Essay Sample on Risk Identification and Management: Cleveland Fitness Centre

Reading the Cleveland Fitness Center case study, it is evident that the need to upgrade the fitness center was justifiable and noble businesswise, but the execution of the project was marred with multiple faults. One of the major risks they did not consider was the loss of clientele following the projected long period under which the fitness could not be accessed. Secondly, they failed to incorporate and follow the basic rules of project management, especially effective planning, step-wise implementation of the plan, effective monitoring, and objective-oriented evaluation. Thirdly, the team selected for heading and conducting the project implementation process were also assembled on bases of convenience rather than competency in their assigned positions. Fourthly, the project was destined to a blemished rollout right from the beginning based on the obvious lack of cooperation and collaborative approach in the implementation of the project. Persons or groups assigned the task worked singly instead of having a harmonized approach for the project, which created inconsistencies, complicated accountability, and hindered amicable on-time interventions to the challenges once identified (Hillson, 2009).

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In handling the risks, the business founder and director (Tom Grant) often looked for quick-fix solutions by bringing onboard entities whose qualifications misplaced for the assigned roles. The budget constrains compromised his ability to go for quality services, which in the end resulted in wastage of resources with unsatisfactory output. The negative publicity by the local media, loss of clientele to competitor fitness centers, and drained Cleveland account further worsened the possibility of the business to regain ground and clients. In the end, it can be argued that their ambitious yet poorly planned and implemented plan was their undoing.

Having identified the notable risks, which were poorly handled, leading to the collapse of the business, it is possible to make reasonable and feasible recommendations on how such a scenario could have been handled differently. Firstly, it is prudent to have all the players expected to implement the project involved in planning the project. The planning process should not be hasty but should capture the insights from all the plays, including addressing notable loopholes amicably (Van-Well-Stam et al., 2014). Secondly, the project should be rolled out in phases; each phased clearly identified with objectives, targets, and goals for effective monitoring and evaluation (Hillson, 2009). Thirdly, when outsourcing services, the project manager should consider the competency, capability, and availability of the possible entities to guarantee quality outcomes. Besides, it is also prudent to match the project with the available resources to avoid overly ambitious projects that will stall for lack of resources.

In conclusion, the Cleveland case study highlights a real-life example of an unsuccessful projected marred by poorly managed risks. Therefore, it is crucial to identify risks on time and come up with risk mitigation strategies, appropriate interventions, and effective monitoring to realize the targeted project goals.

References

Hillson, D. (2009). Managing risk in projects: Fundamentals of project management. Gower Publishing Limited.

Van-Well-Stam, D., Lindernaar, F. & van Kinderen, S. (2014). Project risk management: an essential tool for managing and controlling projects. Kogan Page Publishers