Risk Management Plan
Project: Taylor Kitchen Remodel
2/23/2021
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Section 1 – Introduction to the Plan
1.1 Benefits of Risk Management
While planning a project there is always the process of conducting risk management. This
includes the planning, identification, analysis, response planning and implementation and
monitoring of the risks of the project (Project Management Institute, 2017). By planning and
preparing for risks that may come up is extremely an important part of project management. All
teams need to be aware of and prepared for any risks that may arise. An appropriate risk
management plan allows for the stakeholders and management to explore different aspects in
which their project can succeed, if problems occur. It also provides necessary resources for when
these problems may arise. Some risks associated with a project cannot be predicted, but with a
proper risk management plan there would be leeway in how the team may handle these risks and
would allot for some of the budget to go towards these unforeseen events. Also allowing the
team to make the proper decisions based on quality data that come from the risk management
plans. Ensuring the team has the proper tools that are necessary if problems arise, is a very key
factor in project management, and exuding a successful project.
1.2 Project Goals and Objectives
To plan and implement a kitchen remodel project for the Taylor house hold.
The Taylor's want a complete kitchen remodel that is not to exceed 6 weeks for a budget
of $25,000
Plumbing will need to be upgraded in the new kitchen to be brought up to city code.
Electrical will be updated to run the new appliance package.
New can-lights will be installed in the ceiling.
The Taylor's want new custom cabinets to replace the current cabinet outlay. These
cabinets will line the outer wall, as well as build a center island in the middle of the
kitchen. The cabinets will be a navy blue and white combination.
The cabinets will have black hardware.
A farmhouse style sink will replace the current two-sided sink. The sink will be installed
in the island.
The client wants new laminate floor to be laid. The flooring will be a dark wood coloring
The client wants granite counter tops for the top of the cabinets. These counter tops will
be white with flecks of grey mixed into the top.
New appliances will be installed in the kitchen. The appliances will include a fridge, gas
stove, microwave, and dishwasher. All appliances will be black stainless steel.
A new vent hood will be installed above the new stove. The vent hood will be a black
stainless steel.
The walls will all be painted a bright white color that matches the with cabinets.
1.3 Company Background
KATS Construction is a small home remodeling company started in 2010 by Madalyne
Rutledge and a set of 4 investors from Iowa. KATS employs ten employees who complete the
remodeling. KATS estimates, plans, demos, install and completes home renovation projects in
the area. The investors oversee the daily details of the company and assist with the work
budgeting and accounting. The stakeholders of the company would be renovation clients.
1.4 Risk Identification [Show Less]