Course Title: Manage project risk

Part B: Course Detail

Teaching Period: Term2 2023

Course Code: BUSM6659C

Course Title: Manage project risk

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209. 

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus 

 

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 

School: 525T Business & Enterprise

Campus: City Campus

Program: C5405 - Diploma of Project Management

Course Contact: Nick Reynolds

Course Contact Phone: +61399250791

Course Contact Email: nick.reynolds@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Sukant Arora

sukant.arora@rmit.edu.au

Nominal Hours: 40

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

In this course you will learn the skills and knowledge required to manage risks that may impact achievement of project objectives.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBPMG536 Manage project risk

Element:

1. Identify project risks

Performance Criteria:

1.1 Identify risk objectives and standards, with input from stakeholders

1.2 Identify project risk context to inform risk management processes

1.3 Identify project risks using valid and reliable risk identification methods

Element:

2. Analyse project risks

Performance Criteria:

2.1 Identify risk analysis classification criteria and apply to agreed risk ranking system

2.2 Use risk analysis processes, within delegated authority, to analyse and qualify any risks, threats and opportunities

2.3 Identify risk priorities in agreement with project client and other stakeholders

2.4 Document risk analysis outcomes for inclusion in risk register and risk management plan

Element:

3. Establish risk treatments and controls

Performance Criteria:

3.1 Identify and document existing risk controls

3.2 Analyse risk treatment options using agreed consultative methods

3.3 Record and implement agreed risk treatments

3.4 Update risk plans and allocate risk responsibilities to project team members

Element:

4. Monitor and control project risks

Performance Criteria:

4.1 Establish risk review processes

4.2 Monitor risk environment and identify changed circumstances impacting project risks

4.3 Evaluate risk responses to changed environment

4.4 Implement agreed risk responses and modify plans

Element:

5. Assess risk management outcomes

Performance Criteria:

5.1 Review project outcomes for effectiveness of risk-management processes and procedures

5.2 Develop recommended improvements for application in future projects

5.3 Identify and document risk management issues and recommended improvements for application to future projects

Learning Outcomes


On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.


Details of Learning Activities

The objectives of this course are to develop the foundational of skills and knowledge required to manage risks that may impact achievement of project objectives. It involves identifying, analysing, treating and monitoring project risks, and assessing risk management outcomes.

You will also explore how it applies to individuals responsible for managing and leading a project in an organisation, business, or as a consultant.

The main elements of this course include:

  • Identify project risks

  • Analyse project risks

  • Establish risk treatments and controls

  • Monitor and control project risks

  • Assess risk management outcomes


Teaching Schedule

WeekWeek CommencingTopicAssessment / Learning activities
Week 1 10 July 2023

Introduction to the course

  • Staff/student introduction
  • Overview of course
  • Plagiarism, student code of conduct
  • Student support services
  • Course outline and lesson structure
  • 'Rules of engagement'
  • Assessments

 

  
Week 2 17 July 2023

 Identify project risks

AT1A Due

(Saturday 11:59 PM)
Week 3 24 July 2023

Analyse project risks

AT1B Due

(Saturday 11:59 PM)
Week 4 31 July 2023

Establish risk treatments and controls

AT1C Due 

(Saturday 11:59 PM)
Week 5 7 Aug 2023 Monitor and control project risks

AT2A Due

(Saturday 11:59 PM)
Week 6 14 Aug 2023

Assess risk management outcomes

AT2B Due

(Saturday 11:59 PM)
Week 7 21 Aug 2023

Revision

AT2C Due

(Saturday 11:59 PM)

 

Mid-Semester Break

28 August - 3 September

Weeks 8 4 Sep 2023 Assessment resubmissions

Resubmissions

(Saturday 11:59 PM)

 


Learning Resources

Prescribed Texts


References


Other Resources

None


Overview of Assessment

Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.


Assessment Tasks

Assessment 1A

Access the Eco-Natural Risk Management Policy and Procedures, Risk Management Plan Template, and the Risk Register Template (supplied as additional support documents) and read through each to familiarise yourself with them. 

Make project risk notes for the Eco-Natural Skincare case study and Risk Management Policy and Procedures to populate the Risk Management Plan, including: 

  • the project risk context 
  • existing risk controls 
  • risk objectives and standards 
  • risk identification methods used to identify the project risks 
  • an appropriate risk ranking system 
  • risk analysis classification criteria 
  • classification of the identified risks within risk categories 
  • risk priorities 

Add the identified risks and any proposed control measures you have so far, in the Risk Register. It won’t be complete – it will only list the risks you have identified so far. 

You will be determining the risks and their context more clearly during the meeting with the project team (in Part B of this Assessment Task). However, your preliminary notes should demonstrate that you can identify the case study project’s risks yourself. 

Prepare an email to Gavin Stead and attach the draft Risk Management Plan and draft Risk Register: 

  • Download the TM001 Email Template from the CBSA website. 
  • Prepare an email to Gavin Stead, as requested.  
  • Attach the draft Risk Management Plan, with your project risk notes included, and the draft Risk Register: 
  • The email must introduce and summarise the contents of the attachment, and ask for the place, time and date of your meeting. 
  • The text of the email must be in grammatically correct English, written in an appropriate (polite, business-like) style. 

Assessment 1B

The Managing Director, Gavin Stead, has set up a meeting with the project team. Read his email below to understand the purpose and agenda for the meeting.  

  • Project Team Members include:  
  • Tina Hughes, CBSA Project Manager 
  • Gavin Stead, CBSA Managing Director 
  • Natasha Tweed, HR Manager at Eco-Natural Skincare 
  • Raelene Priest, Store Manager at Brisbane City store of Eco-Natural Skincare 
  • Henry Thomas, CBSA Governance Manager 

 

Assessment 1C

You must complete all parts of the task outlined below. 

In this part, you are to use your notes taken during the meeting in Part B to: 

1. Prepare the Minutes of the Meeting: 

  • Download the TM007 Meeting Minutes Template from the CBSA website. 
  • Complete the Minutes of the Project Meeting, noting any actions and the next meeting date. 

2. Update the draft Risk Management Plan (from Part B) with information obtained from and agreed at the project meeting. 

  • Allocate risk responsibilities to project team members. 

3. Update the draft Risk Register (from Part B) with identified risks, analysis of each risk, risk control measures and actions for each risk. The Risk Register will be attached to an email in Part F of this Assessment Task. 

You must then send all of the new and updated documents to Gavin Stead via email, and: 

  • Introduce the completed documents, which you have attached to the email: 
  • Minutes of the Meeting 
  • Risk Management Plan  
  • Risk Register. 
  • Include in the email, a request to progress with the project. 

Assessment 2A

You must complete all parts of the task outlined below. 

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. 

Assessment 2B

In this task, you will assume that CBSA Managing Director and the Human Resources Manager of Eco-Natural Skincare have given you the approval to implement two of the risk responses you listed in your Evaluation Report in Part A. 

There are three tasks in this Part: 

A) Select the two Risk Responses, you proposed in Part A of this Assessment Task, you feel will be most beneficial to the Retail Store Managers of Eco-Natural Skincare outlets. 

B) Develop guidelines for the Store Managers to implement both of the Risk Responses you have selected. You might choose to present the guidelines as a process or list. 

C) Use the TM001 Email Template and prepare an email to the Retail Store Managers and copy in Eco-Natural’s Human Resources Manager. In the body of the email include: 

  • the guidelines you have developed 
  • the dates for completion of the implementation of the two risk responses. The dates should be in line with any Action dates in the Evaluation Report. 

 

 


Assessment Matrix

Available on Canvas

Other Information

None

Course Overview: Access Course Overview