We usually gather together, enjoy shows presented by people from different nations and eat the traditional food “moon cake”. This festival aims to gather families in China, and for us oversea students, to gather together is really a meaningful way. Thus our association takes responsible for it and prepares for it every year. However, this project has risks from all three organizational, technical and economical risks. First, our organization has different departments from IT, communication, public relation departments etc.

Therefore negotiation among deferent departments appears to be a problem. It is a festival in September, when graduate students Just start the new fall semester. All the staff are busy and the time is not enough so that we have to start preparing from June. This leads to another problem that some of us may be back to China In the summer. This Is one organizational risk, which may leads to failure of organizing a successful party. This risk’s priority is medium and the urgency is relatively low. Secondly, the party has shows and we need to decorate and arrange the avenue.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

The lamplight’s and sound effects are really technical risks for us. We do not have expertise in those aspects and we may choose to outsource the avenue and stage things, but that will lead to the third risk – economical risk. We offer dinner, moon cakes as dessert, shows and drinks, including other avenue fees, staff, decoration, promotion etc. , so finance is a risk for us. Although we sell tickets, the price is low and it is not the main financial source for our event. We need to figure out other financial sources.

The priority and urgency for technical risk and economical risk are both high. These are three distinct risks that always occur In this annual event. Last year, our organization attempted to mitigate the organizational risk by assigning a project manager to take charge of It and setting strict plans and deadlines. We had one spectral person Trot every department to De responsible Tort It Ana we nope t could mitigate the negotiation problem among different departments. Once one staff was not available, he/she may have someone else in the same department to replace IM/her.

As for the technical risk, we tried to let two of our officers in the IT department learn to use the equipment, but for the most difficult parts we still decided to outsource. That could reduce our costs to some extent and might consequently reduce our economical risk a little. Moreover, these IT officer within our organization could teach others and this problem might be solved when holding other events. To reduce our economical risk, besides attempted to cut our costs to a minimum level, we also seek other ways to finance our event.