1PROJECT MANAGEMENT 2.7 Progress reporting (Timelines) Project Name:Beachside CottageDate:5/10/19 Past time period MilestonesApproved plan Actual progress VariancesCauses Initiation phase12thMay 201916thMay 20194 daysDelayinthe identification of the project stakeholders Planning phase17thMay 201920thMay 20193 daysDelayinthe planningofthe projectasper requirements Execution Phase21stMay 201925thMay 20194 daysChangeinthe projectschedule and project budget Current time period MilestonesPlan until next period Risks before next report Issues before next report Changes to be approved Purchase of the suppliers 26thMay 2019Delayin purchasingof theraw Lackofproject planning Changes in the project plan
2PROJECT MANAGEMENT materials Repaid of the wooden shutters 28thMay 2019Delayinthe repair work Lackof knowledgeto handle construction work Changes into the repair work Paint of the ceilings28thMay 2019Delay into the painting work Lack of project resources working in the project Changes into the hiring of the resources Paint of the exterior walls 31stMay 2019Absence of the painter Lack of project resources working in the project Changes into the hiring of the resources Future time period MilestonesPlan to completion Risks after next period Issues after next report Painting as well as cleaning of the walls before painting 12thMay 2019Painting is not done properly Lack of project resources working in the project Washing of the windows 17thMay 2019Washing is not done properly Absence of the workers Project closure phase21stMay 2019Draft of the project is not prepared Final submission is not done on time
5PROJECT MANAGEMENT 2.9 Risk management The risks which are identified into the project charter are relevant and in this project report, those risks are identified. In order to rank identified project risks, the method which is used is qualitative method. It is the process to cover impact as well as probability of the risks into the numerical form. The numerical form is used for determining the project costs as well as time contingency of the project plan of beachside cottage. Following table shows the risk management plan of identified risks and those are scored by the formula: risk score = Probability * Impact Risk Description ImpactCategoryProbability (1 to 5) Impact (1 to 5) Score (P*I) Mitigation Strategy 1.Unplanned project changes Scope creepBusiness4832Change requests are to be approved. 2. Overrun of theproject cost Exceedof theproject budget Financial3515Budgetisto beplanned properly. 3.Delayin deliveringof theraw materials Supplier delay Operation3412Thesupplier should deliver theproducts toclienton scheduled time. 4.Resource risk Recruitment and selection Business224Properhiring ofproject resources basedon skillsand
6PROJECT MANAGEMENT knowledge required. 5.Quality issue Project delay Quality339Quality management plan 6. Design riskFailureof the construction work Design2412A blueprint is requiredfor the design of cottage repair. 7.Schedule risk Project delay Business236Proper planningof the project as perthe client’s requirements. 8. Lack of the management support Project delay Business224The management should provide support to the team membersto completethe work.
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