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Concept of Project Risk Management : Doc

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Added on  2020-01-28

Concept of Project Risk Management : Doc

   Added on 2020-01-28

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PROJECT MANAGMENT
Concept of Project Risk Management : Doc_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Introduction to Winter Hungama..........................................................................................11.2 Outlining objectives with their achievement.........................................................................11.3 Benefits attained ...................................................................................................................31.4 Scope of the project...............................................................................................................41.5 changes in plan with justification..........................................................................................51.6 Lessons learnt in the project..................................................................................................61.7 Risk Analysis 7RECOMMENDATION...................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
Concept of Project Risk Management : Doc_2
Illustration IndexIllustration 1: Time scale breakdown of events...............................................................................4
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INTRODUCTIONThe concept of PRM (Project Risk Management) entails about risks concerned with the projectsand developing some plan of action to manage them. The management of projects is necessarypart as it helps in reducing the risky factors from them. The major reason of risks generated inthe projects are the inclusion of a high degree of uncertainties. Therefore PRM becomes asignificant factor that helps in the management of projects. The EOP or End of Project refers tothe final documentation of the project. This stage reflects that the project carried out has nowcome to the final level because of which its official ending is conducted. The ProjectManagement is a discipline where different tasks of planning, performing and controlling ofwork is done so that the teams can be managed towards objectives to achieve set goals (Burke,2013). The process of project management starts with the generation of an idea and furtherprocesses for giving proper shape to the idea. The completion of entire projects is based on teamsworking for it and their skills, abilities and experience in the same field. The present report hasdiscussed on project management with the chosen case of Winter Hungama. This is a socialevent which is organised with the objective of celebrating festive season under Universitycampus. The report will be focussed on making objectives for the project and developing plans toaccomplish the pre-determined objectives (Caniëls and Bakens, 2012). TASK 11.1 Introduction to Winter HungamaFrom the case, it is evident that Winter Hungama which is a social event is scheduled to beorganised. This project will be arranged in University campus for about ten weeks. Variousevents and games will be organised along with quiz competition and debates. The topics that willbe mainly focussed on such events and quizzes include current affairs and topics. If nobody cananswers of questions asked in competition, it will be passed to the audience. Besides this,refreshments at the end of the game will also be served. For the entire event, a budget of £150 isdetermined. Moreover, the period of the event has also been decided which will be continuedfrom 12.30 to 2.30 pm. 1.2 Outlining objectives with their achievementThe project the at organising a social event under the name of Winter Hungama, in celebrationof the festive season. The event is the at University campus for a fixed period of 10 weeks.1
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