Risk management and contingency

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Risk management Plan

Typesof risk: Extreme weather conditions

Arisk is described as an occurrence that has the possibility ofhappening and affect either positively or negatively a planned taskor project. In this case, the consideration is a conference that isplanned to take place in February at Manchester. In order toaccomplish the objectives of the conference it is significant toconduct an effective risk management plan to ensure that the plannedevents of the conference run as intended. Risk management is aprogressive activity that runs during the entire life of the project.Risk management plan for the conference intended will involve asequence of processes such as planning, identification, exploration,mitigation and control. These activities are usually customizedaccording to the type of risk anticipated. In this conference thetype of risk that is likely to affect the running of the conferenceis extreme weather conditions. This is an anticipated risk whoseimpact need to be evaluated and assessed to ensure that it does notalter that achievements of the conference objectives. The riskmanagement plan is summarized and outlined as shown in the tablebelow:

Type of risk

Status

Description of the risk

Likelihood that the risk will occur

Risk Impact

Risk Score

Risk Assignment

Risk Response plan

Extreme weather condition

Potential

Extreme weather conditions are expected in Manchester and will have a negative impact on the operations in the conference. Such weather conditions might affect the participation in the conference and the number of people attending the conference.

Moderate

Extreme weather conditions will affect the operations in the conference. It might also have a negative impact on the attendance to the conference.

6/10

The conference organizers

Acceptance and Mitigation

Contingencyplan

Thecontingency plan is a plan aimed at reducing the chances of thenegative impacts of the risk. The plan will include resourcesincluding funds, labor and equipment. It will be incorporated in themitigation plan as a collective risk response strategy. The plan issummarized in the table below:

Contingency Plan

Resources

Duration

Personnel involved

The contingency plan will involve both mitigation as well as acceptance. In the acceptance, the project manager which in this case will be the conference planners will be prepared for advance weather conditions. In this case the planners will advise the attendance to report to the conference hall early enough to avoid situations where the weather will affect their arrival. In mitigation, the planners will assist the planners to cope with the weather conditions by providing the necessary resources such as room conditioners to ensure the attendance are comfortable in the conference. The facilitators as well as the presenters will be provided with the necessary equipment to aid their presentations.

Power and powerful presentation equipment. The contingency plan will involve extra use of power to provide for instance extra warmth in the conference hall. The presentation will also entail use of interesting presentation equipment to ensure that it is not affected by the extreme weather conditions. The equipment will be powerful and strong enough to ensure that it overcomes the weather challenges.

The entire duration of the conference. The contingency plan will cover the entire duration of the conference since the risk can affect the running of the conference at any point of its execution.

Conference planners. The core planners will be involved in formulation as well as execution of the contingency plan.

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