Risk Analysis

Projects, including carefully planned ones, can run into trouble. This project, no matter its planning, can encounter unexpected problems. Larson and Gray (2014) indicate that anything can happen to alter the outcome of project activities. A risk can either be a condition or an event. It is something that can or cannot occur, but if it does, it can force a project manager and his or her team to change the way they work on a project. This project is prone to four major categories of risks- technical, cost, financial, and schedule risks. A technical risk may arise if the contractor uses low quality materials to build the new facility. This risk can also arise if the organization purchases substandard equipment for the new facility. A technical risk can result in a low quality structure and reputational damage. The probability of experiencing this type of risk is low because the organization will hire experts in construction industry and source materials as well as equipment from reputable manufacturers.The cost risk may arise due to increases in price of construction materials and equipment. Such increase may result in budgetary variances and affect project schedule. The probability of this risk occurring is high due to the prevailing Covid-19 pandemic and dwindling economic performance. Financial risk can arise if the executive level managers decide not to provide enough resources for the project’s budget. Lack of adequate financial resources may lead to use of substandard construction materials and equipment for the new facility, which may damage the company’s reputation. The probability of this risk of occurring is very low because of management support for the project and the organization’s healthy financial status. Schedule risk may arise if team members quit or due to unavailability of resources. Schedule risks can also occur due to changes in weather conditions such as onset of snowstorm. These may increase project costs and unnecessary delays. The likelihood of schedule risk occurring is high because Waterloo Town is prone to adverse weather conditions such as snowstorms and tornados.

Struggling to find relevant content? Order a custom essay on
Risk Analysis
Let our experts save you the hassle
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Human Resources Management (HRM)
Thanks for your assistance.
Customer 452701, November 9th, 2022
Great paper!
Customer 452707, July 1st, 2022
Exploring Gender in Science, Technology, and Mathematics
Very good work
Customer 452769, July 2nd, 2022
Social Work and Human Services
Awesome, Work! Didn't have to add much to it. Thank You!
Customer 452587, September 7th, 2021
Social Work and Human Services
Excellent! Done earlier than needed and with more sources than needed! Great work!
Customer 452485, August 22nd, 2021
Great work! Thank so much!
Customer 452707, March 1st, 2022
Thank you!
Customer 452707, April 2nd, 2022
English 101
The paper was late. However, it was excellent quality.
Customer 452561, July 2nd, 2021
Eng 099
I recveived a B on this paper but I'm not sure why.
Customer 452775, June 18th, 2022
Customer 452813, July 5th, 2022
Social Work and Human Services
The paper is impressive. Very professional and per the instructions
Customer 452533, May 24th, 2021
Social Work and Human Services
Excellent Work!
Customer 452587, September 16th, 2021
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
error: Content is protected !!

Save More. Score Better. Use coupon code SPECIAL for a 15%discount