19 Jul IDENTIFY SOME MEASURES (E.METRICS) BY WHICH EACH OF THE KEY STAKEHOLDERS COULD ESTABLISH THEIR LEVEL OF SUCCESS IN DOING BUSINESS WITH WRU.
Topic 2: Risk Management:
Question 1 (30 Marks)
Using the notes on Graham Kenny’s Strategic Factors (the PowerPoint presentation for Day 2: Risk Management – Concepts and Strategy), and also the insights gained from Day 1: Finance and Day 3: Contracts & Procurement; fill out the Table with column headings ‘Organisational Objectives’, ‘Behavioural Outcomes’, ‘Risks’, ‘Strategic Factors’ and ‘Measure’ (template provided). The Case Study A: Football Stadia pertains to The Millennium Stadium, Cardiff given on pages 381-398. Refer topage 392 of the, Figure A.3 for a list of stakeholders for the project.
With the Welsh Rugby Union (WRU) / Millennium Stadium as the ‘Organisation’, identify any six (6) key stakeholders of which two (2) of these should be subcontractors (Contract & Procurement) and one (1) of these a bank (Finance). Do the following:
Identify theWRU’s organisational objectives (as many as you can) in relation to each of the identified key stakeholders.
What do you think are the desirable behavioural outcomes that the WRU would desire of these stakeholders?
What are the potential risks faced by the WRU? Next to these risks, in a sentence or two indicate how these may be mitigated.
What are the strategic factors? In other words, what does each of the selected key stakeholders want (in return) from the WRU?
Identify some measures (e.metrics) by which each of the key stakeholders could establish their level of success in doing business with WRU.
Note that in filling out the Table, you would have answered i-v.
Question 2 (30 Marks)
Refer to the PowerPoint presentation for Day 2 on Risk Management – Basic and Advanced Tools. Using the soft copy of the risk matrix template (see Group Exercise II) made available to you, do the following:
Identify the hazards and risks for the key stakeholders that you have identified above.
Assess the probability (likelihood) of occurrence, the potential consequences and the resultant risk rating if no mitigating measures are put in place.
For each of these risks, indicate what mitigating (control) measures should be instituted in order to reduce the likelihood of occurrence and the severity of the consequences
Re-assess the likelihood of occurrence, the potential consequences and the revised risk rating in view of these measures.
Note that in filling out the columns of the risk matrix, you would have answered i-iv. The final question below (v.) is listed on the risk matrix (template) spreadsheet itself.
In your opinion, which of these risks would be better assessed using a more quantitative risk tool e.g. Monte Carlo? Briefly explain your answer.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.