Risk Management Plan: Royale Pizza Renovation Project (MGT5PMT)

This project management assignment focuses on the risk assessment for the renovation of Royale Pizza, a gourmet pizza shop. The assignment includes a risk register identifying potential risks such as schedule slippage, improper safety inspections, supply chain issues, budget shortfalls, poor management, and inexperienced team members. Each risk is evaluated based on its probability and impact, with a corresponding score and a proposed response plan or mitigation strategy. The project also requires the creation of a project schedule, resource allocation plan, and a budget, along with discussions on the methods, tools, and techniques used in project management. The assessment emphasizes the application of project management principles and the selection of appropriate tools and techniques for the project's successful completion. The student is required to identify areas where more information might be needed and to prepare the relevant project documentation based on the provided case study.

Risk Register
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Risk ID Risk Statement Probability Impact Score Response plan/Strategy
1. Schedule slippage: If
the project managers
are unable to follow the
schedule of the project
while renovating the
pizza shop then the
schedule can be slipped
which can cause delay
in the project.
High High 4 The schedule should be
tracked on a regular basis
for avoiding slippage and
for accomplishing the
project work on the time
that is assumed at the
initial phase of the project.
2. Improper safety
inspection: While
renovation; if safety
inspection is not done
appropriately, then
there is high chance of
occurring safety issues.
High High 4 It is necessary to conduct
safety inspection every
fortnight so that any type of
security issue which can
occur can be avoided.
3. Improper supply of
materials: If the
materials that are
needed for renovation, if
Medium Medium 3 It is necessary to supply
materials on time for
avoiding slippage and delay
in the project.