The Situation/Business Scenario You’re managing the development of a four-episode video series

The Situation/Business Scenario

You’re managing the development of a four-episode video series production at Famously Funny. The project must wrap up by the end of the 14th week, but you’ve just received word from the director, Sara, that the script writers need extra time.

It’s up to you, as the project manager, to decide how you will manage this situation so that you can complete the film shoot on time, within budget, and with all of your stakeholders satisfied.

If you may be helpful to have the Famously Funny LLC slide deck open in another tab, so that you can reference it while you complete this experiential assessment.

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Part A: Identify Risks

Given the situation, your project timeline, and your constraints, first:

Identify three new project risks you are now facing.

Risk description

Risk cause

Risk category

Here is the project timeline, for your reference.

Part B: Analyze Risks

At this point, go through the risks you just identified and perform a probability and impact assessment. For each risk, provide the following (on a scale of one to five):

A probability score

An impact score

A risk score

A risk priority level

Use the following table as a guide:

Risk Priority

Risk Score

High

15 – 25

Medium

10 – 14

Low

0 – 9

Part C: Plan Risk Responses

Now it’s time to develop risk response plans for the two highest-priority risks you analyzed.

Your risk response plans should include:

A clear risk response strategy, detailing the actions to take when implementing the response.

A clear description of the trigger condition.

At least one of your risk response plans, when implemented, must:

Satisfy the director’s creative request to add an additional round of edits for Episode 1 while also ensuring that the video project is still scheduled to launch by Friday of Week 14.

The project schedule is below:

you currently have:

Four people on the writing team.

Three people on the film crew.

Based on this information:

Should you hire additional writing team members (scenario 1) or additional film crew members (scenario 2) as a part of this risk response plan? (See the slide deck to review scenario 1 and 2).

Which scenario will enable you to complete a new round of Episode 1 edits and still allow you to launch by the Friday of Week 14?

Part D: Implement Risk Responses

Finally, you need to manage the risk implementation process in Asana. For the two risks you planned responses for:

Assign each one to a risk owner in Asana.

You can assign work to the following team members or assign tasks to yourself as the project manager:

Ainye Baker (your lead writer and point person for new hires to the writing team).

Lavar Maddocks (your lead film production member and point person for new hires to the film crew).

Jamie Klender (your lead editor and point person for all postproduction work).

Veronica Warsing (your QA intern).

Provide at least two subtasks for each risk response.

These subtasks should break down the implementation of the risk response into more manageable chunks.

Assign these subtasks to the same risk owner.