Page 144 - DMGT304_EVENT_MANAGEMENT

Unit 6: Risk Management

Purpose Notes

A risk register is a document maintained in order to monitor potential risks.
A risk register tracks the actions taken to minimise risks.
A risk register provides contingency plans that should be invoked if a risk does occur.

A risk register provides details of costs involved in mitigation of the risk
A risk register is a record that may be used for audit purposes to demonstrate that risk
management has taken place.
The register should be kept up to date and reviewed regularly. New risks should be added as
they are discovered. The probability or severity rating of each may be adjusted as the project
progresses.

Furthermore a risk register may provide details of:
The probability that a risk will occur
Severity of the risk, that is the impact that it would have if it occurs.

Time in which mitigating action must be taken in the event of its occurrence
Unmanageability of the risk
Criticality of the risk to the mission of the organisation

6.5.2 The Risk Treatment Schedule

A risk treatment and action plan documents the management controls to be adopted and should
include the following information:
Who has responsibility for the implementation of the plan;
What resources are to be utilised; budget allocation;
Timetable for implementation; .

Details of the mechanism and frequency of review and compliance with the action plan

6.5.3 Conducting an Event Risk Audit

Conducting a risk audit is an essential component of developing an event management plan. A
risk audit involves identifying and assessing all risks so that a plan can be put in place to deal
with any occurrence of any undesirable event which causes harm to people or detriment to the
organization.

A risk audit involves:
checking the proposed venue for possible hazards
observing other similar events to see how participants are likely to interact with the event
environment
reviewing event management systems, policies and procedures and ensuring they are up
to date

interviewing event personnel to check whether they have received appropriate training
Checking the venue

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