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Silver Fiddle Case

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4. Silver Fiddle Case
Risks and mitigations Not meeting the five-month time estimate is another risk that may be encountered. Lack of labor and equipment might be a problem because other houses are to be built. It will be advisable to evaluate the sequence in which these building activities will occur, and distribute resources evenly across each house. Silver Fiddle could apply Heuristics, or the rules of thumb to create a framework work for allocating resources in such a situation. A contingency plan will be to lease or hire additional equipment to augment the ones the company already has. A shortage of building materials is another risk that is possible. Supplies may run short due to the fact that Silver fiddle has many other homes to build. I would suggest purchase of building supplies in large quantities, and store them, pending when they will be needed. Since Silver Fiddle is scheduled to build 11 homes this year, there might not be many available subcontractors to work on the Czopek’s home. Silver Fiddle will do well to develop a detailed time estimation based on parametric procedures. This will ensure that particular local trade professionals will be available when needed, well in advance. As a backup plan, alternate subcontractors outside the area that are sure to be available within the stipulated time, should be contacted. The book keeper in this construction company is employed only on a part time basis, and this is risky. The possibility of loosing track of finances, scheduling and so on is very high. This applies not only for the Czopek’s home, but for the other homes that are to be built in the year. Silver fiddle could employ their book keeper on a full time basis. If that can’t be done, outsourcing of this office, or employing some other book keeper to assist can be helpful. Lastly, the

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