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Managing Risk

Project Managers must always be prepared to manage events that could seriously impact their ability to deliver a successful project to their customers. Sometimes these events are completely out of the Project Manager’s control, yet the Project Manager still has the responsibility to deliver a successful project. Managing these types of external events is at the center of risk management. In order to minimize or eliminate this type of risk, Project Managers generate contingency plans to keep the project moving forward.

For this part of the Course Project, you will put together a Contingency Plan for one of the areas where the project is most at risk. The Project Team feels the following areas are where the project could be most at risk for failure:

The Convention Center, where the events are scheduled to be held, could become unavailable because of a fire, flood, or even vandalism. The result would be attendees would have no accommodation for the event.

Travel could be disrupted because of storms or other bad weather preventing attendees from traveling to the convention.

Two or more of the keynote speakers could be unavailable to speak at the convention because of illness or other unforeseen events. The result is that the attendees not receive the knowledge and entertainment as advertised for the event.

In a paper that is a minimum of 5 pages long, clearly and concisely describe a Contingency Plan for each of the events listed above. Each Contingency Plan should address the following:

Describe the severity of the impact to the final project for each of the activities listed above.

Propose three action items that are intended to minimize the impact of the severity of the event. If there is a way to eliminate this risk, what would need to be done?

Based on your knowledge of the project and the data generated so far that applies to these high-risk factors, who would need to be informed of these potential changes and how would you inform them?

Your submission should follow the essentials of APA (i.e., cover page, double-spaced, 12 pt. font, reference section at the end, in-text citations, etc.).



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