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BSBPMG536 Manage Project Risk
Task
Task – Performance and Skills Assessment
Task summary
This project assessment task requires you to manage project risk on 2 occasions for a project of sufficient complexity in an organisation (real or simulated).
This assessment is divided into 4 (four) parts:
Part A: Identify and analyse project risks
Part B: Establish risk treatments and controls
Part C: Monitor and control project risks
Part D: Assess risk management outcomes
You will complete the assessment tasks in a real organisation (your current workplace can be used). If you are not working, select a workplace / organisation you are familiar with.
Required
You are required to demonstrate your ability to:
• Manage project risk on at least two occasions.
• Conduct effective risk management processes for a project of sufficient complexity.
• Apply risk management techniques, strategies and tools.
You are required to select an organisation in order to complete this assessment. An organisation can be a business, charity, association, not-for-profit enterprise or government body.
You may also select your own organisation (for example, your own business or one you plan to start); an organisation you have access to, such as a business owned by a friend or family; or your current employer.
Alternatively, you can use the case study, namely the IAJ CRM project, with supporting information provided together with Task 2. This includes the following documents, which will provide the information you need to address all the questions in this assessment:
- IAJ Company Profile
- IAJ CRM Project Brief
- IAJ Risk Management Framework
Part A: Identify and analyse project risks
This task will require you to identify and analyse 2 project risks for a project of sufficient complexity at
your chosen organisation / workplace. If in doubt regarding project complexity, discuss the project you have chosen to focus on with your trainer. Complete the following:
1. Indicate how you will liaise with relevant stakeholders to identify risk objectives, project risk context and project risks. Complete the stakeholder engagement plan below to indicate how communicated with stakeholders and the outcome of the consultation:
|
Name of stakeholder |
Title of stakeholder |
Method of communication |
Frequency |
Type of information needed |
Outcome of consultation |
2. Conduct a SWOT analysis on the project, to help identify potential Weaknesses and Threats which could place the project at risk of not meeting its objectives. Also identify possible Strengths and Opportunities that could assist the project in achieving its objectives and overcoming the weaknesses and threats that were identified .
3. Identify risk priorities in agreement with relevant stakeholders.
4. a) Document risk analysis outcomes in a risk register. Identify at least three (3) risks.
|
Risk ID |
Risk description |
Risk likelihood |
Risk consequence |
Risk Rating |
Risk mitigation |
Risk Owner |
|
1 |
||||||
|
2 |
||||||
|
3 |
4 b). You are required to distribute information gathered in this task to relevant stakeholders in your chosen organisation and request their feedback. Summarise all relevant information from points 1-4 above for each of the risks you identified and send an email to the relevant Stakeholders.
Part B: Establish risk treatments and controls
This task will require you identify risk controls and establish risk treatments for the risks listed in part A.
1. What risk controls does your chosen organisation have in place to reduce the likelihood or impact of those risks you identified in part A?
2. a) Analyse and record risk treatment options for at least two (2) of the identified risks.
b) After completing this task, send another email to the project stakeholders highlighting the response recommendations that were identified and the proposed actions. Make sure to thank the stakeholders for their input in identifying risks and response recommendations.
Part C: Monitor and control project risks
This task will require you to monitor risk environment, identify changed circumstances and evaluate risk responses following a risk review process for the risks identified in part A. Use the template below:
|
Risk ID: |
|
Identify at least one Environmental changes or Risk Category. Also include one Method of detection that indicates how you will monitor environmental changes. |
|
Risk response – assume that there was an environmental change. Indicate what type of response will you put in place. |
|
Recovery status – indicate whether the risk response was effective: |
|
Lessons learned – indicate what limitations you identified in the risk monitoring process |
|
Preventative measures – Indicate how you will address the limitations you identified. |
Part D: Assess risk management outcomes
This task will require you to assess risk management outcomes for each of the risks identified in part A. To do so, refer to the risk treatments you identified in part B and risk review process in part C for your chosen organisation. Then, determine the effectiveness of the risk management processes and procedures by answering these questions:
|
How effective were the processes that you used? |
|
|
Were the processes in line with the project outcomes and objectives? |
|
|
Did any of the risk mitigation processes improve the project outcomes? Explain your answer. |
|
|
Did any of the risk mitigation processes negatively impact project outcomes? |
|
|
What recommended improvements do you propose for application in future projects? |
After completing this task, document risk management issues and recommended improvements for application to future on a PPT. Imagine you will present this PPT to relevant stakeholders at your chosen organisation when organising the information.
BSBPMG536 Manage Project Risk
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