Risk Management at the Llondon 2012 Olympics Essays

It is evident that hosting the Olympics games is no walk in the park. The countries trusted with this task have to spend billions to make the games a reality. Some people believe that the countries, even after spending billions of dollars benefit from the games, while others believe that the money can be spent elsewhere more efficiently. To reach a conclusion, one must study all of the different impacts in all of the different sectors the games have.

Before developing a risk management plan an analysis of risk needs to be performed. This analysis should include all aspects of the project that may be part of

In a nutshell, the Olympics have been massively affected over the time span from 1892 to 2002. Factors that enabled this metamorphosis to take place include: political tensions between countries, economic opportunities that arose, and the social impact through the endorsement of Women’s

As a sporting mega-event, the Olympic Games have numerous social impacts on the people, not only on those from the host country, but on individuals all over the globe.

The Olympics is one of the few activities that brings the world together. The Olympics first started in the ancient times, dating back to 776 BC. They were first dedicated to Olympian gods, but modern games are to give athletes an opportunity to show their skill, and for others to enjoy watching them (“History”). The first modern world wide olympics was held in Athens, Greece in 1896, having 14 countries participate, with over 200 total athletes.

Risks management is an important step during the process of a project. Failing to manage a risk may result in unforeseen event happening and a project’s failure. For example, with limited budget, an unforeseen event or an accident occurs in the middle of a project and this matter has not been considered and needs a big sum of expense, then the project may be stopped because of this unexpected event. We should know it is necessary to understand how to identify risks and assumptions based on the information. After identifying risks, it is important for project managers to set contingency plans to prevent and deal with these risks when they occur. Of course, several problems may happen during considering

Risk or threat is common and found in various fields of daily life and business. This concept of risk is found in various stages of development and execution of a project. Risks in a project can mean there is a chance that the project will result in total failure, increase of project costs, and an extension in project duration which means a great deal of setbacks for the company. The process of risk management is composed of identifying, assessing, mitigating, and managing the risks of the project. It

"The Olympics are a wonderful metaphor for world cooperation, the kind of international competition that's wholesome and healthy, an interplay between countries that represents the best in all of us,” said John Williams, the composer for theme music for the Olympics (8). The Olympic Games are international sports festivals that began in ancient Greece. The first ancient Olympics can be traced back to 776 BC when people held this religious festival to honour Zeus, the father of all the Greek gods and goddesses. The participants were male citizens from Greece, and these athletes participated in only one event — foot race. Unfortunately, this ancient Olympics did not last forever. The first olympic in 776 BC in Olympia was an significant event

The UK government developed a strategy in four modules to embrace and mitigate the risks associated with hosting mega events, Olympics in this

Every four years a different country hosts the Olympics. Every two years its either the Winter or Summer Olympics. It is two thousand sixteen and in August, everybody eyes are going to be glued to their televisions when Rio host the two thousand sixteen Summer Olympics in Brazil. Many cities around the world put bids in advance to hold the Olympics. The Olympics are a big deal and you have to have the resources to host it. You need to have facilities for the sports, transportation, Olympics villages for the athletes to stay, a stadium for the opening and closing ceremonies, and most of all money. Cities tend to lose money when hosting the Olympics. Sometimes the facilities they use get abandon and are never used again. They are many reasons for a city to host the Olympics, but there are three reasons to not. Reasons for not hosting it because it is expensive, there no guarantee of profits or increase tourism in the host city, and to many buildings being left abandoned

The Olympics are a set of games that occur every 4 years in the winter and the summer. These games bring countries from all around the world together for friendly competition.

It is no secret that smart organization and long-term thinking played a major role, in the success of the 2012 London Olympic Games. One key area, which enjoyed a discernible boost, was the British economy. Local business enterprises enjoyed increased sales and trade, while new foreign investment escalated.

The Olympic Games are the best opportunity to introduce the UK as an attractive tourist image of the country billions of people.

In order to perform project risk management effectively, the organization or the department must know the meaning of the risk clearly. With regards to a project, the management must focus on the potential effects on the objectives of the project, for example, cost and time (Loosemore, Raftery and Reilly, 2006). Risk is a vulnerability that really matters; it can influence the objectives of the project

The goal for risk management in the event industry should be to allow maximum range of activities to be enjoyed in a safe environment. The golden rule of risk management is to "approach event risk assessment and risk management from the perspective of audience