Project Management: Identifying and Mitigating Risks for XSU Spring Concert at Wahoo Stadium

Running head: PROJECT MANAGEMENT
PROJECT Management
Name of the Student
Name of the University
Author Note

1PROJECT MANAGEMENT
Table of Contents
Major risk of the project:............................................................................................................2
Variation in Milestones..........................................................................................................2
Budget Restrictions................................................................................................................2
Delivery of resources.............................................................................................................2
Stakeholders Satisfaction.......................................................................................................3
Setbacks: unexpected events..................................................................................................3
Risk assessment form:................................................................................................................3
Risk response matrix:.................................................................................................................6
References:.................................................................................................................................8

2PROJECT MANAGEMENT
Major risk of the project:
The objective of the project is to organize and execute the concert at Wahoo stadium.
However there are certain constrains applied to the project. Hence in order to effectively lead
the project it is important to find out the risks associated with the project. These risks might
be associated with the constraints related to the project.
These risks are identified in the following sections in details. The risk identified in the
following section has been divided into five major risk category including variation in
Milestones, Budget Restrictions, and delivery of resources, stakeholder satisfaction and
project setbacks. Each risk category has been further classified divided into different risk
events associated with the project of designing the XSU spring concert and execute it
successfully at the Wahoo stadium.
Variation in Milestones
 Permission and approvals for the concert not obtained before the due date as approved
 Singers not signed before the event as per the schedule
 Vendors contracts not secured before the assigned date
Budget Restrictions
 Variation in price of vendor contract and project is not executed as per the approved
budget
 Project ran out of budget due to insufficient project sponsor
Delivery of resources
 Vendor denies to deliver contract on the agreed date
 Signers not present on the concert day