Company X has held a New Year's Employee Party for has long as the company has been in existence. This year has been a good year and we wanted to ensure that we get as many employees to the party as we can. It was decided to use one of the team members from the project office as our risk officer for this event. To keep on top of the risks for the event, the risk officer has performed risk identification already and using the provided risk register has completed as much of the register as he/she can at this point.

review the following risk register and list out corrections which includes several discrepancies. Pleaselist at least 10 errors with an explanation as to why you believe the information is not correct. So that you know, there are at least 18 things that are not correct with this register. Please DO NOT concentrate on risk response strategies and their plans as most of them except for one are already pretty good. Look for obvious mistakes.

Frisk Identification Qualitative Rating Risk Response Ri Risk Risk Category Probabili Impact Score Strategy Response Detail Risk Owner NewYear's Ball is actually scheduled 3 weeks Keep current on weather forecast, Ensure that prior to NewYear's so to leave change to all expenses have associated refund policy for External 80%% 2.4 Mitigate weather. Plan for make-up date and Event Manager employee to celebrate with family. Weather communications plan if event needed to be can be a problem. cancelled at last minute due to snow storm Have a list of taxi company numbers and other Alcohol is available for purchase for entire event night as well as wine served with dinner 50% Mitigate services that can bring people home. Second 2 Security 0.5 option is to have a block of rooms reserved at Event Manager a local hotel. Planning for this dinner starts early after return Invitation late being sent will cause low from summer vacation, In the past, we have Admin 2 2 Accept attendance never had an issue with late inviations causing Event Manager an impact on attendance. We plan on continuing our planning in the same manner. Prizes are accumulated over the course of the Lack of sponsors for prizes Finance 2 3 6 Mitigate year from vendors, To potentially compensate for low vendor contributions, a fund of $5 000 Event Manager has been set aside as contingency for prizes. 5 Food allergies Food / Beverage 4 2 Accept Noted on invitations Event Manager Conflict with CEO's schedule makes it that Human Resources 1 2 3 she cannot attend Avoid Ensure that CEO's calendar is updated as early as possible to avoid any conflicts. Event Manager 7 Venue is having construction done around work with the venue to ensure that if 20% 2 time of event External 0.6 Mitigate construction is going to have an impact that a Event Manager second venue option is available for the event. Planning for entertainmnet should begin as Lead time to book evening entertainment early as possible after summer vacation to 8 leaves little room to find a replacement if Entertainment 3 3 9 Avoid eliminate the chance that entertainment option already booked somewhere else will not be available. If possible to further avoid, Event Manager try to book a year out relying on a good cancellation clause. We have insured in our review of all event New event planner has been hired for this planners during hiring that we were able to get 9 year's event. We have not worked with this Human Resources 3 Mitigate references and that the event planner chose Event Manager planner on such an event before. for this event had worked on events of this size before. We are introducing a small fee for guests this year as cost for the event is expected to be Ensuring that we have a communications plan 10 beyond the yearly allocated budget. This Finance Mitigate in place to explain the introduction of the fee Event Manager might impact attendance, perception and and what the fee is used for. Make it morale of employees. transparent and keep the fee to a minimum. Key Terms Risk Ranking: A priority list which is determined by the relative ranking of the risks (by their scores) within the project with the number one bell 3 3 6 9 Risk: The risk stated in a complete sentence which states the cause of the risk, the risk, and the effect that the Risk Category: Categorization of risks by area of project affected, source of risk or other useful category. Impact 23 2 Probability: The likelihood that a risk or opportunity will occur (on a scale from 0 to 3 with 3 being the highest). Impact: The impact of the risk on the project if the risk ocours (soale from 0 to 3 with 3 being the highest). Risk Score: Determined by multiplying probability and impact (scale from 0 to 3). 2 3 Risk Response: The action which is to be taken if this risk ocours. Med High Trigger: Something which indicates that a risk is about to ocour or has already occured. Low 3 Risk Owner: The person who the project manager assigns to watch for triggers. and manage the risk response if the risk occurs. Probability