Assessment 3 InformationSubject Code: MBA641Subject Name: Strategic Project ManagementAssessment Title: Risk Analysis and Stakeholder Management PlanAssessment Type:Length: Individual Written and...

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Assessment 3 InformationSubject Code: MBA641Subject Name: Strategic Project ManagementAssessment Title: Risk Analysis and Stakeholder Management PlanAssessment Type:Length:
Individual Written and Diagrammatic Analysis2500 words (+/- 10% allowable range)
Weighting: 40%Total Marks:Submission:
100OnlineDue Date: Week 13Your taskYou are required to complete a comprehensive risk analysis and stakeholder management plan basedon your proposals put forward in Assessment 1 and Assessment 2 concerning project managing thenew Sydney Cruise Terminal. This assessment is a culmination piece, in which you will be given anopportunity to combine the information you have accumulated in Assessments 1 and 2.


Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. Assessment 3 Information Subject Code: MBA641 Subject Name: Strategic Project Management Assessment Title: Risk Analysis and Stakeholder Management Plan Assessment Type: Length: Individual Written and Diagrammatic Analysis 2500 words (+/- 10% allowable range) Weighting: 40% Total Marks: Submission: 100 Online Due Date: Week 13 Your task You are required to complete a comprehensive risk analysis and stakeholder management plan based on your proposals put forward in Assessment 1 and Assessment 2 concerning project managing the new Sydney Cruise Terminal. This assessment is a culmination piece, in which you will be given an opportunity to combine the information you have accumulated in Assessments 1 and 2. Assessment Description The purpose of this assessment is to foster students’ ability to evaluate and determine project viability, including the analysis required in the selection process. This will also form a part of students’ ability to create project portfolios that meet an organisation’s strategic goals and requirements as well as analyse project lifecycles and the processes involved in project development. Students will also demonstrate the criteria required to evaluate the success of projects based on an organisation’s goals, strategy and standards and analyse the project lifecycle and the processed involved in project development. Assessment Instructions Your task is to imagine that you are advancing the project for the new Sydney Cruise Terminal, that you have developed in Assessment 1 and Assessment 2, and you now have to prepare a Risk Analysis and Stakeholder Management Plan before commencing the project. You will complete a comprehensive risk assessment of your project proposal and statement of work (SOW), linked directly to the case study. You will also complete a stakeholder management plan, in which you will propose ways to manage best the relationships between the groups identified in the case study and the proposals you have put forward in Assessment 1 and 2. Your analysis needs to be directly linked to the case study and related to all the elements you addressed in the Project Strategy Framework and Statement of Work (SOW). It is expected that your Risk Analysis (approx. 1,250 words) will include the concepts studies in weeks 4 and 5, with at least one or more of the Risk Assessment techniques used, such as a risk assessment grid or project risk picture as a minimum. Your work should clearly show the potential risks that are identified within the case study, in addition to your research on the topic and site and a clear outline of how these will be managed. Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. The Stakeholder Management Plan (approx. 1,250 words) will follow a style appropriate for presentation to the NSW Government (who have commissioned the project) and include the identification of the various stakeholders, their interest and influence over the project, and a clear outline of the engagement strategy for each stakeholder group. You are also expected to outline the appropriate objectives and measures for the various stakeholders, using the appropriate frameworks, concepts and diagrammatic tables, as necessary, to explain your reasoning in a clear and concise manner. In addition to the case study, you are required to use at least 15 sources of information and use Kaplan Harvard Referencing Style. Wikipedia and other ‘popular’ sites are not to be used. These may include government publications, industry reports, and journal articles. Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. Assignment Submission This file must be submitted as a ‘Word’ document to avoid any technical issues that may occur from incorrect file format upload. Uploaded files with a virus will not be considered as a legitimate submission. Turnitin will notify you if there is an issue with the submitted file. In this case, you must contact your workshop facilitator via email and provide a brief description of the issue and a screenshot of the Turnitin error message. You are also encouraged to submit your work well in advance of the deadline to avoid any possible delay with the Turnitin similarity report or any other technical difficulties. Late assignment submission penalties Penalties will be imposed on late assignment submissions in accordance with Kaplan Business School “late assignment submission penalties” Policy. Number of days Penalty 1* - 9 days 5% per day for each calendar day late deducted from the total marks available 10 - 14 days 50% deducted from the total marks available. After 14 days Assignments that are submitted more than 14 calendar days after the due date will not be accepted, and the student will receive a mark of zero for the assignment(s). Note Notwithstanding the above penalty rules, assignments will also be given a mark of zero if they are submitted after assignments have been returned to students *Assignments submitted at any stage within the first 24 hours after the deadline will be considered to be one day late and therefore subject to the associated penalty For more information, please read the full policy via https://www.kbs.edu.au/about-us/school-policies https://www.kbs.edu.au/about-us/school-policies Assessment Information COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. Important Study Information Academic Integrity Policy KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy. What is academic integrity and misconduct? What are the penalties for academic misconduct? What are the late penalties? How can I appeal my grade? Click here for answers to these questions: https://www.kbs.edu.au/about-us/school-policies Word Limits for Written Assessments Submissions that exceed the word limit by more than 10% will cease to be marked from the point at which that limit is exceeded. Study Assistance Students may seek study assistance from their local Academic Learning Advisor or refer to the resources on the MyKBS Academic Success Centre page. Click here for this information. https://www.kbs.edu.au/about-us/school-policies https://elearning.kbs.edu.au/course/view.php?id=1481 COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969 This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a registered higher education provider CRICOS Provider Code 02426B. MBA641 Assessment 3 Marking Rubric - Risk Analysis and Stakeholder Management Plan 40% Marking Criteria (__/100) F (Fail) 0—49% P (Pass) 50-64% C (Credit) 65-74% D (Distinction) 75% - 84% HD (High Distinction) 85 – 100% Risk Analysis __/10 marks Your analysis of the risks lacked depth and/or was not relevant to the assessment task and/or no examples included. You have analysed all of the risks by including somewhat relevant examples. You have analysed all of the risks by including mostly relevant examples. You have analysed all of the risks by including specific examples in the appendices section. You have critically analysed all of the risks by including specific examples in the appendices section. Stakeholder Management __/20 marks You have prepared an unclear or unsuitable plan by identifying or describing minimal or none of the stakeholders. As a result, you have drawn unsuitable recommendations for their management. You have prepared a basic plan by identifying and/or describing all of the stakeholders. As a result, you have drawn partially suitable recommendations for their management. You have prepared a detailed plan by identifying and describing all of the stakeholders. As a result, you have drawn mostly suitable recommendations for their management. You have prepared a detailed plan by identifying and describing all of the stakeholders. As a result
Answered Same DayOct 05, 2021MBA641

Answer To: Assessment 3 InformationSubject Code: MBA641Subject Name: Strategic Project ManagementAssessment...

Sudipta answered on Oct 10 2021
123 Votes
RISK ANALYSIS AND STAKEHOLDER MANAGEMENT PLAN
Risk analysis
In this section of the study, the risk associated with the completion process of Sydney's new cruise terminal will be identified. Likelihood and impact of these risks will be estimated, and mitigation strategies to minimize these risks will be suggested.
    Risk
    Description
    Risk assessment
    Responsible stakeholders
    Mitigation strategy
    Delivery risk
     The delivery delay is one of the most common aspects of project management. Project delay mostly takes place in two different types of projects the fi
rst one is called the construction project and the other one is IT project (Durdyev, Omarov and Ismail, 2017). As per the selected project, it can be determined that Sydney cruise terminal is the selected project and project manager has slated a starting date of January 2023 and it is expected to be delivered by February 2026. Due to uncertain reasons, the project delay risk might take place. For example, lack of supply of raw materials, dissatisfaction among employees, funding issues and others.
Moreover, in 2023 if still the COVID pandemic exists then delay will take place in the commencement of the project itself. Eventually, project delay will take place.
    6 - Delivery time may take longer than expected
    Project planner, project manager
    In order to avoid delivery delay risk, management must involve more time on selecting suppliers. The management team must ensure that suppliers have enough material along with quality material to complete the project in one go (Radujković and Sjekavica, 2017). On the other side, if the project manager must procure the fund from the stakeholders in order to avoid financial issues which may lead to delivery delay.
    Design risk
    As per the initial plan, it can be found that the project manager has decided to implement aboriginal cultural references in the terminal. However, the design might not attract the tourist as well. In other words, there is always uncertainty about the design of a project and representing aboriginal culture might not be appreciated by people.
    4- Might not go as per the plan
    Project designer
    The project manager must consult with the project designer before finalising the concept of implementing aboriginal cultural references in the terminal (Lynch, 2019). Moreover, they must conduct surveys on people to determine potential social challenges.
    Communication risk
    As per the plan, it is mentioned that the project manager will be informed through a written test in the weekly meeting. In such a situation, if any issue is not covered in the written status then it will not be moved to the top management team. As a result, communication gaps might take place (Lauren and Schreiber, 2018). If any vital information is overlooked then it will directly impact the completion process of the project. In addition to this, as the project will be three years long, therefore, weekly meetings will be very frequent. In three years-long span of time, there are 156 weeks (approx.). Conducting 156 meetings is not an easy job. Moreover, it is very unrealistic to expect a present from everyone in all 156 meetings. On the other side, if frequency meetings do not take place then the project manager will not be able to determine the exact status of the project. Moreover, miscommunication related issues might take place. Hence, it is proved that conducting frequent meetings and keeping a gap between two meetings both have their disadvantages.
    7- Miscommunication is prominent in large projects
    Project designer, employees
    To avoid communication risk, the management team must ensure flexibility in the communication channel. It is found that weekly meetings will be made to get to know the status of the project from each individual associated with it. In such a situation, the project manager must implement flexible communication medium like telephone, conference call, Email can be used as a communication medium so that everyone is able to convey the status of their work to the concerned person.
    Technical risk
    Statement of work has disclosed that the project will be completed using sustainable mechanisms. In other words, the power which will be used for completion of this project will be completely taken from solar power. Nguyen (2019) stated that solar panels are still not a reliable source of power especially when they are being used for commercial purposes or in projects. The study also mentioned that the largest solar panels are capable enough to supply electricity to a few households only. In such a situation, the project management team has decided to implement solar power as the main source of power. Project managers might get affected as there is no plan B for supplying power other than solar panels. Moreover, during the rainy season, it is difficult to store sunlight in the solar system. Hence, the lack of technical backup is one of the major risks associated with the construction process of the Sydney cruise terminal.
    5- Unsuitability of selected technologies
    Project manager, NSW government, Suppliers
    Installing a solar panel will increase the sustainability of the project (Dauenhauer et al. 2020). However, the project managers must keep traditional sources of electricity as plan B. As a result, whenever the solar panel will fail to offer sufficient energy the traditional approach will cover the situation.
    Human risk
    The project plan has disclosed that staff members will be offered proper training during the training phase (Ningthoujam, 2017). However, a number of reports suggested that even after going through proper training employees were unable to deliver effective performance.
    7- lack of expertise in...
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