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PROJ6003 Assessment 2 Risk Management

ASSESSMENT BRIEF
Subject Code and Title	PROJ6003 Project Execution and Control
Assessment	Assessment 2: Risk Management (2 parts) Part A: Module 4-5 Discussion Forum Part B: Risk Management
Individual/Group	Part A: Individual Part B: Individual/groups
Length	Part A: 850 words Part B: 1500 words/student
Learning Outcomes	2. Critically analyse project risks and develop a range of strategies to effectively manage those risks in order to ensure expected project management outcomes.
Submission	Part A: The post to be completed by end of Module 5. Part B: By 11:55pm AEST/AEDT Sunday first half of Module 6.
Weighting	50% (Part A: 15%; Part B: 35%)
Total Marks	Part A: 15 marks Part B: 35 marks

Context:

As project work is executed, project managers make certain that quality assurance is conducted and quality is controlled. Quality assurance consists of the activities that are undertaken to ensure that a project uses the processes needed to meet quality requirements. Meanwhile, quality control entails monitoring specific project results to determine whether they meet relevant quality standards, which have been defined with the project scope.

Planning for risk management involves determining how to approach, plan and execute the various activities required for managing project risks. Because new risks may be introduced at any point in the project management life cycle, risk management is a continuous process. It begins at the project-planning phase and continues throughout the project-execution phase.

Effective communication is a key factor for managing project execution. However, project managers may face challenges as they communicate with their teams and other project stakeholders. Other factors such as developing, leading and managing project team members

are also critical for successfully achieving project goals.

Instructions:

This assessment has two parts: a post (Part A) and a Risk Management report (Part B)

Part A: Module 4-5 Discussion Forum

Each student will construct a post in approximately 850 words to the following questions and post on the Module discussion forums by the end of Module 5. Students will be graded individually on how students demonstrate/share theories and contribute to the general discussion of the topic within the group over weeks 7, 8 & 9.

Module 4-5 Topic: Project Status Reporting

Identify effective status reports used in project management. Discuss the challenges and pitfalls of different status reports. Explain the difference between the status reports provided for teams, sponsors, and steering committee. Considering the given case study, how might these reports be applied?

Output:

Module 4-5 discussion - provide a post by the end of Module 5.

Expert's Answer

The project executions requires the organisation to involve all the relevant stakeholders from teams to clients to be informed on the project. Project status reports are essential to inform the relevant stakeholders initially before the project produces some tangible deliverables.