05 May Create a risk probability attachment. For this assignment you will need to create a list of at least ten identified risks from your project. After

Assignment 7 is a display of your knowledge around applying the risk matrix to your risks for your project.

For this assignment you will need to create a list of at least ten identified risks from your project. After you have completed your list, you will then create a risk matrix to show the probability and impact assessment.

Please use clear if/then statements, as discussed. The if/then statements should cover the risk and the impact to the project. This will help with determining the probability and the impact levels during the assessment.

A template has been provided and the following should be covered for each of the identified ten risks:

· Risk ID: a number that indicates the risk

· Risk Statement: a clear if/then statement

· Probability: The probability the risk will occur (Can use high, medium, low or numeric system).

· Impact: The impact on the project because of the risk (Can use high, medium, low or numeric system).

· Overall Score: This is the final ranking score to determine where each risk falls among all other risks.

Once the risks have been assessed, you must prioritize the risks in order of importance. This is helpful in the real world, for the next step and it is an important understanding to have when dealing with risks.

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PROJECT RISK MATRIX

Project Title:

Date Prepared:

RISK ID	RISK STATEMENT	PROBABILITY	IMPACT	OVERALL SCORE

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1

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Company Picnic

Rosa King

MGT-312-OL01

Professor Cleveland

Company Picnic

Introduction:

I have chosen this annual picnic plan for the organization because I have some experience in arranging picnics and hangout events for different organizations. The budget for this project is 100,000, and a minimum of 350 people are expected to attend this annual picnic. There will be many phases in this project, and we will discuss everything related to this project. (Mavi, 2018)

Theme:

This pandemic situation had a negative impact on most of us. So, the theme should be following healthy habits and healthy eating. At the picnic, we will encourage the participants to do healthy activities and eat healthy food. This theme will help the company introduce a culture among its employees to maintain a work-life balance as healthy activities will lead to a happy mind.

Date:

The date I have selected whenever the long weekend holiday is happening in the next six months. Memorial Day, May 30, is the best in the next six months as it's a public holiday on Monday because of Memorial Day, in line with Saturday and Sunday. So, Sunday, May 29 will be the date for this Picnic event.

Location:

The most suitable location for this picnic event will be a resort beside the lake where water sports activities can be done and a lot of playing space for the kids as well. The natural environment is also very important. The location should be far away from the hustle of city life. A peaceful environment will boost the modes of the participants as well.

Adequate Entertainment:

A lot of sports activities and competitions have been planned for the participant, and water sports activities are for the adults and running, and entertainment competitions are planned for the kids accompanying their parents. This will make the event a perfect family outing.

Menu:

The Menu will consist of mainly healthy options to promote our healthy theme for the event. Most of the food consists of healthy products like fruits and keto-related dishes on the menu, but there will be Bar BQ for the adults as well as Bar BQ is considered an essential part of family gatherings or picnic events.

Employee Voting:

Keeping in mind the theme of the whole event, there will be voting for the menu options, and all of the employees are encouraged to take part in the voting.

Games and Activities:

As this location is a resort beside the lake, water sports activities like boating, jet ski, blow-and-go parachute, and other activities and for the kids, the activities should include running competition, sports like football and stickball.

Party Gifts:

Party gifts will be a very positive addition to this event as they will motivate the families of the employees to participate in the next events as well. Small prizes for the kids who win different competitions of kids like race and climbing competitions and there will be some gifts for those who lost the competition as well. And for the adults, there will be a participation gift for everyone, and employees who participate with families will be given a decoration piece for their homes, and those who participate alone will be given a wristwatch or a shirt as a participation gift. (Mavi, 2018)

Attendance rate of management:

The attendance rate of management is low, so they will be encouraged more than any other department to participate in this annual picnic event, and they will be given some relaxation from work to motivate them.

Equipment and marketing:

Lakeside resorts have all the equipment available at their disposal, so all the equipment needed for all the activities can be rented on the spot from the resort, and marketing material for the event will be good and catchy flyers which will be delivered to all the employees.

Budget

Location:

The first and the most consuming part of this whole project is the location, and booking a good and peaceful resort with all the facilities will be expensive. The total budget of 100,000, and at least 50 percent of that budget will be invested in location. So, 50,000 will be allocated to the location.

Menu:

The second part, while distributing the budget, will go the Menu and healthy food along with BBQ will cost more money, but the budget is limited to 100,000 with a 5% contingency fund. So, the budget allocation for the food will be 30,000 as the expected number of guests will be around 350. (Ansah, 2018)

Activities:

Most of the water sports activities will be paid under the resort budget as all of these activities will be included in the budget of the resort, and some other activities like kid's competitions will cost around 5,000. Other Adult activities and competitions will also cost around 5,0000, and the equipment rented for the event will cost around 5,000 as well, so the remaining budget is 5,000 apart from the contingency fund. (Ploder, 2020)

Gifts:

So, 5,000 is our remaining budget, and we have to buy gifts and prizes for all the participants, who can cost around 15,000 to 20,000 dollars. Instead of buying reasonable products as gifts for the employees, because of the shortage of the budget, we will be forced to buy cheap products as gifts for the employees.

Conclusion:

The number of employees who are expected to participate in this event is 350 out of 500, and the management team is more than encouraged to participate in this event. If they participate with full capacity, then it will be very difficult for the project manager to run this project in this limited budget. The event and the requirements can not be fulfilled in this budget as the shortfall will be around 10,000 dollars to 20,000. So, to complete this project successfully, the budget should be increased up to 120,000, and the contingency fund should be at 10% of the total budget.

References

Mavi, R. K., & Standing, C. (2018). Critical success factors of sustainable project management in construction: A fuzzy DEMATEL-ANP approach. Journal of cleaner production, 194, 751-765.

Ansah, R. H., & Sorooshian, S. (2018). 4P delays in project management. Engineering, Construction, and Architectural Management.

Ploder, C., Dilger, T., & Bernsteiner, R. (2020). A Framework to Combine Corporate Budgeting with Agile Project Management. In Software Engineering (Workshops).

Liberatore, M. J., & Titus, G. J. (1983). The practice of management science in R&D project management. Management Science, 29(8), 962-974.

Shujat, S. S. (2011). Effects of Recreational and Entertainment Activities on Employees Job Satisfaction: A Case Study. IBT Journal of Business Studies (JBS), 7(1).

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Company picnic

Theme: Healthy Habits and Healthy Eating

Location: North Beach Resort & Villas

Date: May 29

Rosa King

Work Breakdown Structure

Healthy Habits and healthy eating

Safety preparation

Games and Activities

Running

Employee Voting

Football

Stickball

Kids

Adults

Boating

Jet ski

blow-and-go parachute

Trash bags

Sun screen

Bug spray

Body wipes

Water

Food

Fruits

Mango

Apple

dishes

Bar BQ

Rainbow Gelatins Cubes

Tomato-Melon chicken Salad

Confetti Snack Mix

Frosted Lemon-Ricotta cookies

Party Gifts

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Rosa King

MGT-312-OL01

Professor Jordan Cleveland

April 10, 2022

Company Picnic AON Diagram

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1

Rosa King

MGT-312-OL01

Professor Jordan Cleveland

April 10, 2022

Company Picnic Schedule Baseline

Company Picnic Activities Table

Activity No.	Activities	Sub-tasks
1.	Safety preparation	Water, Bug spray, Sun screen, Body wipes, and Trash bags
2.	Games and Activities	Adults: Boating, Jet ski, Blow and go parachute
		Kids: Football, running, and stickball
3.	Employee voting	Food; Fruits and Dishes
		Fruits: Apple, Mango
		Dishes: Bar BQ, Rainbow Gelatins Cubes, Tomato-Melon chicken Salad, Confetti Snack Mix, and Frosted Lemon-Ricotta cookies
4.	Party gifts

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Company Picnic Estimated Costs

Rosa King

MGT-312

Saint Leo University

Introduction:

To calculate the total estimated cost of the whole Picnic, we need to look at the start of the Picnic till the end of the Picnic. And consider every small detail to estimate the cost of the Picnic accurately. The estimated cost of the project depends on the total number of employees who are coming to the Picnic. The more participants, the more it will cost. 

Work Package Estimate:

It includes the estimated cost of safety preparation, games and activities, employee voting, and party gifts.

Safety preparation: safety preparation includes water, bug spray, sunblock, body wipes, and trash bags. Water is the most important element, and it should be bought in good quantity because after the sports activities the participants will need a good amount of water and the estimated cost of water will be 500 dollars. Bug spray is the need of the time as the Picnic will be held at the lake in a forest where there will be a huge quantity of bugs, so bug spray should be bought in bulk quantity, and the estimated cost will be 600 dollars. Sunblock cream is also important, and the estimated cost of the sunblock will be 700 dollars. Body wipes will cost around 300 dollars/ As there will be around 350 participants so, there will be a good amount of trash, and to collect that trash, we need around 30 trash bags which will cost us around 30 dollars. 

Games and activities: For games and activities for both adults and kids we need some equipment and for adults' water sports equipment will be needed which will cost around 5000 dollars, and for kid's games activities of football and stickball the sports equipment will cost around 1000 dollars.

Food: After the employees vote on food items, the cooking equipment and material we need are dishes, Bar BQ, and sauces with vegetables and fruits as well as cookies for kids, and the whole food section of the Picnic will cost around 30000 dollars. 

Party gifts: After the Picnic finishes the management has decided to give its employees some part gifts and the gift will cost around 7000 dollars. 

Estimates for Supplies or Materials: 

The estimated cost for all the supplies and materials for 350 employees who are participating in the picnic events can go up to 70,000, including all the food and all the food items bought by the management, including party gifts.

Estimates for Vendors and Procurement activity:

All the procurement activities are done by the staff hired for the Picnic, and vendors are needed to provide the equipment for activities. The total estimated cost for the vendors and procurement activities will be around 20,000 dollars.

Estimated for Risk or Unknown activities:

The estimated cost for risk should be between 5000 dollars to 10000 dollars as an emergency event can happen because a lot of employees are involved in this Picnic, and the management should make an emergency fund to pay for any risk. The risk of injury or breaking down of any equipment is medium to high, so the estimated cost for risk should be high, and the good estimate will be 10000 dollars. 

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STAKEHOLDER MANAGEMENT TEMPLATE

Project Title: Company Picnic Date Prepared: April 29, 2022

Role	Influence/Power	Impact Assessment	Strategies
Chief Executive Officer	High	· Major corporate decisions · Management of company resources · Management of company risks · A liaison for the board of directors	· A vision for the clear demarcation of interest · Receptiveness to the other employees of the companies · Adaptability to the changing climate of business · Motivation to pursue the project in a skillful manner
Security Manager	High	· Finishing the General Data Protection Regulation compliant checkouts · A potent security posture to protect company assets · Recruiting, training, and supervising security officers and guards	· Identifying key assets that need protection · Constant effort to maintain and upgrade the implementing policies · Strategic Diffusion of security responsibilities among staff members
Senior Developer	Low	· Development duties of coding and web development · Manage junior developers · Handling overseas projects	· Fast Problem-Solving Abilities · Effective Testing Models · Putting together Design Patterns and coding techniques
Accountant	Low	· Preparing accounts and tax returns · Monitoring budgets and spending · Auditing and analyzing financial performance	· Setting financial goals to fulfill · Assessing risks · Strategy for mergers · Strategy for acquisitions
Call center Agents	Low	· Creative approach to problem-solving · Open to communication creating a healthy environment · Keeping the team integrated through reinforcing attitudes	· Regular feedback on employee attitudes · Coaching culture approaches · Use of good monitoring tools
I.T. Support Team	Low	· Sensitivity to the needs of the clients · A flexible approach toward assignments · Creating a collaborative environment	· Optimal technological solutions · Roadmap for every tactic · Business Alignment
Project Manager	High	· Timely management of the project · Achieving the task within budget · Maintain the high standards of projects	· Maintaining clarity and cohesion between objectives and practical implementation of strategies · Task Prioritization · Opposing multi-tasking approaches
Customer	High	· Evaluation of the ripple effects of customer behavior · Behavior towards products and policies · Effect on employees	· Articulation of experience and value · Understanding customer needs · Customer engagement tactics
Sales Executive	Low	· Educating customers regarding products · Dealing with tough customer questions · Establish potential obstacles	· Powerful value proposition · Key performance indicators · Consultative selling
Marketing Executive	High	· Increasing brand awareness · Increase in market shares · Managing the marketing department’s budget	· Prioritizing online content · Social Media campaign · Cost-effective budget for marketing tactics
Director of Content Marketing	High	· Assigning topics to freelancers and writers · Producing quality content for effective marketing · Reviewing and updating old assets	· Attracting and engaging the audience · Sharing relevant articles and promotional videos · Creating brand awareness

COMMUNICATION MANAGEMENT TEMPLATE

Project Title:

Company Picnic

Date Prepared:

April 29, 2022

Message	Audience	Method	Frequency	Sender
All company proceedings including project progress and financial status	CEO	Emails and Verbal updates	Weekly	Project Manager
Technical specifications and hardware requirements. Live dates	I.T. Support Team	Meetings and weekly updates	Depending upon the startup launch	Project Manager
New features for users so marketing can initiate website blogs	marketing manager	Product Brief and meetings	Specific dates	Change manager
Updates on new features on online facets of the company	Senior Developer	Email and Website	Specific Dates	Change manager
High-Level information, new features, and training update	Project Manager	Email and verbal updates	Monthly basis	Project or Change Manager
Information regarding new features and training dates	All stakeholders	Email and Verbal Updates	Monthly to weekly	Project Manager
Project details of every team for keeping tabs on the progress	Project Manager	Personal check-in meetings, email notifications from the software	Daily	All subordinate teams
Review project status and potential issues and delays in it	Chief Executive Officer	Reports and meetings	Daily	Project Manager
Discussing financial expenditures and budget details	Accountant	Face to face or presentation	Bi-weekly	CFO
Discussing the new and rising risks for the project	Chief Executive Officer	Face to face or presentation	Bi-weekly	CEO
Task reminders and schedule updates	All stakeholders	Email	Daily	Project Manager