Construction Project Management Risk Assessment

This assignment delves into the critical aspect of risk management in construction projects. Students are tasked with conducting a comprehensive literature review on existing risk assessment frameworks and methodologies used in the construction industry. Based on this review, they will develop a novel framework for assessing risks specific to construction projects. The framework should incorporate various qualitative and quantitative methods, considering factors like project complexity, site conditions, stakeholder involvement, and regulatory requirements. To illustrate the application of their framework, students will analyze a real-world construction project scenario, identifying potential risks, evaluating their likelihood and impact, and proposing mitigation strategies.

Running head: PROJECT MANAGEMENT
Case Study Selected-Parkway Parade
Name of the Student
Name of the university
Author’s Note

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PROJECT MANAGEMENT
Table of Contents
1. Project plan overview and critical assumptions...........................................................................2
1.1 Project purpose......................................................................................................................2
1.2 Business and project goals and objectives.............................................................................2
1.3 Scope and expectations..........................................................................................................3
1.4 Assumptions and Constraints................................................................................................4
2. Project work plans.......................................................................................................................5
2.1 Work Breakdown structure....................................................................................................5
2.2 Staffing plan...........................................................................................................................6
2.3 Project schedule.....................................................................................................................8
2.4 Project budget......................................................................................................................10
3. Project control plans..................................................................................................................11
3.1 Communication plan............................................................................................................11
3.2 Quality management plan....................................................................................................15
3.3 Change management plan....................................................................................................17
3.4 Issue management plan........................................................................................................19
3.5 Risk management plan.........................................................................................................21
Bibliography..................................................................................................................................26
Appendix: Gantt chart....................................................................................................................29

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PROJECT MANAGEMENT
1. Project plan overview and critical assumptions
The project mainly focuses on the renovation of “Parkway parade” which is a shopping
center located in Marine parade, Singapore. The mall was mainly opened on 9th March 1984 and
it is one of the first suburban shopping mall in Singapore (Lendlease.com 2017). However, in
the year 2000, the mall was sold to the Pacific Insurance Company and subsequently “Lende
Lease” was appointed for managing the mall. The mall was renovated for expansion and for
incorporating food court, alfresco-dining area, rows of retail shops and for the extension of
APIC2.
1.1 Project purpose
The main purpose of the project is to renovate “Parkway Parade” so that the shopping
mall remains ahead of competition especially from malls in the East and others from Orchard
belt. The renovation of the mall also helps in providing proper shopping experience to the
customers. The construction of food court ,alfresco-dining area, rows of retail shops and
extensions of APIC2 are helpful in providing additional facility to the people of Singapore.
1.2 Business and project goals and objectives
The main goal of the project is to renovate the shopping mall by incorporating alfresco-
dining area, rows of retail shops and amusement center for providing proper facility to the people
of Singapore. The renovation of the mall is also done in order to keep it ahead of competition
from various other competitors of Singapore.
The main objectives of the project are as follows:
 To keep the shopping mall ahead of competition in the market of Singapore
 To provide proper facility to the people of Singapore

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PROJECT MANAGEMENT
 To increase the annual revenue that is collected from the Parkway Parade shopping mall.
1.3 Scope and expectations
The scope of the project is divided into two categories, which include in scope as well as
out-scope.
In-scope:The in scopes of the project are provided below:
 Renovation of Parkway Parade
 Incorporation of alfresco-dining area, rows of retail shops and amusement center within
the shopping mall
 To complete the entire project of renovation within the year 2012
 To complete the entire project within the budget that is around $ 600,000
Out-scope:The out scope of the project is provided below:
 To expand the shopping mall outside Singapore
 to build number of branches of the Parkway Parade mall
Expectation:
The expected outcomes of the project are as follows:
 The entire project must be completed within the time that is assumed during the
initiation phase of the project
 The entire project must be completed successfully within the year 2012.
 To complete the renovation for keeping the mall ahead of its competitors
 The renovated mall

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PROJECT MANAGEMENT
1.4 Assumptions and Constraints
The assumption that is mainly made before renovating the Parkway Parade shopping
mall is the budget. It is estimated that the entire project will be successfully completed within the
estimated budget that is around $600,000 by 2012. The estimated budget includes all the
additional expenses of the project. It is also assumed that the entire project will be successfully
completed for offering proper services to the people of Singapore.
The various constraints of the project are provided below:
Cost: The renovation of the shopping all will be completed within the $600,000. If the
project manager are not able to renovate the entire project within the budget that is estimated
during the initiation phase then number of challenges arises in the project.
Schedule: The entire project must be completed as per the created schedule. If the project
manager does not follow the schedule then number of risk will arise in the project.
Scope: The scope of the project is helpful in elaborating the project objectives s that the
entire project will be completed successfully within the assumed budget and time.

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PROJECT MANAGEMENT
2. Project work plans
2.1 Work Breakdown structure
Figure 1: WBS
(Source: Created by Author)

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PROJECT MANAGEMENT
2.2 Staffing plan
Role Project Responsibility Skills Required
Number
of Staff
Required
Duration
Required
Project
Team
Project
Manager
Project status, project lead Project Management 1 5 years
Finance
manager
reviews financial
department
Project Management 8 4 years
Site
supervisor
Provides guidance to the
workers
construction skills 7 4 years
Contractor Takes the responsibility of
constructing parkway
parade
Construction skills 10 9 years
Plumber Build the necessary
furniture for the mall
Plumbing skills 25 2 years

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PROJECT MANAGEMENT
System
planner
Helps in launching APIC System related
knowledge
25 4 years
Risk
manager
Analyzes risk in the
project
Project management,
knowledge on risks
10 1 year
Project
planner
Make proper planning on
the project
Project management 18 3 year
Name of the
staff
Type
Max.
Units
Std. Rate Ovt. Rate Cost/Use Accrue At
Base
Calendar
Project
manager
Work 100% $40.00/hr $0.00/hr $0.00 Prorated Standard
Finance
manager
Work 100% $50.00/hr $0.00/hr $0.00 Prorated Standard
Site supervisor Work 200% $60.00/hr $0.00/hr $0.00 Prorated Standard
Contractor Work 100% $50.00/hr $0.00/hr $0.00 Prorated Standard
Plumber Work 500% $30.00/hr $0.00/hr $0.00 Prorated Standard
System planner Work 300% $37.00/hr $0.00/hr $0.00 Prorated Standard
Risk manager Work 100% $40.00/hr $0.00/hr $0.00 Prorated Standard
Project planner Work 400% $35.00/hr $0.00/hr $0.00 Prorated Standard

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PROJECT MANAGEMENT
2.3 Project schedule
Task Name Duration Start Finish
Renovation of parkway parade 1152 days Thu 8/21/03 Fri 1/18/08
Project planning 134 days Thu 8/21/03 Tue 2/24/04
Requirement analysis 20 days Thu 8/21/03 Wed 9/17/03
Analysis of project nature 24 days Thu 9/18/03 Tue 10/21/03
Resource estimation 19 days Wed 10/22/03 Mon 11/17/03
Estimation of time schedule 17 days Tue 11/18/03 Wed 12/10/03
Budget estimation 18 days Thu 12/11/03 Mon 1/5/04
Manpower estimation 15 days Tue 1/6/04 Mon 1/26/04
Additional resource analysis 21 days Tue 1/27/04 Tue 2/24/04
Project planning completion 0 days Tue 2/24/04 Tue 2/24/04
Initiation phase 445 days Wed 2/25/04 Tue 11/8/05
Procurement of funds 34 days Wed 2/25/04 Mon 4/12/04
Appointment of stakeholders 27 days Tue 4/13/04 Wed 5/19/04
Arrangement of meetings 38 days Thu 5/20/04 Mon 7/12/04
Arrangement of financial plans 29 days Tue 7/13/04 Fri 8/20/04
Appointment of contractors and workers 34 days Mon 8/23/04 Thu 10/7/04
Preparation of blueprint 37 days Fri 10/8/04 Mon 11/29/04
Procurement of land area 28 days Tue 11/30/04 Thu 1/6/05
Release of local notice 29 days Fri 1/7/05 Wed 2/16/05

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PROJECT MANAGEMENT
Budget allocation 25 days Thu 2/17/05 Wed 3/23/05
Resource procurement 31 days Thu 3/24/05 Thu 5/5/05
Time division 29 days Fri 5/6/05 Wed 6/15/05
Duty allocation 32 days Thu 6/16/05 Fri 7/29/05
Analysis of risks 42 days Mon 8/1/05 Tue 9/27/05
Risk mitigation and modification plan 30 days Wed 9/28/05 Tue 11/8/05
completion of object planning phase 0 days Tue 11/8/05 Tue 11/8/05
Execution phase 480 days Wed 11/9/05 Tue 9/11/07
Preparation of land 34 days Wed 11/9/05 Mon 12/26/05
Resources assortment 37 days Tue 12/27/05 Wed 2/15/06
Initiation shopping center construction 29 days Thu 2/16/06 Tue 3/28/06
Framework construction of shopping center 36 days Wed 3/29/06 Wed 5/17/06
Selection of spaces for entry and exit 28 days Thu 5/18/06 Mon 6/26/06
Bricks application 32 days Tue 6/27/06 Wed 8/9/06
Plumbing 26 days Thu 8/10/06 Thu 9/14/06
Installation of electrical circuits 31 days Fri 9/15/06 Fri 10/27/06
Concrete application 22 days Mon 10/30/06 Tue 11/28/06
Color application 29 days Wed 11/29/06 Mon 1/8/07
Implementation of safety system 34 days Tue 1/9/07 Fri 2/23/07
Application of tiles 41 days Mon 2/26/07 Mon 4/23/07
Implementation of alfresco-dining area 39 days Tue 4/24/07 Fri 6/15/07

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Constructing food court 29 days Mon 6/18/07 Thu 7/26/07
Construction of amusement centre 33 days Fri 7/27/07 Tue 9/11/07
Completion of project execution 0 days Tue 9/11/07 Tue 9/11/07
Development phase 88 days Wed 9/12/07 Fri 1/11/08
Formation of Parkway Parade board 19 days Wed 9/12/07 Mon 10/8/07
Vision statement preparation 16 days Tue 10/9/07 Tue 10/30/07
Preparation of standard service 19 days Wed 10/31/07 Mon 11/26/07
Launching APIC 18 days Tue 11/27/07 Thu 12/20/07
Finalization 16 days Fri 12/21/07 Fri 1/11/08
Development phase completion 0 days Fri 1/11/08 Fri 1/11/08
Closure phase 5 days Mon 1/14/08 Fri 1/18/08
Stakeholder sign off 2 days Mon 1/14/08 Tue 1/15/08
Post project review 3 days Wed 1/16/08 Fri 1/18/08
Closure phase complete 0 days Fri 1/18/08 Fri 1/18/08
In the project schedule, duration is 1152 days that is 3.15 years. However according to
the start and end date of the project the duration is 5 years. This is because in the duration,
Saturday and Sunday are excluded.
2.4 Project budget

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PROJECT MANAGEMENT
3. Project control plans
3.1 Communication plan
Communication
Type
Objective Medium Frequency Audience Owner Deliverable
Project Team
meeting
This meeting
is arranged in
order to
discuss the
risks as well
as challenges
that are
associated
with the
project. This
is necessary
for
implementin
g appropriate
methods so
that risks
associated
with the
project will
be mitigated
easily and the
Face to
face
As required Project team Project
manager
Agenda

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PROJECT MANAGEMENT
project
progress will
not be
affected.
Project status
report
The meeting
is mainly
arranged in
order to
know the
status of the
project. This
is very much
necessary for
the project
manager to
have
information
about project
status in
order to make
clear that the
project is
following the
right
schedule for
Face to
face
Conference
hall
Weekly Project
manager,
Stakeholders
Project
team
Meeting
minutes

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PROJECT MANAGEMENT
successful
execution
Monthly
project
meetings
The monthly
meetings are
mainly
arranged in
order to
discuss about
the progress
of the
project. The
site
supervisor as
well as
contractor
provides
proper
information
about the
project
progress. The
information
is very much
helpful in
completing
Face to face
Conference
Monthly Stakeholder
s
Contractors
Site
Supervisors
Project
managers
Progress
report

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PROJECT MANAGEMENT
the entire
project
successfully
within the
estimated
budget as
well as time.
Kick off
meetings
The project
is mainly
arranged in
order to
introduce the
various
stakeholders
including the
workers
about the
concept of
the project as
well as
project
objectives.
The meeting
is also
helpful
Face to face Once Different
stakeholder
Project
sponsor
Project team
Project
manager
Agenda
Meeting
minutes

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PROJECT MANAGEMENT
providing
guidelines to
the
stakeholders
of the project
so that the
entire project
will be
completed
effectively.
3.2 Quality management plan
Identification of
factors
Purpose Measurement of
project quality
Analyzing
project quality
Quality control
Training
employees
The training of
the employees
must be done
properly so that
they can able to
complete the
project
successfully by
helping to achieve
proper quality
It is identified
that the quality of
training provided
is not of proper
quality and as a
result, the project
team face
difficulty in
completing the
renovation.
The quality of
training that is
provided must be
analyzed to
eliminate the gaps
as well as
challenges.
The project team
members must be
trained proper.
Appropriate
quality of training
must be provided
so that they can be
able to perform
well in order to
complete the

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PROJECT MANAGEMENT
outcomes. entire project
successfully.
Implementation
of site for online
business
The shopping mall
“Parkway Parade”
does not provide
the facility of
online shopping to
its customers.
This can minimize
the number of
customers in such
a competitive
market.
The
implementation of
site is necessary
for providing the
facility of online
shopping so that
more people get
attracted towards
the mall and the
organization an be
able to give tough
competition to its
competitors.
The quality of
project that will
increase after
implementation of
the site must be
analyzed.
This is necessary
for increasing the
sales of the mall
and for providing
tough competition
in the market of
Singapore to other
malls.
Quality of the
materials used
Poor quality of
materials cannot
be helpful in the
renovation of the
project, as it
create number of
challenges as well
as issues during
the project
progress. The
The qualities of
materials that are
provided are not
of proper quality
as a result the
project manager’s
face challenges
during the
renovation of the
mall.
The quality of the
materials that is
utilized must be
analyzed properly
so that the
problems
associated with
poor quality of
materials can be
resolved.
High quality of
materials must be
utilized so that the
project renovation
can be completed
successfully.

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PROJECT MANAGEMENT
progress can
obstruct the
project therefore it
is very much
important to use
appropriate
quality material.
3.3 Change management plan
Change
identification
Purpose Change analysis Change request
approval
Change tracking
Providing
training
Training must be
provided in order
to make sure that
the project team
members are
performing
properly for the
project success.
The project
manager analyzes
the viability of the
change.
The project
manager is
responsible for
change request
approval.
A log book is
utilized for
making sure that
the training is
provided to the
members
regularly so that
they can perform
well for achieving
proper success.
Utilizing high
quality materials
If the mall of
Parkway Parade
utilizes high
quality material
The change
analysis is done
by the project
manager in order
The project
manager will
approve the
A master log was
utilized for
tracking the
change and in

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PROJECT MANAGEMENT
then thee quality
of the project also
enhances.
to make sure that
the change is
viable.
request. order to make sure
that the change
management is
followed properly
Making the
business online
The shopping mall
“Parkway Parade”
does not provide
the facility of
online shopping
too its customers.
This can minimize
the number of
customers in such
a competitive
market. The
implementation of
site is necessary
for providing the
facility of online
shopping so that
more people get
attracted towards
the mall and the
organization an be
able to give tough
The change
analysis is done
by the project
manager in order
to make sure that
the change is
viable.
The project
manager will
approve the
request.
A master log was
utilized for
tracking the
change and in
order to make sure
that the change
management is
followed properly

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PROJECT MANAGEMENT
competition to its
competitors.
3.4 Issue management plan
Issue Description Purpose Who is involved Mitigation
Improper
communication
If communication is
not proper among
various stakeholders
then it s quite difficult
to manage the project
properly and thus
improper
communication is
considered as one of
the major factor. It
creates problem in the
project progress and
thus the project
managers requires
extending the time of
the project which
further enhances
project budget.
The main
purpose of this
plan is to resolve
the issue so that
the stakeholders
of the project can
communicate
properly.
Project manager Proper
strategies as
well as methods
must be
followed so that
the
stakeholders
does not face
difficulty in
communicating
with other
stakeholders of
the project.
Use of poor
quality
If the materials that
are utilized for
Quality materials
must be utilized
Project manager Proper quality
materials must

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PROJECT MANAGEMENT
materials renovating the
shopping mall s of
poor quality then
number of issues
created before the
project manager.
Therefore it is quite
important to utilize
materials that are of
appropriate quality.
to make the
renovation of the
shopping mall
successful.
be selected for
renovating the
Parkway
Parade project.
The materials
must be
reviewed
before using
them in the
renovation
process.
Untrained
workers
If the workers are not
trained properly then
number of issues
arises in the project
including obstruction
in the project
progress. Therefore it
is very much
important to hire
workers for the
project who are
trained and have
appropriate
knowledge about the
This is necessary
for renovating the
shopping mall
properly within
the estimated
budget and time.
Project manager The workers of
the project must
have
appropriate
knowledge an
out the project r
they must be
trained so that
they does not
face any
problem in
completing the
entire project.

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PROJECT MANAGEMENT
project.
Improper
concept about
project
objectives
If the objectives of
the project are not
defined or elaborated
properly then it is
quite difficult task to
complete the project
successfully for
achieving the
expected outcome.
The project team will
face problem in
executing the project.
The main
purpose is to
provide clear idea
about the aims as
well as objectives
of the project so
that the project
manager will be
able to execute
the project
successfully
within the
assumed time and
budget.
Project manager It is quite
important for
the project
managers to
provide clear
idea about the
objectives of
the project.
This is very
much necessary
to progress with
the project
schedule
properly so
that the entire
project will be
completed
successfully.
3.5 Risk management plan
Risk Type of
risk
Risk
statement
Impact Probability Risk
exposure
Risk
mitigation
Improper
budget
Negative If the budget
of the project
Moderate Likely Medium The budget
of the project

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PROJECT MANAGEMENT
estimation risk is not
estimated
properly then
the project
manager will
face number
of problems
including
difficulty in
completing
the entire
project
within the
estimated
budget as
well as time.
must be
estimated
properly by
including all
the
additional
expenses of
the project. It
is suggested
that the
project
manager
must review
the market
before
estimating
the cost of
the resources
for the
project.
Improper
management
Negative
risk
If the project
managers are
unable to
manage the
project
Major Very likely High The project
managers
must manage
the entire
project

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PROJECT MANAGEMENT
effectively
then it is
quite difficult
to complete
the entire
project
within time
successfully.
properly.
The project
schedules
must be
followed so
that the
entire project
will be
completed
successfully.
Proper
strategies as
well as
methods
must also be
followed so
that the
entire project
will be
managed
properly.
Inappropriate
time
estimation
Negative
risk
If the time
that is
needed for
completing
Moderate Probable Medium The time
that is
required vfor
completing

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PROJECT MANAGEMENT
the entire
project is not
estimated
properly then
the project
manager will
face number
of problems
related with
the project
including
difficulty in
progressing
with the
renovation of
the shopping
mall.
the project
must be
estimated
properly so
that the
entire project
of renovation
will be
successfully
completed
within the
estimated
budget.
Improper
risk analysis
Negative
risk
The risks
that are
related with
the project
should be
analyzed
properly If
the risks are
Major Very likely High The risks as
well as
challenges
associated
with the
project must
be identified
properly so