Weekly Graduation Report: Risk Management of Diversity Campaign

This document presents a weekly graduation report focusing on the risk management plan for a project aimed at planning and launching a cultural diversity awareness campaign within a company. The report identifies potential risks, categorizes them by type, and outlines potential responses and their priorities. Key risks include unexpected budget overruns due to research-related financial expenses, limited community engagement stemming from insufficient marketing activities, problems with volunteer sourcing, project delays due to schedule adherence issues, and a lack of training for project team members in managing culturally diverse activities. The report prioritizes the top three risks: budget overruns, project delays, and limited community engagement, detailing mitigation strategies such as proper budgeting, utilizing project management tools for scheduling, and increasing marketing efforts to enhance cultural diversity awareness. The document concludes with a list of references used in the risk assessment and planning process.

Running head: PROJECT MANAGEMENT
Weekly Graduation Report on Risk Management
Case Study: Plan and launch cultural diversity awareness campaign
Name of the Student:
Name of the University:

1PROJECT MANAGEMENT
Table of Contents
Weekly graduation report for Risk management plan.....................................................................2
Risk response for top three risks..................................................................................................4
References........................................................................................................................................5

2PROJECT MANAGEMENT
Weekly graduation report for Risk management plan
Fleming and Koppelman (2016) stated that the risk management plan can describe
process to identify assessment, analyze, manage as well as monitor the risks. The project team
members created a risk management plan to identify the risks related to plan and launch a
cultural diversity awareness campaign in the company. Below shows the weekly graduation
report for the risks in table format:
Risk
Identification
Type of
risk
Root cause Potential Response Response
Owner
Priority
The cost
performance index
(CPI) is over
budget of the
campaign plan due
to unexpected
expenses
Negative
risk
Unexpected
expenses
Research related to
all costs, review of
the budget on
monthly basis, search
for the additional
sponsor
Financial
Manager
1
Community is not
engaged as result
of limited cultural
diversity awareness
Negative
risk
Community is
not aware of
the campaign
and its benefits
Increase in the
marketing activities,
research efficiency
for the cultural
diversity campaign
and check quality for
the campaign
Marketing
Manager
3

3PROJECT MANAGEMENT
(Heagney, 2016).
Problems related to
sourcing of
volunteers
Negative
risk
The volunteers
are not
showing up.
Signing of binding
contracts and creating
a list with the
emerging contracts
Marketing
Manager
4
Delay in the project
plan, therefore the
campaign project
has low schedule
performance index
(CPI)
Negative
risk
The project
team is not
followed the
project
activities which
are scheduled.
Follow the project
schedule and use of
Project Software Tool
for scheduling the
project activities
followed by start and
end date
Project
Manager
2
Lack of training Opportunity
risk
The project
team members
have lack of
awareness of
the cultural
diversity.
Providing of training
to the project staffs
regarding handling of
project management
related activities
(Harrison & Lock,
2017)
Project
Manager
5

4PROJECT MANAGEMENT
Risk response for top three risks
Risk
Priority
Risk Identification Risk
Response
Mitigation Probability Impact Risk
Level
1 Likelihood of over
budget of the
campaign plan due
to unexpected
expenses
Mitigate There is
proper
budgeting
of the
project
activities.
Moderate Extreme High
risk
2 Delay in the project
plan
Mitigate There is
usage of
project
manageme
nt tool to
schedule
the project
plan.
Moderate Major Medium
3 Community is not
engaged as result of
limited cultural
diversity awareness
Accept There is
required to
increase in
the
marketing
Likely Major High

5PROJECT MANAGEMENT
activities.
References
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management.
Project Management Institute.
Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach.
Routledge.
Heagney, J. (2016). Fundamentals of project management. Amacom.