City of Sydney: Risk Management Framework for Urban Precincts Project

This project focuses on developing a risk management framework for the City of Sydney's changing urban precincts. It begins with an introduction to the project's objectives, which include reviewing current risk management practices and developing a framework based on PMBOK guidelines. The assignment reviews the risks associated with urban development, such as overcrowding, environmental threats, and infrastructure challenges, and provides an overview of the city's current development projects. The project then delves into the development of a risk management framework, detailing the key components of risk identification, measurement, mitigation, reporting, and governance. The identification phase explores risks like overcrowding, environmental threats, resource issues, and technological and infrastructure related risks. Risk measurement is performed to assess the likelihood and magnitude of each risk. The project also details the mitigation strategies, including building more residential areas, using environment-friendly materials, identifying external resources, and implementing e-waste treatment plans. The framework also includes risk reporting and monitoring, as well as risk governance to ensure that all parties involved perform their duties within the risk management framework. The project concludes by emphasizing the importance of sustainable practices and effective infrastructure to support the growing population.