Create a risk probability attachment. For this assignment you will need to create a list of at least ten identified risks from your project. After
Assignment instructions located in assignment 7 Create a risk probability attachment. Template to complete assignment is located in risk matrix attachment.
All other attachments are supporting documents for the assignment.
Assignment 7 is a display of your knowledge around applying the risk matrix to your risks for your project.
For this assignment you will need to create a list of at least ten identified risks from your project. After you have completed your list, you will then create a risk matrix to show the probability and impact assessment.
Please use clear if/then statements, as discussed. The if/then statements should cover the risk and the impact to the project. This will help with determining the probability and the impact levels during the assessment.
A template has been provided and the following should be covered for each of the identified ten risks:
· Risk ID: a number that indicates the risk
· Risk Statement: a clear if/then statement
· Probability: The probability the risk will occur (Can use high, medium, low or numeric system).
· Impact: The impact on the project because of the risk (Can use high, medium, low or numeric system).
· Overall Score: This is the final ranking score to determine where each risk falls among all other risks.
Once the risks have been assessed, you must prioritize the risks in order of importance. This is helpful in the real world, for the next step and it is an important understanding to have when dealing with risks.
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PROJECT RISK MATRIX
Project Title:
Date Prepared:
RISK ID |
RISK STATEMENT |
PROBABILITY |
IMPACT |
OVERALL SCORE |
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Company Picnic
Rosa King
MGT-312-OL01
Professor Cleveland
Company Picnic
Introduction:
I have chosen this annual picnic plan for the organization because I have some experience in arranging picnics and hangout events for different organizations. The budget for this project is 100,000, and a minimum of 350 people are expected to attend this annual picnic. There will be many phases in this project, and we will discuss everything related to this project. (Mavi, 2018)
Theme:
This pandemic situation had a negative impact on most of us. So, the theme should be following healthy habits and healthy eating. At the picnic, we will encourage the participants to do healthy activities and eat healthy food. This theme will help the company introduce a culture among its employees to maintain a work-life balance as healthy activities will lead to a happy mind.
Date:
The date I have selected whenever the long weekend holiday is happening in the next six months. Memorial Day, May 30, is the best in the next six months as it's a public holiday on Monday because of Memorial Day, in line with Saturday and Sunday. So, Sunday, May 29 will be the date for this Picnic event.
Location:
The most suitable location for this picnic event will be a resort beside the lake where water sports activities can be done and a lot of playing space for the kids as well. The natural environment is also very important. The location should be far away from the hustle of city life. A peaceful environment will boost the modes of the participants as well.
Adequate Entertainment:
A lot of sports activities and competitions have been planned for the participant, and water sports activities are for the adults and running, and entertainment competitions are planned for the kids accompanying their parents. This will make the event a perfect family outing.
Menu:
The Menu will consist of mainly healthy options to promote our healthy theme for the event. Most of the food consists of healthy products like fruits and keto-related dishes on the menu, but there will be Bar BQ for the adults as well as Bar BQ is considered an essential part of family gatherings or picnic events.
Employee Voting:
Keeping in mind the theme of the whole event, there will be voting for the menu options, and all of the employees are encouraged to take part in the voting.
Games and Activities:
As this location is a resort beside the lake, water sports activities like boating, jet ski, blow-and-go parachute, and other activities and for the kids, the activities should include running competition, sports like football and stickball.
Party Gifts:
Party gifts will be a very positive addition to this event as they will motivate the families of the employees to participate in the next events as well. Small prizes for the kids who win different competitions of kids like race and climbing competitions and there will be some gifts for those who lost the competition as well. And for the adults, there will be a participation gift for everyone, and employees who participate with families will be given a decoration piece for their homes, and those who participate alone will be given a wristwatch or a shirt as a participation gift. (Mavi, 2018)
Attendance rate of management:
The attendance rate of management is low, so they will be encouraged more than any other department to participate in this annual picnic event, and they will be given some relaxation from work to motivate them.
Equipment and marketing:
Lakeside resorts have all the equipment available at their disposal, so all the equipment needed for all the activities can be rented on the spot from the resort, and marketing material for the event will be good and catchy flyers which will be delivered to all the employees.
Budget
Location:
The first and the most consuming part of this whole project is the location, and booking a good and peaceful resort with all the facilities will be expensive. The total budget of 100,000, and at least 50 percent of that budget will be invested in location. So, 50,000 will be allocated to the location.
Menu:
The second part, while distributing the budget, will go the Menu and healthy food along with BBQ will cost more money, but the budget is limited to 100,000 with a 5% contingency fund. So, the budget allocation for the food will be 30,000 as the expected number of guests will be around 350. (Ansah, 2018)
Activities:
Most of the water sports activities will be paid under the resort budget as all of these activities will be included in the budget of the resort, and some other activities like kid's competitions will cost around 5,000. Other Adult activities and competitions will also cost around 5,0000, and the equipment rented for the event will cost around 5,000 as well, so the remaining budget is 5,000 apart from the contingency fund. (Ploder, 2020)
Gifts:
So, 5,000 is our remaining budget, and we have to buy gifts and prizes for all the participants, who can cost around 15,000 to 20,000 dollars. Instead of buying reasonable products as gifts for the employees, because of the shortage of the budget, we will be forced to buy cheap products as gifts for the employees.
Conclusion:
The number of employees who are expected to participate in this event is 350 out of 500, and the management team is more than encouraged to participate in this event. If they participate with full capacity, then it will be very difficult for the project manager to run this project in this limited budget. The event and the requirements can not be fulfilled in this budget as the shortfall will be around 10,000 dollars to 20,000. So, to complete this project successfully, the budget should be increased up to 120,000, and the contingency fund should be at 10% of the total budget.
References
Mavi, R. K., & Standing, C. (2018). Critical success factors of sustainable project management in construction: A fuzzy DEMATEL-ANP approach. Journal of cleaner production, 194, 751-765.
Ansah, R. H., & Sorooshian, S. (2018). 4P delays in project management. Engineering, Construction, and Architectural Management.
Ploder, C., Dilger, T., & Bernsteiner, R. (2020). A Framework to Combine Corporate Budgeting with Agile Project Management. In Software Engineering (Workshops).
Liberatore, M. J., & Titus, G. J. (1983). The practice of management science in R&D project management. Management Science, 29(8), 962-974.
Shujat, S. S. (2011). Effects of Recreational and Entertainment Activities on Employees Job Satisfaction: A Case Study. IBT Journal of Business Studies (JBS), 7(1).
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Company picnic
Theme: Healthy Habits and Healthy Eating
Location: North Beach Resort & Villas
Date: May 29
Rosa King
Work Breakdown Structure
Healthy Habits and healthy eating
Safety preparation
Games and Activities
Running
Employee Voting
Football
Stickball
Kids
Adults
Boating
Jet ski
blow-and-go parachute
Trash bags
Sun screen
Bug spray
Body wipes
Water
Food
Fruits
Mango
Apple
dishes
Bar BQ
Rainbow Gelatins Cubes
Tomato-Melon chicken Salad
Confetti Snack Mix
Frosted Lemon-Ricotta cookies
Party Gifts
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Rosa King
MGT-312-OL01
Professor Jordan Cleveland
April 10, 2022
Company Picnic AON Diagram
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1
Rosa King
MGT-312-OL01
Professor Jordan Cleveland
April 10, 2022
Company Picnic Schedule Baseline
Company Picnic Activities Table
Activity No. |
Activities |
Sub-tasks |
1. |
Safety preparation |
Water, Bug spray, Sun screen, Body wipes, and Trash bags |
2. |
Games and Activities |
Adults: Boating, Jet ski, Blow and go parachute |
Kids: Football, running, and stickball |
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3. |
Employee voting |
Food; Fruits and Dishes |
Fruits: Apple, Mango |
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Dishes: Bar BQ, Rainbow Gelatins Cubes, Tomato-Melon chicken Salad, Confetti Snack Mix, and Frosted Lemon-Ricotta cookies |
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4. |
Party gifts |
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Company Picnic Estimated Costs
Rosa King
MGT-312
Saint Leo University
Introduction:
To calculate the total estimated cost of the whole Picnic, we need to look at the start of the Picnic till the end of the Picnic. And consider every small detail to estimate the cost of the Picnic accurately. The estimated cost of the project depends on the total number of employees who are coming to the Picnic. The more participants, the more it will cost.
Work Package Estimate:
It includes the estimated cost of safety preparation, games and activities, employee voting, and party gifts.
Safety preparation: safety preparation includes water, bug spray, sunblock, body wipes, and trash bags. Water is the most important element, and it should be bought in good quantity because after the sports activities the participants will need a good amount of water and the estimated cost of water will be 500 dollars. Bug spray is the need of the time as the Picnic will be held at the lake in a forest where there will be a huge quantity of bugs, so bug spray should be bought in bulk quantity, and the estimated cost will be 600 dollars. Sunblock cream is also important, and the estimated cost of the sunblock will be 700 dollars. Body wipes will cost around 300 dollars/ As there will be around 350 participants so, there will be a good amount of trash, and to collect that trash, we need around 30 trash bags which will cost us around 30 dollars.
Games and activities: For games and activities for both adults and kids we need some equipment and for adults' water sports equipment will be needed which will cost around 5000 dollars, and for kid's games activities of football and stickball the sports equipment will cost around 1000 dollars.
Food: After the employees vote on food items, the cooking equipment and material we need are dishes, Bar BQ, and sauces with vegetables and fruits as well as cookies for kids, and the whole food section of the Picnic will cost around 30000 dollars.
Party gifts: After the Picnic finishes the management has decided to give its employees some part gifts and the gift will cost around 7000 dollars.
Estimates for Supplies or Materials:
The estimated cost for all the supplies and materials for 350 employees who are participating in the picnic events can go up to 70,000, including all the food and all the food items bought by the management, including party gifts.
Estimates for Vendors and Procurement activity:
All the procurement activities are done by the staff hired for the Picnic, and vendors are needed to provide the equipment for activities. The total estimated cost for the vendors and procurement activities will be around 20,000 dollars.
Estimated for Risk or Unknown activities:
The estimated cost for risk should be between 5000 dollars to 10000 dollars as an emergency event can happen because a lot of employees are involved in this Picnic, and the management should make an emergency fund to pay for any risk. The risk of injury or breaking down of any equipment is medium to high, so the estimated cost for risk should be high, and the good estimate will be 10000 dollars.
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STAKEHOLDER MANAGEMENT TEMPLATE
Project Title: Company Picnic Date Prepared: April 29, 2022
Role |
Influence/Power |
Impact Assessment |
Strategies |
Chief Executive Officer |
High |
· Major corporate decisions · Management of company resources · Management of company risks · A liaison for the board of directors |
· A vision for the clear demarcation of interest · Receptiveness to the other employees of the companies · Adaptability to the changing climate of business · Motivation to pursue the project in a skillful manner |
Security Manager |
High |
· Finishing the General Data Protection Regulation compliant checkouts · A potent security posture to protect company assets · Recruiting, training, and supervising security officers and guards |
· Identifying key assets that need protection · Constant effort to maintain and upgrade the implementing policies · Strategic Diffusion of security responsibilities among staff members |
Senior Developer |
Low |
· Development duties of coding and web development · Manage junior developers · Handling overseas projects |
· Fast Problem-Solving Abilities · Effective Testing Models · Putting together Design Patterns and coding techniques |
Accountant |
Low |
· Preparing accounts and tax returns · Monitoring budgets and spending · Auditing and analyzing financial performance |
· Setting financial goals to fulfill · Assessing risks · Strategy for mergers · Strategy for acquisitions |
Call center Agents |
Low |
· Creative approach to problem-solving · Open to communication creating a healthy environment · Keeping the team integrated through reinforcing attitudes |
· Regular feedback on employee attitudes · Coaching culture approaches · Use of good monitoring tools |
I.T. Support Team |
Low |
· Sensitivity to the needs of the clients · A flexible approach toward assignments · Creating a collaborative environment |
· Optimal technological solutions · Roadmap for every tactic · Business Alignment |
Project Manager |
High |
· Timely management of the project · Achieving the task within budget · Maintain the high standards of projects |
· Maintaining clarity and cohesion between objectives and practical implementation of strategies · Task Prioritization · Opposing multi-tasking approaches |
Customer |
High |
· Evaluation of the ripple effects of customer behavior · Behavior towards products and policies · Effect on employees |
· Articulation of experience and value · Understanding customer needs · Customer engagement tactics |
Sales Executive |
Low |
· Educating customers regarding products · Dealing with tough customer questions · Establish potential obstacles |
· Powerful value proposition · Key performance indicators · Consultative selling |
Marketing Executive |
High |
· Increasing brand awareness · Increase in market shares · Managing the marketing department’s budget |
· Prioritizing online content · Social Media campaign · Cost-effective budget for marketing tactics |
Director of Content Marketing |
High |
· Assigning topics to freelancers and writers · Producing quality content for effective marketing · Reviewing and updating old assets |
· Attracting and engaging the audience · Sharing relevant articles and promotional videos · Creating brand awareness |
COMMUNICATION MANAGEMENT TEMPLATE
Project Title: |
Company Picnic |
Date Prepared: |
April 29, 2022 |
Message |
Audience |
Method |
Frequency |
Sender |
All company proceedings including project progress and financial status |
CEO |
Emails and Verbal updates |
Weekly |
Project Manager |
Technical specifications and hardware requirements. Live dates |
I.T. Support Team |
Meetings and weekly updates |
Depending upon the startup launch |
Project Manager |
New features for users so marketing can initiate website blogs |
marketing manager |
Product Brief and meetings |
Specific dates |
Change manager |
Updates on new features on online facets of the company |
Senior Developer |
Email and Website |
Specific Dates |
Change manager |
High-Level information, new features, and training update |
Project Manager |
Email and verbal updates |
Monthly basis |
Project or Change Manager |
Information regarding new features and training dates |
All stakeholders |
Email and Verbal Updates |
Monthly to weekly |
Project Manager |
Project details of every team for keeping tabs on the progress |
Project Manager |
Personal check-in meetings, email notifications from the software |
Daily |
All subordinate teams |
Review project status and potential issues and delays in it |
Chief Executive Officer |
Reports and meetings |
Daily |
Project Manager |
Discussing financial expenditures and budget details |
Accountant |
Face to face or presentation |
Bi-weekly |
CFO |
Discussing the new and rising risks for the project |
Chief Executive Officer |
Face to face or presentation |
Bi-weekly |
CEO |
Task reminders and schedule updates |
All stakeholders |
|
Daily |
Project Manager |
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