Project Risk Analysis
Football Match as Charity Event — Project Risk Analysis
The football match is organized as a charity event to raise more funds. Yet, as any other organized endeavor, it stands to suffer due to several potential risks. Some of these risks include the chance of rains, the chance that a certain player would not show up and so on. While these risks seem rather trivial, a deeper look at the situation would reveal that they in fact have the ability of ruining the entire event especially when they can occur at all levels of the project life cycle — defining, planning, executing and delivering (Gray and Larson, 2002).
The risks which can occur at phase levels include:
At the defining level, when the project is assessed in terms of the needs it has to satisfy, a major risk is materialized in the possibility of the wrongful identification of the need.
During the planning level, the primary risk is that of setting unrealistic schedules or budgets. It could for instance be possible to leave out important details such as how the charity money would be collected. Also, since people would be giving money, they might welcome a souvenir by which to remember their good deed. It is important that the donors be rewarded. At this stage, there are several details which could be left out or misinterpreted. Another risk at this stage refers to the inadequate allocation of the resources.
3. In the executing stage, the main risk is that of implementing an inadequate course of action to achieve the pre-established goals. In other words, it is possible for changes to be incurred, for the forecasts not to be met or for the quality of the services to not meet the pre-established standards.
4. Finally, in the delivering stage, the main risks are given by material insufficiencies in the implementation of the project, such as lack of training on the part of the team members or lack of technical support. Also, it could be possible for the consumers to not be interested in the project, or for the organizing team to not learn from the mistakes it had made.
Aside these stages, risks can also occur at the level of individual tasks. At a generic level, the tasks evident in this project can be summarized as follows: authorization for the organization of the football match; logistics operations; planning; marketing; development and implementation and finally control and evaluation.
– the authorization stage should not consume any financial resources and would be completed within an estimated week. It reveals the risks of an inability to retrieve the authorization, which means that the organizers should solicit it in time so that they have the ability to make any required alterations
– the logistics tasks are expected to run expenditures of an estimated $3,000 and are expected to be completed within two weeks
– the planning tasks would consume an estimated $5,000 and their completion would require an approximate three weeks
– the marketing functions are designed to attract participants to the event and to promote the event itself and increase its credibility. It is approximated to consume $2,000 and to require two weeks for completion.
– the development and implementation stage would require minimum resource consumption as it is constructed on the resources previously invested.
– Finally, the control and evaluation stage would require an estimated week and would consume an approximate $1,000. The main risk at this stage is that of not observing the mistakes or not learning from them.
A Work Breakdown structure would be presented as follows:
The risk mitigation strategy is constructed based on the previously identified risks, in a means that the following recommendations address the risks:
1. It is necessary that the team organizing and managing the event be formed from professional planners who are skilled, experienced and objective and who will as such clearly identify the project needs, as well as assign the tasks, distribute responsibility and efficiently manage the resources.
2. It is of the utmost importance to recognize the uniqueness of the event and to treat it as such. In other words, it is useful to hire people with previous experience in football matches and charity events who can introduce elements of appeal to the participants, but who are also able to comprehend the necessities and offer adequate answers.
3. In order to ensure that each stage in the design process is constructed to reach the pre-established goals, it is vital to verify how each intermediate stage in the design supports the efficient development of the football match and/or how it supports the raising of funds.
4. It is important to efficiently identify and allocate the resources based on each particular need. The allocation of the resources has to be sufficient, but not wasteful; in other words, it has to be efficient.
5. Finally, in order to ensure that the entire project is uniform and presented as an integrated and fully functional element, it is of the utmost importance to organize all phases, tasks and responsibilities into a single process. Otherwise put, it is necessary to construct an environment in which the team members are trustworthy and function as a whole in order to attain a common goal.
References:
Gray, C.F., Larson, E.W., 2002, Project Management: The Managerial Process, 2nd Edition, McGraw-Hill / Irwin, ISBN 0072833483
Estimating Project Times and Costs, San Jose State University, http://www.cob.sjsu.edu/bentley_d/Fall%2007/Bus%20286%20Lecture%20Material/Ch%2005%20Estimating%20Time%20&%20Costs.ppt last accessed on May 12, 2010
Project Life Cycle — Project Cycle Management, Visitask, http://www.visitask.com/project-life-cycle.asp last accessed on May 12, 2010
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