XSU Spring Concert You are a member of the X University student body entertainment committee. Your committee has agreed to sponsor a spring concert. The motive behind this concert is to offer a safe alternative to Alta Vista Baby (AVB) Week‐end, a spring event in which students for X University rent houseboats to engage in heavy partying. Traditionally this occurs during the last weekend in May. Unfortunately, the partying has a long history of getting out of hand, sometimes leading to fatal accidents. After one such tragedy last spring, your committee wants to offer an alternative experience for those who are eager to celebrate the change in weather and the pending end of the school year. You have just finished a preliminary scope statement for the project (see below). You are now brainstorming potential risks associated with the project. 1. Identify potential risks associated with this project. Try to come up with at least ten different risks. 2. Perform a risk assessment to analyze identified risks. 3. Develop a risk response matrix to outline how you would deal with each of the risks (only the 5 five most important).
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
XSU Spring Concert
You are a member of the X University student body entertainment committee. Your committee has agreed to sponsor a spring concert. The motive behind this concert is to offer a safe alternative to Alta Vista Baby (AVB) Week‐end, a spring event in which students for X University rent houseboats to engage in heavy partying. Traditionally this occurs during the last weekend in May. Unfortunately, the partying has a long history of getting out of hand, sometimes leading to fatal accidents. After one such tragedy last spring, your committee wants to offer an alternative experience for those who are eager to celebrate the change in weather and the pending end of the school year. You have just finished a preliminary scope statement for the project (see below).
You are now brainstorming potential risks associated with the project.
1. Identify potential risks associated with this project. Try to come up with at least ten different risks.
2. Perform a risk assessment to analyze identified risks.
3. Develop a risk response matrix to outline how you would deal with each of the risks (only the 5 five most
important).
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