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Details of Assessment Term and Year 4, 2021 Time allowed Draft Week 5, Final Week 7 Assessment No 1 Assessment Weighting 100% Assessment Type Written Responses, Case Studies and Portfolio of Evidence Due Date Draft Week 5, Final Week 7 Room Zoom Details of Subject Qualification BSB50820 Diploma of Project Management Subject Name Project Risk Management Details of Unit(s) of competency Unit Code (s) and Names BSBPMG536 Manage Project Risk Details of Student Student Name College Student ID Student Declaration: I declare that the work submitted is my own and has not been copied or plagiarised from any person or source. I acknowledge that I understand the requirements to complete the assessment tasks. I am also aware of my right to appeal. The feedback session schedule and reassessment procedure were explained to me. Student’s Signature: ____________________ Date: _____/_____/_________ Details of Assessor Assessor’s Name TAUFIQ ANWAR Assessment Outcome Assessment Result |_| Competent |_| Not Yet Competent Marks /100 Feedback to Student Progressive feedback to students, identifying gaps in competency and comments on positive improvements: Assessor Declaration: I declare that I have conducted a fair, valid, reliable and flexible assessment with this student. |_| Student attended the feedback session. |_| Student did not attend the feedback session. Assessor’s Signature: ___________________ Date: _____/_____/________ Purpose of the Assessment The purpose of this assessment is to assess the student in the following learning outcomes: Competent (C) Not yet Competent (NYC) 1.1 Identify risk objectives and standards, with input from stakeholders 1.2 Identify project risk context to inform risk management processes 1.3 Identify project risks using valid and reliable risk identification methods 2.1 Identify risk analysis classification criteria and apply to agreed risk ranking system 2.2 Use risk analysis processes, within delegated authority, to analyse and qualify any risks, threats and opportunities 2.3 Identify risk priorities in agreement with project client and other stakeholders 2.4 Document risk analysis outcomes for inclusion in risk register and risk management plan 3.1 Identify and document existing risk controls 3.2 Analyse risk treatment options using agreed consultative methods 3.3 Record and implement agreed risk treatments 3.4 Update risk plans and allocate risk responsibilities to project team members 4.1 Establish risk review processes 4.2 Monitor risk environment and identify changed circumstances impacting project risks 4.3 Evaluate risk responses to changed environment 4.4 Implement agreed risk responses and modify plans 5.1 Review project outcomes for effectiveness of risk-management processes and procedures 5.2 Develop recommended improvements for application in future projects 5.3 Identify and document risk management issues and recommended improvements for application to future projects Assessment/evidence gathering conditions Each assessment component is recorded as either Competent (C) or Not Yet Competent (NYC). A student can only achieve competence when all assessment components listed under “Purpose of the assessment” section are recorded as competent. Your trainer will give you feedback after the completion of each assessment. A student who is assessed as NYC (Not Yet Competent) is eligible for re-assessment. Resources required for this Assessment Weekly eLearning notes relevant to the tasks/questions should be read prior to undertaking the assessment. Instructions for Students Please read the following instructions carefully · This assessment must be completed |X| In class |X| At home · The assessment is to be completed according to the instructions given by your assessor. · Feedback on each task will be provided to enable you to determine how your work could be improved. You will be provided with feedback on your work within two weeks of the assessment due date. All other feedback will be provided by the end of the term. · Should you not answer the questions correctly, you will be given feedback on the results and your gaps in knowledge. You will be given another opportunity to demonstrate your knowledge and skills to be deemed competent for this unit of competency. · If you are not sure about any aspects of this assessment, please ask for clarification from assessor. · Please refer to the College re-assessment for more information (Student Handbook). ASSESSMENT TASKS There are two tasks to complete for this unit of competence: Task 1 – Written responses This activity has been designed to assess your knowledge and understanding of managing project risks within projects. This task consists of questionnaires which reflect the knowledge of project management (PMBOK). The responses should include the following: · Must be relevant to your project as stated in BSBPMG530 Manage Project Scope, unless otherwise stated. Responses should link to the theoretical aspects of project risk management followed by relevant experience / exposure of your nominated project you recently or are currently working on to progress both your studies and your projects simultaneously. Your response to the questionnaires must relate to the same project topic chosen for BSBPMG530 Manage Project Scope subject unit. · However, if you have started with this subject topic as an initial attempt of this course, you must negotiate and discuss with your Assessor to consider a project that you recently or are currently working on or a project that you have worked in the past. · If workplace project exposure does not apply to you, you must negotiate with your assessor to use a scenario/case study examples that you will find on e-learning. However, case study examples are a suitable substitute where workplace examples cannot be provided. Case studies are available on e-learning. Theory answers without reference to your experience will not be assessed as satisfactory · Demonstrate that you can or have applied what you have learnt to your project, regardless of whether you have undertaken all the performance requirements in your workplace Task 2 – Portfolio of Evidence The portfolio of evidence comprises the assessment of the application of your project risks knowledge. You will need to demonstrate your human resources management skills applied to a project which is based on the project you have chosen for BSBPMG530 Manage Project Scope subject unit. It should state relevant experience / exposure of your nominated project you recently or are currently working on to progress both your studies and your projects simultaneously. If you have started with this subject topic as an initial attempt of completing this course, you must negotiate and discuss with your Assessor to consider a project that you recently or are currently working on or a project that you have worked in the past. If workplace project exposure does not apply to you, you must negotiate with your assessor to use a scenario/case study examples that you will find on e-learning. However, case study examples are a suitable substitute where workplace examples cannot be provided. Case studies are available on e-learning. To such a degree you must negotiate with your assessor to use a scenario/case study examples that you will find on e-learning. Your nominated project must be agreed between you and your Assessor so that its methodology, tools and techniques accommodate to the performance requirements of each Unit of Competency prior to start of work on the unit. Your project must comprise: · a comprehensive, detailed and integrated project management plan · a formal communications plan · a devoted and project-based budget · formal and planned involvement with a wide range of stakeholders · a documented risk, issues and change-management methodology · a quality plan with assurance and control processes · a project team-based environment. Evidence of the following is important: · demonstration of risk management for several complex projects · knowledge of risk management plans, tools, issues and likely challenges To achieve competency, you are required to demonstrate knowledge, skills and experience to: Performance Evidence Evidence of the ability to: · conduct effective risk management for a project of sufficient complexity to demonstrate the full range of performance requirements · apply risk management techniques, strategies and tools. Note: If a specific volume or frequency is not stated, then evidence must be provided at least once. Knowledge Evidence To complete the unit requirements safely and effectively, the individual must: · identify project risks in a range of risk categories · explain key components of a risk management plan · outline industry sector risk classifications and relate these to different risk contexts · summarise organisational and industry standard risk frameworks · identify and describe characteristics, techniques and appropriate applications of quantitative and qualitative risk management techniques and approaches. STRUCTURE AND MARKING CRITERIA FOR ASSESSMENT TASKS: I. TASK 1 – Written Responses (Total 15 marks for TASK 1) Q1: Education on effective risk management (5 marks) Q2: Relating risk management to scope, schedule and budget (5 marks) Q3 Tools and techniques to analyse and manage project risks (5 marks) II. TASK 2 – Portfolio of Evidence (Total 85 marks for TASK 2) A. Identify project risks (15 marks Total) 1. Operations based on risk context (5 marks) 2. Approach to identify risk (5 marks) 3. Team involvement in the establishment of risk management context and planning (5 marks) B. Analyse the project risks (50 marks Total) 1. Risks as opportunities (4 marks) 2. Consequence and likelihood (8 marks) 3. Qualitative risk analysis (4 marks) 4. Reflection prioritisation of risks (4 marks) 5. Risk responses strategies (10 marks) 6. Risk Register and action plan (20 marks in total) a) Risk register (10 marks) b) Action plan (10 marks in total) i. Risk action plan 1 (5 marks) ii. Risk action plan 2 (5 marks) C. Monitor and Control Project Risks (10 marks Total) 1. Monitor risk atmosphere to identify changed circumstances (5 marks) 2. Risk management approaches to maintain current risk register (5 marks) D. Assess Risk Management (10 marks Total) 1. Review project risk performance outcomes (5 marks) 2. List of risk management issues and recommendations (5 marks) TABLE OF CONTENT Content Pages Marks Marks Achieved TASK 1 – Written Responses (Total 15 marks for TASK 1) Q1: Education on effective risk management 5 Q2: Relating risk management to scope, schedule and budget 5 Q3 Tools and techniques to analyse and manage project risks 5 TASK 2 – Portfolio of Evidence (Total 85 marks for TASK 2) A. Identify project risks (15 marks Total) 1. Operations based on risk context 5 2. Approach to identify risk 5 3. Team involvement in the establishment of risk management context and planning 5 B. Analyse the project risks (50 marks Total) 1. Risks as opportunities 4 2. Consequence and likelihood 8 3. Qualitative risk analysis 4 4. Reflection prioritisation of risks 4 5. Risk responses strategies 10 6. Risk Register and action plan (20 marks in