Reference no: EM133609769

Manage program risk

Section 1: Establish and support program risk management

Summarise information about your chosen organisation as it relates to the program you will manage (including the desired outcomes)

Identify stakeholders
Which stakeholders are associated with managing the risk of the program?
How are they associated with the risk management process?

Identify communication requirements
Provide three examples of when communication with stakeholders may be required across the program to manage risk.
Why is the communication important for risk management?
Select threeappropriate methods that may be used for the communication.

Document initial ideas about the program risk management
What are potential program risks?
What is the current risk management approach (e.g. according to existing policies and procedures)?
Describe an ideal program methodology to address the risks.
How should risk management be integrated across the program?
When should risks be monitored and assessed across the program?
Attach any existing risk approach information to this section of the portfolio (e.g. risk management policy and procedures).

Prepare discussion points for a meeting with other stakeholders

Summarise your meeting with stakeholders
Who attended the meeting?
Explain how the stakeholders were diverse (e.g. different gender, ages, cultural, ability, role etc.).
What did you discuss and agree on?
Attach proof of your stakeholder meeting (unless already viewed in person by your assessor).
Develop a Risk Management Plan
You must document and analyse at least five risks and treatment measures.
Also prioritise each risk and assign an order for treating risks.
Attach your plan to this section of your portfolio.

Draft an email to share your Risk Management Plan with stakeholders
Attach your draft email to this section of the portfolio.

Create a Mentoring Plan for one project Manager.
Attach your Mentoring Plan to this section of the portfolio.
Attach proof of your mentoring session to this section of the portfolio (unless already viewed in person by the assessor).

Section 2: Manage program risk

Draft an email to relevant program stakeholders requesting program updates
Attach your draft email to this section of the portfolio.

Summarise program progress
How have projects in the program progressed?
Identify at least two different variances to desired outcomes that have actuated risks.

Perform impact analysis for each identified variance
What is the impact of the variance over time?
How does the variance impact the program objectives?
What should be done to correct the impact of the variance (what remedial action is required)?

Request authorisation for the risk responses to be actioned
Attach your draft email to this section of the portfolio.

Respond to stakeholder responses to your request for a progress update by drafting an email
Attach your draft email to this section of the portfolio.

Initiate a risk response for each variance
Action the authorised remedial actions.
Attach proof of how you initiated a risk response for each variance.
Attach proof of your updated Risk Management Plan.

Section 3: Evaluate risk management processes

Seek feedback about risk management outcomes from program stakeholdersby creating a survey
Attach your survey to this section of your portfolio.

Analyse program outcomes
What was achieved?
Were the objectives met?
What went wrong?
What was successful?

Evaluate the overall risk management process
Make sure you answer from your own personal experience during this assessment.
Was it easy or difficult to identify risks?
Was staff input (at the meeting) helpful?
How confident are you that all program risks have been identified?
Consider whether the process indicated in the current Risk Management Policy and Procedures is sufficient to guide the risk management process for program management. Explain why or why not.
Explain whether the principles of risk management in the risk management policy and procedure is consistent with AS/NZS ISO31000:2009 Risk Management Principles and Guidance.
What changes would you recommend to the risk management process and to assist program management outcomes and lessons learned for other programs?
What lesson have you learned for future risk management?

Update Project management Plan to document residual risk
What residual risk exists (at least one)?
Add review comments to the plan to document lessons learned.
Highlight any changes.
Attach your updated Project management Plan to this section of the portfolio.

Draft an email to respond to feedback, document risk-management outcomes and transfer liability for the risk
Attach the draft email to this section of the portfolio.

Case Study - Grow Management Consultants

Grow Management Consultants specialises in leadership consultancy. It has been operational for five years. The company offers a range of services to assist companies to assess leadership behaviour of existing managers and performance metrics. The leadership program consists of:
leadership conference
professional development workshops
an E-book.
The objectives of this program align with Grow management consultant's strategic goals and objectives (outlined in the Strategic Plan). The specific objectives are:
Achieve profits of at least 10% per annum.
Customer-centred practice, with a focus on meeting their total needs for high-quality management.
Strengthen the skills of our people, to better support customers.
Each year the company runs a Leadership Conference in October. Daniel Streep, the Administration Manager is responsible for organising this year's Conference. Dan has been responsible for the Conference for the last two years. The speakers who are invited are industry and academic leaders who are well known and respected. Most of them rarely speak in public, which means that the Conference is always well attended. It has shown a small profit every year it has been run.
The company offers regular professional development workshops on all aspects of leading and managing staff. The workshops are conducted every 3 months in Sydney, Brisbane and Melbourne, where they also double as networking events. The workshops are also offered to businesses, who run them for their management as part of their ongoing education programs. In 2020/2021, the company ran a total of 36 workshops. The Operations Manager, Donna Chisholm is responsible for organising and developing all the workshops.
The workshops are the principle means of advertising for the company's consultancy services, where most of Grow Management Consultant's income is generated. The senior consultants run the workshops. They, and their assistants (who also work as consultants), then use the contacts generated there to get commissions to carry out management-level assessments and projects for the company. Donna co-ordinates the consultants with the workshops.
The company has also produced an E-book Business Growth Leadership Techniques. The E-book has had reasonable sales, but these have been restricted to Conference and workshop attendees, where they have been well received. Several senior consultants have also expressed interest in writing an eBook in their area of expertise. The eBook project that was developed was led by Erin O'Donnell, who has been the company's Marketing Manager for three years. The eBook was identified as a company asset that could generate more income with more effective marketing, and Erin was appointed the eBook Project Manager.

Information relevant to Section 1 of the Project Portfolio
The help you get started, the CEO has forwarded a summary of the feedback from stakeholders involved in program risk management to date:
Risk Management Plan needs to be very clear and comprehensive
Use a range of risk management tools and techniques
Involve stakeholders early in the risk management process
Prioritise risks
Carefully analyse risks to determine appropriate risk feedback.
Monitor risks carefully as they can change.
Your risk management plan has been approved by the CEO and all stakeholders are on board and excited about the benefits that the program will bring to the organisation.
Dan Streep approaches you. He asks you if it would be possible to develop a mentoring relationship with you as he is interested in learning more about program risk management and moving into program role in the future with a particular focus on program risk management which reflects his area of interest. He would also like to know more about program risk management generally, as well as how to identify program risks and analysis, evaluation and treatment of risks in the context of program management.

Attachment:- Manage program risk.rar