Risk management Case Study Assignment

Fuddruckers and the Crystal Coast Music Festival

Submitted To –
Prof Sachin Kamble
Project Management.
Prepared By-
Gunamani Sahoo (EMBA21011)
Sabyasachi Samal(EMBA21022)
Chiarg Langer(Emba21009)

1. Does serving as the food vendor for the Crystal Coast Music Festival qualify as a project? Why or why not?

Ans. WBS, Gantt chart, responsibility chart, agile project management, waterfall approach, phase gates, and
RACI matrix are some of the project planning tools that are discussed in this chapter. The WBS and RACI
matrices were the tools that were utilised in this scenario for the planning of the project. In order to fulfil the
requirements of the project, a work breakdown structure is utilised. Either a textual or graphical format can be
used to represent the work breakdown structure. Both have their advantages and disadvantages. The textual
format has the advantage of facilitating simple comprehension throughout the entirety of the account
management process.

Yes, serving as the food vendor for the crystal coast music festival surely qualifies as a project due to following
reasons –
It complies with the three Project Objectives or the “Triple Constraint” to be fulfilled by a project i.e
Time (It’s a time bound activity)
Cost (Economic transaction is involved in the project)
Scope (CRC wants to make profit from the event)

2. What are the sources of uncertainty facing Kathrayn Regan? Can anything be done to help mitigate the
uncertainty?

Ans. Kathrayn faces the following sources of Uncertainty -

a) Weather- Due to the fact that it is an uncontrollable external risk, it must be factored into the risk
assessment, and careful monitoring of the weather prediction is all that will be necessary.
b) Attendance & Consumption per attendee- Keeping tabs on the number of tickets sold in advance up to
Wednesday afternoon will help mitigate this risk, which is also affected by the weather.
c) Order Quantity & New Vendor- Once she chooses a menu option, the suppliers must be informed of the
necessary amounts and whether or not they have a return policy in place in the event of an excess
scenario involving any raw material.

3. Would you recommend Kathrayn go with the limited or broad menu? How much of each food item would
you recommend Kathrayn order?

Ans. Kathryn should choose the limited menu option for the event because food items will be ordered before
three days in the limited option that can imitate the uncertainty of weather to some extent, and the food and
 Risk management Case Study Assignment
Fuddruckers and the Crystal Coast Music Festival

Submitted To –
Prof Sachin Kamble
Project Management.
Prepared By-
Gunamani Sahoo (EMBA21011)
Sabyasachi Samal(EMBA21022)
Chiarg Langer(Emba21009)

chicken need to be ordered before one week of the event occurred in the broad menu option. So there will be
more cost and risk in choosing the broad menu option. The amount of food ordered by Kathryn Regan should
be ⅓ pounds of burgers, ¼ pounds of hot dogs, and potato chips.

After considering the following assumptions and statements, we have settled on a recommendation of 1.5
meals for the attendees. It's going to be a sunny day on Wednesday, which is convenient since we'll have to
choose from a limited menu because of it. According to Katherayn, "based on the time of the event, when the
weather is sunny with some clouds, people eat more." furthermore "some individuals would eat once, some
folks would eat twice. Due to the restricted menu options, we recommend buying 1.5 meals for each attendee.

4. Based on your projected order quantities, develop a budget for the project.

Ans.

Considering – Sunny Weather, 8000 Attendee, 1.5 meals per attendee, 250 VIP Guest
All values in Dollars
 Risk management Case Study Assignment
Fuddruckers and the Crystal Coast Music Festival

Submitted To –
Prof Sachin Kamble
Project Management.
Prepared By-
Gunamani Sahoo (EMBA21011)
Sabyasachi Samal(EMBA21022)
Chiarg Langer(Emba21009)