Share
Explore BrainMass

Assessing risk

Please see the attached file.

Attachments

Solution Preview

I have done an outline of the possible problems and any contingency plans I might think of. I will leave it to you to place them in a matrix you feel comfortable with and you may add, subtract, or change any of these ideas to fit your own ideas. There are also a myriad of other uncertainties and you may want to add your own. These should get you started and thinking about contingency plans.

REQUIREMENTS FOR THE COMPLETION OF THIS ASSIGNMENT
(a) Identify at least five different uncertainties that will be associated with this event. I would identify contingencies in the weather and the need to rent the appropriate size tent for the evening. This would be only if it is needed and only if the weatherperson can give the correct forecast. The second would be the availability of the talent/entertainment and if they will be contracted sufficiently to perform. The third was to make sure the taxis were there and available if ALL persons would like to use one. For a sit down dinner, will there be enough room for all in the manner which Mr. Crowe has asked for seating? Can it be done for the price? Keeping out unwanted guests or media will be a problem if they find out. And the need for security will be a problem since you must accommodate guests with little irritation and yet make sure no one brings uninvited guests as well. And finally and the most obvious, can one use the Opera House for such an event. The costs may also be very expensive for an entire evening and finding a compatible date.
(b) Assess the impact, likelihood, detection difficulty and likely timing of each of these uncertainties and set them out in a matrix.
Weather: the impact would be minimal since there is ...

Solution Summary

An exercise in defining possible risks and alternative outcomes for a specific event. Good template to follow for other risk assessment exercises.

$2.19