Xsu Spring Concert

Case 2 XSU Spring Concert. lay on the line Identification Firstly, we brush off state that, as with most ensures, there be several fortunes that occur when it comes to the execution of this spring concert. To ready the encounters more easily viewable, it is preferable to divide the risks into different sections and via that use the Risk Breakdown Structure, (RBS). (p. 214) There are four general categories that the risks are divided into Technical, External, Organizational and Project Management. These risks are divided into more particular subcategories, which all of them rear end make or break the project.First of all the XSU entertainment committee has to get permissions and approvals from the city and XSU to be able to go through with the concert. There will be requirements that needs following during the concert as well. Regarding the good category, some main(prenominal) risks are that the electricity and the sound system will be functioning, the constructing of t he stage will go as planned and that there will be large shoes for restroom facilities for 10 000 visitors and parking lots for 1000 cars. The stage-building depends on capable work force with demand skills.There king be security issues by the stage or in the secluded beer-garden, which might place upright if it gets too crowded and that would be disastrous as Hasta Weekend has a history of fatalities. When it comes to the external risk category there are some factors that the committee really cant affect, for example the die hard can make this outdoor concert a hit or a disaster. There are a lot of sub-contractors involved, as well as vendors and artist. This demands many contracts, which can turn out wrong, and talk issues can emerge.If the committee cant sign a big artist to this eight-hour concert, there might be a huge loss of money, as there wont be enough visitors, and result in a bad reputation. That might also be a reaction to the emergence of not finding sufficient sponsors or suppliers. The risk of shortage of funds will impede the inaugural of the whole project, therefore the gathering of funds and signing of sponsors has high priority. The project team needs to work and dispense necessary workforce to find vendors, artist, sponsors etcetera and by that minimize the risk.The project has an upper- make up ones mind regarding the expenses, which is $ 50,000. Exceeding this limit is a risk per se and would definitely hurt the project. Furthermore, the risks of not being finished with certain milestones by the appointed deadlines can cause rescheduling and excess costs. To keep the deadlines good communication and coordination is essential in this project management. Mistakes in the planning can easily be solved by good communication and coordination throughout the whole organization. Consequently, the risk of bad communication, bad control and bad coordination can affect the project negatively.To conclude, the main risks that we have identif ied and have highlighted in our analysis are city permissions, technical necessities, funding, coordination, communication and the weather. 3. Risk Response Development to develop actions to reduce the risks damages by developing a strategy and fatality plan. Risk Response Development The risk response outgrowths purpose is to reduce risks damage through the development of action strategies and an emergency plan. Different responses to the risks are identified and assessed.This can take the form of a risk response matrix and a project communication plan. With the risks identified the committee can transfer the technical risk for example via outsourcing of the stage construction. Furthermore, the technical risks can be reduced by testing the materials in the beginning the concert. By adding more artists to a back up list, the risk of lack of artists will be travel and the impact of the risk decreased. The risk of shortage of funds can be mitigated by having pause forward plannin g and more detailed contracts with the sponsors.The sponsors might be keener on the project if they are wedded more freedom with the choice of spots at the concert and so forth. By being in time with the applying of approvals from the city the risk can be mitigated. Regarding the weather, it cant be affected, but precautions can be taken by covering the stage, beer garden and some certain areas. To keep deadlines, the committee can use time buffers and to keep the budget, a management reserve can be set up.