BSBPMPG517 Diploma Project Management: Project Risk Assessment

This document presents a comprehensive project risk assessment conducted as part of the BSBPMG517 Manage Project Risk unit within the Diploma of Project Management. It includes the identification of project risk objectives and standards, a description of the risk context, and the approach used to identify risks, such as the Delphi Technique, Plan Decomposition, and Brainstorming. A detailed risk register is provided, outlining both positive and negative risks, along with mitigation strategies for environmental, operational, infrastructure, and legal risks. The assessment concludes with risk action plans for the top two priority risks, assigning responsibilities to team members and proposing concrete actions to mitigate potential negative impacts on the museum project. Desklib provides similar solved assignments and past papers for students.

Project Assessment (Event 2 of 2)
Criteria
Unit code, name and release number
BSBPMG517 Manage project risk (1)
Qualification/Course code, name and release number
BSB51415 Diploma in Project Management (4)
Student details
Student number
Student name
Assessment Declaration
 This assessment is my original work and no part of it has been copied from any other
source except where due acknowledgement is made.
 No part of this assessment has been written for me by any other person except
where such collaboration has been authorised by the assessor concerned.
 I understand that plagiarism is the presentation of the work, idea or creation of
another person as though it is your own. Plagiarism occurs when the origin of the
material used is not appropriately cited. No part of this assessment is plagiarised.
Student signature and Date
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December 2018. For current information please refer to our website or your teacher as appropriate.
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Assessment instructions
Assessment details Instructions
Assessment overview The objective of this assessment is to assess your research on managing risk
for your identified project.
Assessment Event
number
1
Instructions for this
assessment
This is a research-based assessment and will be assessing you on your
performance of the unit.
This assessment is in two parts and includes an Assessment Feedback form:
1. Project: research-based tasks, Tasks 1-5
2. Assessment Feedback
Submission instructions On completion of this assessment, you are required to upload it or hand it to
your assessor for marking.
Ensure you have written your name at the bottom of each page of this
assessment.
It is important that you keep a copy of all electronic and hardcopy
assessments submitted to TAFE and complete the assessment declaration
when submitting the assessment.
What do I need to do to
achieve a satisfactory
result?
To achieve a satisfactory result for this assessment all questions must be
answered correctly.
What do I need to
provide?
Pens and computer with appropriate software and internet access (if
working off campus)
What the assessor will
provide?
Computer with appropriate software and internet access (if working on
campus)
Due date and time
allowed
Refer to Unit Assessment Guide.
Assessment feedback,
review or appeals
Appeals are addressed in accordance with Every Students Guide to
Assessment.
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Disclaimer:

Delivery and Assessment Guide
Specific task instructions
The instructions and the criteria in the tasks and activities will be used by the assessor to determine if you
have satisfactorily completed this assessment event. Use these instructions as a guide to ensure you
demonstrate the required performance for this unit.
Before you start this assessment
In order to complete the (5) tasks successfully you must first complete the relevant topics in the workbook.
You will need to select a context for your assessment. This context may be an identified project for your
current organisation or a previous organisation. Alternately, you may select a project identified from the
Plan2Go scenario.
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Project – Research-based task
To complete this part of the assessment, you will be required to complete all tasks below.
Once completed you will need to submit this assessment to your assessor for marking.
Task 1, 2& 3: Research-based task on identifying , analysing and controlling project risk
This task is a written task to demonstrate your ability in identifying project risk. Based on your selected
project, respond to the following questions.
1. Review Activity 1.2 for how you determine risk objectives and standards, with input from stakeholders,
relevant to your identified project. As a guide, your response should be approximately 100-150 words.
The stakeholders play a significant role in ensuring them overall success as well as achievement of
the desired outcomes to a great extent. This is because they can provide useful insights about a
project can be completed by eliminating or avoiding various uncertainties as well as risks. The
different meetings that are held can be helpful in identifying the different risks that can have an
impact on the overall outcomes of the project. In context of the respective Museum Project, the
key stakeholders will help in giving useful insights about the various project risk objectives as well
as the standards that should be adhered to.
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Delivery and Assessment Guide
2. Describe the risk context in which the project is operating. The risk context may include
legislation and regulation controls, nature of the project, organisational risk policies and
procedures, project environment and/or stakeholder expectations (including risk appetite and
tolerances)
There are certain risk contexts in which the respective project is operating. For instance, these include
the different legislation as well as regulation controls. Apart from this, there can also be other factors such
as the nature of the project, the environment in which the project operates etc. It is important to identify
as well as address the potential risks that can have a significant impact on the project outcomes. Also,
different stakeholders have different expectations and not being able to meet the same can also be said to
be the risk context for the respective museum project.
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Delivery and Assessment Guide
3. Describe your approach and methods to identify the risks on the project.
Infrastructure Risk.
Combining present and proposed electrical infrastructural requires commercial planning.
The architecture of the PowerHouse sits on a site some 100 years old. Improper planning and deployment
of cabling infrastructure enhances the risks associated with electrical failure onsite, compromising all site
activity. To ensure appropriate project planning “The Delphi Technique” was utilised, categorising and
detailing deployment risks. External Contractors, Architectural Planners and Site Technical management
were engaged in this process, with review by Heritage Planners.
Legal Risk.
Contractual agreements regarding work throughout the site are based on architectural plans that are
currently at hand. As noted earlier, the site is over 100 years old, and although architectural plans may be
accurate, risks regarding contractor WBS operations may stop deployment. Utilising “Plan Decomposition”
the project manager, Contractor SME’s and Architectural Planners can seek to review each unique work
package, creating operational processes and procedures for each highlighted risk. Additionally, interviews
can be used with deployment SME’s to ensure that risks have been accounted for and detailed.
Environment Risk.
Infrastructure deployment requires un-impeded access to the exhibition space, thus requiring the
relocation of exhibition artefacts to offsite stores. Utilising “Brainstorming” the project management team
and specialist curators categorised risks associated with the transportation and delivery of exhibits,
including internal and external transportation risks, and bad weather incidents. Although this risk cannot be
entirely mitigated, external services, including the Police / RTA can be engaged in exhibit transportation
requirements, thus minimising possible risk impact.
Operational Risk.
Due to the extensive Wireless infrastructure deployment over Levels 1 & 2 of the PowerHouse site, and the
related wireless coverage required on completion, timely procurement of all deployment-related
equipment is essential for project critical path completion. Monitoring of supply channels and engagement
of secondary (backup) supply paths will need to be defined. It should be stressed that the procurement of
equipment via secondary suppliers will increase budgetary risks. Again, the project management team
would utilise “Brainstorming” to ensure contingencies for supply and the associated deployment can be
ensured.
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Delivery and Assessment Guide
4. Complete a risk register for the project (including both positive/opportunities and negative
risks) and two action plans for the top two priority risks using the templates below.
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Delivery and Assessment Guide
Risk Register:
<The risk register should list all risks on the project – not just work health and safety risks. It should include both positive and negative risks>
Risk
No#
Risk
Category
Risk Description including
existing risk controls
Likeliho
Impact
Rating Mitigation Strategy/Response
Likeliho
Impact
Rating
Initial Residual
1 <See
Legend
below>
<A description of the risk and
outline any existing risk controls
in place>
<Describe the strategy put in place and also whether this
is mitigation, acceptance, exploit etc.>
2 Environme
ntal Risk
Infrastructure deployment requires
un-impeded access to the
exhibition space, thus requiring the
relocation of exhibition artefacts to
offsite stores. Utilising
“Brainstorming” the project
management team and specialist
curators categorised risks
associated with the transportation
and delivery of exhibits, including
internal and external
transportation risks, and bad
As a response for this risk, brainstorming sessions will be
held. This will help in identifying the appropriate strategies
so as to overcome the same.
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Risk
No#
Risk
Category
Risk Description including
existing risk controls
Likeliho
Impact
Rating Mitigation Strategy/Response
Likeliho
Impact
Rating
Initial Residual
weather incidents.
3 Operation
al risk
Due to the extensive Wireless
infrastructure deployment over
Levels 1 & 2 of the PowerHouse
site, and the related wireless
coverage required on completion,
timely procurement of all
deployment-related equipment is
essential for project critical path
completion.
As a response to operational risk, the wireless system that
has been installed, will be checked and assessed. This will
help in identifying any errors or their potential impact on
the operation of the museum.
4 Infrastruct
ure Risk
The architecture of the
PowerHouse sits on a site some
100 years old. Improper planning
and deployment of cabling
infrastructure enhances the risks
associated with electrical failure
onsite, compromising all site
activity.
For this risk, appropriate raw material will be used for
completing the project in an effective manner. This will
also ensure that any kind of risk associated with the
infrastructure will be eliminated.
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Delivery and Assessment Guide
Risk
No#
Risk
Category
Risk Description including
existing risk controls
Likeliho
Impact
Rating Mitigation Strategy/Response
Likeliho
Impact
Rating
Initial Residual
5 Legal Risk Contractual agreements regarding
work throughout the site are based
on architectural plans that are
currently at hand. As noted earlier,
the site is over 100 years old, and
although architectural plans may
be accurate, risks regarding
contractor WBS operations may
stop deployment.
Legal risks can also have an impact on the overall
effectiveness of the operations of the project. Therefore,
as a mitigation risk, the appropriate strategies will be
adopted to ensure that any legal uncertainties can be
avoided.
Legend for Risk Categories:
<Provide a list of all applicable categories>
Top priority
Moderate priority as well as low priority
Risk Rating Scales and Overall Rating:
Low
Medium
High
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Very high
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