Essay BSBPMG517: Manage Project Risk- Risk Treatment Evaluation Project – Management Assignment Help

Assignment Task:

Task:

Assessment InformationThe assessment tasks for BSBPMG517 Manage project risk are included in this Student Assessment Tasks booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, the student must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task Overview
1. Written questions Students must correctly answer all questions.
2. Risk identification and analysis project Students must identify, analyse and evaluate human resources risks associated with establishing new retail outlets for a company
3. Risk treatment evaluation project Students must evaluate a risk control measure, and implement changes in response to this.
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for clarification if you have any questions at all.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’s assessment appeals process.
Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.

Naming electronic documents
Students are directed to name documents logically.
Each should include:
Course identification code
Assessment Task number
Document title (if appropriate)
Student name
Date it was created
For example, BSBPMG517 AT2 Risk Register Joan Smith 20/04/18
All documents should be filed in a folder named after the unit code, and sub-folders named after the assessment tasks.
Additional Resources
The following resources will be given to you before you begin each Assessment Task.
Assessment Task 2
Risk Management Policy and Procedures
Risk Register Template
Risk Management Plan Template
Assessment Task 3
Training Survey Results
Manager Feedback
Evaluation Report Template

Assessment InstructionsEach assessment task in this booklet consists of the following:
Assessment Task Cover Sheet
This must be filled out, signed and submitted together with your assessment responses.
If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.
If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit the file.
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per
your RTO’s re-assessment policy.
Depending on the task, this may include
resubmitting incorrect answers to questions (such as short answer questions and case studies)
resubmitting part or all of a project, depending on how the error impacts on the total outcome of the task
redoing a role play after being provided with appropriate feedback about your performance
being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily completed the first time, after being provided with appropriate feedback.
Assessment Task Information
This gives you:
a summary of the assessment task
information on the resources to be used
submission requirements
re-submission opportunities if required
Assessment Task Instructions
These give questions to answer or tasks which are to be completed.
Your answers need to be typed up using software as indicated in the Assessment Task Instructions.
Copy and paste each task’s instructions into a new document and use this as the basis for your assessment task submission. Include this document’s header and footer.
If you are submitting electronically, give the document a file name that includes the unit identification number, the task number, your name and the date.
Checklist
This will be used by your assessor to mark your assessment. Read through this as part of your preparation before beginning the assessment task. It will give you a good idea of what your assessor will be looking for when marking your responses.

Student Assessment AgreementMake sure you read through the assessments in this booklet before you fill out and sign the agreement below.
If there is anything that you are unsure of, consult your assessor prior to signing this agreement.
Have you read the assessment requirements for this unit? Yes No
Do you understand the requirements of the assessments for this unit? Yes No
Do you agree to the way in which you are being assessed? Yes No
Do you have any specific needs that should be considered? Yes No
If so, explain these in the space below.
Do you understand your rights to re-assessment? Yes No
Do you understand your right to appeal the decisions made in an assessment? Yes No
Student name Student number Student signature Date Assessor name Assessor signature Date
Assessment Task 1: Written Questions
Task summary
You need to answer all of the written questions correctly.
Your answers must be word processed and sent to the assessor as an email attachment. 
Required
Access to textbooks/other learning materials
Computer and Microsoft Office
Access to the internet
Timing
Your assessor will advise you of the due date of this assessment.
Submit
Answers to all questions
Assessment criteria
All questions must be answered correctly in order for a student to be assessed as having completed the task satisfactorily.
Re-submission opportunities
Students will be provided feedback on their performance by their Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.
Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.
Students are encouraged to consult with their assessor prior to attempting this task if they do not understand any part of this task or if they have any learning issues or needs that may hinder them when attempting any part of the assessment.

Written answer question guidance
The following written questions use a range of “instructional words” such as “identify” or “explain”, which tell you how you should answer the question. Use the definitions below to assist you to provide the type of response expected.
Note that the following guidance is the minimum level of response required.
Analyse – when a question asks you to analyse something, you should do so in in detail, and identify important points and key features. Generally, you are expected to write a response one or two paragraphs long.
Compare – when a question asks you to compare something, you will need to show how two or more things are similar, ensuring that you also indicate the relevance of the consequences. Generally, you are expected to write a response one or two paragraphs long.
Contrast – when a question asks you to contrast something, you will need to show how two or more things are different, ensuring you indicate the relevance or the consequences. Generally, you are expected to write a response one or two paragraphs long.
Discuss – when a question asks you to discuss something, you are required to point out important issues or features, and express some form of critical judgement. Generally, you are expected to write a response one or two paragraphs long.
Describe – when a question asks you to describe something, you should state the most noticeable qualities or features. Generally, you are expected to write a response two or three sentences long.
Evaluate – when a question asks you to evaluate something, you should do so putting forward arguments for and against something. Generally, you are expected to write a response one or two paragraphs long.
Examine – when a question asks you to examine something, this is similar to “analyse”, where you should provide a detailed response with key points and features and provide critical analysis. Generally, you are expected to write a response one or two paragraphs long.
Explain – when a question asks you to explain something, you should make clear how or why something happened or the way it is. Generally, you are expected to write a response two or three sentences long.
Identify – when a question asks you to identify something, this means that you are asked to briefly describe the required information. Generally, you are expected to write a response two or three sentences long.
List – when a question asks you to list something, this means that you are asked to briefly state information in a list format.
Outline – when a question asks you to outline something, this means giving only the main points, Generally, you are expected to write a response a few sentences long.
Summarise – when a question asks you to summarise something, this means (like “outline”) only giving the main points. Generally, you are expected to write a response a few sentences long.

Assessment Task 1 InstructionsProvide answers to all of the questions below:
Identify at least two project risks for each of the following risk categories:
Scope risk
Scheduling risk
Resource risk
Technology risk
Outline three examples of tools or techniques that could be used to identify risks as part of a risk assessment process.
Outline three sources of information that can be used to gather information on potential risks within the workplace.
Explain each of the key components of a risk management plan
Summarise the purpose of Australia/New Zealand Standard for Risk Management (AS/NZS ISO 31000:2009) and identify the key principles underlying this risk management standard.
Describe the characteristics, techniques and appropriate applications of both quantitative and qualitative risk analysis.
Outline the key steps involved in a risk management process.
Explain five options for controlling risk.

Assessment Task 2: Risk identification and analysis project
Task summary
This assessment task requires you, in the role of Project Manager at NatureCare Products, to identify, analyse and evaluate human resources risks associated with establishing new retail outlets for the company. This will involve identifying risks and then meeting with Senior Management to consult on the risks you have identified. Following this, you are required to document risks and control measures in a risk register.
This assessment is to be completed in the simulated work environment in the RTO.
Required
Computer with Microsoft Office and internet access
Risk Management Policy and Procedures
Risk Register Template
Risk Management Plan Template
Space for a meeting
Roleplay participants
Timing
The assessor will advise you of the due date of this submission.
Submit
Email to your assessor with your risk management plan attached.
Email to your assessor with your completed risk register attached.
Assessment criteria
For students’ performance to be deemed satisfactory in this assessment task, they must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed they will be asked to complete further assessment to demonstrate competence.
Re-submission opportunities
Students will be provided feedback on their performance by their Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.
Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.
Students are encouraged to consult with their assessor prior to attempting this task if they do not understand any part of this task or if they have any learning issues or needs that may hinder them when attempting any part of the assessment.

Assessment Task 2 Instructions
Carefully read the following:
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NatureCare Products is an Australian company based in Brisbane. The company commenced business in 1996 and manufactures and eco-friendly, high quality beauty skin care products. The business was established to cater for a growing demand for skin products that contain eco-friendly and natural ingredients. There is also an emphasis on eco-friendly packaging.
The company sells its products in health food shops across the country, as well as on-line through its own web site. The company targets customers that want high quality, eco-friendly products. Market research has identified that around 70% of customers are professional women aged 25 to 55.
The company currently has a small range of products that include:
Cleansing creams to soothe skin during make-up removal. Primary ingredients include Shea butter to nourish the skin and plants extracts that are also rich in essential oils with regenerating and anti-inflammatory properties. This product will be for delicate and mature skins and could also be used as a baby cream.
Multi Protection Day Moisturizing Creams for dry to normal skin types that help protect the skin during the day and includes Shea butter and extracts from fragile green algae that provides hydrating and protective properties.
Regenerating facial scrub to clean off dead skin cells to promote regeneration of healthy new cells. This product will be used for most skin types.
The strategic objectives of the company are to increase market share by 20% At a recent board meeting the two company shareholders and the CEO discussed options for expanding the business and have decided to establish a chain of retail outlets in central Sydney and Melbourne within the next six months.
The company is also currently developing more products focusing on a range of products to meet particular skin needs rather than a one-size fits all. The new products are timed to be ready for sale at the same time as the opening of the new retail outlets.
The CEO has asked you to take on the role of Project Manager for the business expansion project.

Complete the following activities:
Identify project risk
Review the scenario information, as well as the Risk Management Policy and Procedures.
Review also the Risk Management Plan Template and the Risk Register Template
Take project risk notes that include the following:
Identify risk objectives and standards.
Summary of the risk identification methods used to identify the project risks.
Establish the project risk context.
Identify an appropriate risk ranking system
Determine risk analysis classification criteria
Classify the identified risks within risk categories
Determine risk priorities
You will be determining the risks and their context more clearly during the meeting with the project team, but these preliminary notes should demonstrate that you can identify the case study project’s risks yourself.
Send an email to the General Manager (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment, and ask for the place, time and date of your meeting.
Attach your project risk notes to the email.

Participate in a meeting with the Project team and the CEO.
At the meeting, go through your risk management plan with the attendees, ensuring that they agree with the assumptions that you have made. Describe each of the risks that you have identified, as well as the questions you considered to identify the risks.
Ensure that the meeting participants agree with your risk ranking system, and how it applies to your analysis classification criteria.
Discuss the likelihood and the severity of each risk, and its overall risk rating as set out in the Risk Register.
Discuss also possible treatments for each risk. For each treatment, identify and discuss their strengths and weaknesses as set out in your report.
Agree on risks that need to be documented in the Risk Register as set out in the Policy and Procedures, as well as actions (treatment control measures) that should be taken for each risk.
Allocate risk responsibilities to project team members. Discuss with management who should be responsible for each risk management treatment or control method. These staff may not be senior management, but may be appointed to the project team for this reason.
During the meeting, you will need to demonstrate effective communication skills including:
Speaking clearly and concisely
Using non-verbal communication to assist with understanding
Asking questions to identify required information
Responding to questions as required
Using active listening techniques to confirm understanding

Analyse project risks
Following the meeting, you are to perform an analysis of the project risks, and incorporate this into a Risk Management Plan.
Your risk management plan should include, as a minimum:
Project risk context
Existing risk controls
Risk management objectives and standards
Risk identification methods
Risk categorisation process
industry sector risk classifications
Risk analysis classification criteria
Risk Management approaches
Risk monitoring and review processes
Describe the frequency of regular risk monitoring to identify changed circumstances.
Schedule a full review of the risk management process within six months of the new stores opening.
Risks identified
Under the Risks Identified heading, develop an initial list of risks to discuss at a meeting with senior Management. As a guide, this should be between 6 to 10 risks.
Classify project risks
Potential treatment methods
For each of the risks that you identify, suggest at least two potential treatment measures for discussion, including the strengths and weaknesses of measures of each for discussion at the meeting.
Use the Risk Management Plan Template to guide your work. Your risk management plan should be about four pages long.
Revise your risk management plan.
Use the input from the stakeholders at the Project Team meeting to revise your risk management plan.
Make sure that risk responsibilities are allocated to project team members
Name this document Revised Risk Management Plan.
Complete the Risk Register.
Use the Risk Register Template to guide your work.

• Your Risk Register should include the following:
• Documenting all of the risks as discussed at your meeting.
• Including an analysis of each risk including the likelihood of the risk occurring, as well as the severity of the risk should it occur, as well as an overall risk rating.
• Documenting risk control measures.
• Document actions for each identified risk including:
• Send an email to the CEO (your assessor).
• The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
• It should introduce and summarise the contents of the attachments.
• Attach your revised risk management plan and completed risk register to the email.
• Assessment Task 3: Risk monitoring an assessment projectTask summary
• This assessment task requires you to evaluate a risk control measure that you identified for a risk in Assessment Task 2, and implement changes in response to this.
• This assessment is to be completed in the simulated work environment in the RTO.
• Required
• Computer and Microsoft Office
• Access to the internet for research
• Training Survey Results
• Manager Feedback
• Evaluation Report Template
• Timing
• The assessor will advise you of the due date of this submission.
• Submit
• Email to your assessor with your Evaluation report attached.
• Email to your assessor announcing risk control measures implemented.
• Assessment criteria
• For students’ performance to be deemed satisfactory in this assessment task, they must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed they will be asked to complete further assessment to demonstrate competence.
• Re-submission opportunities
• Students will be provided feedback on their performance by their Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
• If any parts of the task are not satisfactorily completed your assessor will explain why and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.
• Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.
• Students are encouraged to consult with their assessor prior to attempting this task if they do not understand any part of this task or if they have any learning issues or needs that may hinder them when attempting any part of the assessment.
• Assessment Task 3 Instructions
• Carefully read the following:
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• Assume that one of the risks that you identified in your risk management plan was the inability to attract sufficiently qualified and knowledgeable staff to manage the new retail stores, and that the risk treatment identified is to invest in the training and development of existing staff to fulfil this role, at least in the short term.
• It was identified that two of the existing customer service representatives are interested in taking on this new role. Neither of the two customer service representatives have managerial skills nor knowledge, but they both have excellent company and product knowledge, as well as customer service skills. The company funded both of the staff members to attend. These staff members are currently managing the two new stores.
• A staff survey was sent to the two members of staff who completed the training, and their responses are collated in the Training Survey Results.
• It is now one year later, and the retail stores have now been established in Sydney and Melbourne for five months. Each store employs a Manager, 2 full-time retail assistants and several part-time and casual staff.
• Financially, both stores are performing well, and are already covering their own overheads.
• A week ago, both managers were asked to give feedback on how they are coping with their new responsibilities, and how the training that they received helped prepare them for the tasks that they perform today. Their responses are collated in the Manager Feedback.
• Complete the following activities:
• Monitor project risk
• As set out in the Risk monitoring and review processes section of the Risk Management Plan, regular risk review processes have to be followed to maintain the currency of the Plan.
• Monitoring the risk environment regularly helps to identify changed circumstances that may impact on the project risks.
• Review the Training Survey Results and the Manager Feedback, as well as the case study information above, and from Assessment Task 2.
• identify changed circumstances impacting project risks
• Determine risk responses to changed environment

Write a Risk Management Evaluation Report
Develop a report for the General Manager that gives an honest evaluation of how well the staff training performed as a risk management treatment. Your report should include, as a minimum, the following:

• Review the project outcomes to determine the effectiveness of:
• The risk management treatments.
• The risk management processes and procedures.
• Recommended improvements for application to future projects
• Describe the changes you would make to your Risk Management Plan to ensure that the risk treatment is more effective the next time a new store is opened.
• Identify circumstances that have changed since you wrote your risk management plan, and how the changes may impact project risks
• Determine risk responses to the changed environment