Create the risk register for a given project

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Reference no: EM133940015

Objective:

LO1: The student will be able to identify major project risks and create the risk register for a given project.
LO2: The student will be able to correctly formulate risk statements so that confusion between the risk causes and effects are avoided.

Instructions:

For the project described below, you are required to identify 10 major risks and write them in the provided risk register template. At least two of them should be opportunities for growth (e.g., through marketing), and at least two should be finance- related (there can be overlap between the opportunities and the finance-related risks). Please pay attention to how you formulate the risks to avoid ambiguities. For this assignment, you only have to fill in the Risk column (detailed analysis will be performed in the following assignments).

Project Title: Building and opening a new Toy4All store

Project Description: Toy4All toy store chain wants to open a new store in a small town. For this project, the Director of the Projects Department assigned Mr. Play as the project manager, an employee with 5 years of service in the company. He will have to plan and coordinate all activities related to the new store's opening, which, unlike other existing stores, will be equipped with a children playground. He will need to consider the activities: building the store, setting up the interior and the exterior, supplying the store with toys, defining the personnel structure, and preparing the store for the opening. Also, the details regarding advertising must not be forgotten. The project duration is 1 year and will end with an opening event. Get instant assignment help from top tutors.

Due to the professionalism proven when building previous stores, the company decided to work with the same building contractor (for the construction phase). By now, all licenses and permits required to start the work have been obtained.

The role of Mr. Play will not be easy. He was assigned due to his idea to include a playground in the store, which, once applied, should lead to increased sales figures. While the entire management has supported the idea, several heads of departments in the organization were not very pleased by his assignment, considering him too young and inexperienced for such a project. The most serious concerns are related to the project's impact on the already planned activities that will support sales in the holiday season.

Reference no: EM133940015

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