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Running head: Initiation Step - ATOM 1 Mayhem on Madison (A) Risk Management Priya Prasad BUS 519 Project Risk Management Dr. Gregory Hart Strayer University October 24, 2010 Running head: Initiation Step - ATOM 2 Abstract As defined in Hillson & Simon (2007, p.23), any uncertainty that, if it occurs, would have a positive or negative effect on achievement of one or more objectives. Objectives have to be clearly identified for a project in a Project Charter or Statement of Work so that threats and opportunities can be identified. In this paper, I will be analyzing the case of mayhem on Madison (A) where a New York based property developer Tamarkin Co. faces strong opposition from members of the Carnegie Hill community against Tamarkins proposal to construct a mixed-use development (i.e.) a 17 story condo building over an existing Citibank building in the Historic District and the route they should consider when their proposal finally gets shut down by a local regulatory agency. They were faced with several issues such as: Strong opposition from Citi Neighbors which had popular entertainers such as Woody Allen, Kevin Kline etcas its members. Need to submit their proposal to Landmark Commission for approval, which will determine what can actually be built. Disgruntled neighbors who do not want the proposed development due to their concerns such as insufficient light in the area, they felt that the high rise building would not allow adequate light to the neighboring buildings. This paper will analyze the potential steps that the developer could have considered as part of the Risk Management Process which would have helped them communicate better with the local community, in turn gained positive response and support from the Running head: Initiation Step - ATOM 3 neighbors.... View Full Document

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