Assessment Task 1 Cover Sheet
Students: Please fill out this cover sheet clearly and accurately. Make sure you have kept a copy of your work.
Name:
Date of submission:
Assessor to complete
Assessment Requirements
Satisfactory/ Not satisfactory
Date
Was this a re- submission?
Y/N
If yes, what attempt?
Assessment Task 1: Activities
1st attempt 2nd attempt
Re-assessment
STUDENT DECLARATION
I declare that these tasks are my own work.
None of this work has been completed by any other person.
I have not cheated or plagiarised the work or colluded with any other student/s.
I have correctly referenced all resources and reference texts throughout these assessment tasks.
I understand that if I am found to be in breach of policy, disciplinary action may be taken against me.
Student signature: ____________________________________________________________________________________________________
Student name: ________________________________________________________________________________________________________
ASSESSMENT TASK 1: Written Questions A
TASK SUMMARY:
To provide you with an opportunity to show you have the required knowledge for this unit. The answers to the following questions will enable you to demonstrate your knowledge of:
Risk management framework
Risk management techniques, tools and approaches
RESOURCES AND EQUIPMENT REQUIRED TO COMPLETE THIS TASK
Access to textbooks and other learning materials.
Access to a computer and the Internet (if you prefer to type your answers).
WHAT NEEDS TO BE SUBMITTED?
Your answers to all questions
Complete the Student’s Self-evaluation Checklist
WHAT HAPPENS IF I GET SOMETHING WRONG?
If your assessor marks any of your answers as incorrect, they will talk to you about resubmission. You will need to do one of the following:
Type the questions that were incorrect and resubmit.
Answer the questions that were incorrect verbally.
INSTRUCTIONS:
Answer each question in as much detail as possible, considering your organisational requirements (or organisation of your choice or a hypothetical organisation if you are not currently employed).
ACTIVITY 1A
Give three examples of risk objectives.
Risk Objectives
a.
b.
c.
For the building and construction industry, what are the relevant standards and legislation regarding risk management?
ACTIVITY 1B
What areas might project risk context include?
Choose and outline one external/strategic and one internal/organisation context for a past project you have been involved in and explain how they affected the project in no more than 200 words each.
ACTIVITY 1C
Define what project risks are.
How might you go about identifying project risks?
Outline two methods of qualitative analysis for likelihood.
Outline two methods of quantitative analysis for likelihood.
Using the risk identification template outlined in 1.3 of the unit, complete risk identification for a project of your choosing in the workplace
ACTIVITY 1D
What are the risk classifications for the building and construction sector?
Outline the three most common types of risk in a project in no more than 100 words each.
What actions should you take for the following risk classifications:
Unacceptable
Undesirable
Tolerable
Broadly acceptable.
ACTIVITY 2A
What is the relationship between risk classification and the impact of risks?
How do you come up with a risk ranking system in your organisation (or organisation of your choice?
ACTIVITY 2B
What information would you need for a SWOT analysis for risk classification?
What questions might you include in a SWOT analysis for risk classification?
ACTIVITY 2C
What is your organisation’s process of identifying risk priorities?
ACTIVITY 2D
What is the purpose of a risk register?
For a project you have been a part of in the past, complete a risk register and risk management plan.
ACTIVITY 3A
What risk controls exist industry-wide for your organisation?
Give four examples of risk control strategies.
ACTIVITY 3B
Outline the following risk treatment options in no more than 60 words each:
Accept risk
Mitigate risk
Transfer or share risk
Avoid risk.
ACTIVITY 3C
Using the template below, fill out the treatment an identified risk in a past project.
Risk ID:
Risk description:
Predicted impact:
Response recommendation:
Proposed actions:
Resources required:
Person(s) responsible:
Response schedule:
Reporting/monitoring requirements:
Project manager
Name …………………………… Date: ……………………….. Signature ……………..
Authorisation
Name …………………………… Date: ……………………….. Signature ……………..
ACTIVITY 3D
Why might you need to update risk plans?
What review techniques do you use in your organisation to update risk plans?
ACTIVITY 4A
Your assessor will assign you at least one of the following possible risk review components:
Ad hoc due to emergency events
Gateway or stage transition reviews
Ongoing through team member assigned responsibility
Regular risk discussions at project meetings
Scheduled formal reviews
Risk control audits
Risk insurance review
Contract reviews (internal and external)
Review of internal processes
Incident debriefs
Test/trial events.
Outline the benefits of the component to a risk review process in no more than 300 words.
ACTIVITY 4B
What things should you be looking out for when monitoring the risk environment?
What changes might occur to the internal and external environments within a risk context?
ACTIVITY 4C
Explain the following concepts in no more than 50 words each:
Emergency response
Recovery response
Continuity response
How might you deal with changes to the risk environment?
ACTIVITY 4D
Outline the following concepts in no more than 60 words each:
Accept risk
Mitigate risk
Transfer or share risk
Avoid risk.
Give four examples of risk control options. Briefly outline them.
ACTIVITY 5A
1. Create a checklist for determining the effectiveness of risk management processes and procedures.
ACTIVITY 5B
What types of risk management issues might you need to document?
What things do you need to keep in mind when creating documentation (in general)?
What do I need to hand in for this task?
Have I completed this?
Your answers to each question
Complete the Student’s Self-evaluation Checklist
FOR STUDENT TO COMPLETE
Assessment Task 1: Written Questions A
Student’s self-evaluation checklist
In completing this assessment task, I have developed knowledge and understanding of key topics in relation to:
Tick or X
1.
determining risk objectives and standards, with input from stakeholders
2.
establishing project risk context to inform risk management processes.
3.
identifying project risks using valid and reliable risk identification methods
4.
classifying project risks within agreed risk categories
5.
determining risk analysis classification criteria and apply to agreed risk ranking system.
6.
using risk analysis processes, within delegated authority, to analyse and qualify risks, threats and opportunities
7.
determining risk priorities in agreement with project client and other stakeholders
8.
Documenting risk analysis outcomes for inclusion in risk register and risk management plan
9.
identifying and document existing risk controls
10.
considering and determine risk treatment options using agreed consultative methods
11.
recording and implementing agreed risk treatments
12.
updating risk plans and allocating risk responsibilities to project team members
13.
establishing regular risk review processes to maintain currency of risk plans
14.
regular monitoring risk environment to identify changed circumstances impacting on project risks
15.
determining risk responses to changed environment
16.
implementing agreed risk responses and modifying plans to maintain currency of risk treatments and controls
17.
reviewing project outcomes to determine effectiveness of risk management processes and procedures.
18.
identifying and documenting risk management issues and recommending improvements for application to future projects
I confirm that the above self-evaluation checklist are true and correct.
Student Name:
Student Signature:
BSBPMG508A Manage project risk
Student Assessment Booklet
Version 2.0 October 2020, Approved Quality assurance & Compliance Manager Pan Bird Pty Ltd t/a Tr4in Right l RTO Code 22281 l CRICOS Code 03618G Copyright © 2020 Tr4in Right
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