Undertaking A Building Construction Risk Assessment Essay: Project Report.

Project Description

The project is about building construction activities risk assessment. My role was of risk management team. The management of Guan Ho Construction Company is successfully in the assessment of the risk of their project.

Aims and Objectives

The primary aim of the firm is to satisfy all their internal and external stakeholders. It is also important for the firm to make use all their resources in an effective manner and Guan Ho Construction is highly successful in this case.

Time table

The total time taken was around 5 months.

Barriers

Yes I faced few challenges at times and it was resolved in a timely manner. I approach my seniors for resolving all my queries and it was solved effectively. I am grateful to all my seniors and the entire project management team to resolve my issues and queries in a timely manner. The organization Guan Ho Construction makes effective resource planning so that full utilization of resources takes place.

Four learning outcomes

The management of the firm also implements modern version of technology in their respective projects. Apart from this, all the employees are well directed and well adverse about their roles and responsibilities regarding the project.  In addition to this, the organization also negotiates with their suppliers before closing the deal. After selecting the best alternative supplier, the organization Guan Ho Construction closes the deal. However, the organization also takes into consideration the quality of raw materials given by the suppliers. If the quality of materials is not up to the mark, then, the firm do not close the deal with that respective supplier. A proper budget is constructed on quarterly basis and the variances are also measured in order to curtail the expenses. The next comes project coordinator members who manages all the activities of the project. These are middle level group of people in case of every project. They play a key role in communication between upper level and middle level. In addition to this, in case of the firm Guan Ho Construction, the process of risk management plan takes place via middle level project coordinators. The last comes field coordinators who are actually workers in case of construction projects. From this, it can be inferred that the organization manages the hierarchies of control in an effective manner. From the project, several reflective questions can be answered. They are as follow:-

• What should or could I have done differently?

I could have interact more and my time management skills would have been better.

• What would I continue to do the same?

Aims and Objectives

I need to learn effective time management skills

• What stopped me from doing this? What have I learnt about myself? (positive and negative)

The fast delivery of the project stopped me to interact more with the people.

• What did I learn about my current knowledge or level of practise? (strengths and weaknesses)

I learned about people management, risk management and team dynamics.

• Did the experience achieve any of my learning goals or meet any of my required competencies?

Yes, the experience have achieved my learning goals and all my competencies are met.

• Anything negative that went badly how would I make sure it doesn’t happen again?

Only time management did not go well. I will learn more to enhance the skills.

The organization Guan Ho Construction Company is registered with the Building and Construction Authority (BCA) of Singapore. The main office of the organization is located in main office is located at 395/395A Changi road. The company has been in building business for the last 60 years (Guan Ho Construction Co (Pte) Ltd. 2018).

It has completed over 2 billion worth of projects. The given report will analyze the risk assessment of new project implemented by the organization.  It has been seen that there are many risks associated with construction project, therefore, it is of utmost importance to prioritize and manage those risks in an effective manner. Based on this, recommendations will be given and a reflective report of the project will be prepared.

Milestone List
Project:			Date: 04/01/20xx
Milestone No.	Milestone	Mandatory/Optional	Completion Date	Verification
001	Project Start	Mandatory	5/1/2018	Sponsor Approval
002	Complete Gathering Requirements	Mandatory	10/1/2018	Sponsor Approval
003	Complete Design and Risk Management Plan	Mandatory	25/1/2018	Sponsor Approval
004	Prioritizing the risks	Mandatory	5/42018	Sponsor Approval
005	Complete Testing of the risk management plan	Mandatory	10/4/2018	Sponsor Approval
006	Complete Implementation of the plan	Mandatory	12/5/2018	Sponsor Approval
008	Contingency Plan	Mandatory	14/5/2018	Approval
007	Project End	Mandatory	20/5/2018	Sponsor Approval

Table 1: Milestones of the project

The main aim of the report is to assess the risks of the project.

The aims and objectives of the project can be evaluated with the help of SMART objectives.

Specific- The objective is to analyze and assess the risks of the project of the organization. Each and every stakeholder associated with the risk assessment plan can understand this.

Measurable:- It can be measured with the help of the feedback of the stakeholders. According to the needs and requirements of the project, the respective milestones have been set. The evidence of completion can be evaluated with the outcome of the risk management plan (Krajewski, Malhotra and Ritzman 2015)

Realistic-It is possible for all project team members to complete all the required tasks in a timely manner and manage the risks within the new project of the organization. The plan is fit into the overall pattern of work of individuals associated with this project (Glendon, Clarke and McKenna 2016)

Time bound-The given risk management plan is set to complete within 6 months of the project. It is feasible to meet this deadline. The next review date will be after 1^st four months of the project. It is also appropriate to do this work of risk assessment at this current stage (Schwalbe 2015).

Time table

The surroundings of the project was extremely positive as the organization firmly believes on effective team dynamics while making its large project successful for both short run and long run. In addition to this, it can be also inferred that the value of importance for stakeholders have also been realized by the top level management of the organization. It is also important for the firm to collect all the resources before starting the construction project. These are the values that are realized by the firm during the project (Sadgrove 2016)

Learning Outcome #1 - Synthesise and demonstrate skills and competencies required for successful integrated management

The first learning outcome can be evaluated with the help of “Integrated Management”. The first stage is the planning stage. At the every 1^st stage, the selection of project team members were done. A team of 20 people was constructed including 1 project manager. All the team members were given separate duties to fulfil the aims and objectives of the project. The given roles and responsibilities are as follows:-

Who	Role
Project Manager	Will manage the day-to-day operational and tactical aspects of multiple or large-scale projects. Works on client engagements within practice. Reviews high-level deliverables across projects. Stakeholder’s satisfaction. Minimizes our exposure and risk across multiple projects. Manages scope and mitigates risk across projects.
Risk Management Team (10-12 members)	· Identification of the various risks · Categorize and prioritize the risks · Risk Management Plan · Contingency Planning · Review Report
Other team members	· Reviewing the project · Financing · Collection of resources

Table 2: Roles and Responsibilities of team members of the project

After selection of project team members and defining their roles and responsibilities, it is of utmost importance to mediate the plan and consult with the stakeholders. Due to this reason, it is also important to prepare a stakeholder communication plan at the beginning of the project. This can be further explained with the help of the stakeholder communication plan:-

Stakeholder	Communication medium
Customers	Direct message/online medium/social media
Suppliers	Via mails
Employees	Direct message

Table 3: Stakeholder communication plan

The organization Guan Ho Construction Company uses this stakeholder communication plan in order to communicate with the stakeholders. They have a definite set of measures and definite communication plan in order to complete any kind of construction project. This makes them successful in the long. Apart from this, the stakeholder communication plan and risk management plan goes side by side (Fleming and Koppelman 2016).

It is also important for the firm to solve their problems effectively and in a timely manner. The organization uses a 360 degree feedback approach in order to take feedback from their employees as well as their stakeholders. Apart from this, there are online review systems, from which Guan Ho Construction can take feedback of the suppliers. This helps the organization to manage their internal risks and external business risks associated with construction projects. This can be considered as an effective process for problem solving among the stakeholders undertaken by the organization (Turner 2016)

Barriers

The organization also implements trial version of risk management process in their project to check whether it will work or not in the long run. Due to this reason, lot of trials is important in order to manage such a huge construction project in a successful manner. In addition to this, it can be also inferred that resource planning is also important along with trails of risk management and project implementation process. The main resources required by Guan Ho Construction for this project are as follows:-

• Human resources
• Raw materials
• Suppliers
• IT technology

The project management hierarchy is as follows:-

 

Figure 1: Project Management Hiearchy

(Source: Heagney2016)

From the above figure, it can be inferred that in case of major projects, the project manager is the head of projects in case of project hierarchy. In addition to this, it can be inferred that the next position is of training coordinator and financial head. In case of large construction projects, the role of finance and accounts head is of crucial importance. Large amount of money is at stake in such cases. Therefore, a proper budgeting and collection of financial resources from various sources of funds plays a key role in case of every organization (Kerzner and Kerzner 2017). In case of Guan Ho Construction, the collection of funds is mainly from sources of debt and some parts of equity. (Fuller et al. 2017)

There are several risks associated with any kind of construction projects. These are as follows:-

• Business risk
• Resource risk
• Environmental risk
• Technological risk
• Financial Risk
• Legal Risks
• Political risks (Nicholas and Steyn2017)

It is important for the firm to analyze and prioritize the risks in a timely manner. This can be done with an effective project management plan. This can be further explained by identifying the risks and hazards:-

• the construction workplace itself, including its location, laIt, condition and accessibility
• selection of appropriate design relating to the construction work
• hazardous substances, including the handling, use, storage, and workplace transport or disposal of hazardous substances
• the presence of asbestos
• systems of work
• Selection of plant, including the transport, installation, erection, commissioning, use, repair, maintenance, dismantling, disposal storage or of plant
• manual handling, including the potential for occupational overuse injuries, and
• Physical working environment, for example, the potential for electric shock, immersion or engulfment, fire or explosion, slips, trips and falls.

It is also important for the firm to analyze employee and staff availability. The organization Guan Ho Construction maintains an effective roster in order to check the availability of the employees during the project. The organization manages project finance while preparing forecasted cash flows and budget. The organization Guan Ho Construction also manages supplier customer relationships in an effective manner. They take regular feedback from all their suppliers and customers and solve all their grievances in a timely manner. Learning Outcome #4 - Critically apply knowledge about the practical application and synthesise the different abilities required to implement the chosen client based tasks

The organization Guan Ho Construction follows a hierarchical and adhocracy culture to meet the requirements of the stakeholders in this dynamic business environment. In addition to this, this type of culture helps the firm to manage its employees in a dynamic and creative manner. The hierarchical culture helps the firm to follow the chain of command to manage the risks in the given project. In addition to this, it can be also inferred that the organization is successful in managing grievances of all their respective employees (Lock 2017). The employees of the firm follows the concept of Bend over here it comes again rule in order to implement quality drives and waste reduction in the construction project. This also helps the firm to eliminate the risk of waste reduction and lack of quality.

Four learning outcomes

Guan Ho Construction also follows Q x A = E formula to manage change within the organization. If both quality and acceptance is combined together, then, the required change will be effective. They are also in the verge of improvement of methodologies in order to maintain their sustainability. In case of change management, the project management team focus on upon the group of 60 percent who sit on the fence” so to speak, in case of 20/60/20 Rule. The efforts will be upon them, as they are key to success for managing the change successfully as they form the majority of people.  Due to this reason, this learning outcome was met successfully.

Description

• Short description of I experience in the learning set

I have learned about management of risks in case of large construction projects.

• Reflection on the general experience of working in an inter-professional learning set i. e:
• -what was my role?

I was a part of the risk management team for the construction project for the organization Guan Ho Construction.

• -team dynamic did it function well was it welcoming?

The team dynamics was extremely positive as the organization follows a dynamic work culture and they give importance to resolve grievances in a timely manner.

• -was everyone communicating effectively?

Most of the people was communicating effectively. However, there were few people who were arrogant and not ready to listen to others.

• -reflection on the learning set project

My learning was immense in this construction project. I face several challenges which I was successful to overcome.

• Feelings

*How did I feel and what did I think prior to the group work?

I was not positive before the starting of the project. I felt a bit nervous prior to the group work.

*How did I feel and what did I think during the experience?

I felt very positive during my experience to be associated with this construction project. In addition to this, it can be also inferred that I also learned different types of risk management techniques.

*How did I react during the experience?

I also reacted in a positive manner and I was up for new challengers during the experience.

*How did I feel and what did I think after the experience?

After the experience, I feel very proud to be associated with the project. I have learned many new things during this project.

• What went well and badly during the experience?

The learning went well during the experience. On the contrary, hectic hours spend during the project was not good as expected.

• How did the experience end?

My experience went in a positive note. I have learned many things about risk management and team dynamics in this large construction project. Therefore, this project was highly successful in my career as the learning was immensely good.

• How did I and others react to every situation?

An introduction describing the organization and its business

My risk management team was open for change and we used to react positively in every situation. This can be a positive sign of team dynamics of our project and risk management team.

• How was my contribution useful and what evidence justifies this? If unable to contribute in some elements explain why?

I believe that my contribution was positive in the entire project. I worked late hours and I gave my best in the project so that it can be successful. It is evident from the success of this project

• Were other people’s reactions similar to my own? Why were they similar or different?

Other people reactions are also similar to me which is evident from their behavior.

• What do I need to do to be better prepared next time?

I will do proper research before involving myself in such kind of large construction projects.

• What are the areas that need to be developed?

Only time management did not go well. It needs to be developed.

• What steps need to be in place to achieve success in the future?

I need to groom my time management and technical skills of construction industry.

• Do I feel I need to attend training if so what training and why?

Yes, I need training in time management

• Do I feel I need to learn more to help be more prepared in future?

Yes, I need to learn more in future to attain my goals.

From the above four learning outcomes, I have learned that proper utilization of resources and a stakeholder communication plan is of utmost importance for success of various organizations. In addition to this, it can be also inferred that management of finance in a timely manner plays a key role in large construction projects. There needs to be a proper project hierarchy and it is of utmost importance for the firms to prioritize the risks as per the needs of the stakeholders. Apart from this, a contingency plan is also important during long run if things do not work well

References

Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.

Fuller, M.A., Valacich, J.S., George, J.F. and Schneider, C., 2017. Information Systems Project Management: A Process and Team Approach, Edition 1.1. Prospect Press.

Glendon, A.I., Clarke, S. and McKenna, E., 2016. Human safety and risk management. Crc Press.

Guan Ho Construction Co (Pte) Ltd. (2018). Guan Ho Construction Co (Pte) Ltd. [online] Available at: https://www.guanho.com/ [Accessed 28 May 2018].

Heagney, J., 2016. Fundamentals of project management. AMACOM Div American Mgmt Assn.

Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Krajewski, L.J., Malhotra, M.K. and Ritzman, L.P., 2015. Operations management: processes and supply chains. Pearson.

Lock, D., 2017. The essentials of project management. Routledge

Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and technology. Taylor & Francis.

Sadgrove, K., 2016. The complete guide to business risk management. Routledge.

Schwalbe, K., 2015. Information technology project management. Cengage Learning.

Turner, R., 2016. Gower handbook of project management. Routledge