated value of $50,000-$85,000 is exceeded and the
expected time is almost at the door then that risks are called over
running time and budget risks
R2 Scope creep The risks that are occurred due to improper design and
development of project scope statement and project document
R3 Improper resource
allocation
If sufficient resources are not allocated to the project activities
the this type of risks are occurred
R4 Insufficient
communication
Due to lack of communication needful information will not be