Question

Can you please do a Risk Response matrix for a home renovation? project management

Answer 1

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RISK RESPONSE STRATEGY FOR HOME RENOVATION
Risk	Likelihood (H/M/L)	Impact (H/M/L)	Risk response ( Contingency strategy )	Responsibility
The entire plan exceeds budgeted cost	H	H	Purchase cheaper appliances or develop an alternative strategy	Project manager
There is a mismatch between the demand of workers & actual workers present for the task	L	M	The project manager must search for more workers to work on the project	Project manager
Appliances to be used are not available	L	L	The project manager must find a substitute for the appliances	Project manager
Problem with the reorganization of water system & electric cables	M	H	The project manager must look for services of electrician or plumber	Project manager
Completion exceeds the time limit promised	H	H	The project manager must look for additional sources of labor or sub-contract for completion of the work on time	Project manager
Replacement needed for damaged items	L	L	The project manager must look for urgent substitutes of damaged items	Project manager