Nigeria’s Olympic Games Risk Management Report, Essay Example

Schedules, Resources and Risk Scope Plans

The Organizing committee will develop schedules, resource and risk scope plans that are specifically tailored for each event and risk event following a unanimously agreed upon strategy and criteria.

Schedules

The schedules for each of the events starting from the opening ceremony to the closing ceremony will be arranged according to the popularity of each event (Jennings, 2012). The events will be scheduled according to the following criteria:

• Popular events receive the prime time spots, i.e. popular events such as the 100m, 200m, 400m and marathon races receive the time slots between 5pm and 11pm GMT
• The finals for these popular events will receive most of the time slots on the final 4 days of the Olympic Games events
• Popular events will receive the biggest and most popular sites

Resources

Resources will be allocated to departments depending on the impact and need for the department in the effective and efficient running of the Olympic Games program.

Risk Scope

Each department will be required to identify and document all risks that may be associated with its operations. All these risks will be arranged according to the gravity of the impact of the risk on its occurrence and the possibility of each risk to occur.

Security of Participants

The participants are by far the most important assets of the Olympic Games. As such a detailed and elaborate security plan has been developed for each group of athletes.

• The participants will be received by a security detail upon arrival.
• Each group of participants will be transported in a designated vehicle according to the size of the team.
• Each team will be transported to a designated place of accommodation that should be within close proximity to their designated venue of events in which they are expected to participate.
• The place of accommodation for each team will be only for the designated teams and will not be shared with any individuals apart from fellow participants.
• These places of accommodation will constantly be manned by a well-equipped security detail
• Transportation to the venues for the events will be provided in designated vehicles, also under a security detail.
• The changing rooms for the participants will be restricted to the participants and their coaches.(Great Britain, 2007)

Potential Risks

Geopolitics and Security

Previous Olympic related events have been faced with a rise in diplomatic incidents. Such incidents usually leads to potential underlying problems and difficulties for event organizers and managers. The most recent incident was during the Olympic Torch relay in China in 2008. This only stems to highlight how the Olympic Games and the Olympic brand may act as an emblematic platform for protests from revolutionists, a venue for international tensions and a highly potential mark for terrorist threats and attacks. This is compounded by the fact that the Olympic Games receives a wide television and media coverage.

The geopolitical and security risks that are associated with the Olympic Gameshave been existent according to historical experience. Notable geopolitical issues with the Olympic Games include the boycotts of the Cold war and Apartheid era. Terrorist attacks on the Olympic Games from previous years include the Munich Olympic Games of 1972 and the Atlanta Olympic Games of 1996.

In the case of Nigeria, there are numerous variables that are underlying and may cause problems for the Olympic Games to be hosted in the country. Nigeria has in the recent past spiralled into instability.

The Oil Industry

The nation of Nigeria is the most populous nation and the largest producer of oil in the African continent. The oil rich nation has had its fair share of geopolitical problems and issues arising from its vast oil production. The oil industry in Nigeria has most recently attracted the attention of the international community (Akorede, 2004).

Since 2006, the oil export industry has experienced a 20% drop in oil export as a result of militant attacks on the oil industry (Akorede, 2004). There have been offensives on the Niger River Delta that is rich in crude oil. This has led to increased insecurity in the Niger River Delta region as these attacks pose the potential risk of a colossal catastrophe due to the volatile nature of the oil mineral.

The major reason, purpose and drive for these militants is the manner in which the wealth generated is shared. The huge portion of the national cake that is received from the oil mining industry goes to the multi-national oil mining companies with less than 5% reaching the average citizen. This creates for a very huge security risk for the nation at large and the Olympic Games (Mills, 2008).

The Olympic Games are an international spectacle that attracts enormous media attention. The television coverage alone is enough to generate enough attention to any issue that is underlying in the country at the moment. Should the games be hosted in Nigeria, these militants may seek to have their agenda known and given the attention they feel it is deserving. As such, the games would be under increased risk of attack from these militants as they seek to have their grievances heard.

Religion

An issue that is of major interest and possibly the biggest threat to the security of the Olympic Games in Nigeria is the huge rift between the two major religious groups in the country, Christians and Muslims. The Christians dominate the southern part of Nigeria while the Muslims dominate the northern part of the country. Goodwill between the two groups has not been an easy development. The major part of Jos, found in Nigeria’s Middle Belt is largely segregated. Notably, actions and statements from the religious leaders of the two religions have in the recent past been seen to encourage violence. This violence has led to attacks and revenge or retaliatory attacks between the two groups. (Akorede, 2004)

The underlying religious tension between the Northern and Southern part of Nigeria may possibly spill over into the Olympic Games and affect the progress of the preparation and schedule of the Olympic Games.

The Nigerian Divide

The nation of Nigeria is undoubtedly divided along ethnic and religious lines. However, the North-South divide is far much greater than religion and ethnicity. The people living in the northern region are majorly plagued with an inadequate access to education and the undermining of their local industry. The education system in North Nigeria is by far inferior and inadequate. Additionally, due to the dominance of the oil industry in Nigeria, which is predominantly in the south, other local industries in the North have been undermined and receive little to no attention from the central government.

According to the Nigerian Central Bank, the highest levels of poverty in Nigeria, exist in the North. Statistically, 95% of the people in North Nigeria are classified as poor, with 75% livening below $1 a day (Akorede, 2004). The levels of literacy reduce drastically as one moves from the South toward the North. The main source of income of Northern Nigerians is government subsidies, grants and donations.

This led to the formation of insurgent groups that aim to bridge this disparity and institute a Salafist government that is founded on Sharia law. This is mainly due to the fact that the North is predominantly Muslim. These groups have been behind recent bombings and attacks in the country.

The Olympics Games aim to provide a fair, safe and entertaining sports events. These groups are against every virtue and values of the Olympic Games. As such, they pose a huge threat to the infrastructureand security of the Olympic Game events and programme (Mills, 2008).

Infrastructure and Construction

Infrastructure is by far one of the biggest determinant of a successful Olympic Games. All facets of the Olympic Games are determined by the level of infrastructure of the host country. Nigeria is an economic powerhouse in the continent of Africa but it still faces major challenges in different facets of its infrastructure. This can be clearly seen in the inability of the government to deliver basic social services. The country’s poor quality infrastructure hampers significant growth of the economy. This will definitely affect the preparation of the Olympic Games and the ability of the response agencies towards crises and emergencies.

Power Supply

Nigeria continues to increase the number of power generation plants to cater for the increasing demand for electric power as a result of an exponentially growing population. However, there hasn’t been any conscious effort to replace, improve and extend the weak and aging transmission and distribution facilities and network (Business Monitor International, 2005).

Even though the country aims at increasing the capacity of electric power, the current distribution and transmission facilities cannot cope with and/or carry the expected load. As a matter of fact, according to statistic, the gap between the power generation capacity of the nation and the transmission grid capacity is expected to broaden over the next three years.

This disparity between power supply and power distribution may prove to be a huge challenge. This may present the potential risk of inadequate power supply characterized by power outagesduring the Olympics Games. This will lead to a huge and significant disruption in the flow and synchronizations of events. The sporting events are usually synchronized and scheduled such that any slight delay may lead to a disruption of the whole programme. It is essential that power supply be maintained throughout the programme.

Road Network

The road network plays an important role in determining accessibility of the Olympic Games facilities to the athletes, organizers and the general public. Nigeria’s road network that is 194,000 kilometres has been rapidly abating over the past decade. Most of the road accidents in Nigeria are due to the bad state of roads (Business Monitor International, 2005). A perfect example is the Warri-Port Harcourt Road. It is characterized by numerous motorists who try to manoeuvre the crumbled main arterial highway. Certain bad sections of the bad roads usually experience a 6-hour jam. Robbers and thieves take advantage of this and rob stranded motorists.

The major defects in Nigeria’s road network include non-uniform lanes, improper road signs and road markings, inadequate road shoulders, uneven pavements, construction negligence and malfunctioning traffic lights in the major cities. This is further compounded by the lack of observation of traffic rules such as the flow of traffic, the use of substandard materials in the construction of the roads and the poor foundations for the roads. These have been the cause of increasing accidents in the country.

The bad conditions of this roads will affect accessibility to the stadia and events. In the case where emergencies arise, such as health emergencies that will require a patient’s delivery to the emergency unit of a hospital, ambulances will find a much difficult time. The bad roads and the traffic jams will hinder the delivery of health and emergency services. The poor road network will pose a huge and unavoidable risk in the construction phase of the stadia. This is because the construction material will have to be transported to the construction sites. Furthermore, the increasing number of road accidents poses great risk to athletes and incoming visitors.

Financial Risk

Financial facets of a mega event such the Olympic Games have to be put into considerations.Even though Nigeria is economic powerhouse in the African continent, pulling off a mega event of this magnitude attracts major financial risks. The precise measurement of the cost of the Olympic Games in Nigeria is a topic that is open to interpretation depending on how one chooses to value it.

The manner in which the Nigerian government and/or an Olympic committee that has to be instituted will choose to value the project, they will have to decide how the project will be valued (Cooper, D. F., & New South Wales, 1994). The Olympic budget may be valued according to the projects that are directly involved in the Games, i.e. the stadia and Olympic Games facilities. However, the project budget may be extended to include road infrastructure and supporting services. This may also include the operational costs of the organizing committee.

The organizing committee will then forecast the sponsorship, ticketing and broadcast venues. Of interest is the ticketing forecast. The ticketing forecast will influence the economic and financial viability of hosting the games. The revenue from the tickets determines this.

Nigeria is a considerably resourceful nation. However, the country does not have enough of a home crowd that can ensure the profitability of the project. In order for the project to be successful, there has to be enough of a home crowd to be able to purchase the tickets to ensure profitability notwithstanding the expected visitors and influx of tourists. The notable statistic of 75% of North Nigeria living below $1 a day cannot be ignored. This will force the organizing committee to price the tickets at a much lower price for locals to ensure an ample home crowd. This poses a huge financial risk for the Olympic Games project.

Licencing and Sponsorship

One of the most vital source of income for the Olympic Games is the revenues generated from sponsorship and licencing. This is an important facet of the Olympic Organizing Committee (IOC). The IOC in its mandate expects that any and all nations hosting the Olympics will by all means protect all the interests of the licences and sponsors. It is essential that Nigeria’s organizing committee developsa legislative act that will protect these interests. This act would be the foundation of the regulation trading and advertising that averts and mitigates ambush marketing. Borrowing a leaf from the strategies of Sydney 2000 and London 2012, the strategy should effectively limit trade and advertisements to within the licenced marketing schemes. (Tarlow, 2002)

However, with the current economic and legal status of the nation of Nigeria, there is a huge and innate risk in the operating budget of the Nigerian Organizing Committee/ this is with special regard to domestic sponsorship and broadcasting venues.

Firstly, there is the questionable ability of the nation to pull together the kind of resources for the local sponsors to be able to undertake the better portion of the operational costs of the Organizing committee. This would definitely limit the ability of the Organizing Committee to fund its operations in time. If and only if external and international sponsors step in, the Olympic Games would be behind schedule. This poses considerable financial risks for the Organizing Committee

Secondly, the political will and legal ability of the Nigerian ability to develop and uphold licencing laws and regulations is questionable. It is essential that ambush marketing be mitigated if not averted to avoid loss of income for the sponsors. In the case where the government fails to control this kind of marketing, sponsors would not only lose income but may also lead in the sponsors pulling out as was the case of the Australian Bicentennial in 1988 and Atlanta 1996.

Risk of Fluctuations in Foreign Exchange Rates

Funding and revenues projected at the inception and planning stage for the Olympic Games are done with the consideration of inflation. However, one facet of this inflation, foreign exchange rates, can be very unpredictable. This is because the fluctuation of foreign exchange rates is subject to global political and financial factors that are very erratic. An example is Vancouver 2010 where the organizers endedup losing up to the tune of $150 million in international sponsorship and broadcast revenues. This was owing to the fact that the value of the Canadian Dollar plummeted in value (Cooper, D. F., & New South Wales, 1994).

Value of the Nigerian Naira is particularly prone to these exchange rate fluctuations. This is because Nigeria’s chief produce and export is oil. Global oil prices are quite erratic and are very sensitive to any political and global financial factors. The Nigerian national or local government will have to the backer of last resort to offset such fluctuations. This provides huge disincentives for the organizers of the Olympic Games. This is because the when the mandate of the management of risk is delegated to a third and unreliable party, particularly government, who has to take care of the bill, organizers are at a high risk of loss as was the case of Vancouver 2010.

Unquantifiable Economic Benefits

There are economic benefits that are associated with hosting of successful OlympicGames. These economic benefits far outweigh the costs and the revenues generated due to hosting the Olympic Games (Great Britain, 2007). These economic benefits usually include reputation and prestige. However, reputation and prestige are two factors that cannot be quantified let alone be defined objectively. There is usually a ripple effect on the economy that is caused by hosting successful Olympic Games. This ripple effect is caused by an economic multiplier effect on local industries within the host Nation. However, according to research, pre-mega event economic studies, this multiplier effect that is usually projected by most economists is usually largely inflated.

There is a huge problem with post hoc models that interpret the economic effects of hosting the Olympic Games. This is largely because a counterfactual setting on which one can draw comparisons is non-existent. This is because the Olympic Games have already taken place and previous Olympic host nations cannot be used for comparisons due to the existence of many variables. An example is the crowding out of investments that may be present in other sectors as a result of hosting the Olympic Games is largely unquantifiable.

The fact that an upsurge in economic conditions is mostly experienced for many host nations may be purely coincidental or may reflect on the IOC’s ability to select host cities that are on the upward economic curve. Nonetheless, even if the economic benefits are unquantifiable, there is an assured regional economic legacy and supremacy that is associated with the private and public sector channellinginvestments around the Olympic sites.

Public Opinion and Reputational Risk

The IOC bid assessment considers public opinion as an important facet of the Olympic Games hosting. The popularity of Nigeria hosting the Olympic Games may not be competitive enough against popular opposing nations such as Rio de Janeiro, Brazil. There are many underlying political risks that the public recognizes.

Furthermore, there are other economic risks that the local public of Nigeria may not be willing to incur in the case where an Olympic site is chosen. If for example, Abuja is selected as one of the Olympic sites, once the bulldozers and the construction team arrives in the area, tax bills by the local council are assured to go up. Public opinion may take a huge dent as residents may not be willing to incur this tax (Larkin, 2008).

The vulnerability of Olympic organizers to dissent and protests cannot be ignored as was reflected in the national uproar over the £400,000 price tag for the London 2012 Olympic Logo and the international controversy over the Olympic Torch’s tour before Beijing 2008.

Classification of the Risks

The above identified risks are classified into two major risk groups;

1. Quantitative Risks
2. Qualitative Risks

Quantitative Risks

• Infrastructure and Construction
• Risk of Fluctuations in Foreign Exchange Rates

Qualitative Risks

• Geopolitics and Security
• Public Opinion and Reputational Risk
• Unquantifiable Economic Benefits

Quantitative Risks

The quantitative risks are those risks that can be valued in economic and financial terms. These risks are much easier to manage for the IOC. This is because these risks are far much tangible and can be solved by increased funding or reorganization and reallocation of resources between different departments of the organizing team.

Infrastructure and construction is a quantifiable risk as the government of Nigeria, the IOC and the relevant sponsors can pool resources to improve and hasten. The improvement and expansion of Nigeria’s road network and the improvement of the capacity of the electric supply grid, can both be quantified in an economic and financial sense.

The fluctuation of exchange rates is a risk that can be quantified in a financial sense. This is because it is influenced by the economic and financial cycles that can be predicted by economists and appropriate measures taken to safeguard against them.

Qualitative Risks

The qualitative risks are those risks that cannot be valued in a financial and economic sense. These risks are much more difficult to manage for the IOC. This is because these risks are intangible. They are influenced by factors that are more difficult to control such as public opinion.

Geopolitics is an intangible risk as it is purely dependent on the opinion of the citizens of Nigeria. The societal complexities in the country cannot be quantified as most of them have been existent for a long time. It is difficult to handle these risks with financial assets as they run much deeper than financial compensation. Most of them involve the very identity of the citizens of Nigeria, such as religion and ethnic background.

Security in this case is a qualitative risk as it is influenced and caused by qualitative factors. Though there are quantitative aspects to it as resources can be directed to given areas to mitigate and avert the risk. However, in order to accomplish this, the amount of financial resources that would be required would be immense.

Public Opinion and Reputation is purely qualitative. This is because public opinion in this case is influenced by both geopolitics and security. This means it is open to an individual’s perception and interpretation.

The unquantifiable economic benefits are purely qualitative. This is because a value cannot be placed on the economic benefits that may be generated as a result of hosting the Olympic Games. An economic legacy has been identified as one of the unquantifiable economic benefits, this is because the extent of the economic legacy is one that will continue years after the Olympic Games. This cannot be valued as it is open to influence of many unknown variables.

Simulation of Risks

An important aspect of risk management is the simulation of the risks. This aids in indicating the possible impacts of the risk on the events should the risks occur. This helps the organizing committee and the relevant authorities to better understand the depth and scope of the risk on its occurrence and how best to avert or mitigate the risks. The simulations of the risks is purely dependent on the type of risk.

Simulation of all the identified risk will involve exposure of all facets of the Olympic Games including the Olympic sites to the given risks in a bid to identify the extent of the risk, its impacts and ways in which the risks can mitigated.

Security

There are numerous variables that have been identified as possible triggers for the emergence of scenarios that may compromise security (Tarlow, 2002). These security triggers have all been noted to cause security situations that may involve either of the following security scenarios:

• Hostage situation
• Terrorist attack
• Stampede
• Riots

The simulations that will take place, will be undertaken in the following areas:

• Hotels
• The Olympic Sites (inside and outside)
• Airport Terminals

All the aforementioned areas will undergo through a rigorous simulation where the possible security situations are modelled and the possible and most effective attack points are identified. Custom attacks are developed for the specific security threat. Once these attacks are modelled, the active phase of the assessment is set in motion. Here the a real life simulation is put in place where individuals who pose as the attackers mock a hostage take over, a terrorist attack, a riot or trigger a stampede. The relevant response units are put in place to test their ability and preparedness to handle the given situation.

At the completion of the simulation, an analysis of the preparedness and the ability of the response units is drawn up. Once this is done, relevant and adequate amendments, conclusions and recommendations are made. Such recommendations may involve the need to increase the security and response personnel, the need to better equip the security and response personnel and the areas which require a concentration of the security and response personnel.

Infrastructure

There are different facets of the infrastructure that is mentioned that poses risk to the effective and successful running of the Olympic Games. Simulations for these parts of the infrastructure will be conducted at their identified weakest areas in order to determine the extent of the impact of the occurrence of these risks.

The road network has been mentioned as a major weakness in the infrastructure of Nigeria and a factor that poses a risk to the effective and successful running of the Olympic Games. This will involve all facets of the transportation systems in and around the areas within which all Olympic activities and events will be taking place. Namely:

• The arterial Routes
• Freeway Junctions
• Roundabouts
• Major highways

The simulation of traffic that will be employed, will assume the mathematical model of transport simulation. The most appropriate model that was identified was the Car-Following Model. This will involve the Gipps’ model and the intelligent driver models that are very effective (Fewings, 2013). These models will model the behaviour of each of the given individual automobile in the given section of the road network in a traffic jam or accident scenario to give a clear depiction of how the behaviour of each car influences the overall traffic system. These simulations will be carried out for the following scenarios:

1. The ability for response teams to react to a given crisis such as;

• A medical emergency
• The occurrence of a security threat
• The occurrence of a natural disaster

2. The ability of the athletes to arrive in their respective event venues ate the appropriate time
3. The ability of Olympic fans to arrive at the Olympic sites

The simulations will employ the use of three given software that have been identified to provide quality and detailed information and results on the desired level of simulation, i.e. microscopic. The software to be used are:

• SimTraffic
• MATSim
• SUMO(Jennings, 2012)

Power Supply

The operation of the electric power system will be tested using Power System Simulation Models. The models will be geared towards the short-term operational simulations (Fewings, 2013). The elements of the power system that will be focused on will be:

• Transmission of Power, i.e. the optimal flow of power
• Transient Stability
• Load Flow
• Optimal Dispatch of Generating Units
• Short Circuit

These simulations will help the respective engineers to determine

• the most economical mode of operation of the network
• the transmission capacity of the existing cables
• the frequency of occurrence of voltage drops
• the flow of power after the occurrence of a fault in given sections of the power network
• the stability of the given power systems within a given time window
• the ability of the power system to recover to full functionality after exposure to a given disturbance

The Power supply simulation models are essential in determining whether the current power supply and power supply grid are both sufficient for the construction phase and the execution of the Olympic Games and events.

This risk will have to be transferred to a specials company that handle the simulations, report on the weaknesses and provide recommendations on how to avert the identified risks posed by the given weaknesses. This is because the kind of expertise required for this type of work needs to professional and technical.

Foreign Exchange Rate

The fluctuations of the foreign exchange rate are influenced by many economic variables, some of which change on a daily basis. As such it is crucial to be able to carry out detailed simulations to aid in the determination of the changes in the value of the expected revenues, sponsor funds and costs and expenses associated with the construction and development phase through to the execution phase.

This would require the hiring of an economics and finance specialist (financial advisor or actuary) to help develop a simulation model in which expected and foreseen economic factors can be factored in, in order to develop a clear picture as to what is expected in the trends and behaviour of the foreign exchange market over the given period of the Olympic Games project.

Risk Mitigation and Aversion

It is crucial that the identified risk be mitigated, if possibly averted in order to reduce the exposure of the Olympic Games Project to the risks. The alternatives for some of the identified risks are numerous while others have a limited number of options.

Infrastructure

Road Network

In order to reduce the risk of accidents and traffic jams that may hinder the ability of emergency response teams to react to given scenario and for fans and athletes to easily access the Olympic Games Sites and facilities, the following methods were devised:

• Increase the size of the major highways through expansion of the number of lanes on each of the main roads
• Expansion of all the arterial routes leading to all Olympic sites and all major support facilities and service areas such as hospitals and hotels
• The expansion of all freeway junctions leading to all Olympic sites and all major support facilities and service areas such as hospitals and hotels
• The expansion of all roundabouts leading to all Olympic sites and all major support facilities and service areas such as hospitals and hotels
• The installation of a functional traffic light system on all roads leading to all Olympic sites and all major support facilities and service areas such as hospitals and hotels
• The reconstruction of all highways to upgrade them to superhighways and the installation of by-passes to redirect traffic away from the all Olympic sites and all major support facilities and service areas such as hospitals and hotels

Power Supply

In light of the recommendations from the hired specialist who conducted the Power system simulation, the following techniques were devised to assist in improving the Power generation and power supply system:

• Creation of two more power generation plants that are expected to generate 1500mw of electricity to help sustain the construction and development phase through the execution phase of the Olympic Games project
• The replacement of the power supply cables within the power grid to increase the capacity of the power supply grid

Security

Owing to the results of the security simulations conducted by our security team, the following techniques and recommendations were devised:

The increase of the number of security personnel in the Olympic sites and support service centres such as the hospitals and hotels

• The security personnel require better equipment such as;
• Adequate riot gear
• Adequate number of firearms for high-level security agents
• There is need for the development of a bomb squad that is expected to respond to any bomb threats
• There is need for a hostage negotiation team to deal with any hostage situations that may develop

Fluctuations of the Foreign Exchange Rates

Owing to the recommendations from the team of financial specialists hired to conduct the foreign exchange simulations, the following techniques were devised:

• There is need for insurance of all the funds against fluctuations of the foreign exchange rates and inflation
• There is need for a reserve fund that will compensate the areas where the insurance cannot cover the stated inflation

Geopolitics

The geopolitical issues that are associated with the Government of Nigeria, the Northern part of Nigeria in particularly have to be settled by the Nigerian Government. This is because the IOC has no mandate or authority to interfere with social issues that pertain to the sovereignty of the Nation of Nigeria. As such, the only way for the IOC to influence this is to provide the Nigerian government with incentive to solve the underlying political issues.

Such incentives would include the involvement of an increased number of sponsors to undertake the larger costs of the infrastructural development required to host the Olympic Games.

Public Opinion

Public opinion can only be shaped through an effective marketing strategy of the Olympic Games Project. The following recommendations cannot be overseen:

• The marketing of Nigeria’s other attraction sites for tourism
• Placing of the Olympic sites in areas that are already developed
• Placing the Olympic sites in the south where security is better

This would act to depict the better side of Nigeria to improve public opinion of Nigeria hosting the Olympic Games.

Project Constraints

There are numerous constraints that may hinder the effective and efficient execution of the Olympic Games Project. These constraints are specific to Nigeria, however some of them may be global.

Financial Constraints

The IOC has limited access to funds. Funds can only be sourced from two major entities, the Nigerian government and sponsors. The former cannot be relied upon since the government at the moment is facing numerous social responsibilities to its citizens that has strained the government’s budget. Sponsors would be the major source of funding for the Olympic Games Project. However, each sponsor has their own set of expectations and conditions for funding the project. As such, it may prove to be difficult to please all sponsors by meeting their demands. (Jennings, 2012)

The only way to manage and possibly overcome this constraint is the creation of a project sponsorship charter that stipulates a sponsor’s benefits and rights depending on the amount of funds remitted towards the project. This stratified grouping would allow all the sponsors to understand their position and role in the whole project.

Legal Constraints

The IOC does not have the legal collateral to handle all of the risks as it would so wish. This is because the IOC does not have the jurisdiction or mandate in the operational affairs of the Nigerian government. As such the only way to circumvent this constraint is through the use of incentives to encourage the government to allow it leeway to handle the given risks in a manner beneficial for both the Nigerian government and the Olympic Games project. (Jennings, 2012)

Unknown Risks

As with any project, the Olympic Games Project may experience exposure to risks that were not foreseen or anticipated. Such risks may threaten the success of the Olympic Games Project. In the case where these risks events occurs there is the need for a response team to handle them. (Jennings, 2012)

In order to respond to the occurrence of risk events, there is a team of 40 individuals will be assembled in order to handle them these individuals will cut across all fields and professions including:

• Finance
• Economics
• EMT
• Architectural Engineering
• Actuarial Science
• Computer Science
• Network Management
• Security
• Electrical Engineering
• Mechanical Engineering

These individuals will have at their disposal several support staff and unlimited resources to handle any emergencies or unexpected risk events.

Once an unexpected risk event occurs the following procedure will be followed:

• The first respondent at the scene reports the given risk event to the relevant department head
• The department head quickly analyses the gravity of the given risk event and classifies the risk as low, moderate or high risk. A low risk event would not pose any immediate threat to the Olympic Games Schedule and would be resolved at the time the department head deems appropriate. A medium risk event would pose some threat to the Olympic Games schedule and would have to be resolved as soon as possible as the department head deems fit. A high risk event poses an imminent risk to the schedule of the Olympic Games and would have to be resolved immediately. A short emergency meeting may be appropriate to decide the best way to handle the situation.
• Once the department head has made the decision, all required resources are mobilized, even if it means transferring personnel and resources from one department to another.
• Once the event has been mitigated, measures are put in place to avert any other similar occurrences.
• A report by the relevant department heads are drawn up and delivered to the organizing committee

Project Closure

The project team managed to effectively handle most of the risk events throughout the Global Olympic Games. All departments kept vigil throughout the event ensuring communication and the free flow of information from one department to the other. All risk events were adequately reported, dealt with and documented in detail.

Performance Metrics

The performance of each department was measured by developing a performance metric unique to each department. The following general process was followed in developing these Risk Performance Matrices (Jennings, 2012)

• Establish a critical processes necessities
• Recognize precise, measurable outputs of work
• Create goals alongside which outcomes can be scored

Risk Root Cause Analyses

The risk root cause analyses were conducted to identify the root origins of problems and faults that were in the form of the risk events. The following procedure was followed in conducting the RCAs in each department.

• Describe the risk event in a factual manner
• Collect evidence and data. This was done while categorizingthe data along a timeline of events to the ultimatecrisis or failure
• Detect the originslinked to each phase in the sequence towards the defined risk event
• Categorizeorigins into underlyingfeatures that are associated to the risk event in the root causes and sequence, which if removed, could have disturbed that phase of the sequence chain
• Recognize all other damagingfeatures that have equivalentright to be defined as “root causes.”
• Recognizeremedial action(s) that will unquestionablyavertrepetition of each damagingoutcome
• Implement the commended root cause amendment(s).
• Certifyefficiency by observing the appliedsanctioned solutions.
• Recognize other techniques for problem aversion and problem solvingthat may be beneficial.
• Recognize and address the other occurrences of everydamagingconsequence and damagingfeature.

From the risk events that occurred, nothing else would have been done better as all the risk event were adequately handled. According to the performance matrices of the team, I would not suggest any changes as the team was efficient and effective.

References

Akorede, V. E. (2004). Geopolitics of development, integration, and security in Nigeria. Akure: F & P Dominion Books.

Business Monitor International. (2005). Nigeria infrastructure report: Including 2-year industry forecasts by BMI. London: Business Monitor International.

Cooper, D. F., & New South Wales. (1994). Olympic Games financial risk analysis: Executive report. Sydney: NSW Premier’s Dep.

Fewings, P. (2013). Construction project management: An integrated approach. Oxford: Routledge.

Great Britain. (2007). Preparations for the London 2012 Olympic and Paralympic Games: Risk assessment and management. London: The Stationery Office.

Jennings, W. J. (2012). Olympic Risks. Palgrave Macmillan: Houndmills.

Larkin, B. (2008). Signal and noise: Media, infrastructure, and urban culture in Nigeria. Durham: Duke University Pres.

Mills, R. M. (2008). The myth of the oil crisis: Overcoming the challenges of depletion, geopolitics, and global warming. Westport: Praeger.

Tarlow, P. E. (2002). Event risk management and safety. New York: J. Wiley.