For the project you selected in Module 1, develop a project risk register, in MS Excel. Use this risk register to identify risks for your project. These may be both threat (negative) and opportunity (positive) risks.
The Company I work for plans to expand its operations by merging the two 125-300 units into one unit in El Paso. The project will aim at boosting the production and supply capacity to between 250-600 units within the third single facility that will be based in downtown El Paso. The project will be completed by the fall of 2021.
The project will require human resources, financial resources, and capital resources. The project will be implemented in two phases; the first phase will see the purchase of capital equipment and installation of critical facilities, while the second phase will involve the recruitment and training of staff and the testing of the new facility in line with the distribution network needs. The project manager will supervise project activities while reporting directly to the board.
The projects have been proposed to start on the 1st of June in 2019 to the first of October in 2021. The project manager will manage the schedule and ensure all project activities are implemented on time. Phase I is expected to be complete within the first 18 months while Phase II is expected to be complete within the last ten months.
The project will cost a total of $5 million. $3.5 Million will finance construction and purchase and or lease of critical equipment while $1 million will go towards the second phase of the project which is the acquiring of the necessary human resources and setting up a distribution network. $0.5 million will be budgeted towards the initial marketing campaign to introduce the new facility to our target clients in the area of operation. The business is expected to break even within a year after the launch of operations.