- BSBPMG508A - Manage project risk
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners
BSBPMG508A Mapping and Delivery Guide
Manage project risk
Version 1.0
Issue Date: June 2024
Qualification | - |
Unit of Competency | BSBPMG508A - Manage project risk |
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Description | This unit describes the performance outcomes, skills and knowledge required to manage risk within a project to avoid adverse effects on project outcomes. It covers determining, monitoring and controlling project risks, and assessing risk management outcomes.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement. | ||
Employability Skills | This unit contains employability skills. | ||
Learning Outcomes and Application | This unit applies to an individual who is clearly and solely responsible for the management and leadership of a complex project, either as an employee of an organisation or an external consultant.In the context of this unit a complex project is defined as a project which involves:the need for a comprehensive and multi faceted project planthe need for a formal internal or external communications strategya dedicated and diverse project budgetmultiple administrative componentsmultiple operational componentsa wide range of stakeholdersa project operations team.The functions performed by a program manager to manage risk within multiple projects are addressed in BSBPMG608A Direct risk management of a project program. | ||
Duration and Setting | X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting. |
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Prerequisites/co-requisites | |||
Competency Field | Management and Leadership - Project Management |
Development and validation strategy and guide for assessors and learners | Student Learning Resources | Handouts Activities |
Slides PPT |
Assessment 1 | Assessment 2 | Assessment 3 | Assessment 4 | |
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Elements of Competency | Performance Criteria | |||||||
Element: Determine project risks |
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Element: Monitor and control project risks |
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Element: Assess risk management outcomes |
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Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: demonstrated evidence of effective risk management for multiple complex projects knowledge of risk management techniques, strategies and tools. |
Context of and specific resources for assessment | Assessment must ensure: access to workplace risk management documentation consideration of feedback from project stakeholders as to how risks were managed. |
Method of assessment | A range of assessment methods should be used to assess practical skill and knowledge. The following examples are appropriate for this unit: direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate oral or written questioning to assess knowledge of the risk management framework analysis of responses in addressing case studies and scenarios which present project scope management issues and problems review of risk management plans evaluation of monitoring of progress against project plans assessment of identified and documented risk issues and recommended improvements. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: other units in the Diploma of Project Management. |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
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Required skills |
literacy skills to write risk management plans problem-solving skills to control risks lateral thinking skills to identify risks planning and organisational skills to monitor project progress analytical skills to review project outcomes in terms of risk management. |
Required knowledge |
risk management framework risk management techniques, tools and approaches. |
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
Risks may be: | actual likely/probable perceived potential |
Risk management techniques and tools may include: | calling upon personal experience and/or subject matter experts conducting or supervising qualitative and/or quantitative risk analysis, such as schedule simulation, decision analysis, contingency planning and alternative strategy development using specialist risk analysis tools to assist in the decision making process |
Delegated authority refers to planning and activities that may: | be conducted routinely or as changing circumstances dictate be done independently within broad guidance or by taking the lead of a team involve consultation with other project members, teams and internal stakeholders involve the selection, use and supervision of appropriate risk management methods, tools and techniques |
Risk management processes and procedures may include: | communication with stakeholders, dispute resolution and modification procedures implementation of risk control trigger mechanisms measurement of actual progress against planned milestones recording and reporting of major variance setting key milestones at significant points during the project and at completion |
Recommended responses to variations may be made: | in consultation with project team members, section heads, project manager and stakeholders independently or with higher project authority endorsement if necessary regularly throughout the project life cycle taking into account internal organisational change and external environmental change |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
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Identify, document and analyse risks, in consultation with stakeholders and higher project authority, as the basis for risk planning | |||
Use established risk management techniques and tools, within delegated authority, to analyse risks, assess options and recommend preferred risk approaches | |||
Develop risk management plans, secure agreement of stakeholders and communicate plans to ensure clarity of understanding and ongoing management of risk factors | |||
Establish designated risk management processes and procedures to enable effective management and communication of risk events, responses and results | |||
Manage project in accordance with established project and risk management plans to ensure a common approach to the achievement of objectives | |||
Monitor progress against project plans to identify variances and recommend responses to a higher project authority for remedial action | |||
Implement agreed risk responses and modify plans to reflect changing project objectives in an environment of uncertainty | |||
Review project outcomes to determine effectiveness of risk management processes and procedures | |||
Identify and document risk issues and recommended improvements, and pass on to higher project authority for application in future projects |
Forms
Assessment Cover Sheet
BSBPMG508A - Manage project risk
Assessment task 1: [title]
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
Student signature:
Result: Competent Not yet competent
Feedback to student
Assessor name:
Signature:
Date:
Assessment Record Sheet
BSBPMG508A - Manage project risk
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent
Assessor name:
Signature:
Date:
Student signature:
Date: