Reference no: EM131319554 , Length:

Type of Assessment

This summative assessment will enable your Assessor to make a judgement of competency based on the submission of your completed assignments against the requirements of this unit of competency.

Hints: - The following hints will assist when preparing reports for submission
Report format:
Executive summary
An executive summary is a very useful tool in communicating your information to busy people. It is essentially a short summary (often no more than a page) of the report objectives, findings, and conclusions.

Contents
Any report over three pages in length should have a list of contents. A list of contents not only helps people find their way around the report but it also gives an indication of what is in the report and the structure.

Introduction
The introduction should set the scene for the report by concisely describing the reason for the report and the background or history relevant to the report.

Body
The body should address the main information including:
- objectives of the review;
- how the review was conducted, who was consulted, etc; and
- results of the review and key issues identified.

Summary/Conclusions/Recommendations
Your conclusions should be clearly justified with reference to the results of the review. Your recommendations should be made twice, briefly in the opening summary or Executive Summary and then in more detail in the recommendations section.

Scenario: Please reflect back to your assignment scenario for BSBPMG511- Manage Project Scope; and BSBPMG516- Manage project information and communication.

"CA City Retail Group has decided to give the café/bakery a bit of a makeover. This makeover includes a fresh new menu, new furniture, and a play area for children. You were successful in your application for the project manager role, and have just had your initial planning meeting with the executive management team; the current café manager; the general manager of marketing; and the director of finance. You have been given a budget of $150,000 and the project should commence on 5/1/200X and be completed by 5/5/200X."

You then used this same scenario to demonstrate your skills and knowledge in managing project information and communication. Now you will continue to use this scenario to complete the assessment tasks for Manage Project Risks.

Task 1 - Identifying project risk

1. You have held your first project risk management meeting with key stakeholders and your project team. A copy of the minutes of the meeting are provided in Appendix A. Referring to the minutes, which details input from your stakeholders, identify the risk objectives and standards for this project.
which details input from your stakeholders, identify the risk objectives and standards for this project.
Risk objectives and standards that will be met were agreed upon after the project stakeholder meeting. The risk attitude will depend on factors including the degree of risk an entity is willing to accept to achieve their objective, he organisation's ability to work with uncertainty and the organisational tolerance level.

2. What possible risk does the project contain? Provide a minimum of three general contexts in which risks may be identified for this project.

3.
a. Identify two reliable risk-identification methods that you could use to identify the risks for this project. You may refer to Appendix B which has provided you with further resources. Are these resources valid risk-identification methods?

b. Identify project risks using the two valid and reliable risk-identification methods of you have identified in question 3a.

4. Categorise your project risks, you may elect to categorise by potential cause of risk; or by project objectives. Your answer can be provided in a Risk Breakdown Structure (RBS) or a word table.

5. Consider if there are any Industry sector risks that could apply to the CA City Retail Group. What risk contexts would be considered common?

Task 2 - Analyse project risk

1. Explain what risk-analysis classification criteria and ranking system you will be using for your project. Provide a diagram or table which clearly shows the risk ranking system scales (probability or likelihood; impact or consequence; and rating legend).

2. You have been given delegated authority to take the lead role in the risk analysis process. Use your chosen risk-analysis process to analyse and qualify the project risks, threats and opportunities. Prepare a Risk Priority Table showing the outcome of your risk analysis. Draft an email that you would send, with the Risk Priority Table attached, to your project team and stakeholders to gain agreement on the risk prioritisation.

3. Start to prepare a draft Risk Management Plan for your project using the Risk Management Plan template that has been provided. You are required to complete the following sections in this draft plan:-

a. Stakeholder roles and responsibilities

b. Risk management process and activities

c. You can then include the Risk Priority table you have created in Task 2.2 in your draft Risk Management Plan.
You will be required to submit this ‘draft' Risk Management Plan for assessment, after Task 3.3 has been completed.

4. Explain the key elements of the risk management plan, why are these element important?

Task 3 - Establish risk treatments and controls

1. Using the information provided in Appendix B identify and list what risk controls are existing within the organisation.

2. The project sponsor, stakeholders and team members have agreed to use the risk treatment options outlined in Appendix C. Complete the Risk Assessment Matrix (Risk Register) to outline how you will implement the risk treatments. The risk assessment matrix template is attached.

3. Using your Risk Register from Task 3.3, update your Risk Management Plan and complete the Roles and Responsibilities table. You will be required to submit this ‘draft' copy of your Risk Management Plan for Assessment.

Task 4- Monitor and control project risks

1. Create a flow chart to show how you will establish and conduct a regular risk review process to maintain currency of risk plans. Include step/s to show how you will ensure you monitor the risk environment that could impact the project

2. The playground supplier has contacted you to advise that the delivery and installation of the playground will be delayed by three weeks. You have looked at your calendar and realised that this now places the playground construction phase of the project across the school holiday period. Considering this change review your risk management plan and determine if any risk responses have been impacted by this change in environment. Review your risk treatment plan and risk management plan and modify as necessary to maintain currency of the risk treatments and controls. If you believe that no change is necessary, please give a justification for this decision. You are required to submit this ‘final' copy of your Risk Management Plan for assessment.

Task 5 - Assess risk management outcomes

1. Explain in 100 words how you would review your risk management outcomes at the close of the project. What review processes would you recommend? What reports would you complete and why?

2. You have received feedback from two of your project stakeholders, see the emails in appendix D. Use this information to evaluate your risk management outcomes and document your findings here. Include your recommendations for improvements to be utilised in future projects.

3. Provide a summary of the ISO 31000:2009 risk framework.

4. Identify and describe a qualitative and quantitative risk management technique or method. Your description must include the key features of the technique and how it is most appropriately used in the workplace.

Attachment:- APPENDIX.rar