University of Houston-Clear Lake, EMGT5430: High Marks Project Report

This report details the project management plan for the High Marks Silver Anniversary celebration. It encompasses a project charter outlining the project's purpose, objectives, and scope, along with a business case justifying the event. The report includes detailed plans for integration, scope, schedule, cost, stakeholder, communication, risk, resource, and procurement management. Key components are the project charter, executive summary, scope statement, schedule, cost estimates, stakeholder register, risk register, and resource allocation. The project aims to celebrate the company's 25th anniversary, strengthen corporate culture, and improve employee morale. The report outlines project constraints, assumptions, deliverables, acceptance criteria, and a milestone schedule. The budget is set at $262,500, and the project's success will be measured by its ability to meet objectives within budget and schedule. The report also covers the project team's roles and responsibilities, along with the project's critical activities and schedule.

High Marks Silver Anniversary Celebration
Project Report
March 14, 2021
EMGT5430: Professional Project Management
Dr. Jeong Young
University of Houston-Clear Lake
Spring 2021 8W1
Team 1
Team Members:

Table of Contents
1) Team Charter - Who Does What 4
2) Business Case 5
3) Project Charter 5
4) Executive Summary 8
5) Integration Management Plan 8
6) Scope Management 8
7) Schedule Management 11
8) Cost Management 11
1) Units of Measure 11
2) Level of Precision and Accuracy 12
3) Organizational Procedures Links 12
4) Control Thresholds 13
5) Rules of Performance Measurement 13
6) Reporting Formats 14
7) Additional Details 20
Cost Estimate 21
Cost Baseline 1
Cost S-Curve 1
9) Stakeholder Management 2
10) Communication Plan 2
11) Risk Management Plan 2
2) Methodology 3
Risk Identification 3
Risk Analysis 4
Risk Response Planning 5
Risk Monitoring and Control 6
3) Roles and Responsibilities 8
5) Timing 9
6) Risk Categories 10
7) Stakeholder Risk Appetite 10
Risk Register 10
13) Resource Management 0
14) Procurement Management 0

Requirements – For Reference Only, To Be Deleted
● Table of Contents with page number*
● Who does what**
● Business Case (refer to 4.1.1.1)
● Project Charter (refer to 4.1.3.1) - TEAM ASSIGNMENT WK 2
● Results-filled executive summary
● Integration management plan
● Scope management
○ Scope Management Plan (refer to 5.1.3.1)
○ Scope statement (refer to 5.3.3.1) - TEAM ASSIGNMENT WK 2
○ Scope baseline (refer to 5.4.3.1)
● Schedule management
○ Gantt chart/Network Diagram/Critical Path - TEAM ASSIGNMENT WK
4
○ Fast Tracking/Crashing
● Cost management
○ Cost Management plan (refer to 7.1.3.1) - TEAM ASSIGNMENT WK 5
○ Cost estimation/classification (refer to 7.2.3.1) - TEAM ASSIGNMENT
WK 5
○ Time-Phased Budget Allocation (refer to 7.3.3.1) - TEAM
ASSIGNMENT WK 5
○ S-chart
● Stakeholder management
○ Stakeholder register (refer to 13.1.3.1)
○ Stakeholder analysis/engagement plan (refer to 13.2.3.1)
● Communication plan
● Risk management plan
o Risk Management Plan (refer to 11.1.3.1) - TEAM ASSIGNMENT WK 5
o Risk register (refer to 11.2.3.1) - TEAM ASSIGNMENT WK 5
● Quality management
o Quality Management Plan (refer to 8.1.3) - TEAM ASSIGNMENT WK
6
o Quality metrics (refer to 8.1.3.2) - TEAM ASSIGNMENT WK 6

● Resource management
o Resource management plan (refer to 9.1.3.1) - TEAM ASSIGNMENT
WK 7
o Resource requirement (refer to 9.2.3.1) - TEAM ASSIGNMENT WK 7
o Resource breakdown structure (refer to 9.2.3.3) - TEAM ASSIGNMENT
WK 7
● Procurement management
o Procurement management plan (refer to 12.1.3.1)
o Procurement strategy (refer to 12.1.3.2)
o Procurement Statement of Work (refer to 12.1.3.4)
o Source selection criteria (refer to 12.3.5)
1) Team Charter - Who Does What
Section Sub-section Name
Business Case Gladys T.
Results-filled Executive
Summary
Integration Management
Plan
Scope Management
Scope Management Plan
Scope Statement
Scope Baseline
Schedule Management
Gantt Chart/Network Diagram/Critical Path
Fast Tracking/Crashing
Cost Management
Cost Management Plan
Cost Estimation/Classification
Time-Phased Budget Allocation
Stakeholder Management
Stakeholder Register Gladys T.
Stakeholder Analysis/Engagement Plan Gladys T.
Communication Plan

Risk Management Plan
Risk Management Plan
Risk Register
Quality Management
Quality Management Plan
Quality Metrics
Resource Management
Resource Management Plan Reiko H.
Resource Requirement Reiko H.
Resource Breakdown Structure Reiko H.
Procurement Management Procurement Management Plan Louis F.
Procurement Strategy Louis F.
Procurement Statement of Work Louis F.
Source Selection Criteria Louis F.
2) Business Case
● Celebrate 25th years in business
● Recognize the silver anniversary of the company
● Recognize hard working employees
● Adequate funding
● Engagement from all stakeholders
● Accommodations
● Proper time planning
3) Project Charter
Project Start Date: January 30, 2021
Project End Date: July 30, 2021
Project Manager
● Robin Adams; [phone]; [e-mail]

● Director of Human Resources.
● Responsible for planning all activities pertaining to Silver Anniversary Celebration functions.
● Decision authority for all social functions.
● Budget authority for purchases relevant to Silver Anniversary Celebration function, not to
exceed $500,000.
Project Sponsor
● Matt Fuller; [phone]; [e-mail]
● President and Chief Executive Officer.
● Delegated budget authority for the event to Robin Adams.
● Decision authority for any strategic planning content presented to employees.
Project Purpose
High Marks has been in business twenty-five years and the Project Sponsor, Matt Fuller,
wants to gather all the employees together to recognize the silver anniversary of the company.
The purpose of the High Marks Silver Anniversary Celebration Project is to initiate, plan,
execute, monitor and control, and close all activities relative to the silver anniversary celebration
functions.
Project Description
Utilizing a small team of administrative personnel, the High Marks Silver Anniversary
Project Team will plan and coordinate all activities surrounding the celebration of High Marks
25th anniversary. Key deliverables are arranging travel for geographically dispersed employees to
Bethesda, MD for the anniversary functions, arranging space and catering for the functions,
facilitating the functions, and providing anniversary mementos to all employees.
Project Objectives and Success Criteria
The goal is to celebrate the silver anniversary, unveil High Marks’ strategic vision,
strengthen the corporate culture, and improve employee morale. The measurable objectives are:
1. 90% of High Marks’ employees will attend the Silver Anniversary events.
2. Employees will demonstrate an understanding of the strategic direction of High Marks by
100% participation of all attendees in a strategic planning exercise.
3. Employees will establish relationships with cohorts in other geographic districts by
intermingling at Silver Anniversary functions.
4. Employees will have increased morale following the Silver Anniversary events, shown on
the Annual Employee Satisfaction Survey.

Project Requirements
● Arrange for travel and lodging for all employees from their district offices to Bethesda, MD
on July 24th, returning on July 27th.
● Reserve a facility for a welcoming dinner reception to be held on July 24th.
● Reserve a meeting facility for the 25th anniversary celebration to be held on July 26th.
● Coordinate presentations for the celebration.
● Provide audio-visual equipment for the celebration.
● Arrange for catering for the celebration.
● Select, procure, and provide anniversary mementos for each employee.
Project Risks
● If employees lack interest as shown by low attendance, then High Marks will not be able to
share the strategic vision, improve the corporate culture and boost morale.
● If funding is insufficient due to an unanticipated number of attendees or underestimated
event costs, then the project will exceed budget constraints.
● If COVID restrictions continue, including restrictions on travel, meeting spaces, or gathering,
then the meeting will have to be conducted virtually.
● If there is a delay in delivery of mementos, then there will be an additional expense to ship
mementos following the event.
● If the guest speaker is unable to attend, then employee morale will be impacted.
● If an employee is hired after travel arrangements have been made, then additional
arrangements must be made, possibly at a higher cost.
Summary Milestone Schedule
Milestone Date
Project Charter and Scope approved 01/31/2021
Project Kick-off Meeting 02/01/2021
Silver Anniversary plans approved 03/01/2021

Silver Anniversary services contracted 04/01/2021
Silver Anniversary agenda finalized 06/01/2021
Silver Anniversary mementos received 07/01/2021
Silver Anniversary presentations completed 07/15/2021
Silver Anniversary Welcoming Reception 07/24/2021
Silver Anniversary Celebration 07/26/2021
Review invoices and send to Accounts Payable department 08/15/2021
Project closeout documentation approval 08/30/2021
Budget Information
The budget allocated for this project is $262,500. Of the total budget, approximately
$170,000 is budgeted for travel, lodging, and meals, $25,000 for venues and catering, and
$17,500 for anniversary mementos and door prizes. Labor costs associated with planning and
attendance are estimated to be $50,000.
Project Approval Requirements
The Project Sponsor, Matt Fuller, determines project success based upon the degree to
which the project meets its objectives within the cost and schedule guidelines.
Project Exit Criteria
● All Silver Anniversary functions are completed.
● Out-of-town employees arrive home.
● Each employee receives anniversary mementos.

● All contractual commitments to event suppliers are settled, including venue providers,
caterers, memento suppliers, and guest speakers.
Key Stakeholders
● Matt Fuller, President, Chief Executive Officer, and Project Sponsor
● Robin Adams, Director of Human Resources and Project Manager
Roles & Responsibilities
Name Role Position Contact Information
Robin Adams Project
Manager
Project Manager [e-mail]
Matt Fuller Sponsor CEO [e-mail]
Shirley Arbo Advisor Client Representative [e-mail]
Jennifer
Lampkin
Team
Member
Customer Services,
Director
[e-mail]
Timothy
Hernandez
Team
Member
IT, Director [e-mail]

4) Executive Summary
5) Integration Management Plan
6) Scope Management
Project Scope Description
The project team will:
● Make all travel and lodging arrangements.
● Make reservations for the welcoming reception.
● Check-in employees, provide them name badges, present them with an
anniversary memento, and provide door prize tickets when they arrive to the
celebration.
● Facilitate an icebreaker requiring employees to intermingle.
● Produce and show a video reflecting on the past 25 years of High Marks.
● Arrange audio-video support for the celebration.
● Arrange for a guest motivational speaker to speak.
● Facilitate a trivia game with each table of employees competing as a team.
● Facilitate a strategic contribution brainstorming session, including collecting the
ideas, compiling a master list following the meeting, and disseminating the list of
ideas to all employees.
● Arrange for breaks throughout the celebration.
● Manage the meeting by setting the agenda, monitor the time consumed by
speakers, and control the flow of the celebration.
● Process bills from supplier.
● Process travel reimbursement requests from attendees.
● Compare survey results received prior and following the celebration to discern if
employee morale has improved.
Exclusions
The project team will not:
● Be responsible for airfare or lodging other than that arranged by High Marks.
● Cover arrangements or expenses for travel companions.
● Arrange extended stays in DC prior to or beyond July 24-27.
● Reimburse personal expenses incurred beyond the allowed per diem rate.
Project Deliverables and Acceptance Criteria

Project Deliverables Acceptance Criteria
Air travel arrangements Attendees booked on flights by April 1
Instructions for local travel via DC Metro Instructions e-mailed by July 1
Lodging arrangements Reservation confirmed by April 1
Facility reservations for welcoming reception Facility confirmed by April 1
Catering for welcoming reception Catering confirmed by April 1
Meeting facility reservations for celebration Facility confirmed by April 1
Catering arrangements for celebration Catering confirmed by April 1
Audio-visual equipment for the celebration. Equipment confirmed by April 1
Anniversary mementos for each employee Mementos delivered to each employee within
30 days of celebration
Door prizes for attendees Prizes awarded on day of event
Guest speaker arrangements Speaker confirmed by April 1
Attendee check-in services Each attendee display name badge
Icebreaker facilitation services 100% attendee engagement
Strategic contribution facilitation services Employee ideas preserved and disseminated
within 30 days of celebration
Meeting facilitation services All agenda items begin and end as scheduled
Supplier receipt processing Suppliers paid within 30 days of event
Report on celebration impact on employee
morale
Report delivered within 30 days of receiving
survey results
Project Constraints
● Celebration must occur on or near the anniversary date of July 25th.

Assumptions
● COVD restrictions are eased and gatherings are allowed.
● Employees will want to attend.
7) Schedule Management
Schedule Summary – Critical activities shown by red “Yes” in critical column.
WBS Task Name Critical Total
Slack Duration
1 Project Management Activities Yes 0 days 156 days
1.1 Project Initiation Yes 0 days 8.06 days
1.1.1 Project Start Yes 0 days 0 days
1.1.2 Assign Project Manager Yes 0 days 1 day
1.1.3 Form project team Yes 0 days 5 days
1.1.4 Develop project charter Yes 0 days 2 days
1.1.5 Project kick-off meeting No 0.94 days 0.06 days
1.2 Project Planning Yes 0 days 125 days
1.2.1 Develop project plan Yes 0 days 5 days
1.2.2 Identify attendees Yes 0 days 5 days
1.2.3 Project reviews Yes 0 days 124.94 days
1.2.3.1 Project plan review No 0.94 days 0 days
1.2.3.2 Detailed plan review Yes 0 days 0 days
1.2.3.3 Readiness review Yes 0 days 0 days
1.2.4 Update project plan as necessary Yes 0 days 47 days
1.3 Project Execution Yes 0 days 128.94 days
1.3.1 Project Team Meetings No 0.94 days 124 days

WBS Task Name Critical Total
Slack Duration
1.3.2 Host reception Yes 0 days 0 days
1.3.3 Day of Rest Yes 0 days 1 day
1.3.4 Host celebration Yes 0 days 0 days
1.4 Project Close Yes 0 days 11 days
1.4.1 Develop lessons learned Yes 0 days 5 days
1.4.2 Brief lessons learned to sponsor Yes 0 days 1 day
1.4.3 Archive lessons learned Yes 0 days 5 days
1.4.4 Project end Yes 0 days 0 days
2 Travel Coordination No 38 days 50 days
2.1 Travel Management No 58 days 10 days
2.1.1 Finalize travel budget No 58 days 10 days
2.1.2 Approve travel budget No 58 days 0 days
2.2 Flight Arrangements No 38 days 50 days
2.2.1 Research flights No 38 days 20 days
2.2.2 Develop flight plan No 38 days 10 days
2.2.3 Flight plan approval No 38 days 0 days
2.2.4 Reserve flights No 73 days 3 days
2.2.5 Notify travelers of travel plans No 66 days 10 days
2.3 Local Transportation No 81 days 2 days
2.3.1 Local Transportation Planning No 81 days 1 day
2.3.2 Develop local transportation communication No 81 days 1 day
2.3.3 Communicate local transportation options No 81 days 0 days

WBS Task Name Critical Total
Slack Duration
2.4 Accommodation Arrangements No 38 days 40 days
2.4.1 Research accommodations No 38 days 20 days
2.4.2 Develop accommodation plan No 38 days 10 days
2.4.3 Accommodation plan approval No 38 days 0 days
2.4.4 Reserve accommodations No 66 days 10 days
3 Venues & Catering Coordination Yes 0 days 48 days
3.1 Venue & Catering Management Yes 0 days 10 days
3.1.1 Develop venue & catering budget Yes 0 days 10 days
3.1.2 Approve venue & catering budget Yes 0 days 0 days
3.2 Venue planning Yes 0 days 25 days
3.2.1 Research venues Yes 0 days 15 days
3.2.2 Venue selection approval Yes 0 days 5 days
3.2.3 Reserve venues Yes 0 days 5 days
3.3 Catering planning Yes 0 days 13 days
3.3.1 Research caterers Yes 0 days 8 days
3.3.2 Catering selection approval Yes 0 days 0 days
3.3.3 Reserve catering Yes 0 days 5 days
4 Celebration Coordination Yes 0 days 71 days
4.1 Reception Coordination Yes 0 days 69 days
4.1.1 Travelers arrive Yes 0 days 0.16 days
4.1.2 Reception planning No 65.16 days 3 days
4.1.3 Coordinate reception Yes 0 days 0.84 days

WBS Task Name Critical Total
Slack Duration
4.1.3.1 Welcoming remarks Yes 0 days 0.13 days
4.1.3.2 Ensure attendee satisfaction Yes 0 days 0.45 days
4.1.3.3 Recognition of service Yes 0 days 0.13 days
4.1.3.4 Closing remarks Yes 0 days 0.13 days
4.2 Celebration Management Yes 0 days 5 days
4.2.1 Celebration planning Yes 0 days 5 days
4.2.2 Celebration agenda approved Yes 0 days 0 days
4.3 Speakers No 14 days 27 days
4.3.1 High Marks speakers No 38 days 27 days
4.3.1.1 Notify speakers No 38 days 1 day
4.3.1.2 Speakers prepare content No 38 days 20 days
4.3.1.3 Speakers develop presentations No 38 days 5 days
4.3.1.4 Build master presentation No 38 days 1 day
4.3.2 Guest speaker No 14 days 2 days
4.3.2.1 Identify guest speaker No 14 days 1 day
4.3.2.2 Approve guest speaker No 14 days 0 days
4.3.2.3 Invite guest speaker No 63 days 1 day
4.3.2.4 Guest speaker accepts No 63 days 0 days
4.4 Audio-visual equipment Yes 0 days 15 days
4.4.1 Audio visual equipment planning Yes 0 days 15 days
4.4.2 Audio-visual plan approval Yes 0 days 0 days
4.5 Event facilitation planning No 44.32 days 21 days

WBS Task Name Critical Total
Slack Duration
4.5.1 Attendee check-in planning No 44.32 days 5 days
4.5.2 Icebreaker session planning No 44.32 days 5 days
4.5.3 High Marks trivia game planning No 44.32 days 1 day
4.5.4 Strategic planning brainstorming planning No 44.32 days 5 days
4.5.5 Door prize giveaway planning No 44.32 days 5 days
4.6 Mementos & Door Prizes No 13 days 44 days
4.6.1 Memento & door prize selection No 13 days 2 days
4.6.2 Memento & door prize approval No 13 days 0 days
4.6.3 Order mementos No 21 days 2 days
4.6.4 Memento order processing & shipping No 21 days 40 days
4.6.5 Receive mementos No 21 days 0 days
4.6.6 Purchase door prizes No 43.32 days 20 days
4.7 Celebration Day-of-Event Activities Yes 0 days 1 day
4.7.1 Check-in attendees and distribute mementos Yes 0 days 0.16 days
4.7.2 Assist with audio-visual equipment Yes 0 days 0.16 days
4.7.3 Give away door prizes Yes 0 days 0.17 days
4.7.4 Facilitate Icebreaker Yes 0 days 0.17 days
4.7.5 Facilitate trivia game Yes 0 days 0.17 days
4.7.6 Facilitate brainstorming session Yes 0 days 0.17 days
5 Post-Event Activities Yes 0 days 10 days
5.1 Travelers return Yes 0 days 1 day
5.2 Preserve brainstorming output No 9 days 10 days

WBS Task Name Critical Total
Slack Duration
5.2.1 Collect brainstorming output No 9 days 0 days
5.2.2 Compile master list of strategic planning ideas No 9 days 10 days
5.2.3 Send strategic planning ideas to employees No 9 days 0 days
5.3 Receipt processing No 1 day 7 days
5.3.1 Receive receipts from vendors No 1 day 5 days
5.3.2 Review receipts for accuracy No 1 day 2 days
5.3.3 Forward receipts to Accounting No 1 day 0 days
5.4 Assess event benefits Yes 0 days 7 days
5.4.1 Annual employee survey Yes 0 days 1 day
5.4.2 Assess survey results Yes 0 days 5 days
5.4.3 Report survey results Yes 0 days 1 day

Schedule Gantt Chart – Refer to MS Project file for detailed view.
ID WBS Task Name Critical Total Slack Duration
1 1 Project Management Activities Yes 0 days 156 days
2 1.1 Project Initiation Yes 0 days 8.06 days
3 1.1.1 Project Start Yes 0 days 0 days
4 1.1.2 Assign Project Manager Yes 0 days 1 day
5 1.1.3 Form project team Yes 0 days 5 days
6 1.1.4 Develop project charter Yes 0 days 2 days
7 1.1.5 Project kick-off meeting No 0.94 days 0.06 days
8 1.2 Project Planning Yes 0 days 125 days
9 1.2.1 Develop project plan Yes 0 days 5 days
10 1.2.2 Identify attendees Yes 0 days 5 days
11 1.2.3 Project reviews Yes 0 days 124.94 days
12 1.2.3.1 Project plan review No 0.94 days 0 days
13 1.2.3.2 Detailed plan review Yes 0 days 0 days
14 1.2.3.3 Readiness review Yes 0 days 0 days
15 1.2.4 Update project plan as necessary Yes 0 days 47 days
16 1.3 Project Execution Yes 0 days 128.94 days
17 1.3.1 Project Team Meetings No 0.94 days 124 days
18 1.3.2 Host reception Yes 0 days 0 days
19 1.3.3 Day of Rest Yes 0 days 1 day
20 1.3.4 Host celebration Yes 0 days 0 days
21 1.4 Project Close Yes 0 days 11 days
22 1.4.1 Develop lessons learned Yes 0 days 5 days
23 1.4.2 Brief lessons learned to sponsor Yes 0 days 1 day
24 1.4.3 Archive lessons learned Yes 0 days 5 days
25 1.4.4 Project end Yes 0 days 0 days
26 2 Travel Coordination No 38 days 50 days
27 2.1 Travel Management No 58 days 10 days
28 2.1.1 Finalize travel budget No 58 days 10 days
29 2.1.2 Approve travel budget No 58 days 0 days
30 2.2 Flight Arrangements No 38 days 50 days
31 2.2.1 Research flights No 38 days 20 days
32 2.2.2 Develop flight plan No 38 days 10 days
33 2.2.3 Flight plan approval No 38 days 0 days
34 2.2.4 Reserve flights No 73 days 3 days
35 2.2.5 Notify travelers of travel plans No 66 days 10 days
36 2.3 Local Transportation No 81 days 2 days
37 2.3.1 Local Transportation Planning No 81 days 1 day
38 2.3.2 Develop local transportation communication No 81 days 1 day
39 2.3.3 Communicate local transportation options No 81 days 0 days
40 2.4 Accommodation Arrangements No 38 days 40 days
41 2.4.1 Research accommodations No 38 days 20 days
42 2.4.2 Develop accommodation plan No 38 days 10 days
43 2.4.3 Accommodation plan approval No 38 days 0 days
44 2.4.4 Reserve accommodations No 66 days 10 days
45 3 Venues & Catering Coordination Yes 0 days 48 days
46 3.1 Venue & Catering Management Yes 0 days 10 days
47 3.1.1 Develop venue & catering budget Yes 0 days 10 days
48 3.1.2 Approve venue & catering budget Yes 0 days 0 days
49 3.2 Venue planning Yes 0 days 25 days
50 3.2.1 Research venues Yes 0 days 15 days
51 3.2.2 Venue selection approval Yes 0 days 5 days
52 3.2.3 Reserve venues Yes 0 days 5 days
53 3.3 Catering planning Yes 0 days 13 days
54 3.3.1 Research caterers Yes 0 days 8 days
55 3.3.2 Catering selection approval Yes 0 days 0 days
56 3.3.3 Reserve catering Yes 0 days 5 days
57 4 Celebration Coordination Yes 0 days 71 days
58 4.1 Reception Coordination Yes 0 days 69 days
59 4.1.1 Travelers arrive Yes 0 days 0.16 days
60 4.1.2 Reception planning No 65.16 days 3 days
61 4.1.3 Coordinate reception Yes 0 days 0.84 days
62 4.1.3.1 Welcoming remarks Yes 0 days 0.13 days
63 4.1.3.2 Ensure attendee satisfaction Yes 0 days 0.45 days
64 4.1.3.3 Recognition of service Yes 0 days 0.13 days
65 4.1.3.4 Closing remarks Yes 0 days 0.13 days
66 4.2 Celebration Management Yes 0 days 5 days
67 4.2.1 Celebration planning Yes 0 days 5 days
68 4.2.2 Celebration agenda approved Yes 0 days 0 days
69 4.3 Speakers No 14 days 27 days
70 4.3.1 High Marks speakers No 38 days 27 days
71 4.3.1.1 Notify speakers No 38 days 1 day
72 4.3.1.2 Speakers prepare content No 38 days 20 days
73 4.3.1.3 Speakers develop presentations No 38 days 5 days
74 4.3.1.4 Build master presentation No 38 days 1 day
75 4.3.2 Guest speaker No 14 days 2 days
76 4.3.2.1 Identify guest speaker No 14 days 1 day
77 4.3.2.2 Approve guest speaker No 14 days 0 days
78 4.3.2.3 Invite guest speaker No 63 days 1 day
79 4.3.2.4 Guest speaker accepts No 63 days 0 days
80 4.4 Audio-visual equipment Yes 0 days 15 days
81 4.4.1 Audio visual equipment planning Yes 0 days 15 days
82 4.4.2 Audio-visual plan approval Yes 0 days 0 days
83 4.5 Event facilitation planning No 44.32 days 21 days
84 4.5.1 Attendee check-in planning No 44.32 days 5 days
85 4.5.2 Icebreaker session planning No 44.32 days 5 days
86 4.5.3 High Marks trivia game planning No 44.32 days 1 day
87 4.5.4 Strategic planning brainstorming planning No 44.32 days 5 days
88 4.5.5 Door prize giveaway planning No 44.32 days 5 days
89 4.6 Mementos & Door Prizes No 13 days 44 days
90 4.6.1 Memento & door prize selection No 13 days 2 days
91 4.6.2 Memento & door prize approval No 13 days 0 days
92 4.6.3 Order mementos No 21 days 2 days
93 4.6.4 Memento order processing & shipping No 21 days 40 days
94 4.6.5 Receive mementos No 21 days 0 days
95 4.6.6 Purchase door prizes No 43.32 days 20 days
96 4.7 Celebration Day-of-Event Activities Yes 0 days 1 day
97 4.7.1 Check-in attendees and distribute mementos Yes 0 days 0.16 days
98 4.7.2 Assist with audio-visual equipment Yes 0 days 0.16 days
99 4.7.3 Give away door prizes Yes 0 days 0.17 days
100 4.7.4 Facilitate Icebreaker Yes 0 days 0.17 days
101 4.7.5 Facilitate trivia game Yes 0 days 0.17 days
102 4.7.6 Facilitate brainstorming session Yes 0 days 0.17 days
103 5 Post-Event Activities Yes 0 days 10 days
104 5.1 Travelers return Yes 0 days 1 day
105 5.2 Preserve brainstorming output No 9 days 10 days
106 5.2.1 Collect brainstorming output No 9 days 0 days
107 5.2.2 Compile master list of strategic planning ideas No 9 days 10 days
108 5.2.3 Send strategic planning ideas to employees No 9 days 0 days
109 5.3 Receipt processing No 1 day 7 days
110 5.3.1 Receive receipts from vendors No 1 day 5 days
111 5.3.2 Review receipts for accuracy No 1 day 2 days
112 5.3.3 Forward receipts to Accounting No 1 day 0 days
113 5.4 Assess event benefits Yes 0 days 7 days
114 5.4.1 Annual employee survey Yes 0 days 1 day
115 5.4.2 Assess survey results Yes 0 days 5 days
116 5.4.3 Report survey results Yes 0 days 1 day
Jan Feb Mar Apr May Jun Jul Aug Sep
Qtr 1, 2021 Qtr 2, 2021 Qtr 3, 2021

Network Diagram – Refer to MSP file for detailed view.
Network diagram layout set to not show summary activities.

8) Cost Management
The purpose of this Cost Management Plan is to summarize how the project costs for the
High Marks Silver Anniversary Celebration are planned, structured, monitored, and controlled. It
also describes the resource requirements and tools and techniques that are used in the cost
management processes. The document establishes the following: 1) Units of measure, 2) Level
of precision and accuracy, 3) Organizational procedures links, 4) Control thresholds, 5) Rules of
performance measurement, and 6) Reporting formats and additional details. The outcome of the
project is to celebrate the silver anniversary of the firm, unveil High Marks’ strategic vision,
strengthen the corporate culture, and improve employee morale using the measurable objectives
defined in the charter.
1) Units of Measure
The following units of measure were used to estimate resources.
Currency: $USD
Venue Per hour
Catering Per person
Labor Per person per hour
Airfare Per person
Lodging Per person per night
Meals & incidentals Per person per day
Audio-Visual equipment Per hour
Guest Speaker Per engagement
Anniversary mementos Per person
Door Prizes Per item
Figure 1. Units of Measure
2) Level of Precision and Accuracy
Based on the scope of the activities and scale of this project, cost estimates will be
rounded up to the nearest whole one (1) dollar in US$. The estimated costs are expected to be
within ±30% of the final cost.

3) Organizational Procedures Links
The following chart shows the control accounts (CA) used in High Marks’ accounting
system relevant to this project. These control accounts are linked to the work breakdown
structure (WBS) of the project in order to ensure consistency with the estimates, budgets, and
monitor and control of costs. The project team will use these codes properly in accordance with
the firm’s accounting system.
Figure 2. Control Accounts
4) Control Thresholds
Cost variations up to 10% can be accommodated with the project manager’s approval but
must be reported. Figure 3 shows the approval matrix that the project needs to follow for cost
variances over ±10%.
1

Budget Variance Approved By
10.1% - 20% Approved by Project Manager
More than 20% Approved by Project Sponsor
Figure 3. Control Thresholds
5) Rules of Performance Measurement
In measuring the performance of this project, we will employ earned value management
(EVM) technique. For internal labor control accounts, 20% is credited at the beginning of the
work. The remaining 80% is credited when the work is completed. A large percentage of
services (such as travel, accommodation, venues, and catering) are delivered the final four days
of the event. Using a 20/80% or 0/100% earned value approach would not provide cost control
information in time for corrective action. For other non-internal labor accounts, which include
material and services, 50% is credited when a contract is placed for the material or service. The
remaining 50% is earned when the material or service is delivered. The below chart defines the
points in the WBS where measurement of control accounts will be performed.
WB
S Summary Task Control Account Earned Value Rule
1.2.3 Project reviews Internal Labor 20/80
1.3 Project Execution Internal Labor 20/80
1.4 Project Close Internal Labor 20/80
2 Travel Coordination T & E (Travel & Entertainment) 50/50
2.2 Flight Arrangements T & E (Travel & Entertainment) 50/50
2.3 Local Transportation T & E (Travel & Entertainment) 50/50
2.4 Accommodation Arrangements Lodging 50/50
3.2 Venue planning Conferences and Meetings 50/50
3.3 Catering planning Conferences and Meetings 50/50
4.1.3 Coordinate reception Internal Labor 20/80
4.2 Celebration Management Internal Labor 20/80
4.3.1 High Marks speakers Internal Labor 20/80
4.3.2 Guest speaker External Labor 50/50
4.4 Audio-visual equipment Equipment Rental 50/50
4.6 Mementos & Door Prizes Employee Incentives 50/50
4.7 Celebration Day-of-Event Activities Internal Labor 20/80
5 Post-Event Activities Internal Labor 20/80
5.3 Receipt processing Internal Labor 20/80
5.4 Assess event benefits Internal Labor 20/80
2

Figure 4. Performance Rules by Control Account
Labor costs will be tracked using work hours from High Marks timekeeping system and
labor rates from the financial system. Material and service obligations will be tracked by contract
value. The Program Manager will produce cost performance reports by the 7th day of each month
after project start showing the cost performance index (CPI) and schedule performance index
(SPI) for each Level 1 of the WBS, as well as for the project as a whole. Estimate at completion
(EAC) will be calculated as the quotient of budget at completion (BAC) and the CPI. That is,
EAC = BAC/CPI. This will be used as a validity check on the bottoms-up EAC.
As risks are identified, potential cost impacts are identified as liens or credits and held
against contingency. Liens and credits are tracked separately in the cost estimate. If the risk
response is approved, or the risk is realized, then the impact to the cost estimate is processed
through a Change Request Form and the lien or credit is moved into the impacted control
account and no longer tracked separately.
6) Reporting Formats
Earned Value Analysis Reports are prepared by the 7th of each month and reviewed with
the team at the second project team meeting of each month. A sample format of the earned value
report is provided below. Any cost variances must be reported on the Cost Variance Action Plan
shown below, specifying any corrective actions that are carried out. As defined earlier in the
Control Threshold section, cost variances over +/-10% will require corrective action plan from
the Project Manager. These corrective actions will require a Change Request Form submission
and must be approved by the Project Sponsor before it can become within the project scope.
Change Requests resulting from cost overruns will be monitored and tracked in the Project Status
Report and discussed at the review meeting. A monthly status package, including all reports,
will be delivered to the Project Sponsor by the third Friday of each month.
3

Silver Anniversary Celebration Project High Marks
Earned Value Analysis Report
Prepared By: Robin Adams
Date:
[42]
For Period:
Summary:
Planned Value (PV) or Budgeted Cost of Work Scheduled (BCWS)
WBS Task Name TBC Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1 Project Management Activities 37690.1 6969 276 0 0 0 0 29939 506
2 Travel Coordination 183526 0 1380 181939 207 0 0 0 0
3 Venues & Catering Coordination 18768 0 1104 9752 7912 0 0 0 0
4 Celebration Coordination 89313 0 0 0 19835 28497 196 40786 0
5 Post-Event Activities 46714.2 0 0 0 0 0 0 46306 408
0
0
0
0
0
0
0
Insert new rows above this one
Total Budgeted Cost 376011 6969 2760 191691.2 27953.63 28497 195.5 117030.8 914.25 0 0 0 0
Cumulative Planned Value (PV) 6969 9729 201420.2 229373.8 257870.8 258066.3 375097.2 376011.4 376011.4 376011.4 376011.4 376011.4
Actual Cost and Earned Value
Cumulative Actual Cost (AC) 6900 8500 181000
Cumulative Earned Value (EV) 6850 9700 95000
Project Performance Metrics
Cost Variance (CV = EV - AC) -50 1200 -86000 - - - - - - - - -
Schedule Variance (SV = EV - PV) -119 -29 -106420 - - - - - - - - -
Cost Performance Index (CPI = EV/AC) 0.99 1.14 0.52 - - - - - - - - -
Schedule Performance Index (SPI = EV/PV) 0.98 1.00 0.47 - - - - - - - - -
Estimated Cost at Completion (EAC) 378756 329495 716401 - - - - - - - - -
2/7/2021
January, 2021
Sample Data at Project Level
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Period
Planned Value (PV)
Earned Value (EV)
Actual Cost (AC)
Figure 5. Earned Value Analysis Report
Figure 6. Cost Variance Action Plan Form
4

Figure 7. Change Request Form
5

Figure 8. Project Status Report
Additionally, we will use reporting tools in MS Project to monitor the progress of the
project. The reports will include but not limited to 1) Milestone Report, 2) Cost Overruns Report
showing variance per task as well as resource, and 3) Project Overview Report to review the
overall progress of the report. These reports will be reviewed by the stakeholders at the bi-
weekly review meeting.
6

Figure 9. Milestone Report
7

Figure 10. Project Overview
8

Figure 11. Cost Overruns
7) Additional Details
A repository for Lessons Learned will be developed as part of Project Close. Monthly
status packages will comprise the bulk of the Lessons Learned. Also included will be a record of
employee experiences and survey results from the employee satisfaction survey. These survey
results along with notable lessons learned from this project will be briefed to the sponsor and
archived.
Also, this project will follow High Marks’ standard project cost recording. All expense
transactions related to the project are recorded in a general ledger, forming the basis for
management reports on this project as part of the financial statements for the entire firm.
Components of financial accounting system relevant to this project include accounts payable and
job cost ledgers. Bills received from vendors such as the venue and caterer are recorded in the
9

accounts payable module as are the checks issued for payment. Job cost module summarizes the
charges associated with projects. The project ID, EMGT5430-T1, is recorded in the job cost
module. The designated accounting and finance staff can analyze the cost for this project by
various accounts used in the firm’s system.
Cost Estimate
Analogous technique was used to estimate the cost based on the nature of this project.
High Marks has previously held a holiday celebration, and similar cost for the venue and catering
was used as the basis for estimation. Costs for traveling, lodging, and meals were also estimated
based on the latest historical data of business trip expenses incurred at corresponding offices
during their visit to the headquarter. The below is the project Cost Estimate showing applicable
WBS items, hours, fixed cost, WBS Level 1 Total, % of total, and Management Reserves.
Management Reserves of 15% are not part of Cost Baseline but added to the Total Cost as shown
at the bottom. Contingency Reserves of 15% are included in Cost Baseline starting at the
beginning of the project and identified in the List of Potential Risk Responses in the Risk
Management Plan section as well.
Liens and credits are listed in the cost estimate in the WBS where they are expected to
occur. However, the cost impacts are not included in the WBS cost until the change is approved
via the change request process. Rather the sum of the liens and credits is listed at the bottom of
the cost estimate, along with expected impact on contingency.
10

High Marks Silver Anniversary Celebration Project Cost Estimate
WBS Task Name Resource # Hrs. Fixed Cost Cost WBS Level 1
Totals
% of
Total
1 Project Management Activities 33 hrs $ 33,774 $ 33,774 8%
1.1 Project Initiation 4 hrs $ - $ 460
1.1.3 Form project team Adams 1 hr $ - $ 85
1.1.4 Develop project charter Fuller, Adams 2 hrs $ - $ 185
1.1.5 Project kick-off meeting Fuller, Team 1 hr $ - $ 190
1.2 Project Planning 24 hrs $ - $ 5,840
1.2.1 Develop project plan Team 20 hrs $ - $ 5,600
1.2.2 Identify attendees Arbo 4 hrs $ - $ 240
1.3 Project Execution 0 hrs $ - $ 27,034
1.3.2 Host reception All 0 hrs $ 8,250 $ 8,250
1.3.3 Day of Rest 0 hrs $ 5,928 $ 5,928
1.3.4 Host celebration All 0 hrs $ 12,856 $ 12,856
Risk 3 lien if events are postponed $ 17,700
Risk 5 credit if no-cost guest speaker is utilized $ 1,000
1.4 Project Close 5 hrs $ - $ 440
1.4.1 Develop lessons learned Adams 1 hr $ - $ 85
1.4.2 Brief lessons learned to sponsor Adams, Fuller 2 hrs $ - $ 185
1.4.3 Archive lessons learned Adams 2 hrs $ - $ 170
2 Travel Coordination 39 hrs $ - $ 159,588 $ 159,588 37%
2.1 Travel Management 4 hrs $ - $ 240
2.1.1 Finalize travel budget Arbo 4 hrs $ - $ 240
2.2 Flight Arrangements 18 hrs $ - $ 118,080
2.2.1 Research flights Arbo 8 hrs $ - $ 480
1

High Marks Silver Anniversary Celebration Project Cost Estimate
WBS Task Name Resource # Hrs. Fixed Cost Cost WBS Level 1
Totals
% of
Total
2.2.2 Develop flight plan Arbo 4 hrs $ - $ 240
2.2.4 Reserve flights Arbo 4 hrs $ 117,000 $ 117,240
2.2.5 Notify travelers of travel plans Arbo 2 hrs $ - $ 120
2.3 Local Transportation 3 hrs $ - $ 180
2.3.1 Local Transportation Planning Arbo 2 hrs $ - $ 120
2.3.2 Develop local transportation communication Arbo 1 hr $ - $ 60
2.4 Accommodation Arrangements 14 hrs $ - $ 41,088
2.4.1 Research accommodations Arbo 8 hrs $ - $ 480
2.4.2 Develop accommodation plan Arbo 4 hrs $ - $ 240
2.4.4 Reserve accommodations Arbo 2 hrs $ 40,248 $ 40,368
Risk 2 lien for additional travelers $ 13,000
3 Venues & Catering Coordination 36 hrs $ - $ 16,320 $ 16,320 4%
3.1 Venue & Catering Management 8 hrs $ - $ 480
3.1.1 Develop venue & catering budget Lampkin 8 hrs $ - $ 480
3.2 Venue planning 16 hrs $ - $ 8,960
3.2.1 Research venues Lampkin 8 hrs $ - $ 480
3.2.2 Venue selection approval Lampkin 4 hrs $ - $ 240
3.2.3 Reserve venues Lampkin 4 hrs $ 8,000 $ 8,240
3.3 Catering planning 12 hrs $ - $ 6,880
3.3.1 Research caterers Lampkin 8 hrs $ - $ 480
3.3.3 Reserve catering Lampkin 4 hrs $ 6,160 $ 6,400
4 Celebration Coordination 127.03 hrs $ - $ 77,663 $ 77,663 18%
4.1 Reception Coordination 5.53 hrs $ - $ 1,953
2

High Marks Silver Anniversary Celebration Project Cost Estimate
WBS Task Name Resource # Hrs. Fixed Cost Cost WBS Level 1
Totals
% of
Total
4.1.1 Travelers arrive Travelers 0 hrs $ 1,482 $ 1,482
4.1.2 Reception planning Adams 2 hrs $ - $ 170
4.1.3 Coordinate reception 3.53 hrs $ - $ 301
4.1.3.
1 Welcoming remarks Fuller 0.03 hrs $ - $ 3
4.1.3.
2 Ensure attendee satisfaction Adams 2 hrs $ - $ 170
4.1.3.
3 Recognition of service Adams 1 hr $ - $ 85
4.1.3.
4 Closing remarks Adams 0.5 hrs $ - $ 43
4.2 Celebration Management 40 hrs $ - $ 11,200
4.2.1 Celebration planning Team 40 hrs $ - $ 11,200
4.3 Speakers 34.5 hrs $ - $ 11,183
4.3.1 High Marks speakers 33 hrs $ - $ 11,055
4.3.1.
1 Notify speakers Adams 1 hr $ - $ 85
4.3.1.
2 Speakers prepare content Directors 10 hrs $ - $ 3,600
4.3.1.
3 Speakers develop presentations Directors 20 hrs $ - $ 7,200
4.3.1.
4 Build master presentation Adams 2 hrs $ - $ 170
4.3.2 Guest speaker 1.5 hrs $ - $ 128
3

High Marks Silver Anniversary Celebration Project Cost Estimate
WBS Task Name Resource # Hrs. Fixed Cost Cost WBS Level 1
Totals
% of
Total
4.3.2.
1 Identify guest speaker Adams 1 hr $ - $ 85
4.3.2.
3 Invite guest speaker Adams 0.5 hrs $ - $ 43
4.4 Audio-visual equipment 4 hrs $ - $ 300
4.4.1 Audio visual equipment planning Hernandez 4 hrs $ - $ 300
4.5 Event facilitation planning 19 hrs $ - $ 1,165
4.5.1 Attendee check-in planning Adams 1 hr $ - $ 85
4.5.2 Icebreaker session planning Arbo 2 hrs $ - $ 120
4.5.3 High Marks trivia game planning Arbo 4 hrs $ - $ 240
4.5.4 Strategic planning brainstorming planning Lampkin 4 hrs $ - $ 240
4.5.5 Door prize giveaway planning Lampkin 8 hrs $ - $ 480
4.6 Mementos & Door Prizes 16 hrs $ - $ 18,180
4.6.1 Memento & door prize selection Adams 2 hrs $ - $ 170
4.6.3 Order mementos Adams 2 hrs $ - $ 170
4.6.4 Memento order processing & shipping Supplier 8 hrs $ 16,500 $ 16,500
Risk 1 lien to ship mementos to no-shows $ 1,000
Risk 4 lien to ship mementos directly to Divisons $ 1,000
Risk 6 credit if mementos are wrapped in-house $ 400
4.6.6 Purchase door prizes Adams 4 hrs $ 1,000 $ 1,340
4.7 Celebration Day-of-Event Activities 8 hrs $ - $ 33,683
4.7.1 Check-in attendees and distribute mementos Team 1.28 hrs $ - $ 358
4.7.2 Assist with audio-visual equipment All 1.28 hrs $ 800 $ 6,995
4

High Marks Silver Anniversary Celebration Project Cost Estimate
WBS Task Name Resource # Hrs. Fixed Cost Cost WBS Level 1
Totals
% of
Total
4.7.3 Give away door prizes All 1.36 hrs $ - $ 6,582
4.7.4 Facilitate Icebreaker All 1.36 hrs $ - $ 6,582
4.7.5 Facilitate trivia game All 1.36 hrs $ - $ 6,582
4.7.6 Facilitate brainstorming session All 1.36 hrs $ - $ 6,582
5 Post-Event Activities 72 hrs $ - $ 40,621 $ 40,621 10%
5.1 Travelers return Travelers 8 hrs $ 4,446 $ 38,766
5.2 Preserve brainstorming output 8 hrs $ - $ 480
5.2.2 Compile master list of strategic planning ideas Lampkin 8 hrs $ - $ 480
5.3 Receipt processing 42 hrs $ - $ 170
5.3.2 Review receipts for accuracy Adams 2 hrs $ - $ 170
5.4 Assess event benefits 14 hrs $ - $ 1,205
5.4.1 Annual employee survey Adams 8 hrs $ - $ 680
5.4.2 Assess survey results Adams 4 hrs $ - $ 340
5.4.3 Report survey results Adams, Fuller 2 hrs $ - $ 185
Total Planned Cost $ 327,966 77%
Project Contingency (15% of Planned Total Cost) $ 49,195 12%
Total Current Liens/Credits $ 31,300
Remaining Contingency $ 17,895
Management Reserves (15% of Planned Total Cost) $ 49,195 12%
TOTAL PROJECT COST ESTIMATE $ 426,056 100%
5

High Marks Silver Anniversary Celebration Project Cost Estimate
WBS Task Name Resource # Hrs. Fixed Cost Cost WBS Level 1
Totals
% of
Total
Figure 12. Cost Estimate
6

Cost Baseline
Figure 13 shows the Cost Baseline by WBS level 1 by month as the time-based project
budget. The weekly view is shown in the S-Curve section due to the length of the project.
Contingency Reserves of 15% are included in the Cost Baseline and identified separately in this
chart as a reference. Total Cost Baseline of $377,161 is Total Planned Cost $327,966 + Project
Contingency $49,195. Management Reserves of 15% are not part of this Cost Baseline chart but
in the total cost.
Figure 13. Cost Baseline
Cost S-Curve
Figure 14 was developed using MS Project and displays the S-Curve based on the
Cost Baseline. Prorated distribution per month was used in this case.
Figure 14. Cost S-Curve
1

9) Stakeholder Management
● Manage stakeholders engagements
● Project management plan updates
● Project management documentation update
● Organizational process assets updates
● Last minutes modifications to plan
● Adding new team members
10) Communication Plan
11) Risk Management Plan
1) Risk Strategy
The High Marks Silver Anniversary Celebration is an opportunity for the company to
celebrate its past and to roll out its plans for the future. It is also intended to strengthen
relationships across the company, build employee morale and reinforce the company culture. To
ensure these goals are met, this project will employ a sound risk management process to
anticipate risks and manage the risks according to a proven process, shown in Figure 1. Within
this process, risks are considered either positive or negative events that may impact or enhance
project objectives.
Figure 15. Risk management process
2

This plan is the result of risk management planning. It documents the processes, tools and
procedures that will be used to manage and control those events that could have a negative
impact on the High Marks Silver Anniversary Celebration. It is the controlling document for
managing and controlling all project risks. In the context of this plan, project risk means risk to
one of the project baselines (performance, cost, or schedule) and should not be confused with
health and safety risks.
2) Methodology
Risk Identification
Risks are identified by drafting a risk statement in an If-Then format. The general format
is: If some event occurs, then then some project objective will be impacted. A portion of each
project team meeting will be dedicated to identifying new risks through brainstorming. As part of
data gathering, the team may interview people with similar project experiences. Initially, the
person that identifies a risk will be named as the risk owner. Risks shall be identified by an
examination of the project’s objectives relative to the sources of risk. Figure 2 shows the
project’s primary objectives. Figure 3 shows a list of possible risk sources.
90% of High Marks’ employees will attend the Silver Anniversary events.
Employees will demonstrate an understanding of the strategic direction of High Marks by 100%
participation of all attendees in a strategic planning exercise.
Employees will establish relationships with cohorts in other geographic districts by
intermingling at Silver Anniversary functions.
Employees will have increased morale following the Silver Anniversary events, shown on the
Annual Employee Satisfaction Survey.
Figure 16. Project primary objectives
Inadequate facilities and infrastructure Inadequate information technology
Delayed contracting with suppliers Ineffective communication with stakeholders
3

Unrealistic schedule estimates Unrealistic cost estimates or budget allocation
Uncertain or inadequate supplier capability Project approval delays
Poorly defined requirements Inadequate configuration management
Additional resource requirements Penalties for late changes to plans
Figure 17. Possible risk sources
Risk Analysis
Risks shall be analysed for determination of likelihood of occurrence and significance of
consequence. The risk assessment steps are as follows:
1. Evaluate the background information that forms the basis of the analysis and reduces the
uncertainty regarding the potential risk.
2. Identify significant consequences to the project performance criteria that may result from the
risk event.
3. Assess likelihood and consequence of the risk.
4. Determine the risk severity as red, yellow, or green.
5. Prioritize risks based upon their likelihood and consequence.
The following page will be available for team members to assist in risk analysis. Risk
consequence is scored in terms of impact or enhancement to performance, cost, and schedule.
The maximum value of these consequence scores is used to determine risk severity.
4

The following ordinal scales are used to assess the likelihood and consequence of a risk.
Likelihood Opportunity Consequence Threat Consequence
Scor
e Prob. Score Performance Cost Schedule Performance Cost Schedule
1 10% 1 No impact on
objectives
Negligible
reduction to
Level 1
WBS cost
Negligible
reduction to
project
schedule
No impact on
objectives
Negligible
impact to
Level 1
WBS cost
Negligible
impact to
project
schedule
2 25% 2
Significant
enhancement
to a single
objective
5%
reduction to
Level 1
WBS cost
Project
scheduled
improved by
1 day
Significant
impact to a
single
objective
5% impact
to Level 1
WBS cost
Project
scheduled
delayed by 1
day
3 50% 3
Significant
enhancement
to multiple
objectives
10%
reduction to
Level 1
WBS cost
Project
scheduled
improved by
1 week
Significant
impact to
multiple
objectives
10% impact
to Level 1
WBS cost
Project
scheduled
delayed by 1
week
4 75% 4
Additional
objective
approved
15%
reduction to
Level 1
WBS cost
Project
scheduled
improved by
2 weeks
Failure to
meet a single
objective
15% impact
to Level 1
WBS cost
Project
scheduled
delayed by 2
weeks
5 90% 5
Multiple
additional
objectives
approved
20%
reduction to
Level 1
WBS cost
Significant
work
avoided
entirely
Failure to
meet multiple
objectives
20% impact
to Level 1
WBS cost
Celebration
events
cannot occur
as schedule
Figure 18. Ordinal scales for assessing risk likelihood and consequence
The following 5x5 risk severity matrix is used to assess risk severity, given the ordinal
scores for likelihood and consequence.
Opportunity Consequence
Likelihood
Threat Consequence
5 4 3 2 1 1 2 3 4 5
1
2
3
4
5

5
Figure 19. Risk severity matrix
Risk Response Planning
Risks shall be reviewed for performance impacts and the risk owner recommends a plan
of action to management. This plan of action is referred to as the risk response. A risk owner is
designated to manage the execution of the risk response.
The recommended risk response will consist of one of the following:
a) When a decision is made to accept a risk, the risk manager shall ensure that each acceptance
is clearly documented in the risk database. Accepted risks are periodically reviewed to ensure
that acceptance rationales are still applicable and that controls are still in place. Typically,
only low risks are accepted. Acceptance of a high severity (red) risk requires approval of the
Project Sponsor.
b) When a decision is made to mitigate a threat or exploit an opportunity, the risk manager shall
ensure that a risk response plan is developed and documented in the risk database, including
the cost and schedule impact of the risk response.
c) When a decision is made to watch a risk, the project manager shall ensure that tracking
requirements are developed and documented in the risk database. Typically, watched risks
have low consequence.
d) When the risk owner does not have the wherewithal to manage a risk, the project may
transfer the threat to, or share the opportunity with, another party, internal or external to the
project team, that is better equipped to manage the risk.
e) If the risk is outside the span of control of the project team, the team may escalate the risk to
the Project Sponsor. The Project Sponsor will then determine the appropriate course of
action.
6

Risk Monitoring and Control
Risks shall be updated by the risk owner prior to the weekly team meeting. At team
meetings, the project team will review all open risks. The risk environment will be monitored by
the project manager reporting the number of open risks by risk severity, using the report format
in Figure 6. Specific risks will be monitored by the risk owner who reports the status of risk
responses using the template in Figure 7.
Opportunity Consequence
Likelihood Threat Consequence
5 4 3 2 1 1 2 3 4 5
5
7 4 3
3
6 2 4 1
, 2 5
1
Risk 6: Gift Wrap In-house
Risk 7: No-Cost Guest Speaker
Risk 1: Lack of Interest
Risk 2: Insufficient Funding
Risk 3: COVID Impacts
Risk 4: Memento Delay
Risk 5: No Guest Speaker
Figure 20. Risk environment reporting format
7

Figure 21. Risk response reporting template
Given the status of the risk response, the risk owner chooses one of the following control
options:
a) Continue as planned – Status indicates progress is as expected.
b) Re-plan the response – Status indicates a mid-course correction is required.
c) Invoke a contingency plan – Status indicates the current plan is inadequate.
d) Close the risk – Status indicates risk will no longer be actively mitigated or monitored.
e) Accept the risk – Status indicates risk response is not justified to eliminate or reduce the risk.
3) Roles and Responsibilities
Risk management roles and responsibilities are defined in the following figure.
Role Responsibilities
Project Manager Maintaining the Risk Management Plan
Maintaining the Risk Management Data Base and distributing
updates
8

Briefing the team on the status of risks
Tracking efforts to reduce moderate and high risk to acceptable
levels
Providing risk management training
Facilitating risk assessments
Preparing risk briefings, reports, and documents required for Project
Reviews
Project Team Actively participate in the risk identification process
Perform risk analysis
Develop and implement risk responses for assigned risks
Discuss risk monitoring and control activities at team meetings
Project Sponsor Approve acceptance of high severity risks
Participate in risk escalation process
Approve the use of management reserves
Figure 22. Risk management roles and responsibilities
9

4) Funding
To accommodate funds required to perform activities related to potential risk responses,
we have allocated 15% of project cost as contingency reserves. These funds will be utilized to
resolve identified risks effectively. The Project Manager holds the full authority to make use of
the Contingency Reserve at the time the risk(s) is/are materialized. The project also secured
additional 15% of project cost as management reserves. The management reserves are added to
the overall cost of the project and will be used to accommodate any unknown risks that cannot be
forecasted. The management reserves are controlled by the Project Sponsor, who is a member of
the Senior Management, and not the Project Manager. As a protocol, prior approval by the
Sponsor must be sought before utilizing the management reserves on the project.
As risks are identified, potential cost impacts are identified as liens or credits and held
against contingency. Liens and credits are tracked separately in the cost estimate. If the risk
response is approved, or the risk is realized, then the impact to the budget is processed through a
Change Request Form and the lien or credit is moved into the impacted control account and no
longer tracked separately.
5) Timing
Risk will be managed throughout the project lifecycle. Risk management is a standing
topic on weekly team meeting agendas. Risks are logged in the risk database as they are
identified. A risk is considered short term if the project is impacted by the risk for 10 days and it
is considered long term if the impact is beyond 10 days. The risk owner adds response
information when it is available. Other than the activity at weekly team meetings, risk
management is integrated into the daily activities of High Marks employees.
10

6) Risk Categories
The sources of risk listed previously in Figure 3 can be categorized according to the risk
breakdown structure shown in the following figure.
RBS LEVEL 0 RBS LEVEL 1 RBS LEVEL 2
All sources of project risk
1.Performance Risk
1.1 Inadequate facilities and infrastructure
1.2 Uncertain or inadequate supplier capability
1.3 Poorly defined requirements
1.4 Inadequate information technology
1.5 Ineffective communication with stakeholders
1.6 Inadequate configuration management
2. Schedule Risk
2.1 Project approval delays
2.2 Unrealistic schedule estimates
2.3 Delayed contracting with suppliers
3. Cost risk
3.1 Unrealistic cost estimates or budget allocation
3.2 Additional resource requirements
3.3 Penalties for late changes to plans
Figure 23. Risk breakdown structure
7) Stakeholder Risk Appetite
The primary stakeholder is the Project Sponsor. The Project Sponsor understands that
moderate levels of risk to a project with this scope are understandable. However, high severity
threats are not expected. At project reviews, the Project Sponsor will be provided the status of
all open, high severity (red) threats. If three or more high severity threats are identified and
cannot be mitigated, then the project will undergo a cancellation review.
Risk Register
The below risk register includes the following. 1) list of identified risks, 2) potential risk
owners, and 3) list of potential risk responses. The risk register is used to track risks. In the list of
potential risk responses, we identified the estimated cost of the potential risk responses that is
11

reflected in the project budget. These costs are included as contingency reserves and part of the
cost baseline discussed in the Cost Management Plan.
12

No.
Opp or Threat
Open or Closed
Risk Title Risk Statement
Likelihood (L) Consequence
(C)
L, C
Severity
Risk
Owner Risk Response Summary
Performance
Cost
Schedule
1 T O Lack of Interest If employees lack interest
as shown by low
attendance, High Marks
will not be able to share
the strategic vision,
improve the corporate
culture and boost morale.
2 3 0 0 2, 3 M Arbo • Arbo will include message of
support from High Marks CEO in
celebration invitation to encourage
attendees.
• All employee expenses covered in
budget to make event appealing.
• Event to be recorded for those who
cannot attend. Cost included in AV
budget.
• $1,000 lien placed on contingency
to fund shipping of mementos to
those who cannot attend.
2 T O Insufficient
Funding
If funding is insufficient
due to unanticipated
number of attendees or
underestimated event
costs, the project will
exceed budget constraints.
2 2 3 0 2, 3 L Adams • Project Manager will monitor and
track the budget closely utilizing
the Project Status Report and
provide explanations in the Cost
Variance Action Plan form.
• The Change Request Form will be
submitted to have the additional
budget approved.
• As a mitigation action, the project
team may consider less expensive
vendors for catering, mementos,
and door prizes.
• $13,000 lien placed on contingency
to accommodate up to 5 additional
employees.

No.
Opp or Threat
Open or Closed
Risk Title Risk Statement
Likelihood (L) Consequence
(C)
L, C
Severity
Risk
Owner Risk Response Summary
Performance
Cost
Schedule
3 T O COVID Impacts If COVID restrictions
continue, including
restrictions on travel,
meeting spaces, or
gathering, the meeting
will have to be conducted
virtually
4 5 0 0 4, 2 H Hernandez • Project Manager and the team will
monitor current travel restrictions
and guidelines.
• Refundable fares budgeted for
airlines and accommodations can be
cancelled within 24 hours of check-
in.
• $5,800 lien placed on contingency
for penalties on cancelling venues.
• $2,900 lien placed on contingency
to fund shipping of all mementos.
• $9.000 lien placed on contingency
due to inflation if event is
postponed
4 T O Memento Delay If there is a delay in
delivery of mementos,
there will an additional
expense to ship mementos
following the event.
3 1 0 3 3, 1 L Adams • Order mementos at least 4 weeks
prior to event.
• $1,000 lien placed on contingency
to cover express shipping for
mementos.
5 T C No Guest Speaker If the guest speaker is
unable to attend,
employee morale will be
impacted.
2 4 0 0 2, 4 M Adams • Project Sponsor agreed to deliver
inspiring message if guest speaker
is unavailable.
• $1000 credit to contingency
6 O O Gift Wrap In-house If memento vendor
charges for gift wrap, then
gift wrapping in-house
can reduce costs.
2 2 2, 2 L Adams • Ask vendor cost of gift wrapping.
• Determine cost of wrapping in-
house.
• Choose best value.
• $400 credit to contingency expected