Risk & Procure Management Example

Risk & Procurement Management –Unit Code –BSS054-6 Assessment-1 University of Bedfordshire
RISK AND PROCUREMENT

MANAGEMENT
1
MSc Project Management, Level- 7
A CASE STUDY REPORT

ON
RISK AND PROCUREMENT
MANAGEMENT
(An Analytical Business Case Study Report for Risk Management

and Mitigation in FIFA World Cup Projects)
Submitted
To
(University of Bedfordshire)
(Dr.Paul Baguley)
By
(Student ID.........)
2
Executive Summary
This Case Study Report for Risk Management and Mitigation in FIFA World Cup Projects summarized
that, projects have to face several threats from different sources and it is not sure incident
and it is the main reason that both planning and measuring are the vital elements in risk
management. The vital source of risk is derived from project procurement and it should be
managed in a professional routine. Because the project risk can happen as threats or
opportunities, therefore analysis and measuring project risks is vital, because a threat
impact on project goals and the opportunities become a loss.
Based on the FIFA World Cup 2014 mega event case study and project and procurement risk
analysis recognized that world cup 2014 Brazil has made failures in big event projects and
made project loss by lacking opportunities, under this circumstances overall risk and project
management has to measure and manage with appropriate tools and follows a professional
approach for risk management and its mitigation. Therefore recommended to focus on the
unmanaged area of the project:-
1. The lack of sufficient communication networks impacted the mega event, due to that
telecasting and data transfer disrupted, therefore focus on strengthening networks
connectivity in big events projects in hosting countries.
2. Domestic transportations like domestic air, road transportation and lack of rail
connectivity and poor road condition impact the mega event severely, therefore
strongly recommended developing infrastructure facilities for different mode of
transportation prior to big event projects in hosting country.
3. Accommodation facilities were greatly in short supply during the big event in hosting
country, therefore accommodation infrastructure to be confirmed prior to big events
in hosting countries.
3
Table of Contents
TABLE OF CONTENTS..................................................................................................................................... 4
LIST OF FIGURES........................................................................................................................................... 4
LIST OF TABLES............................................................................................................................................. 5
1. INTRODUCTION......................................................................................................................................... 5
2. RISK AND PROJECT MANAGEMENT CONCEPTS.......................................................................................... 7
2.1 CONCEPTS IN RISK MANAGEMENT.........................................................................................................................7
2.2 THEORIES AND DEFINITIONS..................................................................................................................................8
2.3 RISK ATTITUDES AND ORGANIZATIONAL BEHAVIOUR.................................................................................................8
3. RISK IDENTIFICATION AND MEASURING.................................................................................................... 9
3.1 BUILD UP THE CONTEXT.......................................................................................................................................9
3.2 IDENTIFY PROJECT RISK......................................................................................................................................10
3.2.1 What to Identify...................................................................................................................................11
3.2.3 Tools and techniques to Identify Risk...................................................................................................13
3.3 EVALUATE AND ASSESS THE RISK..........................................................................................................................16
3.4 PROJECT PROCUREMENT RISK.............................................................................................................................17
3.5 OPTIONS FOR RISK RESPONSE PLAN.....................................................................................................................19
3.6 CONTROL PROJECT RISK.....................................................................................................................................19
4. PROJECT RISK MANAGEMENT STRATEGY................................................................................................. 19
4.1 CONSTRUCTION OF RISK MANAGEMENT STRATEGY................................................................................................20
4.2 RISK MANAGEMENT ROLES, RESPONSIBILITIES AND COMMUNICATION.......................................................................20
CONCLUSION.............................................................................................................................................. 21
RECOMMENDATIONS.................................................................................................................................. 21
REFERENCES............................................................................................................................................... 22
APPENDIX................................................................................................................................................... 25
List of Figures
Figure 1Four Types of Risk Mitigation---------------------------------------------------------------------------------- 5
Figure 2Risk Management Activities------------------------------------------------------------------------------------ 7
Figure 3 Risk Attitude & Behaviour Classification--------------------------------------------------------------------8
Figure 4 Overall Risk Assessment Templates for FIFA Tournaments------------------------------------------10
Figure 5 Overview of Operational Risk-------------------------------------------------------------------------------11
Figure 6 Risk Identification & Risk Management-------------------------------------------------------------------12
Figure 7. Risk Matrix Template----------------------------------------------------------------------------------------- 13
Figure 8 Risk Analysis and Management---------------------------------------------------------------------------13
Figure 9Fish Bone Cause Effect Template----------------------------------------------------------------------------15
Figure 10 RBS- Risk Breakdown Structure---------------------------------------------------------------------------15
4
Figure 11Risk Analysis - Indicator-Based Approach---------------------------------------------------------------16

Figure 12 RISK Analysis - Risk Metrix Approach--------------------------------------------------------------------17
Figure 13Structure for Risk Management Context----------------------------------------------------------------20
Figure 14Communication Through Risk Management Process-------------------------------------------------20
List of Tables
Table 1Project Risk Identification........................................................................................................12
Table 2 Cause - Risk Effect Analysis.....................................................................................................14
Table 3Probability and Impact Metrics................................................................................................16
Table 4Procurement Risk Part 1/2.......................................................................................................17
Table 5Procurement Risk Part 2/2.......................................................................................................18
Table 6Procurement Risk - Example....................................................................................................19
Table 7Risk Management Responsibilities...........................................................................................20
Table 8 Risk Management Responsibilities..........................................................................................21
1. Introduction
Federation of Internationale de Football Association (FIFA) is a non-profit body and it is the

highest governing body of football, futsal, beach soccer globally. It founded in 1904 for
providing unity in football associations. The hosting country was chosen by FIFA by its congress
by a ballot system seven years in advance of the tournament. The world cup hosting it is an honour
to the country and hosting co-existed with its drawbacks. The hosting is costly and no guarantee for
return of economics spent. In addition the hosting country has to meet strict infrastructure
requirements and standards set by FIFA, it includes stadiums, hotels, transit and communication and
electric grids.[ CITATION She18 \l 16393 ]
Refers to the FIFA report[ CITATION Jac14 \l 16393 ] in Brazil there is disparities in infrastructure due
the geographical specialities and poor conditions. The 70% of the bidding process come to those
already have the infrastructure or others have to demonstrate the plans that ensure the criteria will
be met.
South Africa spent $4 billion for preparation of world cup, Brazil spent $15 billion, Russia spent $ 14
billion on infrastructure beyond stadiums and Qatar spent $220 billion and they are started from
scratch, therefore it is not a typo. Therefore it is vital that these mega projects or events required
investments for infrastructure and managing big events required project management efficiency.
Risk is the unintended or likelihood likewise danger, failure. Loss and its management are
the recognizing and measuring the risks in order to respond to it and the risk concept wide-
ranging to the uncertainty concept. The risk handling or risk mitigation (Fig.1) is the process
that has some functions likewise identifies, evaluates, select and implement options to set
the risks acceptable levels that with the constraints and objectives, besides that it includes
the essentials on what ought to be done, when it should be accomplished and who is
responsible. In addition, the related cost and schedule and most appropriate and relevant
strategy should selected from the mitigation option for risk avoidance, risk controlling, risk
transfer or sharing and risk assumption to achieve targeted goals.
5
Figure 1Four Types of Risk Mitigation
Source: [ CITATION MHA20 \l 16393 ]
The Background of this report

This report is prepared on the basis of the case study FIFA World Cup [ CITATION Jac14 \l
16393 ] on a view point of how to manage complexities in major events. In 2014 FIFA world
cup, there are thousands of corporate persons, celebrities and world leaders attended and
the major events success depends on various factors like security, logistics and
infrastructure arrangements of hosting country (Brazil). The success of major events needed
vital resources and entirely different dimensions of planning driven by vilest comfort
assumptions.
The Purpose of this report

The purpose of this report is not limited to analyse the FIFA World Cup report [ CITATION
Jac14 \l 16393 ] . It is a big event, therefore there is big risks also exists, such as mega events
required co-ordination and inclusion in the risk mitigation process as variables of nationwide
resources in private and public sector, besides that measures the complexities in the
availability, arrangements and allocation for the resources for mitigation of risks. The right
advanced expert planning required and depends the perfect running of big events. Under
these circumstances analysing the report with Risk Management Concepts models to
develop and understanding requirements to develop the risk management process for large
scale projects that involving infrastructure and events. Therefore this business report
focuses on Risk Management and in the framework:-
1. Identifying and discussing key risk areas involving Risk Management of a FIFA world
Cup Project.
2. Risk Management Concepts and Models summarise a multi-state risk management
process suitable for a FIFA World Cup Project.
3. Identifying Individual Risks and discussing evaluation and suggest potential
mitigation strategies.
6
The Scope of the Report

This report initiated for to focus on analyse the case study for risk management and risk
mitigation by demonstrating with critically informed knowledge of risk and quality
management to solve the problem with various frame works, tools and techniques and in
the context of project management and operations management with the elements of
purchasing, logistics, supply chain management, the key objectives of the project are:-
1. Demonstrate the engagement through literature that critically analysing the concept
of risk management from various sources of theories besides from multiple sources
of literature.
2. Identifying and measuring the role of project risk process is important segment in
project risk management. In addition, identifies what are the tools and techniques
used for measuring and ranking project risks and above an application example on
project risk and procurement managements provided.
3. Construction of risk strategies and how minimize and manage project risk for mega
complex projects like FIFA World Cup.
This report provides some constructive recommendations for the users or stakeholders.
2. Risk and Project management Concepts

Timely completion within the budget and desired degree of quality of the project scope is a
main concern in project management, but the risks in projects should complicated the
project and if not manage the risks effectively, project failure can occur, therefore
organizations has to understand the sources of the risks that impact the project. [ CITATION
Hil04 \l 16393 ]
2.1 Concepts in Risk Management
The risk management of a project has sequential stages [CITATION Fra05 \l 16393 ], likewise,
building up the context of risk, identifying the project risk, measuring the risk or evaluate and assess
the risk, plan of responses of risk besides monitoring and controlling the risk. (Fig.2)
Figure 2Risk Management Activities
7
Source: [ CITATION Jav20 \l 16393 ]
As and above there is in risk management stages required a well maintained communication system
among the stake holder, such as communicating risk of project beginning to end of the project cycle
is highly vital. [ CITATION Car04 \l 16393 ]
Concerning with project management, the risk management is the practicing of recognizing
and evaluating risks for mitigating to achieve the potential to impact on targeted results and
project managers are responsible to supervising the risk management process during the
project life. The effective management of risk required a clear understanding of the
objectives and it let to identify the possible barriers that impact the result. [ CITATION Sco20 \l
16393 ]
2.2 Theories and definitions
““Risk management is really about looking at your project objectives and figuring out what the
threats to those objectives are, and what you can do to address them from the beginning,”
[ CITATION Con21 \l 16393 ], besides that [ CITATION Con21 \l 16393 ]defines project risk as, “…a
future event that may or may not happen which, if it does happen, will have some impact on the
objectives of the project. It could be positive—an opportunity, or negative—a threat.””
Risk and risk management theories enriched with many definitions from scholars, but it is used the
word Risk in common life use likewise, physically risk, psychological risk, economical risk,
investments risk and social risk. Refers to [ CITATION Ave12 \l 16393 ], in eighteenth century the
concept of risk was an unfavourable event that unmeasurable and it at in early (1940) twentieth
century specifically in USA it defined as measurable uncertainty. Refers to [ CITATION ISO21 \l
16393 ], risk is the, ““effect of uncertainty on objectives and an effect is a positive or negative
deviation from what is expected”.
How beneficial the risk is, Van Scoy argues that, [CITATION Van92 \l 16393 ] , if the risk is
negative something can learn from it for the future, but other definitions and literature
deals it opposite direction likewise, [ CITATION Ave12 \l 16393 ], the risk management leads
one to design some actions for implementation, if there is hazards and it reduces the
consequences, therefore these concepts or definitions shows a common factor there, such
as “”think about the future”” for minimizing threats and maximising opportunities.
2.3 Risk Attitudes and Organizational Behaviour
8
In the framework of organizational decision makers, there are factors directly or indirectly
influence the decision makers such as the organizations culture and style, such as in big
events private sector and public sector involvements are vital, therefore identifying and
assessing the risks depends the attitude of organizational behaviour. Therefore risk attitude
defined as, ““a chosen state of mind concerning those uncertainties that could have a
positive or negative effect on objectives. Risk Attitudes are generally implemented
subconsciously and without mindful validation. However, like any other attitude, risk
attitudes are a choice for an individual or group.”” [ CITATION Mat20 \l 16393 ].
Refers to [ CITATION Hil07 \l 16393 ] risk attitude define as, “what is the chosen response
/mentality of acting regarding the uncertain events that may cause an impact”. Therefore
the risk attitude and behaviour classified into four categories (Fig.3), Risk- averse, Risk-
tolerance, Risk-natural and Risk seeking.
Figure 3 Risk Attitude & Behaviour Classification
Source: - [ CITATION Pmw20 \l 16393 ]
Risk-averse type means, not welcoming the ambiguity and uncertainty and they search for a security
of facts and practical analysis[ CITATION Car05 \l 16393 ], but in case of risk-tolerance they accepting
most of uncertainty and seeks the risk as a daily event [ CITATION Ros93 \l 16393 ], but in Risk-
natural are ready to accept the risk if it is worthy and guaranteed benefits and ready to make
strategies and tactics prior to go for risks.[ CITATION Car05 \l 16393 ]. Risk-seeking always welcome
the challenges and capacity to adapt according to the situation and requirements and in recognizing
risk process they identify only less risk.
3. Risk Identification and Measuring
Refers to [ CITATION ISO21 \l 16393 ], “Risk identification is a process that involves finding,
recognizing, and describing the risks that could influence the achievement of objectives”.
9
It identifies the possible sources of risks for events and circumstances those impact the
attainments of objectives, besides it includes the possible causes and probable
consequences. In an organization to find the risk can use historical data, theoretical analysis,
informed opinions, expert advice and stakeholder input to recognize.
3.1 Build up the Context

Build up the context is where an organization construct a risk management plan and it point
the guideline or framework for the whole risk activity [ CITATION And01 \l 16393 ].A risk
management plan possible to give :-
 it defines the data sources and approaches
 deciding the budget and timing frames
 gives a model for risk breakdown structure
 point out the risk tolerance and thresholds
 Clarifying the recommended format for reporting
 Assign the roles and responsibilities
 Build up the risk communication methods
3.2 Identify Project Risk
Refers to [ CITATION Jey02 \l 16393 ], outsourcing the risk identification process to external
specialist is not better and it has to be involved by the teams of organization and it can
breakdown to physical, people, management categories and studying the characteristics of
the project, organizations process assets and culture.
Figure 4 Overall Risk Assessment Templates for FIFA Tournaments
10
Source: [ CITATION FIF21 \l 16393 ]

Refers to,[ CITATION CIM12 \l 16393 ] operational risk defines as, (CIMA Official Terminology
2005) “Business/operational risk relates to activities carried out within an entity, arising
from structure, systems, people, products or processes.” Besides that CIMA’s [ CITATION
CIM12 \l 16393 ] (Basel Committee on Banking Supervision) defined it as, “the risk of loss
resulting from inadequate or failed internal processes, people and systems, or from external
events.”
Figure 5 Overview of Operational Risk
11
Source: [ CITATION The21 \l 16393 ]

3.2.1 What to Identify
Refers to (Hall, 2008) and [ CITATION Fra07 \l 16393 ], both were argued for set a guide line
for what should be identify from the project point of view, such as analyse the root cause of
the risk that affect project objectives like natural phenomena, human made or
psychological. etc., and for instance, natural phenomena like natural calamities, human
made is like terrorist activities, psychological is like uncomfortable work environment.
If analyse the risk triggers, such as if mix of work groups from the different cultural
backgrounds to the project chances to raise problems due to lack of cultural fitness of
workers. Besides that assess for the potential damages and it may harm the project and
organizing body, such as if the organizing stage of the project and if it on critical and if not
having expert to do the technical work or it done lately or wrongly will cost the project
severely.
Table 1Project Risk Identification
12
Source: [ CITATION Mar16 \l 16393 ]
Figure 6 Risk Identification & Risk Management
Source: [ CITATION Res21 \l 16393 ]
13
3.2.3 Tools and techniques to Identify Risk
There are several tools exist for risk analysis and it independent to the project
characteristics[ CITATION Hal08 \l 16393 ] , have provided analysis tools and those are broadly
using in the complex projects, likewise:-
 Diagramming techniques like flow charts, fish bone, etc.

 SWOT Analysis
 FMEA (Failure Model and Analysis)
 Information Gathering tools like, brain storming, surveys, questionnaires, meeting,
Cause-Risk Effect Analysis, etc.
 RBS (Risk Breakdown Structure)
 Delphi Technique
The risk assessment matrix is useful for predicting the probability of the happening of
unwanted event and when deciding the value all personnel should involve for opinion and
value.
Figure 7. Risk Matrix Template
14
[ CITATION Met21 \l 16393 ]
Figure 8 Risk Analysis and Management
[ CITATION Mar16 \l 16393 ]
Table 2 Cause - Risk Effect Analysis
15
[ CITATION Mar16 \l 16393 ]
Figure 9Fish Bone Cause Effect Template
Figure 10 RBS- Risk Breakdown Structure
16
Source: [ CITATION Foo21 \l 16393 ]
3.3 Evaluate and assess the risk
Refers to [ CITATION Goo21 \l 16393 ], assess means; ““ascertain the size, amount, or degree of
(something) by using an instrument or device marked in standard units.””
The projects has many levels of risk and it related to various factors like cost, quality, time,
procurement and all of these have not the same degree of impact. Therefore different tools
and techniques are required to measure different variables and it helps to point out the
various levels of risk based on the urgency as well as priority of the risk. [ CITATION FuS12 \l
16393 ], [ CITATION She10 \l 16393 ]
There are theories and techniques to assess and measure the risk, such as, gap analysis, scenario
analysis, derivative risk measures, risk’s probability and impact (Table 3)
Table 3Probability and Impact Metrics
17
Figure 11Risk Analysis - Indicator-Based Approach
Source: [ CITATION Van21 \l 16393 ]
Figure 12 RISK Analysis - Risk Metrix Approach
Source: [ CITATION Van21 \l 16393 ]
3.4 Project Procurement Risk

Procurement is vital to the project, because it is connected with the external factors and it
impact the whole project, such as this sensitive factor related with [ CITATION Ant13 \l 16393 ]
18
purchasing materials, equipment, machines etc. from outsourced service or manufacturer

or supplier, moreover, hiring sub-contractors or experts outside of the organization for the
assigned works package, contracts or agreements, orders, transportation or logistics of
material, clearing shipments, warehousing and installation .etc.
Therefore, these factors are added risks providing factors and it has its own risk contribution
factors to the project, therefore, it has to be measured and include in the risk measurement
plan.[ CITATION Gau06 \l 16393 ] Have noted four factors that connected for the procurement
risk, such as, supplier risk, process risk and environmental risk.
Table 4Procurement Risk Part 1/2
Table 5Procurement Risk Part 2/2
19
Table 6Procurement Risk - Example
3.5 Options for Risk Response Plan

The above all analysis, previews and theories are pre-action stages, besides those
responsive plans are vital in risk management, therefore the options for responses are:-
 Mitigate or reduce the threads
 Enhance the opportunities
20
 Avoid threats
 Utilise opportunities
 Transfer the threats
 Share the opportunities
 Accept the plan due to lack of further resources to spent
Every risk has a particular and specific risk owner and if act, the risk is to be true or the trigger will be
achieved the desired target.
3.6 Control Project Risk

Refers to [ CITATION Pro21 \l 16393 ] control risk defines, ““Control risk is a process that involves
the implementation of risk response plans. It also involves tracking the identified
threatening risks, identifying new risks, monitoring residual risks as well as evaluating the
efficacy of risk processes utilized during the entire project.””
4. Project Risk Management Strategy
Figure 13Structure for Risk Management Context
Source :[ CITATION ISO21 \l 16393 ]
4.1 Construction of Risk Management Strategy
Figure 14Communications through Risk Management Process
21
Source: [ CITATION ISO21 \l 16393 ]
4.2 Risk Management Roles, responsibilities and communication
Table 7Risk Management Responsibilities
Table 8 Risk Management Responsibilities
22
Conclusion
To recapitulate, if there is a failure in managing the project risk caused a project failure, due
to that, organizations should have to identify risk level or type of risk that involved in the
activities. The project risk can happen as threats or opportunities, therefore analysis and
measuring project risks is vital, because a threat impact on project goals and the
opportunities become a loss.
The projects have to face several threats from different sources and it is not sure incident
and it is the main reason that both planning and measuring are the vital elements in risk
management. The vital source of risk is derived from project procurement and it is should
be managed in a professional routine.
The project and its risk management includes an organized process and it connected
together and efficient managing of project risk to have select the suitable tools and
techniques, besides that decide the responsibilities and allocate to the right responsible
person to ensure the project is under supervision during the life cycle.
Recommendations
Based on the FIFA World Cup 2014 mega event case study and project and procurement risk
analysis recognized that world cup 2014 Brazil has made failures in big event projects and
made project loss by lacking opportunities, under this circumstances overall risk and project
management has to measure and manage with appropriate tools and follows a professional
approach for risk management and its mitigation. Therefore recommended to focus on the
unmanaged area of the project:-
4. The lack of sufficient communication networks impacted the mega event, due to that
telecasting and data transfer disrupted, therefore focus on strengthening networks
connectivity in big events projects in hosting countries.
5. Domestic transportations like domestic air, road transportation and lack of rail
connectivity and poor road condition impact the mega event severely, therefore
strongly recommended developing infrastructure facilities for different mode of
transportation prior to big event projects in hosting country.
6. Accommodation facilities were greatly in short supply during the big event in hosting
country, therefore accommodation infrastructure to be confirmed prior to big events
in hosting countries.
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Risk & Procurement Management –Unit Code –BSS054-6 Assessment-1 University of Bedfordshire

RISK AND PROCUREMENT

A CASE STUDY REPORT

(An Analytical Business Case Study Report for Risk Management

Figure 11Risk Analysis - Indicator-Based Approach---------------------------------------------------------------16

Federation of Internationale de Football Association (FIFA) is a non-profit body and it is the

Figure 1Four Types of Risk Mitigation

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The Background of this report

The Purpose of this report

The Scope of the Report

2. Risk and Project management Concepts

2.1 Concepts in Risk Management

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2.2 Theories and definitions

2.3 Risk Attitudes and Organizational Behaviour

Figure 3 Risk Attitude & Behaviour Classification

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3. Risk Identification and Measuring

3.1 Build up the Context

3.2 Identify Project Risk

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Figure 5 Overview of Operational Risk

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Table 1Project Risk Identification

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Figure 6 Risk Identification & Risk Management

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3.2.3 Tools and techniques to Identify Risk

 Diagramming techniques like flow charts, fish bone, etc.

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Figure 8 Risk Analysis and Management

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Table 2 Cause - Risk Effect Analysis

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Figure 9Fish Bone Cause Effect Template

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Figure 10 RBS- Risk Breakdown Structure

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3.3 Evaluate and assess the risk

Table 3Probability and Impact Metrics

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Figure 11Risk Analysis - Indicator-Based Approach

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Figure 12 RISK Analysis - Risk Metrix Approach

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3.4 Project Procurement Risk

purchasing materials, equipment, machines etc. from outsourced service or manufacturer

Table 5Procurement Risk Part 2/2

Table 6Procurement Risk - Example

3.5 Options for Risk Response Plan

3.6 Control Project Risk

4. Project Risk Management Strategy

Figure 13Structure for Risk Management Context

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4.1 Construction of Risk Management Strategy

Figure 14Communications through Risk Management Process

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4.2 Risk Management Roles, responsibilities and communication

Table 7Risk Management Responsibilities

Table 8 Risk Management Responsibilities

5. Carlsson.et.al, 2005. Are people Inequality-Averse, or just Risk-Averse. Economica, 72(287),

6. Cernal, S., 2018. resources.investormanagementservices.com. [Online]

7. CIMA , 2012. cimaglobal.com. [Online]

Risk & Procure Management Example

Risk & Procure Management Example