FUNDAMENTALS OF

PROJECT MANAGEMENT
Project Part 4

RAJVI KAVAR – 301239223

RUTH DMELLO – 301229874
 RISK REGISTER
11.3 PERFORM
11.2 QUALITATIV 11.7
IDENTIFY E RISK 11.5 PLAN RISK MONITOR
RISKS   ANALYSIS       RESPONSES RISKS
Risk
Rating -
Impact Risk Score Severity Open
Risk Risk Category Probability (1-5) (1-5) (Probability*Impact) Level Threat /Closed
The event may not
draw enough
people, resulting in
Low low attendance and
attendance Project MEDIU little money raised
risk Management 2 4 8 M for the charity. Open
Bad weather (e.g.,
rain, snow, etc.)
could deter people
from attending the
event, resulting in
low attendance and
little money raised
for the charity.
Possible mitigation
actions include: -
advertising the
event more widely
making sure the
event is affordable
for everyone -
making sure the
event is accessible
for everyone
Possible mitigation
actions: -Ensure that
the event is held
indoors -Have a
contingency plan for
bad weather (e.g.,
move the event to
an alternate
location) -Ensure
that the event is held
during a time of
year when the
 Risk of bad weather is typically
weather: Environmental 3 4 12 LOW good Open
Risk of a External 2 3 6 MEDIU The event can cause Open
power M a power outage,
outage causing darkness
 and panic. Possible
mitigation: Make
sure the venue has
an emergency
power supply. Make
announcements
through the PA
system to keep
people informed of
what's happening.
Develop a clear exit
strategy in case the
crowd needs to be
evacuated.
This risk can lead to
customer
dissatisfaction and
damage the
company's
reputation, and in
the worst case, the
customer decides to
Client terminate the
requirements Project MEDIU contract
not met Management 1 5 5 M prematurely. Open
People can
deliberately damage
the venue and cause
property damage.
Possible mitigations
include the
following: Hire
security guards to
monitor the crowd,
make
announcements
through the PA
system, and let
people know that a
clear exit strategy is
taking place in case
Risk of MEDIU the crowd needs to
vandalism Physical 2 3 6 M be evacuated. Open
Accidental Physical 2 4 8 MEDIU Work can be Open
Hazards M stopped or not on
time because of an
extreme accident,
and manufacturing
might also
additionally suffer.
Due to all the
 expenses related to
managing an
accident, this could
locate your venture
in a notable
monetary danger.
As a result, project
tasks cannot be
completed on time,
reducing worker
productivity. In
addition, the project
Improper will not be able to
Management meet the demands of
of strategic Project the market, thereby
resources Management 2 3 6 LOW losing market share. Open
Events can cause
legal issues.
Authorities can end
the event due to
safety concerns.
Alternatively,
people can sue the
organizer for
injuries or injuries.
Possible mitigations
are: Make sure the
venue is compliant
Hire security guards
to make sure the
Risk of legal event is properly
problems External 3 2 7 LOW insured Open
The sound system
Risk of may not work
equipment MEDIU properly. Trips or
problems Operational 4 3 5 M other mishaps. Open
Delayed project-
wide threats can
have several
negative impacts on
the project and its
participants,
including disputes
between utilities and
contractors,
increased costs, lost
Delay of revenues, and
overall Project contract
project Management 3 3 9 HIGH terminations. Open
 Lessons Learned Report
Project Name: Music Heritage

1. Did the project meet scope, time, and cost goals?

The project scope was reached, but the timeframe and associated expenses to the
business were not. Having a few days of downtime on planes that otherwise
would have been in service and bringing in money for the corporation may be
costly in aviation, where a few days of delay can have a big impact.

2. What was the success criteria listed in the project scope statement?
The move was completed with minimum delay despite extremely poor weather
circumstances, which was one of the success criterion specified. The project
management and execution team worked tirelessly to limit the damages that may
have happened.

3. Reflect on whether or not you met the project success criteria.

I believe the project objective was generally completed, although additional
accommodations might have been made while creating the CPM chart to handle
weather circumstances that are common during these times.

4. In terms of managing the project, what were the main lessons your team learned?
Have a go-to resource for event planning news, trends, and education that you can
quickly search within for advice as needed. Not having a structured event
management process can be a challenge. However, it is always effective for the
project manager to conduct a session with all team members to brainstorm and
collate the information at the end of a significant milestone of a project. Lack of
real world work experience can be an event challenge.

5. Describe one example of what went right on this project.

Meeting deadlines of submitting all the managing documents on time. Staying
positive. Got a passionate professor to guide throughout the project.

6. Describe one example of what went wrong on this project.

Document any obstacles along the way for next time. Be proactive enough to
 sense when things are getting off track and adjust accordingly, instead of just
reacting afterwards. Always communicate in a professional and respectful
manner.

7. What will you do differently on the next project based on your experience
working on this project?
Celebrate milestones, it’s important to celebrate milestones as they happen and
reward jobs well done. Acknowledge team members for what they have
accomplished to boost morale and keep team motivated and focused. Know the
strengths and weaknesses of team. When in doubt communicate well. All team
members need to be approachable and friendly.