Project Execution and Control - Risk Identification and Management

Running head: PROJECT EXECUTION AND CONTROL
Project Execution and Control
Name of the Student
Name of the University
Author Note:

1PROJECT EXECUTION AND CONTROL
Table of Contents
Introduction..........................................................................................................................2
Discussion............................................................................................................................2
Risk identification............................................................................................................2
Impact of possible risk.....................................................................................................2
Risk identification in Risk register..................................................................................3
Risk probability and impact risk Matrix..........................................................................4
Risk management and reporting......................................................................................5
The Strategies for managing the risk...............................................................................5
Stakeholder appraisal for project ongoing risk management activities...........................6
Conclusion...........................................................................................................................6
References............................................................................................................................7

2PROJECT EXECUTION AND CONTROL
Introduction
The following report mainly deals with Lewis project constructed by Robert L. Frank
Construction company which was seriously over budget. Man-hour focused on expended to date
for running 30 percent over the given project. The project was not working sufficiently for
satisfying the customers. Material deliverables come up with several slippages. The unofficial
indication of the project schedule was mainly due to delay in delivery for several items of a
project. The completion data for coal liquefaction was not considered to be possible in nature.
In the coming pages of the report, a list of risk has been identified along with impact of
risk. After that, a list of risk has been identified in the risk register. Impact of risk and risk
probability has been discussed in brief. The last part of the report mainly deals with list of
strategies for dealing with risk.
Discussion
Risk identification
There is large number of risk which is identified in this Lewis Project which was running
over budget. Man- hours focused on expending the project over 30 percent of the project. The
project was progressing insufficient for satisfying the customers (Wysocki, 2012). There is large
number of material deliverables that have result in slippage and any kind of unofficial indication
for project scheduler. It mainly results in delivery delays on the key items of the given project.
The completion date focuses on coal liquefaction which is no longer clearly visible.
Impact of possible risk
Delay in this construction project that is Lewis can easily result in large number of effects
like cost overrun, dispute, attribute and lastly proper litigation.