Risk Analysis #2

	Risk analysis template - fill out for a specific risk
Project Name	Bathroom Remodel
Risk ID #	2
Responsible person	Time constraints not met
Risk identification date	[mm/dd/yy]
Condition	The project could extend into extra working days.
Trigger event	Finding contingencies along the way that take adjustments to fix
Consequence/Impact description	The project would extend for a longer time period costing more money and taking away vital time for the use of our facility.
Consequence/Impact value (quantify impact)	200.00
Probability (choose from 20, 40, 60, 80)	80.00%
Expected Value	160
Response Strategy	Stay up to date on outcomes and resolve issues effectively and promptly
Known Cost of Response	This will cost $25/hr for every hour of overtime spent on the project.
Contingency for Response	From the start the demolition phase will determine the amount of time to construct the bathroom.  The quicker we can get the old fixtures out and prep the area, the faster the project can get underway.
WBS Relationship (tasks associated with condition or response strategy)	I will get a head start with the demolition of the old fixtures, most likely the night before I will start some removal. Mark will arrive early in the day to help finish with the rest.