Risk Management Plan for Hosting a Campus Event

Running head: RISK MANAGEMENT PLAN
Risk management plan
Name of the Student
Name of the University

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RISK MANAGEMENT PLAN
Table of Contents
1. Introduction..................................................................................................................................3
1.1 Purpose of Risk Management Plan........................................................................................3
2. Risk management procedure........................................................................................................3
2.1 Risk identification..................................................................................................................3
2.2 Risk Analysis.........................................................................................................................3
2.3 Risk monitoring and controlling............................................................................................4
References........................................................................................................................................8

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RISK MANAGEMENT PLAN
1. Introduction
1.1 Purpose of Risk Management Plan
This risk management plan has been focused on hosting a campus event. This plan help
in identifying all risks involved in this project. Possible analysis of the risk has been done in this
plan. Security has been main focus in this project. The budget allocated for this entire project has
been $20,000.
2. Risk management procedure
2.1 Risk identification
Risk identification is process of identifying risks in the project. In this event, security of
audience have been the main risk involved. Alcohol will be included in the event as a drink.
Therefore, this has been major risk of the event. Risks have been depended on severity and
impact in the project. Control strategies have been another risk in the vent management. The
project team has been responsible for managing risks and creating this risk management plan
(Wolke, 2017). Noise and air pollution has been another problem to the society. The project
leader have to control these risks properly to successfully complete the project.
2.2 Risk Analysis
Risk analysis include all risks and possible outcomes of the project. It include two types
including qualitative and quantitative risk analysis. Qualitative risk analysis include Probability
and Impact. Probability include High, Medium and low category (Kerzner & Kerzner, 2017).
Impact of the risk include high impact, medium impact and low impact. Both can be analyzed by
using Risk severity matrix that include relation between impact and probability. In this case,