Faculty of Engineering and IT

Risk Management in Engineering (49006)

Assessment Task 2 - Risk Management Plan

Specification:
Weight 30%
Type • Group, maximum 6 students in a group
Length • 5500-6000 words including appendices and references
Submission • Online through the Turnitin submission link on Canvas
• Multiple attempts permitted until the due date
• A completed and signed copy of the FEIT assignment submission
cover sheet is required to be submitted at the start of your document as
part of your submission. The cover sheet must be signed by all members of the
group.
Similarity • There is no numerical threshold to show a student has plagiarized or
not. The human academic checks for plagiarism. Turnitin can only
indicate where and when a text appears similar to another text
• 20% self-similarity to assessment 1 is acceptable
Due date Refer to the Subject Outline

Objectives:
▪ Incorporate the values of culture and history of Indigenous communities in risk analysis studies
and the development of risk management plans
▪ Identify stakeholders, boundaries and uncertainties in engineering projects and systems
▪ Assess, evaluate, prioritise, and treat risks in engineering projects and systems lifecycle
▪ Develop risk management plans for engineering projects and systems in accordance with
appropriate risk management standards

Introduction:
A Risk Management Plan (RMP) is developed to ensure levels of risk and uncertainty are properly
managed within organizations. It is usually developed for a period of time (often one year) for a specific
activity, product, process and project, and part or whole of the organizations. It enables those involved
with the project or system to manage possible risks by defining the manner in which they will be
contained and the likely cost of mitigation strategies. The RMP is developed to:
• Provide a useful tool for managing and reducing the risks identified before and during the project,
activity, or organization;
• Document risk mitigation strategies being pursued in response to the identified risks and their
grading in terms of likelihood and seriousness;
• Provide stockholders a documented framework from which risk status can be reported upon;
• Ensure the communication of risk management issues to key stakeholders;

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 Faculty of Engineering and IT
Risk Management in Engineering (49006)

Assessment Task 2 - Risk Management Plan

Instructions:
1. Select one of the case studies from assessment 1 amongst your group, put aside the failure/accident,
and prepare a RMP in accordance with the standard.
2. Study AS ISO 31000:2018 carefully to understand the RMP structure [1]:
• Scope: As the risk management can be applied at different levels (e.g., strategic,
operations, etc), it is important to be clear about the scope under consideration, the
relevant objectives, andtheir alignment with organizational objectivise.
• Context: The context of the risk management process should be established from the
understanding of the external and internal environment in which the organization operates.
Stakeholders are identified, roles and responsibilities are determined, data and information
flows are examined, etc.
• Risk criteria: The organization should specify the amount and type of risk that it may or
may not take relative to objectives. It should also define criteria to evaluate the significance
of risk and to support decision making.
• Communication and consultation: The purpose of communication and consultation is to
assist relevant stakeholders in understanding risk, the basis on which decisions are made
and the reasons why particular actions are required. Communication promotes awareness
and consultation obtains feedback.
• Risk assessment (risk identification, risk analysis, risk evaluation): Identify risk events
withpotential major negative impact on selected objectives systematically, iteratively, and
collaboratively, drawing on the knowledge and views of stakeholders.
• Risk treatment: Select and implement options for addressing risk. It requires planning,
implementing, assessing the effectiveness of treatments, taking further treatment if not
acceptable.
• Monitoring and review: The purpose of monitoring and review is to assure and improve
thequality and effectiveness of process design, implementation, and outcomes. Monitoring
andreview should take place in all stages of the process and includes planning, gathering,
andanalysing information, recording results and providing feedback.
• Recording and reporting: The risk management process and its outcomes should be
documented and reported through appropriate mechanisms. It would communicate the
outcomes across the organization and assist interaction with stakeholders.

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 Faculty of Engineering and IT
Risk Management in Engineering (49006)

Assessment Task 2 - Risk Management Plan

3. Define the scope, boundaries, and objectives carefully; you may need to simplify and define the
boundaries of your report (for example “looking only at WHS risks”) in order to achieve the word
limit.
4. Define risk criteria using ALARP or any other risk criteria principles and clearly state the risk
tolerability criteria employed.
5. Assess risks using FMECA and propose applicable risk treatment options.
6. Consider aspects beyond the texts and lecture materials i.e. value-added discussion.
7. Reference correctly aligned with the IEEE style. IEEE style referencing is explained on Canvas
Module 6.

Marking Criteria:
This also forms the structure of your assignment document
Section Criteria Weight

Executive summary Capture the essence of findings 5

Introduction Define scope, boundaries, and objectives clearly 5

Identify all relevant stakeholders and constraints 5

Establishing the Define rules, roles and responsibilities, etc 5
context
Explain processes and tools 5
Define risk criteria and provide a quantified Tolerability of Risk (ToR)
Risk criteria 10
table
Communication and
Provide consultation and communication strategies 10
consultation
Risk assessment Use FMECA technique to identify, quantify and mitigate sources of risk 10

Risk treatment Determine applicable and practical risk treatment options 10

Monitoring and
Discuss the monitoring and treatment processes 10
review
Discussion Discuss the findings and discussion goes beyond lecture materials 10
Reporting and
Describe the reporting and recording mechanisms 5
recording
Structure the report appropriately with good English language writing 5
Presentation
Reference correctly using IEEE style 5

Sum 100

Reference:
[1] AS ISO 31000:2018, risk management guidelines

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