Silver Fiddle Construction (SFC) Paper
“You are the president of Silver Fiddle Construction (SFC), which specializes in building high-quality, customized homes in the Grand Junction, Colorado, area. You have just been hired by the Czopeks to build their dream home. You operate as a general contractor and employ only a part-time bookkeeper. You subcon- tract work to local trade professionals. Housing construction in Grand Junction is booming. You are tentatively scheduled to complete 11 houses this year. You have promised the Czopeks that the final costs will range from $450,000 to $500,000 and that it will take five months to complete the house once ground- breaking has begun. The Czopeks are willing to have the project delayed in order to save costs.
You have just finished a preliminary scope statement for the project (see below). You are now brainstorming potential risks associated with the project.
1. Identify potential risks associated with this project. Try to come up with at least five different risks?.
2. Use a risk assessment form similar to Figure 7.6 to analyze identified risks?.
3. Develop a risk response matrix similar to Figure 7.8 to outline how you would deal with each of the risks?.
- Identify potential risks associated with this project. Try to come up with at least five different risks?.
This being a construction company, there are various risks that relate to this nature of work. This include
- Poor estimates: This is brought about by poor planning, and it results to the project using more money that previously anticipated
- Adverse weather: The weather conditions are likely to affect the construction industry s during weather storms or tornadoes the risk of construction is very high.
- Shipping delays: The materials to be used have to be delivered to the site and thus there could be delays which could result in the project taking more time than planned. More time is equal to more expenses.
Shortage of equipment: At times, it may be impossible…