Home Renovation Project - Project Management Report

This report presents a comprehensive analysis of a home renovation project, detailing key aspects of project management. The project focuses on renovating the interiors of a home, emphasizing the importance of planning, budgeting, and risk management. The report outlines the project's scope, anticipated outcomes, and the skills and techniques required for successful completion, including budget determination, project scope setting, research, and risk management strategies. It includes a detailed budget statement, a contingency fund estimate, and a risk matrix to identify and mitigate potential issues. The report also addresses unforeseen uncertainties, such as supply chain disruptions, and proposes solutions. The project's success hinges on proper contractor selection, contract formalization, cost control, timely project delivery, and health risk management. The report concludes with a bibliography of relevant sources.

Running head: HOME RENOVATION PROJECT
Home Renovation Project
Name of the Student
Name of the University
Author note

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Table of Contents
1. Project, Scope and Outcomes......................................................................................................2
1.1 Introduction to the Project and Reasons for Project Selection..............................................2
1.2 Skills and Techniques for Project Completion......................................................................2
1.3 Scope and anticipated Outcomes...........................................................................................3
2. Budgeting and Risk......................................................................................................................4
2.1 Budget Statement (Inclusion of all costs)..............................................................................4
2.2 Contingency Fund Estimate...................................................................................................5
2.3 Risk Matrix and Mitigation...................................................................................................5
3. The Unforeseen Uncertainty........................................................................................................7
Bibliography....................................................................................................................................9

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1. Project, Scope and Outcomes
1.1 Introduction to the Project and Reasons for Project Selection
Home modelling or renovation projects could be considered as extremely vital for home
makers and other people. The project is based on renovating the interiors of the home. In order to
design such a project, a dedicated form of planning would be highly required to design and
manage the entire project aspects.
The project has been selected based on the requirements of the project sponsor and the
approved budget for completion of the project. The consideration of each of the resources would
be highly required for progressing with the works over the project.
1.2 Skills and Techniques for Project Completion
The certain skills and techniques that would be required for the completion of the home
renovation project are:
1. Determination of Budget – With a set budget that have been provided by the project
sponsor, the budget planning should be planned accordingly. The project manager who would be
responsible for planning each of the aspects in relation with the project should consider the cost
of resources, pay for the people who would be performing the renovation work and additional
costs that might get incurred for the project. The total expenditure and limitation of the project
should also be taken into consideration.
2. Setting up a realistic project scope – After defining the budget plan for the project,
each of the aspects that need to be renovated within the home should be considered. The home
owner should detail out the task requirements to the project manager and the contractors. They
would then be responsible for deciding the bets factors that might be implemented within the
project. Many aspects such as renovating the cabinets or other items should be discussed
between the project manager, contractors and owners of the project.
The consideration of machines that would be required for renovating the kitchen should
also be arranged and figured out in a proper manner. The heavy stuff within the house would
need to be moved from one place to another with the help of such machines that would be highly
efficient. These items should be lifted with proper care by technicians such as not to incur any
form of damage to the items within the house.

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3. Performing deep research over activities – The project manager and other home
renovation designers should look into each of the intrinsic details within the project. There would
be many paintings, curtains, soft house decorative items, vases and other delicate items that
would need better care in handling them. The contractors would be responsible for sorting out
and preparing a list of such items.
The project manager would thus be responsible for sorting out a proper list of each of the
items. These items would be firstly removed and kept in a safe place such as no damage would
be caused to those items during the renovating works. The renovation designer who would be
taking the entire responsibility of performing work over the project should have sound
knowledge about each of the intrinsic details that need to be put as input within the project. They
should ensure that the owner would be highly satisfied by the quality of work.
4. Risk management – During the work of renovation, there might be several forms of
risks that might get incurred that might lead to stoppage of work. These risks could also hamper
the work progress, create unintentional budgetary issues and many others. A proper form of risk
management planning technique should be prepared in order to avoid such scenarios. The project
manager should properly collaborate with the contractor and renovation designer in order to
manage each of the risk scenarios. Such kind of techniques should be highly learnt prior to the
start of the work over the project. They should have necessary skills in order to bring the best
form of outcomes towards the benefit of the project.
1.3 Scope and anticipated Outcomes
Scope of the project – The project is based on renovation of a home by including each of
the necessary details that would be required for the completion of the project in proper time
frame and within appropriate budget. The project would proceed after a formal approval from the
house owner. The project would also be completed within the sponsored budget of the project
and timeline supported.
Anticipated Outcomes for the project – After the completion of the project, the
anticipated outcomes from the project are:
 A proper delivery of renovated home within the proper time and budget.

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 Each of the necessary requirements that have been outlined would be completed as per
the instructions supported.
 The risk management plan would be prepared by the project manager by understanding
and estimating the risk scenarios.
2. Budgeting and Risk
2.1 Budget Statement (Inclusion of all costs)
Initiation of the Project 100720
Designing of Package 63840
Installation of appliances 39520
Testing of different Equipment 18800
Clean-Up Phase 12160
Project Closure 14800
Total Cost for the project 249840
Total Cost for the project
(Figure 1: The Total Cost incurred for the Project)
(Source: Created by author)
The different costs that are incurred for the project includes the following:
1. Initiation of the project
2. Designing of Package
3. Installation of appliances
4. Testing of different Equipment
5. Clean-Up Phase
6. Project Closure
Each of the phases are extremely crucial for the proper completion of the project. The
project would initiate with a proper form of planning. The initiation of planning for the project
would incur plans such as choosing of the proper renovation maker, contractors who would be
primarily delivering the project. After a choice of the proper materials have been done, the

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project would incur the best form of benefits based on supporting of the project plan. The
renovation designer would contact the owner of the home who is providing funds to the project
sponsor in order to proceed with the project.
Each of the materials that would be procured for the project would be selected by the
owner based on the given recommendations by the renovation designer. The costs would be
approved by the project sponsor who would be responsible for conversing with the renovation
designer in order to procure the best materials required for performing the renovation designs of
the project.
2.2 Contingency Fund Estimate
Total Estimated Cost for the project $250,000
Total Actual Cost Incurred for the project $249,840
Remaining Money $160
Contingency $37,500
In order to estimate the contingency fund for the project, it can be calculated by finding
out the total estimated costs for the project. The actual cost incurred for the project would need to
be calculated. The remaining money could be calculated by subtracting the total actual money
from the total estimated costs for the project. The contingency amount could be calculated by
multiplying the total estimated costs with 0.15. The contingency required for the project is
$37,500.
2.3 Risk Matrix and Mitigation
The risks that might be incurred while performing the works over the project are
discussed as follows:
1. Selection of Proper Contractors and Home Renovation Experts – The owner of the
home should properly choose the best home renovation experts who would have certain years of
experience in performing such kind of projects. The license of such experts should be properly
checked prior to bringing them within the house to perform the work over the project. Without a
proper form of selection of workers, it might lead to some complications and worst delivery of
work over the project.

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2. Formalizing of the Renovation Contract – Another major risk with the project on
home renovation is the format of the contract. The homeowners who would be choosing the
proper contractor should ensure that the contractors should not renovate the house according to
their own template. Rather they should consult with the home owner for proper choosing of the
best kind of renovation work over the project.
3. Cost Overruns – During the work over the project, it might happen that the costs
incurred within the project might overrun the scheduled budget allocated for the project. In such
situations, the project manager might have to request the project sponsor for providing the
additional budget or they might have to stop the project thus leaving it in an incomplete manner.
Hence, in order to mitigate such kind of scenario, the project manager should ensure that each of
the resources that might be included would be acquired prior to the start of the project.
4. Delay in Providing Completed Project Output – While designing the renovation
work over the house, it might happen that there might be some form of delay in providing the
final output to the project. There might be some kind of delays in certain activities within the
schedule. Labour turnover or natural factors could lead to delay in completion of work over the
project. Due to delay in work over the renovation work, the project might not be handover to the
owner. This would lead to several form of disputes within the project. The home owner might get
dissatisfied with the contractors and thus might not assign them in future works over the project.
5. Health Risks – While performing the work over the project, the health of the workers
or contractors might get hampered. The dust extracted while performing the wooden works or
from other sources might lead to health related problems for the workers. Thus the workers
should be provided with health masks that would help them in protection from dusts and other
harmful effects. In order to conduct the renovation process in a smooth manner, each of the steps
that are performed within the project should be performed in a proper manner by taking all of the
necessary precautionary steps.
Number Risk Cell

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references
R1 Selection of Proper Contractors and Home
Renovation Experts
B1
R2 Formalizing of the Renovation Contract C3
R3 Cost Overruns D1
R4 Delay in Providing Completed Project Output B2
R5 Health Risks A4
Risk Identification D (Certain) C (Likely) B (Moderate) A (Unlikely)
5 (Fatal) R3 R1
4 (Major) R4
3 (Lost Time) R2
2 (Minor) R5
1 (Trivial)
3. The Unforeseen Uncertainty
The unforeseen uncertainty of incident that could arise over the project is that the main
supplier of goods for renovation might close down in an uncertain manner. This would lead to
critical problems in relation to procuring of items within the renovation project. Without the
procurement of items needed for the current project, it would lead to stoppage of renovation
services.
However, in order to eradicate this uncertain event, the project manager should request
the sponsor of the project to provide an additional time of 30 days. Within the next 30 days, the
shop would reopen certainly and thus the project would also continue. During this period, the
cost of the project would certainly increase by 10% as the owner would have to keep the project
manager, contractors and renovation designer under hold of the particular project. Otherwise
they might get involved with some other project. This option could be considered as reasonable

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as although the project would be delayed by 30 days but still the costs would stay under proper
control. The budget might get increased by 10% but it would be viable for the project owner.

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