Risk Management Plan: Royale Pizza Project (MGT5PMT)

This project assignment focuses on developing a risk register for the Royale Pizza case study, addressing potential risks associated with the project. The risk register identifies various risks, including improper installation, inexperienced technical managers, inappropriate inspections, improper budget estimation, and improper schedule tracking. Each risk is assessed based on its probability and impact, with corresponding scores and proposed response plans or strategies. The assignment also references the project scope statement, deliverables, acceptance criteria, exclusions, constraints, and assumptions. The schedule plan is to be prepared, identifying key milestones, resources, and their associated costs. The document emphasizes the application of appropriate project management theories, tools, and techniques rather than the accuracy of the budget, schedule, and resource estimations. This document is designed to help students understand how to identify, assess, and mitigate risks in project management, providing a practical application of risk management principles in a real-world case study.

Risk Register
Risk ID
Risk
Statement
Probability Impact Score
Response
plan/Strategy
1. Improper
installation:
Improper
installation of air
conditioning as
well as exhaust
system can create
a number of
operational issues
of shop.
High High 4 The installer who
is involved with the
project must have
proper skills o that
the installation
work gets
accomplished on
time.
2. Inexperienced
technical
manager: Due to
improper skills
Medium Medium 4 Hiring skilled and
experienced
technical managers
will be helpful in
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and experience,
the technical
engineer creates a
number of
problem that can
cause safety issue
of the workers.
avoiding the safety
related risks.
3. Inappropriate
inspection: If the
inspection during
the store
renovation is not
undertaken
properly then the
workers will
experience safety
problems.
High High 5 In order to avoid
such problem,
inspection must be
undertaken on a
daily basis. It
further helps the
workers to do their
work without any
type of obstruction.
4. Improper High High 5 The problem that is
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budget
estimation: The
expenditure that
is needed in the
project is not
properly
estimated then it
generally can
cause a lot of
financial issue
that further can
create obstruction
during the
progress of the
project.
linked with the
budget estimation
will get resolved by
estimating the
budget properly
before the kick-off
phase. In addition
to this, keeping
track on the
budget on regular
basis will avoid the
budget related
issue from the
project.
5. Improper
tracking of
schedule: The
High Medium 4 Tracking the
schedule daily for
making sure that
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project managers
who are engaged
with the project
are unable to
handle the
schedule properly
while executing
the project
activities then the
project can face
delay.
the project is on
the right track then
the entire project
gets finished on
time and therefore
the problem that is
associated with the
schedule can be
avoided.
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