As a project manager, one should ensure that the quality of the final product is up to standard. This implies that the raw materials used should meet the required standard. The possibility of having substandard material for the project is a risk. This is because it has the potential to cause safety issues once the kitchen is completed. A balcony should be firm. The use of substandard metal for example is likely to affect the integrity of the balcony. This can pose a huge safety risk to workers and clients. Further, the use of materials of lower quality is likely to increase repair costs in the future. All these are potential risks to the project.
In this case, there is need for a risk management plan. The first step in this case would be to communicate to the other team members on this risk. This is necessary in order to prepare them for any change or mitigation process. This communication will also create room for brainstorming sessions on the issue. As a project manager, it is imperative to create a working environment which allows the team members to express their views. In this case, workers can comment on any changes they have seen on the materials since the change of management at supplies point. This information is necessary in the assessment of risk (Biafore & Stover, 2012) . Further, the project manager should assign a specific individual to this identified risk. This individual should conduct an independent analysis on the issue and provide constant feedback to the project manager. This will inform the ultimate decision on whether or not the rumors are grounded on concrete evidence. This being a high degree risk, the project manager should ensure that a solution is gotten in the shortest time possible (Hillson, 2012) .
Delegate your assignment to our experts and they will do the rest.
The availability of second hand commercial freezer and oven presents an opportunity to cut the cost of the project. This can be viewed as a positive risk. However, the quality and applicability of the second hand items should be able to meet the quality standards envisioned by the objectives of the project. In this case, the project manager should institute a risk assessment plan. This plan will involve assessing the quality of the said items and their state. this will require the opinion of an expert. Brainstorming on the issue is also a critical component of risk assessment and analysis. It will give the project manager an opportunity to hear the views of other team members (Raydugin, 2013) . Further, a project manager should also inform the owner of the project about the availability of the second hand items. All these enables the project manager to come up with a concrete decision on the issue. If the quality of the second hand items is compromised, the best option in this case would be to stick to new items. In this case, the new items will guarantee success of the project as envisioned by the objectives of the project. Once the use of the second hand items is approved, a change document is necessary. This is done as a proposal which details the change needed and the reasons for the change. In this case, the use of second hand items with comparable quality as new items will greatly reduce the cost of the project. All stakeholders must agree and sign the change document (Biafore & Stover, 2012) .
Company X want to build an industry in a foreign country. In terms of risks, the building should comply with the local rules and regulations of the country. A project manager in this case should identify litigation as a potential risk. The industry should comply to housing standards and should adhere to the safety standards already in place. Therefore, a project manager should conduct a research on the requirements of establishing an industry in the said country. This will help mitigate against future litigation.
References
Biafore, B., & Stover, T. (2012). Your Project Management Coach: Best Practices for Managing Projects in the Real World. New york: John Wiley & Sons.
Hillson, D. (2012). Managing Risk in Projects. New york: Gower Publishing, Ltd.
Raydugin, Y. (2013). Project Risk Management: Essential Methods for Project Teams and Decision Makers. New york: John Wiley & Sons.
