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Written work

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Address each question including any sub-points
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Presenting any work by another individual as one’s own unintentionally
Handing in assessments markedly similar to or copied from another learner
Presenting the work of another individual or group as their own work
Handing in assessments without the adequate acknowledgement of sources used, including assessments taken totally or in part from the internet.

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Assessment can be:

Direct observation
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Portfolios – annotated and validated

The assessment activities in this workbook assess aspects of all the elements, performance criteria, skills and knowledge and performance requirements of the unit of competency.

To demonstrate competence in this unit, you must undertake all activities in this workbook and have them deemed satisfactory by the assessor. Once you have demonstrated the required level of performance, you will be deemed competent in this unit.

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Candidate Details

Assessment – BSBPMG632 – Manage program risk

Please complete the following activities and hand in to your trainer/assessor for marking. This forms part of your assessment for BSBPMG632 – Manage program risk

Name: _____________________________________________________________

Learner ID: ______________________________________________________________

Email: _____________________________________________________________

Declaration

I declare that no part of this assessment has been copied from another person’s work with the exception of where I have listed or referenced documents or work and that no part of this assessment has been written for me by another person. I also understand the assessment instructions and requirements and consent to being assessed.

Signed: ____________________________________________________________

Date: ____________________________________________________________

If activities have been completed as part of a small group or in pairs, details of the learners involved should be provided below:

This activity workbook has been completed by the following persons and we acknowledge that it was a fair team effort where everyone contributed equally to the work completed. We declare that no part of this assessment has been copied from another person’s work with the exception of where we have listed or referenced documents or work and that no part of this assessment has been written for us by another person.

Learner 1: ____________________________________________________________

Signed: ____________________________________________________________

Learner 2: ____________________________________________________________

Signed: ____________________________________________________________

Learner 3: ____________________________________________________________

Signed: ____________________________________________________________

Learner Workbook Activity

Activity 1A

Performance Criteria

P.C. 1.1	Identify potential, actual and residual risks
P.C. 1.2	Select and modify program risk methodology to match the context for risk
P.C. 1.3	Consult with relevant stakeholders and identify, document and analyse program level risks

Instruction:

Work in a small group of 3-4 people or as instructed by the trainer

One person pretends as Kate and others are relevant stakeholders
Make sure that your group members and you use both active and passive listening to explain clearly to each other, use listening and questioning techniques to confirm or show understanding of different perspectives, use appropriate body language where is required, and collaborate to reach a joint understanding and outcomes.
Summarise in your word

Scenario:

Kate is the CEO of the Joker clothing company. The company has been established for 2 years and currently owed 10 stores in Australia. As planned previously, this year the store will be expanded for 5 more stores. Kate recently held a meeting with relevant stakeholders and identified the possibility of expanding the company. However, some stakeholders claimed that we have to carefully plan and decide as this time is quite unstable due to the COVID-19 pandemic. Her team also claim that will involve increasing the range of clothing and using different marketing channels to increase the reach to potential customers.

Question 1

Provide three (3) examples of risk management methods/techniques/tools which Kate might successfully select and implement.

There is three method that is successfully select and implemented are:

1) Prevent damage and reduction- This method is very effective to reduce the loss of the organization, it prevents loss and breaks its continuity of spreading. This method is applied by many firms to reduce the cruelty of losses.

2) Avoidance- The avoidance method is hazardous; this activity has affected the company and its assets in a negative way. It helps while the project plan is adjusted because the project has no lengthier induction a risk event.

3) Retention- This method is helpful for everyone who is in the company because this method requires a wary plan and decision-making.

Question 2

Discuss the following elements based on a provided scenario:

Provide five (5) examples of risk identification methods.
Provide five (5) examples or risks that may be identified during the process of project risk-management planning.
When developing a risk register, what details you would need to consider and include.

Answer

a) Here the risk identification method gives below:

1) SWOT Analysis

2) Techniques used of NGT

3) Stakeholder interviews

4) Project Plans

5) Brainstorming

B) There is some risk which is identify early while you do plan for project. That risk is given below:

1) Operational risk

2) Legal risk

3) Cost risk

4) Market risk

5) Government risk

C) While making a register, some important point is included in it, the points are:

1) Risk categories which is internal and external both.

2) Fleeting description of the risk

3) Identification number

4) From where risk is occurred

Activity 1B

Performance Criteria

P.C. 1.4

Support and mentor project managers in the analysis, evaluation and treatment of risks

Scenario:

Sam is the manager of the Trex cycling company. He recently held a meeting with a number of company stakeholders and identified the possibility of acquiring a line of Caltec mountain bikes for sale in the Trex cycling shops. He is aware that there are a number of risks associated with the acquisition which will need to be addressed in collaboration with the project managers.

Question 1

Identify three (3) steps that Sam might take as part of the risk analysis process.

Answer

Sam wants to know that how much risk is involved in Sam’s plan so that he uses risk analysis process which is taken by him is:(Koulinas, 2019)

1) First step is Identify the ambiguity or risk- Main goal of Risk analysis is to identify the sources of ambiguity. Uncertainty means when decision maker is not aware from the company probabilities.

2) Second step is Assess the risk- This step is for comparing the actual risk and pre-determined risk, after company assessing the risk take decision to solve them.

3) Third step is managing the risk- After assessing the risk this is the next step to manage the risk. this process is for finding, Monitoring risk, it also reduces the undesirable impact on the company.(Koulinas, 2019)

Question 2

Simply develop the process of evaluating program risks that Sam might follow.

Sam might follow the process of evaluating program risk so that this process helps him to regulate the consequence of risk.

Question 3

Identify and provide details of four (4) risk treatment options which Sam might consider.

Risk treatments are which same might consider are:

Risk treatment is basically for framework of risk, classifying risk, examining, assessing, treating the risk, observe the risk and liaise risk. its main objective is minimize risk and lossess and increase opportunity. Risk management has types that is:

1) Acceptance- This treatment option mean accepts the risk, after that when you recognize the loss from risk don’t avoid it.

2) Sharing – Sharing has another word that is “distribution” it refers that all employee and member of company contributing in insurance benefits.

3) Residual risk- Residual risk reflect that risk leftward over or not.

4) Transfer-This is for when individual faced adverse outcome and entity is transfer to other party.

Activity 1C

Performance Criteria

P.C. 1.5

Confirm risk management is transparent and dynamic across the program so that risks are assigned and managed in a timely manner

Question 1

Specify five (5) reasons for implementing communication and consultation processes.

Answer

As everyone know communication and consultation is very important for organization, for their employees at work place. It creates healthier understanding between two people. This process is for leading the employee with effective way and take better decision and find solution of the problems by contributing all members by communicate with each other.

Reasons for implementing communication and consultant process are given below:

1) Communication maintains relationships

2) Create an operative unit

3) Rise employee appointment

4) Ease innovation

5) Main reason is it subsidize in company growth

Question 2

Specify three (3) tasks that should be undertaken by the risk management team.

Task that should be undertaking by risk management team are:

1) Pre planning of project- This task is very important because of that how could we know about what should we do, what’s plan an all. This process is for identifies that how we complete the project with needed resources.

2) Alert project management- This task is for alignment of the project goals by planned vision of the company. This process is handled by project manager, and use high level of management in aligning goals.

3) Project scheduling- This involved project started time, date, due date of project submission, basically for listing all actions of the projects.

Activity 1D

Performance Criteria

P.C. 1.6

Develop and maintain a program risk-management system for effective management and communication of risks, controls, treatments and outcomes to stakeholders across the program

Question 1

Give five (5) examples of policies/procedures/programs which may be implemented for the effective control of risk.

Policies are:

1) Keep precautions, which means conducted security training, inspection and conducted session.

2) Monitoring that when last time these services perform.

3) Broadcast and hiring employees.

4) Redesigned Business models.

5) Provide welfare facilities

These policies should follow for controlling risk at work place.

Question 2

Identify five methods which may be used for communication with stakeholders.

Methods used while we communicate with stakeholders are:

1) Conduct presentation by online- This method is used when you want to communicate with stakeholder, provide information by online so that there is no issue for place.

2) Screen meeting – Do video call meeting for communicating with stakeholder. exchange information with them by video call.

3) By email- This means e- mail, which involved short information and send them in very short time.

4) Email mechanization- It means marketing with email automation in this process person send email for stack holders to communicate them at the right time.

5) By report which is in summary format- this summary format delivers overview of the objective of the organization.

Activity 2A

Performance Criteria

P.C. 2.1

Direct management of the program in accordance with agreed program risk-management plans

Question 1

Identify five (5) responsibilities that you are expected to fulfil in relation to risk management.

Answer

1) First responsibility is to analysis the risk, which risk factors affect our organization.

2) Second responsibility is to consider risks significances of each risk and also evaluate risks gravity.

3) Next is Audit your risk processes and policies.

4) Fourth responsibility is after evaluate and identify risk or reduce this risk develop risk control management for that.

5) For manage risk its responsibility to create possibility plan for solving the risk problems of organization.

Question 2

Specify five (5) duties that team members may be expected to perform as part of risk management.

Answer

Duties of team members in relation to risk management are given below:

1) To help other employees when needed

2) Find risk and places from where this risk is occurs.

3) Then assessing those risk its duty of team member and their risk manager.

4) Resounding out activity which relate to risk management.

5) Important duty is to closing down which is already passed or solve.

Activity 2B

Performance Criteria

P.C. 2.2

Review progress, analyse variance and initiate risk responses to achieve program objectives in dynamic risk environments

Question 1

Specify three (3) processes that the risk management framework should enable in relation to the management of risk.

Three process of Risk management is mentioned below:

1) Risk identification- Very first process is to identify the risk at work place, in organization. so, we know about what risk is harm our organization.(Zaiceanu, 2015)

2) Analyse risk- This process is for identify potential risk issue.

3) Risk treatment- This process has sub process that is:

1) Evaluate risk treatment.

2) Options for planning

3) Finding remaining risk.

Question 2

Specify three (3) instances in which recommended responses to variations may be made.

Instances are given below:

1) Risk identification- This is very first process and very important without identification we don’t know the risk and effected area. This is important because they develop plans for less the risk, which is harmful for company. As an example- Technologies breaches, claims.(Zaiceanu, 2015)

2) Analysis risk- Analysis risk is very important because it is helpful to finding factors which is harmful or effect our organization with negative in nature.

3) Risk treatment- It is the process of risk management because that provides the necessary tools and techniques which help us in dealing with risk.

Question 3

Describe the ways in which the following risk responses may be implemented

Avoidance

This risk is removal of hazards, which result negatively, affects a company and their assets. It avoided the risk and focused on compromising with the situation.

Transfer

This is risk control strategy which is included in or transfer risk from one person to another person.

Mitigation

This process is used to reduce risk and prepare plan for diminish the effects of fears met by every business.

Acceptance- when risk manager and individual or business recognizes the loss and its risk factor.

Activity 2C

Performance Criteria

P.C. 2.3

Confirm risks are monitored and assessed across the program at agreed intervals

Scenario

Jane is the manager of the Virage hair and beauty company. They specialise in the development of various hair and beauty products for sale in retail stores. She has recently begun a program focussing on the differentiation of the Virage products and services from those of the competition. This has involved writing project descriptions emphasising the superior quality of the Virage products and delivering outstanding service to the retail stores. Gwen has been happy with the success of the program so far. However, she is aware that there are some risks associated with the product differentiation program.

Question 1

Identify and describe five (5) methods which Jane might use for the purpose of monitoring program risks.

Methods of monitoring program risk-(Geissert,et al.,2018)

1) Identify current risk

2) Create a plan for risk

3) Feedback from the consumer and from employees

4) Evaluate new possibilities inside the organization

5) Finding out the quality of the products as per the requirement of the consumer.(Geissert, et al.,2018)

Activity 2D

Performance Criteria

P.C. 2.4

Direct response to actuated program risk and confirm remedial actions are authorised with impact analysis according to program objectives

Question 1

Identify three (3) worker responsibilities associated with the direction of response to actuated program risk.

Worker’s responsibilities are: (Burbano, 2016)

1) Be aware from the risk and consult it with their risk manager and their co-worker.

2) Always attended the assessment related to risk management.

3) Account changes at the workplace.(Burbano, 2016)

Question 2

Give three examples of remedial actions that may be authorised with impact analysis for the achievement of program objectives.

Example of remedial action of impact analysis are:

1) Generating of good quality of product for the consumer

2) Providing proper training to employees

3) Conducting survey and as per survey policies is applied inside the organization.

Activity 3A

Performance Criteria

P.C. 3.1

Identify and document program residual risk and communicate to stakeholders any transferred liability at program completion

Scenario:

Peter is the manager of the Billatong bar and grill. He recently began a program for the purpose of increasing the popularity and encouraging customers to spend more. This has involved adding more meals to the menu, introducing special drinks offers, and providing existing customers with rewards for loyalty. Peter has been generally satisfied with the level of success achieved through the adoption of these strategies. However, some customer complaints have been made about the new meals, and the introduction of drinks offers has had a negative financial effect. Peter has used different controls for the purpose of addressing these negative aspects. However, there is still some risk associated with the program for the bar and grill.

Question 1

What is residual risk and how does it relate to the program which Peter has implemented for the Billatong bar and grill?

Residual risk refers to reducing the risk of the organization.

1) It is helpful for identifying the risk

2) Finding the asset and weaknesses of companies.

3) Recognize the current risk

This residual risk is helpful for peter for his Billatong bar and grill after identifying the risk, they should plan for this risk. they need to evaluate their current resources and techniques and find what controls they have to put in the risk place.

Question 2

Identify five (5) types of stakeholders who Peter might be expected to alert to the residual risk.

Stockholders name

1) CFO of the company

2) Managers of the organization

3) Support staff of the organization

4) Navigation committee

5) End users

Activity 3B

Performance Criteria

P.C. 3.2

Review and analyse program outcomes to assess the effectiveness of the risk-management methodology

Question 1

Identify five (5) types of risk records that may be referred to for the purpose of determining the effectiveness of the risk management methodology.

Risk records that help to determine the effectiveness of the risk management technologies are:(Pikoula, et al., 2019)

1) Legal records of the company

2) Fiscal records

3) Historical records of the company

4) Automated records

5) Research records (Pikoula, et al., 2019)

Question 2

Specify three (3) questions that may be asked in relation to effectiveness of the risk-management methodology.

The questions are:

1) What question is on high risk, how could we survive or solve that risk in appropriate time?

2) What are the organization current performance and previous performance, which is reduce by risk.

3) Who take the risk responsibility to solve it, who is responsible for the outcome and who report the risk to their manager of risk.

Question 3

Specify five (5) aspects that may be considered in relation to outcomes of risk-management methodology implementation.

1) Identify the risk

2) Analyse risk

3) Create planning to solve the risk

4) Extenuation

5) Monitoring the risk

Question 4

Specify four (4) considerations in relation to the outcomes of implementing risk management methodologies.

Consideration of risk management technology while implementing them are:

1) Contractual risk or company

2) IT risks of the company

3) Corporeal safety risk

4) Financial risk of organization

Activity 3C

Performance Criteria

P.C. 3.3	Seek feedback and respond to relevant stakeholders on risk management
P.C. 3.4	Analyse, document and recommend lessons learned for application in other programs

Instruction:

Work in a small group of 3-4 people or as instructed by the trainer

One person pretends as Kate and others are relevant stakeholders
Make sure that your group members and you use both active and passive listening to explain clearly to each other, use listening and questioning techniques to confirm or show understanding of different perspectives, use appropriate body language where is required, and collaborate to reach a joint understanding and outcomes.
Summarise in your word

Question 1

Discuss and seek opinion from your group then identify three (3) aspects that will be necessary in order to perform effective analysis of program risk.

Important aspects which are necessary for an organization to analyze the risk are:

1) Risk analysis, ensure about the risk that what threats are in the organization.

2) Analysis ensures their negative or positive impact on the organization.

3) Threats should appear.

Question 2

Specify four (4) issues that may be identified when performing analysis of the risk management program.

1) Mismeasurement of recognized risk

2) Face letdown to take recognized risk into version

3) Face disappointment in managing the risk management

4) Fail in risk system of measurement.

Question 3

Identify four (4) improvements that could be made for the purpose of reducing program risk.

1) Appreciate organization policies

2) Authorize your workforce

3) Instruct yourself

4) authorize risk management

Activity Checklist – for assessor

This should be used by the trainer/assessor to document the learner’s skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.

Checklist				Knowledge Evidence (KE),
Did the learner correctly provide three (3) examples of risk management methods/techniques/tools which Kate might successfully select and implement.?		Yes No (Please circle)		PC 1.1-1.3
Did the learner correctly discuss the following elements based on a provided scenario: – Provide five (5) examples of risk identification methods. – Provide five (5) examples or risks that may be identified during the process of project risk-management planning. – When developing a risk register, what details you would need to consider and include.?		Yes No (Please circle)
Did the learner correctly identify three steps that Sam might take as part of the risk analysis process?		Yes No (Please circle)		PC. 1.4
Did the learner correctly simply develop the process of evaluating program risks which Sam might follow?		Yes No (Please circle)
Did the learner correctly Identify and provide details of four (4) risk treatment options which Sam might consider?		Yes No (Please circle)
Did the learner correctly specify five (5) reasons for implementing communication and consultation processes?		Yes No (Please circle)		PC. 1.5
Did the learner correctly specify three (3) tasks that should be undertaken by the risk management team?		Yes No (Please circle)
Did the learner correctly give five (5) examples of policies/procedures/programs which may be implemented for the effective control of risk.		Yes No (Please circle)		PC. 1.6
Did the learner correctly identify five methods which may be used for communication with stakeholders?		Yes No (Please circle)
Did the learner correctly Identify five (5) responsibilities that you are expected to fulfil in relation to risk management?		Yes No (Please circle)		PC. 2.1
Did the learner correctly Specify five (5) duties that team members may be expected to perform as part of risk management?		Yes No (Please circle)
Did the learner correctly Specify three (3) processes that the risk management framework should enable in relation to the management of risk?		Yes No (Please circle)		PC. 2.2
Did the learner correctly Specify three (3) instances in which recommended responses to variations may be made?		Yes No (Please circle)
Did the learner correctly Describe the ways in which the following risk responses may be implemented?		Yes No (Please circle)
Did the learner correctly Identify and describe five (5) methods which Jane might use for the purpose of monitoring program risks.?		Yes No (Please circle)		PC. 2.3
Did the learner correctly Identify three (3) worker responsibilities associated with the direction of response to actuated program risk.?		Yes No (Please circle)		PC. 2.4
Did the learner correctly Give three examples of remedial actions that may be authorised with impact analysis for the achievement of program objectives?		Yes No (Please circle)
Did the learner correctly analyse what is residual risk and how does it relate to the program which Peter has implemented for the Billatong bar and grill?		Yes No (Please circle)		PC. 3.1
Did the learner correctly Identify five (5) types of stakeholders who Peter might be expected to alert to the residual risk?		Yes No (Please circle)
Did the learner correctly Identify five (5) types of risk records that may be referred to for the purpose of determining the effectiveness of the risk management methodology?		Yes No (Please circle)		PC. 3.2
Did the learner correctly Specify three (3) questions that may be asked in relation to effectiveness of the risk-management methodology?		Yes No (Please circle)
Did the learner correctly Specify five (5) aspects that may be considered in relation to outcomes of risk-management methodology implementation?		Yes No (Please circle)
Did the learner correctly Specify four (4) considerations in relation to the outcomes of implementing risk management methodologies?		Yes No (Please circle)
Did the learner correctly Discuss and seek opinion from your group then identify three (3) aspects that will be necessary in order to perform an effective analysis of program risk?		Yes No (Please circle)		PC. 3.3-3.4
Did the learner correctly Specify four (4) issues that may be identified when performing analysis of the risk management program?		Yes No (Please circle)
Did the learner correctly Identify four (4) improvements that could be made for the purpose of reducing program risk?		Yes No (Please circle)
Comments

The learner’s performance was:	Not yet satisfactory		Satisfactory

Knowledge Activity

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
KE 1.0	the use of risk management tools, frameworks, systems, methodologies and standards
KE. 2.0	the use of a dynamic risk register across a program.

Give descriptions of these tools and techniques for risk identification:

The Delphi technique

this technique is held with experts and it is collection communication method. This techniques is used for assessing and forecasting.(Pandey, & Pandey, (2021)

Root cause analysis

Root causes analysis is refer to identifying the root problems and their causes and also identifying the way to solve them.

Benchmarking

Benchmarking is the process by which we quantity the products and services which is against the company.(Pandey, & Pandey, (2021)

Give descriptions of the following methods and how they may be used in the process of risk management:

Brainstorming

Brainstorming is a solution technique for the problem and has lots of ideas for all group members. It is very helpful in risk management because it provides methods and these approaches inspire project team members.(Hubbard,2020)

Ranking risks

This risk goal is to assess the daily activity risk and identify their level of low, high, and medium and these approaches help to collapse the all risks hooked on risk mechanisms and assess them.

Creating mitigation strategies.

This strategy is conducted to lessen the effect of the intimidation which is faced by the organization.(Hubbard,2020)

The best mitigation strategy work step by step, First, identify the risk and then create a planned strategy for solving them.

Identify three aspects that the risk management framework should enable in relation to risks.

Answer

Three aspects of risk framework.(World Health Organization ,2019)

1) Risk Measurment

2) Mitigation strategy

3) Risk journalism (World Health Organization ,2019)

Give five examples of policies/procedures/programs that may be included within the risk management system.

Answer

Programs are included in risk management system which achieve risk and breaks.

1) Identify the risk

2) Next is asses the risk

3) Handle risk

4) Risk scrutiny

5) Last is risk conclusion(Leveson,2015)

Identify three types of outcomes that should be included when updating the risk register.

1) Possibility- Identify what is the sources of risk.

2) Impact – After ucknowleleage, the risk source finds at a place that has a serious impact.

3) Rating – with your perspectiveon where this risk is stand.

4) Approaches- identify risk and monitor them, avoid it.

Specify four details that should be included within a risk register.

Answer

Four main details which included in the risk register are given below:(Liu, et al.,2021)

1) Define and note the category of risk. in easy language risk has low, medium or high in category.

2) Proper description of risk

3) Documentation of risk

4) Who take the priorities of risk.(Liu, et al.,2021)

Knowledge Evidence Activity Checklist – for assessor

Checklist				Knowledge Evidence (KE),
Did the learner correctly give descriptions of these tools and techniques for risk identification?		Yes No (Please circle)		KE 1-2
Did the learner correctly give descriptions of the following methods and how they may be used in the process of risk management?		Yes No (Please circle)
Did the learner correctly identify three aspects that the risk management framework should enable in relation to risks?		Yes No (Please circle)
Did the learner correctly give five examples of policies/procedures/programs that may be included within the risk management system?		Yes No (Please circle)
Did the learner correctly identify three types of outcomes that should be included when updating the risk register?		Yes No (Please circle)
Did the learner correctly specify four details that should be included within a risk register?		Yes No (Please circle)
Comments

The learner’s performance was:	Not yet satisfactory		Satisfactory

Performance Evidence Activity

Performance Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
PE 1.0	direct the planning of program risk management
PE. 2.0	manage program risk,
PE. 3.0	assess project and program risk-management outcomes
PE. 4.0	respond to risk within complex programs that are subject to unpredictable contextual pressures.

Direct the planning of risk management for a program specific to your prefered organisation.

Perform the following activities as part of the planning process:

Assess and select appropriate methods according to the risk context

1) Risk Avoidance

2) Risk reduction

3) Shifted the risk

4) Prevent loss

Direct the identification, documentation, and analysis of risk as the basis for planning

Identification of risk techniques:(Vishambar, et al., 2016)

1) By checklist

2) By suggesting

3) By Assume analysis

Documentation necessity of risk are:

1) Risk register

2) Risk importantly

Analysis risk by:

1) Delphi technique of risk

2) Decision tree analysis(Vishambar, et al., 2016)

Direct, support, and mentor project managers in the analysis, evaluation and treatment of risks

Some important step that is taken by the project manager during the evaluation of risk are:

1) Citations the risk

2) Urgencies the risk

3) Plan the retort

Ensure risk management is visible and timely

Before implementing the risk management strategy firstly confirm whether is visible or not and give the outcome on time or not.

Develop and maintain a risk management system across the program.

1) always clear your responsibility.

2) Create risk management system

3) Clear context

4) Identify risk

5) Evaluate the risk

6) Communicate with others

Undertake management of program risks in accordance with the plans that were developed during the previous activity.

Perform the following activities as part of the risk management process:

Manage the program in accordance with plans

This program is created by risk manager to identify the risk. Project manager manage the program and project .

Review progress, analyse variance, and initiate risk responses

1) Avoid them

2) Shifted them on others

3) Mitigate

4) receives

Ensure risks are assigned and monitored across the program at agreed intervals

Always monitor the programs that is implemented by project manager for risk management

Assess issues for impact and authorise remedial actions.

1) Historical review

2) Place identification

3) pledge a testing program

4) Comprehensive testing program

Conduct an assessment of project and program risk-management outcomes in relation to the implementation of methods during the previous activity.

Perform the following activities as part of the assessment process:

Identifying and documenting residual risk

To identify residual risk there is a formula is given below:

Residual risk= Characteristic risk- effect of the risk control strategy.

(Reith, & Armitage,2016)

Reviewing and analysing program risk outcomes

From the analysis of risk, we acknowledge the risk and its outcome and develop changes if there is wrong something in the risk management plan.

Documenting, analysing and recommending lessons learned

This lesson is about the risk management process, how we identify the risk, how we analyze the risk, and their control system which will help the organization reduce the risk. we also learn the effective strategies related to the risk management process. We learn how could the organization overcome this risk problem.

Performance Evidence Activity Checklist – for assessor

Checklist				Performance Evidence (PE)
Did the learner manage direct the planning of risk management for a program specific to your preferred organisation.?		Yes No (Please circle)		PE 1-4
Did the learner correctly undertake management of program risks in accordance with the plans that were developed during the previous activity.?		Yes No (Please circle)
Did the learner correctly conduct an assessment of project and program risk-management outcomes in relation to the implementation of methods during the previous activity?		Yes No (Please circle)
Comments
Provide your comments here:
The learner’s performance was:	Not yet satisfactory		Satisfactory

Competency record to be completed by assessor

This should be used by the trainer/assessor to document the learner’s skills, knowledge and performance as relevant to the overall unit. Indicate in the table below if the learner is deemed competent or not yet competent for the unit or if reassessment is required.

Learner’s name
Assessor’s name
Unit of Competence (Code and Title)
Date
Has the learner completed all required assessments to a satisfactory standard?			Yes No (Please circle)
Has sufficient evidence and information been provided by the learner to prove their competency across the entire unit?			Yes No (Please circle)
Learner is deemed:	Not yet competent	Competent

REFRENCES

Burbano, V. C. (2016). Social responsibility messages and worker wage requirements: Field experimental evidence from online labor marketplaces. Organization Science, 27(4), 1010-1028.

Geissert, P., Hallvik, S., Van Otterloo, J., O’Kane, N., Alley, L., Carson, J., … &Deyo, R. A. (2018). High risk prescribing and opioid overdose: prospects for prescription drug monitoring program based proactive alerts. Pain, 159(1), 150.

Hubbard, D. W. (2020). The failure of risk management: Why it’s broken and how to fix it. John Wiley & Sons.

Koulinas, G. K., Marhavilas, P. K., Demesouka, O. E., Vavatsikos, A. P., &Koulouriotis, D. E. (2019). Risk analysis and assessment in the worksites using the fuzzy-analytical hierarchy process and a quantitative technique–A case study for the Greek construction sector. Safety science, 112, 96-104.

Leveson, N. (2015). A systems approach to risk management through leading safety indicators. Reliability engineering & system safety, 136, 17-34.

Liu, B., Sjölander, A., Pedersen, N. L., Ludvigsson, J. F., Chen, H., Fang, F., &Wirdefeldt, K. (2021). Irritable bowel syndrome and Parkinson’s disease risk: Register-based studies. NPJ Parkinson’s disease, 7(1), 1-7.

Pandey, P., & Pandey, M. M. (2021). Research methodology tools and techniques. Bridge Center.

Pikoula, M., Quint, J. K., Nissen, F., Hemingway, H., Smeeth, L., &Denaxas, S. (2019). Identifying clinically important COPD sub-types using data-driven approaches in primary care population based electronic health records. BMC medical informatics and decision making, 19(1), 1-14.

Reith, C., & Armitage, J. (2016). Management of residual risk after statin therapy. Atherosclerosis, 245, 161-170.

Vishambar, A., Kaustubh, S., Kartik, P., &Salunkhe, A. (2016). Risk planning in construction of highway project: Case study. International Journal of Latest Research in Engineering and Technology (IJLRET), 2(3), 57-63.

World Health Organization. (2019). Health emergency and disaster risk management framework.

Zaiceanu, A. M., Hlaciuc, E., & Lucan, A. N. C. (2015). Methods for risk identification and assessment in financial auditing. Procedia Economics and Finance, 32, 595-602.

Manage Project Risk

Activity 1A

Activity 1B

Activity 1C

Activity 1D

Activity 2A

Activity 2B

Activity 2C

Activity 2D

Activity 3A

Activity 3B

Activity 3C

Activity Checklist – for assessor

Knowledge Evidence Activity Checklist – for assessor

Performance Evidence Activity Checklist – for assessor

Competency record to be completed by assessor