Assessment 2 - Sample of structure and content (1)-converted
Risk Assessment Report
Assessment 2 – Part B
Team members | Student Ids | Courses
Learning facilitato
Date
Executive Summary
In a ES, one should allow the reader to quickly understand all the information in the report without having
to read the entire report.
It should be in the same order as presented in the work.
Purpose / Aim of the work
Methodology and techniques used to conduct this work
Limitations and Findings should be summarised and requesting approval to proceed, if applicable.
Provide recommendations, if applicable
Table of contents
1. Introduction 1
2. Risk identification 2
3. Risk assessment 3
3.1. Probability & Impact Matrix 3
4. Risk response 5
5. Risk communication Strategy 6
6. Conclusion 9
References 10
Appendix 11
(with the Complete Risk Register)
1. Introduction
General Statement
Background of the Case Study and Context of what it is being discussed:
You can use this introduction to explain what Risk Management is about, what’s the process? This will
support what you will be delivering in this assessment.
Outlines the direction and each session of the report
Usually a page long – do not create subheadings here
2. Risk identification
Use this part to explain what Risk Identification is.
How is the process? Key components? Outputs?
You can provide the Categories used for the risk management, eg;
Provide the initial stage of your risk register with detailed description of risks (cover root-causes/effects on
the project). Example below:
Table 1 – ……..
Risk
Identification
ID CATEGOR
Y
TYPE RISK NAME Risk Description
1 Technical Negative Re-engineering
Risk incidence is related with lack of control over change
incorporation requests into piping and instrumentation
diagram (P & ID), thus some connections among pipes and
equipment (pump, tu
ine, reactor, etc) probably will be
incompatible in some parts of the plant.
2 Completio
n
Negative Man-hou
ove
unning
Risk related with high volume of documents (such as
drawings, purchase orders and engineering requisitions) in
need of review or approval causing delay on deadlines.
3 Financial Negative Discount loss
Purchasing process got started without the determination of
total required material volume, which affects discount
opportunity, as possible deductions increase when
purchasing high volume of material in a single move.
Etc .. … …...
… …
…
…
Source: Created by the authors based on (original source for risk register)
3. Risk assessment
Use this part to explain what Risk Assessment is
How is the process? Key components? Outputs?
3.1. Probability & Impact Matrix
Explain what a P&I Matrix is.
Provide the definitions used by the team, example:
Table 2 - …..
Scale Probability Impact Definition
Low Unlikely Mino
Explain what each level means in terms of
impact and probability:
Minor impact on overall project performance
and deliverables. Would require a
combination of special circumstances to
occur…
Moderate likely Medium …
High very likely tohappen significant ….
Source:……
Provide the probability and impact matrix used by the team, example:
Table 3 - ……
IMPAC
T
Minor Medium Significan
t
PROBA
BILITY
Unlikely Low Moderate Moderate
Likely Moderate Moderate High
Very likely Moderate Hig
h
High
Source:
Provide the continuation of your risk register with key information to trace risks and the assessment,
according to the previous matrix, as example below:
Table 4 – …..
Risk
Assessment
ID RISK
NAME
Probability Impact Risk
Level
Risk Owne
1 Re-engineering Likely Significant. High
Harold
Mont (VP.
Engineerin
g)
2 Man-hourove
unning Very Likely Significany High
Fred
Wilson (VP
of
Operations)
3 Discountloss Very Likely Medium High …
4 … Very Likely … Moderate …
5 … … … High
6 …
.
.. High
Sources:…
The team can further explain the assessment of each risk.
You can provide an overview what key actions the team would recommend for each risk level / priority,
which will link with the next session.
4. Risk response
Use this part to explain what Risk Response Strategy is about.
How is the process? Key components? Outputs?
Explain what possible strategies can be used for threats and opportunities
Provide the continuation of your risk register with key information to trace risks and the response strategies
+ course of action, according to the assessment, as example below:
Table 5– ….
Risk
Response
ID RISK
NAME
Risk
Level Response
Strategy
Course of
Action
1
Re-
engineeri
n g High Mitigate
1) Implementation of change management
control over P & ID
2) Review of P & ID diagram
2
Man-hou
ove
unni
n g
…
High Mitigate
1) Elaboration of strategy to reduce man-hou
ove
unning
2) Approaching within client towards getting
approval for extra man-hour allocation
3 Discountloss High Mitigate ….
4 Moderate Exploit ….
5 High Avoid …. …
6 High Escalate ….
Source:
The team can further explain the actions taken
ecommended for each risk.
5. Risk communication Strategy
Use this part to explain the relevance of communication of risks and reporting
How is the process? Key components? Outputs?
Explain what possible methods can be used to communicate with stakeholders
You can provide a stakeholder register and/or a communication matrix to exemplify strategies:
Table 6 - …..
STAKEHOLDER
REGISTER
Name Position Organisatio
n
Communicati
on
method
Frequenc
y
Communicati
on
strategy
Fred
Frank
s
Manager of
project
managers
Atlay
project
team
Pus
h
Fortnightl
y
Face to face meeting
Weekly Summary and
variance
eports
Do
n
Jun
g
Project manager Atlay
project
team
Interactive Weekly Variance and cu
ent
period report
Weekly Face to face meeting
Fred
Wilso
n
VP of
Operations
Lyle
project
team
Interactive …. …..
… …
Source:….
You can specify what are major strategies in terms of communicating with key stakeholders regarding the
isks, considering their impact, their assessment and their level.
Provide the continuation of your risk register with key information to trace risks and the response strategies
+ course of action, now including the stakeholders and the communication strategy, as example below:
Table 7 – ….
Risk Communication
Strategy
ID Stakeholders Methods Strategy Frequenc
y
Justification Responsible
1
Raphael
Begen (Lead
process
engineer)
Interactiv
e
Meetings Fortnight
As lead process
engineer, Raphael must
e included in
decision-making process
elated to technical
issues.
PM
Engineers
from Atlay
and Lyle
teams.
Interactiv
e
Meetings weekly …. PM
Fred Franks
(superviso
of PMs)
Push Exception/Variance reports and
emails.
Fortnight … PM
2
Sponsor Interactiv
e
Interactive weekly
Sponsor must be well
informed about the need
of additional resources
and respective
justification
Fred Wilson
(VP of
Operations)
John Ma
y
& Harold
Mont
Interactiv
e
Interactive weekly
Both leaders of the two
departments where man-
hour allocation are
exceeding must be
included in the loop.
Fred Wilson
(VP of
Operations)
Fred Franks
(superviso
of PMs)
Push Exception/Variance reports and
emails.
Fortnight The supervisor o PM mustbe aware of any
variances.
Fred Wilson
(VP of
Operations)
3
Engineers
from Atlay
and Lyle
teams.
Interactiv
e
Meetings weekly
Engineers must work
together to review P & ID
diagram and to
implement change
control process.
PM
… Push Exception/Variance reports and
emails.
Fortnight … Fred Wilson(VP of
Operations)
4 … Interactiv
e
Meetings Fortnight …
John Ma
y
(VP of
Purchasing)
5 … Push Exception/Variance reports and
emails.
Fortnight ….
Raphael
Begen (Lead
process
engineer)
6 … Interactive and
Push
Meetings,
Summary and
Variance reports,
and emails.
Fortnight
(Meetings),
Weekly
(reports)
and ad hoc
(email).
….
Fred Franks
(superviso
of PMs)
6. Conclusion
Summary of the report and key findings
Reference List
……
Appendix
Lyle`s project risk
assessment Final..xl
You my also choose to add the risk register in full in a A3 landscape format
Assessment_2_Brief
Subject Code and Title
Assessment Task
This assessment consists of a Group Report to demonstrate your understanding of risk and
communication management. In groups, you will critically reflect and identify the risks in the Case
Study provided using a probability and impact matrix for assessment of these risks. You will also
assess and evaluate the impacts, propose response strategies and actions, and indicate how
communication with stakeholders will be conducted regarding the risk management strategy. A
complete Risk register should be provided as a Team output.
The rationale of this assessment is that you undertake a practical and value adding approach by
considering that this risk report will be presented to key stakeholders. Team responsibilities and
negotiation skills within the group are an important part of this assessment.
The word count per student and specifications should be incorporated in Point 5 of the file.
Context
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
Page 1 of 10
project management lifecycle, 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. Othe
factors such as developing, leading and managing project team members are also critical fo
successfully achieving project goals.
Instructions
To complete this assessment task, you must:
1. Form groups of three (3) people.
● Groups will be formed by students themselves or assigned by your Learning Facilitato
in consultation with the students, if required.
● Only in exceptional situations may a different group size be approved by your Learning
Facilitator.
● The deadline for team formation is 11:59 pm AEST/AEDT Friday end of Module 2 (Week 4).
Please inform your Learning Facilitator in class or via email regarding your team formation fo
this assessment.
2. Read and analyse the given Case Study.
● Refer to your subject notes, lecture slides and any additional research you may conduct that
may add value to your report.
3. Complete a Risk Identification and Impact Assessment, identifying the risks from the given Case
Study, critically analysing their impact on the project.
A. Risk Identification and Impact Assessment
a) Identify possible risks for the Case Study and critically analyse the impact of these
isks.
) Use a Risk Probability and Impact (P&I) matrix to rate and prioritise risks.
c) Develop appropriate response strategies, including a proposed course of action, to
effectively manage each identified risk.
d) Create a complete Risk Register for the Case Study.
B. Risk Communication Strategy
e) Identify and explain how stakeholders will be communicated and engaged with on the
project’s ongoing risk management activities.
Note: Your Learning Facilitator will advise of a minimal number of risks to be managed throughout
the report according to the group/class size.
4. Negotiate your written contribution focus
● As a team, negotiate and agree on which sections of the report will be answered by which
team members.
Page 2 of 10
5. Complete your report.
The report should consist of the following structure:
●