02 Feb Risk Management Plan
Order Instructions
Project alternatives
Early in its design phase, a large project generally has many different options available in terms of both design and construction. Those options, or project alternatives, are important to the project for at least two reasons—a preferred alternative must be selected as the basis from which to evaluate risk, and the alternatives remain as potential paths for project management, should a problem occur and the original design option become unfeasible. In this section, the project alternatives should be discussed and listed, with their pros and cons. Further, the preferred alternative should be identified and a trigger point should be established as to when it would be appropriate to consider undertaking one of the potential alternates.
Consider for your project what alternatives should have been or should be considered before preliminary design begins. As examples: for a highway project or transit project, alternatives may include different alignments; for a plant overhaul, alternatives may be changing location, adding automation for certain production activities; for a bridge installation, alternatives may include concrete or steel, arch or girder or cable; these are examples only. Look carefully at your project and conceive of the alternatives.
Include some sort of appropriate analysis, such as a decision tree or breakeven assessment, etc. and include this information in this section of the risk management plan.
***We are on Chapter4 for this week, project alternatives. Let us focus on the technical aspects related with the project alternatives. I have attached example like last week for reference. Please let me know if you have any questions
