Investment and Portfolio Management at Woodvale Construction Limited - Assignment Example

This will provide a basis for the activities involved in the project. A proper analysis will provide an efficient project plan that provides well for, the work breakdown structure, methodology, work packages, and the estimated time required to complete the project at hand.

A risk plan for the whole project will also be designed and implemented for the foreseen risks that could hamper the successful delivery of the project. Unmitigated risks in the construction industry have cost significant loss of property and life. The financial loss can be in terms of delay and over expenditure. Some of the serious risks that must have a proper management plan include design changes, cost overrun, project process approval, safety, and the conditions of the sites among others.

Risk Plan

RISK FACTOR

RISK RANK

RISK CONTRIBUTORS

MITIGATION & CONTINGENCIES

Technology

Safety

Funding

Time/schedule

Quality Requirements

Number of Participants

Regulatory involvement

Disruption of Regular services

Other unspecified Risks

The occupants of the building will have to stay there during the construction and the execution of the project is designed to prevent disruption of supply. The normal drainage flow will be maintained.

Figure 1.0

The project will be divided into three major activities namely preparation, lifting, and reinforcing the building. The preparation will involve the following activities i.e. plans and permits, assembly of machines, cleaning of the soil, temporal removal of ducts, removal of the floor, removal of the walls, installation of ducts system back, and supplying of heat to restore warmth. During these activities, the residents will not be required to vacate their houses but there will be a temporal disruption of their normal services. This phase will take an estimated 27 days.

The lifting phase will include the following activities, assembly of the machinery, removing of the porch, installation of the jacks, lifting of the building, and finally, transfer of the soil to another place This phase will take an estimated 6 days to complete. The final phase will include activities such as additional excavation, foundation replacement, lowering of the building, framing, refitting of the furnace, and finishing. This phase will take 11 days to finish.

Figure 2.0

Figure 2.0 shows the relationship between the activities projected to finish the project. The diagram also outlines the resources assigned to each activity and the flow in which the activities will be carried out. This arrangement of activities helps to provide guidance at a glance. The project coordinator is able to see a summarized flow of activities.  The summary shows how the activities flow for quick planning.

Figure 3.0

Plans and permits will consume $ 160 dollars, cleaning of the soil $320, temporary removal of pipes $160, and supply of heat for warmth $320. This first phase will cost a total of $1,280. The lifting phase will cost a total of $640 with the assembly of machinery costing $80, removing of the porch $120, installation of jacks $320, and lifting the building $120. The last phase will cost be the most expensive with a total cost of $960 with the following breakdown of the costs. Foundation Replacement $360, lowering of the building to the new basement $120, framing $80, refitting the porch $80, and the finishing of associates ducts $320.

Figure 4.0

The entire project will consume a total of $ 2880 in terms of cost and 272 hours in terms of time.

Figure 5.0

The work breakdown structure above shows the amount of time taken by each activity. It shows the start and finishes dates for each activity. In addition to that, WBS also offers the project coordinator an opportunity to see the relationship and the flow of activities within the project.