Risk identification and impact assessment

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ASSESSMENT BRIEF

Subject Code and Title PROJ6003 Project Execution and Control

Assessment Assessment 2: Risk Management (2 parts)

Part A: Module 4-5 Discussion Forum

Part B: Risk Management

Individual/Group Part A: Individual

Part B: Individual/groups

Length Part A: 850 words

Part B: 1500 words/student

Learning Outcomes 2. Critically analyse project risks and develop a range of strategies to effectively manage those risks in order to ensure expected project management outcomes.

Submission Part A: The post to be completed by end of Module 5.

Part B: By 11:55pm AEST/AEDT Sunday first half of Module 6.

Weighting 50% (Part A: 15%; Part B: 35%)

Total Marks Part A: 15 marks

Part B: 35 marks

Context:

As project work is executed, project managers make certain that quality assurance is

conducted and quality is controlled. Quality assurance consists of the activities that are

undertaken to ensure that a project uses the processes needed to meet quality requirements.

Meanwhile, quality control entails monitoring specific project results to determine whether

they meet relevant quality standards, which have been defined with the project scope.

Planning for risk management involves determining how to approach, plan and execute the

various activities required for managing project risks. Because new risks may be introduced

at any point in the project management life cycle, risk management is a continuous process.

It begins at the project-planning phase and continues throughout the project-execution

phase.

Effective communication is a key factor for managing project execution. However, project

managers may face challenges as they communicate with their teams and other project

stakeholders. Other factors such as developing, leading and managing project team members

are also critical for successfully achieving project goals.

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Instructions:

This assessment has two parts: a post (Part A) and a Risk Management report (Part B)

Part A: Module 4-5 Discussion Forum

Each student will construct a post in approximately 850 words to the following questions and

post on the Module discussion forums by the end of Module 5. Students will be graded

individually on how students demonstrate/share theories and contribute to the general

discussion of the topic within the group over weeks 7, 8 & 9.

Module 4-5 Topic: Project Status Reporting

Identify effective status reports used in project management. Discuss the challenges and

pitfalls of different status reports. Explain the difference between the status reports provided

for teams, sponsors, and steering committee. Considering the given case study, how might

these reports be applied?

Output:

Module 4-5 discussion - provide a post by the end of Module 5.

Part B: Risk Management

Create a risk management report for the given case study used in Assessment 1. In your

report, include:

NOTE: Master of Business Information Systems students must use an IT project as an

example in this assessment.

1. Risk identification and impact assessment

 Identify possible risks for the case study and critically analyse the impact of these

risks.

 Use a risk probability and impact matrix to rate and prioritise the risks.

 Develop appropriate response strategies to effectively manage identified risks.

 Complete a risk register for the case study.

2. Risk management reporting

 Identify and explain how stakeholders will be apprised of the project's ongoing

risk management activities.

The written portion of your Risk Management Plan should consist of 1500 words/student.

For students’ reference, an example of a Probability and Impact Matrix is illustrated in the

PMBOK Guide®.

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Output:

Complete and submit Part B by first half of Module 6.

Learning Resources:

Heldman, K. (2013). PMP Project Management Professional Exam Study Guide (7th ed.). Indianapolis, IN: Wiley.

 Chapter 6: Risk Planning (Read from ‘Quantifying Risk’ to ‘Summary’)

 Chapter 10: Measuring and Controlling Project Performance

 Chapter 11: Controlling Work Results (Read the section on ‘Monitoring and Controlling Risk’)

Project Management Institute. (2013). A guide to the project management body of knowledge (PMBOK Guide®) (5th ed.). Newtown Square, Pennsylvania: Project Management Institute.

 Section 10.2: Manage Communications

 Section 10.3: Control Communications

 Section 11.2: Identify Risks

 Section 11.3: Perform Qualitative Risk Analysis

 Section 11.4: Perform Quantitative Risk Analysis

 Section 11.5: Plan Risk Responses

 Section 11.6: Control Risks

 Section 13.3: Manage Stakeholder Engagement

 Section 13.4: Control Stakeholder Engagement

Snyder, C. S. (2013). A project manager’s book of forms: A companion to the PMBOK guide

(2nd ed.). Indianapolis, IN: Wiley.

 Contract Close Out template (Word document)

 Formal Acceptance Form template (Word document)

 Lessons Learned template (Word document)

 Probability and Impact Matrix Template (Word document)

 Risk Register Template (Word document)

Wysocki, R. K. (2012). Effective Project Management: Traditional, Agile, Extreme (6th ed.). Indianapolis, IN: Wiley.

 Chapter 3: Understanding the Project Management Process Groups (Read the section on ‘Risk Management’)

 Chapter 7: How to Monitor and Control a TPM

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Also, for Master of Business Information Systems students:

Chemuturi, M. (2013). Mastering IT Project Management: Best practices, tools and

techniques. Retrieved from https://lesa.on.worldcat.org/oclc/869302200

 Chapter 7: Project Control in IT Project Management

 Chapter 9: Quality Assurance in IT Project Management

Assessment Criteria:

Submitted assessments will be graded using the Learning Rubrics enclosed.

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Learning Rubric – Assessment 2 Part A: Module 4-5 Discussion Forum

Assessment Attributes

Fail (0-49)

Pass (50-64)

Credit (65-74)

Distinction (75-84)

High Distinction (85-100)

Contribution to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports 60%

Fails to contribute to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Limited knowledge of project status reporting.

Contributes to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Demonstrates limited awareness of project status reporting. Resembles a recall or summary of key ideas. Often conflates/confuses assertion of personal opinion with information substantiated by evidence from the research/course materials.

Contributes to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Shows some understanding of project status reporting. Supports personal opinion and information substantiated by evidence from the research/course materials. Demonstrates a capacity to explain and apply relevant concepts.

Contributes to identifying the challenges and pitfalls of traffic light reports, the difference between the status reports. Work shows insight and thorough understanding of project status reporting. Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials Well demonstrated capacity to explain and apply relevant concepts.

A sophisticated understanding of the challenges and pitfalls of traffic light reports, the difference between the status reports. Critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials Contribution is comprehensive and advances the class discussion.

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Effective communications 30%

Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence. No effort is made to keep audience engaged, audience cannot follow the line of reasoning.

Information, arguments and evidence are presented in a way that is not always clear and logical. Attempts are made to keep the audience engaged, but not always successful. Line of reasoning is often difficult to follow.

Information, arguments and evidence are well presented, mostly clear flow of ideas and arguments. The audience is mostly engaged, line of reasoning is easy to follow.

Information, arguments and evidence are very well presented, the presentation is logical, clear and well supported by evidence. Engages the audience, demonstrates cultural sensitivity.

Expertly presented; the presentation is logical, persuasive, and well supported by evidence, demonstrating a clear flow of ideas and arguments. Engages and sustains audience’s interest in the topic, demonstrates high levels of cultural sensitivity.

Use of academic and discipline conventions and sources of evidence 10%

Poorly written with errors in spelling, grammar. Demonstrates inconsistent use of good quality, credible and relevant research sources to support and develop ideas. There are mistakes in using the APA style.

Is written according to academic genre (e.g. with introduction, conclusion or summary) and has accurate spelling, grammar, sentence and paragraph construction. Demonstrates consistent use of credible and relevant research sources to support and develop ideas, but these are not always explicit or well developed. There are no mistakes in using the APA style.

Is well-written and adheres to the academic genre (e.g. with introduction, conclusion or summary). Demonstrates consistent use of high quality, credible and relevant research sources to support and develop ideas. There are no mistakes in using the APA style.

Is very well-written and adheres to the academic genre. Consistently demonstrates expert use of good quality, credible and relevant research sources to support and develop appropriate arguments and statements. Shows evidence of reading beyond the key reading There are no mistakes in using the APA style.

Expertly written and adheres to the academic genre. Demonstrates expert use of high-quality, credible and relevant research sources to support and develop arguments and position statements. Shows extensive evidence of reading beyond the key reading There are no mistakes in using the APA Style.

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Learning Rubric – Assessment 2 Part B: Risk Management

Assessment Attributes Fail

(0-49) Pass

(50-64) Credit (65-74)

Distinction (75-84)

High Distinction (85-100)

Critical analysis of project risks and development of a range of strategies to manage those risks 45%

Fails to analyse project risks and/or develop strategies to manage those risks

Minimal analysis of project risks and development of strategies to manage those risks Demonstrates limited awareness of risks and risk management strategies

Analyses project risks and develops strategies to manage those risks Demonstrates a capacity to explain risks and risk management strategies

Presents a coherent and detailed analysis of project risks and develops a range of strategies to manage those risks Well demonstrated capacity to explain risks and risk management strategies

Critically analyses and evaluates project risks and formulate a range of strategies to effectively manage those risks Mastery of risks and risk management strategies and application to further learning

Reporting and stakeholder communication 45%

Limited knowledge, skill and/or experience in stakeholders and communication management. Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence.

Understands stakeholders and communication management principles and processes. Information, arguments and evidence are presented in a way that is not always clear and logical.

Identifies key stakeholders and communication processes. Information, arguments and evidence are well presented, mostly clear flow of ideas and arguments.

Identifies key stakeholders and communication processes. Articulates appropriate strategies to communicate project risk analysis result with key stakeholders. Information, arguments and evidence are very well presented; the

Performs high level of communication and stakeholder analysis. Clearly demonstrates effective strategies to communicate results of the project risk analysis with a range of key stakeholders. Expertly presented; the presentation is logical, persuasive, and well supported by evidence,

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presentation is logical, clear and well supported by evidence. Demonstrates cultural sensitivity.

demonstrating a clear flow of ideas and arguments. Demonstrates high levels of cultural sensitivity

Use of academic and discipline conventions and sources of evidence 10%

Poorly written with errors in spelling, grammar. Demonstrates inconsistent use of good quality, credible and relevant research sources to support and develop ideas. There are mistakes in using the APA style.

Is written according to academic genre (e.g. with introduction, conclusion or summary) and has accurate spelling, grammar, sentence and paragraph construction. Demonstrates consistent use of credible and relevant research sources to support and develop ideas, but these are not always explicit or well developed. There are no mistakes in using the APA style.

Is well-written and adheres to the academic genre (e.g. with introduction, conclusion or summary). Demonstrates consistent use of high quality, credible and relevant research sources to support and develop ideas. There are no mistakes in using the APA style.

Is very well-written and adheres to the academic genre. Consistently demonstrates expert use of good quality, credible and relevant research sources to support and develop appropriate arguments and statements. Shows evidence of reading beyond the key reading There are no mistakes in using the APA style.

Expertly written and adheres to the academic genre. Demonstrates expert use of high-quality, credible and relevant research sources to support and develop arguments and position statements. Shows extensive evidence of reading beyond the key reading There are no mistakes in using the APA Style.