The For A Good Risk Management Plan - 826 Words

Alcohol and rock concerts often intersected over the course of time; plenty of concerts and festivals have either used alcohol as a sponsor or ancillary revenue. Alcohol and other types of concessions sold at festivals are considered ancillary revenue because it is derived from goods or services other than the primary service or good being offered (What is ancillary revenue, 2015, para.1). Therefore, serving alcohol at festivals is another way for the promotors, event managers, and the venue to obtain additional source of revenue. As the event manager for the Freedom festival, a rock roll festival being held at the PNC Music Pavilion in Charlotte, NC; it is the intention of the festival to provide the patrons with a safe and fun environment to enjoy their favorite music. The basis for a good risk management plan is providing a risk assessment for the event before determining how to address the possible risks. â€Å"A risk assessment is a process to identify potential hazards and analyze what could happen if a hazard occurs† (Risk Assessment, 2015, para.1). Therefore, the risk assessment will be used to identify the possible problems that can arise from alcohol. The Freedom Festival event planning committee is aware of, and concerned about the risks and issues that are associated with the availability of alcohol throughout the course of the event, so they plan is to create a risk management plan to address these risks. Violence, alcohol poisoning, drunk driving, underageShow MoreRelatedEffective Management Of Project Risk Management1435 Words   |  6 PagesGood Risk Management – Good governance This article describes the effective management of project risks in an educational institution. 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All projects involve risk and the ones that succeed generally do so because their leaders do two thingsRead MoreRefurbishment Of Broron Oil And Gas Limited Three Storey Building1675 Words   |  7 Pagesprocurement system in delivering a good standard office apartment for boron oil and gas limited. The scope of this project is to design and construct and appropriate office structures. Which involves different stages of work in these projects? Our task involves †¢ Planning a risk management plan †¢ Creating a risk register and a risk response plan. †¢ Identifying possible risk project and procurement strategy. †¢ Undertaking qualitative and quantitative risk analysis. †¢ Risk tracking and monitor control.