Risk Analysis and Audit Process

Q. 1: For the Hypermarket Project, make a list of ten(10) possible risks to the project, categorize
them using the risk analysis matrix, and suggest appropriate contingency measure for each risk
you have identified.

Answer:
N Description of Risk Risk Category Contingency Measures
o. (From Risk
Analysis Matrix)

01 Delay in shipment by the steel 2 Make continuous

builders correspondent with the steel
builders
02 Project manager or essential team 8 Make everyone know about the
member falls sick or dies project
03 Conflict with the auditor 5 Make Negotiation
04 Fire 9 Install automatic sprinklers to
reduce loss by fire.
05 Power Failure 5 Generator
06 Natural disaster 3 No measure
07 Equipment Failure 4 Substitute
08 Sponsor bankrupt and unable to 6 Collect historical data of the
provide fund sponsor
09 “Stay Order” on the execution of the 9 Beyond the control of the
project project team
10 Changes in Government Rules 5 Beyond the control of the
project team

Q. 2: As a project manager, propose a list of five (5) policies for audit & evaluation of the project
(Hypermarket) to the project sponsor, that would could be followed in due course of this project.
Answer:
1. The project goal is to build a fully air-conditioned multistoried hypermarket showroom
within 01 November 2009.
2. Set a baseline plan to provide reference point.
3. Listing the various vendors that will be engaged in executing the project and their role in
brief.
4. Project manager have to monitor each and every steps of the project according to the
baseline and make on-site inspections.
5. Compare the actual result with the baseline and if any problem arise then take corrective
action.