MBA643_T1_2021_Assessment_1 Page 1 XXXXXXXXXXKaplan Business School Assessment Outline Assessment 1 Information Subject Code: MBA643 Subject Name: Project Initiation, Planning and Execution Assessment...

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MBA643_T1_2021_Assessment_1 Page 1 Kaplan Business School Assessment Outline Assessment 1 Information Subject Code: MBA643 Subject Name: Project Initiation, Planning and Execution Assessment Title: Risk analysis and mitigation project (Individual) Assessment Type: Project Word Count: 1500- 2000 Words (+/-10%) Weighting: 30 % Total Marks: 30 Submission: Via Turnitin, Due Date: Monday, Week 6 23:55pm AEST Assessment Description. You are a project analyst at a large construction company. You have been asked to develop a risk analysis and mitigation plan for one of the below five projects: 1. Melbourne Metro Tunnel: • https://metrotunnel.vic.gov.au/ Also see: https://www.abc.net.au/news/2020-12- 11/metro-tunnel-budget-blows-out-by-more-than-2-billion/12974940 2. Singapore Sun Cable: https://www.suncable.sg/ Also see: • https://www.theguardian.com/environment/2019/jul/14/just-a-matter-of-when-the-20bn- plan-to-power-singapore-with-australian-solar • https://www.straitstimes.com/business/economy/20b-plan-to-supply-solar-power-from- australia-to-spore 3. Lot Fourteen (Adelaide) • https://lotfourteen.com.au/ • https://renewalsa.sa.gov.au/projects/lot-fourteen/ 4. Crescent Dunes Solar Energy Project, Nevada: https://www.power- technology.com/projects/crescent-dunes-solar-energy-project-nevada/ 5. Hudson Yards, New York: https://www.hudsonyardsnewyork.com/about/building-hudson- yards/ 6. Western Sydney Airport, https://westernsydneyairport.gov.au/ https://www.abc.net.au/news/2020-12-11/metro-tunnel-budget-blows-out-by-more-than-2-billion/12974940 https://www.straitstimes.com/business/economy/20b-plan-to-supply-solar-power-from-australia-to-spore https://lotfourteen.com.au/ https://renewalsa.sa.gov.au/projects/lot-fourteen/ https://www.power-technology.com/projects/crescent-dunes-solar-energy-project-nevada/ https://www.power-technology.com/projects/crescent-dunes-solar-energy-project-nevada/ https://www.hudsonyardsnewyork.com/about/building-hudson-yards/ https://www.hudsonyardsnewyork.com/about/building-hudson-yards/ https://westernsydneyairport.gov.au/ Page 2 Kaplan Business School Assessment Outline The project you will analyse will depend on the LAST digit of your student number: o 0 and 1 = Project 1 o 2 and 3 = Project 2 o 4, 5 and 6 = Project 3 o 7= Project 4 o 8= Project 5 o 9= Project 6 There are three parts to the Analysis: Part A – in which students discuss their allocated project case study (you are allocated one based on your last name) and outline rationale, key features, funding and stakeholders Part B – in which students develop their risk analysis framework Part C – in which students identify mitigation measures and proposals for overcoming the risks identified in their case study The links provided above are just to outline the project. Students are required to conduct ADDITIONAL research into their allocated project to identify and address potential risks, etc. which might reasonably be foreseeable or expected. Students need to take into account commercial considerations when constructing the plan and identify whether the plan is cost effective or has any implementation issues. The three parts are detailed below: Part A: Project Overview (10 marks) For each student’s allocated case study students must be able to identify the following information through their own research: • The overall budget for the project (real or projected) • Social and economic rationale: Including benefits and drawbacks for the project (2 Marks) • Key Statistics: Provide key information about the project: (5 Marks) o Scope and Size o Budget and estimated cost o Time required to complete the project o Key construction elements or phases (e.g. if you are building a toll road one key element may be the tunnel segment or bridge segment) o Environmental costs or benefits • Funding mechanisms: How the project makes money or provide return to its promoters (2 Marks) • Identify the Key Stakeholders in the project (1 Mark) Required word count is between 500-700 words. Page 3 Kaplan Business School Assessment Outline Part B: Risk Analysis (8 marks) In this part students develop a risk assessment analysis in which they use both qualitative and quantitative measures to identify potential risks in the project and determine how they should be weighted. The risk analysis should draw upon principles outlined in the Project Management Body of Knowledge (PMBOK) and material discussed in class in weeks 1 -5. Students would be expected to produce a risk matrix where the likelihood of potential risks events are mapped against their possible consequences. Other risk assessment and analysis activities might focus on a range of financial measures associated with the project. Required word count is 500-600 words. Part C: Risk Mitigation Plan (10 marks) In this part students will use the information collected and analysed in the previous two parts to develop a risk mitigation plan and strategy. Based on information identified in the risk analysis students will be expected to develop a plan for how they deal with the various identified risks. The mitigation plan should outline which risks need to be address and in what order. The plan should also identify and potential risks that they believe do not require attention. The plan should then explain how risks might be addressed and by what means. Where possible places should include the reference to time and resource (costs) implications. Students need to take into account commercial considerations when constructing the plan and identify whether the plan is cost effective or has any implementation issues. (10 marks) Required word count is 500-700 words. Presentation and Referencing (2 marks) Please ensure you reference correctly in line with the referencing guide: https://elearning.kbs.edu.au/pluginfile.php/190037/mod_resource/content/0/NEW_Kaplan%20Harvard%20Re ferencing%20-%20Interactive%20Road%20Map%20v.1.pdf https://elearning.kbs.edu.au/pluginfile.php/190037/mod_resource/content/0/NEW_Kaplan%20Harvard%20Referencing%20-%20Interactive%20Road%20Map%20v.1.pdf https://elearning.kbs.edu.au/pluginfile.php/190037/mod_resource/content/0/NEW_Kaplan%20Harvard%20Referencing%20-%20Interactive%20Road%20Map%20v.1.pdf Page 4 Kaplan Business School Assessment Outline Assessment Marking Guide You will be marked based on the below rubrics Part A: Project Overview Outline key features of the project based on research and interpretation of real-world data and information Criteria Requirement Marks Available i) Overall Budget Summarise the social and economic rationale (including benefits and drawbacks) for the project 2 marks ii) Key Statistics a) Describe project scope with reference to what is being built and provide technical image/map if appropriate b) Outline the budget and estimated cost c) Estimate the time required to complete the project - time line may be provided if available d) Identify the key construction elements or phases (e.g. if you are building a toll road one key element may be the tunnel segment or bridge segment) e) environmental 5 marks iii) Funding Mechanisms Analyse the funding mechanism of the project - i.e how does the project make money or derive social benefit to provide return to its promoters 2 marks iv) Key Stakeholders Identify the key stakeholders 1 mark Page 5 Kaplan Business School Assessment Outline Part B: Risk Analysis Integrate qualitative and quantitative risk measures, with reference to theory, in order to identify and evaluate potential risks to the project i) Potential Risks Identify potential risk using both qualitative and quantitative risk measures with reference to PMBOK principles 4 marks ii) Risk Matrix Construct a risk matrix and assess the likelihood of potential risks as well as their consequences with reference to financial measures 4 marks Part C: Risk Mitigation Plan Formulate a risk mitigation plan by justifying which risks need to be addressed and how i) Risk Evaluation Justify which project risks needs to be addressed, how they need to be addressed and in what order with reference to time and resource cost implications. Distinguish risks which do not need to be addressed. 5 marks Formulate a risk mitigation strategy based on Parts A and B and critique the plan with reference to commercial considerations and cost effectiveness. 5 marks Presentation and Referencing : Conduct relevant research of project management literature and market data and information relevant to your company. Acknowledge your sources. Appropriate in-text Harvard Referencing and reference list You must reference in text and have a reference list at the end of your assignment. See Harvard referencing guide on Academic Success Centre portal page. 2 marks Total 30 Page 6 Kaplan Business School Assessment Outline 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: http://www.kbs.edu.au/current-students/student-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. http://www.kbs.edu.au/current-students/student-policies/ https://elearning.kbs.edu.au/course/view.php?id=1481
Answered 3 days AfterApr 18, 2021MBA643

Answer To: MBA643_T1_2021_Assessment_1 Page 1 XXXXXXXXXXKaplan Business School Assessment Outline Assessment 1...

Arunavo answered on Apr 22 2021
135 Votes
MBA643
PROJECT MANAGEMENT OF WESTERN SYDNEY AIRPORT
Table of Contents
Introduction    3
Part A: Project Overview    3
Part B: Risk Analysis    4
Part C: Risk Mitigation Plan    5
Conclusion    7
References    8
Introduction
Initiating any project requires proper planning for ensuring the success of the project. in order to ensure the success of the project different components of project management needs to be considered, such as: goal of the project, estimated t
imeline for the completion, budget allocated, scope of the project, required team skills along with the interpersonal skills of the team members and the leadership applied through which the project is accomplished. In this report a detailed discussion is done on the project management of Western Sydney Airport, which is one of the iconic international airports under construction, and scheduled to open by 2026. In this report the discussion is done on the budgeting along with the social and economic rationale of the project. the discussion is also done on the risk analysis and mitigation plan of the risks for the project.
Part A: Project Overview
Project management involves a lot of components, such as planning, controlling and completing the work with the team members in order to achieve the specified goals in the specified time. As discussed by Demirkesen & Ozorhn (2017) in order to effectively manage the project by the project manager there are eight steps that need to be followed. The first step is project goals, which should be specific, measurable, achievable, relevant and timely (SMART) goal. The second step is to adhere the projected timeline for the completion of the project. The third step is to monitor the budget allocation and expense done during the entire project. The fourth step is to monitor the scope of the project in which the project manager ensures that the work gets completed on specified time and that to with the required specification. The fifth step need to be followed by project manager is to ensure proper team skill set is available. The sixth step is to ensure team motivation, which need to be positive and result oriented. The seventh step is to ensure a positive team chemistry, which will avoid any internal conflict among the team members. The eight and last step if to ensure proper leadership responsibilities from the project manager, who is accountable for the success of the project.
The construction of Western Sydney Airport (WSA) is awarded to Badgerys Creek by the Australian Government with an estimated cost of delivery of the project is AUD 5.3 billion (Western Sydney Airport, 2021). The company was established on August 7, 2017, with an experienced board member, and they will also have a joint participation with the private sector construction market throughout the project. the construction of the airport is committed for the full-service airport operating curfew free, and it will deliver all the international, domestic and freight services. Through this project thousands of jobs and opportunities for the local business will be created, and around 28,000 direct and indirect jobs will be created by 2031.
Western Sydney Airport has encompassed around 1800 hectares of undulating terrain, and a major earthwork is required for the relocation of high voltage powerline, cemeteries and heritage sites. A number of minor roads within the Badgerys Creek site is closed as a part of the early preparatory work on the site (Western Sydney Airport, 2021). The Australian Government and the Western Sydney Airport are committed to the working with all community members and the partners throughout the construction they are committed towards working with the community members and their partners through the construction. The project will engage the community and the industry stakeholders in a number of ways to ensure that they receive consultation throughout the construction process. The stakeholders include the local government and private agencies who are engaged with the construction of the airport, local people who are actively engaged in the construction work at present and the future work with the airport, and the community people, who will be benefited through the construction of airport. Completion of airport project will benefit the promoters by enabling more operation of international flights along with domestic passenger flights. Construction of the airport will also improve the connectivity of cargo network, because a number of cargo flights will touchdown the airport and also a good connectivity with railways will aid more...
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