Application
This unit describes the skills and knowledge required to manage risks that might affect program deliverables and organisational objectives. It covers directing the planning and management of program risks, managing risks to the overall program and assessing risk management outcomes for the program and the organisation.
The unit applies to individuals who are program managers, managing or directing a suite of projects (a program) and/or senior project managers.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Elements and Performance Criteria
1. Direct planning of program risk management | 1.1 Identify potential, actual and residual risks 1.2 Select and modify program risk methodology to match the context for risk 1.3 Consult with relevant stakeholders and identify, document and analyse program level risks 1.3 Support and mentor project managers in the analysis, evaluation and treatment of risks 1.4 Confirm risk management is transparent and dynamic across the program so that risks are assigned and managed in a timely manner 1.5 Develop and maintain a program risk-management system for effective management and communication of risks, controls, treatments and outcomes to stakeholders across the program |
2. Manage program risk | 2.1 Direct management of the program in accordance with agreed program risk-management plans 2.2 Review progress, analyse variance and initiate risk responses to achieve program objectives in dynamic risk environments 2.3 Confirm risks are monitored and assessed across the program at agreed intervals 2.4 Direct response to actuated program risk and confirm remedial actions are authorised with impact analysis according to program objectives |
3. Assess program risk-management outcomes | 3.1 Identify and document program residual risk and communicate to stakeholders any transferred liability at program completion 3.2 Review and analyse program outcomes to assess the effectiveness of the risk-management methodology 3.3 Seek feedback and respond to relevant stakeholders on risk management 3.4 Analyse, document and recommend lessons learned for application in other programs |
Evidence of Performance
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:
manage program risk on at least one occasion.
In the course of above, the candidate must:
direct the planning of program risk management, including:
assessing and selecting risk methods to suit risk context
directing identification, documentation and analysis of risks as basis for planning
directing, supporting and mentoring project managers in analysing, evaluation and treatment of risks
confirming risk management is transparent and timely
developing and maintaining a risk management system across the program
manage program risk, including:
managing the program
reviewing progress, analysing variance and initiating risk responses
confirming risks are assigned and monitored across the program at agreed intervals
assessing issues are for impact and remedial actions
assess project and program risk-management outcomes, including:
identifying and documenting residual risk
reviewing and analysing program risk outcomes
documenting, analysing and recommending lessons learned
respond to risk within complex programs that are subject to unpredictable contextual pressures.
Evidence of Knowledge
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:
the use of risk management tools, frameworks, systems, methodologies and standards
the use of a dynamic risk register across a program.
Assessment Conditions
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry
This includes access to:
workplace risk management documentation
feedback from program stakeholders as to how risks were managed.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
Foundation Skills
Reading | Applies appropriate strategies to construct meaning from complex texts |
Writing | Documents results of consultations clearly and accurately to inform risk-management planning Documents risk-management outcomes using format and terminology appropriate to the audience |
Oral Communication | Participates in verbal exchanges using clear and detailed language and appropriate features, to provide relevant information Uses active listening and questioning techniques to confirm understanding |
Teamwork | Identifies requirements of important communication exchanges, selecting appropriate channels, format and content to suit purpose and audience |
Planning and organising | Develops systems and plans for complex, high impact activities that involve a diverse range of stakeholders with potentially competing demands Sequences and schedules complex activities, monitors implementation, and adjusts activities or resources as required Reviews outcomes considering results from a range of perspectives and identifying key concepts and principles that may be adaptable to future situations |
Sectors
Business Competence – Project Management