Case Scenario:
You are a project manager in the marketing department for a global investment management firm, LRH Financial. The company is launching a multi-million dollar TV and print marketing campaign, which will include sponsorship of major golf and basketball tournaments. You have been discussing the project with the VP of Marketing, Alana Shapiro. Alana just informed you that the company’s vendor relationships have enabled them to make arrangements for Terrence Smith, a world-renowned golf champion, to be the company’s spokesperson. The first golf tournament is being held ninety days from today. You will need to complete enough planning to begin work on the golf tournament marketing.
You have been involved with several projects that have had tight deadlines in the past. This one is slightly different in that it involves a celebrity figure with a demanding schedule. Plus, you are already working under very tight project deadlines.
This is a critical project for LRH, and you are honored (and a little nervous) to be the project manager. This project is part of a larger strategic initiative to reach new markets and grow the company’s revenues over a three-year period. The budget for the project is clearly defined and seems to be adequate. Senior leadership is supportive of the project. However, they have not reached clarity or consensus around the specific scope and objectives of each portion of the campaign. While that will be worked out during the initial phase of the project, you need to move forward aggressively with the upcoming golf tournament.
You will need to carefully identify, monitor, and control the risks for this project to ensure that the marketing campaign can be released on schedule and within budget.
Make use of the information from the scenario to prepare a persuasive presentation for your discussion with Paul. The presentation should be 15 minutes long (3 to 5 slides) and address the given items:
1) Project overview and why risk assessment for this project is important (address risk management and its misconceptions)
2) Needs and benefits of risk management for the project
3) Rationale for completing risk management activities for this project
4) Basic risk management activities and risk management process for this project
5) Impact that risk management activities will have on your project management activities
6) Paul's role in risk management