Student Assessment Tasks
Student Assessment Tasks
BSBINS601 Manage knowledge and information
Contents
Introduction4Assessment Task 1: Knowledge questions5Assessment Task 1: ChecklistError! Bookmark not defined.
Assessment Task 2: ProjectError! Bookmark not defined.
Assessment Task 2: ChecklistError! Bookmark not defined.
Final results recordError! Bookmark not defined.
Introduction
The assessment tasks for BSBINS601 Manage knowledge and information are outlined in the assessment plan below. These tasks have been designed to help you demonstrate the skills and knowledge that you have learnt during your course.
Please ensure that you read the instructions provided with these tasks carefully. You should also follow the advice provided in the Business Works Student User Guide. The Student User Guide provides important information for you relating to completing assessment successfully.
Assessment for this unit
BSBINS601 Manage knowledge and information describes the skills and knowledge required to develop and maintain information and data systems to support decision making, and to optimise the use of knowledge and learning throughout the organisation.
For you to be assessed as competent, you must successfully complete two assessment tasks:
Assessment Task 1: Knowledge questions You must answer all questions correctly.
Assessment Task 2: Project You must work through a range of activities and complete a project portfolio.
Assessment Task 1: Knowledge questions
Information for students
Knowledge questions are designed to help you demonstrate the knowledge which you have acquired during the learning phase of this unit. Ensure that you:
review the advice to students regarding answering knowledge questions in the Business Works Student User Guide
comply with the due date for assessment which your assessor will provideadhere with your RTOs submission guidelinesanswer all questions completely and correctlysubmit work which is original and, where necessary, properly referenced
submit a completed cover sheet with your workavoid sharing your answers with other students.
iAssessment information
Information about how you should complete this assessment can be found in Appendix A of the Business Works Student User Guide. Refer to the appendix for information on:
where this task should be completed
the maximum time allowed for completing this assessment taskwhether or not this task is open-book.
Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix C of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that.
Questions
Provide answers to all of the questions below:
Describe at least two types of existing technology that can be used in knowledge and information management.
Existing technologies used in knowledge and information management:
Content Repository: these tools allow users to manage and share knowledge content. For many years knowledge management repositories were basically document management software. Today, more companies prefer tools that can manage a diverse range of content such as documents, web content, software. Content Management Systems and Cloud Content Management are two examples of this.
Communication Tools: these communicate knowledge and can be used to capture the knowledge generated by communication. This can include a number of tools such as email, chatting, instant messaging, speech recognition, telephone, video conferencing and others. Unified communications tools integrate communications into a single user experience.
Describe an emerging technology that can be used in knowledge and information management.
Emerging technologies used in knowledge and information management:
Collaboration tools: these are becoming easier to use and more important than ever. Connecting team members can be a challenge when staff working remotely. An example is social intranet software, which allows individuals to work on documents and communicate with each other in real time.
Visuals: are becoming more versatile and are replacing lists. Early versions of knowledge management software featured long lists, elaborate file names, average functionality, and images were seldom used. The visual aspect of knowledge-based software is evolving, and increasingly relies on images to help users navigate. Text-based lists are being replaced with images when files are being searched for.
Explain all of the following methods of analysis and their relevance to decision making.
correlation calculations
short to medium-term term and long-term trend analyses
probability assessment
regulation analyses
dynamic programming
linear programming
queuing theory
simulation
Correlation calculations: The correlation coefficient is used to measure the strength and direction of the linear relationship between two numerical variables X and Y. The correlation coefficient for a sample of data is denoted by r. Correlations can be used to predict the future of a business direction. If a correlation can be made between the behaviour of consumers and events and a particular type of product or service, this can be used to target audiences and to boost business.
Short to medium-term term and long-term trend analyses: Trend analysis attempts to predict coming trends based on recently observed trend data. It is based on the idea that what has happened in the past can give an idea of what will happen in the future, and business decisions can be based on this. There are three main types of trends: short-, intermediate- and long-term. Short term trend analysis us based on trends predicted over a very short period of time, such as days or weeks. Intermediate trend analysis is based on trends over months and long-term trend analysis analyses trends over years and decades.
Probability assessment: Probability assessment predicts the most likely outcome based on a
range of probabilities. It is used to ensure that decisions are based on the most likely outcomes.
Regulation analyses: A regulatory analysis is a formal analysis of a proposed government agency requirement, including estimates of benefits and costs that are quantified to the fullest extent possible . A regulatory analysis contains estimates of benefits and costs with a conclusion as to whether the proposed regulatory action is cost justified and documents the analysis in an organized and understandable format. A regulatory analysis is performed to support numerous actions affecting reactor and material licensees but is always required by NRC policy when an NRC action is expected to impact industry resources. In general, the NRC ensures that all mechanisms used to establish or communicate generic requirements, guidance, requests, or staff positions that would affect a change in the use of resources by its licensees include an accompanying regulatory analysis. Regulatory analyses are used to comply with Office of Management and Budget guidance and executive orders and as a decision tool for policy makers by providing a rationale for action and transparency for agency decision making.
Dynamic programming: Dynamic programming is a technique whereby a complex problem is broken down into a number of simpler subproblems. Each of the subproblems is solved individually, and their solutions are used to make decisions about the original, complex problem.
Linear programming: Linear programming is a method that is used to determine what the optimal scenario would be when the final goal and the conditions are all linear. For example, it can be used to determine which combination of products and services is most profitable, or which mode of transport is the least expensive.
Queuing theory: Queuing theory focusses on the congestion and delays of waiting in line. It examines every component of waiting in line, including arrival, service, the number of servers, and the number of subjects. Queuing theory can help users make informed business decisions on how to build the most efficient and cost-effective workflow systems. It can be used for determining how to provide faster and better customer service, improve traffic flow, or how to most efficiently ship orders.
Simulation: Simulation involves going through actions and consequence in a structured environment. It offers an insight into a wide scale of possible outcomes and chances, and this knowledge can then be used to come to the correct decision.
Outline three key features of management information systems and decision support systems.
Managing knowledge and information can be achieved through management information systems (MIS) and decision support systems (DIS) which have the following common key features:
Data Management: The most important feature of any information management system is its ability to store data and to make that data available to the systems users. The database that a company uses determines how their information management system will respond to requests for information.
Reports: The ability to produce information that helps in a decision-making process is a key feature of an information management system. Most information management systems provide a variety of reports while with others specific reports can be custom-tailored to a companys needs.
Open access: This means that a company can easily integrate their information management system with existing systems. This enables a company to comply with both external regulations and internal requirements.
Explain how risk management plans can be used in making decisions about actions to be taken for a business.
All businesses face risk. It's important to understand the risks to the business and find ways to minimise them. A risk management plan helps an organisation to do this by detailing how to deal with risks to the business. By spending time and resources developing the strategy for managing risk, the company can provide a safe workplace and reduce the chances of negative impacts on the business.
Risk management plan is a structured approach to managing uncertainty and reduce the impact of risk, it includes actions taken to: identify the risk, assess the risk, evaluate the risk.
Risk identification looks at identifying assets, threats, constructing risk scenarios of vulnerability and consequence.
Risk analysis looks at the elements making up each risk scenario to determine the likelihood and impact of each risk occurring then the impact to the business.
Risk evaluation should then provide an understanding of the significance of the risk level, prioritise them and then document the risk.
A risk matrix identifies the risks and can include a description of the risk, the cause, impact, likelihood of it occurring, the consequence, risk level and actions taken to mitigate the risk.
Project Portfolio
BSBINS601 Manage knowledge and information
Contents
TOC o "1-1" h z u Section 1: Collect and analyse information12Section 2: Seek stakeholder and specialist input to make decisions30Section 3: Maintain and support Knowledge and Information Management system33
Purpose for managing information and decisions to be made: to provide high quality training services to satisfy students needs.
Want to expand the brand name
Section 1: Collect and analyse informationReview existing business information.
To help you understand the information, make notes on the documentation you submit as proof (either by hand or using review functionality) and highlight any relevant sections.
Use existin g busin ess docu menta tion (e.g. strate gic plan, busin ess plan, policie s and proce dures) to identif y organi sation al goals, object ives, value s and stand ards.
Attach proof of organi sation al docu mentsAs per the Case study- King Edward VII College Executive Summary
A key objective is to develop the required knowledge and skills for clients to be job ready and competently undertake their chosen role in a wide range of business areas.
Mission
King Edward VII College provides high quality industry training that engenders participation and achievement.
Strategic Objectives
To be a leader in vocational education and training
To establish and maintain high quality infrastructure supporting clients and staffTo be well led, high performing, profitable and accountable
To develop our people and resources
Values
The core values underpinning our activities are:
Sustain excellence in training and assessment.
Promote innovation across all of our business operations.
Be a collaborative and caring community.
Embrace difference and diversity.
Demonstrate integrity and equality of opportunity in all activities.
Operate with openness and accountability.
Policies and procedures:
Finance policy and procedures
Petty cash policy
Use of business card policy
Financial Forecasts policy
you used for inform ation to answ er this questi on (e.g. strate gic plan). Information management policy and procedures
General Policies and Procedures: Record keeping policies and procedure and Complaints handling policy and procedures.
Identif y other inform ation releva nt to collect ing and analy sing data (inclu ding docu menta tion and analy sis requir ement s).
Attach proof of organi sation al docu mentsyou In order to collect information relevant to collecting and analysing data, the financial forecasts need to be prepared.
The updates of final forecasts along with a detail report highlighting the outcomes will be provided to senior management team will all the accurate and clear information.
Some other information relates to collect and analyse data are:
Finance policy and procedures.
Financial data.
Staff focus group.
Staff and student feedback.
Information management policy and procedures.
Policy and procedures
used for inform ation to answ er this questi on (e.g. policy and proce dures)
. Sum maris e legisla tion, regula tions, stand ards and codes releva nt to mana ging knowl edge and inform ation for your organi sation or work area.
Attach proof of your researLEGISLATION: To manage knowledge and information for the organisation the following legislations are relevant:
Privacy Act 1998: An Act to provide for the protection of personal information, and for the protection of the privacy of individuals generally; to provide for the appointment of a Privacy Commissioner; to repeal the Privacy Committee Act 1975; and for other purposes. This Act is the Privacy and Personal Information Protection Act 1998.
Fair work act 2009: The Fair Work Act 2009 (FW Act) protects certain rights, including: workplace rights. the right to engage in industrial activities. the right to be free from unlawful discrimination.
REGULATIONS: Some of the regulations relevant to manage knowledge and information for the organisation are:
Privacy regulation 2013: The Privacy Act 1988 (Privacy Act) is the principal piece of Australian legislation protecting the handling of personal information about individuals. This includes the collection, use, storage, and disclosure of personal information in the federal public sector and in the private sector.
Fair work regulation 2009: It provides for terms and conditions of employment and sets out the rights and responsibilities of employees, employers, and employee organisations in relation to that employment.
STANDARD: Some of the standards relevant to manage knowledge and information for the organisation are:
Information management standard: The Information Management Standard has been developed and issued to assist Australian Government agencies to create and manage business information effectively by outlining: principles for well-managed information within the Australian Government jurisdiction.
ASIC regulatory index: The regulatory index is a subject matter index that will help you find ASIC regulatory documents and legislative instruments by topic. It presents one pathway into ASIC's regulatory information and should be used in conjunction with the website site search and navigation.
CODE: Some of the codes relevant to manage knowledge and information for the organisation are:
ch sourc es (e.g. websit e links). Code of conduct in practice: A code of conduct is an important HR policy that outlines the standards of behaviour expected by your business of every employee. The code of conduct should be written down to give clear instructions about what employees can and can't do in the workplace.
LEGISTALATION:
https://legislation.nsw.gov.au/view/whole/html/inforce/current/act-1998- 133#:~:text=An%20Act%20to%20provide%20for,1975%3B%20and%20for%20other%20purposes.&text=This%20Act%20is%20the%20Privacy%20and%20Personal%20Information%20Protection%20Act%201998.REGULATION:
https://www.oaic.gov.au/privacy/privacy-legislation/the-privacy-act/rights-and- responsibilities#:~:text=Who%20has%20rights%20under%20the,your%20personal%20infor mation%20is%20handled.STANDARD:
https://www.naa.gov.au/information-management/standards/information-management- standard-australian- government#:~:text=The%20Information%20Management%20Standard%20has,within%20th e%20Australian%20Government%20jurisdictionhttps://asic.gov.au/regulatory-resources/regulatory-index/about-the-regulatory- index/#:~:text=The%20regulatory%20index%20is%20a,website%20site%20search%20and%20na vigation.CODE:
https://www.business.qld.gov.au/running-business/employing/high-performing- workplaces/policies- procedures#:~:text=A%20code%20of%20conduct%20is,t%20do%20in%20the%20workplace
.
Revie w existin g custo mer and staff feedb ack to obtain inform ation about the busin ess.
Attach proof of docu ments you used for inform ation to answ er this questi on (e.g. surve y result s). Mostly all the students are satisfied and happy with the services and facilities provided by the college, but students would like to have more time with the teachers. In case of staff, overall there is a positive feedback from the staff about their working environment and employers, they just raised concern about the admin hours and the payment related to it.
Revie w any other busin ess perfor manc e data (such as financ ial or sales data) releva nt to your purpo se for collect ing and analy sing data.
Revie w the availa ble inform ation.
Identif y any contra dictor y or ambig uous data and discar d it (all other data shoul d be
Business performance data:
Overview:
This new business plan reflects the approach to the coming years. College commenced operations in 2015 with relatively low student numbers which then increased significantly.
It was not expected these numbers to increase over the period 2021 2023 and the capacity in Melbourne and Sydney campuses were also limited and it will take some time to build up student numbers at the new campuses.
As per detail report of financial data:
Actual Student numbers in year 2018, 2019 and 2020 at Sydney and Melbourne campus:
Campus 2018 2019 2020
Sydney 40 62 86
Melbourne 40 65 100
Increase in student numbers per year overall:
58% increase in overall student numbers between 2018 to 2019 46% increase in overall student numbers between 2019 to 2020 As per Administration report:
Expenses 2018, 2019, 2020:
Campus 2018 2019 2020
Sydney $351,225 $405,675 $623,250
Melbourne $391,225 $445,675 $723,250
Increase in cost:
14.5% increase in costs numbers between 2018 to 2018
58% increase in costs between 2019 to 2020
In 2018 there was a variation in expected profit to actual profit by 20%. This was due to lower- than-expected student numbers in the first year of operation. In all other years, there were no significant variations in profit and loss. All costs increased by 10% except rent and wages. These stayed the same as rent is subject to a lease and wages costs increased as expected due to the need to recruit additional staff due to increase in students.
At the time of producing this report, it is expected that all costs except for rent and wages should be expected to increase by 10% per year. The gross profit before tax was $57,550 in 2018,
reliabl e and valid).
Your inform ation must includ e numer ical and/or financ ial inform ation.
Attach proof of the inform ation (e.g. profit and loss state ment). $418,650 in 2019, and $513,100 in 2020. Complete cost of arrangements is $742,450 in 2018,
$851,350 in 2019 and $1,346,900 in 2020 correspondingly.
Identif y, define and analy sing busin ess issues associ ated with the inform ation you are mana ging. Business issues associated with the information management are :Competitors: there are many training providers in the same sector, the need to create difference with the change in fees structure, experienced trainers and staff, best opportunities, and facilities on campus for the students are required.
Opening new campuses in other regions as Sydney and Brisbane require more cost and will increase expenses.
Lastly, changes in the business or government regulation and guideline may influence the understudies and the school . These progressions might bring positive advantages or negative advantages to the school .Identif y any furthe r requir ed inform ation (and its sourc es) to suppo rt decisi on- makin g and docu ment the requir ement s by followi ng organi sation al requir ement s.
Attach proof of how you docu mente d the requir ement s to this sectio n of
the As without proper records, and incomplete details it is difficult to monitor the performance and productivity levels. This lack of information can be harmful for the growth of the business and the development of the employees. It is necessary that the collected information is accurate and correct to be use at workplace.
Information requirement template attached.
portfol io.
For the case study, use Inform ation Requi remen ts Templ ate. Follo w the organi sation al requir ement s to set clear, releva nt and consis tent object ives for analy sing the inform ation. For analysing the information regular feedback can be taken from the staff through surveys, complaint forms, feedback forms, emails, and meetings.
Feedback should be collected in a well manner as per the requirements and to set clear, relevant, and consistent objectives.
To receive high-quality feedback, the organization may decide to enhance its feedback form.
Survey how data is gathered: Data is gathered from various sources, counting messages, reports, client records and overviews, calls, gatherings, casual and formal correspondence organisations, diaries, and PC sources.
Confir m that inform ation sourc es used in the asses sment so far are reliabl e and releva nt.
Why are the inform ation sourc es reliabl e?
How is the inform ation releva nt? To determine whether a source is relevant/reliable or not it is important to look at certain criteria. That criteria are as follow:
Authority: Who is the author? What are their credentials? Do they have knowledgeable experience in the field they are writing about? What is their reputation?
Accuracy: Compare the authors information to that which you already know is reliable. Are there proper citations? Is the information biased? If so, does it affect research conclusions.
Coverage: Is the information relevant to the topic and does it meet the needs? Consider the needs such as statistics, charts, and graphs.
Currency: Is the topic constantly evolving? Topics in technology and medical innovation require sources that are up to date.
An information can be trusted reliable by the theory that provides sufficient explanation and is based on strong evidence. Relevant information is data that can be applied to solve a problem . This is a particular issue when determining the format and content of an entity financial statements since the proper layout and level of detail of information can adjust the opinions of users regarding the future direction of a business.
Resource:
https://www.stevenson.edu/online/about-us/news/how-to-identify-reliable-information/Analyse business information.
Determine your approach to analysing information and knowledge and drawing conclusions.
Make sure you follow organisational requirements to identify and interpret patterns and emerging trends. You must perform numerical calculations on the information so that it is useable and can be reported on. You are also required to perform statistical analysis and sensitivity analysis where relevant. In order to be efficient and competent in managing knowledge and information, the use of appropriate digital technologies need to be utilised in order to manage business operations and perform statistical analysis and calculations on data.
The analysis of data, information and knowledge can identify patterns and emerging trends by using:
spreadsheet functions to analyse data.
statistical analysis
cause and effect data analysis
the interpretation of data
the interpretation of information
primary/secondary research.
Statistical analysis: Statistical analysis can be used to aid decision making by establishing numerical benchmarks and providing patterns and trends for analysis. It is important to note that any statistical analysis must be followed up with interpretation, in an easily understandable format for decision makers. For example, statistical analysis may be presented as a graph with an explanation of the findings.
Sensitivity analysis: Applying statistical analysis, sensitivity analysis and other techniques are very useful to draw conclusions relevant to decisions. A sensitivity analysis is used to assess how different values of an independent variable affect a particular dependent variable under a given set of assumptions.
Trend analysis data and record pattern : Various computerised tools can be used to visually present the data for analysing the patterns and trends . Microsoft Excel and Work provide graph design functions and charts and helps with many business- related software services and products.
Analyse the information.
Present the analysis in a usable format.
If using the case study, attach your Forecast spreadsheet.
Write a briefing report.
Attach your report to this section of the portfolio. Briefing report: It is a detail report about the number of students enrolled in Sydney and Melbourne campuses, fees of the course, revenue made, total expenditure, and profit.
The objectives of this report are:
Give a financial forecast.
Provide data and information about the applicability of business extensions.
Business performance:
As per the financial year analysis for 2018-2020:
In 2018, total number of students enrolled in Sydney and Melbourne campuses were 80, in that year the fees of the course- $10,000, the revenue made-
$800,000, total expenditure- $742,450, the total profit- $57,550 respectively.
In 2019, total number of students enrolled in Sydney and Melbourne campuses were 127, in that year the fees of the course- $10,000, the revenue made-
$1,270,000, total expenditure- $851,350, the total profit- $418,650 respectively.
In 2020, total number of students enrolled in Sydney and Melbourne campuses were 186, in that year the fees of the course- $10,000, the revenue made-
$1,860,000 total expenditure- $1,346,900, the total profit- $513,100 respectively.
After reviewing the exception report for each financial year, the annual increase in expenses other than rent and wages is 10%. At the end of the 2018, 2019 and 2020 financial years, the academy made profit each year and is continuously growing.
Plan for knowledge and information management.
Research new technologies available that may be used for information and knowledge management.
Attach proof of your research sources (e.g. website links, screen shots etc.). Advanced technologies can help to free up human resources to focus on more important tasks while also enhancing operational efficiency, productivity, and significant cost savings across the organization. Advanced technologies like AI, ML, NLP, and digital threading can help to vastly improve the knowledge management process, much of which is still handled either manually or by using disparate data systems that dont link up to one another.
New technologies available that may be used for information and knowledge management:
Artificial intelligence
Machine learning
Natural language processing
Digital threading
https://www.sdcexec.com/software-technology/article/21035356/ihs-inc-use-advanced- technologies-to-enhance-knowledge- management#:~:text=For%20engineers%2C%20advanced%20technologies%20like,lin k%20up%20to%20one%20another.Identify and describe suitable options for storing and accessing information for your specific knowledge and information management purpose (at least two). Local server: A local server allows web developers to realize the web-site on their computer without access to the Internet. The need to use them is constantly increasing, especially when developing dynamic sites in PHP. The most popular local servers to date are Open Server, Denwer, Winginx, XAMPP.
Dropbox: Dropbox is a home for all your work. You can store and share files, collaborate on projects, and bring your best ideas to life whether you're working alone or with colleagues and clients. With Dropbox, all the files are backed up to the cloud and available online.
Explain how the options (above) support information security. Local Server: Local Server security focuses on the protection of data and resources held on the servers. It comprises tools and techniques that help prevent intrusions, hacking, and other malicious actions. Server security measures vary and are typically implemented in layers.
Dropbox: Dropbox is a popular cloud file storage or file hosting service. It enables individual users and businesses to store, locate, manage, and share digital assets from a centralized location. Dropbox allows users to save files within online folders and sync them across devices. Dropbox also helps unify some aspects of your asset library and, to some extent, allows users to edit and collaborate on files. Users can control access and permissions for files stored on Dropbox and work both online and offline. Files are automatically backed up and it integrates with a range of systems such as Microsoft, Slack, and digital asset management (DAM) systems.
https://www.bynder.com/en/glossary/dropbox-definition/Design a proposed folder structure to use in your information and knowledge management system.
Plan for communication.
Your communication plan should include at least one new and innovative communication idea suitable to your organisationThis plan will be relevant and put into action once stakeholders have made decisions based on your analysis.
Audience Key message Delivery method Frequency and duration of session (if applicable) Location
Students Inform them about Upcoming new campuses. Social media, and websites Monthly newsletter N/A
Staff members Updates about new campuses Meeting, newsletter Once a month meeting Head office
Senior management Process of new business project Email As per required Head office
Staff member Information about the project- storage and usage Meeting, emails changes occur Head office
Staff member Updates Meeting, email, bulletins boards, website Twice a month N/A
Plan for risk management.
Identify four risks for your specific knowledge management purpose and provide at least three mitigating activities that could be undertaken for each risk (e.g. for the case study what are the risks if the expansion project goes ahead and how might those risks be controlled?).
Risk Mitigating activity
Challenge in recruiting new staff admin, and trainers. Attractive salary
Recruiting agencies
Providing opportunities for professional and personal development
Failure to enrol specified number of students at new campuses Advertisement on social media
Promotions-campus placements
17193434710109
Risk Mitigating activity
Over budget Financial planning
Monitor expenses and incomes.
Seek financial advice.
Location for campus Contact different estate agencies.
Attach: Existing business documentation (e.g. strategic plan, business plan, policies and procedures) to identify organisational goals, objectives, values and standards
Other information relevant to collecting and analysing data (e.g. policies, procedures, templates etc.)
Research sources for legislation, regulations, standards and codes
Existing customer and staff feedback
Any other business performance data (such as financial or sales data)
Documented information requirements
Forecast spreadsheet (if using the case study)
Briefing report
Section 2: Seek stakeholder and specialist input to make decisionsConsult with stakeholders to collect and review business information.
Distribute your Briefing Report, Information and Knowledge Management Plan, Communication Plan and Risk Management Plan to stakeholders following organisational requirements.
If you are basing this assessment on the case study, you are required to draft an email to the stakeholder (CEO) and consultant (assuming that the report and plan are attached) to distribute the necessary information to them.
Attach proof of how you distributed the information to stakeholders. Dear CEO,
Subject: detail reports and plans for the assigned task
I am very thankful for the opportunity you provided me to work on this assigned task. I hope this mail finds you well. I am writing to present the detail report and plan by meeting the organisation requirements.
All the required documents such as the briefing reports, Information and Knowledge management plan, communication and risk management plan all have been attached with this mail.
Please contact me if you have any further questions. Thanks,
Finance manager
Summarise the stakeholder meeting outcomes.
Who did you meet with?
What did you explain, discuss and confirm?
If not already viewed in person by your assessor, attach proof of the stakeholder meeting. The meeting was conducted with all the stakeholders.
All the important aspects have been explained, discussed, and confirmed.
Increase in salary package of the trainers.
Regular review of financial management.
Provide training to the required staff as per the requirements.
Make decisions based on your analysis and stakeholder/specialist meeting.
What decision is the best choice?
How does the decision support and align to organisational objectives, values and standards? The best decisions will be:
Hire new and experienced staff and trainers.
Open new campuses in other regions as well to increase the number of students.
Make clear organisation goals and communicate it to stakeholders to make it understandable for all.
Adjust the Communication Plan to incorporate meeting outcomes.
Highlight your changes or show them in bold.
Audience Key message Delivery method Frequency
and duration of session (if applicable) Location
Senior management Progress on the change process Face to face meetings As required Head office
Students Inform them about opening of new campuses Website: newsletter, social media, announcements on notice board Regularly On campus, internet
Staff Seeking inputs for new campuses Face to face meeting Weekly meeting Head office
Staff Updates Meetings, emails, bulletins boards, website Twice a month zoom meetings
Staff Updates on project- storage and usage Emails When changes required or occur Head office
Proof of how you distributed information (e.g. draft email)
17663331100801
Attach: Proof of meeting with stakeholders (if required)
Section 3: Maintain and support Knowledge and Information Management systemSet up the approved knowledge and information management system.
Use the chosen digital technology to design the approved knowledge and information management system.
Use the folder structure approved by the stakeholders.
Attach proof of the system (e.g. screen shots). OneDrive is an online cloud storage service from Microsoft. OneDrive integrates with Windows 11 as a default location for saving documents, giving Microsoft account users five gigabytes of free storage space before giving upgrade options.
OneDrive allows users to save files, photos and other documents across multiple devices. A user can also save their files in OneDrive and have it automatically sync on other devices. This means someone can access and work on the same document in multiple locations. OneDrive provides relatively easy access to cloud storage space, allowing options to share content with others.
Test your system.
How will you test the system?
Attach proof of how you tested the system. Staff feedback can help in testing the server.
Tracking the time taken for different operations with low-to-high intensity loads on a system (does the server have enough power to withstand the load)
Finding out the number of users that can use the product simultaneously.
Performance testing can be done by measuring the load time, response time, scalability, and overall performance.
Penetration testing can be done to save the server from hackers, and to detect the weak points of the system.
Overall testing of the system is very important to locate the issues and solve them before it causes threat and risks.
Support information security.
Write a policy and procedures that address information management including information security, confidentiality and privacy.
Attach your policy and procedures for proof. Support information security: The term 'information security' means protecting information and information systems from unauthorized access, use, disclosure, disruption, modification, or destruction in order to provide integrity, confidentiality, and availability.
Policies linked with all the supportive information system:
Data migration policy
Confidentially and Information Management Policy
Information security policies
Data governance Policy.
Acceptable use policies like backup policy, asset disposal policy, BYOD policy, clean desk policy, electronic communications policy, email usage policy, Internet usage policy, or social media policy.
Resource: https://www.michalsons.com/focus-areas/ information-technology-law/types-of-it- policies#:~:text=Categories%20of%20IT%20policies &text=Examples%20include%20an%20incident%20response, framework%20or%20data%20sharing%20policy.17663335582725
Maintain knowledge the Information and Knowledge Management System.
Save all relevant documents in the correct locations in your Knowledge and Management System.
Take a screen shot of the saved documents for proof.
Attach: Knowledge and information management system proof
Proof of how you tested the knowledge and information management system
Information management policy and procedures
453075356515PROJECT PORTFOLIO
020000PROJECT PORTFOLIO
-9899652968539Project Portfolio
BSBPMG632 Manage program riskProject Portfolio
BSBPMG632 Manage program risk03322955STUDENT VERSION
020000STUDENT VERSION
05887106MANAGE PROGRAM RISK
00MANAGE PROGRAM RISK
05212008BSBPMG632
020000BSBPMG632
Contents
TOC o "1-3" h z t "RTO Works Heading 1,1" Section 1: Establish and support program risk management PAGEREF _Toc74212110 h 6Section 2: Manage program risk PAGEREF _Toc74212111 h 10Section 3: Evaluate risk management processes PAGEREF _Toc74212112 h 13
Student name: Assessor: Date: Business this assessment is based on: Program description (including associated projects) and program objects:
Section 1: Establish and support program risk management
Summarise information about your chosen organisation as it relates to the program you will manage (including the desired outcomes)
Attach proof of any relevant documentation to this section of your portfolio (e.g. Section from the Strategic plan). Identify stakeholdersWhich stakeholders are associated with managing the risk of the program?
How are they associated with the risk management process? Identify communication requirementsProvide three examples of when communication with stakeholders may be required across the program to manage risk.
Why is the communication important for risk management?
Select three appropriate methods that may be used for the communication. Document initial ideas about the program risk management
What are potential program risks?
What is the current risk management approach (e.g. according to existing policies and procedures)?
Describe an ideal program methodology to address the risks.
How should risk management be integrated across the program?
When should risks be monitored and assessed across the program?
Attach any existing risk approach information to this section of the portfolio (e.g. risk management policy and procedures). Prepare discussion points for a meeting with other stakeholders Summarise your meeting with stakeholders
Who attended the meeting?
Explain how the stakeholders were diverse (e.g. different gender, ages, cultural, ability, role etc.).
What did you discuss and agree on?
Attach proof of your stakeholder meeting (unless already viewed in person by your assessor). Develop a Risk Management Plan
You must document and analyse at least five risksand treatment measures.
Also prioritise each risk and assign an order for treating risks.
Attach your plan to this section of your portfolio. Draft an email to share your Risk Management Plan with stakeholdersAttach your draft email to this section of the portfolio. Create a Mentoring Plan for one project Manager.
Attach your Mentoring Plan to this section of the portfolio.
Attach proof of your mentoring session to this section of the portfolio (unless already viewed in person by the assessor). 61859414351000 Attach: Organisational documentation
Proof of your stakeholder meeting (if relevant)
Existing risk approach information to this section of the portfolio (e.g. risk management policy and procedures)
Risk Management Plan
Draft email to share the plan
Mentoring Plan
Mentoring session (if relevant)
Section 2: Manage program riskDraft an email to relevant program stakeholders requesting program updatesAttach your draft email to this section of the portfolio. Summarise program progressHow have projects in the program progressed?
Identify at least two different variances to desired outcomes that have actuated risks. Perform impact analysis for each identified varianceWhat is the impact of the variance over time?
How does the variance impact the program objectives?
What should be done to correct the impact of the variance (what remedial action is required)? Request authorisation for the risk responses to be actionedAttach your draft email to this section of the portfolio. Respond to stakeholder responses to your request for a progress update by drafting an emailAttach your draft email to this section of the portfolio. Initiate a risk response for each varianceAction the authorised remedial actions.
Attach proof of how you initiated a risk response for each variance.
Attach proof of your updated Risk Management Plan.
61859414351000 Attach: Draft email requesting program updates
Draft email requesting authorisation
Proof of risk response 1
Proof of risk response 2
Updated Risk Management Plan
`
Section 3: Evaluate risk management processesSeek feedback about risk management outcomes from program stakeholders by creating a surveyAttach your survey to this section of your portfolio. Analyse program outcomes
What was achieved?
Were the objectives met?
What went wrong?
What was successful? Evaluate the overall risk management process
Make sure you answer from your own personal experience during this assessment.
Was it easy or difficult to identify risks?
Was staff input (at the meeting) helpful?
How confident are you that all program risks have been identified?
Consider whether the process indicated in the current Risk Management Policy and Procedures is sufficient to guide the risk management process for program management. Explain why or why not.
Explain whether the principles of risk management in the risk management policy and procedure is consistent with AS/NZS ISO31000:2009 Risk Management Principles and Guidance.
Whatchangeswould you recommend to the risk management processand to assist program management outcomes and lessons learned for other programs?
What lesson have you learned for future risk management? Update Project management Plan to document residual riskWhat residual risk exists (at least one)?
Add review comments to the plan to document lessons learned.
Highlight any changes.
Attach your updated Project management Plan to this section of the portfolio. Draft an email to respond to feedback, document risk-management outcomes and transfer liability for the riskAttach the draft email to this section of the portfolio.
61859414351000 Attach: Survey
Updated Project management Plan
Draft email to respond to feedback etc.
-12453382993476Simulation Pack
BSBPMG632 Manage program riskSimulation Pack
BSBPMG632 Manage program risk
Case Study Grow Management Consultants
Grow Management Consultants specialises in leadership consultancy. It has been operational for five years. The company offers a range of services to assist companies to assess leadership behaviour of existing managers and performance metrics. The leadership program consists of:
leadership conference
professional development workshops
an E-book.
The objectives of this program align with Grow management consultants strategic goals and objectives (outlined in the Strategic Plan). The specific objectives are:
Achieve profits of at least 10% per annum.
Customer-centred practice, with a focus onmeeting their total needs forhigh-qualitymanagement.
Strengthen the skills of our people, to better support customers.
Each year the company runs a Leadership Conference in October. Daniel Streep, the Administration Manager is responsible for organising this years Conference. Dan has been responsible for the Conference for the last two years. The speakers who are invited are industry and academic leaders who are well known and respected. Most of them rarely speak in public, which means that the Conference is always well attended. It has shown a small profit every year it has been run.
The company offers regular professional development workshops on all aspects of leading and managing staff. The workshops are conducted every 3 months in Sydney, Brisbane and Melbourne, where they also double as networking events. The workshops are also offered to businesses, who run them for their management as part of their ongoing education programs. In 2020/2021, the company ran a total of 36 workshops. The Operations Manager, Donna Chisholm is responsible for organising and developing all the workshops.
The workshops are the principle means of advertising for the companys consultancy services, where most of Grow Management Consultants income is generated. The senior consultants run the workshops. They, and their assistants (who also work as consultants), then use the contacts generated there to get commissions to carry out management-level assessments and projects for the company. Donna co-ordinates the consultants with the workshops.
The company has also produced an E-book Business Growth Leadership Techniques. The E-book has had reasonable sales, but these have been restricted to Conference and workshop attendees, where they have been well received. Several senior consultants have also expressed interest in writing an eBook in their area of expertise. The eBook project that was developed was led by Erin ODonnell, who has been the companys Marketing Manager for three years. The eBook was identified as a company asset that could generate more income with more effective marketing, and Erin was appointed the eBook Project Manager.
The new CEO wants you to ensure the risk management is built into the program approach and has therefore also asked you to plan program risk management.
Information relevant to Section 1 of the Project Portfolio
The help you get started, the CEO has forwarded a summary of the feedback from stakeholders involved inprogram risk management to date:
Risk Management Planneedsto be very clear and comprehensive
Use a range of risk management tools and techniques
Involve stakeholders early in therisk management process
Prioritise risks
Carefully analyse risks to determine appropriate risk feedback.
Monitor risks carefully as they can change.
Your risk management plan has been approved by the CEO and all stakeholders are on board and excited about the benefits that the program will bring to the organisation.
Dan Streep approaches you. He asks you if it would be possible to develop a mentoring relationship with you as he is interested in learning more about program risk management and moving into program role in the future with a particular focus on program risk management which reflects his area of interest. He would also like to know more about program risk management generally, as well as how to identify program risks and analysis, evaluation and treatment of risks in the context of program management.
You speak to the CEO about this and the CEO approves the mentoring relationship.
Information relevant to Section 2 of the Project Portfolio
Time has passed and you would like to review the project progress. In response to an email you sent, you received the following updates:
Dear [your name]
Thank you for your email. I have been monitoring the risks that were assigned to me and am always on the lookout for any new potential risks. Thank you too for your ongoing mentoring, I have benefitted from the sessions.
The Leadership conference planning is going well and were on track to having everything ready to go.
We are still not entirely sure of what the conference attendees expect from the conference. We need to make sure we deliver to meet expectations.
Kind regards
Daniel Streep
Dear [your name]
Thanks for checking. Ive had positive feedback about the actual workshops from everyone attending our workshops. However, many of the attendees have expressed their concern about our resource usage. They say there is a lot of paper wasted and a few have commented about our sustainability practices. Im not too sure how to address this feedback.
Kind regards
Donna Chisholm
Dear [your name]
The E-book is progressing very well. The content has been developed and is almost ready to be launched. Some of the administrative staff have been under a lot of pressure working many extra hours. The strain is starting to affect the quality of their work. I think we need a dedicated staff member to assist in the administration of the E-book.
Cheers,
Erin ODonnell
You have decided to respond to the variances in program progress as follows:
Variance/Challenge Remedial action
Unsure of client expectations for leadership conference. Develop a client questionnaire that can be used to measure client expectation and satisfaction.
Workshops are not using resources optimally. Measure the companys environmental sustainability and resource usage, commencing with the head office location.
E-book staff overworked and quality is thus affected. Create a job description for a new administrative role to assist in program administration (to free up the time for the existing staff to concentrate on the E-book administration).
You requested permission from the CEO to proceed with the remedial action. His response was as follows:
Dear [your name]
Thank you for the thought and effort youre putting into managing the program risk to achieve our objectives.
I agree with your risk responses, however the workshops environmental resource usage is a larger issue and I would like to give it some more thought. I think we need to seek advice from an external consultant.
Please continue with the other two actions. I recommend using a free survey tool (such as SurveyMonkey) for the questionnaire. Extend the questionnaire to all aspects of the program we can send it to all our clients. Also, make sure you use our business Job Description Template when creating the job description. This role should assist in general program administration to free up time for another staff member to focus on the e-book.
Kind regards
CEO
Information relevant to Section 3 of the Project Portfolio
The program has been completed. The organisations profit margin is on track to achieve the desired 10%. A recent staff survey to measure staff satisfaction levels produced the following results:
What do you like most about working for this organisation?
The people I work with and the people I work for.
Thegoal-orientedatmosphere and the drive of thecompany to grow.
Seeingeveryoneachieve their goals.
The feeling that what I do on a day-to-day basis has a direct impact on our company andits success.
That there is always something new and exciting in the works;everyday there is an effort to make things better for the company and the clients.
Commitment to training and professional development.
What do you like least about working for this organisation?
Unstructured performance review.
Not enough training.
Irrelevant training the training I recently completed in management did not help me to do my job, I would have preferred on the job training.
Not enough communication between staff and management.
Not rewarded for my efforts.
Asked to do things above and beyond my job description.
Not recognised for efforts.
What causes you the most stress or frustration at work?
Disorganised processes, not consistent with managerial decisions.
Too much work.
Not always clear what my role is.
If you were theCEOof this organisation, what would you do differently?
I would setclearergoals and rewards for my staff.
More staff participation in the meetings.
Layout a vision, give clear expectations and job descriptions to each person and "let go" so the business runs in an efficient manner as possible.
Give timely and effective feedback.
Employ more women inproject positions to add diversity to the organisation.
On the job training is most beneficial so I would focus on this.
Whatis itabout this organisationthatcauses you to givemore than whats expected (ornecessary to keep your job)?
I really connect with the vision of the company.
I want to seethe company succeed.
I want to keep my job.
The company is growing, Ive been able to transition into a new managerial role.
What about this organisation causes you to withholdanextra effort?
My specific role within the company does not tap into my full potential.
I feel I am unchallenged hereand therefore I don't feel that I am working as hard or trying as hard as I could be.
Seeing a lack of effort from others.
What gets in the way of teamwork and/or cooperation in this organisation?
People who do notmake the effort to find out about the company and its services andprocedures.
Procedures that are set up for very good reasons,but not followed.
Managers that are not available when you really need them because they areoften in meetings. Meetings are important,but so is supporting your team in every way that you can.
Therecan beanus versus themmentality, Ive found this with some staff members who have been promoted to senior roles.
Lack of clearly defined projects.
Lack of interconnected across projects.
What could be done to improve teamwork and cooperation?
People need to be trained properly and by a manager,so that they can learn the proper proceduresand be encouraged to take notes for future reference. This will also allow the manager to see theemployeesprogress(or lack thereof).
Thethree-monthprobation periodto determinewhether or not the person will fitinwith the team and be able to grow with the company. Thethree-monthprobation is not being used.
Better communication and cooperation throughout the whole company.
Better communication.
Better project plans and progress reporting.
The Leadership Conference took place and client expectations were met. The following comments were received:
Great conference, excellent communication before the conference and my expectations were exceeded. Great job!
Helpful conference thanks but I think you should consider sustainability there was way too much paper wasted.
This was a worthwhile use of my time, thank you. Next time, think about smaller details such as access to device charging stations and recycling bins.
All workshops were also completed as planned.
A new program administrator was appointed, which helped the staff working on the E-book to reduce their workload and improve the quality of their outputs. The following performance reviews were done for the E-book administration staff:
Name: Janie Chaplain
Position: Administration officer
Workhours review: Janie worked 10% overtime during this review period. However, after a new staff member was appointed, her weekly work hours reflected no overtime.
Work output review: Janie worked mostly on the E-book for this review period. She frequently made small typing or operational errors when working overtime. Her recent work has been of excellent quality.
Professional development requirements: Training is required to improve technical ability and improve resource usage.
Name: Johan Jorg
Position: Administration officer
Workhours review: Johan worked 15% overtime during this review period. However, after a new staff member was appointed, his weekly work hours reflected 2% overtime.
Work output review: Johan worked mostly on the E-book for this review period. He frequently made small technical errors when working overtime. His recent work has been of excellent quality.
Professional development requirements: Training is required to improve his research skills.
You sent a survey to the program managers to obtain their input on how risks were managed. The results are shown below:
CEO Operations Manager Marketing Manager Administration manager
Was my communication clear and accurate? Yes Yes Yes Yes
Did you understand your responsibilities in the risk management process? Yes Mostly Mostly Yes Mentoring helped
Do you agree with the implemented risk responses? Yes No sustainability is important and should have been prioritised Yes Yes
Was the remedial action effective? Yes Still waiting for a sustainability assessment to be authorised Yes Yes
What would you do differently? More regular risk meetings Include risk management as an agenda item in weekly team meetings Not too sure Mentoring for everyone
Are there any residual risks remaining? Resource usage Resource usage Resource usage Resource usage
To complete the risk management administration, you have decided to email the CEO. In your email, you thank them for completing the survey, summarise the overall program outcomes and transfer the liability for the residual risk to him.
Company Information
345 High St, Ashbury NSW 2424
+61 02 98787654
info@growmanagementconsultants.com.au
www.growmanagementconsultants.com.au
Established in 2010, Grow Management Consultantsspecialisesinassistingcompanies to improve their employeesleadership performance.
Grow Management Consultantsdraws on its up-to-date knowledge and skills in best practice leadership concepts to assist clients with leadership performance.
Grow Management Consultants are committed to promoting individual and organisational leadership excellence. We do this by:
providing mentoring
providing training
providing coaching
providing management consultation
providing managementprogram evaluation
providing development ofcutting edgetools, resources and expert advice
sharing best and next practices
leading organisations through the process of creating a leadership culture
recognising and celebrating excellence in leadership.
Grow Management Consultants encourages andnurturesa cultureensuringitsteam is dynamic and innovative and maintains the highest possible client service standards.
centercenterGrow Management Consultants
StrategicPlan
2021 2023
Grow Management Consultants
StrategicPlan
2021 2023
-1534744594958Note to assessor: You may change these dates to reflect the time period in which this assessment is being done. Make sure you work through the Simulation Pack to change all dates accordingly.
Note to assessor: You may change these dates to reflect the time period in which this assessment is being done. Make sure you work through the Simulation Pack to change all dates accordingly.
Welcome
Welcome to the Strategic Plan for Grow Management Consultants.
This document sets out our vision for the next three years and how we hope to achieve it.
We hope you enjoy reading this document.
Paul Burns
CEO
Grow Management Consultants
Executive Summary
Established in 2010, Grow Management Consultants is a management consultancy company specialising in providing services to companies to assist them to improve the leadership performance of their staff. Grow Management Consultancy draws on its up-to-date knowledge and skills in best practice leadership concepts to assist clients with leadership performance
MissionStatement
Grow Management Consultants are committed to promoting individual and organisational leadership excellence. We do this by providing mentoring training, coaching, consultation and program evaluation; offering cutting edge tools, resourcesand expert advice; sharing best and next practices; leading organizations through the process of creating a leadership culture; and, recognising and celebrating excellence in leadership.
Our values are:
Core values underpinning our activities are:
Quality.
Innovation.
Respect.
Reliability.
StrategicPriorities
To be well led, high performing, profitable and accountable
Ensure that all financial operations, performance indicators and results support the strategic policies.
Identify new and expand existing sources of revenue, including establishing a training college to offer accredited training in leadership.
Achieve profits of at least 10% per annum.
Develop services to meet customer needs and aspirations
Increase range of servicesoffered to include change management and diversity.
Holdan annualConference.
Increasesales and range of e-books.
Continue building deeper customer relationships
Customer-centred practice, with a focus onmeeting their total needs forhigh-qualitymanagement.
Strengthen the skills of our people, to better support customers.
Drive innovation to better meet customer demands.
Attract, engage and develop the best staff
Continuing the drive to a customer centred, high performance workforce and culture.
Strengthening the skills of our people, to better support customer needs.
Empowering innovation and responsiveness to change.
Continuing to enhance the diversity of our workforce.
Employing additional consultants.
Developing our human resources by implementing a formal human resources framework.
Exploring the use of technology in human resources.
The Market
The Management Consulting industry has grown weakly over the past five years. Poor demand from downstream markets constrained industry revenue growth, with financial services and resources firms cutting spending on management consultants due to economic uncertainty and falling commodity prices.
However, businesses using management consultants to introduce new business processes and enhance operating efficiencies have partly offset this trend. Industry operators have also increasingly incorporated analytics into their services, which offer clients greater understanding of their business and clients. Demand for services backed by analytics is expected to contribute to growth of 3.8%per annum until at least 2025.
Research also shows that there is a need for workers to have strong leadership and management skills to support collaborative management, managing teams for a distance, empowering others and business acumen.Thus, the demand for leadership consultancy services is still strong.
Situation Analysis
Strengths Weaknesses
Value and quality
Strong management
Customer loyalty
Friendly organisational culture
Level of available finance for investment Brand name not developed as yet
Small organisation
Opportunities Threats
Leadership skills in demand
Opportunities to offer a range of services High level of competition
Economic downturn meaning less spent on consultants
Failing to satisfy clients demands
Risk Management
Grow Management Consultants has a comprehensive risk management system in place and uses a Risk Management Policy and Procedures and Risk Management Plans.
Potential risks that apply to our objectives and activities as per this Plan include:
Risks Likelihood/Impact Strategy to address risk
Demand for services. Possible/ High Grow Management Consultant has considered likely demand and has factored this into projection and budgets.
Clientsmay not pay fees on timewhichmayarise temporarycash flowissue. Unlikely/ Medium This is highly unlikely asthere are strict payment procedures in pace.
Competition. Likely/ Medium Have appropriate planning and strategies in place completed by market trends to ensure a unique service offering.
Inability to attract qualified staff. Possible
High Offer attractive terms and conditions.
Marketing Strategies
Our marketing strategies aim to:
build our brand.
generate leads now.
convert those leads quickly.
have every part of the business supporting each other.
We plan to develop our market share by:
improving our marketing and advertising.
continually improving the quality of service given to clients.
maintaining effective communication channels with all stakeholders to ascertain industry requirements and then develop products and manage services accordingly.
continually improving communication channels with all our stakeholders, ensuring a flow of timely and accurate information to facilitate effective planning and decision making.
targeting identified growth markets with planned, market appropriate campaigns employing a variety of promotional strategies and advertising mediums.
offering attractive fee structures to our clients.
continually improving the skills, knowledge and effectiveness of Grow Management Consultants through our commitment to training and development.
regularly reviewing the effectiveness of all our operations and making improvements when and where necessary.
Operational priorities
Design and develop a monthly newsletter to send out to all clients.
Create a blog page on web site to provide regular latest news.
Risk Management Policy and Procedures
Purpose
To provide information and guidance on Risk Management.
Scope
This Policy applies to allGrow Management Consultantsemployees.The policy extends to all current and future activities, and new opportunities.
Recognition
Grow Management Consultantsrecognises the need for risk management to feature as a consideration in strategic and operational planning, day-to-day management and decision making at all levelsofthe organisation.
Principles
The following principles form the foundation of theGrow Management ConsultantsRisk Management Policy and Procedures.
A commitment to implement risk management effectively
Grow Management Consultantsis committed to managing and minimising risk. This will be doneby identifying, analysing, evaluating and treatingrisk exposurethat may impact onGrow Management Consultantsachieving its objectives and/or the continued efficiency and effectiveness of its operations.
Grow Management Consultantswill incorporate risk management into its planning and decision-making processesand itmust also be included as a consideration in operational planning as a delegated line management responsibility.
Grow Management Consultantsstaff must implement risk management according to relevant legislative requirements and appropriate risk management standards.
A commitment to training and knowledge developmentin the area of risk management
Grow Management Consultantsis committed to ensuring that all staff, particularly those with management, advisory anddecision-makingresponsibilities, obtain a sound understanding of the principles of risk management and the requisite skills to implement risk management effectively.
A commitment to monitor performance and review progress in risk managementGrow Management Consultantswill regularly monitor and review the progress being made in developing an appropriate culture of risk management and the effective implementation of risk management strategies throughout the organisation as a basis for continuous improvement.
Responsibilities
Risk must,first and foremost,be managed at the corporate level as part of theGrow Management Consultantsgood governance and corporate management processes. Risk management is considered an integral part of all management and decision-making functions withinGrow Management Consultants. The responsibility for the identification of risk and the implementation of control strategies and follow up remains a delegated line management responsibility.
All stakeholders have a significant role in the management of risk. This role may range from initially identifying and reporting risks associated with their own jobs to participation in the risk management process.
Objectives
Grow Management Consultantsaims to:
integrate risk management into the management culture ofGrow Management Consultants
foster an environment where staff assume responsibility for managing risks.
To secure its commitment to implement risk management effectively,Grow Management Consultantsaims to:
implement risk management across all aspects ofGrow Management Consultantsin accordance with best practice guidelines.
To secure its commitment to training and knowledge development in the area of risk management,Grow Management Consultantsaims to:
ensure that performance in risk management is a consideration in theGrow Management Consultants'performance management systems.
ensure that staff and other stakeholders have access to appropriate information.training and other development opportunities in the area of risk management.
To secure its commitment to monitoring performance and reviewing progress,Grow Management Consultantsaims to:
ensure that appropriate monitoring, review and reporting processes are in place in the area of risk management.
The objectives of risk management are to:
provide a structured basis for strategic, tactical and operational planning acrossGrow Management Consultants,enhancing itsgovernance and corporate management processes.
enableGrow Management Consultantsto effectively discharge its statutory and legislative financial management responsibilities.
provide a practical framework for managers to assess risks inherent in the decisions they take.
assist and motivate decision makers, at all levels, to make good and proactive management decisions that do not exposeGrow Management Consultantsto unacceptable levels of risk of unfavourable events occurring which adversely impact on the attainment of organisational goals.
encourage and commit decision makers to identify sound business opportunities that will benefitGrow Management Consultantswithout exposing the company to unacceptable levels of risk.
minimise the risks of not identifying sound business opportunities.
protectGrow Management Consultantsfrom unacceptable costs or lossesassociated with its operations, whilesafeguardingits resources:its people, finance, property and reputation.
assistGrow Management Consultantsin achieving its strategic objectives.
create an environment where all staff assume responsibility for risk management.
Principles
The principles of risk management shall be applied to all areas of risk exposure, insurable and non-insurable, and shall include, but not be limited to the following areas:
Insurable Risks Non-Insurable Risks
Insurable workplace health and safety risks
Insurable fraud and corruption prevention activities
Unauthorised use of resources which represent an insurable risk
Reputation and image as an insurable risk
Fire prevention measures and security precautions
Property loss and damage
Computer security
Professional negligence
Other liability exposures
Legal liability Non-insurable workplace health and safety risks
Non-insurable fraud and corruption prevention activities
Unauthorised use of resources which represent a non-insurable risk
Reputation and image as a non-insurable risk
Crisis contingency planning and disaster recovery
Accounting controls that are not cost effective
Loss of key staff and intellectual property
Management system inadequacies and poor work quality
Failure or disruption of a major income source or investment
Procedures
Corporate
Risk management is a whole of Organisation Process. Itmust first and foremost be managed at the corporate level as part ofGrow Management Consultants'good governance and corporate management processes.
This process, coordinated and facilitated by theCEO,will involve the following key steps:
an annual risk identification exercise undertaken bythe CEO. Thisinvolves assessment of the consequence and likelihood of risk, the development and/or review of individual risk management plans for the risks identified which exceed theGrow Management Consultants's defined acceptable risks
wherever practicable,the inclusion of a Risk Management Assessment for all business activities
the incorporation of risk management into strategic planning, as well asoperational and resource management planning processes
ensure risk management processes are incorporated into the quality assurance and improvement systems ofGrow Management Consultants
clearly define and document escalationprocedures for risk management
ensure a consistency in approach of responses to the same risk by different sections ofGrow Management Consultants
document all risks with a potentially high impact, as assessed on the basis of theirlikely occurrence or impact
test documented risk management procedures at appropriate intervals.
Management
Risk management is a delegated line management responsibility. It is the responsibility of all line managers to continually monitor their areas of responsibility to ensure that risks are identified and managed. Line managers should ensure that a contribution is made toGrow Management Consultantsrisk management process, on behalf of their areas of responsibility, that identifies risks at all levels.
The sharing of documented responses to risks and knowledge of risk management principles and procedures will be fostered between line managers to ensure consistency across theGrow Management Consultants.
On an annual basis, line managers should review all activities to ensure that any unacceptable risk exposures are identified and managed at an appropriate level. All operational sections will be required to report on risk management as part of theGrow Management Consultants's annual operational and resource management process.
Individual
Each employee or other stakeholder throughoutGrow Management Consultantshas a role in the risk management process and is responsible for actively participating in the risk management process as appropriate to their position within the organisation.
New Opportunities
In addition to the risks that already exist,Grow Management Consultantsis continually exposed to new risks,particularly from the introduction of new activities.
New risks should be incorporated into the initial planning and assessment processes conducted prior to undertaking the activity and, subsequently, into the annual risk management assessment at the appropriate level(s) of activity and management.A risk management plan mustthenbe developed.
PESTLE Analysis
To assist in the identification of risks, a PESTLE Analysis should always be conducted. Consider the following questions to conduct a PESTLE Analysis:
Political Factors:for each factor consider the impact on the company
When is the country's next election? How could this change government policy?
What is the currentgovernmentsapproach tobusiness policy, and on other policies that affectthe organisation?
Are there any pending legislation, regulationsor taxation changes?
Is there a trend towards regulation or deregulation?
How does government approach corporate policy, corporate social responsibility, environmental issues, and customer protection legislation?
Are there any other political factors thatneed to be considered?
Economic Factors to Consider:for each factor consider the impact on the company
Is the economygrowing, stagnating, or declining?
Are key exchange rates stable, or do they tend to vary significantly?
Are customers' levels of disposable incomestable orrising or falling?
What is the unemployment rate? Will it be easy to build a skilled workforce? Or will it be difficult to secure a skilled workforce?
Do consumers and businesses have easy access to credit?
How is globalisation affecting the economic environment?
Are there any other economic factors thatneed to be considered?
Socio-Cultural Factors to Consider:for each factor consider the impact on the company
What is the population's growth rate and age profile and how is this likely to change?
Are generational shifts in attitude likely to affect the business operations?
What are your society's levels of health, education, and social mobility? How are these changing, and what impact does this have?
What social attitudescould affect thebusiness? Have there been recent socio-cultural changes that might affect this?
How do religious beliefs and lifestyle choices affect the population?
Are any other socio-cultural factorslikely to drive change for thebusiness?
Technological Factorsto Consider:for each factor consider the impact on the company
Are there any new technologiesthat you could be used within the business to increase efficiency?
Are there any new technologies on the horizon that could radically affectthe business or theindustryas a whole?
Does technology affectwork patterns (for example, levels of remote working)and how?
Are there any other technological factors thatshould be considered?
LegalFactors to Consider:for each factor consider the impact on the company
Are there anypending legislation orregulationschanges?
Is there a trend towardsincreased ordecreasedregulation?
How does government approach customer protection legislation?
What is the climate in terms of consumer litigation?
Are there any otherlegal factorsthatneed to be considered?
Environmental Factors to Consider:for each factor consider the impact on the company
How does government approach environmental issues, including environmental protection?
What environmental legislation or regulations impact on the business?
Are there any new technologies that could be used to improve sustainability?
What are consumer attitudes to environmentalism/sustainability?
Are thereany other environmental factors thatshould be considered?
Risk Management Planning
The organisations Risk Management Plan Template should be used.
The following procedure should be followed for risk management:
Gather information about potential risksand risk treatments or controlsusing a range of risk management tools and techniques. The preferred method is brainstorming potential risks with key staff members and conducting a PESTLE analysis to identify external risks.
Confirm key risksand risk treatments or controlsto be documented in the risk management plan. For each risk, indicate the consequence of the risk e.g. loss in sales, loss in profits, business closure, lack of qualified staff, etc.
Identify key risks and document them in the risk register.
Using the risk legend within the risk management plan, assess and document the likelihood of the risk occurring.
Using the risk legend within the risk management plan, assess and document the severity of the risk occurring.
Identify and document the agreed treatment or control method for each risk.
Assign a ranking to the risk using the risk assessment legend. The ranking of the risk will determine its importance in terms of risk management.
Review
The CEO will regularly monitor and review the progress being made in developing an appropriate culture of risk management and the effective implementation of risk management strategies throughout the organisation.
Guidance
The CEO will ensure that, through its monitoring, review and reporting functions,Grow Management Consultantsmaintains a consistent approach to its assessment of acceptable risk.
Documentation
Each stage of the risk management process shall be appropriately documented. The extent of documentation required is dependent on the nature of the risk. Documentation will becontrolled andbecomepart of an auditable quality management process.
Compliance
A representation and compliance statement should be provided by each manager as formal acknowledgement of their responsibility to comply with risk management policies and procedures.
Each employee should have included intheirPosition Description a responsibility for risk management, and Annual Performance Appraisals should include an appropriate assessment thereof.
Staff Development
Management shall ensure that staff have available to them appropriate information and training opportunities in risk management as appropriate to their position and role withinGrow Management Consultants.
Program Risk Management Plan
Theprogramriskmanagementplanwill be used by theprogram manager and project managersto ensure risk control methods are included in allaspects of program management.
Definitions
The following definitions are based on the Australian and New Zealand Risk Management Standard AS/NZS 4360:2004.
Risk
The chance of something happening which will have an impact upon objectives. It is measured in terms ofconsequenceandlikelihood.
Likelihood
A qualitative description or synonym for probability or frequency.
Consequence
The outcome of an event or situation, expressed qualitatively or quantitatively, being a loss, injury,disadvantage or gain. There may be a range of possible outcomes associated with an event.
Riskassessment
The overall process of risk analysis and risk evaluation.
Risktreatment/control methods
Selection and implementation of appropriate options for dealing with risk.
Conceptually, treatment options will involve one or a combination of the following five strategies:
Avoid the risk.
Reduce the likelihood of occurrence.
Reduce the consequences of occurrence.
Transfer the risk.
Retain/accept the risk.
Risk management process
The systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risk.
Risk management procedure
Thisrisk management plan template should be used. The following procedure should be followed for risk management:
Gather information about potential risksand risk treatments or controls using a range of risk management tools and techniques.
Confirm key risks and risk treatments or controls to be documented in the risk management plan.For each risk, indicate the consequence of the risk e.g. loss in sales, loss in profits, business closure, lack of qualified staff, etc.
Identify key risks and document them in the risk register.
Using the risk legend within the risk management plan, assess and document thelikelihood of the risk occurring.
Using the risk legend within the risk management plan, assess and document the severityof the risk occurring.
Identify and document the agreed treatment or control method for each risk.
Assign a ranking to the risk using the risk assessment legend. The ranking of the risk will determine its importance in terms of risk management.
Risk Rating = Likelihood x Severity
SEVERITY
Catastrophic 5 5 10 15 20 25
Significant 4 4 8 12 16 20
Moderate 3 3 6 9 12 15
Low 2 2 4 6 8 10
Negligible 1 1 2 3 4 5
1 2 3 4 5
Improbable Remote Occasional Probable Frequent
LIKELIHOOD
Risk assessment legend on following page.
Risk assessment legend
Catastrophic STOP
Unacceptable URGENT
Undesirable ACTION
Acceptable MONITOR
Desirable NO ACTION
Risk register
See risk management procedure.
You must document at least five risksand treatment measures.
Evaluate each risk as to whether it is high, medium or low priority and assign an order for treating risks.
Scope of assessment: Critical success factors: Internal & external stakeholders: Risk Consequences Severity Rating Likelihood Rating Treatment or control methods Priority rating (high, medium or low)
Risk action plan
Each of the risks identified above should be included in the table below and actions shown. The table should be copied and pasted for each risk.
Description of risk Summary of recommended response and impact Proposed actions Resource requirements Responsibilities Timing Reporting/Monitoring Description of risk Summary of recommended response and impact Proposed actions Resource requirements Responsibilities Timing Reporting/Monitoring Mentoring Plan
Mentor name: Mentee name: Mentee goals: Practical steps to achieve this (for each goal) Goal Actions
Meeting schedule for upcoming six months and summary of what is to be covered: Schedule of Meetings: Signature of Mentee: Signature of Mentor: Date: Date:
Job description template
Department:
Location:
Job title:
Report to:
Leve/Grade Type of position Hours __________/week
Senior management
Management
Support staff Fulltime
Parttime
Contractor
Casual General job description
Add job description requirements here.
Work experience required
Add required work experienced here.
Skills required
Describe skill required here.
Education requirements
Add education requirements here.
4552950-125426STUDENT ASSESSMENT TASKS
020000STUDENT ASSESSMENT TASKS
-10311543166247Student Assessment Tasks
BSBPMG632 Manage program riskStudent Assessment Tasks
BSBPMG632 Manage program risk05919470MANAGE PROGRAM RISK
00MANAGE PROGRAM RISK
05212008BSBPMG632
020000BSBPMG632
Contents
TOC h z t "RTO Works Heading 1,1" Introduction PAGEREF _Toc74211497 h 4Assessment Task 1: Knowledge questions PAGEREF _Toc74211498 h 5Assessment Task 1: Checklist PAGEREF _Toc74211499 h 7Assessment Task 2: Project Portfolio PAGEREF _Toc74211500 h 8Assessment Task 2: Checklist PAGEREF _Toc74211501 h 17Final results record PAGEREF _Toc74211502 h 22
IntroductionThe assessment tasks for BSBPMG632 Manage program risk are outlined in the assessment plan below. These tasks have been designed to help you demonstrate the skills and knowledge that you have learnt during your course.
Please ensure that you read the instructions provided with these tasks carefully. You should also follow the advice provided in the Business Works Student User Guide. The Student User Guide provides important information for you relating to completing assessment successfully.
Assessment for this unit
BSBPMG632 Manage program risk describes the skills and knowledge required to establish parameters and enable a program to be undertaken effectively. It includes establishing both what the program will accomplish and how it will do so.
For you to be assessed as competent, you must successfully complete two assessment tasks:
Assessment Task 1: Knowledge questions You must answer all questions correctly.
Assessment Task 2: Project You must work through a range of activities and complete a project portfolio.
Assessment Task 1: Knowledge questions
Information for studentsKnowledge questions are designed to help you demonstrate the knowledge which you have acquired during the learning phase of this unit. Ensure that you:
review the advice to students regarding answering knowledge questions in the Business Works Student User Guide
comply with the due date for assessment which your assessor will provideadhere with your RTOs submission guidelinesanswer all questions completely and correctly
submit work which is original and, where necessary, properly referenced
submit a completed cover sheet with your workavoid sharing your answers with other students.
ii Assessment information
Information about how you should complete this assessment can be found in Appendix A of the Business Works Student User Guide. Refer to the appendix for information on:
where this task should be completed
the maximum time allowed for completing this assessment taskwhether or not this task is open-book.
Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix C of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that.
Questions
Provide answers to all of the questions below:
Explainthe purpose of risk management standards. Include an example of a risk management standard in your answer.
Explainthe AS/NZS ISO 31000:2009Risk Management Principles and Guidelines and each of the 11 principles.
Explainthe purpose of risk management policies and procedures in the workplace.
Outline a step-by-step procedurethat companies can use for analysing risks.
Describe three examples of tools or techniques that a company could use to identify risks as part of a risk assessment process.
Explainthe concept of a dynamic risk register and its useacross a program.
Assessment Task 1: Checklist
Students name:
Did the student provide a sufficient and clear answer that addresses the suggested answer for the following? Completed successfully? Comments
Yes No Question 1 Question 2 Question 3 Question 4 Question 5 Question 6 Task outcome: Satisfactory Not satisfactory
Assessor signature: Assessor name: Date:
Assessment Task 2: Project PortfolioInformation for studentsIn this task, you are required to demonstrate your skills and knowledge by working through a number of activities and completing and submitting a project portfolio.
You will need access to:
a suitable place to complete activities that replicates a business environment including a meeting space and computer and internet access
your learning resources and other information for reference
Project Portfolio template
Simulation Pack (if using the case study)
if basing this on your own business, you need access to:
information about:
the organisation and program as a whole (e.g. strategic plan)
the organisations risk management processes (e.g. risk management policies and procedures)
program progress (showing at least two challenges/variances that pose a risk)
program outcomes
program stakeholders (for consultation, feedback and mentoring).
Ensure that you:
review the advice to students regarding responding to written tasks in the Business Works Student User Guide
comply with the due date for assessment which your assessor will provideadhere with your RTOs submission guidelinesanswer all questions completely and correctly
submit work which is original and, where necessary, properly referenced
submit a completed cover sheet with your workavoid sharing your answers with other students.
ii Assessment information
Information about how you should complete this assessment can be found in Appendix A of the Business Works Student User Guide. Refer to the appendix for information on:
where this task should be completed
how your assessment should be submitted.
Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix B of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that.
Activities
Complete the following activities:
Carefully read the following:
This project requires you to identify, plan, manage and evaluate program risks that may impact the program outcomes or organisational objectives.
You can do this for a real program at your workplace if this is relevant to you, or you can use the Simulation Pack provided for this unit.
If you use your own business, make sure it has sufficient information (as described in the green boxes throughout the instructions) already established. The program you manage should allow for unpredictable variables (such as staff re-allocation or budget changes) and should include a level of complexity that requires experienced management. Speak to your assessor to get approval if you want to base this on your own business.
Vocational education and training is all about gaining and developing practical skills that are industry relevant and that can help you to succeed in your chosen career. For this reason, basing your project on real relationships with classmates or work colleagues will mean that you are applying your knowledge and skills in a relevant, practical and meaningful way!
You will be collecting evidence for this unit in a Project Portfolio. The steps you need to take are outlined below. Before you begin, complete page 4 of your Project Portfolio.
Start working on Section 1 of your Project Portfolio. Steps 2 to 5 form part of Section 1.
If you are basing this assessment on the case study, refer to the information provided in the Simulation Pack to complete this section.
If you are basing this assessment on your own business, you need access to information about:
the organisation and program as a whole (e.g. strategic plan)
the organisations risk management processes (e.g. risk management policies and procedures).
You will also consult with stakeholders and mentor one stakeholder.
Prepare for program risk management.
First, access information about your chosen organisation as it relates to the program you will manage and its objectives (e.g., a Company Information document, Strategic Plan etc.). Summarise and analyse the information to ensure you understand the context of the organisation and where it wants to be.
Next, identify at least two stakeholders who will be associated with managing the risk of the program. These stakeholders should have a diverse background (e.g. different genders, ages, cultures, abilities etc.). Then, identify at least three examples of when communication with the stakeholders is required during the risk management process, explain why the communication is important and then select at least three different methods that may be used for the communication.
Finally, organise, develop and document your ideas about:
potential program risks (identify potential, actual and residual risks).
the current risk management approach.
an ideal program risk methodology (based on the current risk managementapproach) to address the identified risks.
how risk management can be integrated across the program and assigned to relevant people for their timely management (e.g. by including risk management in regular team meetings or saving the risk management documentation in a cloud-based location for easy access and use).
the timing for when risks are monitored and assessed across the program.
ii You will use the information summarised in this step to prepare discussion points for a meeting you will have with program risk management stakeholders (in step 4).
Read through step 3 before preparing discussion points (using the work youve done in this assessment so far) for a meeting with other stakeholders.
Consult with stakeholders regarding program risk management planning.
Meet with at least two relevant stakeholders (identified in step 2) to:
explain program risk managementand agree on the proposed risk management approach.
agree on the timing for when risks are monitored and assessed across the program.
identify potential program risksandanalysetheir impact on the organisation.
ii The stakeholders you meet with should be diverse and have at least one competing demand (e.g. timing for when risks are monitored and managed).
As you lead the meeting, keep in mind that your discussions are in preparation for documenting risk management in a Risk Management Plan. Take notes for future reference.
Your meeting should take 20 minutes. This will either be attended in person by your assessor or they will attend online. If your assessor is unable to view the meeting at the time, video record the session for your assessor to watch later (attach proof to Section 1 of your Project Portfolio). Your assessor can provide you with more details at this step. Make sure you follow the instructions above and meet the timeframes allocated.
During the meeting, you are required to demonstrate effective communication and negotiation skills including:
speaking clearly and concisely
using detailed language to provide information
asking questions to identify required information
using active listening techniques to confirm understandingusing appropriate protocols and conventions (e.g., greeting, handshake, eye contact, politeness etc.) when sharing and seeking information.
Develop a Risk Management Plan.
You are required to develop a Risk Management Plan for the program.
ii Your Risk Management Plan must incorporate the meeting outcomes. It should also contain clear and accurate information to allow all stakeholders across the program to effectively and uniformly communicate risks, consequences, controls and treatments.
The identified risks should have a high impact on the program objectives (e.g. loss in staff could mean poor customer service) and the actions proposed for risk control or treatment should be complex (i.e. require skilled intervention).
You may use the template provided in the Simulation Pack, or any other template required by your organisation.
Use business language in an appropriate format and structure. You will be assessed on this.
Draft an email to all the stakeholders who attended the meeting to share your Risk Management Plan with them and confirm their approval. In your email:
explain that you have included all agreed outcomes from the stakeholders meeting in the plan.
confirm that risk management is integrated across the program and is transparent and timely (explain how risks have been assigned and how/when they should be addressed).
confirm that all stakeholders are aware of the expectations and responsibilities.
request that stakeholders commence their responsibilities.
confirm that stakeholders will monitor and assess the risks assigned to them at the intervals agreed to at the stakeholder meeting.
ii Assume that the Risk Management Plan is attached to the email.
Use business language in an appropriate format and structure. You will be assessed on this.
Mentor and support a staff member.
First, develop a mentoring plan for one of the project managers of a project in the program for the upcoming 6 months. The aim of the mentoring is to support the project manager in analysis, evaluation and treatment of risks.Select activities that address these concepts.
ii As a minimum, your plan should include details of the mentoring arrangement, time period, number of meetings during the period and activities to be completed, as well as expectations.Use the Mentoring Plan Template in the Simulation Pack to guide your work.
Plan for your first mentoring session that addresses one of the aspects of analysing, evaluating and treating risks. Also identify at least two activities that the project manager can complete to develop his risk management skills following the session (e.g. research industry best-practices for risk treatment etc.).
Meet with the project manager to discuss the plan and provide a first mentoring session.
ii Make sure the project manager has a copy of the mentoring plan (either printed or digital).
Your mentoring session should take 20 minutes. This will either be attended in person by your assessor or they will attend online. If your assessor is unable to view the session at the time, video record the session for your assessor to watch later (attach proof to Section 1 of your Project Portfolio). Your assessor can provide you with more details at this step. Make sure you follow the instructions above and meet the timeframes allocated.
If you are basing this assessment on a busines of your choice, you may mentor an actual person in the business, or you may request a role-play participant in a simulated environment. Speak to your assessor for further information.
If you are basing this assessment on the case study, you will provide the mentoring session to your assessor (playing the role of Dan).
During the mentoring, you are required to demonstrate effective communication skills including:
speaking clearly and concisely
using detailed language to provide information
asking questions to identify required information
using active listening techniques to confirm understandingusing appropriate protocols and conventions (e.g., greeting, handshake, eye contact, politeness etc.) when sharing and seeking information.
Make sure you have answered all questions in Section 1.
You are required to attach certain documents as part of your evidence review the documents you need to attach as outlined in Section 1 of the Project Portfolio.
Submit Section 1 to your assessor.
Start working on Section 2 of your Project Portfolio. Steps 6 to 7 form part of Section 2.
Assume that a period of time has passed and the program is running. It is now the time (as agreed in at the stakeholder meeting in step 3) to monitor and assess risk.
If you are basing this assessment on the case study, refer to the information provided in the Simulation Pack to complete this section.
If you are basing this assessment on your own business, you need access to information about program progress (e.g. emails from project managers, survey results, customer feedback etc.). The program progress should indicate at least two challenges/variances that pose a risk.
Identify variances to program outcomes and analyse potential risk responses.
First, draft an email to relevant program stakeholders requesting program updates. In your email, also confirm that the stakeholders have been monitoring the risks according to the time interval agreed at the initial stakeholder meeting.
ii Use business language in an appropriate format and structure. You will be assessed on this.
Review the program progress and identify any variances that have resulted in risk.
ii You must identify at least two program variances that have actuated risks.
Analyse the variances (using impact analysis) to determine the impact of the variance over time and what should be done to correct the impact of the variance.
ii Your proposed risk responses should support achieving the program objectives and adhere to the responses agreed to in the Risk management Plan.
Have different responses for each variance.
Initiate risk responses to achieve program objectives.
Draft an email to a relevant decision-maker (e.g. CEO) to request their authorisation for the risk responses to be actioned. In your email, explain the variances in program outcomes that have resulted in a need for remedial action. Then, explain which actions should be implemented to respond to the risks.
ii Use business language in an appropriate format and structure. You will be assessed on this.
Assume that the actions have been approved.
Respond to stakeholders who provided input on the program progress (as per your email in step 6). Draft an email to explain the response to any variances identified.
ii Depending on the nature of your business and program, you may need to draft separate emails to different stakeholders.
Initiate responses to address the two variances.
ii Risk responses can be initiated for example by:
submitting an insurance claim
organising training
conducting a Workplace Health and Safety check.
If you are basing this assessment on the case study, you are required to:
develop a client questionnaire that can be used to measure client expectation and satisfaction.
develop a job description for a program administrator (using the template provided in the Simulation Pack).
Update the Risk Management Plan to include details of the risks being treated.
Make sure you have answered all questions in Section 2.
You are required to attach certain documents as part of your evidence review the documents you need to attach as outlined in Section 2 of the Project Portfolio.
Submit Section 2 to your assessor.
Start working on Section 3 of your Project Portfolio. Steps 8 and 9 form part of Section 3.
Assume that the projects part of the program have been completed.
If you are basing this assessment on the case study, refer to the information provided in the Simulation Pack to complete this section.
If you are basing this assessment on your own business, you need access to information about:
Program outcomes (including one residual risk)
Feedback on risk management processes.
Analyse the program outcomes and assess the risk management process.
Create a survey to seek feedback from a variety of program stakeholders on the risk management processes.
ii You may assume that the survey has been sent to the stakeholders (e.g. via social media or email).
Review and analyse the program outcomes then evaluate the overall risk management process.
Identify and document residual risk.
Identify at least one residual risk at project completion. Update the Risk Management Plan to include details of the risk. Also use review comment functionality to document lessons learned for future program risk management.
Draft an email to a relevant program stakeholder (e.g. the CEO) to:
respond to the feedback they provided via the survey (e.g. thank them)
document the risk-management outcomes
explain the residual risk and transfer liability for the risk.
ii Use business language in an appropriate format and structure to suit the audience. You will be assessed on this.
Submit your completed Project Portfolio
Make sure you have completed all sections of your Project Portfolio, answered all questions, provided enough detail as indicated and proofread for spelling and grammar as necessary.
Submit to your assessor for marking.
Assessment Task 2: Checklist
Students name:
Did the student: Completed successfully? Comments
Yes No Prepare for program risk management by:
accessing information about their chosen organisation as it relates to the program they will manage and its objectives
summarising and analysing the information to ensure they understand the context of the organisation and where it wants to beidentifying at least two stakeholders who will be associated with managing the risk of the programidentifying at three examples of required stakeholder communication
explaining why the communication is important
selecting at least three different methods that may be used for the communicationorganising, developing and documenting their ideas about:
potential program risks (identify potential, actual and residual risks)
the current risk management approach
an ideal program risk methodology (based on the current risk managementapproach) to address the identified riskshow risk management can be integrated across the program and assigned to relevant people for their timely management (e.g. by including risk management in regular team meetings or saving the risk management documentation in a cloud-based location for easy access and use)
the timing for when risks are monitored and assessed across the program? Meet with at least two relevant diverse stakeholders (with one competing demand) to:
explain program risk management
agree on the proposed risk management approachagree on the timing for when risks are monitored and assessed across the programidentify potential program risksandanalysetheir impact on the organisationdemonstrate effective communication skills including:
speaking clearly and concisely
using detailed language to provide information
asking questions to identify required information
using active listening techniques to confirm understandingusing appropriate protocols and conventions when sharing and seeking information? Develop a Risk Management Plan that incorporates meeting outcomes and contains clear and accurate information to effectively and uniformly communicate risks, consequences, controls and treatments? Draft an email to all the stakeholders who attended the meeting to share their Risk Management Plan with them and confirm their approval. The email includes:
explanation that they have included all agreed outcomes from the stakeholders meeting in the planconfirmation that risk management is integrated across the program and is transparent and timely
confirmation that all stakeholders are aware of the expectations and responsibilitiesrequest that stakeholder commence their responsibilitiesconfirmation that stakeholders will monitor and assess the risks assigned to them at the intervals agreed to at the stakeholder meeting? Develop a Mentoring Plan that includes details of the mentoring arrangement, time period, number of meetings during the period and activities to be completed, as well as expectations? Provide one mentoring session as per their mentoring plan and demonstrate effective communication skills including:
speaking clearly and concisely
using detailed language to provide information
asking questions to identify required information
using active listening techniques to confirm understandingusing appropriate protocols and conventions when sharing and seeking information? Identify variances to program outcomes and analyse potential risk responses including:
drafting an email to relevant program stakeholders requesting program updates and also confirming that the stakeholders have been monitoring the risks according to the time interval agreed at the initial stakeholder meetingreviewing the program progress and identifying any variances that have resulted in riskanalysing the variances (using impact analysis) to determine the impact of the variance over time and what should be done to correct the impact of the variance? Initiate two risk responses to achieve program objectives including:
drafting an email to a relevant decision-maker to request their authorisation for the risk responses to be actionedresponding to stakeholders who provided input on the program progress by draft an email to explain the response to any variances identifiedinitiating responses to address the two variancesupdate the Risk Management Plan to include details of the risks being treated? Analyse the program outcomes and assess the risk management process including:
creating a survey to seek feedback from a variety of program stakeholders on the risk management processesreviewing and analysing the program outcomes
evaluating the overall risk management process? Identify and document residual risk by:
updating the Risk Management Plan to include details of the residual riskusing review comment functionality to document lessons learned for future program risk managementdraft an email to a relevant program stakeholder to:
respond to the feedback they provided via the survey
document the risk-management outcomes
explain the residual risk and transfer liability for the risk? Task outcome: Satisfactory Not satisfactory
Assessor signature: Assessor name: Date:
Final results recordStudent name: Assessor name: Date Final assessment results
Task Type Result
Satisfactory Unsatisfactory Did not submit
Assessment Task 1 Knowledge questions S U DNS
Assessment Task 2 Project Portfolio S U DNS
Overall unit results C NYC Feedback
My performance in this unit has been discussed and explained to me.
I would like to appeal this assessment decision.
Student signature: Date:
I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures.
Assessor signature: Date:
Questions
Provide answers to all of the questions below:
Explainthe purpose of risk management standards. Include an example of a risk management standard in your answer.
Explainthe AS/NZS ISO 31000:2009Risk Management Principles and Guidelines and each of the 11 principles.
Explainthe purpose of risk management policies and procedures in the workplace.
Outline a step-by-step procedurethat companies can use for analysing risks.
Describe three examples of tools or techniques that a company could use to identify risks as part of a risk assessment process.
Explainthe concept of a dynamic risk register and its useacross a program.
Contents
TOC o "1-3" h z t "RTO Works Heading 1,1" Section 1: Establish and support program risk management PAGEREF _Toc74212110 h 6Section 2: Manage program risk PAGEREF _Toc74212111 h 10Section 3: Evaluate risk management processes PAGEREF _Toc74212112 h 13
Student name: Assessor: Date: Business this assessment is based on: Program description (including associated projects) and program objects:
Section 1: Establish and support program risk management
Summarise information about your chosen organisation as it relates to the program you will manage (including the desired outcomes)
Attach proof of any relevant documentation to this section of your portfolio (e.g. Section from the Strategic plan). Identify stakeholdersWhich stakeholders are associated with managing the risk of the program?
How are they associated with the risk management process? Identify communication requirementsProvide three examples of when communication with stakeholders may be required across the program to manage risk.
Why is the communication important for risk management?
Select three appropriate methods that may be used for the communication. Document initial ideas about the program risk management
What are potential program risks?
What is the current risk management approach (e.g. according to existing policies and procedures)?
Describe an ideal program methodology to address the risks.
How should risk management be integrated across the program?
When should risks be monitored and assessed across the program?
Attach any existing risk approach information to this section of the portfolio (e.g. risk management policy and procedures). Prepare discussion points for a meeting with other stakeholders Summarise your meeting with stakeholders
Who attended the meeting?
Explain how the stakeholders were diverse (e.g. different gender, ages, cultural, ability, role etc.).
What did you discuss and agree on?
Attach proof of your stakeholder meeting (unless already viewed in person by your assessor). Develop a Risk Management Plan
You must document and analyse at least five risksand treatment measures.
Also prioritise each risk and assign an order for treating risks.
Attach your plan to this section of your portfolio. Draft an email to share your Risk Management Plan with stakeholdersAttach your draft email to this section of the portfolio. Create a Mentoring Plan for one project Manager.
Attach your Mentoring Plan to this section of the portfolio.
Attach proof of your mentoring session to this section of the portfolio (unless already viewed in person by the assessor). 61859414351000 Attach: Organisational documentation
Proof of your stakeholder meeting (if relevant)
Existing risk approach information to this section of the portfolio (e.g. risk management policy and procedures)
Risk Management Plan
Draft email to share the plan
Mentoring Plan
Mentoring session (if relevant)
Section 2: Manage program riskDraft an email to relevant program stakeholders requesting program updatesAttach your draft email to this section of the portfolio. Summarise program progressHow have projects in the program progressed?
Identify at least two different variances to desired outcomes that have actuated risks. Perform impact analysis for each identified varianceWhat is the impact of the variance over time?
How does the variance impact the program objectives?
What should be done to correct the impact of the variance (what remedial action is required)? Request authorisation for the risk responses to be actionedAttach your draft email to this section of the portfolio. Respond to stakeholder responses to your request for a progress update by drafting an emailAttach your draft email to this section of the portfolio. Initiate a risk response for each varianceAction the authorised remedial actions.
Attach proof of how you initiated a risk response for each variance.
Attach proof of your updated Risk Management Plan.
61859414351000 Attach: Draft email requesting program updates
Draft email requesting authorisation
Proof of risk response 1
Proof of risk response 2
Updated Risk Management Plan
`
Section 3: Evaluate risk management processesSeek feedback about risk management outcomes from program stakeholders by creating a surveyAttach your survey to this section of your portfolio. Analyse program outcomes
What was achieved?
Were the objectives met?
What went wrong?
What was successful? Evaluate the overall risk management process
Make sure you answer from your own personal experience during this assessment.
Was it easy or difficult to identify risks?
Was staff input (at the meeting) helpful?
How confident are you that all program risks have been identified?
Consider whether the process indicated in the current Risk Management Policy and Procedures is sufficient to guide the risk management process for program management. Explain why or why not.
Explain whether the principles of risk management in the risk management policy and procedure is consistent with AS/NZS ISO31000:2009 Risk Management Principles and Guidance.
Whatchangeswould you recommend to the risk management processand to assist program management outcomes and lessons learned for other programs?
What lesson have you learned for future risk management? Update Project management Plan to document residual riskWhat residual risk exists (at least one)?
Add review comments to the plan to document lessons learned.
Highlight any changes.
Attach your updated Project management Plan to this section of the portfolio. Draft an email to respond to feedback, document risk-management outcomes and transfer liability for the riskAttach the draft email to this section of the portfolio.
61859414351000 Attach: Survey
Updated Project management Plan
Draft email to respond to feedback etc.
