Question
It is spring and your CEO Elizabeth Johnston has decided to tie the knot and get married once again. Liz wants the wedding to be
It is spring and your CEO Elizabeth Johnston has decided to tie the knot and get married once again. Liz wants the wedding to be a great success. The wedding is to take place outdoors which is on 10 acres of landscaped lawns and gardens in Beverly Hills, California. She has assigned YOU as the executive who is responsible for the events that take place on the day of the wedding. YOU are not responsible for the events that take place prior to and after the wedding. YOU are not responsible for the prenuptial agreement, purchasing the wedding rings, inviting the guests, or arranging for the honeymoon. YOU are responsible for arranging all the events that take place on the day of the wedding.
These include making arrangements for the following:
Who is going to officiate?
Wedding music during the ceremony
Catering a sit-down dinner after the wedding
Main wedding cake
Providing alcoholic and non-alcoholic drinks in all areas
Dance music after the wedding
Small gift for each of the guests
Larger gift for each of the members of the wedding party
Special transportation for distinguished guests:
-President of the United States
-Queen Elizabeth II of Great Britain
-President Putin of Russia
-Former President Jimmy Carter
-Former President Gerald Ford
-Donald Trump
-14 United States Senators
-114 United States Congressmen
Perimeter security from paparazzi
Internal security for unruly guests
Air security
Parking lots
Emergency medical staff
Tasks to be performed
- Risk Identification
Document all possible risks to the event in list form even if they seem funny. Do not list risks that are not within the scope of this project. Risks that should be excluded are risks that occur off the wedding property or risks that take place before or after the wedding day.
When all of the risks have been listed, you must then evaluate the risks listed. Both the probability and the impact of each risk are to be evaluated. The impact or the probability of each risk can be evaluated on a scale of 0 to 10. A value of 0 means that there is either no impact or a zero probability for the risk. A value of 10 means that the probability for the risk is 100%. Risks that have an impact or probability of 0 are insignificant and can be eliminated from further consideration. Risks that have a probability of 10 are a certainty and should be included the top risks.
Risk | Probability | Impact | Total |
|---|---|---|---|
It could rain during the wedding ceremony or reception | 5 | 5 | 5 |
- Ranking all identified Risks
Looking over the list of identified risks and their severity, mark the rank of the top 20 highest severity risks.
For these top 20 highest severity risk determine what you need to do for them from a risk strategy perspective (Risk avoidance, Risk acceptance and sharing, Risk mitigation, Risk transfer)
Consider mitigation strategies of reducing the probability or the impact or both.
Transfer and avoidance strategies can also be used.
Each risk should have an action plan associated with the risk in case it occurs.
Example
Risk | Probability | Impact | Total | Risk Strategy | Action Plan | |
|---|---|---|---|---|---|---|
1 | It could rain during the wedding ceremony or reception | 5 | 5 | 5 | Risk Avoidance | Investigate alternative indoor venue to avoid the risk of weather during the ceremony or reception. |
2 | ||||||
3 | ||||||
4 | ||||||
5 | ||||||
6 | ||||||
7 | ||||||
8 | ||||||
9 | ||||||
10 |
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Introduction To Health Care Management
Authors: Sharon B. Buchbinder, Nancy H. Shanks
3rd Edition
128408101X, 9781284081015
