The Project Management Assessment

Project Management
Name of the Student:
Name of the University:
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Task 121 - Document Organisational Risk
In 6-8 sentences, for your organisation OR for a case study provided in the assessment
area undertake the following;
Establish and document the risk context in your organisation by:
T121.1 Reviewing your organisation’s processes, procedures and requirements for risk
management and writing a statement that examines each. Sections covered by policies
and procedures within the organisation could include financial risk, safety risk, theft,
industrial relations, environmental, quality risks.
The risk management report is based on “Bogan Building & Plumbing Case Study” where
Mick starts to get a grip on his new business by focusing on risk management plan.
Financial risk: There should require to carry proper insurance amount and maintain
adequate funds to own the business (Aven 2016).
Safety risk: Consultation with the project workers and health and safety representatives
required to follow each step of risk management process. The workers should follow safety
instructions while working in construction development.
Theft: There should require to control over cash, used informal audits and install security
measures for storing confidential data in safe place.
Industrial relations: There should require to implement human resource management for
improving relations between managers and employees (Hillson and Murray-Webster 2017).
Environmental risk: Educational program on the environment and environment
management plan would help to ensure that the business has no influence on
environment.
Quality risk: There is set of business process and culture, technical capabilities on the
business organization creates collaborative approaches to mitigate operations and
supplier’s issues provide impact on quality (Almeida, Hankins and Williams 2017).
T121.2 Determining and documenting the scope for risk management in your
organisation. This could be in the form of policies or procedures and would describe the
risk adversity of the organisation.
In this study, the scope for the risk management in the organization are:
 Cash management
 Assessing impact of the external and internal risk factors
 Ensuring to provide risk management compliance
 Documentation on policies and procedures of project risks which is easily accessible
by the employees
 Identifying risks related to financial, compliance issues, quality, health and safety
issues
T121.3 Identifying and documenting stakeholders and the possible issues that they may
have with regards to risk management. External stakeholders could include suppliers,
customers and internal stakeholders could include organisation owner, accounting
department, human resource department, operation department, staff.
Stakeholder Internal or Role in risk management process
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external
Suppliers External Responsible to provide quality of products
Customers External Meetings with expectations
Organization owner Internal Running the business
Accounting Department Internal Compliance
Human Resource
Department
Internal Providing health and safety to workers
Operation Department Internal Driving profitable operations
Staff Internal Best quality and cheap price of services
T121.4 Reviewing and documenting the strengths and weaknesses of current risk
management processes.
Strengths: The strength of current risk management process is to identify and address
possible project risks such as health and safety hazards, professional risk, legal risk and
environment risk in the construction industry. Identification of those risks before
conducting work is helpful to reduce negative effects on business organization.
Weaknesses: The risk managers are facing difficulties to manage project risks as the
company has no written policy as well as procedures on risk management. There is
improper usage of the security system leads to theft and stolen of data from the computer
devices. It provides negative effect on the business as managing risk is most important to
achieve project success.
T121.5 Creating and documenting a list of goals and critical success factors for risk
management in your organization.
The goals and critical success factors is aligned with risk management policies of the
organization.
I. Expansion of high customer base by providing them with quality customer services
II. Managing the risks in the organization providing impact on operation of business of
Mick
III. Smooth construction work of kitchen renovation (Giannakis and Papadopoulos 2016).
IV. Efficient implementation of information system for increasing business operations
V. Encouraging employees to support ongoing risk management program
T121.6 Stating and documenting who you obtained support and assistance from.
In this case of addressing and managing the project risks, the risk manager supported the
business organization. The risk manager is responsible to communicate the risk policies as
well as processes for the company. They are provided the employees and managers with
hand on development of risk model to manage quality risk, assure control over business
operations as well as analytical support (Hillson 2017). Commitment from the top
management is required to manage the financial project risks which is vital to increase in
project achievement.
T121.7 Providing evidence that your process was communicated to interested parties and
that they were invited to contribute to its development.
Risk management checklist: It helps to ensure that there is consistency to carry out the
financial operations, human resource management and health and safety control
measures.
Meeting: In the project meetings, there is discussion on issues raised by Mick and
discussion on the lack of the business culture to run a business. There is also discussion of
methods used to interact with the project stakeholders (Rampini, Viswanathan and
Vuillemey 2019). The risk manager discussed that the company has lack of written risk
management policies and processes to guide the project staffs to perform their duties.
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Task 122 - Identify Risk
For the organisation (your own or case study company) you have chosen in Task 121
undertake the following:
Undertake a Risk Identification exercise in your department of your organisation by
providing a documented list of the risks that are present within your department or section.
Ensure that this list is documented in accordance with only relevant policies and
procedures of the organisation.
Ensure your submission includes:
T122.1 A documented list of risks that occur in your department or section.
 Health and safety hazards
 Financial risk
 Environment risk
 Quality risk
 Human resource risk
 Schedule risk
 Compliance risk
 Market risk
 Scope creep
 Contract risk
T122.2 Documents that show you used the risk identification techniques. Some examples
of the types of evidence you may provide include:PEST analysis:
Political: In this case study, there are laws that can affect the organization such as
compliance standards in work health and safety and industrial relation laws.
Economical: As the case study is dealing with getting started a new business, therefore
there is borrowing of money from bank. The business has strong growth in economical
vales.
Social: There is an increase in population which is good for the business as ageing
population is better for the business (Ran and Nedovic-Budic 2016).
Technological: The advanced network scheme will help to business while they will get to
implement information system.
SWOT analysis:
Strengths: Increase in population and there is no such competitor of the business near the
business location.
Weaknesses: There is no written policies and processes on the risk management and there
is no security system for the business.
Opportunities: There is opportunity to open new business in the location as the business
location is central to business opportunities such as opening of shopping centres and
others.
Threats: Introduction of risk legislation by other business will be a threat for the business
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