Diploma of Business: Project Management and Risk Assessment

This course covers project management tools, risk management procedures, and policies for Biz Ops Enterprises. Topics include budgeting and financial planning, supplier policies, work health and safety, and information management procedures.

1
Diploma of Business

2
Table of Contents
Part A.........................................................................................................................................4
Q1:..........................................................................................................................................4
Q2:..........................................................................................................................................4
Q3:..........................................................................................................................................4
Q4:..........................................................................................................................................4
Q5:..........................................................................................................................................4
Q6:..........................................................................................................................................4
Q7:..........................................................................................................................................5
Q8:..........................................................................................................................................5
Q9:..........................................................................................................................................5
Part B: Biz Ops Enterprises........................................................................................................6
Project Definition.......................................................................................................................6
Project Scope..........................................................................................................................6
Key Stakeholders...................................................................................................................6
Company Policies...................................................................................................................6
Corporate Policies and Procedures.........................................................................................6
Planning and Implementation of the Project..............................................................................6
Budgeting and Financial Planning Procedures......................................................................6
Supplier Policy.......................................................................................................................6
Identification of Risks............................................................................................................7
Risk Management Policy.......................................................................................................7
Work Breakdown and Deliverables.......................................................................................7
Information Management Policy............................................................................................7
Privacy Policy........................................................................................................................7
Work Health and Safety Policy..............................................................................................7
Information Management Procedures....................................................................................7

3
Team Meeting Agenda...............................................................................................................8
Preferred Training Suppliers..................................................................................................8
Risk Management Procedure.................................................................................................8
Bibliography...............................................................................................................................9

4
Part A
Q1:
The two organizational documents or resources that help project parameters are time and
cost.
Q2:
The resource that has been chosen is cost that makes sure that the budget is not overinvested
and the income is adjusted according to the plan.
Q3:
The two questions that is required for an individual to manage a project includes what is
required in a project management and what project management level is required.
Q4:
It is important for a project manager to execute a project by considering organizational
objectives as it helps to create a vision that leads to success. It also initiates strategic
alignment thus making sure about what is being delivered by the project management. The
relationship of the projects to other projects is also imperative as it provides a clear focus thus
gearing the efforts towards the accomplishment of the ultimate objective.
Q5:
The two aspects that a project manager requires to be considered while allocating human
resources to a project includes allocating human resources wisely and taking top aspects of
competent staffing into consideration.
Q6:
The two examples of project management tools include Gantt Chart and Logic Network.The
Gantt chart is regarded as a admired management bar that is used to trail both
interdependencies between tasks and time. On the other hand, logic network reflects on the
series of performance in a project in due course. In other words, it helps to recognise the
landmark and decisive path of a project1.
1See, eg, Harold Kerzner and Harold R. Kerzner, ‘Project management: a systems approach
to planning, scheduling, and controlling’ (2017) 32

5
Q7:
The five-step risk management procedure includes the process by which risk assessment is
carried out. The first step includes identification of hazards that helps to comprehend the
dissimilarity between a vulnerability and risk. The second step is deciding who might get
harmed mostly the individuals who are working in the warehouse.The third step deals with
assessing the risks on control measures. The fourth step is recording the findings that require
to be put down in legally2.
Q8:
The WHS risks that exist in a project could be identified with the help of residual risk as well
as risk rating.
Q9:
Direct cost deals with particular cost objects whereas, indirect cost is more prone to be
moreover fixed costs or period costs. Examples of direct costs are direct labour, commissions,
piece rate wages and direct materials. On the other hand, examples of indirect costs are
production supervision salaries, insurance and quality control costs.
2See, eg, Milton D. Rosenau and Gregory D. Githens, Successful project management: a step-
by-step approach with practical examples (John Wiley & Sons, 2011) 70

6
Part B: Biz Ops Enterprises
Project Definition
Project Scope
The vision and mission of this company is to gain recognition amongst the customers by
providing superior quality and novel items and services. Serving to the customers incredibly
is the greatest value. The scope to provide retail purchases employees development program
across the world.
Key Stakeholders
The major stakeholders include customers, employees and suppliers.
Company Policies
Providing the best quality and new products, excellent service, sufficing the altering
requirements, speedy and efficient service, recruiting able staff and giving green items are the
major business plan.
Corporate Policies and Procedures
This policy targets the fact that all the employees should possess the required knowledge,
skills and expertise to enable the smooth functioning of the business. The policies would
focus on the units contain store managers, sales assistant, store supervisory staff and
proposed notable staff.
Planning and Implementation of the Project
Budgeting and Financial Planning Procedures
In order that the company can allocate its resources in the right direction, budgeting
committee should plan the budget. The procedure should be devoid of corruption and should
be reviewed by the Finance Manager.
Supplier Policy
Under this policy, firstly, the right supplier should be selected. His duties is to look after the
online transactions of the company and also counterbalance the relationship with creditors.

7
Identification of Risks
Biz Ops Enterprise emphasizes upon fairness, parity and impartiality while recruiting its
employees. Every employee is given equal opportunity without discrimination to give his or
her best and work in a peaceful atmosphere. People from various cultures are employed.
Risk Management Policy
The management is responsible for adopting the risk management policy through consistent
training, examination and scanning programs to enable the company to take risks and also
succeed in them. This is the process towards Biz Ops Enterprise’s gaining and prospering in
the business market.
Work Breakdown and Deliverables
This policy deals with easy access to work for those who are qualified to work. Equal pay for
equal work should be provided to all. The merits should be considered rather than a corrupted
environment.
Information Management Policy
This policy targets that all records, data and statements related Biz Ops should be unerringly
noted and utilized for the track records. The business operation manager should update the
policies and preserve them accurately.
Privacy Policy
In order to have a clear cut relationship between the employees all their personal information
should be submitted to the HR of Biz Ops. The privacy should be ensured so that the
employees have faith in their employers.
Work Health and Safety Policy
This is a major policy undertaken by the Biz Ops Enterprise management team. The WHS
Officer is responsible for ensuring that the staff work in healthy and sound environment. First
aid is available. All the workers are provided with a minimum medical training to persuade
services in the work health and safety policy of Biz Ops.
Information Management Procedures
Biz Ops has a unitary electronic as well as document based information management
systems. Every team is empowered to maintain separate cabinets in the departments.
Journals, magazines, books and research works are prepared under this procedure and kept in
the Biz Ops library.

8
Team Meeting Agenda
Preferred Training Suppliers
Biz Ops creates an opportunity for its employees to select the appropriate training program
while adjudicating upon the developments. Conflict management, change management,
leadership skills, advanced computer skills are certain training programs.
Risk Management Procedure
The examination, marking, regulation, scanning, scrutiny monitoring and reviewing of the
risks intended to crop up is the chief purpose under this procedure. A regular outlook is
followed by the Biz Ops company to go ahead with the risk management policies and
procedures.

9
Bibliography
Kerzner, Harold, and Harold R. Kerzner, Project management: a systems approach to
planning, scheduling, and controlling (John Wiley & Sons, 2017)
Rosenau, Milton D., and Gregory D. Githens, Successful project management: a step-by-step
approach with practical examples (John Wiley & Sons, 2011)