Risk Management Assignment Example | Topics and Well Written Essays - 750 words

Risk Management - Assignment congresswomanSFC developed a risk matrix of the possible risks likely to occur during the implementation of the project expand the mitigation cadencys.SFC currently has other projects that are not completed. If it wins the contract, the schedule of the other projects will be interfered. SFC cannot submit to to lose the contract for the City project because of the proceeds expected from its completion. Mitigation measure for the risk, SFC has decided to cover with the other clients and come up with a new realistic schedule to complete the homes. It will be beneficial to SFC to winning their customers trust and loyalty. The two employees present at SFC will not be enough to complete the current projects and that for Gig city. The employees will be strained making them inefficient in delivering flavor services to the client especially that for constructing tourism facilities. This will risk SFC in failing to win future day contracts from the Gig Harb or Council. SFC has identified hiring of new personnel will be the suitable mitigation measure for this risk. There is also a possibility of the prices complex body part materials to increase this is due to the booming construction business, hence high demand for the materials. An increase the cost of materials will have an adverse impact on the community since it was not budgeted for, during the planning stage. SFC identifies this risk as severe since it will not only affect the construction of tourism facility but other projects. The mitigation for this is to liaise with finance companies, who will step in during a financial crisis. SFC has a duty to protect its reputation for the City project and therefore trim down material requirement will result to a sub-standard work. If the completion of the construction of tourism facilities does not stick out deadline, then SFC management should make an effort to discuss with the Council prior the actual deadline. It will make the Cou ncil aware(predicate) and also gain trust from