Problem:
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.
Question:
The golf tournament is rapidly approaching and things are progressing on time and within budget. The designs were approved, resources are available?you're breathing easy! Alana just stopped by your desk and changed all of that.
The executive management team has just identified a new promotional opportunity that they have decided to pursue. It is an advertising campaign that will air shortly after the golf tournament. Your first deadline is due one week before the golf tournament and will require work from the same three people who are involved 100% in the final golf tournament preparation activities. Betty, one of the lead marketing specialists, will be heavily involved in both sets of activities. Betty does not have a very high stress threshold. You are concerned that she will complain loudly about the work and negatively impact the overall team morale. Based on past experience, you are also concerned that she may refuse to work overtime.
Individual portion: Create a risk plan/action plan to reflect current risks. For the new risks, determine their probability and impact. Be sure to identify the action plans for the high probability and high impact risks.