Reference no: EM132470448 , Length: word count:5000

MAN6301 - Project Risk Management - Edith Cowan University

On successful completion of these assessments students should be able to:
LO1. Identify project-related risks.
LO2. Evaluate quantitative and qualitative approaches to project risk analysis.
LO3. Develop both routine and creative risk response plans
LO4. Develop a cromprehensive risk management plan for an authentic project context.

Assignment - Task 1A

Risk Management Data Collection

Instructions

Begin by accessing the following article: Hanstad, D. (2012). Risk management in major sporting events: A participating national olympic team's perspective. Event Management, 16(3), 189-201.

You are required to develop a report about project risk management as specified below. It should be constructed using the material contained in the paper with the above title published by Dag Vidar Hanstad in 2012 and any other information that you think is relevant. The case study above provides a discussion on how Norway's national team prepared for the 2010 Olympic Games in Vancouver. In other words, it examines risk management from the participant's perspectives and not that of the host.

You are required to produce a report for the Australian Olympics Management Committee entitled:

"Risk Assessment of the 2020 Tokyo Olympic Games for the Australian National Athletics Team".

The project is sending the Australian athletics team to participate in the 2020 Tokyo Summer Olympic Games, held from 24 July 2020 to 9 August 2020 in Tokyo, Japan. It is important that both negative as well as positive risk events/conditions be identified and evaluated.

The assignment should be completed in two parts. This first element is Part 1: Risk Management Data collection (worth 30%). For this first assignment you are required to collect data in respect of the risks facing the Australian Athletics team with specific relevance to the Tokyo Olympic Games. Collect data that refers to this event taking into account the risks outlined in the case study referred to above as well as others that you can justify for consideration.

You should present the data collection to reflect a structured approach to the treatment of each risk:

• Naming the risk precisely (e.g. "There is a risk that...")
• Stating the point at which the risk may occur
• Describing the risk succinctly
• Classifying the risk using appropriate risk breakdown categories
• Assessing the risk
• Justifying its inclusion through research, published cases, news reports etc
It is mandatory that you provide an audit trail of your data collection activities: sources of data (e.g. internet URL, brochures), dates when the data was obtained (e.g. dates internet was accessed). You should also consider the risk tolerance of the organisation towards the risk.

Assignment 1 - Task 1B

Risk Management Business Report

Instructions

This assessment builds on the work you completed for assessment 1 and any feedback you have received for it. Assessment 2 requires you to take the risks you have identified in Assessment 1 and analyse them using a qualitative approach. Then create a formal report in a business report format that covers the following topics:
• Aim and Success Criteria for project
• Risk Appetite and Tolerance
• Risk Breakdown Structure
• Risk Probabilities
• Risk Consequences
• Risk Severity Matrix
• Risk Responses Strategy
• Risk Register
It is important that you use the data you collected in Assessment 1 and are guided by the material provided in the unit modules and other readings. When put together the whole report should reflect a professional business report standard and the written parts should be no more than 5000 words long (excluding title page, contents page, appendices and references).

Assignment 2 - Presentation

Background

This assessment uses your reflection on the work you have undertaken over the semester to create project risk documentation. Reflection is a vital element to project management since it requires you to identify and assess:

1. What went well?
2. What didn't go so well?
3. What you would do differently next time?

This forms part of wider lessons-learned for your project. Although a formal lessons-learned workshop is a planned activity that should be held at the end of the project (or stage), in modern project environments, it is also common to seek and exploit lessons-learned at team meetings, at reviews and during heath checks and audits throughout the life cycle of a project including at the end of your planning for project risk management. The value to you in undertaking this assessment is to become familiar with this process.

Assessment instructions

For this assessment, you are required to create a Panopto video presentation (maximum duration 15 minutes) and single A3 page infographic (or 2 x A4 pages). In your assessment, you should reflect on and answer 3 questions:

Question 1. What went well in your unit and assessment work this semester in this unit?

Question 2. What didn't go so well?

Question 3. What would you do differently next time to improve your performance on future projects?

The focus of the 3 questions is your learning experience, your research and preparation for creating various project documents and the knowledge you have gained during the unit.