(Mt) – UC Maintain a Backup Plan for Hiring or Contracting New

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View attached explanation and answer. Let me know if you have any questions.1Management QuestionsStudent’s NameInstitution Affiliation2Activity I – Qualitative Risk AssessmentIdentifiedRisk FactorLikelihoodKey teammemberspulled offprojecthighConsequencesRatingRisk Mitigationvery highMaintain a backup plan for hiring orcontracting new employees if one pull out ofthe project.Request that employees work in a variety ofroles in order to prepare them for theunknown.Chance ofeconomicdownturnMediumHighCovid-19 has created recurring economicdownturns; as such, Economic downturnscould have great consequence on the project.Projectfunding cutmediummediumConsider alternate funding options such asbank loans.very highKeep an eye out for any changes and keepyour staff up to date with ongoing projecthappeninglowBy ensuring that project deliverables are wellunderstood and work assignments are carriedout in accordance with competencies.Project scopechangesPoor specperformancehighlowActivity II – Sochi Olympics—what’s the Cost of National Prestige?Question 1No, I disagree with this assertion. The people are effectively paying for the prestige projectsbecause they are government-funded (taxes etc.). Yes, the government should make decisionsthat raise revenue for the country; but, guidelines and processes must be in place to safeguard thegovernment’s money and people. The Olympics are significant because they attract a large3number of tourists and media attentions to your country; yet, how the Olympics are managedmay attract both positive and negative attention. Sochi had a $12 billion budget, but spent $51billion on the Olympics’ development. “How does this influence your local economy?” is themain question. Other countries may view y…

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