Risk ManagementThe risk of this project have been evaluated using following three by three matrix:Severity

High(major impact on Event Viability or major Cost Implication)MediumHighHigh

Medium(moderate impact on Event Viability or moderate Cost Implication)LowMediumHigh

Low(minor impact on Event Viability or low Cost Implication)LowLowMedium

LikelihoodUnlikelyPossibleProbable

RiskImpactLikelihood&SeverityRatingAvoidance and Mitigating strategy

1. Financial

Financial support and budget razing activities bring less money than was planned to run Event. Cuts made to marketing campaign/ media/PR Cuts made to the Event Program Unable to properly leverage additional support Cancellation of the event PossibleHighHigh Keep carefully tracking the everyday Cash Flow + Budget Plan and discussing potential issues beforehand in order to better money allocation. Engage closely to the major financial sponsors/funds and run faithful and open communication. Keep alternative manners for money razing (through additional arrangement of advertising and promotions). Create and update list of companies for such alternatives.

Blow out an expenditure Event runs at a lossUnlikelyHighMed Set a clear guidelines for staff with regards to their authority to incur expenditure Organize weekly and monthly financial reporting to the Board Update re-forecasting and re-budgeting in the monthly and weekly reports

Sponsors unable to pay agreed sponsorship Cuts made to marketing campaign/ media/PR and the Event Program Unable to properly leverage additional support

UnlikelyMediumLow Spread sponsorship payments through 2015 and 2016 to partly illuminate this risk Obtain close communication with sponsors so that their financial status is well known

Revenue at the end of the project will not meet the minimum quote to cover all subsequent or postponed costs Event runs at a lossUnlikelyLowLow Add to the partnership contracts part with the Postponed Payment Procedure in case of emergencies or unlikely happened situations. Consult with financial institution about the possibility of taking out a loan under a specific conditions.

2. Event Organization

Number and quality of competitor entries does not meet expectations The economic benefits expected from the event will not be achieved Public and Media interests less than targeted Status of the festival is reduced Quality and depth of competitors does not meet expectations Lose sponsors and partner companiesPossibleHighHigh Ensure that event is well-marketed through other similar and close format musical events/festivals in Portugal. Invite key competitors to participate in event in a role of key guests/supporters and so on. Establish direct links with a local authorities in order to receive a better support for event organization. Establish close relationship with all potential participants/signers so that their personal PR positively affect the overall status of the event. Agreed, in advance, with an adequate numbers of PR and Media Companies the possibility to be involved in Marketing Campaigns of the event if required on the latter stages. Add to the partnership contracts part with Possible Penalties for not meeting scheduled target audience.

Ticket sales fail do not meet expectations The economic benefits expected from the event will not be achieved

PossibleMedMed Create a draft of on-going marketing plan to promote including the list of Media Partners Obtain a special offers plan for closer to event dates agreed with the Board

Loss or burnout of staff due to workload or new roles/opportunities The organizational process runs with less effectivities and efficiencies that could affect interdependent tasks and bring possible delays on different stages Unlikely LowLow Everyday monitor of workloads Assist where hot spots Recruit more support as and when required Assign Key area managers tasks to support delivery Approve and qualify candidates for replacement of the key staff as and when required

Power, lighting, sound system failure Cut in overall performance rate Delay in event beginning or breaking performance in the middle of eventUnlikely HighMed Conduct pre-event maintenance double check. Engage a group of professional technicians on-site and on-call. Prepare a backup power supply. Rent an additional sound equipment so that the failure one can be quickly replaced (approve and deliver only if the last check of the original equipment will go with any issues) Ensure that all electrical leads that might exposed are covered or inaccessible to public (in the day of event).

Entertainers or/and signers/bands no show or late, or injured Cuts and/or changes made to the event program Delay in event beginning

Unlikely MediumLow Pre-event rehearsal Arrange transport if appropriate Legal contract of services Use appropriate back up via agency or local contacts. Ensure that performers have insurance to cover their activities while at event.

3. Hazard& Emergency& Force majeure

Potential risks such as overheating, crush, electrical fire Cut in overall performance rate and/or Event cancellation UnlikelyLowLow Qualified electrician on site or on call Set up clear guidelines for the evacuation plan Specifically marked area to enable emergency vehicle immediate access to/from venue

Injury during the event PossibleLowLow Provide an adequate medical support at venue Medical personnel on site Use of security guards who are licensed for crowd control Consult emergency services

Bad weather condition Cuts and/or changes made to the event programPossibleLowLow Create an alternative event program (possibly with a shorten time). Enable the opportunity of fast and lower-cost venue reconstruction (canopy protected from the rain or sunshade) Contact the suppliers of protective rain clothes, umbrellas and etc. and provide them with a special shopping location.