Human Resource Plan
The planning of manpower within a construction project in order to ensure that appropriate HR with the rightly qualified employees are hired to deliver the skills and efforts required (Chand, 2014). It also ensures that all existing HRs are functional and anticipates a future requirement. The plan allows the HRM to recruit the suited individuals in the market while managing employee retentions. In fact, the foundation of decisions regarding how to hire, fire, pay, and train the employees are part of this plan in order to enlighten the workforce about the standard working procedures (Lane, 2015). These procedures incorporate informing employees about their roles and responsibilities in meeting the project timelines and costs among other aspects. The development of HR warrants organizational improvement due to increments of productivity and elevating skills (Chand, 2014). Finally, the plan develops ways of monitoring employees and rewarding them for their work. These aspects within the plan act as the points of reference for managers and project team whenever they need procedural information.
Risk Management Plan
In construction projects, risks are associated with inaccurate records of completion cost and time, unanticipated disputes and court cases, labor and human resource uncertainties, low profit margins, health dangers, pressure to attain high profits in respect to the invested funds, and HR safety (Risk Management in Construction 2015). Risk management plan is the baseline of establishing a decisive SWOT analysis for any construction project as it reveals the unanticipated and non-apparent features. It contributes to the overall success of a project by enlisting the interior and exterior risk factors. The medium risks associated with this construction project must be addressed by anticipating the chances of their occurrence, their potential effects, and the appropriate professional reactions related to identified risks. Risk management forecasts project progress in order to track such variations as economic instabilities and hikes of materials as the project proceeds (The Importance of Risk Management in an Organisation, 2013). Furthermore, the constructing company gains high confidence in making decisions regarding the project. Risk management commences after developing project schedule, estimating costs and budget, identifying resources, and establishing monitoring metrics. A plan is then formulated through the apparent procedures of risk management approaches, identification, qualification, prioritization, monitoring, mitigations, and registering.
References
Chand, S. (2014). Human Resource Planning: Objectives, Need, Importance and Levels. Retrieved March 30, 2016, from http://www.yourarticlelibrary.com/human-resources/human-resource-planning-objectives-need-importance-and-levels/35237/
Lane, T. (2015). Critical Importance of Human Resource Planning. Retrieved March 30, 2016, from http://smallbusiness.chron.com/critical-importance-human-resource-planning-70076.html
Risk Management in Construction (2015). Retrieved March 30, 2016, from http://www.stakeholdermap.com/risk/risk-management-construction.html
The Importance of Risk Management in an Organisation (2013, August 15). Retrieved March 30, 2016, from http://www.careersinaudit.com/article/the-importance-of-risk-management-in-an-organisation/
