TASK 2 DAN4016Risk Management Template

TASK 2
RISK MANAGEMENT
Case study
Asian Tsunami Cricket Benefit Match
Prepared by: Arun Ronanki

Position: Manager
Date: 13/09/2020
Version No.:1.01
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Table of Contents
1. Introduction ____ 3
2. Key objectives of the project risk management ____ 3
3. Key Stakeholders ____ 3
4. Identify Risks ____ 3
5. Tools and Techniques to identify risks ____ 4
6. Risk Register
6.1. Likelihood Scale ____ 4
6.2. Impact Scale ____ 5
6.3. Risk Matrix ____ 6
6.4. Risk Register ____ 7
7. Risk review process ____
8. Risk Responses ____
9. Update Risk Register ____
Appendix
2
1. Introduction
The project mainly describes about Asian tsunami benefit cricket match. It was conducted
due to due to a sooner earthquake happened in 26th of December in 2004 in Indonesia. the
international cricket community has launched an appeal with cricket is being a popular sport
it has combined with the India Sri Lanka and Bangladesh and several Sri Lankan players.
This match will be between a nation team and the rest of the world featuring as one of the
world's best players from India Pakistan New Zealand and Australia.
2. Key objectives of the project risk management
Firstly, it is having to identify the potential problems as they occur before Moreover the
mitigate risks are there to prevent them from occurring a deal with issues which the risk may
not trigger. As we know that sometimes the risks can be positive which can lead to an
opportunity to get the outcome from the negative risks and later when correcting it will be
more beneficial for the organisation.
3. Key Stakeholders
The key stakeholders where the international cricket community, The Asian cricket council,
the individual cricketing authorities in each of the countries, the international cricket players,
Melbourne cricket ground owners, and the television and media
4. Identify Risks
Risks Description
rain due to seasonal whether there should
be some range on the match day
lack of staff there would be probably another
tournament going on so will be not
enough staff to run the match
ticket prices are high as this is charity tournament there
would be high expectations of
collecting the money from the
sponsors
Individual cricket teams some cricket teams don’t have access
to play or unable to travel to their
respective country
3
5. Tools and Techniques to identify risks
1. Conducting workshops with project participants
in this technique we have to gather all the stakeholders for the upcoming match and conduct
a plan for making decisions.
2. Breakdown structure
The risk categories can be breakdown into different structures by using obvious tool the
managers can be easily find out where the risks can be solved and avoided.
3. SWOT Analysis
by SWOT analysis we can find out the strengths and weaknesses of the project and can
implement to find out where we can improve from the weakness and in the same way where
we can be more strong from the advantages.
6. Risk Register
6.1 L IKEL IHOOD S CAL E
Low 1 Profoundly improbable to happen; nonetheless, despite

everything should be observed as specific conditions could bring
about this hazard getting bound to happen during the project
Low 1 Improbable to happen, in light of current data, as the conditions
prone to trigger the hazard are additionally far-fetched to occur
Very 3 As we can see that the risk is very much common to it is clear
High that the risk will probably occur as a result
High 4 Can be occurred according to the project
High 5 It is likely to be created according to project so the risk can be
occurred according to result
6.2 IMPACT SCALE
4
Low 1 Irrelevant effect on the project. It is beyond the realm of
imagination to expect to gauge the effect on the task as it is
negligible
Very Low 2 Low effect on the project, for an instance 10% deflection in scope
in fixing end date of project
Low 3 The project can be measured on the effect of risk, for an instance
6% deflection in scope in fixing end date of project
High 4 Very huge impact on project, for an instance. 15% deflection in
scope in fixing end date of project
Very High5 Confirmed effect on the project, for an instance less than 15%
deflection in scope in fixing end date of project
5
6.3 RISK MATR IX : LIKELIHOOD X IMPACT = OVERAL L LEVEL
/RATI NG
LIKELIHOOD Very Low Low Risk Medium High Risk Very High
Risk Risk
SCALE Risk
IMPACT
1 3 4
SCALE 2 5
Very Low Risk 1
Very Low 1 Low 2 Low 3 Low 4 Medium 5
Low Risk 2
Low 2 Low 4 Medium 6 Medium 8 High 10
Medium Risk 3
Low 3 Medium 6 High 9 High 12 Very High
15
High Risk 4
Low 4 Medium 8 High 12 Very High Very High
16 20
Very High Risk
5
Medium 5 High 10 Very High Very High Very High
15 20 25
Overall Level/Rating:
0 – 1 = Very 2 – 4 = Low 5–8= 9 – 14 = High 15 – 25 = Very
Low Medium High
6
6.4. Risk Register
Risk Register
Rating
Impact
Impact
Rating
Likelihood
Likelihood
Risk Risk Description Mitigation
Strategy/Response
No#
Initial Residual
1 Seasonal Rains during 5 5 10 Accepted 3 4 12
tournament
2 Ill health of players 2 3 5 – Obtain reserved players 4 2 8
3 Tickets are too 1 2 3 -More marketing with offers 1 5 5

expensive or reduction of prices
4 Damage of property 2 5 7 -obtaining an insurance 2 4 8

during matches before start of match
5 Loss of sponsors 5 5 10 -Reduce the probability of 5 4 20

fees in sponsorship
6 Inconsistence of staff 2 1 3 -Signing a legal contract 2 3 6

with staff
7 Damage of property 1 2 3 -More surveillance and 1 1 2

during Race in the security
audience
7
7. Risk review process
1. Monitoring and controlling
This process includes discord it performance measurement analysis and status
meetings this all will be in the watch list and pride raised risks and this can be
useful for responding and treatment actions also, and assurance of the
appropriate controls and procedures will be clearly understood and strictly
followed
2. Reporting and communicating risks
The stake holders in the risk report will be given adequate risk management and
outcomes and expectations will be according to the project. The purpose of this
process is to inform the existing risks and avoid the surprises of unauthorised
actions. This process indicates the latest actions and treatments which will
include action plan and schedule progress, data reviews.
8. Risk Responses
The following are the sum responses where this can be used in the present
project
1. Avoid
In this project We have to change the plans in strategy according to the risks,
which are dealing with the current situation
2. Mitigate
Risks can be reduced by taking an action immediately for example asking all
the staff to sign an agreement that they will be on time and will be consistent
throughout the game.
3. Transfer
Risks can be transferred to the third party according to the current situation for
example to recover any damage in the match because of audience we can take
an insurance ahead of the match so that the properties can be cleared if there is
any damage or destruction
4. Enhance
This response is considered to be as a positive risk and the methodology can
view a finishing task early or under budget.
Student name:
DANwas downloaded by 100000790987680 from CourseHero.com on 01-08-2022 05:50:24 GMT -06:00
This study source
9. Update Risk Register
Impact
Rating
Rating
Likelihood
Likelihood
Impact
Risk Risk Description Mitigation
Strategy/Response
No#
Initial Residual
1 Seasonal Rains during 5 5 10 Accepted 3 4 12
tournament
2 Ill health of players 2 3 5 – Obtain reserved players 4 2 8
3 Tickets are too 1 2 3 -More marketing with offers 1 5 5

expensive or reduction of prices
4 Damage of property 2 5 7 -obtaining an insurance 2 4 8

during matches before start of match
5 Loss of sponsors 5 5 10 -Reduce the probability of 5 4 20

fees in sponsorship
6 Inconsistence of staff 2 1 3 -Signing a legal contract 2 3 6

with staff
7 Damage of property 1 2 3 -More surveillance and 1 1 2

during Race in the security
audience
Student name:
DANwas downloaded by 100000790987680 from CourseHero.com on 01-08-2022 05:50:24 GMT -06:00
This study source
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TASK 2

Prepared by: Arun Ronanki

Low 1 Profoundly improbable to happen; nonetheless, despite

6.2 IMPACT SCALE

3 Tickets are too 1 2 3 -More marketing with offers 1 5 5

4 Damage of property 2 5 7 -obtaining an insurance 2 4 8

5 Loss of sponsors 5 5 10 -Reduce the probability of 5 4 20

6 Inconsistence of staff 2 1 3 -Signing a legal contract 2 3 6

7 Damage of property 1 2 3 -More surveillance and 1 1 2

3 Tickets are too 1 2 3 -More marketing with offers 1 5 5

4 Damage of property 2 5 7 -obtaining an insurance 2 4 8

5 Loss of sponsors 5 5 10 -Reduce the probability of 5 4 20

6 Inconsistence of staff 2 1 3 -Signing a legal contract 2 3 6

7 Damage of property 1 2 3 -More surveillance and 1 1 2

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