Project Risk Management Plan Development Assignment | Get Paper Help

Table of Content
Introduction
Project Scope, Objectives & Requirements
Purpose & Scope of RMP
Risk Management Process
Design
RACI Matrix
Procurement
RACI Matrix
Construction
RACI Matrix
Tools, Documentations, Reporting and Records
Project Assurance
Governance, Risk, Compliance (GRC)
· Contingency Management
Schedule Contingency (Determination, Allocation and Controls)
Cost Contingency (Determination, Allocation and Controls)
Analytics and data-driven solutions plan
Terms and Definitions
Appendices
Risk Register Minimum Requirements
Risk Categories and Tables
Risk Matrix/cies

Explain and develop the escalation table 10%
Explain how these tools should be used effectively to identify, analyse and
evaluate risks
Explanation 5%
Use the developed tools to assess top 10 risks Identification 15%
Analysis 15%
Evaluation 5%
Determine required schedule and cost contingency, including recommendations
and conclusion
20%
TOTAL 100%
Assignment 2: Project Risk Management Plan (RMP) Development
Figure 1 ‐ https://www.sydneymetro.info/
Figure 2https://www.sydneymetro.info/
Overview:
Sydney Metro is one of Australia’s biggest public transport project in 2018. The new standalone railway will
deliver 31 metro stations and more than 66km of new metro rail. Sydney Metro, together with signaling and
infrastructure upgrades across the existing Sydney rail network, will increase the capacity of train services
entering the Sydney CBD – from about 120 an hour today to up to 200 services beyond 2024.
As part of the team working on the project’s Final Business Case (FBC) for funding purposes, you have been
assigned to develop the Risk Management Plan (RMP) for the defined scope of project below from either
government or general Design and Contract (D&C) contractor perspectives. You are required to research
and find more details of this major project in order to successfully complete the assignment. The selected
scope of project for this assignment are three parts of Victoria Cross Station, Barangaroo Station and the
connecting tunnels between these two stations.
BLDG3012 Construction Risk, Health and Safety, Term 1, 2020 8
This is an individual assignment, 60% weighting, with a group presentation component, i.e. 15% individual
weighting. You will be asked to arrange yourselves into groups of 5. Large or smaller groups will need
permission from your lecturer.
Objectives:
 Demonstrate the significance of Risk Management Plan (RMP) to construction projects
 Develop and implement a proactive risk management process in construction projects aligning with risk
management standards of AS/NZS ISO 31000, ISO 31010, and Risk Engineering Society (RES)
Contingency Guideline 2019
 Follow risk assessment process including selection and application of appropriate risk analysis
 Address the different key aspects of risk management within the project team including risk culture, risk
appetite, risk perception, risk communication, risk threshold and risk exposure
 Apply a variety of risk treatment techniques and address optimum action plan decision making
 Identify, interpret and analyse stakeholder needs and expectations
 Identify constraints, uncertainties, risks and opportunities of the project (commercial, social, cultural,
legislative, safety, environmental, business, etc.)
Instructions:
 Establish an appropriate risk management context, including likelihood and consequence criteria,
escalation table, etc.
 Identify a major possible uncertainty or risk event with potential major positive or negative impact on
selected objective, e.g. technical, safety, commercial, etc.
 Prepare a Risk Management Plan (RMP) in accordance with AS/NZS ISO 31000:2018
 Define the project boundaries and objectives carefully; you may need to simplify and define the
boundaries of your report (for example “looking only at commercial risks” only) in order to achieve the
word limit.
 Include relevant literature review.
 Show evidence of consideration of alternatives for risk management.
 Clearly state the risk tolerability criteria employed.
 Consider aspects beyond the texts and lecture materials i.e. value added discussion.
 Submit as a soft copy
BLDG3012 Construction Risk, Health and Safety, Term 1, 2020 9
 Reference correctly – not referencing sources correctly can lead to a mark deduction, and not
referencing sources at all (including pictures, diagrams, and photographs) can be seen as plagiarism
and can lead to disciplinary action.
Assessment criteria:
Word limit: 3500-4000 words max excluding any appendices
Assessment criteria:
Criteria Score
Structure, grammar / spelling 5%
Risk identification and stakeholder analysis/ consultation (depth of analysis,
research, thought and referencing)
25%
Risk analysis (depth of analysis, research, thought and referencing) 25%
Risk Management Plan (RMP) including RACI Matrix 35%
Conclusion / recommendation 10%
Total 100%
Important Notes: Please note that the Assignment 2 Presentation requires group coordination since one
section depends on the next. So it is recommended that you discuss and set your group (each team should
have up to 5 members) as early as possible, hence you can plan for a group presentation.
Please also keep a copy of the assignment and ensure that you have completed and attached the
appropriate cover sheet to the assignment prior to submission.
UNSW has strict rules governing submission which will be applied fairly to all students. This means that
extensions to submission will only be granted on medical or compassionate grounds under extreme
circumstances and will not be granted because of other commitments. Requests for extensions must be
made in writing to the course coordinator prior to the due date. Medical certificates or other evidence must be
attached and must contain information that justifies the extension sought. Any permission for extension must
be attached to the project when submitted. For fairness to all students, late assignments, which have not
been granted an extension or have an attached permission will not be accepted. Late assignments will be
penalised in accordance with UNSW policy.
No primary data can be collected without proof of ethics clearance. This is a UNSW requirement which
applies to everyone studying and working at UNSW including staff and students. It means you can’t talk to
anyone formally about this, write to anyone for information or survey anyone with ethics clearance. Doing
primary data collection of any kind without ethics clearance will have serious consequences which include
expulsion from UNSW.
5. WEEKLY COURSE SCHEDULE
Week Learning Activity Assessment
Submissions
Related
CLOs
O week  General preparation
Week 1  Course introduction
 Project risk management as part of project management
 Introduction to Risk Management
 What may happen if projects risks are not appropriately
managed?
 Risk management approaches and methodologies
 Assignment 1 hand out and introductions / Q&A
Introduction for
Assignment 1
1, 2
BLDG3012 Construction Risk, Health and Safety, Term 1, 2020 10
Week 2  Establishing and planning risk management
 Risks and construction industry – overview of risk and WHS
management on construction projects
 Overview of industry standards and generic frameworks for
project risk management
 Introduction to Uncertainty Management
 Risk Management Process
 Risk Identification
 Risk Assessment Techniques
1, 2, 3
Week 3  Schedule Contingency Management
o Determination
 Cost Contingency Management
o Determination
3, 4
Week 4  Schedule Contingency Management
o Allocation
o Controls
 Cost Contingency Management
o Allocation
o Controls
Assignment 1 Due
Weighting: 25%
3, 4
Week 5  Risk Management Plan (RMP)
 Roles and responsibilities
 Software applications and systems
 Industry Case Studies
Note: Assignment 2 hand out and group project consultations
Introduction for
Assignment 2
5
Week 6  Risk Assessment Techniques (ISO 31010), including
WHSEQ
 Qualitative and quantitative risk analysis methods
Note: this is the FINAL cut-off date for being in a group for your
Assignment 2 Presentation.
Note: Group project consultations
3, 4, 5
Week 7  Risk Assessment Techniques (ISO 31010), including
WHSEQ
 Qualitative and quantitative risk analysis methods
 Project risk management vs. people vs. organisation culture
Note: Group project consultations
3, 4, 5
Week 8  Risk evaluation
 Risk response, treatment and actions planning
 Monitoring, reviewing and controlling risks
 Project issues and change management
 Industry Case Studies
Note: Group project consultations
3, 4, 5
Week 9  Introduction to risk-based decision making (RBDM)
 Tools and techniques
1, 2, 3,
4, 5
Week 10  Presentations for Assignment 2, Group Discussions and
feedbacks
 Course summary and Q&A’s
Assignment 2 Due
Weighting: 60%
Assignment 2
Presentation
Weighting: 15%
1, 2,