1.

EXECUTIVE SUMMARY

The free student career fair project is meant to offer services to all

the potential and former students of Conestoga College. The project will

entail both outdoor and indoor events where beverage, food and

entertainment would be offered during sessions. The project will allow

various employers to interact with employees thus interview them based

on their interests. On the same note, the project supports invitation of

various guest speakers based on college programs and employers. On

this note, the project is set to offer free services to persons who

voluntarily get the chance to join. Implementation of the project would

be prone to risks that would require management. In order to mitigate

such risks, this risk management plan aims to identify potential risks that

could inhibit the operation of the project, thus recommend possible

solutions. Furthermore, this project risk management plan will mention

changes since the previous review of the project.

2. SCOPE AND OBJECTIVES

2.1 Scope
 The Conestoga College Project risk management plan seeks to

manage all possible risks by focusing on both threats and opportunities

in a proactive manner. This way, the plan maximizes the likelihood of

the project to acquire its objectives in the course of maintaining the

acceptable levels of risk exposure.

The risk management plan also covers the entire activities

undertaken during the project’s lifetime. The project assumes that every

participant of the project is either an associate of Conestoga College or

an employer. The project would consume an average of $673,000 that

would include costs for operation. Costs such as hiring are included in

the average project cost. Moreover, the project is expected to take a

period of 81 months for effective implementation.

The risk process seeks to engage the entire team of project

stakeholders in the communication regarding potential project risks. On

this note, information regarding risks would be effectively

communicated to the project stakeholders in time. This will allow the

modification of strategies through which the risks would be mitigated.

The risk management plan will also help the project stakeholders to

focus on areas prone to risks.

2.2 Objectives

3. ATOM PROCESS APPLICATION

This risk management plan will utilize reduced ATOM process

based on the assertion that the project is medium sized. Reduced ATOM

process will specifically serve as a risk management technique that

incorporates reduction of financial results of a loss. This will encompass

a range of things such as reducing the severity of loss by reducing its

frequency thus reducing likeliness of overalling.

Furthermore, the risk management plan will employ quantitative

modeling technique to help determine which risks had potential impact

on the project. It is through such analysis that the project planners would

identify the specific strategies to counter possible challenges.

4. Analysis of top risks

4.1 Noise
 The free student career fair project promotes interaction among

employers and students with the help of event. The event project

involves the use of entertainment speakers that would as well be used to

address and make announcements. Utilization of such equipment would

result in noise pollution that would be dangerous to the public.

Jurisdictions protect such human rights by fining persons who engage in

noise pollution. As such, the project would be subjected to risk.

4.2 Theft of equipment

The fact that the event is hardly held at a single location reveals

that in most cases, the equipment would be transported. This is one way

through which most of the equipment would be exposed to theft risks.

The project budget reveals that the equipment will be expensive thus

losing such to theft would incur significant losses to the project

shareholders. Furthermore, theft of the project equipment is a possible

cause of project delay. Therefore, realizing such risks would help the

project planners create strategies through which theft risks would be

mitigated.
4.3 Social and political impacts

Social activities such as strikes are likely to impact the activities of

the event project. For instance, the event project would be conducted in

a violent location where public is engaging in strike activities. Such

activities are associated with disorder and malpractices that could result

in the destruction of the project equipment. On the same note, political

events such as rallies are likely to influence the operations of the event

project in two possible ways. Firstly, project participants would choose

to attend to such political rallies rather than attend to project work. As

such, political activities are prone to cause poor participant turnout. On

the other hand, political activities commonly associated with the use of

similar equipment would result in confusion.

4.4 Risk of moving heavy equipment during transportation

There are various physical risks associated with the transportation

of heavy event equipment. Such risks include potential damage to roads

and also injury of the event organizers. Both risks would limit the
effectiveness of the project based on the assertion that project schedule

hardly includes time wastage.

5. Analysis of risk tools and techniques

5.1 Root Cause Analysis

The root cause analysis serves as a systematic process

through which risks would be embedded in the event project. The

tool debates that good leadership is not only responsive but also

preventative. In the case of the free student career fair project, root

cause analysis technique would be utilized after the identification of the

previous phase of top risk analysis. On this note, the root cause analysis

seeks to focus on cause rather than symptoms. Utilization of this

technique would enable the project planners to develop a plan of

action through which potential risks would be mitigated.

5.2 SWOT analysis

SWOT technique would be applicable in the case of the

event project. Here, the project planners would be required to

start by identifying the threats to determine those related to the

project. The next procedure in the technique would involve listing

the weaknesses that could be improved in the event project. On

this note, positive risks would result from the identification of

strengths. On the other hand, identification of threats would be

associated with realization of negative risks.

5.4 Risk Assessment Template for IT

While the tool was developed for IT projects, it is applicable

in projects such as the free student career fair project. The tool

encourages listing of the risks in a given order thus allowing the reality

of a risk to be traced. One of the significant aspects of the risk

assessment template is that the spreadsheet has an in-built calculator that

estimates the likelihood of a risk. This would enable the event project

manager to determine the potential harm of risk thus prioritizing

responses. In the case of the free student career fair project, risk

assessment template would be utilized to realize the potential harm

associated with the previously identified risks.

5.5 Risk register

Risk register aims to further analyze the list of risks identified

by describing them. The risk register provides the required space

to explain the possible impacts of the project. In the case of the

free student career fair project, risk register would be utilized to

prioritize specific risks and develop appropriate resolutions. On this

note, the risk register would serve as a strategic tool to control potential

project risks. By gathering data from the identified risks, the tool

prevents the project from exceeding the previously planned budget.

Upon identifying the potential risks, it would be the responsibility

of the project planners to add details to the project management

software. This would enable efficient tracking of project risks in

real-time.

5.6. Probability and Impact Matrix

The probability and impact matrix would help the project planners

to prioritize risks thus preventing time wastage. Furthermore, the

technique would be helpful in terms of exhausting all the available

resources. In the case of the free student career fair project, the

technique would combine the impact scores of the risks and probability

of the risks. This way, each of the risk would be understood in a larger

context for the benefit of the project implementation phase.

5.7 Risk Data Quality Assessment

With this technique, project managers would utilize the data
for the risks already identified. In the case of free student career fair
project, the risk data quality assessment would enable the project
manager and the planners to embrace reliability, accuracy and the
integrity of risks related to the gathered information. For each of the
identified risks, the risk data assessment would require the project
planners to determine the extent of realizing the risks. It is through the
examination of parameters such as risk that accurate assessment would
be reached in the case of free student career fair project.
5.8 Brainstorming
In order to begin utilizing the brain storming procedure, the
project planners must assess the possible risks that are likely to
impact the project. The technique starts by reviewing the project
documentation through looking at the general historic data from
similar projects. On this note, the project planners of the free
student career fair project would be required to gather and analyze
details of similar projects. It is then that the project planners would
interview experts with the aim of realizing potential risks that would
impact the project.
6.0 Risk breakdown structure (RBS)
Below is a diagrammatic representation of the RBS for the
free student career fair project. It is through the analysis of the diagram
that the project planners would effectively analyze and evaluate all the
phases of implementing the project.
Risk map analysis
6.1 Analysis of roles and responsibilities

6.1.1 Sponsors

The project sponsors would be responsible for the provision of funds

through which the allocated budget would be determined. Furthermore,

project sponsors would help analyze possible risks and their solutions.

6.1.2 Project manager

In the case of the free student career fair project, the project manager

would be responsible for coordination the activities between the phases

involved. It is through the managerial role that the risks would be

foreseen thus mitigated accordingly. The manager would also help to

advise all activities of data gathering related to the project.

6.1.3 Risk champion

In the event project, the risk champion would be responsible for

maintaining the risk register. Quality of the risk data would also be

guaranteed by the risk champion.

6.1.4 Risk owner

In the event project, the risk owner would be responsible for developing

possible responses to risks assigned to the action owners. Furthermore,

the risk owner is responsible for monitoring the progress of the risk

responses by reporting to the risk champion.

6.1.5 Action owner

The action owner in the event project would be responsible for

implementation of the accepted actions regarding the strategies.

6.1.6. Project team member

Project team members are associated with active participation in the risk

process. Furthermore, the proactive identification and management of

risks would be supported by the project team members.

7.0 Conclusions and recommendations

As depicted in the above discussion, the success of the free student

career fair project is dependent on the participation of all the involved

parties. Moreover, the ability of the project manager to coordinate the

participants effectively would result in effective and efficient realization

of the potential risks that would impact the operation of the project.

For future sustainability, it is recommended that the project team

members should first work on their own before final phases of uniting to

come up with final decisions regarding project risks.

It is also recommended that the use computers should be utilized

for fast processing and manipulation of data. On the same note, use of

computers to analyze most of the data would minimize the occurrence of

errors in the project. The assertion is backed up by the fact that

computers are prone to data credibility and accuracy.

Finally, it is recommended that the project managers should

encourage the team members by using strategies such as brainstorming

to gibve the team memebrs easy time to deliver assigned tasks regarding
the event project. Moreover, the project manager should focus on

gathering external data relevant to the event project context with the aim

of relating possible risks and their solutions.