BSBPMG407A Apply Risk Management Techniques Apply Risk Management Techniques Unit Guide C ertificate IV in Project Management Qualification Code BSB41507 Unit Code BSBPMG407A

BSBPMG407A Apply Risk Management Techniques BSBPMG401A Apply Project Scope Management Techniques BSBPMG402A Apply Time Management Techniques BSBPMG403A Apply Cost Management Techniques BSBPMG404A Apply Quality Management Techniques BSBPMG405A Apply Human Resources Management Techniques BSBPMG406A Apply Communication Management Techniques BSBPMG407A Apply Risk Management Techniques BSBPMG408A Apply Contract and Procurement Procedures Units of Study – Certificate Units in the Certificate IV of Project Management

BSBPMG407A Apply Risk Management Techniques Apply Risk Management Techniques On completion of this unit you will – –have the skills and knowledge required to assist with aspects of risk management within a project –be able to assist in risk identification and planning –be able to contribute to risk control and review activities This unit is Ungraded which means that you will be found Competent or Not Yet Competent based on the completion of the assessment activities and the evidence of competency provided.

BSBPMG407A Apply Risk Management Techniques Elements of Competency Each unit of study is composed of elements of competency Apply Risk Management Techniques comprises 3 elements of competency – 1.Assist with risk analysis and planning 2.Conduct risk control activities 3.Contribute to assessing risk management outcomes Elements of competency are further broken down into performance criteria, these can be found on the next slides

BSBPMG407A Apply Risk Management Techniques 1.Assist with risk analysis and planning 1.Contribute to identifying and prioritising potential risks throughout the project life cycle 2.Provide input, within delegated authority, to develop risk management strategies and risk management plans within established guidelines 3.Establish risk analysis methods, techniques and tools to assist in the analysis of risks 4.Ensure reporting mechanisms for risks are planned for and agreed to

BSBPMG407A Apply Risk Management Techniques 2. Conduct risk control activities 1.Undertake control activities in accordance with agreed project and risk management plans to achieve project objectives 2.Measure progress and act on perceived, potential or actual risks within authority or report to others for response 3.Contribute to the implementation of agreed risk approaches and the amendment of plans to reflect the changing environment 4.Identify and report opportunities for action in the same way as risks

BSBPMG407A Apply Risk Management Techniques 3. Contribute to assessing risk management outcomes 1.Contribute to the ongoing review of project outcomes to determine the effectiveness of risk management activities by accessing project records and other available information 2.Report risk management issues and responses to others for lessons learned or application in future projects

BSBPMG407A Apply Risk Management Techniques Associated Readings Mandatory – PMBOK Chapter 11 – 11.1, 11.2, 11.3, 11.4, 11.5, 11.6 Risk Management Standard – AS/NZS 31000:2009 Risk Management Companion- HB 327:2010 Recommended – Learning Guide 1 – Define Project, pages 7 to 9 Learning Guide 2 – Develop Project Plans, pages 10 and 11 Learning Guide 3 – Administer & Monitor Project, pages 8 to 12 Learning Guide 5 – Review project, pages 2 to 5

BSBPMG407A Apply Risk Management Techniques Learning and Assessment Activities Forums - during weeks 9 and 10 Risk Categorisation Risk Ratings Quiz – due week 10 Project Risk

BSBPMG407A Apply Risk Management Techniques Team Assignment Criteria Team Assignment Components MarksBasic CompetencyHigher Competency Risk Rating Matrix 5  Basic scales for likelihood and consequences (3 possible ratings)  Combined impacts of likelihood and consequences  Detailed scales for likelihood and consequences (5 possible ratings)  Quantification of impacts for each rating Risk Register 5  Risk register covering major categories of project risk  Risk ratings and priorities  Summarised mitigation strategies  Concept of residual risk rating applied  More comprehensive coverage of risk categories Risk Action Plans 5  Detailed risk action plans provided for 3 highest priority risks, including assignment of responsibility for plan execution  More comprehensive risk action planes including scope, cost and time impacts of the plan Risk identification Risk management tools & techniques 5  Basic understanding of tools and techniques  At least two methods used  Advanced understanding of tools and techniques  More than two methods used and experts consulted Total2013 to 1617 to 20

BSBPMG407A Apply Risk Management Techniques Best wishes for your studies Crows Nest TAFE and the Business and Commerce Business Line of the Northern Sydney Institute wish you success in your studies!