ATST Risk Management Tracking Watch List Reporting Watch
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ATST Risk Management Tracking
Watch List Reporting • Watch List used to highlight potential upcoming draws on contingency • Grew separate from the Risk Register and lacked formality in reporting origin, mitigation, retirement, etc. • Not a complete picture of the potential draws/risks. • Goal was to merge this list into a revitalized summary of the project risk.
Risk Register • Review/update risks in each area – Re-assess probability, schedule/cost impact. – Able to review monthly mitigation activity and impact. – Add an anticipated retirement date for the risk to understand risk evolution and burn down. – Initial migration: • Map Watch List items into Risk Register and into CRs as needed (based on Cost-to-Complete exercise).
• Overall Risk estimated currently at ~$30 M – Cost-to-Complete exercise adds: ~$40 M – In the process of: • Working to mitigate and retire risks; these will be reviewed monthly for mitigation activity. • Evaluate potential project de-scopes to lower costto-complete. • Re-baseline review in April to outline options; request to reclaim un-scoped project expenses which approximately equal the needed funding to cover cost-to-complete.
Previous Reporting Contingency Pie Charts
Contingency Watch List The following items are potential draws on contingency if they are realized.
Contingency Watch List WBS ITEM ARRA Amount MREFC Amount 1. 2. 1. 9 Park Service SUP Provisions – Overage 1. 2. 1. 13 Cultural Practitioner Rest Station 1. 2. 3. 1. 2 M 1 Mirror Polishing – Risk with Vendor 1. 2. 3. 1. 3 CR-0082 TEOA Contract $ 539, 038 RR: PW $ 431, 000 1. 2. 3. 1. 5 New Design of M 8 and M 9 $ 675, 000 RR: $ 540, 000 1. 2. 3. 3. 1. 1 PA&C $ 484, 809 Budget fixed (and under review) 1. 2. 3. 3. 1. 3 Coude’ Lab Opto-mechanical systems $ 465, 373 Ct. C/CR: $ 366, 392 (De-scopes; fixed budget) 1. 2. 3. 3. 2 VBI Red Channel $ 1, 230, 238 Ct. C/CR: $ 662, 980 (Revised based on VBI Blue) 1. 2. 3. 3. 3 Vi. SP $ 2, 863, 569 Ct. C/CR: $ 2, 341, 080 (De-scopes; fixed budget) 1. 2. 3. 3. 4. 1, 2 DL-NIRSP $ 3, 405, 971 Ct. C/CR: $ 3, 205, 970 (De-scopes; fixed budget) 1. 2. 3. 3. 4. 1, 2 Cryo-NIRSP $ 2, 572, 631 Ct. C/CR: $ 2, 202, 630 (De-scopes; fixed budget) 1. 2. 3. 4 High Level Controls – Staffing Corr. 1. 2. 3. 5 Enclosure Construction $ 5, 000 Ct. C: Site Assembly: $ 6, 240, 000 1. 2. 3. 6 S&O (CR-0079 drafted) $ 9, 000 Ct. C: Based on Exc/Concrete bids: $ 10, 100, 00 $ 1, 200, 000 Current Tracking Status RR: Combined with CDUA Delay $ 250, 000 $ 6, 000 RR: PW $ 1, 500, 000 $ 536, 000 Ct. C: $ 1, 200, 000 (revised with delays)
