Table of Contents
Introduction: 2
The work break down structure: 2
Work breakdown structure dictionary: 2
Risk Register. 4
Conclusion. 6
Reference: 7
Introduction
Work breakdown structure helps project manager to plan the work more efficiently. The project manager of Nova Millwork has very limited time to concentrate on a particular project, apart from time they have limited money. So develop a work in fixed time frame and money to fulfill the need of the stakeholder is the duty of a project manager (Haugan, 2014). WBS helps to execute the plan in effective way. There are several risk factors in the company that are financial risk, scarcity of material, quality related issues. To maintain the time framework company need to improve their transportation. For this work organization needs to employ more workers, to engage them in work they need to train their employees (Okayama and Chirillo, 2012).
WBS dictionary
Work breakdown structure dictionary helps to provide detailed description about the work breakdown structure. WBS dictionary included work packages and it handles the accounts, simultaneously it includes the milestone of Nova Millwork.WBS dictionary includes the responsibility of an organization, starting date and ending date of a project, need of raw material, estimate the cost. It will tell project manager about the quality requirement of the company in the particular cabinetry and woodwork project.It is an integral part of scope baseline (Hutter and Power, 2005). It is a graphical tool to make a strong WBS dictionary project manager should adopt standard structure to provide descriptive information. It is a good practice to keep WBS and WBS dictionary in the same document so that project manager and stakeholders can go through both of them at a same time (Miller, 2009).
The work break down structure
The main purpose of WBS is to decrease the complexities of a work diagram (Cocuzzo, 2012). Project manager of Nova Millwork has to oversees the matter and distribute the work of interior design of Boutique hotel in South Beach.
Project manager divides the work into 6 milestones.First they focus on installation of cabinet for that manager needs to choose the raw material and measures them; design the cabinets through computer aided design and finally fix those. Next manager has to focus on the budget that includes the cost of raw materials; labor charge. Installations of bathroom cabinets are the next target of manager that includes drawing of the cabinets, doors, drawers; checking the hardware. Manager needs to concentrate on the countertops such as choosing granite, plywood and softwood. Another important work is installation of 3-D panel (Okayama and Chirillo, 2012).
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Use of different shapes and sizes of wood |
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Checking of different sizes and shapes of cabinets |
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Project success |
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Approval by the client |
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Delivery of 3-D panel wall |
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Delivery of countertops |
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Delivery of cabinets |
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Closing of the project |
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Measurement of wooden panels |
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Fixing of countertops |
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Designing and painting of countertops |
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Choosing of the granite type and the plywood core |
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Delivering the bathroom and sink cabinet |
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Installation of doors and drawers |
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Installation of screws and adjustments of hinges |
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Checking of the bathroom’s floor space |
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Costing of different types of wooden material |
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Creation of 3-D wall |
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Decoration of the wall |
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Use of 3-D lighting |
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Giving different shapes to the panels |
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Alignment of holes on the wall |
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Costing of the material |
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Choosing of softwood |
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Drawing of the cabinet |
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Estimation of labor cost |
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Estimated cost of web portal |
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Price of hardware equipments |
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Estimation of total budget |
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Fixing of cabinet |
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Computer aided design |
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Designing of the cabinet |
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Measurement of hardware equipments |
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Choosing proper wood |
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Use of slides and pulls |
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Choosing different sizes of screw and shapes |
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Installation of custom 3-D paneled wall |
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Installation of countertops |
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Installation of bathroom and sink cabinets |
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Financial planning |
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Interior design of Boutique Hotel |
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Installation of floor cabinet |
Risk Register
| Identification | Rating | Response
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Risk Owner | Warning Signs | ||||||
| Risk | Status | Category | Probability | Impact | Score | Rank | Description | |||
| Non-Availability of raw materials | negative | Project scope | High | huge | 15 | 6 | Non-Availability of raw materials is an important risk factor. Non-availability of proper raw material can affect the company. So the company should make proper arrangements of raw materials. | Inventory manager | ||
| Quality of woods | positive | Project scope | medium | moderate | 8 | 1 | If the quality of woods is not good it will have an adverse affect to the company. Quality maintenance should be done by the company. | Inventory manager | ||
| Availability of manpower | positive | Project scope | medium | moderate | 12 | 3 | Manpower is an important thing for an organization. So they have to make proper arrangements of labor and workers. | PM | ||
| Legal formalities | positive | Project scope | low | less | 11 | 2 | The legal formalities are also a risk factor for the company. The company should be more flexible in their legal matters. The company is subjective to only wood items, so they should deal in other items also. | Legal manager | ||
| Warehouse facilities | negative | Project scope | medium | greater | 17 | 8 | The facilities of inventory are the areas of concern. The company should make their warehouse for the availability of adequate raw materials. | |||
| Lack of training program | negative | Project scope | high | greater | 18 | 9 | Training programs should be done in the organization. Without proper training the labor and workers will not produce the quality goods. | |||
| Transportation facilities | negative | budget | medium | moderate | 16 | 7 | Non –availability of transport will affect the time factor of the company. | |||
| Financial risk | negative | budget | high | huge | 22 | 12 | The biggest factor is the financial factor. Finance is lifeblood of business. In the crunch situation, proper credit facilities should be needed. | |||
| Shareholders conflict | negative | budget | high | greater | 21 | 11 | Unity among the shareholders is needed. | |||
| Lack of Proper management | positive | Project scope | high | huge | 14 | 4 | Management has a huge impact on the company; it has to be flexible and dynamic according the situation demand. | |||
| Lack of communication | negative | Project and budget | high | huge | 12 | 5 | Proper communication facilities are needed in an organization. The communication process should be easy and flexible to understand. | |||
| Lack of planning | negative | Project and budget | medium | huge | 19 | 10 | Lack of proper planning will affect the company. The whole project depends upon the proper planning. Planning should be positive. | |||
The risks of the company are to be measured up to 15%.More than 15% is the shutdown of the company. If the company risks are less than 15% then it can rectify the areas of concern.
According to Raisinghani (2004), the positive risks are those risks which can be easily rectified or which causes less problems to the business. It is managed properly and can bring positive effects in the future. It can be delayed or avoided for a particular period of time. According to the chart, the positives risks are quality, management, communication and legal formalities. These risks can be rectified or adjustment can be made in future. The negative factors are those which have less chances of recovery. They create serious problems for achieving growth of the Boutique Hotel in South Beach.
Conclusion
Risks factors are the part of business. Without risk, business cannot achieve it success. The study has given twelve risks factors which are the very important for any organization. All the risks which are discussed are the basic risks which are present in every company. Legal formality should be adjusted in future and the company will try to make it more flexible. Inadequate quality of a product will induce the company to improve their quality with advanced technique. Lack of finance, planning, shareholders view and lack of training will bring a negative impact on the company. The company may lose their hold in the market (Hester and Harrison 2005).The study gives a quality chart of risk identification program sheet which shows the specific part of the company’s risk and with responses. It is also evident that the implementation of WBS helps the project manager to complete the activities within the budget and the time frame.
Reference:
Cocuzzo, F. (2012). Work breakdown structure (WBS) and WBS dictionary. Cambridge, MA: Smithsonian Astrophysical Observatory.
Haugan, G. (2014). The work breakdown structure in government contracting. Vienna, VA: Management Concepts.
Miller, D. (2009). Building a project work breakdown structure. Boca Raton: CRC Press.
Okayama, Y. and Chirillo, L. (2012). Product work breakdown structure. [Washington, D.C.]: U.S. Dept. of Commerce, Maritime Administration in cooperation with Todd Pacific Shipyards Corp.
Hutter, B. and Power, M. (2005). Organizational encounters with risk. Cambridge: Cambridge University Press.
Sauter, S. and Murphy, L. (2012). Organizational risk factors for job stress. Washington, DC: American Psychological Association.
Stecher, B. and Kirby, S. (2013). Organizational improvement and accountability. Santa Monica, CA: Rand Corp.
