Assessment Solutions of Risk Management Approach:BSBPMG616

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BSBPMG616 Manage Program Risk

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Question:

Assessment Task

This assessment is a portfolio of evidence, designed to assess your ability manage risks in the program.

You are required to:

Develop a detailed risk plan for the program
Develop a risk breakdown structure
Identify risk levels for the program
Develop a program risk register
Develop a contingency plan
Address a case study

To develop your assessment, you can work on either of the following scenarios:

Scenario 1: Choose an organisation and industry that you are familiar with. You could choose, for example, an organization you worked for or you work with.
Scenario 2: Work on Lonsdale Institute. Consider that Lonsdale’s management hired you to manage a program to assist them with positioning themselves as a leading private provider of business courses to international students in Australia.

Section 1 – Risk Management

Task 1 – Risk Management Approach

In the form of notes that you have written to yourself when developing the risk plan for the program, address the following creating cohesive paragraphs to collect your notes.:

Describe what risk methodology was selected for the program
Describe how the risk methodology was modified to match the context for risk
Describe what stakeholders were consulted to identify, document and analyse program risk levels and individual risks. Be very specific when mentioning the stakeholders and the risks. It is recommended to use a table where each category of risk is matched with the stakeholders who were involved in their identification and analysis.
Describe what support and mentoring you have planned to support the project managers in managing risks at their program level. Be very specific and detailed taking into consideration the different risks in the individual projects.
Describe how:
Risk management is made visible and dynamic across the program so that risks are assigned and managed in a timely manner.
The program risk-management system was developed to enable effective management and communication of risks, controls, treatments and outcomes to stakeholders across the program

Be detailed focusing on the government framework for the program, the stakeholder engagement strategy and the communication strategy applied to risk management.

Progress review, variance analysis and risk responses to achieve program objectives in dynamic risk environments will be monitored, documented and evaluated. Specify the agreed intervals for risk monitoring.
Actuated risks (issues) will be managed. Include an issue escalation process.

Task 2 – Risk Management Planning

Risk breakdown structure (RBS)

Develop a detailed risk breakdown structure (at least 3 levels) that takes into consideration risks identified at all program levels and appropriately categorise them.

Section 2 – Case Study

You are 6 months into the delivery of your program, consider that the following has happened:

One of the highest priority risks that was identified and assessed occurred (specify which one when starting your discussion);
One of the lowest program risks that was identified and assessed occurred (specify which one when starting your discussion);

Based on your program and your risk management planning, address the following:

Manage program risk

Based on the scenario (risks that have occurred), address all the following points:

Specify the high and low priority risks that have occurred based on your scenario
Describe how each risk will be managed according to your risk management plan
Describe how the risks that have occurred (issues) will be resolved, escalated (if needed) and reported
Describe how the risks were monitored, and at what interval, according to your risk management plan
Describe how the occurrence of the risk was communicated to you (program manager) according to your risk management plan
Describe what support will be provided to the project managers affected by the risks that have occurred
Develop an issue register and populate it with information about the risks that have occurred.

BSBPMG616 Manage Program Risk

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BSBPMG616 Manage Program Risk