Risk Management Plan


Risk Management Plan

  1. Establishing the Context
    • External Context
      • Economic Aspect of the Event

The Jallikattu is a famous traditional spectacle in the Indian state of Tamil Nadu that is affected by multiple external factors such as political, economic, socio-cultural, technological, environmental as well as legal aspects. To begin with, the event has spawned its own economy that has significant implication in the region where it is mostly practiced. First, bulls have become a major asset due to the event. The farmers invest in taking care of the bulls and making them strong to perform at the event where the price of the bull goes up depending on its performance in the sport. For example, a bull goes at Rs 15,000 and the cost of rearing it is around Rs 300 per day. If it win prizes, the price of the same bull can go up by a few lakhs (Pandian, and Kalaiyarasan, 2013).  Besides, Jallikattu is a commercial event that involves huge investments as well as attract a huge population that impact the promote the economy through consumption. To organize the event, it is estimated that around Rs 5000 to 20 lakhs is spnt (Pandian, and Kalaiyarasan, 2013). The event, therefore, has an enormous implication on the rural economy.




Risk, Crisis and Disaster Management
Assignment 2: Risk Management Plan (Group Assignment)
Due Date:  8 October at 17:00
Weight:  40%
Word limit: 4000 words (+/- 10%)
Task Description:
In groups of 4-5 students, you are required to select a future event for which to structure a risk
management plan. The selected event should provide enough complexity to allow the group the
possibility to develop an appropriate risk management plan. It is expected that your plan will
integrate key concepts from the course and provide examples from the literature to illustrate
and support statements.
Groups must be formed within the workshop and all groups should be formed by week 7.
Suggested structure for the assignment:
(1) Title Page
(2) Executive Summary (Approx. 400 words)
(3) Table of Contents
(4) Introduction (Approx. 250 words)
(5) Establishing the context (Approx. 1200 words)
(6) Risk Assessment (Approx. 1400 words)
(7) Risk Treatment Options (Approx. 650 words)
(8) Conclusion ((Approx. 100 words)
(9) List of References
(10) Appendices
You are required to present your progress with the Risk Management Plan during your
scheduled workshop (Weeks 11 & 12). While the presentation is not for assessment, it is an
important opportunity to get feedback.
Groups should be formed and events should be chosen by March 22.
A. Choosing your event
– You can choose nearly any commercial FUTURE event!
– You are not allowed to choose any of the events used in classroom discussions (Running of
the Bulls, La Tomatina, Glastonbury)
– You are not allowed to choose events that other groups have chosen.
– You should consider those events that at least one person in your group knows well.
– You should consider those events that have enough information about them.
– To ensure the event you select is appropriate you will need to confirm it with the lecturer/tutor.
B. Structuring your Assignment

1. Title Page
The title page should include at least:
– The title of the Assignment
– The names and student numbers of all group members
– The word count (excluding your risk assessment table and list of references)
2. Executive Summary
This section should provide a concise, engaging and clear summary of the main points
presented in the RM plan. It should briefly cover the aim, methodology, and the findings of the
3. Table of Contents
4. Introduction
This section should provide an engaging introduction to the topic of risk management and the
importance of risk management plans.
It should include at least:
– A brief discussion/introduction to risk management and risk management plans
– The main purpose of the plan
– The structure of the the plan
5. Establishing the context
This section should start with a brief introduction to the section explaining the importance of
establishing the context for the purposes of risk management. The section should be divided in
two parts:
5.1 Internal Context
This subsection should provide a description of the event with clear information about its
main features (date, time, duration, location, venue type and description, size, target
market, activities included, characteristics etc), risk management relevant history and
the description of the organization.
5.2 External Context
This subsection should provide a discussion of the external context within which the
event occurs. You should discuss major trends in the following aspects: political,
economic, socio-cultural, technological, environmental and legal.
6. Risk Assessment
This section should begin with a brief introduction to risk assessment. It should be divided in 3
6.1. Methodology
This subsection should explain what you did and how you did it. It should include at
least the following:
– A description of how you conducted the risk identification step
– A description of how the risk analysis was conducted (how risks were analysed, how
probability and impacts were measured, introduce your scales and the matrix used)
6.2. Results
This subsection should at least:
– Present the risk assessment table with at least 20 risks identified, the risk matrix with
the risks plotted.
– Provide an overview of the results of the risk assessment (for example: comment on
the types of risks identified, overall level of the various risks etc)

6.3 Discussion: the main risks of the event
This subsection should provide a detailed discussion of the 2 main risks of the event.
For each risk, you should provide at least:
– a definition/description of the risk
– a discussion of the existing controls
– a detailed justification for the values of probability and impact
– clear evidence of a wide range of relevant, current and credible sources and
examples used to explore the main risks.

7. Risk Treatment Options
This section should offer comprehensive treatment options for the 2 main risks supported with
convincing arguments. It should start with a brief introduction to risk treatment. For each risk
you should:
– Identify and justify the risk management strategy
– Include a set of recommendations that correspond to the action plan for the chosen
8. Conclusion
This section should summarise the key points in the discussion, present the implications of your
findings and finalise the plan.
9. List of References
This section should include all the references used in the risk management plan. A minimum of
20 references is required.
Citation and referencing should conform to the APA (American Psychological Association)
format both within the plan and the reference list.
10. Appendices
This section should include all relevant documents that might help support your arguments.
Examples of potential appendices include maps, site plans, timeline of the event, relevant
pictures etc.
C. Preparing your presentation
As a part of the preparation of the risk management plan you are required to prepare a 5-10
minute presentation on the progress of the risk management plan. Not all group members are
required to present.
You should prepare a very simple power point presentation with at least the following:
– The event chosen
– The internal context of the event
– The external context of the event
– The 3 risks that you will be focusing on and a brief analysis of those risks
D. Preparing your submission
Assignments are to be submitted electronically.
Please submit your assignment in the following format:
Font: Arial or Times New Roman
Font Size: 12
Spacing: 1.5
E. Peer evaluations

Peer evaluation scores will be used to moderate the mark that you as an individual receive for
this assessment item. You will evaluate your own contribution to group work, and the
contribution of each group member, via the SparkPlus app in L@G.
You must complete your evaluations in SparkPlus before the closing date (October 14) or
standard late penalties will apply.
All evaluations are strictly confidential – how you rate or what you say about your group
members will not be passed on to the other group members. Feel free to be honest.