UNIT
Release 1 | This version first released with Replaces BSBPMG508A Manage project risk. |
This unit describes the performance outcomes, skills and knowledge required to manage risks that may impact on achieving project objectives. It involves identifying, analysing, treating and monitoring project risks, and assessing risk-management outcomes.
This unit applies to those responsible for managing and leading a project in an organisation, business or as a consultant.
The project manager operates within assigned authority levels, and is responsible for own performance and the performance of others.
The project manager may undertake the work in the context of an organisational program and/or portfolio of projects.
This unit has generic application for projects in a range of industries, organisations and contexts.
In the context of this unit a project is defined as involving:
a comprehensive, detailed and integrated project management plan
a formal communications plan
a dedicated and project-based budget
formal and planned engagement with a wide range of stakeholders
a documented risk, issues and change-management methodology
a quality plan with assurance and control processes
a project team-based environment.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Not applicable.
This unit contains employability skills.
Evidence of the following is essential: effective risk management for a project of sufficient complexity to demonstrate the full range of performance requirements applying risk-management techniques, strategies and tools. | |
Assessment must ensure: access to workplace risk-management documentation consideration of feedback from project stakeholders as to how risks were managed. | |
A range of assessment methods should be used to assess practical skill and knowledge. The following examples are appropriate for this unit: direct questioning combined with review of portfolios of evidence and third-party workplace reports of on-the-job performance by the candidate oral or written questioning to assess knowledge of the risk-management framework analysis of responses in addressing case studies and scenarios that present issues and problems in project risk management review of risk-management plans evaluation of monitoring of progress against project plans assessment of identified and documented risk issues and recommended improvements. | |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: other units in the Diploma of Project Management. |
Australian and international standards enterprise and industrial agreements industry codes of practice industry standards organisational and industrial agreements organisational policies, systems and procedures regulations and legislation. | |
legislation and regulation controls nature of project organisational risk policies and procedures project environment stakeholder expectations. | |
predicted future events threats opportunities hazards. | |
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 personal experience input previous risk registers risk workshops subject matter experts using specialist risk-analysis tools to assist in the decision-making process. | |
communications compliance consultative environmental finance health and safety human resources legal organisational brand physical political project assumptions project constraints project process risks quality social technology. | |
classification rankings from low to high consequence of risk scale impact of risk scale manual or software-based systems organisational risk policies and methods predetermined ranking criteria target and trigger settings. | |
be conducted routinely or as changing circumstances dictate be done independently within broad guidance involve consultation with other project members, teams and internal stakeholders involve taking a lead role in a team where required involve the selection, use and supervision of appropriate risk-management methods, tools and techniques. | |
audit trail for risk management over project life cycle format of information organisation systems and risk methods manual and computerised systems risk register summary outcome of risk processes. | |
accepted industry practice and codes of conduct existing risk planning actions legislation or regulation over processes modifications to plans and processes organisational risk policies and procedures quality systems work methods. | |
accept risk mitigate risk transfer or share risk avoid risk. | |
ad hoc due to emergency events gateway or stage transition reviews ongoing through team member assigned responsibility regular risk discussions at project meetings scheduled formal reviews. | |
in consultation with project team members, section heads, project managers and stakeholders independently or with endorsement of higher project authority if necessary regularly throughout the project life cycle taking into account internal organisational change and external environmental change. |
Management and Leadership – Project Management
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