Comprehensive Risk Management Plan for Campus Event Hosting

This report provides a comprehensive risk management plan for hosting a campus event with a budget of $20,000, focusing on identifying, analyzing, and controlling potential risks. The plan emphasizes security concerns, particularly related to the inclusion of alcohol, and addresses other risks such as noise and air pollution. It employs qualitative risk analysis, using a risk severity matrix to assess the probability and impact of identified risks, and proposes mitigation strategies, including backup venue arrangements, traffic control, noise level limits, food safety guidelines, additional parking, and enhanced security measures. The risk management procedure includes continuous monitoring and control throughout the project lifecycle, with assigned responsibilities, costs, and timelines for each mitigation action.

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

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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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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,

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RISK MANAGEMENT PLAN
security of the audience has been of high risk as alcohol will be served. Various health problems
risk can be there during the vent. Accidental casualties also may prevail during the event.
2.3 Risk monitoring and controlling
The risk level will be tracked and monitored properly throughput the life cycle of the
project. A list of project risk has been prepared for identifying the severity and impact of the list
with the help of risk severity matrix. As per risk level, possible strategies will be taken monitor
and mitigate those risks.

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RISK MANAGEMENT PLAN
Id Description of
Risk
(including any
identified
‘triggers’)
Impact on Project
(Identify
consequences 1)
Assessment of
Likelihood
Assessment of
Seriousness
Grade
(combined
Change Mitigation Actions
(Preventative or
Contingency)
Responsibility
for mitigation
action(s)
Cost Timeline
for
mitigation
action(s)
1 Venue not
available due to
extreme weather
condition
Uncertain
disturbance in the
event might occur
due to
geographical
changes.
2 2 2 Need to
arrange a
backup in
advances.
Having a strategy in
place for notifying
guests and personnel
of the venue change.
Event manager $50 40 days
2 There might be
accidental risk
with vehicles on
the event
site
It might cause
delay in the event
or even cancel the
event.
3 2 3 Maintaining
low traffic
speed limit on
venue.
Scheduling times
when vehicles will
be on venue and
include a
professional doctor
on venue.
Event manager $70 20 days
3 Noise pollution
get increase
affecting side
areas.
Nearby societies
might get affected
due to loud noise
of the event
3 3 3 Limiting
sound levels
in the event.
Ensuring that the
sound levels in the
event might not get
increased so that
side areas get
affected.
Project manager $50 20day
4 Food Poisoning
and other health
related problems
might occur in the
event.
Health risk might
cause injury to
audience.
4 3 4 Need to
follow food
guidelines
Ensuring food
vendors have current
trading format.
Event manager $100 30 days
5 Not enough
parking
It might create
traffic jam and
create chaos in the
public.
2 2 2 Provide free
bus services
Arranging additional
parking venues
Event manager $100 10 days
6 Security issues in
the event.
Lack of security
might create
vandalism among
public
5 5 5 Need to
change
beverage
counter.
Need to arrange
alcohol in a selective
limit to the
audience.
Event manager $100 50 days
7 Improper waste
management
might create
excess litter on
venue.
Poor venue
management and
bad smell might
create issues in the
event.
4 3 4 Need a proper
waste
management
strategy.
Provide additional
bins and Ì
Employ extra
cleaning staff
during and after
the event
Event manager $30 10 days
Table 1: Risk Register
(Source: Created by Author
1

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Severity
VERY
LOW
LO
W
MEDIU
M
HIG
H VERY
HIGH
Probability
Very
LOW
Low
1,5
Medium
2 3
High 4,7
Very
High 6

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Table 2: Risk severity Matrix
(Source: Created by Author)
Figure 1: Risk Break down structure
(Source: Created by Author)

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References
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Wolke, T. (2017). Risk Management. Walter de Gruyter GmbH & Co KG.