Preview

Risk Management Plan

Powerful Essays
Open Document
Open Document
2533 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Risk Management Plan
RISK MANAGEMENT PLAN
FOR
Australian Open 2009

ESTABLISHING CONTEXT

The Australian Open tennis began in 1905, when The Australasian Tennis Championships were first staged at the Warehouseman 's Cricket Ground in St Kilda Rd, Melbourne. Until tennis ' "Open" era began in 1968, the Australian Championships were held in many different states, and at many different venues around Australia. With the ushering in of Open tennis, the name was changed to the Australian Open, and by 1972, the National Tennis Body decided to give the Australian Open a permanent home and that was Melbourne. More than 500 tennis players from different nations will compete during this event. Along with the players, an estimated 1000 team officials, 2000 hospitality staff, 1500 casual security staff, 1000 sponsors’ staff and 2000 volunteers will attend the event which will be held at three different venues located within the Melbourne area i.e. Rod Laver arena, Vodafone area and Telstra Dome. This event is one of the biggest events in Australia which has a turnover of around 10 – 15 million dollars. To allow Australian Open run effectively with reasonable safety for all users and stakeholders, we needed to identify potential risks that may have had an impact on the provision of its services to the tournament. Our aim is to achieve best practice in controlling all the risks to which Australian Open 2009 is exposed. We will achieve this by identifying our priority exposures, addressing these, incorporating appropriate risk management strategies, risk improvements and contingency planning into our business, monitoring and reviewing ongoing risk to account for changes in our operations and to enable us to make well-informed decisions on risk controls. As the first step of this process, this document outlines the framework for Australian Open 2009 risk management. Within this framework, training will provide appropriate tools and practices for the effective management of risks. The next step

You May Also Find These Documents Helpful

  • Good Essays

    Risk Management Plan Devry

    • 1424 Words
    • 6 Pages

    5. Equipment delay. Equipment needed to complete the project is delayed. Un-availability of equipment. Equipment availability is important as well.…

    • 1424 Words
    • 6 Pages
    Good Essays
  • Good Essays

    My partners and I have made a list of areas that might cause the project delays or failure with their respective outcomes. We have listed the risk below that can prevent the project to finish on time.…

    • 1078 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Risk Management

    • 786 Words
    • 4 Pages

    Pizza rush is a large take-away company in Australia with a total of to take-away stores scattered in all major cities nationwide…

    • 786 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Risk Management Plan

    • 2116 Words
    • 9 Pages

    The Project Management Team will need a proactive approach in the management of risks and related uncertainty. Management of risks for this project will follow a continuous risk management model, refined as the PLC develops. Involvement of support from the business, technical, executive, and external partners is crucial to having a viable risk management process. Tasks will be evaluated and identified for the mitigation of risks; uncertainty of organizational environmental factors will be included in the evaluation of impact and probability, as appropriate. This will ensure that tracking of progress, or lack thereof, occurs and necessary resources are identified for corrective/mitigating actions planned.…

    • 2116 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    Who are the key participants in developing a risk management plan? Who owns and maintains the risk management process? What are the key deliverable of the risk management planning process? Explain how these deliverables assist an organization in effectively dealing with risk.…

    • 355 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Risk Management

    • 622 Words
    • 3 Pages

    The Integrated Distributors Incorporated is a publically traded company that is facing many challenges. The company’s Information technology infrastructure has been ignored and many of its operating locations are running outdated hardware and software, which greatly increases the risk to the network in relations to confidentiality, integrity, and availability. Because of the outdated hardware and software, the company suffered some network compromises through their JV internet site and it led to disclosures of sensitive and strategic information.…

    • 622 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Risk Management

    • 2295 Words
    • 10 Pages

    The metrics that best work to measure Xemba Translations performance on this project is project diagnostic metrics. While not all risks of a project can be mitigated, using this objective data based on these metrics will make a huge difference to mitigate risk. Using diagnostic project metrics is like using a thermometer to assess the projects current status. This can help eliminate or mitigate the issue before it becomes unmanageable at the close of the project. This can help avoid the, should have, could have, would have moments that may happen once the project closes and gets reviewed from a retrospective project metric. With the diagnostic project metric when an issue does arise a contingency plan can be created if there is a trend toward a major risk as well. Diagnostic project metrics use current project statistics to gage where the project stands throughout the work of the project. This allows the project manager the ability to make better decisions along the route of the project to mitigate risk. Metrics that help improve the decision making, help aid to lower the risk of any project. Diagnostic metrics are comparative measures. The metrics compare a baseline (usually set at time of planning the project) to current project actuals. The actuals are compared to an earned value figure that is determined by where the project should be at that exact moment in time according to the project schedule. These diagnostic metrics will use the actual cost, earned value, and planned value to evaluate schedule variance, schedule performance, cost performance, and cost variance. Schedule performance and schedule variance will evaluate the earned value against the planned value. This will help show if the project is currently on schedule, or if not is it over or under schedule and by how much. Cost variance and cost schedule will reveal how the project is performing compared to the current cost and planned budget. These values will help the project manager assess if the…

    • 2295 Words
    • 10 Pages
    Powerful Essays
  • Satisfactory Essays

    The use of social media has increased in recent years and according to this chart we can see according to age groups how many are connecting to social media. Students and teachers both use things like Facebook, Myspace, Linkedin, Instagram and many more. These applications have the potential to transmit malware every time they are used on the campus network. Malware can be embedded in everything…

    • 650 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Risk Management

    • 305 Words
    • 2 Pages

    Tokyo is 216.6743. The yen rate in New York is given in the preceding table. Are arbitrage profits possible? Set up an arbitrage scheme with your capital. What is the gain (loss) in dollars?…

    • 305 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    The simulation requires that the project manager successful and effectively manage the Project Integra that will influence the integration between American Bank of Indiana (ABI) and First American Financial Service Group (FAFS). A successful Project Manager must simultaneously manage the four basic elements of a project: resources, time, money, and most important, scope. To excel at this position an individual must have communication and interpersonal skills, attention to detail, and strong analytical skills. The Project Manager must motivate the project team to adopt the goal and methods to achieve them by evaluation through performance. The Project Manager must break the project into many steps and perform them in logical order.…

    • 2754 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    Risk Management Policies

    • 398 Words
    • 2 Pages

    Develop Health & Safety and Risk Management Policies, Procedures and Practices in Health & Social Care or Children and Young People’s Settings.…

    • 398 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Risk Management

    • 607 Words
    • 3 Pages

    The candidate does not develop a social responsibility strategy for the chosen client that includes an environmental considerations and recommendations component.…

    • 607 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Risk Management

    • 2368 Words
    • 10 Pages

    The reason of using Risk Assessment is to analyze hidden risks that could force a clash with the operation of the business of McBride Financial Services. This will analyze the plan of attack that will help to implemented for to avoid the risks and to minimize the risks that are inescapable.…

    • 2368 Words
    • 10 Pages
    Better Essays
  • Powerful Essays

    Risk Management

    • 1604 Words
    • 7 Pages

    According to the Risk Management section of Wells Fargo’s 2011 Annual Report, to be successful they manage and control three major business risks: credit, asset/liability, and market risk. As for this paper, I’m only going to discuss about their credit and interest rate risk, which is managed under their asset/liability section. Wells Fargo has continued to invest in its risk infrastructure especially since it is a larger and more complex company than before it merged with Wachovia. Wells Fargo’s Senior Executive Vice President and Chief Risk Officer, Michael Loughlin states that they have three lines of defense for managing the risks:…

    • 1604 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Medical Malpractice

    • 1968 Words
    • 8 Pages

    Imagine yourself lying on an operating table, motionless, quiet. Above, you notice people standing over you. You try to speak but the words just cannot come out. Your arms feel as if they are plastered to the table. You begin to stand up but feel as if weights are strapped to your back and you are bound to the table. Suddenly you feel a sharp pain in your midsection. In and out, you see a surgeon slicing your body open with a scalpel. Every motion the masked person makes is as if you are being torn apart from the inside out. One would hope this would simply be a nightmare and they will wake up and everything will be fine. In this instance, this person will come to and realize that they had just gotten the surgery that they needed, while they were still conscious.…

    • 1968 Words
    • 8 Pages
    Powerful Essays

Related Topics