Risk Assessment for Art Library Construction Case Study

Risk Assessment for Art Library Construction - Case Study Example This essay declares that the part of risk assessment is a major constituent of the construction plan, aimed at depicting the effects of unexpected events on the relevant stakeholders. Unexpected events have major effects on the organization, the public, owners, and the constructor. Therefore, it is vital for any project to entail risk assessment, with the aim of minimizing the damage instituted by these unforeseen events. Before the commencement of activities on the planned site, there arises a dispute among the constructors. The dispute is in relation to the number of the workforce to be hired, their salary, and the expertise needed. The dispute has a varied effect on the project, which is fully negative. The implications on the deadline for completion of the order are major, causing a 17-day delay. This paper makes a conclusion that unexpected events have major implications for a project, precise construction of an art gallery. During the process, the company incurred various risks, which consequently amounted to major losses on the aspects of time and cost. However, with a well-laid risk management design, it is possible to eliminate the dangers enacted by occurrence of these events. It helps the organization cut on costs, and if we had applied it in our organization, we would be in a position to meet the deadline. It would eliminate any losses that have been incurred, bettering our relation with the client, and allowing us proceed to other activities.