Decision Making using Risk Analysis
For this assignment, you will use the Circus scenario from the written assignment, which has been included below.
Scenario
You are the proud owner of Wiley Brothers Traveling Circus. It was left to you in your dear Uncle Fred's will. One Ferris wheel, one large big top tent, assorted animals, 27 circus people, and the vans and trucks needed for transportation. It's been financially holding its own but after a year you have decided to expand, upgrade your equipment, and hire a headline trapeze artist from France. You need an influx of cash to make this happen. You have two large private investors and a Florida theme park that would like to invest but wants you to winter every year at their landmark park.
Requirements
Using your own numbers the sheet should include some of the following; profits, income, proceeds, earnings, wages, box office; and expenses, overheads, fees, operating expenses, and fixed costs, etc.
Create an interactive spreadsheet that allows the viewer to change some of the critical numbers to realize the possible risks involved with different variables. As you complete this assignment, be sure to Ask Risk Manager questions. For example how would an increase/decrease in ticket prices affect the financial picture? Does the cost increase with more traveling? How long might the circus stay in one city before the cost of feed, salaries, etc. did not keep up with the box office?