Option #1: Silver Fiddle Construction Case StudyYou are the president of Silver Fiddle Construction (SFC), which specializes in building high-quality, customized homes in the Grand Junction, Colorado, area. You have just been hired by the Czopeks to build their dream home. You operate as a general contractor and employ only a part-time bookkeeper. You subcontract work to local trade professionals. Housing construction in Grand Junction is booming, and you are tentatively scheduled to complete 11 houses this year. You have promised the Czopeks that the final costs will range from $450,000 to $500,000, and that it will take five months to complete the house once groundbreaking has begun. The Czopeks are willing to have the project delayed in order to save costs.You have just finished a preliminary scope statement for the project (see below). You are now brainstorming potential risks associated with the project.1. Identify potential risks associated with this project. Try to come up with at least five different risks.2. Use a risk assessment form similar to the example in Figure 1 below to analyze identified risks.3. Develop a risk response matrix similar to the example in Figure 2 below to outline how you would deal with each of these risks.PROJECT SCOPE STATEMENTPROJECT OBJECTIVEConstruct a high-quality, custom home within five months at a cost not to exceed $500,000.DELIVERABLESA 2,500-square-foot, 2½-bath, 3-bedroom, finished homeA finished garage, insulated and sheet-rockedKitchen appliances to include range, oven, microwave, and dishwasherHigh-efficiency gas furnace with programmable thermostatMILESTONESPermits approved July 5Foundation poured July 12"Dry in" (including framing, sheathing, plumbing, electrical, and mechanical inspections) passed September 25Final inspection November 7TECHNICAL REQUIREMENTSHome must meet local building codes.All windows and doors must pass NFRC class 40 energy ratings.Exterior wall insulation must meet an "R" factor of 21.Ceiling insulation must meet an "R" factor of 38.Floor insulation must meet an "R" factor of 25.Garage will accommodate two cars and one 28-foot-long Winnebago.Structure must pass seismic stability codes.LIMITS AND EXCLUSIONSThe home will be built to the specifications and design of the original blueprints provided by the customer.Owner is responsible for landscaping.Refrigerator is not included among kitchen appliances.Air conditioning is not included, but the house is prewired for it.SFC reserves the right to contract out services.CUSTOMER REVIEW"Bolo" and Izabella CzopekFigure 1:Risk EventLikelihoodImpactDetection DifficultyWhenInterface problems444ConversionSystem freezing255Start-upUser backlash433Post-installationHardware malfunctioning155Installation(Source: Larson Gray, 2017, Figure 7.6, p. 212)Figure 2:Risk EventResponseContingency PlanTriggerWho Is ResponsibleInterface problemsMitigate: Test prototypeWork around until help comesNot solved within 24 hoursNilsSystem freezingMitigate: Test prototypeReinstall OSStill frozen after one hourEmmylouUser backlashMitigate: Prototype demonstrationIncrease staff supportCall from top managementEddieEquipment malfunctionsMitigate: Select reliable vendorTransfer: WarrantyOrder replacementEquipment failsJim(Source: Larson Gray, 2017, Figure 7.8, p. 217)Be sure to properly organize your writing and include a cover page, an introduction, headings / subheadings for the body of your work, analysis and recommendations, a conclusion, an appendix, and a list of references. Consult this assignment template for a more complete list of requirements: https://csuglobal.libguides.com/writingcenter/apa7_writing_templates/papers (Links to an external site.).Your paper should be 3-4 pages (900-1200 words) in length (not including the title and references pages) and conform to the CSU Global Writing Center (Links to an external site.). Include at least three scholarly references in addition to the course textbook. The CSU Global Library is a good place to find these references.Refer to the Critical Thinking Assignment grading rubric below for more information on assignment expectations and grading.ReferenceLarson, E. W. Gray, C. F. (2018). Case Study 7.2. In Project management the managerial process (5th ed., pp. 255-256). New York, NY: McGraw-Hill Education.Option #2: Peak LAN Case StudyTrans Systems is a small information system consulting firm located in Meridian, Louisiana. Trans has just been hired to design and install a Local Area Network (LAN) for the city of Meridian's social welfare agency. You are the manager for the project, which includes one Trans professional and two interns from a local university. You have just finished a preliminary scope statement for the project (see below). You are now brainstorming potential risks associated with the project.Identify potential risks associated with this project. Try to come up with at least five different risks.Use a risk assessment form similar to the example in Figure 1 below to analyze identified risks.Develop a risk response matrix similar to the example in Figure 2 below to outline how you would deal with each of the risks.PROJECT SCOPE STATEMENTPROJECT OBJECTIVEDesign and install a new Local Area Network (LAN) for the Meridian Social Service Agency within one month, with a budget not to exceed $90,000 and with minimum disruption to ongoing operations.DELIVERABLESTwenty workstations and twenty laptop computersServer with dual-core processorsTwo color laser printersWindows R2 server and workstation operating system (Windows 10)Migration of existing databases and programs to new systemFour hours of introductory training for client's personnelSixteen hours of training for client network administratorFully operational LAN systemMILESTONESHardware January 22Setting users' priority and authorization January 26In-house whole network test completed February 1Client site test completed February 2Training completed February 16TECHNICAL REQUIREMENTSWorkstations with 17-inch flat panel monitors, dual-core processors, 4 GB RAM, 8X DVD+RW, wireless card, Ethernet card, and 500 GB hard drive.Laptops with 12-inch display monitor, dual-core processors, 2GB RAM, 8X DVD+RW, wireless card, Ethernet card, 500 GB hard drive, and weighing less than 4½ lbs.Wireless network interface cards and Ethernet connections.System must support Windows 11 platforms.System must provide secure external access for field workers.LIMITS AND EXCLUSIONSOnsite work to be done after 8:00 p.m. and before 7:00 a.m. Monday through Saturday.System maintenance and repair only up to one month after final inspection.Warranties transferred to client.Only responsible for installing software designated by the client two weeks before the start of the project.Client will be billed for additional training beyond that prescribed in the contract.CUSTOMER REVIEWDirector of the City of Meridian's Social Service AgencyFigure 1:Risk EventLikelihoodImpactDetection DifficultyWhenInterface problems444ConversionSystem freezing255Start-upUser backlash433Post-installationHardware malfunctioning155Installation(Source: Larson Gray, 2017, Figure 7.6, p. 212)Figure 2:Risk EventResponseContingency PlanTriggerWho Is ResponsibleInterface problemsMitigate: Test prototypeWork around until help comesNot solved within 24 hoursNilsSystem freezingMitigate: Test prototypeReinstall OSStill frozen after one hourEmmylouUser backlashMitigate: Prototype demonstrationIncrease staff supportCall from top managementEddieEquipment malfunctionsMitigate: Select reliable vendorTransfer: WarrantyOrder replacementEquipment failsJim(Source: Larson Gray, 2017, Figure 7.8, p. 217)Be sure to properly organize your writing and include a cover page, an introduction, headings / subheadings for the body of your work, analysis and recommendations, a conclusion, an appendix, and a list of references. Consult this assignment template for a more complete list of requirements: https://csuglobal.libguides.com/writingcenter/apa7_writing_templates/papers (Links to an external site.).Your paper should be 3-4 pages (900-1200 words) in length (not including the title and references pages) and conform to the CSU Global Writing Center (Links to an external site.). Include at least three scholarly references in addition to the course textbook. The CSU Global Library is a good place to find these references.Refer to the Critical Thinking Assignment grading rubric below for more information on assignment expectations and grading.ReferenceLarson, E. W. Gray, C. F. (2018). Case Study 7.3. In Project management the managerial process (5th ed., pp. 256-257). New York, NY: McGraw-Hill Education.