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(TEMPLATE) A20247 Project Risk Assessment 2

The document outlines an assessment for the BSB50820 Diploma of Project Management, focusing on project risk management. It includes a risk treatment schedule, action plans for managing identified risks, and a review of project outcomes related to risk management effectiveness. Additionally, it emphasizes the need for continuous improvement in risk management processes for future projects.

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Amanda Toledo
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28 views7 pages

(TEMPLATE) A20247 Project Risk Assessment 2

The document outlines an assessment for the BSB50820 Diploma of Project Management, focusing on project risk management. It includes a risk treatment schedule, action plans for managing identified risks, and a review of project outcomes related to risk management effectiveness. Additionally, it emphasizes the need for continuous improvement in risk management processes for future projects.

Uploaded by

Amanda Toledo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ASSESSMENT 2

Qualification BSB50820 Diploma of Project Management


Subject Project Risk 2
Assessment Written Responses
method
Weighting 50%
Unit of Competency BSBPMG536 Manage project risk
1. RISK TREATMENT SCHEDULE
Using the information you completed in Assessment 1 question 8 – the Risk Register, complete the table below for all 5 risks assuming that the risk has
occurred. You now need to develop possible treatment options, recommend the preferred option, rate the risk before and after the treatment, who you
will assign in the team to be responsible and how this will be monitored.
3.4 Update risk plans and allocate risk responsibilities to project team members
PE - apply risk management techniques, strategies and tools
KE - relevant project risk controls
KE - project risk-management processes and procedures

Compiled by: Date:


Risk Possible Preferred Options Risk Rating Risk Rating Cost/ Person Timetabl How will it be
No. Treatment BEFORE AFTER Benefit Responsible for e monitored
Options Treatment Treatment Analysis Implementation
A: Accept
B: Reject
1 Hire an engineer to Hire an engineer – it will H L A Onsite event 1 day Coordinator liaises with
approve the allow the event to coordinator prior to engineer, provides
installation prior to proceed; it reduces the event certification to PM
the event safety risk. Hire of office on 10/5/2020
Postpone event if the engineer $500.
weather and wind
speed is above 35
km/p
Prototype testing
2 - -
3
4
5
2. RISK ACTION PLAN TABLE – Modifying the plan
Select 3 risks from your Risk Treatment Schedule, preferably ones have a high rating. You
now need to create an action plan for each to manage the risk appropriately. Complete
one table for each risk.
4.4 Implement agreed risk responses and modify plans
PE - manage project risk on at least two occasions
PE - conduct effective risk management processes for a project of sufficient complexity
PE - apply risk management techniques, strategies and tools
KE - relevant project risk controls
KE - project risk-management processes and procedures
(Example of Risk Action Plan relating to “Marquee Collapse”)

RISK ACTION PLAN


Risk No. 1
Risk Title Marquee Collapse
Risk Response To ensure that the marquee installer completes an inspection checklist,
Summary submits it to the event organiser and to develop a procedure to have the
(Recommended marquee dismantled in the event of unacceptable wind speed, to ensure that
response & impact) the risk of collapse is acceptable.
Proposed Actions ● Contact marquee company and advise that they will need to complete
(State what the key tasks checklist and submit it to the event organiser once the marquee is
are that need to be erected.
undertaken as part of the ● Develop a procedure for dismantling of the marquee in response
risk response) to unacceptable wind speed.
● Contract engineer to inspect installation and provide
certification.
Resource Requirements ● Onsite event coordinator
(What physical and ● Hire engineer- must have the right skills and expertise (marquee)
human resources are
● Phone
required to implement
risk response?) ● computer
Costings ● $500 to hire engineer
(Provide costings of risk
response)
Responsibilities Responsibility of Onsite Event coordinator to contact engineer and liaise for
(State who will be them to inspect and certify marquee installation on 10/5/2022. Provide the
responsible and what certification to the PM Office on 10/5/2022.
parts of the risk response
they are responsible for –
maybe more than 1
person)
Timing ● Engineer to be sourced by 10/4/2022
(provide due dates for the ● Marquee installed by 9/5/2022
key tasks in the risk
● Engineer to certify marquee on 10/5/2022
response)
● Onsite event coordinator to provide certification document to PM office
10/5/2022

Reporting/Monitoring ● Event coordinator confirms with engineer a week prior to certification

3
(Provide a list of the key that they are still available
tasks to be included in ● Event coordinator notifies when engineer is sourced
the report process, as well
● Event coordinator notifies when marquee installed, engineer has certified
as the person who will be
providing the update) installation
Consulted with ● Discussed with project manager, marquee company and client via phone
Stakeholders
(You need to say who and
what methods were used
to consult with them)

4
RISK ACTION PLAN
Risk No.
Risk Title
Risk Response -
Summary
(Recommended
response & impact)
Proposed Actions ●
(State the key tasks that
need to be undertaken as
part of the risk response)
Resource Requirements ●
(What physical and
human resources are
required to implement
risk response?)
Costings ●
(Provide costings of risk
response)
Responsibilities
(State who will be
responsible and what
parts of the risk response
they are responsible for –
maybe more than 1
person)
Timing ●
(Provide due dates for the
key tasks in the risk
response)
Reporting/Monitoring ●
(Provide a list of the key
tasks to be included in the
report process, as well as
the person who will be
providing the update)
Consulted with ●
Stakeholders
(You need to say who and
what methods were used
to consult with them)

5
RISK ACTION PLAN
Risk No.
Risk Title
Risk Response
Summary
(Recommended
response & impact)
Proposed Actions ●
(State the key tasks that
need to be undertaken as
part of the risk response)
Resource Requirements ●
(What physical and
human resources are
required to implement
risk response?)
Costings ●
(Provide costings of risk
response)
Responsibilities
(State who will be
responsible and what
parts of the risk response
they are responsible for –
maybe more than 1
person)
Timing ●
(Provide due dates for the
key tasks in the risk
response)
Reporting/Monitoring ●
(Provide a list of the key
tasks to be included in the
report process, as well as
the person who will be
providing the update)
Consulted with ●
Stakeholders
(You need to say who and
what methods you used
to consult with them)

6
3. Assess Risk Management Outcomes
a. Review project outcomes and discuss:
● one risk that arose in your project and how it was effectively managed with your risk
management processes and procedures’
● one risk that arose in your project where your risk management processes and
procedures did not work and what you had to do to address the risk.
5.1 Review project outcomes for effectiveness of risk-management processes and
procedures

b. Based on your review of the risk management process and procedures, develop
recommended improvements for future projects.
5.2 Develop recommended improvements for application in future projects

c. Based on your review of the risks that occurred in your project, identify three issues
and recommend what improvements could be made in future projects to avoid these
risk issues.
5.3 Identify and document risk management issues and recommended improvements for
application to future projects

END

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