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Elements and Performance Criteria

1. Assist with risk analysis and planning
   • Identify project deliverables, objectives and resources
   • Identify and prioritise potential and actual risks of project, and advise project manager
   • Establish with relevant personnel risk-analysis methods, techniques and tools
   • Contribute to developing risk management strategies, approaches and plans according to organisational policies and procedures
   • Contribute to developing and implementing risk-reporting mechanisms
2. Review risks and execute risk-control activities
   • Monitor actual and potential risks according to agreed project and risk management plans and advise project manager of changing circumstances
   • Identify opportunities and changing environment for project activities, and advise project manager
   • Contribute to amending project and risk management plans and confirming plans reflect the changing environment
   • Contribute to reporting opportunities for risk control
3. Develop contingency plan
   • Contribute to corrective action on risks according to risk management plan and delegated authority
   • Contribute to review of contingency plans on an ongoing basis
   • Confirm tasks allocated to individuals and teams are agreed with supervisor before implementation
   • Apply and monitor risk-contingency measures
4. Contribute to assessing risk management outcomes
   • Contribute to ongoing review of project outcomes and determine effectiveness of risk management activities
   • Seek feedback and identify risk management issues
   • Report risk management issues and responses to relevant stakeholders
   • Make changes to project management techniques based on feedback received

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

apply project risk management techniques during at least two different projects.

In the course of the above, the candidate must:

assist project manager in identifying and prioritising potential risks and developing risk-management strategies, plans and reporting mechanisms

apply, monitor and review risk-control measures, including contingency measures to mitigate risks

evaluate, review and report on risk-management processes and make recommendations for future improvements.

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Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

risk-analysis methods, techniques and tools, including:

risk management strategies, plans and approaches

risk-reporting mechanisms for projects

collection methods for project risk records and other information according to organisational policies and procedures

risk-contingency measures.

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