View on the Role of Risk Management
Risk is an undetermined occurrence that prompts to lead to poor outcomes or happens to be dangerous. Game quality, time and cost are the main risk factors. In the game, the project team has six weeks and a budget of £ 150,000 to build a shelter and help locals meet the head of the village. Likewise, the data displayed in the risk register is primarily related to materials. Damaged materials and delivery delays can lead to an increase in the cost of the project at the outlet and retention in the project completion. Thus, risk management can help the project manager balance the price, delivery time and the village head contentment, as well as minimise the supplementary project cost and the delivery delay caused by risk.
Used Techniques to Plan Risk Management
The authors consider using two approaches under the risk management methods or tools for this game. The first method is risk probability and impact evaluation designed to assess the risk. It was determined in terms of the origin place and the degree of impact on the project by the established scoring criteria; the risk register is available in the game project. The author of this article can use the approach, evaluating each risk from the description given in the risk register. It can also help the project manager identify each risk in the project and provide a general idea of how these risks influence the project goals.
The second approach of the probability and matrix impact analysis assists the project manager to classify known risks by matching risk probability and impact. The method assigns five levels of probability and impact: unlikely, low, moderate, high, expected, and minor, low, moderate, high and extreme, respectively. It is the first method based on the assessment results and the risk rating matrix. The impact degree of each risk is not identical, seeing the plenty of threats in the risk register. Thus, this approach can ensure a secure basis for the project manager to define the priority of working with the risk.
Requirements that Impacted Project Risk. Solution of Conflicts
Jeff Jackson, Sally Lawson, and Alessandro Bello are the game’s stakeholders. Jeff Jackson is the initiator and CEO of the foundation; he reckons the project to be completed on time and within budget. As a result, assistance is provided not only to local refugees but also to the foundation’s good influence in the media so that it can receive more donations. Sally Lawson is one of the sponsors of the foundation and hopes the project will be successful and completed on time.
Furthermore, she expects the team will be able to help the local refugees as much as possible. Alessandro Bello, the mayor of the village, anticipates that the residents will pay for domestic labour and the sale of woolen blankets to improve the economic situation in the village.
The needs of these three people are associated with three aspects: time, quality and cost, which are not only the goals of the project but also risk factors. If buying all the most expensive things, then the budget will be exceeded. The needs of Sally Lawson and Alessandro Bello diverge from the demands of Jeff Jackson. If using local labour, in this case, the project will be postponed. Alessandro Bello’s needs differ from those of Jeff Jackson and Sally Lawson. Thus, a project manager has to balance the needs of these people.
The author had to buy inflatable mattresses and tarpaulins, which add cost but decrease damage risk, and people get sick while inflatable mattresses reduce expenses. Moreover, the author used local labour and bought woolen blankets, which will delay the project time. Although, in this case, the project cost will decrease, this will improve the domestic economic situation, thereby increasing the satisfaction of the village head. The writer bought emergency kits, water and other necessities, which increases costs but reduces the sickness risk and enhances contentment of Sally Lawson and Alessandro Bello.