MAN6301 Project Risk Management Assignment 1 - Task 1B Risk Management Business Report Instructions This assessment builds on the work you completed for assessment 1 and any feedback you have received...

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Running Header: Risk Management – Olympic Games in Tokyo 2020: Australian National Athletics Team
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Risk Management – Olympic Games in Tokyo 2020: Australian National Athletics Team
Risk Management – Olympic Games in Tokyo 2020: Australian National Athletics Team
Table of Contents
Background Information    3
Executive Summary    3
Recommendations    3
Analysis    4
Aims & Success Criteria    4
Risk Appetite & Tolerance    4
Risk Breakdown Structure    5
Risk Probabilities    10
Risk Consequences    15
Risk Severity Matrix    20
Risk Responses Strategy    25
Risk Register    30
Limitations    35
References    36
Background Information
Hanstad (2012) is the lack of sufficient focus and efforts in undertaking risk management and planning with respect to Olympic or larger sporting events in favour of teams / nations that are participating in these games rather as in the current trend focussing on the hosting nation standpoints. In alignment to this emphasis, this project concerns the management of the athletics team of Australian team to participate in the Tokyo Olympics planned to be undertaken in 2020. As part of undertaking the project planning and affiliated implementation of the project in a successful manner, this report presents the outcome of detailed risk management activity entailing a detailed analysis and planning of each and every risk event that has been identified with respect to this project.
Executive Summary
This report presented the detailed analysis and planning of each and every risk event that has been identified with respect to this project, that is, management of the athletics team of Australian team to participate in the Tokyo Olympics planned to be undertaken in 2020. The various findings and outcomes presented with respect to this analysis include project aims, project success criteria, risk appetite of the project, risk tolerance of the project, risk breakdown structure, risk analysis by way of probability / consequence / severity matrix development, risk response planning, risk register summarization, limitations and project recommendation for future course of implementation.
Recommendations
The recommendations proposed for this project on the basis of the outcomes from this project shall include the following –
· Design, develop, enforce and incorporate suitable risk monitoring activities that is applicable all through the course of the project.
· Design, develop, enforce and incorporate suitable risk controlling activities that is applicable all through the course of the project in the event of a risk incidence.
· Development of risk metrics and risk reporting process that shall be undertaken all through the course of this project for effective outcomes.
Analysis
Aims & Success Criteria
This project of undertaking management of the athletics team of Australian team to participate in the Tokyo Olympics planned to be undertaken in 2020 aims in making sure successful participation by the Australian team and ensuring best possible performance in all of the games participated. The success criteria for this project shall lie in [1] ensuring that the all the teams shall perform to the best of their ability, [2] ensuring no unexpected external factors affect to a significant extent, and [3] ensuring all administrative, logistical and team management activities are undertaken without any adverse surprises.

Risk Appetite & Tolerance
The risk appetite of this project can be stated as ensuring successful participation by the Australian team and ensuring best possible performance in all of the games participated.
The risk tolerance with respect to each of the success criteria is as follows –
Table 1 – Risk Tolerance
    S. No.
    Success Criteria
    Risk Tolerance
    1
    Ensuring that the all the teams shall perform to the best of their ability
    Nil to limited / scarce adverse events
    2
    Ensuring no unexpected external factors affect to a significant extent, and
    Nil to limited / scarce adverse events
    3
    Ensuring all administrative, logistical and team management activities are undertaken without any adverse surprises.
    Nil to limited / scarce adverse events
Risk Breakdown Structure
Risk Breakdown Structure (“RBS”) offers tabularized approach to present the risk events in a manner that is structured and organized there in aiding to have better breakdown of the risk event. The same shall aid in effectively controlling, assessing, managing and response planning with respect to each of the risk events (Marcelino-Sádaba et al., 2014; Teller et al., 2014; Cagliano et al., 2015).
RBS is presented in the Table 2 below –
Table 2 – RBS
    RBS ID
    Project Name
    Risk Categories
    Risk Events
    1
    Olympic Games in Tokyo 2020: Australian National Athletics Team
     
     
    1.1
     
    Health
     
    1.1.1
     
     
    Negative implications that is caused to the both athletes and administration staff in the Australian national athletic team in being infected from fungus, virus, bacteria and from other sources. This risk has relevance across all through the project time period.
    1.1.2
     
     
    Negative implications that is caused to the athletes in the Australian national athletic team on account of the injury from playing / practicing and the same making the playing not able to play. This risk has relevance during the game events at the Olympics.
    1.1.3
     
     
    Negative implications that is caused to the both athletes and administration staff in the Australian national athletic team in being suffering from any illness causing performance issues to the players. This risk has relevance across all through the project time period.
    1.1.4
     
     
    Negative implications that is caused to the both athletes and administration staff in the Australian national athletic team in facing accident and the same leading to injuries to the athletes. This risk has relevance across all through the project time period.
    1.1.5
     
     
    Negative implications that is caused to the both athletes and administration staff in the Australian national athletic team in terms of mental depression and affiliated issues affecting their performances. This risk has relevance across all through the project time period.
    1.1.6
     
     
    Negative / positive implications (depending on the impact nature) that is caused to athletes in the Australian national athletic team in terms of required nutrition (insufficiency having negative performance impact and sufficiency having positive outcomes). This risk has relevance across all through the project time period.
    1.2
     
    Practical Aspects
     
    1.2.1
     
     
    Negative / positive implications (depending on the impact nature) that is caused to athletes and administration staff in the Australian national athletic team in being impacted from living conditions based on them being good or bad having ultimately performance impacts. This risk has relevance across all through the project time period.
    1.2.2
     
     
    Negative / positive implications (depending on the impact nature) that is caused to athletes and administration staff in the Australian national athletic team in being impacted from transport facilities based on them being good or bad having ultimately performance / fitness impacts. This risk has relevance during the travel activities of the project.
    1.3
     
    Mental Factors
     
    1.3.1
     
     
    Positive implications that is caused to athletes and administration staff in the Australian national athletic team in being impacted from setting / establishing goal leading to good / effective outcomes. This risk has relevance during the initial phases of the project.
    1.3.2
     
     
    Negative implications that is caused to the athletes in the Australian national athletic team on account of high levels of expectations leading to increased levels of pressure having an impact on the performances. This risk has relevance across all through the project time period.
    1.4
     
    Coaching & Leadership
     
    1.4.1
     
     
    Negative implications that is caused to the athletes in the Australian national athletic team on account of collective levels of sentiments leading to increased levels of pressure having an impact on the performances. This risk has relevance during the game events at the Olympics.
    1.4.2
     
     
    Positive form of implications that is caused to the athletes in the Australian national athletic team on account of relationship levels amongst the team members leading to increased chances for winning the games. This risk has relevance across all through the project time period.
    1.5
     
    Media
     
    1.5.1
     
     
    Positive form of implications that is caused to the athletes in the Australian national athletic team on account of favourable form of coverage from the media leading to better performance increasing chances for winning the games. This risk has relevance across all through the project time period.
    1.5.2
     
     
    Positive form of implications that is caused to the athletes in the Australian national athletic team on account of favourable form of access from the media leading to better performance increasing chances for winning the games. This risk has relevance during the game events at the Olympics.
Risk Probabilities
The qualitative approach to probability assessment aids in evaluating the project risk events to assess the likelihood of the project occurrence and the same shall aid in establishing the risk severity matrix at the individual risk event levels (Muriana & Vizzini, 2017; Liu et al., 2015; Khameneh et al., 2016). The same has been applied for this project and has been presented below –
Table 3 – Risk Likelihood
    RBS ID
    Risk Events
    Likelihood Probability
    1.1.1
    Negative implications that is caused to the both athletes and administration staff in the Australian national athletic team in being infected from fungus, virus, bacteria and from other sources. This risk has relevance across all through the project time period.
    Low
    1.1.2
    Negative implications that is caused to the athletes in the Australian national athletic team on account of the injury from playing / practicing and the same making the playing not able to play. This risk has relevance during the game events at the Olympics.
    Medium
    1.1.3
    Negative implications that is caused to the both athletes and administration staff in the Australian national athletic team in being suffering from any illness causing performance issues to the players. This risk has relevance across all through the project time period.
    Low
    1.1.4
    Negative implications that is caused to the both athletes and administration staff in the Australian national...