Assignment Task 1: Risk analysis and planning project
Task summary:
In this Assessment Part you must contribute to developing risk management strategies and a risk management plan.
This assessment is to be completed in the simulated work environment in the SMC.
Required:
- Access to textbooks/other learning materials
- Computer with Microsoft Office and internet access
- Risk Management Policy and Procedures
- Risk Register Template
- Risk Management Notes Template
- Space for a meeting
- Role-play participants
Assessment Part 1 Instructions:
Carefully read the following:
Case: NatureCare Products
Complete the following activities:
Activity 1: Identify project risk
The first part of this Assessment Parts requires you to contribute to the development of the project's Risk Management Plan. The plan will be completed after consultation with the other team members, but you are expected to bring your ideas to the meeting. You will be a contributor to, not the author of, the project's Risk Management Plan.
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:
- At least three potential risks. For each state at what stage of the project's life cycle they would be encountered, and how it could be considered an opportunity.
- A summary of the risk-analysis methods, techniques and tools you use to identify and prioritise the project risks. You are required to identify the tools that you used to help you determine the potential risks for this project
- The priority of the risks that you have identified.
- Explain strategies for managing the project risks.
- Suggest how the potential risks could be monitored.
- Suggest risk contingency methods for treating the potential risks.
You will be determining the risks 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.
Record your notes in the Risk Management Notes Template.
Activity 2: Send an email to the Project 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 summarize the contents of the attachment, and ask for the place, time and date of your meeting.
Activity 3: Participate in a meeting with the Project team and the CEO.
At the meeting, go through your risk management notes 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 methods or tools that you used to identify the risks.
For each risk that you have identified, state at which stage of the project life-cycle that it would occur, and how it could be looked at as presenting an opportunity.
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 notes.
Agree on risks that need to be documented in the Risk Register as set out in the Policy and Procedures, as well as actions (risk contingency measures) that should be taken for each risk.
You will be asked about the importance of risk contingency measures in the planning stage of projects. Think about this and conduct research to explain why they are so important.
You will also be asked about how you could apply the strategies for managing risks that you have identified could be applied to other projects. You will not be expected to develop these strategies in depth, but you should be able to demonstrate that the strategies that you have used are broadly applicable.
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
Activity 4: Revise your risk management plan.
Use the input from the stakeholders at the Project Team meeting to revise your risk management plan.
Name this document Risk Management Plan.
Activity 5: Complete the Risk Register.
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.
- Document risk contingency measures for each identified risk.
Use the Risk Register Template to guide your work.
Activity 6: Send an email to the Project Manager (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
Assignment Task 2: Risk control activities project
Task summary:
In this Assessment Part, you will need to review activities that will be, and have been, undertaken as part of the company's risk control measures.
Complete the following activities:
Activity 1: Write a report on staff training options
Review the case study information and then research a range of potential training options for the customer service representatives, including both on and off the job options.
Identify at least three suitable options.
Develop a short report outlining your recommended option/s for the training, including a rationale for each recommendation.
Give the details of each recommended training option, including a summary of the training to be provided and outcomes, location, costs and duration. Research external courses as though they should be attended within the next three months, in the same city as your SMC.
As stipulated in the NatureCare Risk Management Policy and Procedures, your report should also identify any additional opportunities or risks that may arise from the training options that you identify.
Activity 2: Send an email to the Project 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 summarize the contents of the attachment and seek their feedback and approval to move forward with the project.
Attach your staff training report to the email.
The Project Manager will send you an email providing comments and approval to proceed with the training course that they select from your report.
Activity 3: Send an email to the staff members who will undergo training (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 summarize the training that they will participate in. Provide all the necessary details of the training for the staff member.
It is six months later and, as part of the monthly project review, you are monitoring the implementation of this risk treatment to ensure that the retail outlets have sufficient qualified staff. Both managers participated in a formal, nationally recognized course in management which they completed over the last six months.
You have been provided with the following information by your team, which you will use to monitor the implementation of the action plan:
- The new Human Resources Manager has provided you with performance review information for the two Managers, as well as a staff survey conducted to assess employee satisfaction.
- The Marketing Manager has provided you with sales analysis for the last six months, as well as a memo about a recent customer survey.
Activity 4: Write a risk monitoring report.
In order to monitor risk control activities, you are required to review the following documents:
- Customer Survey Results Memo
- Sales Data Analysis Memo
- Staff Survey Results Memo
- Performance Review Results Memo
Develop a risk monitoring report that provides a summary of the data provided to you, and documents what the data shows in relation to how well the activities are achieving their objectives.
Your report should advise the Project Manager of any circumstances that have changed since the last review and suggest amendments to plans that would address the changed circumstances. These will include any additional risk control measures that could be implemented to mitigate the risk.
As stipulated in the NatureCare Risk Management Policy and Procedures, your report should also identify opportunities as well as risks.
Activity 5: Send an email to the Project 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 summarize the contents of the attachment.
Assignment Task 3: Risk management outcomes assessment
Task summary:
In this Assessment Part you will need to monitor the effectiveness of risk management activities and contribute to the Project Manager's annual report.
It is now six months later, and the retail stores are now well established. Each store employs a Manager, 2 full-time retail assistants and several part-time and casual staff.
Financially, both stores are still performing well, and are already covering their own overheads.
A week ago, both managers were asked to give feedback on how the training that they received helped prepare them for the tasks that they perform today. Their responses are collated in Management Trainee Responses.
Complete the following activities:
Activity 1: Report on risk management
Write about a page of notes for the Project 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
- Any changed circumstances that impact on the project risks
- Suggested responses to the changed environment
- Recommended improvements for application to future projects
Use Evaluation Notes Template to guide your work.
Your evaluation report should be between half a page and a page long.
Activity 2: Send an email to the Project 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 summarize the contents of the attachment and seek their feedback and approval to move forward with the project.
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Attachment:- Apply project risk management techniques.rar