MAPUA UNIVERSITY

School of Civil, Environmental, and Geological Engineering

FINAL REPORT (Coursera 1)

“Managing Project Risks and Changes”

CEM198-3R/E01

Submitted By: CHAIRMANE C. SARSALEJO

Submitted To:

DR. DANTE L. SILVA

MAY 2, 2023

I. Preliminaries

1. Course Taken: “Managing Project Risks and Changes”

2. Course Description: This course intends to teach students how to manage project risk by determining, evaluating, and documenting changes to project scope and objectives that are unavoidable.

3. Institution that Offered the Course: University of California, Irvine

II. Course Description

1. Course Content:

With every project, there will be unexpected situations. This course will discuss with students how to effectively manage project risk by determining, evaluating, and collaborating on unavoidable modifications to project scope and objectives. It will help us learn and apply the aspects required for measuring and reporting on performance on project cost, schedule, and scope. We will be provided the resources that are necessary for managing changes in an efficient manner for the team and other people involved with the project.

2. Learning Objectives:

• It covers the different elements of a plan for managing communications.

• It will help me to understand the significance when it comes to different channels of communication.

• It outlines the important aspects required for measuring and reporting on the scope, timetable, and cost performance of the project.

• It will also go through all the different risks involved in a project.

• Determine the meaning of the risks you identified.

• Create outcomes for a high-priority risk.

• Changes to the project scope must be identified and analyzed.

• Explain the causes and consequences of project changes.

• Explain the objective of a lectures-learned session as well.

3. Characteristics of Course Delivery:

This is a self-paced online course, which means you can go through the material on your own time. As a result, there are no deadlines or a regular weekly format to adhere to. Therefore, study at your own pace through the modules. Each module in this course will recommend information related to the module material that will enhance your educational experience. These readings are entirely voluntary. This specialization includes all of the resources required for accomplishing it.

4. Assessment and Evaluation of Students in the Course:

In this course of study, each module is going to provide a learning activity that we are abletocompleteinordertoimplementwhatwehave learnedinthecourseintopractice.

We will be able to test our knowledge and skills at the end of each module by taking a short quiz. Every quiz scores 20% of our grade, while the final exam counts for 40%.

In order to pass the assessment and final examination, we students have to get 80% or better. The exams mentioned above and this final exam will account for 100% of our overall course rating. The assessments and final examination can be taken as many as 5 times in a 24-hour period. This should account for any technical or temporal concerns that may arise. The overall score for the assessment and final examination is going to be the highest of all our attempts.

III. Course Summary

The course content has been divided into five weeks, with each week covering a different topic and containing an activity from "Managing Project Risks and Changes."

Week 1:

Week 1 includes a course overview and a course survey. The course overview provides an introductionto the course, discussing what you will learn in recognizing,assessing, and expressing unavoidable modifications to project scope goals and objectives as they deal with project risk management. It also describes the course learning objectives, such as risk management components or features. It also discusses the course structure, the format of the course, the recommended courses to take in sequence with titles listed, and the additional readings and exercises that may be faced. Following the introduction, they provided a link to a course survey, which could help the University of Irvine to improve the course and future courses.

Week 2:

The second week focuses on project communication. The module is divided into seven parts: a 9minute video lecture, a reading lesson titled "Introduction to Project Management Principles and Practices," and a 2-minute video covering project risks and modifications. It also contains additional readings for those who want to invest in the purchase of textbooks with the provided titles. And then there will be a reading activity in which you will put what you have learned into practice by constructing a plan for communication. Following that, a quiz with ten questions was then given. And a 12-minute additional video regarding how to convey one's performance to executives was shown at the end of the module.

Week 3:

Week three is divided into eight parts, each of which includes reading and video lecture materials, an exercise, and a module quiz. The first part is simply additional information that suggests enrollingina coursespecialization.Thesecondsectionconsistsofavideolectureonhowtoreduce the negative effects of risks in a project. The third part consists of a reading lesson on project managing risks. Following that, a 1-minute video of a case study was shown. Then additional optional reading for enhancing the newly gained knowledge. The next section is an exercise in assessing risk and how it has an impact on the project. Following that, there is a quiz with ten questions and a bonus video on how to include change management into your success formula.

Week 4:

The fourth week is also divided into a video lecture, reading lessons, exercise, and a quiz with a bonus videothatwillhelpus inidentifyingand analyzingchanges intheproject'sscope,describing the causes and impacts of project changes, and defining the goal of lessons learned session.

Week 5:

The last module concludes this course by introducing students to the industry expert panelists, completing the final examination, and responding to the post-course survey. In addition, there is an extra lecture material on Projects Procurement Management.

IV. Student Learnings

This course taught me how to manage project risks by identifying, evaluating, and reporting unavoidable changes to the project's scope and objectives. It went on to say that surprises can happen with any project, so I will be able to manage my team and other project stakeholders by utilizing the aspects and methods used to assess and communicate the project's scheduling, cost, and scope performance that was discussed.

Week 1 Introduction

This module is completed by reading the course introduction and taking the course survey. Here, I am introduced to all the topics of the course.

It gives me an overview of the course learning objectives such as the definition of the communications management plan, the importance of communication channels, the key elements that are needed to measure and report on project scope, schedule, and cost performance, identification of project risk events, prioritizing the risks that are identified, developing responses for a high priority risk, identification and analyzation of project’s scope changes, and the purpose of conducting all the lessons learned.

It also introduced me to the course structure where it was discussed that this course is a self-paced onlinecoursethatexplainedthatIcangothroughthecontentasquicklyorslowlyasIwantbecause there are no deadlines or a weekly structured format that I should follow but instead, I can move through the course content in my own pace.

Also, I was recommended here that there is other four courses I can take as a sequence for this course, the first course given was “Initiating and Planning Projects”, next is “Budgeting and Scheduling Projects”, the third one is this course “Managing Project Risks and Changes”, then the last one will be “Project Management Capstone”.

After that, it was discussed that there are also recommended readings in each module that correlate with the course content that will help me enrich my learning experience, and these readings are not required or it is optional. The resources for these readings were also given.

I was given also an overview of the exercise that I will encounter which will help me apply my learnings practically. After that, the percentage of the quizzes and exams were discussed where each quiz is 20% worth of my grade, and the final exam is 40% of my grade. And to pass each exam, I need to get at least 80% or higher, and if I got less than 80%, I have a chance to retake it five times in a period of 24 hours and my grade will be the highest score I have received.

The second part of this module is taking a course survey with thirteen questions that will help the University in developing this course and other courses in the future.

Week 2 Project Communication

Thesecondmoduleconsistsoflecturesinvideoformat,lessonsonreading,a casestudy,additional lectures, reading tasks, a course quiz, and an additional video lesson on project communication. Margaret Meloni, MBA, PMA, discusses project communication in the first video lecture, where I discovered how vital it is in projects, companies, and project managers. I discovered that 90% of a project manager's time is spent communicating, which involves preparing documentation, and presentations, and organizing a meeting that must take place in order to discuss a project. And every communication has the power to remind people of the project's value. To make her understand the project's scope. To bring challenges to light. To inform people of the risks. Despite that, some people fail to take full advantage of their communications. They do not plan ahead of time before providing status updates. They do not see how their documentation might be used strategically, which is unfortunate. A well-planned communication strategy can mean the difference between an ideal and great effort. When you engage from a proactive rather than a reactive perspective, your stakeholders will understand what is needed of them and when. They won't be taken aback by project happenings. They will also have more faith in you as their leader. Planning your communications allows you to avoid missing out on opportunities. If you have a monthly executive status briefing, for example, outlining what you want to emphasize throughout the briefing will assist you teach the executive team about the tasks at hand. I can discuss difficulties with them. Give appreciation to those in your team who are doing great work and inform the leadership team of your needs. It's not only a matter of reporting status. Planning your communicationsallowsyoutoavoidmissingoutonopportunities.Ifyouhaveamonthly executive status briefing, for example, outlining what you want to emphasize throughout the briefing will assist you teach the executive team about the tasks at hand. I can discuss difficulties with them. Give appreciation to those in your team who are doing great work and inform the leadership team of your needs. It's not only a matter of reporting status. of project communications. That doesn't mean you have to develop and spread each project's communication yourself. I might have a communication expert. I may collaborate with the department or an organizational communications team, based on who will be listening to my communication. This group may be in charge of reviewing and approving your messages, and it may also be responsible for releasing them. You are interested in including people as early as you can so that you can understand their needs and restrictions. A simple template will do. I might also include it in your template. Perhaps include some discussion of the project's overall communication strategy. What if your initiative causes considerable change? If this is the case, you will want to include a number of communications that will help to declare the fact that change is on the way, address the purpose of that change, the possible advantages of the change, acknowledge that the change may be difficult, and even demonstrate the way to become aware of the upcoming change. The list of the people who matter and their contact information is in your stakeholder registration. My analysis of stakeholders and management of stakeholders’ plans inform your communications strategy. And if you are heading a long and difficult project, it is a good idea to add some activities that represent anniversaries and celebrate their completions; these events should be included in your communications. Additionally, it will aid in keeping your stakeholders engaged. I could also conduct some communication evaluations. Some methods or tools for gathering feedback to determine whether a particular communication or series of communications was successful. She also discussed that I need to remember that I may need to create comparable communication with a variety of people. These could be thought of as channels. I can communicate with senior management. There is downward communication with subordinates, lateral contact with coworkers and different functional groups, and lateral communication with friends, social groups, and other organizations. As I get ready for communications, keep information from different channels in mind so that you can plan effective communication for each group. The project's timeline should include important communications. Consider them as outputs and incorporate them into the structure of your work breakdown framework so they can be evaluated. Budgets and other resources are used in some types of communication. Besides reporting the actual outcomes against our starting points, I will alsohighlight major challenges and hazards. Your progress report is a chance to demonstrate the effort that the team works to accomplish what has been done. The status section is a place to address any concerns that you and the other members of the team are unable to fix on your own, as well as how you successfully overcame such issues.

I also learned that Project Communications Management encompasses the activities required to assure the timely and proper generation, gathering, distribution, storage, retrieval, and final disposition of project information. Such procedures may overlap or relate to one another, as well as with activities in other knowledge fields. And these methods include initiating, planning where you have to plan communications management, executing where you have to manage communications, monitoring/controlling where you control communications, and the last part will be closing.

In the case study, it was discussed that being the assigned project manager, you are responsible for creating and distributing the appropriate project messages to the appropriate personnel. This can be time-consuming at times. One of the difficulties you will confront is that every branch is involved in the project. The marketing department, for example, is arranging marketingand a webbased campaign to promote the new product. In order to correctly record product cost and profit statistics, the accounting department's records must be updated. Every goal that you and your team reach put you close to the product's release. Each milestone could mean something different to different departments. For instance, once the prototype has been authorized, the marketing team can begin spreading information about the product on social media.

In the extra video lecture, I learned that the fundamentals you must always be ready to address: your schedule, the cost structure, the main issues you're dealing with, and potential risks. There are some topics that you must always be ready to discuss. But every now and then, someone will ask you something and you won't know the answer. Be precise.

Week 3 Managing Project Risks

This module discussed how to determine project risk events, create a statement of risk for a given event, prioritize determined risks, and creative responses to high-priority risks. Here, I learned that the goal of managing project risks is to reduce the probability or impact of undesirable occurrences or threats to your project. And to improve the chance or effect of favorable events or opportunities, so that a positive risk is a danger and a negative risk is an opportunity. Also, there is a project charter that includes a section for high-level risks; you as well as your team will expand on the information provided as the project continues. You've also recorded some high-level assumptions. Facts on which you will rely as you progress through the assignment. These have the potential to develop into risks. If you're making plans based on the premise that this project is so essential that it will require a projectized organization. It is important to point out that if another style of project structure is utilized, the timeline and budget would be changed. I also learned that the team can detectriskfactorsinmanydifferentkindsofways.Abrainstormingsessionmaybequitebeneficial since it allows your team to explore what they consider to be dangers and allows the group to build on one another's ideas. Similar projects' dangers are frequently examined. There are also risk taxonomies for different types of projects inside specific industries. Another excellent method to detect risks is to go over the task breakdown structure. Examine the work categories and analyze the risks associated with completing the assignment. You and your colleagues may begin to feel as if you have discovered too many dangers. Don't let this get to you; it's actually a positive thing. Not every risk will be realized, and that's fine. Don't discourage people from raising a danger because you and those around you will assess and prioritize them. You record the risk data in a register of risks using this information. Also, when you may conduct research that provides you with detailed information on the risks you face or when you can obtain data that provides you with this data about your hazards. You consider that into account, and you and your colleagues use your experience to determine the effect and chance of a risk. With your risks prioritized, it's time to think about how you'll respond to the dangers that have captured your interest. We are focusing our time together on risks that are problems rather than opportunities. As a result, you are attempting to create remedies that make the dangers less likely to occur or less severe if they actually occur. You may accept the risk, which implies you recognize it exists and have a strategy in place regarding what to do if it happens. However, you have not taken action to mitigate the risk that an important member of your team will leave. However, you are not permitted to employ a replacement until the original employee gives notice. And there are steps you can take ahead of time to try to avoid the risk. If you want to prevent the risk, that implies you're altering your strategy to eliminate the risk. If you work in outdoor construction, you may simply avoid scheduling tasks throughout the rainy season. You choose to avoid the possibility of rain, preferably during the recognized rainy season. When you pass the risk, you hold another person liable. You are transferring control over the potential danger as well as the accompanying effort. It does not mean that the risk has been eliminated; rather, it means that it has been transferred to a party who is better suited for dealing with it. If you work in outdoor construction, you may simply avoid scheduling tasks during rainy weather.

I also learned here that once risks have been determined, they must be prioritized. This can be accomplished by considering how probable danger is to occur and the effect that it would have if it happens. Risks that are both extremely likely and important should draw your attention. You'll want to be prepared for these risks. You don't want to select which dangers are important on your own.

In the last part of the module, I learned that I shouldn't ever apologize for expecting modification requests from clients, sponsors, or anybody else. It is sound business practice. You don't want to spend corporate time and money as if we had a blank check. Change control and change requests maintain track of where our time and money went. It's a responsibility and documented changes aid in improved forecasting for the future. Several of our best estimates are based on previous information and lessons learned.

Week 4 Change Happens

In this module, I gathered and analyzed project scope modifications, described the reasons and impacts of project adjustments, and defined the goal of a lessons-learned session. I learned here that, the goal for each of your plans will not be to keep things perfectly static. That doesn't mean you should ignore the plans. It does imply that you should wish to proceed with your plans while accepting that some adjustments will occur. A certain quantity of change is to be considered on your project. Change is not always a terrible thing and successful projects go through changes. And scope creep happens when goals for the project haven't been clearly defined or agreed upon. It additionally occurs when there was minimal or no planning, leaving no true knowledge of what has to happen. Whenever there is no formal mechanism for requesting changes, scope creep might occur. Also, there are several compelling reasons to request project adjustments. It is possible that a team member will discover a new technique to solve a problem during the project. That approach provides a sense to incorporate into the work being done right now. Alternatively, someone on the team might find something that needs to be corrected, and as a project group, you are engaged in a similar field where the correction is required. And incorporating the correction into your project may be more efficient. The more time that you work on your project, the more about it you will learn. And occasionally such understanding leads to changing recommendations. That brings us once more to the point: making modifications to the project you are working on is not necessarily a bad thing. It's all about how you manage it. You need a change management process that is simple to grasp, easy to follow, and properly communicated. It was discussed here also the change board often includes key project stakeholders that represent various parts of the company and may make decisions that are optimal for both the project and the organization. There are changes that can be approved by the team, changes that must be approved by the change board, and adjustments that need executive approval. As a result, the project is not put on hold while the board meets for every modification, but it still has a high level of scrutiny to avoid scope creep. The advantages of change management are numerous. The formal process discourages insignificant adjustments. I also learned that a log keeps track of the costs of changes. The integrity of the work breakdown structure and performance metrics is preserved. Furthermore, the allocation and utilization of the budget and management savings are tracked. And it was discussed that it's preferable to collect these lessons as the project advances. Too often, we wait until the end and then remember only the major events. There are numerous tiny lessons we may learn along the way that will help us perform a better job the following time.

Week 5 Project Procurement Management

This course was completed by seeing our industry professional panelists, completing the final examination, and takingour post-course survey. In addition, there are additional study lessons that have the topic of Project Procurement Management.

I learned here that Project Procurement Management consists of everything from deciding what will be obtained from outside the business to discovering reliable suppliers and handling contracts. Contracts and legally binding documents happen between the buyer and seller. A contract may also be referred to as an arrangement, a partnership, a subcontract, or a purchasing order, depending on the situation at hand.

Itwasalsodiscussedherethattherearefixed-pricecontractsinwhichyoupaythesellerorsupplier an agreed-upon amount, as defined by the contract - despite the seller's costs - and the cost remains set until both parties accept changes to it, which is usually done through a change order process. Another type of contract is cost-reimbursable, in which you pay the contractor for actual expenses plus agreed-upon extra profit. In such a situation, the buyer accepts to pay the contractor each of the direct and indirect costs. The other type is time and materials contracts, which combine the elements of fixed-price and cost-reimbursable contracts and are flexible because the final cost for the product cannot be determined at the time of provide but can also resemble fixed-price contracts because the cost of labor can be set by both parties.

V. Actual Application

Learning Objectives:

✓ Different risks involved in a project.

✓ Create outcomes for a high-priority risk.

Project Name:

➢ Mixed-Use Building (Construction Engineering and Management Project 2 – CEM1822L)

Perspective Views

Floor Plans

➢ Ground Floor Plan

➢ Second Floor Plan

➢ Third Floor Plan