Reference no: EM133035875

Resort Development Risk Management Plan

This group assignment aims to develop your understanding of project risk analysis and its application to a new proposed tourism resort project. Assume that an Italian foreign investorplans to construction, own, manage and operation a new 4-star resort in Aitutaki at an outstandingly beautiful lagoon location with a white sandy beach. Guests staying at the resortwill have panoramic views over the ocean and across the water to neighbouring pristine tropical islands covered the virgin forests.The investor plans to design and construct a best practice environmentally friendly world class beach resort that meets the criteria and standards for green hotel certification by the leadinginternational green hotels certification agency. She aims for it to be a role model in excellent resort architectural design that aims to minimise negative environmental impacts. The resortwill produce its own solar energy, recycle kitchen wastes and will have its own large vegetable garden for growing food for its guest to enjoy in its restaurants. The buildings will beconstructed with maximum use of local building materials.

The resort will target environmentally conscious guests and cater for family holiday makersmainly from Australia and New Zealand. It will offer a full range of water sports, whale watching, sea kayaking adventures, sailing, fishing and diving and cultural village tours. It willhave a small marina and the resort will own two fishing and two diving boats. The resort will have 50 fales that accommodate up to six persons, a Polynesian and Italian restaurant andtwo bars, two swimming pools with one suitable for small children.

Describe how to undertake a risk assessment and risk management plan for this project.Review and describe the following types of risk that may need to be investigated and evaluated in terms of likelihood of occurrence and magnitude of impact

1. Site risk

2. Design and Construction risk

3. Partner and Financial risk

4. Operating risk

5. Market or Demand risk

6. Network and Interface risk

7. Industrial Relations risk

8. Legislative and Government Policy risk

9. Force Majeure risk