Advanced Diploma of Project Management: Risk and Delivery Report

This report, prepared for the Advanced Diploma of Project Management, delves into key aspects of project and program management. It begins by examining risk management according to ISO 31000 standards, emphasizing the importance of identifying and mitigating risks within organizational contexts. The report explores risk management strategies, the roles of financial and program management, and the significance of resource availability, including human and financial resources. Furthermore, it discusses the benefits of Management Service Providers (MSPs) in streamlining operations and reducing costs. The report also includes an analysis of legal and regulatory requirements, stakeholder communication, and resource allocation. The assessment tasks cover a range of topics, including risk assessment, stakeholder engagement, and the application of relevant laws and regulations, providing a comprehensive overview of project management principles and practices.

Running head: ADVANCED DIPLOMA OF PROJECT MANAGEMENT 1
ADVANCED DIPLOMA OF PROJECT MANAGEMENT

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Table of Contents
Assessment 1:..................................................................................................................................3
Assessment 2...................................................................................................................................7
Assessment task 3..........................................................................................................................11
References......................................................................................................................................13
Appendix A:...................................................................................................................................15

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Assessment 1:
Question 1.0: According to ISO 31000, the risk is considered as a effect of uncertainty
over the objectives. The risk of undertaking a pregame as per the ISO standards is
predominantly needed to eradicate by the programmed management. Thus, there is a
discussion about the probable risks has to be done and along with this a proper decisions
the addressing of risks needs to be done. However, in this case the cultural objectives
which are associated with organizations functional are needed to be performed and as for
this reason, management can consider the probable risk components of the organisation.
As for this reason, the ISO 31000standards are to be maintained by organistaions in order
to manage and assess the risk as well as eliminate them from company’s operations.
1.1The risk management strategy has set a clear outline structure for managing the risk,
which is related with an objective in order to achieve. The purpose of the risk management is
to increase the awareness among all working partners in order to handle the risk. Moreover,
the purpose of the risk management is to prevent the risks, which are related with the
occupation. In addition, the risk management process can help an organization in order to
identify the awareness of the rising risk. The risk management policy helps the organization
in order to determine the roles and responsibilities of the all team members as well as project
managers for managing the identified risk. Thus, there is a discussion about the probable
risks has to be done and along with this a proper decisions the addressing of risks needs to be
done. Moreover, it incorporates the processes of monitoring and controlling of the risks. The
risk management is also effective to save the company the need to pay its own
administrators, and train, hire. With the help of Web page as the user interface, almost every
relative computer systems of a company nowadays are operated remotely using these
interactive systems. The purpose of the risk management is to identify the crucial
responsibility of each staff members and project managers. Moreover, the program
management helps the organization in order to estimate the resource allocation for the
project management within an organization.

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1.2 Financial management has been known as an enlarged field of programmed management
with respect to the operations of a business. It has been further known that this can be applied
to both the program as well as the project management. Apart from that, this is applicable to
both of the operations related to the financial management with respect to the concerned
business. With respect to the roles of the government, it has been found that commercial
sectors and the non-commercial sectors both can be taken into consideration for implementing
the respective operational management. Including the financial management in the process of
accounting, may develop the grassroots scales with respect o the concerned budgeting,
financial management, funds control, debt management, treasury management, and strategic
management of financial operations auditing, and cost estimating of the respective business.
Moreover, the budget allocation for the project management is based on project requirement,
whereas, the budget allocation in program management depends on the organizational budget.
1.3 The program management significantly increases the business transformation as well as all
business activities. The purpose of the program management is to define the roles and
responsibilities within an organization. Moreover, it determines the skill and attributes of each
team members within an organization. The purpose of the program management is to identify
the crucial responsibility of each staff members and project managers. Moreover, the program
management helps the organization in order to estimate the resource allocation for the project
management within an organization. Program management operation identifies organizational
activities that include strategic management and financial management. With respect to the
roles of the government, it has been found that commercial sectors and the non-commercial
sectors both can be taken into consideration for implementing the respective operational
management.
1.4 The resource availability refers to the sourcing of human, finance, raw materials and other
platforms for conducting a business. However, in case of a project management, the most

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important aspect is the availability of human and financial resource. On the contrary, the
human resource does not only refers to the aspect of employees, but also it refers to other
stakeholders such as customers, management, owners, sponsors and others who has a
significant outcome of the project process. Thus, tit the project manager refers to resource for
undertaking the project operation, they might refer to incorporation of all these resources for
better service outcomes.
1.5 Management service provider (MSP) refers to information technology (IT) services
management, which is obtained in the Internet. This is beneficial for other companies in order
to conduct their operational management functions by internet. In order to state about their
application, it can be stated that if an MSP is hired by a company, it can acts to administer and
configure its computers business and other system operation. These functions are provided in a
continuing basis. It is also effective to save the company the need to pay its own
administrators, and train, hire. With the help of Web page as the user interface, almost every
relative computer systems of a company nowadays are operated remotely using these
interactive systems
1.6 Benefits of MSP have been identified as follows:
• It helps in reducing the costs
• MSP increases the economies of scale of a business
• It reduces the additional expenses of the respective enterprise
• It increases the efficiency of the overall performance of the respective enterprise
• It helps the concerned organization in assessing the skill sets of the relative resources
• MSP helps in reduction of the risks related to the operations of the organization
• MSP helps a business in enhancing the levels of services that the business provides to its
ethical customers
• It increases the level of security related to the compliances and the business resiliencies
it can acts to administer and configure its computers business and other system operation.

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1.1. Group activity and research:
During both planning the program delivery and execution, you must ensure that all relevant
Rules and Regulations pertinent to your programs in Australia and State are met.
In small groups conduct a research of different laws, regulations, legislations, industry specific
regulations or codes of practice. Your research can be conducted on your personal devices e.g.
IPods, tablets, laptops, or classroom computers, learner guides and text books, e-learning library
and any other resource that you can access.
Once you have completed the research, select the appropriate laws, regulations and industry
codes or practice or regulations that are relevant to your program and address the following
questions individually:
1.9. a) A project manager is dependent on the proper communication process between the
members of the of the project. However, the risk management is also dependent on a proper
communication process among all the stakeholders of the project. Australia Council Act 2013
sheds light over the planning and the decision-making process in order to mitigate the risk in the
management process. In order to complete a project, there can be a number of stakeholders
depending on the process of different tasks, employees and the financers (McNeil, Frey &
Embrechts, 2015). On the other to manage the risk, the responsible stakeholders might give
importance towards the previous experience in identifying possible risks. Moreover, they might
analyze the challenges and find out a possible solution. After identifying the proper solution, the
stakeholders can mitigate the risk factors.
b) According to the Australia Council Act 2013 every project management might avoid the
possible risk factors in order to maintain the quality of the project and meet the aim of the project
(australiacouncil.gov.au, 2018). In order to maintain the regulations and the legislation in the
project management, the stakeholders who are responsible to complete the project within time
might give importance towards the proper reason behind the project. After identifying the risk
and the reason of the risk the management might give importance towards the possible risk
mitigating solutions. However proper implementation of the solution can help to mitigate
challenges a risk and can help to maintain the quality of the project.

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c) Proper communication process and the work progress monitoring process can help to identify
the compliances in the project work. Howe ever-proper communication process promotes the
transparency in the management system, which allows all the stakeholders to present their views
(Lam, 2014). On the other hand, analysis of the task progress after a certain time also helps to
monitor the compliances.
1.10. a) In order to determine the resources importance will be given towards the requirements of
each task. After determination of the requirements, the discussion with more than two providers
can help to understand the present market value and will help to do the negotiation with the
price. Pooper communication and documented work can help to organize the process in a secure
and organized way.
b) In order to make the secure the funding requirements, the project manager might give
importance towards the proper budgeting of the project. In order to raise funds, the project
manager can include investors also.
c) According to the change in the project, the project manager might give importance towards the
essential changes. The resource requirements will also change according to the area of changes.
d) Priority towards the risk factors will be dependent on the amount of effect of the risk on the
project work.
e) The risk factors are associated with the project process and stakeholder engagement that can
affect the project.
f) Australia Council Act 2013 provides guidelines to mitigate risk factors in a project work
(australiacouncil.gov.au, 2018).
g) Risk register helps in the future. However, registered risks help the present project to identify
the possible risk factors and help to avoid interruptions.
h) In order to mitigate the risk factors importance might be given to the risk assessment planning
and finding a solution.

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Assessment 2
A. This retail program of expanding the brand into 16 nationalities within 3 years in
undoubtedly very huge and requires a lot of monitoring from the stakeholder’s
perspective. The pertinent stakeholders in this particular program will be audit manager,
adjudicators, community champions; social media team members, shareholders, creditors,
legal department of loss prevention, public relation manager and supply chain
department. These people are the respective stakeholders in terms of this program
because they all will be facing huge loss if the program does not be successful.
B. In a normal diagram of organisational chart there are various stakeholders in it. The first and
primary one is the president followed by vice president of finance and vice president of human
Resource management. The finance department holds accounts and treasury department too. The
customer service team, domestic sales team, purchasing and receiving team and inspection team
are the respective stakeholders here. The human resource department has manufacturing and
engineering department too. These departments have many stakeholders like, fabrication team,
assembly team, product testing team, system engineers, electronic engineers, software engineers,
electronic engineers, technical engineers and product engineers.
C. In order to communicate with all the stakeholders, the project manager would need to arrange
a meeting with all of them and state the various objectives of the meeting. The objectives would
be to set effective communication methods while the program will be ongoing. Certain key
messages should be set so that the program’s goal can be achieved. In the meeting the
stakeholders will be prioritised as per their roles in the program. Budget and responsibility
allocation will be a prior concern in the meeting too.
D. [Refer to appendix A]
E. The stakeholders are responsible for risk management. All of them play a crucial role in it.
However, the most important stakeholders will be the adjudicators, public relation manager,
supply chain department, legal team of loss prevention and the system engineering team.
F. The delay was because of insufficient funds from the investors.
It created a big hindrance in the pathway of opening the retail store as even if the initial money
or the most part of entire expenditure was arranged, still there stays many requirements of
financial resources while the utmost opening is going to happen. Damage control team should be

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appointed at the time of opening because in case any unfavorable accident occurs, the team can
take care of it and no fund was provided to appoint this team. Therefore, the inadequate funds
can restrict in opening new retail outlet as well as in expanding the retail business.
The remedy would be to collect more funds from investors at the time of primary collection and
in such situation, only taking loan from the bank would be a valid suggestion.
G. Mapping out the stakeholders in accordance with their power:
Project Manager- He is responsible for the clarification of the study of demographics and
location choice for profitably scattering of the business having large reflection on meeting the
demand of the consumers and seeing the suitability of weather conditions for the product-service.
He should be well aware of locating the retails shops in demand-centric location in line with the
ease of accessing inputs and transportation. It is main responsibility of a project manager to
monitor on the stakeholders’ performance for meeting the project criteria.
Second Project Manager- A person responsible for the design and aesthetics of the retail shops,
his performance will be evaluated with the frictionless accommodation of the required and the
necessary products properly shelved for the consumers to enable them for ease at product-
locating with crystal-clear classification based on their usage.
Remaining stakeholders- They should ensure nice and technologically-driven movement of the
service in and around the retail outlets with sustained marketing strategies and backed up
financial plan (Serrador & Turner, 2015). The technologically implementation on the program
service can help projects managers in order to expand the retail business.
H. The project manager involved in detailing of generalising the initial steps should be able to
conduct few sessions on centralised risk and workflow management system around the newly
formed “roundtable”. The second project manager mainly in a proper build-up of the retailing
shop should pay attention to the details of the assigned products maps. The risk here can be
managed with proper automated accountability system calculating risk-bearing capacity. Their
performance is bound to shed light on the project budget issues. A proactive control of Project

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Scope with a organised Dashboards indicating key factors of risks affecting the project cost and
causing technical issues
I. communicative approach of the conducted session of the risk cost associated with the project
cost is thought to be an effective way. The Stakeholders and the franchise owners must be
properly made aware of the future business prospects of the detailing shop. The appealing
technologically-driven project plan can be explored by them and the prospects of higher profit
and the return margins. Others benefits such as the demand-driven products, a well equipped
financial experts capable of handling any risk towards achieving the aimed mission can be made
aware of.
J. A sustainable planning related with the view of long-term growth with products having
features to edge out substitute products of competitors and environment-friendly resources and
inputs paying a close lookout to any harm to nature. The shops are built around in a user-friendly
way surrounded with ample greenery. The planning and resources need to be based on making
comfortable working field. Moreover, this comfortable working field can ensure the possibilities
of organizational sustainability.
K. Few legislations are:
The Consumer and Competition Act (2010) which explores unfair market practices, safe product
labeling and so on.
Australian Consumer Law
National Trade measurement legislation commonly stating out the illegal trade activities of
products and also to some importantly specified countries.
Retail leasing state regulations
Energy minimum and Greenhouse standards.
L. The data and the reports generated explores the demand across time periods and the overall
selling capacities of the retailing shops classified under different products of them and to what

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extent profit is being generated by those sellings. The sophisticated software to be used in
visualizing and analysis of the data is MS Excel, R Software and recently include the Python
software and Orange data mining. Tableau software is specifically used for visualisation of the
collected data.

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Assessment task 3
Groups need to plan their strategies accordingly.
Communication strategy favoring stakeholders- The first and the second project manager
should be able enough to recognize the business long-term aims bearing well in minds the risk
factors are involved in the project scope and planning. They should be approached properly
through every medium be it in reality or virtually and the evaluation plan must be kept at their
disposal and a laid out program theory to explain development.
Demonstrating skills of professional presentation- A clearly sketched out presentation plan
detailing out the necessary part of the project starting from the business plan, products delivery,
customer-centric development, technologies to be used provided with their user manuals to gain
important insights on the collected data. The benefits of such aims and objectives must be
presented with diagrams and charts with figured out consequences.
Program progress- The extent to which the initial steps have been achieved in monitoring and
evaluating the program plan further negotiations with the stakeholders with respect to the
balanced budget while keeping in view of the cost-efficient service of the product and service
delivery. The design, aesthetics, and the program management system should be periodically
checked and any unexpected circumstances must be dealt with a backed up plan.
Renewed risk management program- Going by the development of the project, the team is
expected to be well equipped by newer and advanced technologies to combat the risk associated
with the cost, scope, financial management system.
Implementation of environmental factors- The team must occasionally check the environment
index parameter and should properly aware of any damage caused to nature while incorporation
of any advanced and up-to-date technology.
Advanced technology- Data reporting tool is mandatory to incorporate in order to gain
meaningful insights on the collected data with thoroughly proven importance in contributing to
high-profit margins thus helping in business development (Marcelino-Sádaba, González-Jaen &
Pérez-Ezcurdia, 2015). The data collection, data mining part must be structured enough so that
they can be used in future studies while falling upon the past development graphs and business
programs.