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9. Risk Management Plan

9.1 Methodology

For the initial risk assessment, the project manager and the team havebrainstormed and collaborated in identifying all possible risks within the current

known elements of the project. These identified risks will be reviewed in the

presence of Dr. Lipsett and Roger Marchand as early as their schedules allow

the review.

To ensure that the risk environment is being assessed sufficiently, Dr. Lipsett

will act as the risk management expert. Other risk-related inquiries will also be

made to the laboratory equipment experts (Roger Marchand and his team).

The following risk management process (described in Figure #) will be

implemented throughout the duration of the project. If any changes are made to

the project plan during the execution phase of the project, a risk assessment will

be carried out to determine if any new risks are present.

Figure # - The Risk Management Process


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Doing Planned Reviews: Risk reviews will take place during weekly meetings to

discuss the current state of risks within the project.

Identification of Hazards: Throughout the project lifetime, new processes and

actions may be implemented that pose new risks which had not been identified

in earlier planning stages. During the planned reviews, these risks will be

identified. (See Section 9.1.1 for further details)

Risk Assessment/Analysis: A risk assessment/analysis will be carried out for

any new identified risks. (See Sections 9.1.2 to 9.1.4 for analyses)

Is the Risk Acceptable?: Risks are deemed acceptable only once they have

been rated using a risk matrix (see Sections 9.1.2.1 and 9.1.2.2). Low level

risks are acceptable, without any further management involvement. Mediumlevel risks are acceptable with certain conditions. These risks must be closely

monitored, and the project manager must be present to ensure the risk is kept

under control. High level risks are unacceptable and any actions producing

such risks will be halted immediately.

Manage the Residual Risk: Once a risk is determined to be acceptable, it must

be managed in the way that is most appropriate for that risk. Methods for

managing each risk will be discussed by the project manager, the team, and the

Dr. Lipsett. (See Section 9.1.4 for further details)

Can the Risk be Reduced?: Further controls, management systems, protective

features, etc. may be added to reduce risks to an acceptable level. (See Section

9.1.4 for further details)

Reduce the Risk: If the risk can be reduced, the necessary changes must be

implemented to decrease it (see Section 9.1.4). It is important to note that if a

change is made to reduce the risk present in a process or action, a full risk

analysis must be redone on the newly implemented process or action. This will

reveal possible new risks that may have been added to the project. (See

Sections 9.1.1 to 9.1.4)

Discontinue the Activity: If a risk has been identified as unacceptable, any

processes or actions that pose that risk will be stopped. This is important to

protect all people involved in the project, people of the community, personal and


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university assets, as well as the sustainability of Chrome Engineering as an

enterprise with favourable public opinion.

9.1.1 Risk Identification

9.1.1.1 Documentation Review

Risks have been identified by the project manager and the team by

first reviewing the following project documentation:

1) Activity cost estimates

2) Activity duration estimates

3) Scope baseline

4) Stakeholder register

5) Cost management plan6) Schedule management plan

7) Quality management plan

8) Project documents

9) Enterprise environmental factors

10) Organizational process assets

9.1.1.2 Tools & Techniques

Brainstorming: At weekly meetings, the team has undergone a

brainstorming session to assess the possibility of risks that wereoverlooked earlier in the project Planning Phase. As well, origins of

new risks have been considered as any changes to the project plan

have been made.

Interviewing: Aside from the project team members, Dr. Lipsett has

been interviewed on his perception of possible risks.

Checklist Analysis: A checklist for the duration of the Execution

Process has been created to ensure essential safety and risk

management processes are not overlooked. Refer to the Laboratory

Relocation Safety Checklist in Appendix 9.8.1.

9.1.1.3 Identified Risks


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All identified risks have been documented in the Risk Register. (See

Section 10). As any further risks become apparent, a full risk

analysis will be performed on each new risk, and the Risk Register

will be updated accordingly.

9.1.2 Qualitative Risk Analysis

9.1.2.1 Risk Probability & Impact Assessment

Each identified risk has been assessed for the potential effects on

schedule, cost, and scope by the project manager and the project

team. Incident probabilities have been documented through

brainstorming between the project manager and project team, as

well as through interviewing Dr. Lipsett (See the Risk Register in

Section 10).

9.1.2.2 Probability & Impact Matrix

A probability and impact matrix has been used to identify incident

impacts on project objectives (time, cost, and scope). The matrix

can be found in Appendix 9.8.2.

9.1.2.3 Risk Data Quality Assessment

Risk data will be reviewed on a weekly basis. The data collectedfrom individuals interviewed for their opinions on risk probabilities

have been carefully reviewed for consistency. Any variations larger

than 0.20 have been reassessed by the project manager, project

team and Dr. Lipsett to attain values whose variation is equal to or

less than 0.20 for a set of ratings describing a single risk.

9.1.2.4 Risk Categorization

All documented risks have been categorized by the sources of risk

and the area of the project affected. This methodology illustrates the

areas of the project that have the greatest exposure to uncertainty.

Related documentation can be found in Appendix 9.8.3.

9.1.3 Quantitative Risk Analysis


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Sean will complete

9.1.4 Risk Monitoring, Control and Response Planning

With respect to the Probability and Impact Matrix shown in Appendix 9.8.2,

and the Risk Register in Section 10, activities posing a risk rating between

8% and 17% will be closely monitored and controlled by the risk owner

during the activity to ensure safe completion. Emergency services offered

by the University of Alberta will be utilized in the event of an injurious or

facilities-related incident. There are no current activities with a risk rating of

18% or higher. If any risks arise with this rating, they will be avoided by

changing the method of execution.

During the weekly risk assessments, any new risks that are identified will be

added to the risk register.

9.2 Roles and Responsibilities

The Risk Owners consist of Dr. Lipsett, Roger Marchand, AICT and the

University of Alberta facilities. Any risk-related activities or processes relevant to

Dr. Lipsett or Roger Marchand will be supervised by them accordingly during

the time that the risk is present. If any incidents occur, these individuals are to

handle them according to the risk responses listed in the Risk Register. Any

incidents relevant to AICT or the University of Alberta facilities will be

documented and the corresponding departments will be contacted.

9.3 Budgeting

(Luke will supply this information)

9.4 Reporting Format and Content

In the event of an incident, the Accident / Incident Report Form is to be filled out

and returned to the Risk Owner. In the event that the risk was previously

unforeseen, and there is no Risk Owner dedicated to the incident, this

correspondence is to be given directly to Dr. Lipsett. This form can be found in

Appendix 9.8.4.

9.5 Risk Ownership


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All risks identified in the Risk Register have been assigned a Risk Owner. Any

actions, processes or events posing a risk to the project will be closely

monitored and dealt with accordingly by the Risk Owners in the event where the

risks are present. In the event that a risk was previously unforeseen, and there

is no Risk Owner dedicated to a risk, Dr. Lipsett will act as the designated Risk

Owner.

9.6 Risk Auditing

Upon the completion of the Execution Phase of the Laboratory Development

Project, the new laboratory set-up in Mec E 1-38 will be assessed a final time

for possible risks present within the new layout. Any new risks will be

documented in the Risk Register found in Section 10, and a risk analysis will be

carried out. (See Section 9.1)

9.7 Risk Management Plan Approval

The Risk Management Plan is to be approved by Dr. Lipsett and Roger

Marchand. Relevant documentation can be found in Appendix 9.8.5, and is to

be read, understood and signed by both individuals prior to the start of the

Execution Phase.

09 risk management plan

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