Risk Management Of The Giza Pyramid Project Essay

1444 Words Nov 30th, 2015 6 Pages
Risk Management Plan
Risk management of the Giza Pyramid project is undeniably critical given the nature and scope of the project. Starting from the extensive supply chain to the construction site, quarries and workshops, risk management is necessary to control the possible dangers. The risk to this project mainly lies on the project workforce mainly because there are huge quantities of materials being moved over long distances and heights. Consequently, there is a high risk of site accidents and there is a poor reputation of pyramid projects to address most of these problems. The result is the inability of the projects to meet deadlines and costs. As seen in previous pyramid construction projects, the risk of failure to meet deadlines and cost overruns can undermine the economic and political viability of the project. Compared to other types of pyramid construction projects, the Giza Pyramid project is prone to more complex risks due to the nature and scope of the project ranging from long duration, site location, unpredictable environment, and vigorous organizational structures. Should any of these risks occur, they could have adverse impacts on the quality of the project; a risk management plan is therefore necessary.
There are a number of risks that face the Giza Pyramid project including:
• Financial and economic risks – The estimated budget for the entire pyramid construction project is $5 billion. However, the budget might be affected by inflation, funding and…

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