Project Risk Management:construction of the Panama Canal

Construction of the Panama Canal

Project Risk Management:Construction of the Panama Canal

Project Risk Management

Table of contents

I. Title Page ...............................................................................1

II. Table of Contents......................................................................2

III. Introduction ............................................................................3

IV. Sources of construction project risk ................................................4

V. Systems to address construction project risk .......................................6

VI. Catastrophic failure fault tree .........................................................8

VII. Discussion of fault tree ................................................................9

VIII. Course Project Part I ..................................................................11

IX. Risk tables, charts, sheets ............................................................12

X. Conclusions ............................................................................16

XI. References..............................................................................18

When you use an 'and' gate it indicates that it take both of the conditions for the fault to occur. If either of the conditions could cause a problem this indicates the use of an 'or' gate.

You need to select specific faults to use in the tree. General examples of faults are too broad for the fault tree to provide a comprehensive evaluation of the possible causes.

The graphics for the tree do not have to be artist professional quality but they do need to be student professional. A table is not sufficient. If you use screen shots be sure you crop them so that only the tree is included not all the computer menus and etc.

You should have at least two options under each gate. There is no reason for a gate if there is only one option.

You should have a conclusion that should focus on the risk management process and use of fault trees. Some conclusions on the project results are ok.

There is at least one reference required.

Wikipedia is not considered an authoritative source for research papers and does not count. The material there can include errors as it is the opinions of the contributors and not validated.

Write a discussion of risks that supports the fault trees that have been created. Make a separate write up for each of these smaller risks (Review Chapter 27, pages 357-369 for risks and treatments). Your paper should have a general introduction that should introduce the two fault or event trees that will be discussed and then the paper should have a discussion regarding each fault or event tree. The discussion write up regarding the identified risks should be from 3-5 pages in length. Note that this page length is a guideline and if you find that your paper supporting the risk tree is longer, there will be no penalty as the final assignment will need to be from 15-20 pages in length.

Sample outline of typical course project paper part I

Title Page and Table of Contents

Introduction

Fault Tree One

Discussion of Fault Tree One

Fault Tree Two

Discussion of Fault Tree Two

Conclusions

Works cited

Course Project Part II

Building upon the first part of the course project, consider that you are an appointed contractor to construct your chosen project. At this time, you will need to address and explain the following:

1. Identify sources of risk, including any issues that may impede or impair the completion of the project (See Chapter 9, page 103, Review Chapter 10 for examples and lists of potential project risks). Limit your list to 5 important risks. A matrix is a good way to display these.

2. Given the sources of risk in the point above, offer details regarding the systems that the contractor should have in place in order to avoid the identified risks (See Chapter 9, page 103-104, Review Chapter 10 for examples and risk treatment options).

3. Create a single fault tree that will discuss the risks associated with the catastrophic failure of the project (either during construction or after completion). Create a write up for this type of failure and address how these risks can be avoided, mitigated or otherwise reduced. (Review Chapter 27 for listings of risks and treatments)

The paper could also include any other risk worksheets, tables, charts or diagrams that would support any of these concepts or ideas. Do not limit yourself to just what is in the text or course as there is a wealth of information regarding risk and risk treatment available in the library.

Additional comments:

You will need to build a complete risk management plan.

(Note you are building the risk management plan and not doing the entire project.)

Use the sample table of contents as a guide line as to what needs to be in the risk management plan. By now you should also be familiar with the components of a risk management plan from the lectures and discussions. The grading rubrics will also be a good resource when doing your paper.

Sample outline of typical course project paper part II

Sample outline of typical course project paper part II

Title Page

Table of

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