Comprehensive Risk Analysis and Management: AFLX Event in Hong Kong

This report focuses on identifying and analyzing various risks associated with the AFLX event in Hong Kong, held in November 2019. It identifies ten distinct risk categories, including resource management, environmental concerns, political risks, communication issues, facility risks, safety and security concerns, operational challenges, contractual agreements, and schedule management. The report utilizes a risk management matrix, adhering to ISO 31000 standards, to assess the probability, likelihood, and impact of each risk, along with proposed contingency plans. The report also outlines the roles and responsibilities of key stakeholders such as project managers, operational managers, and event managers. Furthermore, it categorizes risks into strategic, compliance, operational, financial, and reputational aspects. The conclusion summarizes the importance of comprehensive risk assessment and mitigation strategies for the successful execution of the AFLX event, emphasizing the roles of various stakeholders and the significance of proactive risk management.

Running head: AUSTRALIAN FOOTBALL LEAGUE (AFL)
Australian Football League (AFL)
Name of the Student
Name of the University
Author Note

2AUSTRALIAN FOOTBALL LEAGUE (AFL)
Table of Contents
Introduction....................................................................................................................3
Identification of 10 risks................................................................................................3
Risk Management Matrix...............................................................................................4
Stakeholders of the project.............................................................................................6
Risk Categories..............................................................................................................7
Conclusion......................................................................................................................8

3AUSTRALIAN FOOTBALL LEAGUE (AFL)
Introduction
The notable determination of this paper is to focus on identification of 10
different categories of risks associated with AFLX event in Hong Kong in November
2019. The risk management matrix will be considering the principals of international
standard ISO: 31000. The different categories of risks associated with each
stakeholder of this project will be included in the matrix.
Identification of 10 risks
There are different categories of risks associated with this event such as the
followings:
 Resource management risks
 Environmental concerns.
 Political risks.
 Communication risks.
 Facility risks.
 Safety risks.
 Security risks.
 Operational risks.
 Contractual agreement of the stakeholders.
 Schedule Management risks.

Running head: AUSTRALIAN FOOTBALL LEAGUE (AFL)
Risk Management Matrix
Risks Explanation Risk
Owner
Probability
(1-5)
Likeli
hood
(1-5)
Impact
(1-5)
Score Contingency
plan
Cell
number
Resource
Managem
ent (R1)
Management of
each of the
available
resources are very
much required to
finish off the
project within the
estimated time.
Project
Manag
er
2 2 3 6 Resource
management
plan
C3
Environm
ental
concerns
(R2)
Adverse
environmental
conditions like
earthquakes can
have a huge
impact on the
business.
Project
Manag
er
2 3 2 4 Selection of
the
appropriate
date of the
B2
Political
risks (R3)
Maintaining of
foreign policy is
the most
significant
political risks of
this project
Operati
onal
manage
r
1 2 2 2 Understandin
g the current
political
conditions
B2
Communi
cation
risks (R4)
There are lot of
communication
issues associate
with each of the
stakeholders
working on this
project.
Project
manage
r
3 3 3 9 Maintaining
good
environment
al conditions
B3
Facility
risks (R5)
The facility risks
of this project
includes the
ethical
considerations,
vendor
management.
Facility
manage
r
2 4 3 6 Identification
infrastructura
l issue
B4
Safety
risks (R6)
Maintaining the
safety and
security of each of
the stakeholders
associated with
Operati
onal
manage
r
1 4 3 3 Maintaining
safety
protocols for
each of the
stakeholders
B4

5AUSTRALIAN FOOTBALL LEAGUE (AFL)
this project is one
of the most
significant risk of
this project.
of this
project.
Security
risks (R7)
Maintaining the
security of the
financial
statements of the
projects and other
essential
documents are the
prime risks
associated with
this project.
Project
manage
r
4 3 4 16 Use of cloud
servers can
be very much
significant to
maintain the
security of
the essential
business data
of this
document.
B3
Operation
al risks
(R8)
The other risks
associated with
this project is the
identification of
performance of
the stakeholders
of this project.
Operati
onal
manage
r
3 2 3 9 Performance
evaluation
tasks can be
very much
significant in
order to
maintain
high quality
standard in
this project.
C2
Contractu
al
agreement
s (R9)
Roles and
responsibilities of
the external
stakeholders of
this project can be
a huge source of
concern.
Project
manage
r
2 3 3 6 Non-
disclosure
agreements
and
deployment
of digital
signature can
be very much
useful to
maintain a
good
relationship
among most
of the
stakeholders
of the
business.
C3
Schedule
managem
ent (R10)
Managing the
schedule of the
project is the
other concern of
this project.
Project
manage
r
4 4 2 8 Maintaining
and
following
Gnatt chart
can be very
much
C4

6AUSTRALIAN FOOTBALL LEAGUE (AFL)
significant in
order to
manage each
of activities
of this
project.
Table 1: Risk management matrix of this project
(Source: Created by the author)
Risk Identification D (Certain) C (Likely) B (Moderate) A (Unlikely)
5 (Fatal)
4 (Major) R10 R5, R6
3 (Lost Time) R1, R9 R4, R7
2 (Minor) R8 R2, R3
1 (Trivial)
Stakeholders of the project
The different categories of stakeholders who will be involved in this project
are described in the following table.
Stakeholders Category Responsibility
Project Manager Internal Each activity of this project will be
managed in an organized manner using
the project manager.
Operational Manager Internal Most of the operations in terms of
identification of the performance of

7AUSTRALIAN FOOTBALL LEAGUE (AFL)
each of the stakeholders associated with
this project.
Floor Manager Internal All the complications of this project in
terms of the managing the availability
of the resources.
Event Manager External All the activities of this event starting
from the planning phase to project
closure phase will be managed by the
event manner of this project.
Sub-contractor External The role of the subcontractor can be
very much significant in order to main
the contractual agreements between
each of the stakeholders of this project.
Suppliers of raw
materials
External The raw materials required in project in
terms of the project scheduling
software, catering materials used in this
project
Table 2: Role of each of the stakeholders of this project
(Source: Created by the author)
Risk Categories
The different categories of risks which has to be considered in this project are
as followings:

8AUSTRALIAN FOOTBALL LEAGUE (AFL)
 Strategic risk: The strategies created by the operational manager and the
project manager is included in this category of risks
 Compliance risk: Maintenance of industrial standards are prime compliance
risks of this event.
 Operational risk: The productivity of the project team members are the other
significant criteria of operational risk.
 Financial risk: The increase in price of raw materials, increase in price of
human resources and project scheduling software are included in the financial
risks of this project.
 Reputational risk: The productivity of the supplier and subcontractors are
considered in among the reputational risks.
Conclusion
The paper helps in understanding the different categories of risks associate
with the AFLX event which is scheduled to happen in the month of November 2019.
The different categories of risks are communication risks, environmental risks, facility
risks, security risks and operational risks. The risk management matrix which is
discussed in this paper considered ISO 31000 helped in understanding the probability,
likelihood ad the impact of each of the identified risks of this project along with the
risk mitigation procedure of each of the identified risks. The owner of each of the
identified risks can also be understood from the tabular description. The paper also
helps in focussing on the roles and responsibilities of each of the stakeholders
involved in this project such as the project manager and operational manager. The
paper concludes with different categories of risks associated with this sporting event

9AUSTRALIAN FOOTBALL LEAGUE (AFL)
like strategic risks which can occurred due to the inaccurate decision making of the
project and project managers and operational risk which might occur due to the
inconsistency of the project team members. The paper also helps in understanding that
operation of the suppliers and sub-contractors can lead to reputational risk in this
event.

10AUSTRALIAN FOOTBALL LEAGUE (AFL)
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