JOJO Assessment BSBPMG517 1

Student Assessment Task
BSBPMG517
Manage project risk
Student Full Name:
Student ID:
Date:
Address: Level 5, 338 Pitt Street, Sydney, NSW 2000, Australia

CRICOS Provider Code : 03544K, ABN 63162836848
Web: www.avti.edu.au
Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Assessment Task 1: Written Questions 6
Assessment Task 1 Instructions 8
Assessment Task 1 Checklist 9
Assessment Task 2: Risk identification and analysis project 10
Assessment Task 3: Risk monitoring an assessment project 17
Assessment Information
The assessment tasks for BSBPMG517 Manage project risk are included in this Student Assessment Tasks
booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, the student must complete all of the assessment tasks
satisfactorily.
Assessment Plan
Assessment Task Overview

1. Written questions Students must correctly answer all questions.
2. Risk identification and analysis project Students must identify, analyse and evaluate human
resources risks associated with establishing new retail
outlets for a company
3. Risk treatment evaluation project Students must evaluate a risk control measure, and
implement changes in response to this.
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for
clarification if you have any questions at all.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment
Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per your RTO’s
assessment appeals process.
Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with
unfairly or have other appropriate grounds for an appeal.
Naming electronic documents
Students are directed to name documents logically.
Each should include:
 Course identification code
 Assessment Task number
 Document title (if appropriate)
 Student name
 Date it was created
For example, BSBPMG517 AT2 Risk Register Joan Smith 20/04/18
All documents should be filed in a folder named after the unit code, and sub-folders named after the
assessment tasks.
Additional Resources
The following resources will be given to you before you begin each Assessment Task.
Assessment Task 2
 Risk Management Policy and Procedures
 Risk Register Template
 Risk Management Plan Template
Assessment Task 3
 Training Survey Results
 Manager Feedback
 Evaluation Report Template
Assessment Instructions
Each assessment task in this booklet consists of the following:
Assessment Task Cover Sheet

This must be filled out, signed and submitted together with your assessment responses.
If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.
If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit
the file.
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will
be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your
assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your
assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per
your RTO’s re-assessment policy.
Depending on the task, this may include

 resubmitting incorrect answers to questions (such as short answer questions and case studies)
 resubmitting part or all of a project, depending on how the error impacts on the total outcome of the
task
 redoing a role play after being provided with appropriate feedback about your performance
 being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily
completed the first time, after being provided with appropriate feedback.
Assessment Task Information

This gives you:
 a summary of the assessment task
 information on the resources to be used
 submission requirements
 re-submission opportunities if required
Assessment Task Instructions

These give questions to answer or tasks which are to be completed.
Your answers need to be typed up using software as indicated in the Assessment Task Instructions.
Copy and paste each task’s instructions into a new document and use this as the basis for your assessment
task submission. Include this document’s header and footer.
If you are submitting electronically, give the document a file name that includes the unit identification
number, the task number, your name and the date.
Checklist
This will be used by your assessor to mark your assessment. Read through this as part of your preparation
before beginning the assessment task. It will give you a good idea of what your assessor will be looking for
when marking your responses.
Assessment Task 1: Written Questions
Task summary
This is an open book test to be completed in the classroom.
A time limit of 1 hour to answer the questions is provided.
You need to answer all of the written questions correctly.
Your answers must be word processed and sent to the assessor as an email attachment.
Required
 Access to textbooks/other learning materials
 Computer and Microsoft Office
 Access to the internet
Timing
Your assessor will advise you of the due date of this assessment.
Submit
 Answers to all questions
Assessment criteria
 All questions must be answered correctly in order for a student to be assessed as having completed the
task satisfactorily.
Re-submission opportunities
Students will be provided feedback on their performance by their Assessor. The feedback will indicate if
you have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
Re-assessment attempt(s) will be arranged at a later time and date.
Students are encouraged to consult with their assessor prior to attempting this task if they do not understand
any part of this task or if they have any learning issues or needs that may hinder them when attempting any
part of the assessment.
Written answer question guidance
The following written questions use a range of “instructional words” such as “identify” or “explain”, which
tell you how you should answer the question. Use the definitions below to assist you to provide the type of
response expected.
Note that the following guidance is the minimum level of response required.
Analyse – when a question asks you to analyse something, you should do so in in detail, and identify
important points and key features. Generally, you are expected to write a response one or two paragraphs
long.
Compare – when a question asks you to compare something, you will need to show how two or more things
are similar, ensuring that you also indicate the relevance of the consequences. Generally, you are expected to
write a response one or two paragraphs long.
Contrast – when a question asks you to contrast something, you will need to show how two or more things
are different, ensuring you indicate the relevance or the consequences. Generally, you are expected to write
a response one or two paragraphs long.
Discuss – when a question asks you to discuss something, you are required to point out important issues or
features, and express some form of critical judgement. Generally, you are expected to write a response one
or two paragraphs long.
Describe – when a question asks you to describe something, you should state the most noticeable qualities
or features. Generally, you are expected to write a response two or three sentences long.
Evaluate – when a question asks you to evaluate something, you should do so putting forward arguments
for and against something. Generally, you are expected to write a response one or two paragraphs long.
Examine – when a question asks you to examine something, this is similar to “analyse”, where you should
provide a detailed response with key points and features and provide critical analysis. Generally, you are
expected to write a response one or two paragraphs long.
Explain – when a question asks you to explain something, you should make clear how or why something
happened or the way it is. Generally, you are expected to write a response two or three sentences long.
Identify – when a question asks you to identify something, this means that you are asked to briefly describe
the required information. Generally, you are expected to write a response two or three sentences long.
List – when a question asks you to list something, this means that you are asked to briefly state information
in a list format.
Outline – when a question asks you to outline something, this means giving only the main points, Generally,
you are expected to write a response a few sentences long.
Summarise – when a question asks you to summarise something, this means (like “outline”) only giving the
main points. Generally, you are expected to write a response a few sentences long.
Assessment Task 1 Instructions
Provide answers to all of the questions below:
1. Identify at least two project risks for each of the following risk categories:
a. Scope risk
b. Scope creep
c. What is not included unclearb.
d. Scheduling risk
e. A schedule assumes that data centre facility will be available for the testing phase of
aproject. However a security incident delays access to the facility
f. A previously unidentified dependency prevents a task from beginning as scheduled until along
running task is completed.
g. Is the risk that the project takes longer than scheduled. It can lead to cost risks, as longer projects
always cost more, and to performance risk, if the project is completed too late to perform its
intended tasks fully. Apart from the cost estimation and resource allocation usedin CPM, most of the
techniques used in quantitative cost risk analysis are different from those used in schedule risk
analysis.
h. c. Resource risk
i. Run out of material
j. Low inventory
k. Poor quality material
l. Project that’s delayed due to a slow budget approval processes.
m. d. Technology risk:
n. Damage equipment
o. Defective equipment
p. Compatibility equipment
q. System breakdown
2. Outline three examples of tools or techniques that could be used to identify risks as part of a risk
assessment process.
Root Cause Analysis – Root causes are determined for the identified risk. The rootcauses are further used to
identify any future risk.
Delphi Technique – a technique that involves consultation to a team of experts. A list ofrequired information
is sent to experts, responses are compiled and results are beingsent back to them for further review until a
certain consensus is reached
Decision Tree – this helps to analyze many alternatives at one single point of time and amodel of real
situation and this takes into account any future events in making todaydecision and it also helps calculate
monetary expectation value in a complex situation.
3. Outline three sources of information that can be used to gather information on potential risks
within the workplace.
-Monitoring workforce data that is relevant to business delivery

-Analyzing workforce data to identify any workforce related issue that could poserisk to delivery of the business
outcomes and outputs.
-Consulting the business to asses potential impact on business delivery and ;
-Reporting to key business stakeholders on the workforce and any associatedworkforce risk , to inform organizational
decision making towards mitigatingthese risks
4. Explain each of the key components of a risk management plan
a. Risk probability is the likelihood of the risk event occurring, there are corresponding
numeric value associated with it and that is between 0 and 1 and should be used
which and can be multiplied by the impact (next column) to determine meaningful
risk values.
b. Impact – the impact of the risk event, with the number between 0 and 1 or a dollar
value is good because results in meaningful overall risk values.
c. Response Plans –before completing a risk register, a response plan should be

created for the top 3 risks of the project. Alternatively, they could be included
outside of the table, often times a quick synopsis can make the risk register stronger.
d. Risk name/description a risk event can be described with descriptors, such as the
contractor could incur additional material supply cost and attempt to pass this onto
us. Risk identification is time consuming and should not be skirted.
e. Priority – a good risk management plan will identify the most important risk to the
project. Risk has to prioritized starting from 1 and moving on consecutively down up
until they are all prioritized.
5. Summarise the purpose of Australia/New Zealand Standard for Risk Management (AS/NZS ISO
31000:2009) and identify the key principles underlying this risk management standard.
Risk arises in all aspects of organisations operations and at all stages within the life cycle of those
operations. It offers both opportunity and threat, and must therefore be managed appropriately. This policy
confirms Triathlon WA’s commitment to adopting a strategic, consistent and structured enterprise-wide
approach to risk management in order to achieve an appropriate balance between realising opportunities for
gains and minimising losses. It should be read in conjunction with the Australian Standard on Risk
Management (AS/NZ 4360 2004) which provides the overall framework for a risk management system.
Risk management involves establishing an appropriate risk management infrastructure and culture, and
applying logical and systematic risk management processes to all stages in the life cycle of any activity,
function or operation that includes risk. By minimising losses and maximising gains, risk management
enables Triathlon WA to best meet its organisational objectives.
Risk management will be incorporated into the strategic and operational planning processes
at all levels within Triathlon WA.
 Risk and the management of risk will be categorised identified and monitored according to
the risk categories defined in the Risk Management Framework.
 Risk assessments will be conducted on all new commercial activities, ventures and projects
prior to commencement to ensure alignment with risk appetite and organisational
objectives.
 Risks will be identified, reviewed and monitored on an ongoing basis at nominated levels
within Triathlon WA. Where necessary, technical expertise should be obtained to ensure
risk identification and mitigation is robust.
 Risks will be assessed against Triathlon WA’s agreed risk assessment matrix according to
agreed definitions of likelihood and consequence.
 All identified risks will be recorded in Triathlon WA’s risk management system.
 All risks will be assigned an owner who is responsible for managing, monitoring and
ensuring that adequate controls and treatments are being applied so that risks are brought
within tolerable levels.
6. Describe the characteristics, techniques and appropriate applications of both quantitative and
qualitative risk analysis.
Perform qualitative and perform quantitative risk analysis are two processes within the project risk
management knowledge area, in the planning process group. Understanding the difference between the
two processes may be tested on the PMP, CAPM, and the PMI-RMP exams.
While qualitative risk analysis should generally be performed on all risks, for all projects, quantitative risk
analysis has a more limited use, based on the type of project, the project risks, and the availability of data
to use to conduct the quantitative analysis.
Qualitative Quantitative
1. Use word 1. Numbers
Characteristics 2. Descriptive 2. Measurable
3. Trends and pattern 3. Statistical
1. Ordinal scaling 1. Interval scaling
a. High Ex: 1,2,3,4,5
b. Med 2. Ratio
Techniques
c. Low Ex: 10:1, 1/10
2. Likelihood and
consequences
1. Exposition 1. Graphics
Application
2. Explanation 2. Computation
7. Outline the key steps involved in a risk management process.
Step 1: Identify the Risk. You and your team uncover, recognize and describe risks that might
affect your project or its outcomes. There are a number of techniques you can use to find project
risks. During this step you start to prepare your Project Risk Register.
Step 2: Analyze the risk. Once risks are identified you determine the likelihood and
consequence of each risk. You develop an understanding of the nature of the risk and its
potential to affect project goals and objectives. This information is also input to your Project
Risk Register.
Step 3: Evaluate or Rank the Risk. You evaluate or rank the risk by determining the risk
magnitude, which is the combination of likelihood and consequence. You make decisions about
whether the risk is acceptable or whether it is serious enough to warrant treatment. These risk
rankings are also added to your Project Risk Register.
Step 4: Treat the Risk. This is also referred to as Risk Response Planning. During this step you
assess your highest ranked risks and set out a plan to treat or modify these risks to achieve
acceptable risk levels. How can you minimize the probability of the negative risks as well as
enhancing the opportunities? You create risk mitigation strategies, preventive plans and
contingency plans in this step. And you add the risk treatment measures for the highest ranking
or most serious risks to your Project Risk Register.
Step 5: Monitor and Review the risk. This is the step where you take your Project Risk
Register and use it to monitor, track and review risks.
8. Explain five options for controlling risk.
1. Accept The Risk

Accepting the risk means that while you have identified it and logged it in your risk management software,
you take no action. You simply accept that it might happen and decide to deal with it if it does.
This is a good strategy to use for very small risks – risks that won’t have much of an impact on your project
if they happen and could be easily dealt with if or when they arise. It could take a lot of time to put together
an alternative risk management strategy or take action to deal with the risk, so it’s often a better use of your
resources to do nothing for small risks.
2. Avoid The Risk

You can also change your plans completely to avoid the risk. avoid riskThis is a good strategy for when a
risk has a potentially large impact on your project. For example, if January is when your company Finance
team is busy doing the corporate accounts, putting them all through a training course in January to learn a
new process isn’t going to be a great idea. There’s a risk that the accounts wouldn’t get done. It’s more
likely, though, that there’s a big risk to their ability to use the new process, since they will all be too busy in
January to attend the training or to take it in even if they do go along to the workshops. Instead, it would be
better to avoid January for training completely. Change the project plan and schedule the training for
February when the bulk of the accounting work is over.
3. Transfer The Risk

Transference is a risk management strategy that isn’t used very often and tends to be more common in
projects where there are several parties. Essentially, you transfer the impact and management of the risk to
someone else. For example, if you have a third party contracted to write your software code, you could
transfer the risk that there will be errors in the code over to them. They will then be responsible for
managing this risk, perhaps through additional training.
Normally transference arrangements are written up into project contracts. Insurance is another good
example. If you are transporting equipment as part of your project and the van is in an accident, the
insurance company will be liable for providing new equipment to replace any that was damaged. The project
team acknowledges that the accident might happen, but they won’t be responsible for dealing with sourcing
replacement kit, moving it to the right location or paying for it as that is now the responsibility of the
insurance company.
4. Mitigate The Risk

Mitigating against a risk is probably the most commonlymitigation of risk used risk management technique.
It’s also the easiest to understand and the easiest to implement. What mitigation means is that you limit the
impact of a risk, so that if it does occur, the problem it creates is smaller and easier to fix.
For example, if you are launching a new washing machine and the Sales team then have to demonstrate it to
customers, there is a risk that the Sales team don’t understand the product and can’t give good
demonstrations. As a result, they will make fewer sales and there will be less revenue for the company.
A mitigation strategy for this situation would be to provide good training to the Sales team. There could still
be a chance that some team members don’t understand the product, or they miss the training session, or they
just aren’t experts in washing machines and never will be, but the impact of the risk will be far reduced as
the majority of the team will be able to demonstrate the new machine effectively.
You can mitigate against the impact, like in this example, and you can also mitigate against the likelihood of
it happening. Sometimes the actions will be broadly the same; sometimes you’ll have to have some tasks to
reduce the chance that the risk happens and some separate tasks to make the impact of the risk smaller if it
happens.
5. Exploit The Risk

Acceptance, avoidance, transference and mitigation are great to use when the risk has a negative impact on
the project. But what if the risk has a positive impact? For example, the risk that the new washing machines
are so popular that we don’t have enough Sales staff to do the demonstrations? That’s a positive risk –
something that would have a benefit to the project and the company if it happened. In those cases, we want
to maximize the chance that the risk happens, not stop it from happening or transfer the benefit to someone
else!
Exploitation is the risk management strategy to use in these situations. Look for ways to make the risk
happen or for ways to increase the impact if it does. We could train a few junior Sales admin people to also
give washing machine demonstrations and do lots of extra marketing, so that the chance that there is lots of
interest in the new machine is increased, and there are people to do the demos if needed.
Assessment Task 1 Checklist
Student’s name:
Did the student provide a sufficient Satisfactory

and clear answer that addresses the performance Comments
suggested answer for the following? Yes No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Task Outcome: Satisfactory  Not Satisfactory 
Assessor signature
Assessor name
Date
Assessment Task 2: Risk identification and analysis project
Task summary
This assessment task requires you, in the role of Project Manager at NatureCare Products, to identify,
analyse and evaluate human resources risks associated with establishing new retail outlets for the company.
This will involve identifying risks and then meeting with Senior Management to consult on the risks you
have identified. Following this, you are required to document risks and control measures in a risk register.
This assessment is to be completed in the simulated work environment in the RTO.
Required
 Computer with Microsoft Office and internet access
 Risk Management Policy and Procedures
 Risk Register Template
 Risk Management Plan Template
 Space for a meeting
 Roleplay participants
Timing
The assessor will advise you of the due date of this submission.
Submit
 Email to your assessor with your risk management plan attached.
 Email to your assessor with your completed risk register attached.
Assessment criteria
For students’ performance to be deemed satisfactory in this assessment task, they must satisfactorily address
all of the assessment criteria. If part of this task is not satisfactorily completed they will be asked to
complete further assessment to demonstrate competence.
Carefully read the following:
NatureCare Products is an Australian company based in Brisbane. The company commenced business in
1996 and manufactures and eco-friendly, high quality beauty skin care products. The business was
established to cater for a growing demand for skin products that contain eco-friendly and natural ingredients.
There is also an emphasis on eco-friendly packaging.
The company sells its products in health food shops across the country, as well as on-line through its own
web site. The company targets customers that want high quality, eco-friendly products. Market research has
identified that around 70% of customers are professional women aged 25 to 55.
The company currently has a small range of products that include:

 Cleansing creams to soothe skin during make-up removal. Primary ingredients include Shea butter
to nourish the skin and plants extracts that are also rich in essential oils with regenerating and anti-
inflammatory properties. This product will be for delicate and mature skins and could also be used as
a baby cream.
 Multi Protection Day Moisturizing Creams for dry to normal skin types that help protect the skin
during the day and includes Shea butter and extracts from fragile green algae that provides hydrating
and protective properties.
 Regenerating facial scrub to clean off dead skin cells to promote regeneration of healthy new cells.
This product will be used for most skin types.
The strategic objectives of the company are to increase market share by 20% At a recent board meeting the
two company shareholders and the CEO discussed options for expanding the business and have decided to
establish a chain of retail outlets in central Sydney and Melbourne within the next six months.
The company is also currently developing more products focusing on a range of products to meet particular
skin needs rather than a one-size fits all. The new products are timed to be ready for sale at the same time as
the opening of the new retail outlets.
The CEO has asked you to take on the role of Project Manager for the business expansion project.
Complete the following activities:
1. Identify project risk

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:

 Identify risk objectives and standards.
 Summary of the risk identification methods used to identify the project risks.
 Establish the project risk context.
 Identify an appropriate risk ranking system
 Determine risk analysis classification criteria
 Classify the identified risks within risk categories
 Determine risk priorities
You will be determining the risks and their context 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.
Project risk context

NatureCare Products is an Australian company based in Brisbane. The company commenced
business in 1996 and manufactures and eco-friendly, high quality beauty skin care products. The
company sells its products in health’s food shops across the country and through their web site.
The company market research has identified that around 70% of customers are professional
women aged 25 to 55.
The company objectives is increase market share by 20%, and as a new strategy it plan to
expanding the business by establish a chain of retail outlets in central Sydney and Melbourne
within the next six months.
Existing risk controls

The NatureCare Products Risk Management Policy and Procedures set out the company’s best
practice risk management standards such as:
 WHS training for employees
 Budget control
 Market research into target customer needs.
 Quality testing of components
 Regular servicing of technology/equipment

Risk management objectives and standards
Objetives:
 Determine key risk indicators and key performance indicators to align effort to meet
organizational strategic goals.
 Minimize threats and enhance opportunities.
 Identify, evaluate, mitigate and control risks. Risk and Opportunity Management plan is the
key to success.
Standars:
 The risks presented in this management plan must be reviewed weekly so that everything is in
control.
 The risk management plan may only be used by authorized NatureCare Products personnel
 Any change or annotation must be documented and signed.
Risk identification methods

List at least three methods that could bae used to identify risks for the NatureCare expansion
 Conducting or supervising qualitative and/or quantitative risk analysis, such as schedule
simulation, decision analysis, contingency planning and alternative strategy development.
 Lessons learned from previous projects.
 Previous risk register.
 Risk workshops.
Industry sector risk classifications
Risks can then be classified as:

 Broadly acceptable
 Unacceptable
 Undesirable, tolerable
Some of the risk that can happen in NatureCare

Business interruption: The expansion of the project may have stoppages in its execution due to
the existence of other risks.
Regulatory / Legislative Changes: During the planning of the project, it may happen that the
regulations change which means that reprocesses would have to be carried out, which would lead
to more time and more costs.
Damage to reputation / brand: With the expansion it can happen that NatureCare loses its
reputation due to lack of advertising
Cybercrime: NatureCare must have cyber security to avoid the risk of information theft or
plagiarism
Risk categorisation process
Risk 1 run out of stock Organisational brand - CO

Risk 2 No hire appropriate staff Human resources-HR manager
Risk 3 Over bugged Finance - PM
Risk 4 Legal issues Legal - PM
Risk 5 No correct location Consultative – External economic analyst
Risk 6 New stores recognition Organisational brand CO
Risk analysis classification criteria

Risk likelihood and impact assessment processes
Reference: http://www.justgetpmp.com/2012/02/probability-and-impact-matrix.html
9. Send an email to the General 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 summarise the contents of the attachment, and ask for the place, time and
date of your meeting.
Attach your project risk notes to the email.
Dear General Manager,
Please, find attached a file with the summary of the risks identified for the NatureCare Products
expansion project, followed by a brief statement of the possible risk treatment actions.
I would like to arrange a meeting on the day of your preference to discuss in more details other
aspects of the Risk Management Plan.
Best Regards,
Project Manager
10. Participate in a meeting with the Project team and the CEO.
At the meeting, go through your risk management plan 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 questions you considered to identify the risks.
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 report.
Agree on risks that need to be documented in the Risk Register as set out in the Policy and
Procedures, as well as actions (treatment control measures) that should be taken for each risk.
Allocate risk responsibilities to project team members. Discuss with management who should be
responsible for each risk management treatment or control method. These staff may not be senior
management, but may be appointed to the project team for this reason.
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
Assessor: set up a quiet space for the meeting.
Other students should continue with their assessment tasks.
Prior to the meeting, read the student’s plan to review the risks they have identified.
Review the Risk Management Plan Assessor to identify additional risks that they may have not
identified. Jointly discuss all identified risks and agree on the six most important for documentation
in the Risk Register.
Go through each of the risks and discuss their severity and likelihood, as well as the consequences of
each.
Discuss treatment methods as set out in the student’s report and in the Risk Management Plan
Assessor.
Discuss the strengths and weaknesses of each control method and agree on appropriate treatments for
inclusion in the risk register.
Vary your responses to avoid collusion amongst students.
You will need to organise at least two other students to attend the meeting. They should have
successfully submitted their project risk notes, and should conduct their own meetings in the same
session to minimise any advantages not hosting the meeting first may give.
The team member is assigned as following:

Risk 1 run out of stock Organisational brand - CO
Risk 2 No hire appropriate staff Human resources-HR manager
Risk 3 Over bugged Finance - PM
Risk 4 Legal issues Legal - PM
Risk 5 No correct location Consultative – External economic analyst
Risk 6 New stores recognition Organisational brand CO
They are consent on jobs provided/
11. Analyse project risks
Following the meeting, you are to perform an analysis of the project risks, and incorporate this
into a Risk Management Plan.
Your risk management plan should include, as a minimum:

 Project risk context
 Existing risk controls
 Risk management objectives and standards
 Risk identification methods
 Risk categorisation process
 industry sector risk classifications
 Risk analysis classification criteria
 Risk Management approaches
 Risk monitoring and review processes
Describe the frequency of regular risk monitoring to identify changed circumstances.
Schedule a full review of the risk management process within six months of the new stores
opening.
 Risks identified
Under the Risks Identified heading, develop an initial list of risks to discuss at a meeting with
senior Management. As a guide, this should be between 6 to 10 risks.
 Classify project risks
 Potential treatment methods
For each of the risks that you identify, suggest at least two potential treatment measures for
discussion, including the strengths and weaknesses of measures of each for discussion at the
meeting.
Use the Risk Management Plan Template to guide your work. Your risk management plan should
be about four pages long.
Risk Management approaches

The next actions might need to be following to contribute in the solution or prevention or the risks
find for this project, it is necessary to advise with stakeholders before take further actions and
evaluate others options to avoid risks based on these decisions.
Risk 1 run out of stock If the decision to open two new stores Nature Care Products production
factory needs to guarantee supply enough products to sale in two stores, based in an economic
study that show the possible sales in each of the new stores.
Risk 2 Hire appropriate staff As a recommendation is necessary to hire a recruitment company

that helps in the process of staff selection and guarantee a correct sales training. The training
provided needs to be evaluated by Nature Care Human Resource Manager, and it needs to
achieve the company standards and policies.
Risk 3 Over bugged The process of open two stores is a new type of project in the company
which means a high risk of get over bugged due that is the first time that the company open a own
store. To avoid this risk is necessary to hire a Project Manager with experience in this type of
project. It could be cheaper that get over bugged trough project development.
Risk 4 Legal issues Hire an external Project Manager can help to minimise the risk of legal
issues. This person could know the legal procedures to open a new store.
Risk 5 Correct location Before decide to start the process of set up the stores is necessary to
development an economic study that helps to find a correct location. Find the correct place can
guarantee the success of sales. Additionally this economic study can evidence how many stores
are the correct to open in central Sydney.
Risk 6 New stores recognition As a brand Nature Care Products has a recognition in some
health food shops across the country, but is necessary to set up an advertising campaign about
the opening of retail outlet stores. It generate an expectative among the potential costumers, also
increase brand recognition
Risk monitoring and review processes

A week after the publication of this risk report is necessary to have a meeting with the business
expansion project team. The objective of this meeting is establish the action to avoid or prevent
further risks.
Is necessary to have a weekly meeting to let know the business expansion project team about
changes and take new decisions about the project. Those decisions need to be evaluate and add
possible risk to the risk management plan.
Is necessary to have approval of the business expansion project team to change the scope of the
project, and communicate it to all the team work involved it that change.
Each of the meetings and project changes needs to registered and record to prevent
misunderstands.
Risks identified
1. To open a two new stores Nature Care Products production factory needs to guarantee
supply enough products to sale in two stores, these with the objective of never get in a
situation of run out of stock.
2. Get new costumers and keep the actual ones is necessary to keep the business running
that way is necessary to hire an appropriate staff to avoid the loose of costumers.
3. Spend more money in set up the new stores the amount initially considered.
4. Is necessary to considerate all legal risks about open a new store, and the risk that may
occur during the construction of the new store such as WHS policies, leasing, insurance,
etc.
5. The new place for the stores could be a risk if this no evaluate by an economic study that
help to find the location.
6. Is easy to people do not realise about the new two stores
Classify project risks

Classify each risk within agreed risk categories
Risk Probability Impact Rating

1 Run out of low
stock Moderate Major
2 No hire moderate major high
appropriate
staff
3 Over bugged moderate moderate medium
4 Legal issues likely extreme medium
5 No correct moderate moderate medium
location
6 New stores likely moderate high
recognition
Potential treatment methods
In order to treat most of the risks of this project is fundamental to take in consideration all the risk
management approaches. Each one of the measures has been developed to solve each one of
the risk.
The treatment method could be hire an external Project Manager how can contribute to developed
an efficient timetable a bugged. From this person all business expansion project team can learn
how to management and plan this type of projects, and might guarantee the success of this
project.
12. Revise your risk management plan.

Use the input from the stakeholders at the Project Team meeting to revise your risk management
plan.
Make sure that risk responsibilities are allocated to project team members
Name this document Revised Risk Management Plan.
13. Complete the Risk Register.
Use the Risk Register Template to guide your work.
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.
 Documenting risk control measures.
 Document actions for each identified risk including:
Risk register for the project Risk Register:
Risk Risk Risk Description Mitigation Strategy/
Impact
Likelihood
Rating
Likelihood
Rating
Impact
No Category including existing Response
# risk controls
Initial Residual
<See the <A description of <Describe the strategy

legend the risk and outline put in place and also
below> any existing risk whether this is
controls in place> mitigation, acceptance,
exploit etc.>
1)Strategic Includes unwanted Yes Low Low Knowing the scope of Low Low Low
negatives features work
2)Operational Completion of work Yes High High Upgrade union in group Low Low Low
positive before due date members
3)Financial Are funds sufficient Yes High High To quote wisely Mini Low Low
negative to deliver project mal
4)Technical Is the project Yes Sev High Do all the activities in High High High
negative involving potential ere consultation with experts
interruptions to of both the sides.
normal operations of
the organisation’s
website?
5)Operational Does the project Yes High High The established safety High High High
safety involve safety risk assessment to be
negative issues- privacy and done.
data?
 Legend for Risk Categories: Negative risks: related to finance lacking, interference
of operations, strategic issues of unnecessary details, etc.
Positive risks: Operational and strategic – early delivery of project
 Risk Rating Scales and Overall Rating:VSome of the negative risks may be rated
as low scale and have lower rating because they do not affect the working of the
website. In this category, unnecessary details on website may be taken.
But some to the risks have severe and negative impact on the working and operations of the
website and its rating is high as well as severe. In this category the fund scarcity, operational
risks and security risks may be included.
LIKELIHOOD SCALE
Very Low 1 Security issues with the data
Low 2 Organizational risk policies are not embedded
properly
Medium 3 Time taken for delivery is more than anticipated
High 4 Website is not build according to the client
requirements
Very High 5 Accessibility of the website is not good.
IMPACT SCALE
Very Low 1 As there is no personal data involved
Low 2 Customers are unable to upload their data
Medium 3 This may lead to raise in budget and time
High 4 Will affect client relationship
Very High 5 Customers are not able to access the website
RISK MATRIX
LIKELIHOOD Very Low Low Medium High Very High
IMPACT
1 2 3 4 5
Very Low 1
Low 2
Medium 3
High 4
Very High 5
Overall Level/Rating:
0 – 1 = Very 2 – 4 = Low 5 – 8 = Medium 9 – 14 = High 15 – 25 = Very
Low High
14. Send an email to the CEO (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 summarise the contents of the attachments.
Attach your revised risk management plan and completed risk register to the email.
Dear CEO,
I hope this finds you well.
We have been working on the establishment of the Risk Management Plan for our expansion to
Sydney and Melbourne. The newest Risk Management Plan and Risk Register created are
attached to this email, stating the risks identified, the evaluation of the risks, risk treatments and
other important information.
Follow-up procedures includes your analysis and requests, followed by your approval so it can be
officially recorded and project team can move to the next step.
Best Regards,
Project Manager
Student’s name:
Completed
successfully
Did the student: Comments
Yes No
Determine risk objectives and standards, with

input from stakeholders?
Establish project risk context to inform risk
management processes?
Identify project risks using valid and reliable risk
identification methods?
Classify project risks within agreed risk
categories?
Determine risk analysis classification criteria and
apply to agreed risk ranking system?
Use risk analysis processes, within delegated
authority, to analyse and qualify risks, threats and
opportunities?
Determine risk priorities in agreement with project
client and other stakeholders?
Document risk analysis outcomes for inclusion in
risk register and risk management plan?
Identify and document existing risk controls?
Consider and determine risk treatment options

using agreed consultative methods
Assessor signature
Assessor name
Date
Assessment Task 3: Risk monitoring an assessment project
Task summary
This assessment task requires you to evaluate a risk control measure that you identified for a risk in
Assessment Task 2, and implement changes in response to this.
This assessment is to be completed in the simulated work environment in the RTO.
Required
 Computer and Microsoft Office
 Access to the internet for research
 Training Survey Results
 Manager Feedback
 Evaluation Report Template
Timing
The assessor will advise you of the due date of this submission.
Submit
 Email to your assessor with your Evaluation report attached.
 Email to your assessor announcing risk control measures implemented.
Assessment criteria
For students’ performance to be deemed satisfactory in this assessment task, they must satisfactorily address
all of the assessment criteria. If part of this task is not satisfactorily completed they will be asked to
complete further assessment to demonstrate competence.
Carefully read the following:
Assume that one of the risks that you identified in your risk management plan was the inability to attract
sufficiently qualified and knowledgeable staff to manage the new retail stores, and that the risk treatment
identified is to invest in the training and development of existing staff to fulfil this role, at least in the short
term.
It was identified that two of the existing customer service representatives are interested in taking on this new
role. Neither of the two customer service representatives have managerial skills nor knowledge, but they
both have excellent company and product knowledge, as well as customer service skills. The company
funded both of the staff members to attend. These staff members are currently managing the two new stores.
A staff survey was sent to the two members of staff who completed the training, and their responses are
collated in the Training Survey Results.
It is now one year later, and the retail stores have now been established in Sydney and Melbourne for five
months. Each store employs a Manager, 2 full-time retail assistants and several part-time and casual staff.
Financially, both stores are performing well, and are already covering their own overheads.
A week ago, both managers were asked to give feedback on how they are coping with their new
responsibilities, and how the training that they received helped prepare them for the tasks that they perform
today. Their responses are collated in the Manager Feedback.
Complete the following activities:
1. Monitor project risk

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.
Review the Training Survey Results and the Manager Feedback, as well as the case study
information above, and from Assessment Task 2.
identify changed circumstances impacting project risks

Determine risk responses to changed environment
Risk monitoring and review processes

The following activities are undertaken to monitor the risk environment to identify the
changed circumstances that have possible impact on the project in hand:
 Examination of risk condition: To check whether the risk was still present or mitigated
and what action required further. The representative from the customers will be
engaged and there would be involvement of various stakeholders for comments and
feedback of present working of website after the changes are incorporated.
 Review of Mitigation Plan: To ensure that needs of the client were meet properly. The
users or interested persons are able to upload their photographs and stories
successfully and without much hassle. Further, there is synchronization of the data
and delicacy is eradicated.
 Validation of risk monitoring plans: It may be possible that previously made plan is
ineffective in some circumstances and new strategies are required to be adopted.
 Setting of timelines: The timelines as well as deadlines was set for managing and
treating the risks. The urgent risks were dealt with priorities.
 Maintaining of records: The proper records were maintained for all the risks. The
records of meetings and interviews were be also maintained.
 Preparation of resources in form of staff/members/volunteers: A consolidated list was
prepared and maintained. These people worked as and when required for mitigating
and avoidance of the potential risks. In return they were encouraged with awards and
rewards.
It was experienced that the review resulted in good for the project team as well for the
customer. The execution team co-operated fully with the project manager and regular
checking or surveillance was done to avoid and mitigating all possible negative risks. The
results were recorded and reported externally as well as internally. The user feedbacks and
comments were taken periodically for further changes and improvements. The controls were
made effective and efficient. Further, improvement of risk assessment was done. The
analysis was done of risk events. The emerging risks were identified and mitigated
accordingly. The path of continuous improvement was made clear. It may be noted that risk
management is ever going process. The risk changes in changing environments. And hence
the continuous monitoring and review is needed. This concept was seriously undertaken and
finally the desired results were obtained
Management approaches: It is submitted that the project performance in terms of risk
management has been successful. The project manager as well as the complete team has
worked day and night to solve all the issues and mitigate and avoid all the negative
categories of risks. It is especially remarkable to say that volunteers of project team
extended a great help to the team so that all the issues were solved within constraints of
time and cost. As the project moved through the implementation as well as the monitoring
phases, the project managers and team had their concrete plans of gauzing the risk
management processes. The attempts were made to avoid all negative risks and the team
was very much successful in this regard. The project stakeholders were always invited to
examine the effectiveness and make their honest comments. Some of the stakeholders,
who were not able to come to the meetings and make direct comments, were contacted
telephonically and via medium of video – conferencing. Due to clear vision, the efforts were
made to minimize the risks of lesser impacts. There was the process of effective delegation,
communication supported with authoritative decisions. It was made clear to all the stake
holders that the risk management is deal with the uncertainties. There was involvement of
human and cultural factors along with the technical, financial and operational aspects. All
the major decisions were taken keeping in mind the benefit of client and engaging all the
stakeholders. The balance of costs and efforts during implementation of the project was
maintained. Due to the reasons stated herein, it may be told clearly that the methods
adopted for risk management were effective.
Potential treatment methods for the future.
Date Description of Recommended Action for Lesson Learnt

problem/opportunity next time/project Raised By
24/01/20 Lack of team membership Strong motivation andTeam members
dedication are recommended needs to be
motivated all the
time.
26/01/20 Legislation not explainedLegislation can be explainedThe follow of
clearly to the teameloquently. legislation is must
members for a successful
project.
27/01/20 Red tapism of the clientAllocation of responsibilities toStakeholders yields
organisation a particular individual is must. best results.
28/01/20 Some risks are notStakeholders need to beInvolve all the
Page 1 of 40
BSBPMG517 Manage project risk Student Assessment Tasks
predicted earlier engaged stakeholders.

05/01/20 Some stakeholders areStakeholders must beStakeholders
reluctant contacted by any means ofinvolvement yields
communication say email,better results.
telephonic conversation etc.
06/02/20 Website development wasRemove unnecessary contentUser response is
too slow and do proper testing andimportant.
bugging.
06/02/20 Time and cost constraints Quotes to be done wisely Adequate time and
funds must be
allotted.
2. Write a Risk Management Evaluation Report

Develop a report for the General 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:
o The risk management treatments.
o The risk management processes and procedures.
 Recommended improvements for application to future projects
Describe the changes you would make to your Risk Management Plan to ensure that the
risk treatment is more effective the next time a new store is opened.
 Identify circumstances that have changed since you wrote your risk
management plan, and how the changes may impact project risks
 Determine risk responses to the changed environment
Use Evaluation Report Template to guide your work.

Your evaluation report should be between half a page and a page long.
Risk Management Evaluation Report
Effectiveness of the risk management treatment

A risk management plan can never be perfect. However, the degree of its success
depends upon risk analysis, management policies, planning and activities. A well-defined
management plan can be successful only if risks are properly accessed. And if not, the
main objective of risk management plan itself is defeated. Critical evaluation of a risk
management plan at every stage is very necessary especially at an early stage. It will
Page 2 of 40 Student ID
allow companies to discover the flaws before it gets into the action. Once you’re through
the process, you can address the issues and then introduce it. We had defined eight risks
related to the expansion plan. It seems like the risk management treatment worked well.
One of the risks was the inability to attract sufficiently qualified and knowledgeable staff to
manage the new retail stores, and that the risk treatment identified was to invest in the
training and development of existing staff to fulfil this role, at least in the short term. To
review the managers feedback, one of them said the training course gave her some
background in administration but not the skills. Also, both managers informed they are
struggling with the numbers, in other words accounting.
The risk management process consists of three parts: risk assessment and analysis, risk
evaluation and risk treatment. Below, we delve further into the three components of risk
management and explain what you can do to simplify the process.
 Risk Identification: Risk identification is an iterative process. As the program
progresses, more information will be gained about the program (e.g., specific
design), and the risk statement will be adjusted to reflect the current understanding.
New risks will be identified as the project progresses through the life cycle.
 Staff Input: Since employees are likely to have information to share, it is helpful to
have an agenda prepared to keep some structure and order to the meeting. It is
easy to get off track when employees are offering up information that may be
somewhat off-track from the prepared agenda. Agendas also serves as handy
record keeping as a supervisor can go back and look at old agendas to determine if
certain topics have been covered.
 Risk Identification Confidence: The identification of risks in a company like

NatureCare Skin Care Products brand is very challenging, as there are numerous
ways to identify risks but evaluating them makes it tougher.
Risk Management Policy and Procedures:

This policy and procedure on the use of risk management is required to enable
NatureCare Products to comply with legislation and regulations relevant to marketing
practices, as well as standards and codes such as Advertising Standards Bureau (ASB)
codes of conduct. This policy applies to all employees and external providers involved in
the promotion of NatureCare products and services.
Definitions
Risk Management Process refers to all materials printed or published relating to
NatureCare.
Policy
All the methods and techniques to identify risks in risk management conducted by
NatureCare products will be accurate and ethical. Detailed written procedures regarding
risk management policies are available to all staff at NatureCare premises and are
included in employee induction packs.
AS/NZS ISO31000:2009 Principles and Guidelines

In November 2009, AS/NZS ISO 31000: 2009 replaced the previous Australian and New
Zealand risk management standard AS/NZS 4360: 2004. AS/NZS ISO 31000:2009 (the
Standard) provides Fund Member agencies for NatureCare Skin Care Products with
principles and general guidelines to be considered when developing
risk management frameworks and programs.
 Creates and Protects the value for the products of NatureCare Skin Care
 Be an integral part of organizations processes
 Be a part of decision making
 Explicitly address uncertainty
 Be structured, systemic and timely
Changes to Risk Management Process

The good news is that risk management is not rocket science. Through my extensive work
with change initiatives, I’ve identified six key steps to effective risk management. By
following these steps on your initiative, I hope you’ll discover how embracing risk can lead
to success.
1. At the start, identify the risk you face
2. Quantify the risks
3. Establish a risk threshold
4. Create contingency plans
5. Monitor Risks over time.
Effectiveness of the risk management processes and procedures

We had determined the risks and treatments related to the expansion plan. Now both
stores are performing well, and are already covering their own overheads. To review the
project outcomes it seems our risk management plan worked well.
Changed circumstances that may impact project risks

When I was reviewing training survey results, it seemed both staffs were satisfied with the
training. After one year, both managers said the job was really exciting and they enjoyed
opening the store at the beginning in the feedback. However, they both informed that they
are so tired and working on every day that they could not able to maintain a healthy
work/life balance. So that, there is now new risk that the managers may leave their jobs.
Determine risk responses to changed environment
One of the managers said he/she is interested in learning more about training staff. Also,
other manager said he/she needs more accounting or bookkeeping training would be
practical or hiring someone to do the work for her/him so that he/she can manage the
shop.
In order to reduce the risk of the store managers leaving their jobs, we can do a number of
things. Firstly, train them with some accounting and training staff skills. So that they can
manage the store with less stress. Secondly, we can hire more people for them. Finally,
we can give them incentives and subsidy, such as more wage.
Recommended improvements for application to future projects
To ensure that the risk treatment is more effective the next time a new store is opened, I
would add the possible risk can be new managers get stressed with their job. Then the
treatment would be hiring more people and training the managers well. Also, we need to
choose effective risk identification methods.
3. Send an email to the CEO (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 summarise the contents of the attachment, and seek their
feedback and approval to move forward with the project.
Attach your evaluation report to the email.
Dear CEO,
As predicted in the Risk Management Plan, we have conducted a review of the

plan to check its performance according to the measures of quality and effectiveness we
have considered expected for Risk Management Practices.
The analysis has considered all the documentation generated from the Risk
Management Practices and also feedback from project team members who had to work
through the Risk Management Plan in some way.
Attached to this email you will final a detailed Risk Management Evaluation Report
with the statements and analysis of our findings. Should you have any question, please
contact me.
Best Regards,
Project Manager
1. Send an email to the store managers (your assessor).

Assume that the General Manager has given approval for you to implement two of the
risk responses that you listed in your evaluation report.
Choose the responses that you feel would be most beneficial to the managers, and write
them a short email to inform them of this.
The text of the email should be in grammatically correct English, written in an

appropriate (polite, business-like) style.
Dear General Manager,
We have recently received and evaluated the feedbacks from your 2 newest
Managers. The evaluation has considered their points of view, mentioned requirements
and also the internal organizational objectives.
In order to keep a continuous improvement activity, the findings were presented
and discussed with the CEO in a meeting hold on the 6 th of January in order to establish
alternatives that could improve the results and experiences of your new management
team. The decisions made at the meeting includes:
Creation of a Training Program to New Workers, which will be used to induct new workers
to organizational story, culture, legal requirements and other important information. The
Program will also approach the first steps for staffs in their departments. Organizational
Induction will be applied in group meetings with all new workers by a HR Staff, while the
departmental training must be applied by the managers of each department. The training
procedure will include a checklist of what needs to be informed to workers in order to
facilitate manager’s approach.
Accountant and Administrator added to the team: HR Department will be opening in the
next month a Recruitment Process to hire 2 new staffs for each position, so they can
cover the stores in Sydney and Melbourne. We expect that with their addition to the team,
managers are less overloaded with the daily activities and becomes able to focus on the
management duties and responsibilities only.
The implementation of these two actions will be formalized and documented on the
next business day and you will be informed on the follow-up activities via email. A meeting
is also to be hold in a couple days.
Best Regards,
Project Manager
Student’s name:
Completed
successfully
Comments
Did the student: Yes No
Monitor the risk environment to identify changed

circumstances that are impacting on project risks?
Determine risk responses to changed
environment?
Suggest modifications to their risk management
plan to maintain currency of risk treatments and
controls?
Review project outcomes to determine
effectiveness of risk-management processes and
procedures?
Identify and document risk management issues
and recommended improvements for application
Student’s name:
Completed
successfully
Comments
Did the student: Yes No
to future projects?
Implement agreed risk responses?
Assessor signature
Assessor name
Date
Appendix
Evaluation Report Template Manager Feedback
Microsoft Word Manager

Document Feedback.docx
Risk Management Plan Template Risk Management Policy and Procedures
Risk Management Risk Management

Plan Template.docx Policy and Procedures .docx
Risk Register Template Training Survey Results
Risk Register Training Survey

Template.docx Results.docx

JOJO Assessment BSBPMG517 1

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Student Assessment Task

Student Full Name:

Address: Level 5, 338 Pitt Street, Sydney, NSW 2000, Australia

Assessment Task Overview

Each assessment task in this booklet consists of the following:

Assessment Task Cover Sheet

Depending on the task, this may include

Assessment Task Information

Assessment Task Instructions

Provide answers to all of the questions below:

-Monitoring workforce data that is relevant to business delivery

c. Response Plans –before completing a risk register, a response plan should be

7. Outline the key steps involved in a risk management process.

8. Explain five options for controlling risk.

1. Accept The Risk

2. Avoid The Risk

3. Transfer The Risk

4. Mitigate The Risk

5. Exploit The Risk

Did the student provide a sufficient Satisfactory

Task Outcome: Satisfactory  Not Satisfactory 

This assessment is to be completed in the simulated work environment in the RTO.

Carefully read the following:

The company currently has a small range of products that include:

1. Identify project risk

Take project risk notes that include the following:

Project risk context

Existing risk controls

 Market research into target customer needs.

 Quality testing of components

 Regular servicing of technology/equipment

 Minimize threats and enhance opportunities.

 Any change or annotation must be documented and signed.

Risk identification methods

 Lessons learned from previous projects.

 Previous risk register.

Industry sector risk classifications

Risks can then be classified as:

Some of the risk that can happen in NatureCare

Risk categorisation process

Risk 1 run out of stock Organisational brand - CO

Risk analysis classification criteria

9. Send an email to the General Manager (your assessor).

Attach your project risk notes to the email.

Dear General Manager,

The team member is assigned as following:

Your risk management plan should include, as a minimum:

Risk Management approaches

Risk 2 Hire appropriate staff As a recommendation is necessary to hire a recruitment company

Risk monitoring and review processes

Classify project risks

Risk Probability Impact Rating

Potential treatment methods

12. Revise your risk management plan.

Risk register for the project Risk Register:

Risk Risk Risk Description Mitigation Strategy/

<See the <A description of <Describe the strategy

It should introduce and summarise the contents of the attachments.

I hope this finds you well.

Determine risk objectives and standards, with

Consider and determine risk treatment options

This assessment is to be completed in the simulated work environment in the RTO.

Carefully read the following: