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Risks in a Home Building Project

In: Business and Management

Submitted By mtbell2925
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Pages 7
A Review of Risks Associated With Estimating a Home Building Project

Michael T Bell

PMAN 637

Originality Score 6%

A Review of Risks Associated With Estimating a Home Building Project

Introduction

In building and construction, there are risks associated with estimating a home building project. These risks in construction are all the same across the board regardless the construction. Therefore, a home building projects is confronted with the same risks as any other project in the construction industry. The risks involved are such as; project management risks. The project management risks are mainly because of improper schedule. The improper schedule may be caused by poor allocation of time in various projects that may be involved in a home building project. Poor resource planning is another management risk. This is because due to poor allocation of resources often lead to misuse and many unaccounted losses. In addition, improper and poor management of disciplines or methodologies result into management risks in a home building project. Disciplines and methodologies are tricky and need a lot of experience to manage. Therefore, a minor mistake in management of discipline and methodology is a risk that can cause a huge negative impact in a home building project. Such risks are better identified with scheduled risks.

Organizational risk is a major risk that most building and construction projects have to face, Most organizational risks in home building projects results from issues such as; resource conflicts. Such conflicts are brought about by the occurrence of multiple projects that take place. The projects include factors such as, time, scope and cost objectives. Depending on the organizational structure of a building project, such risks might end up being unrealistic I terms of finishing a project on time,…...

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