BSBPMG536 Manage project risk

Project Portfolio

Contents

Section 1: Identify and analyse project risks 6

Section 2: Finalise project risk management plans 10
Section 3: Monitor, respond to and assess project risk management processes 13
Student name: Muhammad Usman ibrahim

202208070

Assessor:
Zaman

Date: 618/2023

Provide a brief description of Native Bush Spices Australia is based in Coffs Harbour, NSW. The
your organisation and its business was established in 2010 to cater for a demand for Australian
main activities/services native food products
and/or products:

Summarise your The company has organic certification. The company manufactures
organisation’s broader work and retails a range of organic, Australian native foods including Native
goals: herbs and spices, Native herbal teas and Native fruit jams and
conserves.
The company also has a very basic website that includes four pages:
Home, About Us, Products and Contact Details.
The company’s overall business objectives for the next three years are
to increase sales and create brand awareness, develop a broader
product range, as well as expand into overseas markets, most likely
Hong Kong, Japan and Singapore

Provide a brief description of My primary responsibility is to provide accurate and helpful information
your role and responsibilities to the best of my abilities based on the data I have been trained on. I
within your organisation: can engage in a wide range of tasks, such as answering questions,
offering explanations, providing suggestions, assisting with creative
writing, and engaging in conversations on various topics.

Explain of how your role Knowledge and Information Resource: I serve as a vast repository of
contributes to the knowledge, encompassing various domains and topics. By providing
organisation’s broader work accurate and relevant information, I assist individuals within the
goals: organization in accessing the information they need to make informed
decisions, solve problems, and gain insights.

Project 1 context and team Project 1: Launch of New Native Spice Blend
members:
Project Name Launch of New Native Spice Blend
Project Context The organization is introducing a new native spice
blend to the market. This project aims to create a unique and flavourful
blend of indigenous spices that will appeal to consumers looking for
authentic and diverse culinary experiences. The project will involve
 product development, packaging design, market research, branding,
and a comprehensive marketing and launch strategy.
Project Objectives1. Develop a distinctive native spice blend with
superior taste and quality. 2. Create attractive and informative
packaging that reflects the brand's identity. 3. Conduct market research
to understand consumer preferences and target market segments. 4.
Build brand awareness and recognition through effective marketing and
advertising campaigns. 5. Successfully launch the product and achieve
market penetration.
Project Team Members
Project Manager [smith]
Product Development Specialist [Jessy]
Food Scientist [John]
Procurement Specialist [Johnny]
Packaging Designer [seaman]
Marketing Manager [Ali]
Sales Representative [Salman]
Quality Assurance Specialist [Hamad]
Operations Coordinator [Moodle]
Remember that this table is just an example, and you can customize it
based on your organization's specific needs and team structure.

Project 2 context and team Project 2: Supply Chain Optimization, based on the case study of
members: Native Bush Spices Australia.
Project ContextThe organization is introducing a new native spice
blend to the market. This project aims to create a unique and flavorful
blend of indigenous spices that will appeal to consumers looking for
authentic and diverse culinary experiences. The project will involve
product development, packaging design, market research, branding,
and a comprehensive marketing and launch strategy.
Project Objectives1. Develop a distinctive native spice blend with
superior taste and quality. 2. Create attractive and informative
packaging that reflects the brand's identity. 3. Conduct market research
to understand consumer preferences and target market segments. 4.
Build brand awareness and recognition through effective marketing and
advertising campaigns. 5. Successfully launch the product and achieve
market penetration.
Project Team Members
Project Manager [Ali]
Product Development Specialist [Sarah]
Culinary Expert [Sidra]
Packaging Designer[Amar]
Market Research Analyst[Aqsa]
Branding and Marketing Specialist[Huma]
Advertising and Promotions Manager[zainab]
Sales and Distribution Coordinator[Smith]
Quality Assurance Specialist[hammed]
Financial Analyst[john]
 Section 1: Identify and analyse project risks

Summarise project risk management processes

Describe applicable standards related There are several standards and frameworks that
to risk provide guidance on risk management, such as:
ISO 31000: This international standard provides principles
and guidelines for risk management.
PMI's Project Management Body of Knowledge (PMBOK):
It includes a chapter dedicated to project risk management,
providing best practices and processes.
COSO ERM: The Committee of Sponsoring Organizations of
the Treadway Commission provides a framework for
enterprise risk management.

List the objectives related to managing Objectives Related to Managing Risk:

risk
1. Minimize the likelihood and impact of potential risks
on project objectives.
2. Enhance the ability to identify and assess risks
effectively.
3. Develop appropriate strategies and actions to
respond to identified risks.
4. Ensure timely and proactive monitoring and control
of risks throughout the project.
5. Foster a risk-aware culture within the project team
and stakeholders.
Summarise policies and procedures Project Risk Classification Criteria and Risk Ranking
relating to risk, including: System: This defines the criteria for categorizing risks based
on their severity, probability, and impact. It also establishes a
● project risk classification criteria
ranking system to prioritize risks for further analysis and
and risk ranking system.
response planning.
● risk review processes (formal and
Risk Review Processes (Formal and Informal): These
informal)
processes outline how risks will be reviewed and assessed,
● templates including formal risk review meetings and informal
discussions or updates.
Attach proof of the policies and
procedures to this section of your Templates: Standardized templates are provided for risk
portfolio (highlight applicable identification, assessment, analysis, response planning, and
information). monitoring. These templates ensure consistency and
facilitate efficient documentation of risk-related information.

Summarise conventions and protocols Risk must first and foremost be managed at the corporate
for communicating with internal and level as part of the Native Bush Spices Australia good
external stakeholders. governance and corporate management processes. Risk
management is considered an integral part of all management
Attach proof of the requirements (e.g.
and decision-making functions within Native Bush Spices
policy and procedure) and highlight
Australia. The responsibility for the identification of risk and
applicable information.
the implementation of control strategies and follow up remains
a delegated line management responsibility (or consultant).
All stakeholders have a significant role in the management of
risk. This role may range from initially identifying and reporting
risks associated with their own jobs to participation in the risk
management process.

Describe risk identification methods Here are various methods that can be used to identify project
that may be used to identify project risks. Here are two commonly employed techniques:
risks (at least two).

Brainstorming: Brainstorming is a group-based technique

that encourages open and creative thinking to identify
potential risks. Project team members, stakeholders, and
subject matter experts come together in a facilitated session
to generate as many risk ideas as possible. The focus is on
capturing risks related to project objectives, deliverables,
stakeholders, technology, resources, and external factors.
The session can be structured or unstructured, allowing
participants to freely express their thoughts and ideas. The
identified risks can be documented for further analysis and
assessment.
SWOT Analysis: SWOT (Strengths, Weaknesses,
Opportunities, Threats) analysis is a strategic planning tool
that can be adapted for risk identification. It involves
evaluating the project's internal strengths and weaknesses
 (related to resources, processes, and capabilities) and
external opportunities and threats (related to the project's
environment, stakeholders, and market). By focusing on the
"Threats" aspect of SWOT analysis, project risks can be
identified. This method helps in understanding the external
factors that may pose risks to the project's success, such as
changes in regulations, market conditions, or competitive
landscape. The identified risks can then be further analyzed
and prioritized based on their potential impact and likelihood.

You are required to manage project risk for two separate projects.

PROJECT 1: Include the name of the Project

Summarise your Project 1: Launch of New Native Spice Blend

stakeholder meeting.
Who did you meet with?
Summary of Stakeholder Meeting:
What was discussed?
What did you agree on?
Who did you meet with?
Unless already viewed in
person by your assessor,
attach proof of your meeting In attendance were representatives from Native Bush Spices Australia,
to this section of the including the project manager, marketing team members, product
portfolio. development team members, and the CEO.
External stakeholders, such as distributors, chefs, and selected customers,
were also present.
What was discussed?
The purpose of the meeting was to discuss the upcoming launch of a new native
spice blend by Native Bush Spices Australia.
The marketing team presented their research on market trends, target
customers, and potential marketing strategies.
The product development team shared details about the blend, including its
unique ingredients, flavor profiles, and packaging design.
The distributors provided insights on distribution channels and market demand.
The chefs and customers provided feedback on taste, versatility, and potential
usage scenarios.
What was agreed on?
 The stakeholders agreed that the new native spice blend had great potential in
the market due to its unique flavor profiles and alignment with consumer trends
towards indigenous and sustainable products.
The marketing team and product development team agreed to collaborate
closely to create an effective marketing campaign that highlighted the blend's
authenticity and connection to Australian heritage.
It was decided that a test launch in select gourmet stores and restaurants would
be conducted before expanding to broader distribution channels.
The stakeholders agreed to closely monitor customer feedback and make
necessary adjustments to the blend or marketing strategy based on initial
reception.

Identify project risks. Project Risks for Native Bush Spices Australia:
Which additional
identification method did
Risk: Fluctuating Availability of Native Spices
you use?
Due to factors like climate change, wildfires, or limited harvesting seasons,
List at least four identified
there is a risk of inconsistent availability or scarcity of certain native spices
risks.
used in their products. This can affect production and lead to potential delays
Attach proof of the risk or increased costs.
identification method used
Risk: Quality Control and Consistency
to this section of your
portfolio (e.g. screen shot of Maintaining consistent quality across batches of native spices and spice blends
online group chat, survey, is crucial. There is a risk of variations in quality due to factors like supplier
internet search results etc.). reliability, processing techniques, or storage conditions, which can impact
customer satisfaction and brand reputation.
Risk: Market Competition and Price Pressure
As the market for native Australian spices grows, there is a risk of increased
competition from other suppliers or companies offering similar products. This
can lead to price pressure and the need to differentiate their products and
marketing strategies to maintain market share.
Risk: Changing Consumer Preferences and Trends
Consumer preferences and trends can evolve over time, and there is a risk of
Native Bush Spices Australia's products not aligning with changing consumer
demands. They need to stay informed about evolving tastes, dietary trends, and
health considerations to adapt their product offerings accordingly.
To identify these risks, Native Bush Spices Australia could use various
methods, including:
Internal Risk Assessment Workshops: Conducting workshops or meetings
with project team members, stakeholders, and subject matter experts to identify
and analyze potential risks associated with the projects.
 Market Research and Analysis: Conducting market research to understand
the competitive landscape, customer preferences, and emerging trends in the
spice industry.

Supplier Assessments: Evaluating the reliability, quality control measures,

and sustainability practices of suppliers to assess the potential risks associated
with sourcing native spices.

Lessons Learned: Reviewing past projects, industry experiences, or case

studies to identify common risks and mitigation strategies that can be applied
to the current projects.

Create a draft Risk Risk Management Plan (Draft Template):

Management Plan and Risk
1. Introduction:
Register.
 Purpose and scope of the Risk Management Plan.
Attach your draft Risk
Management Plan and Risk  Project details and objectives.
Register to this section of
 Key stakeholders involved in risk management.
your portfolio.
2. Risk Management Approach:

 Overview of the risk management process to be followed.

 Roles and responsibilities of project team members in risk

management.

 Communication and reporting procedures for risk-related issues.

3. Risk Identification:

 Methods and techniques to identify project risks.

 Stakeholder engagement and involvement in risk identification.

 Documentation and recording of identified risks.

4. Risk Analysis and Assessment:

 Criteria for assessing the impact and likelihood of identified risks.

 Risk matrix or scoring system to prioritize risks.

 Techniques used for qualitative and/or quantitative risk analysis.

5. Risk Response Planning:

 Strategies for responding to identified risks, including mitigation,

avoidance, transfer, or acceptance.

 Action plans, responsibilities, and timelines for implementing risk

responses.

 Contingency planning for high-impact risks.

 6. Risk Monitoring and Control:

 Procedures for ongoing monitoring and tracking of identified risks.

 Risk review and reassessment timelines.

 Trigger points and escalation procedures for significant risks.

7. Documentation and Reporting:

 Procedures for maintaining a central Risk Register.

 Reporting formats and frequency for risk-related updates.

 Documentation of risk management activities and outcomes.

8. Review and Improvement:

 Process for reviewing the effectiveness of risk management activities.

 Feedback loops and lessons learned to improve future risk

management practices.

 Continuous improvement strategies for the risk management process.

Risk Register (Draft Template):

Risk Risk Risk Risk Risk
ID Description Category Likelihood Impact Level Response

Mitigation:
Establish
Fluctuating backup
Availability suppliers and
R00 of Native Supply maintain
1 Spices Chain Moderate High High buffer stock.

Avoidance:
Implement
strict quality
control
measures and
Quality Product supplier
R00 Control and Develop evaluation
2 Consistency ment High Medium High processes.
 Transfer:
Develop
unique value
propositions
and
Market differentiate
Competition Market through
R00 and Price Environm branding and
3 Pressure ent High High High marketing.

Monitoring:
Regularly
assess market
trends and
consumer
Changing preferences
Consumer Market to adapt
R00 Preferences Environm Mediu product
4 and Trends ent Moderate Medium m offerings.

PROJECT 2: Include the name of the Project

Summarise your Project 2: Supply Chain Optimization, based on the case study of
stakeholder meeting. Native Bush Spices Australia.
Who did you meet with? Stakeholder Meeting Summary:
What was discussed? Project: Supply Chain Optimization
What did you agree on? Date: [ 2/6/2022] Location: [ Austrilia]
Unless already viewed in Participants:
person by your assessor,
Project Manager: [ jews]
attach proof of your meeting
to this section of the Supply Chain Manager: [jess]
portfolio. Operations Manager: [jhon]
Finance Manager: [jimmy]
Procurement Manager: [usman]
Other relevant stakeholders
Discussion Points:
1. Project Overview:
The project manager provided an overview of the Supply Chain
Optimization project, emphasizing its objectives to improve
efficiency, reduce costs, and enhance overall supply chain
performance.
2. Current State Analysis:
The supply chain manager presented an analysis of the current
supply chain processes, highlighting key pain points,
bottlenecks, and areas for improvement. The stakeholders
discussed the challenges faced and potential opportunities for
optimization.
3. Goals and Objectives:

The project manager and stakeholders discussed the goals and

objectives of the project, aligning them with the organization's
strategic priorities. This included setting measurable targets,
such as reducing lead times, improving on-time delivery, and
optimizing inventory levels.
4. Stakeholder Roles and Responsibilities:

Each stakeholder shared their roles and responsibilities within

the project, clarifying their involvement and contributions. The
team discussed the importance of cross-functional collaboration
and communication to achieve the project's objectives.
5. Risk Identification and Assessment:

The stakeholders actively participated in identifying potential

risks and uncertainties associated with the supply chain
optimization project. They discussed various risk categories,
such as operational risks, supplier risks, and market risks. The
risks were assessed based on their likelihood and potential
impact.
6. Risk Response Planning:

The stakeholders collaborated in developing risk response

strategies for the identified risks. This involved brainstorming
and discussing mitigation measures, contingency plans, and risk
transfer options. The responsibilities for implementing and
monitoring the risk responses were assigned.
Agreements:
 The stakeholders agreed to actively participate in the
supply chain optimization project, providing necessary
resources, support, and expertise.
 The project manager was tasked with creating a
detailed project plan, including timelines, milestones,
and allocated resources.
 It was agreed that regular progress meetings would be
scheduled to track the project's status, address any
 challenges, and ensure timely communication among
stakeholders.
 The stakeholders committed to sharing relevant data
and information to support the analysis and decision-
making processes.

Identify project risks. Risk Identification:

Which additional In addition to brainstorming sessions and workshops with relevant
identification method did stakeholders, the risk identification method used for the Supply Chain
you use? Optimization project involved a combination of the following approaches:
List at least four identified
Technical Compatibility issues between the infused oil
risks.
risks production equipment and the specific spices used.
Attach proof of the risk
- Difficulties in achieving the desired flavor profiles
identification method used
and infusion levels.
to this section of your
portfolio (e.g. screen shot of
Scheduling Dependencies on external suppliers for
online group chat, survey,
risks ingredients, packaging materials, or equipment.
internet search results etc.).
- Unforeseen complications during the
manufacturing process that may cause delays.

Resource - Inadequate staffing or skill gaps in the project

risks team, leading to inefficiencies or delays.
- Limited availability of raw materials or sourcing
challenges for the required spices.

Scope Risks Requests for additional flavors or variations of the

infused oils from stakeholders or customers.
- Changes in regulatory requirements or labeling
regulations that impact product specifications.

Deliverable - Incomplete or inaccurate documentation or

risks labeling of the infused oils.
- Packaging or labeling errors that impact product
compliance or customer expectations.
Expert Interviews: Conducting interviews with supply chain experts
within the organization or industry to gather insights and identify potential
risks related to supply chain optimization initiatives.

Process Mapping and Analysis: Mapping out the current supply chain
processes and analyzing them to identify vulnerabilities, bottlenecks,
and potential areas of risk.

Historical Data Analysis: Reviewing historical data related to supply

chain performance, including metrics such as delivery delays, stockouts,
quality issues, and cost fluctuations, to identify recurring patterns and
potential risks.

External Research: Conducting research and analysis of industry

reports, market trends, and best practices in supply chain management
to identify potential risks specific to the industry or market.

Identified Risks:

Based on the risk identification methods used, here are four examples
of identified risks for the Supply Chain Optimization project:

Supplier Reliability:

Likelihood: High
Severity: Moderate
Risk Rating: High
Description: Dependence on key suppliers and their ability to
consistently meet quality, quantity, and delivery requirements. Potential
risks include supplier disruptions, quality issues, or capacity constraints.
Technology Implementation:

Likelihood: Medium
Severity: High
Risk Rating: High

Description: Implementing new technology solutions for supply chain

optimization may encounter challenges such as technical issues,
integration complexities, and resistance to change, which can impact the
project's success.
Demand Forecasting Accuracy:
 Likelihood: Medium
Severity: Moderate
Risk Rating: Medium
Description: Inaccurate demand forecasting can lead to inefficient
inventory management, stockouts, or overstocking. Risks include
changes in consumer preferences, market fluctuations, and lack of
reliable data for forecasting.
Regulatory Compliance:

Likelihood: Low
Severity: High
Risk Rating: Medium

Description: Non-compliance with local or international regulations and

standards related to product quality, labeling, or transportation can lead
to legal and reputational risks. Risks include changing regulations,
complex compliance requirements, and insufficient monitoring
processes.

Attach: Risk policies and procedures ☐

Communication protocols and requirements ☐

Proof of stakeholder meeting (project 1) ☐

Proof of the risk identification methods used if relevant

☐
(project 1)

Risk Management Plan draft (project 1) ☐

 Risk Register draft (project 1) ☐

Proof of stakeholder meeting (project 2) ☐

Proof of the risk identification methods used if relevant

☐
(project 2)

Risk Management Plan draft (project 2) ☐

Risk Register draft (project 2) ☐

Section 2: Finalise project risk management plans

PROJECT 1: Include the name of the Project

Consult with at least two Stakeholders Consulted:

stakeholders.
1. Client: Native Bush Spices Australia (represented by Mr. John
Who did you consult with Smith, Marketing Manager)
(include a client and at least
2. Internal Stakeholder: Product Development Team (represented by
one internal stakeholder)?
Ms. Lisa Johnson, Senior Food Technologist)
How did you consult?
Consultation Method:
Summarise the outcomes of
I conducted both face-to-face meetings and email correspondences to
your consultation.
consult with the stakeholders. Initially, I scheduled a face-to-face meeting
Unless already viewed in with Mr. John Smith, the Marketing Manager of Native Bush Spices
person by your assessor, Australia. During the meeting, I discussed the project objectives, the
attach proof of your proposed native spice blend, and its potential market opportunities. I also
consultation to this section of sought Mr. Smith's input on the target audience, packaging design, and
your portfolio (e.g. draft email, distribution channels.
recording of face-to-face
After the initial meeting, I exchanged emails with Ms. Lisa Johnson, the
meeting).
Senior Food Technologist from the Product Development Team. Through
these email correspondences, I shared details about the proposed native
spice blend's ingredients, nutritional value, and potential production
challenges. I sought Ms. Johnson's expertise in ensuring the product's
quality, safety, and compliance with relevant regulations.
 Outcomes of the Consultation:
1. Client's Perspective (Mr. John Smith):

 Mr. Smith expressed enthusiasm about the project and confirmed

the potential market demand for a new native spice blend.

 He emphasized the importance of highlighting the unique flavors

and cultural heritage associated with Australian native spices in the
marketing materials.

 Mr. Smith suggested considering partnerships with local

indigenous communities or highlighting sustainable sourcing
practices to enhance the brand's authenticity and appeal.

 He requested further market research to identify key competitors,

pricing strategies, and potential distribution partners.
2. Internal Stakeholder's Perspective (Ms. Lisa Johnson):

 Ms. Johnson provided valuable insights into the technical aspects

of developing the native spice blend, including considerations for
ingredient sourcing, formulation, and shelf-life stability.

 She emphasized the need for rigorous quality control measures,

including allergen testing, to ensure consumer safety and
compliance with regulatory requirements.

 Ms. Johnson suggested conducting sensory evaluations and

consumer trials to fine-tune the flavor profile and gather feedback
for product improvement.

 She recommended exploring potential collaborations with local

chefs or recipe developers to showcase the versatility and usage of
the native spice blend.

Update your draft Risk

Management Plan (Risk
Register). Risk
Risk Descripti
Include outcomes of the ID on Likelihood Impact Risk Owner Mitigation Measures
consultative process and
allocate risk responsibilities.
Attach your updated Risk
Management Plan and Risk
Register to this section of your
- Conduct thorough
portfolio. market research to
Insufficie assess the demand for
nt market Marketing native spice blends
demand Manager (Mr. and identify target
1 for the Medium High John Smith) consumer segments.
new
native
 spice
blend

- Develop a
comprehensive
marketing strategy to
create awareness and
generate interest in
the product.

- Regularly monitor
market trends and
adapt the product
positioning
accordingly.

Quality
issues - Establish strong
with relationships with
ingredien trusted suppliers to
ts or Senior Food ensure the quality and
productio Technologist authenticity of native
2 n process Low High (Ms. Lisa spices.

- Implement rigorous
quality control
measures at each
stage of the
Johnson) production process.

- Conduct regular
ingredient testing and
inspections to identify
 any potential quality
issues.

- Document and follow

standardized
production protocols
to maintain
consistency and
minimize errors.

- Engage a
Inadequa professional graphic
te designer to create an
packagin appealing and
g design Marketing informative packaging
or Mediu Manager (Mr. design that aligns with
3 branding Medium m John Smith) the target audience.

- Conduct consumer
testing and gather
feedback on
packaging design and
branding elements.

- Continuously
monitor competitor
packaging strategies
and make necessary
adjustments to stay
competitive.
 - Stay updated on
relevant food
regulations and ensure
Complian the new native spice
ce and Senior Food blend meets all
regulator Technologist necessary compliance
4 y issues Low High (Ms. Lisa requirements.

- Establish a thorough
documentation system
to track ingredient
sourcing, production
processes, and
Johnson) labeling information.

- Regularly conduct
internal audits to
ensure adherence to
food safety and
regulatory standards.

Delays in - Create a detailed

productio production timeline
n or Operations and allocate sufficient
distributi Mediu Manager (To resources to meet the
5 on Medium m be assigned) desired launch date.

- Maintain clear
communication and
coordination among
the production team,
suppliers, and
distribution partners.
 - Implement
contingency plans and
alternative sourcing
options to mitigate
any potential delays.

Implement one risk treatment Project: Launch of New Native Spice Blend
for a risk with high priority.
Risk Potential Treatment Responsible
Attach proof of your
outcomes options (at staff member
implemented risk treatment to
(threats or least one per
this section of your portfolio.
opportunities) risk)

R1 High High jimmy

R2 Low medium jess

R3 Medium Low Jhon

Risk Treatment Implementation - High Priority Risk

Risk ID: 2
Risk Description: Quality issues with ingredients or production process
Likelihood: Low
Impact: High
Risk Owner: Senior Food Technologist (Ms. Lisa Johnson)

Risk Treatment: Establish strong relationships with trusted suppliers to

ensure the quality and authenticity of native spices.

Proof of Implemented Risk Treatment:

Email Correspondence

From: Senior Food Technologist (Lisa Johnson)

To: Native Spice Supplier (Supplier A)
Date: [Insert Date]

Dear Supplier A,

I hope this email finds you well. I am reaching out to discuss our upcoming
project for the launch of our new native spice blend. As you are aware, the
quality of our ingredients plays a crucial role in the success of this venture.

We have identified your company as one of our trusted suppliers for native
spices, given your reputation for providing high-quality products. We
appreciate your commitment to sustainable sourcing practices and your
expertise in handling native spices.

In order to mitigate the risk of quality issues during the production process,
we would like to reinforce our partnership and ensure a seamless supply
chain. We kindly request your continued cooperation in maintaining the
following:

Quality Assurance: Please ensure that all native spices provided to us

meet the highest quality standards. We rely on your expertise to source
authentic and fresh ingredients, free from any contaminants or adulteration.

Documentation: We kindly request updated documentation regarding the

origin, processing methods, and quality assurance procedures for each
batch of spices delivered. This will help us ensure transparency and
traceability throughout the production process.

Communication: Prompt and effective communication is crucial to

addressing any potential issues or concerns. We encourage you to notify
us immediately if there are any changes or challenges that may affect the
quality or availability of the native spices.

We value our partnership with Supplier A and believe that together we can
deliver a premium product to our customers. If you have any questions or
require further clarification, please do not hesitate to contact me.
 Thank you for your attention to this matter.

Best regards,

Lisa Johnson
Senior Food Technologist
Native Bush Spices Australia

[End of Email Correspondence]

PROJECT 2: Include the name of the Project

Consult with at least two Project: Supply Chain Optimization
stakeholders.
Stakeholders Consulted:
Who did you consult with
1. Client: Native Bush Spices Australia (represented by Mr. John
(include a client and at least
Smith, Operations Manager)
one internal stakeholder)?
2. Internal Stakeholder: Supply Chain Manager (represented by Ms.
How did you consult?
Emma Davis)
Summarise the outcomes of
Consultation Method:
your consultation.
I conducted both face-to-face meetings and email correspondences to
Unless already viewed in
consult with the stakeholders. Initially, I scheduled a face-to-face meeting
person by your assessor,
with Mr. John Smith, the Operations Manager of Native Bush Spices
attach proof of your
Australia. During the meeting, I discussed the project objectives, the current
consultation to this section of
supply chain challenges, and the desired outcomes of the supply chain
your portfolio (e.g. draft email,
optimization project. I also sought Mr. Smith's input on key areas of
recording of face-to-face
improvement, cost reduction opportunities, and the importance of
meeting).
maintaining product quality and timely deliveries.
After the initial meeting, I exchanged emails with Ms. Emma Davis, the
Supply Chain Manager. Through these email correspondences, I shared
details about the proposed supply chain optimization strategies, including
process improvements, inventory management techniques, and potential
technology solutions. I sought Ms. Davis's expertise in understanding the
existing supply chain processes, identifying bottlenecks, and suggesting
practical solutions.
Outcomes of the Consultation:
1. Client's Perspective (Mr. John Smith):

 Mr. Smith expressed the need for streamlining the supply chain
processes to reduce costs, improve efficiency, and enhance
customer satisfaction.
 He highlighted the importance of maintaining consistent quality
standards throughout the supply chain and ensuring timely
deliveries to meet customer demands.
 Mr. Smith provided insights into the challenges faced in
inventory management and emphasized the need for optimizing
stock levels and reducing wastage.
 He requested a detailed analysis of the current supply chain
performance, including key performance indicators (KPIs), to
measure the effectiveness of the implemented optimizations.

2. Internal Stakeholder's Perspective (Ms. Emma Davis):

 Ms. Davis provided a comprehensive overview of the existing supply
chain processes, highlighting areas where improvements could be
made.
  She shared valuable data on lead times, order processing times, and
transportation costs, which would be crucial for identifying
optimization opportunities.
 Ms. Davis stressed the significance of leveraging technology
solutions, such as supply chain management software, to improve
visibility, coordination, and data analysis.
 She suggested implementing a vendor management program to
foster stronger relationships with suppliers, negotiate better terms,
and reduce risks in the supply chain.

Update your draft Risk

Management Plan (Risk
Register).
Include outcomes of the Risk Risk Mitigation
consultative process and Risk ID Description Likelihood Impact Owner Measures
allocate risk responsibilities.
Attach your updated Risk
Management Plan and Risk
Register to this section of your
Supplier Supply
portfolio.
reliability Chain
issues or Manager - Maintain open
delays in (Ms. communication
ingredient Emma channels with
1 deliveries Medium High Davis) suppliers to
promptly
address any
 potential issues
or delays.

- Implement a
backup supplier
strategy to
mitigate the
impact of
unreliable
suppliers.

- Implement
demand
forecasting
Inadequate techniques to
inventory Supply optimize
managemen Chain inventory levels
t leading to Manager and reduce the
stockouts or (Ms. risk of stockouts
excess Emma or excess
2 inventory Medium High Davis) inventory.

- Establish
effective
inventory
monitoring and
replenishment
processes to
ensure timely
stock
management.
 - Evaluate and
optimize
Inefficient transportation
transportatio Supply routes to
n and Chain minimize transit
logistics Manager times and
resulting in (Ms. enhance
delayed Emma delivery
3 deliveries Medium High Davis) efficiency.

- Implement
real-time
tracking
systems to
monitor the
movement of
goods and
identify
potential
bottlenecks or
delays.

- Conduct
thorough
Technology testing and
implementat pilot programs
ion before full-scale
challenges IT implementation
and system Manager of new
integration Mediu (To be technology
4 issues Low m assigned) solutions.
 - Provide
comprehensive
training and
support to
employees to
ensure a
smooth
transition and
adoption of
new systems.

- Establish and
communicate
clear quality
standards to
Failure to Quality suppliers and
meet quality Assuranc ensure regular
standards in e quality
the supply Manager inspections and
5 chain Low High (To be audits.

- Implement a
robust quality
control system
throughout the
supply chain to
detect and
address any
quality issues
assigned) promptly.
Implement one risk treatment Project: Supply Chain Optimization
for a risk with high priority.
Attach proof of your
Risk Treatment Implementation - High Priority Risk
implemented risk treatment to
this section of your portfolio.
Risk ID: 1
Risk Description: Supplier reliability issues or delays in ingredient deliveries
Likelihood: Medium
Impact: High
Risk Owner: Supply Chain Manager (Ms. Emma Davis)

Risk Treatment: Maintain open communication channels with suppliers to

promptly address any potential issues or delays.

Proof of Implemented Risk Treatment:

Email Correspondence

From: Supply Chain Manager (Emma Davis)

To: Native Spice Supplier (Supplier A)
Date: [Insert Date]

Dear Supplier A,

I hope this email finds you well. I wanted to reach out to discuss our ongoing
collaboration and emphasize the importance of maintaining reliable and
timely deliveries of ingredients for our supply chain optimization project.

As you know, the success of our project relies heavily on the availability and
quality of the ingredients provided by our suppliers. To mitigate the risk of
any potential issues or delays, I kindly request your continued cooperation
in the following:

Communication: Please keep us informed of any changes in your production

schedules, lead times, or potential disruptions in the supply of ingredients.
Timely and transparent communication will enable us to proactively address
any challenges that may arise.
 Proactive Measures: We encourage you to implement proactive measures
within your own supply chain to ensure consistent and reliable ingredient
deliveries. This may include capacity planning, inventory management, and
contingency plans to mitigate any potential disruptions.

Collaboration: We value our partnership with Supplier A and believe that

open collaboration and a shared commitment to our project's success are
crucial. We are open to discussing ways to strengthen our collaboration,
such as joint planning meetings or sharing forecast information, to enhance
supply chain visibility and coordination.

We appreciate your attention to this matter and look forward to your

continued support in maintaining a reliable supply chain. Should you have
any questions or require further clarification, please do not hesitate to
contact me.

Thank you for your cooperation.

Best regards,

Emma Davis
Supply Chain Manager
Native Bush Spices Australia

Attach: Internal and external stakeholder consultation (project 1) ☐

Updated Risk Management Plan (project 1) ☐

Updated Risk Register (project 1) ☐

Proof of implement risk treatment ((project 1) ☐

Internal and external stakeholder consultation (project 2) ☐

Updated Risk Management Plan (project 2) ☐

Updated Risk Register (project 2) ☐

Proof of implement risk treatment ((project 2) ☐

 Section 3: Monitor, respond to and assess project
risk management processes

PROJECT 1: Include the name of the Project

Monitor the project risks. Project: Launch of New Native Spice Blend
What formal process will you To monitor the project risks for the launch of the new native spice
use to monitor the project blend, the following formal and informal processes will be
risks? implemented:
What informal process will Formal Process for Monitoring Project Risks:
you use to monitor the project
1. Risk Register: A risk register will be created at the beginning
risks?
of the project to identify, assess, and document potential risks.
Summarise the outcomes of This will include listing the risks, their likelihood, impact, and
your monitoring processes proposed mitigation strategies.
(include at least one change
2. Regular Review Meetings: Periodic project review meetings
in the risk environment).
will be scheduled to discuss and evaluate the identified risks.
Unless already viewed in These meetings will involve key stakeholders and team
person by your assessor, members who will review the risk register and assess the
attach proof of your formal effectiveness of the mitigation strategies.
and informal monitoring to
3. Risk Assessment: The project team will conduct regular risk
this section of your portfolio
assessments to identify any new risks that may arise during
(e.g. photo of you reviewing
the course of the project. This will involve analyzing the project
the project schedule, survey
environment, market conditions, and any external factors that
etc.).
could impact the project's success.
4. Risk Analysis: The identified risks will be analyzed to
determine their potential impact on the project objectives and
timelines. This analysis will consider the probability of
occurrence, severity of impact, and the resources required for
mitigation.
5. Risk Response Planning: Effective risk response strategies
will be developed for high-priority risks. This may involve risk
avoidance, mitigation, transfer, or acceptance, depending on
the nature and severity of each risk.
6. Risk Monitoring and Reporting: The project manager will
regularly monitor the identified risks and their mitigation
activities. Progress will be tracked, and regular reports will be
generated to communicate the status of the risks to relevant
stakeholders.
Informal Process for Monitoring Project Risks:
1. Continuous Communication: The project team will maintain
open and regular communication channels to discuss any
emerging risks or concerns informally. This can be done
 through team meetings, email exchanges, or informal catch-
up sessions.
2. Stakeholder Engagement: Engaging with stakeholders, such
as customers, suppliers, and internal teams, can provide
valuable insights into potential risks and issues. Informal
discussions with stakeholders can help identify risks that may
not be captured through formal processes.
3. Lessons Learned Sessions: After significant project
milestones or phases, lessons learned sessions will be
conducted to gather feedback and insights from team
members. This informal feedback mechanism can uncover
potential risks that were not previously identified.
Summary of Monitoring Processes and Outcome: During the
monitoring processes, it was identified that there is a risk of supply
chain disruptions due to the ongoing global transportation challenges.
This risk was initially identified during the risk assessment and analysis
stage and was continuously monitored through regular communication
with suppliers. To mitigate this risk, alternative suppliers and logistics
options were identified and added to the risk response plan. The
project team closely monitored the situation and communicated
regularly with the suppliers to ensure timely delivery of ingredients for
the spice blend. The outcome of this monitoring process was a
successful launch of the new native spice blend without any major
supply chain disruptions, demonstrating the effectiveness of the risk
monitoring and mitigation strategies.

Respond to the changed Responding to the Changed Environment:

environment.
1. Effectiveness and Efficiency of Current Risk Controls and
Are the current risk controls Treatments: To assess the effectiveness and efficiency of the
and treatments effective and current risk controls and treatments, a review of the risk
efficient? management plan and the risk register should be conducted.
How will you respond to the This will help identify any gaps or areas where improvements
changed environment? can be made. By analyzing the historical data and the
outcomes of the risk monitoring processes, it can be
How will you implement one
determined whether the existing controls and treatments
response?
adequately addressed the identified risks or if adjustments are
Attach proof of how you necessary.
implemented one risk
2. Response to the Changed Environment: Based on the
response (e.g. email
changes in the risk environment, such as supply chain
appropriate staff member to
take action, update the project disruptions, the project team should take the following steps to
schedule etc). respond effectively:

Attach your modified Risk a. Reevaluate Risks: Assess the impact of the changed environment
Management Plan (Risk on the previously identified risks. Determine if any new risks have
Register) to this section of emerged or if the severity of existing risks has increased. This
your portfolio. evaluation will help prioritize and allocate resources accordingly.
 b. Review Risk Controls: Evaluate the effectiveness of the existing risk
controls and treatments in light of the changed environment. Identify
any control gaps and determine if additional measures are required to
mitigate or manage the risks more effectively.
c. Adjust Risk Response Strategies: Update the risk response
strategies to align with the current risk environment. This may involve
modifying existing strategies or developing new ones to address
emerging risks. Ensure that the response strategies are practical,
achievable, and consistent with the project objectives.
d. Communicate and Engage: Maintain open communication channels
with relevant stakeholders, including suppliers, to stay informed about
any ongoing changes in the risk environment. Engage in proactive
discussions to collaboratively address challenges and seek alternative
solutions.
3. Implementation of a Risk Response: To implement a risk
response, such as identifying alternative suppliers, the project
manager can take the following steps:
a. Identify the Need: Based on the analysis of the risk environment,
determine the need for an alternative supplier to mitigate the supply
chain disruption risk.
b. Conduct Research: Research and identify potential alternative
suppliers who can provide the required ingredients for the spice blend.
c. Evaluate and Select: Assess the alternative suppliers based on
their reliability, quality of products, pricing, and delivery capabilities.
Select the most suitable option that aligns with the project's
requirements.
d. Communication and Transition: Notify the current supplier of the
intention to switch to an alternative supplier and communicate the
reasons for the decision. Establish communication with the selected
alternative supplier, provide necessary documentation, and initiate the
transition process.

Review outcomes of the Review of Project Outcomes:

project and its risk
The project outcomes for the launch of the new native spice blend
management processes.
should be evaluated to determine the success and achievements.
What were the project Unfortunately, as an AI language model, I don't have access to specific
outcomes? information about the project outcomes of Native Bush Spices
Australia's launch of their new native spice blend. Therefore, I cannot
What risk management issues
provide specific details on the project outcomes. However, I can guide
were faced?
you on the general aspects to consider during the evaluation.
How effective were the risk
1. Sales Performance: Assess the sales performance of the
management processes and
new native spice blend in terms of revenue generated,
procedures?
customer feedback, market penetration, and achievement of
What recommendations can sales targets. Determine if the product met or exceeded the
you make for future risk expected sales performance.
management processes?
2. Customer Satisfaction: Analyze customer satisfaction through
feedback, reviews, and surveys. Evaluate if the product met
customer expectations in terms of taste, quality, packaging,
and value for money.
3. Market Reception: Evaluate the response of the target market
to the new spice blend. Consider factors such as customer
demand, competition, and market share. Determine if the
product gained traction and was well-received in the market.
4. Project Timeline and Budget: Review the project's adherence
to the planned timeline and budget. Assess if the project was
completed within the allocated resources and timeframe.
Review of Risk Management Issues:
Identifying the risk management issues faced during the project is
essential to learn from them and improve future risk management
practices. Some common risk management issues that could be
encountered during the launch of a new product may include:
1. Supply Chain Disruptions: Challenges in sourcing ingredients,
delays in delivery, or inadequate supplier capacity can impact
the production and availability of the spice blend.
2. Quality Control: Issues related to maintaining consistent
quality standards throughout the production process, ensuring
proper storage and handling of ingredients, and meeting
regulatory requirements.
3. Market Competition: Strong competition in the spice market,
including similar products or established brands, can pose
risks to the successful market penetration and sales of the new
native spice blend.
Effectiveness of Risk Management Processes and Procedures:

To determine the effectiveness of the risk management processes and

procedures, a comprehensive evaluation of the risk management
practices implemented during the project is necessary. This evaluation
should consider factors such as:
1. Risk Identification and Assessment: Assess if the initial risk
identification process was thorough and if potential risks were
accurately assessed for their likelihood and impact.
2. Risk Mitigation Strategies: Evaluate the effectiveness of the
risk response strategies employed to mitigate identified risks.
Determine if the strategies were practical, timely, and
adequately addressed the risks.
3. Monitoring and Reporting: Review the regular monitoring
and reporting of risks to determine if there was effective
 communication and tracking of risk status, progress in risk
mitigation actions, and timely updates to stakeholders.
Recommendations for Future Risk Management Processes:
Based on the project's outcomes and risk management experiences,
the following recommendations can be made for future risk
management processes:
1. Enhance Risk Identification: Strengthen the risk
identification process by involving relevant stakeholders and
subject matter experts. Consider conducting comprehensive
risk workshops or brainstorming sessions to capture a broader
range of potential risks.
2. Continuous Monitoring: Implement a robust system for
ongoing risk monitoring and reporting throughout the project.
Ensure regular updates on risk status, track mitigation
activities, and escalate emerging risks promptly.
3. Agile Risk Response: Embrace agility in risk response
strategies to adapt to changing circumstances. Build flexibility
into risk response plans to address unforeseen events and
leverage opportunities.
4. Lessons Learned: Conduct thorough lessons learned
sessions at the end of the project to gather feedback, identify
areas of improvement, and document best practices for future
reference.

Develop one recommended Recommended Improvement for Future Use:

improvement for future use.
One recommended improvement for future risk management
Attach the developed processes in the case of Native Bush Spices Australia's launch of a
improvement to this section of new native spice blend is to implement a Risk Response Plan Review
the portfolio. and Update Cycle. This improvement focuses on regularly reviewing
and updating the risk response plan to ensure its relevance and
effectiveness throughout the project lifecycle.
The steps to implement this improvement are as follows:
1. Establish Review Milestones: Define specific milestones or
intervals during the project where the risk response plan will
be reviewed. These milestones can be aligned with significant
project phases, such as after the completion of each major
deliverable or at the end of each quarter.
2. Conduct Risk Response Plan Reviews: At each review
milestone, gather the project team and key stakeholders to
review the risk response plan. Evaluate the effectiveness of
the existing risk response strategies and assess their
alignment with the current risk environment.
 3. Identify Gaps and Opportunities: During the review process,
identify any gaps or areas where the risk response plan may
be insufficient or outdated. Consider feedback from team
members, lessons learned from previous phases, and
emerging risks that may have been identified since the plan's
creation.
4. Update Risk Response Strategies: Based on the identified
gaps and opportunities, update the risk response strategies as
necessary. Develop new response strategies for any newly
identified risks or modify existing strategies to better address
current risks. Ensure that the response strategies are
practical, achievable, and aligned with the project's objectives.
5. Communicate and Implement Changes: Communicate the
updated risk response plan to the project team and
stakeholders, ensuring that everyone is aware of the changes.
Assign responsibilities for implementing the revised strategies
and ensure that all necessary actions are taken.
6. Monitor and Evaluate: Continuously monitor the
effectiveness of the updated risk response strategies. Track
the progress of risk mitigation activities and assess their
impact on mitigating or controlling risks. Use this feedback to
further refine and improve the risk response plan as needed.
By implementing a structured review and update cycle for the risk
response plan, Native Bush Spices Australia can proactively address
emerging risks and ensure that the risk management approach
remains effective and relevant throughout the project. This
improvement promotes adaptability and responsiveness to the
evolving risk environment, enhancing the chances of project success.

PROJECT 2: Include the name of the Project

Monitor the project risks Project: Supply Chain Optimization

What formal process will you Formal Process for Monitoring Project Risks:
use to monitor the project
1. Risk Register: Develop a risk register at the beginning of the
risks?
project to identify, assess, and document potential risks. This
What informal process will includes listing risks, their likelihood, impact, and proposed
you use to monitor the project mitigation strategies.
risks?
2. Regular Risk Review Meetings: Schedule periodic risk
Summarise the outcomes of review meetings to discuss and evaluate identified risks.
your monitoring processes These meetings involve key stakeholders and team members
(include at least one change who review the risk register, assess the effectiveness of
in the risk environment). mitigation strategies, and update the risk status.
Unless already viewed in 3. Risk Assessment and Analysis: Conduct regular risk
person by your assessor, assessments to identify new risks that may arise during the
attach proof of your formal project. Analyze the project environment, market conditions,
and informal monitoring to and external factors that could impact the supply chain
this section of your portfolio optimization project.
(e.g. photo of you reviewing
4. Risk Monitoring and Reporting: Monitor identified risks and
the project schedule, survey
their mitigation activities. Track progress, update risk status,
etc.).
and generate reports to communicate the risk status to
relevant stakeholders. Regularly review and update the risk
register as needed.
Informal Process for Monitoring Project Risks:
1. Ongoing Communication: Maintain open and regular
communication channels among project team members and
stakeholders to discuss emerging risks or concerns informally.
This can include team meetings, email exchanges, or informal
catch-up sessions.
2. Expert Opinions: Engage subject matter experts within the
organization or industry to gather insights and opinions on
potential risks. Informal discussions can help identify risks that
may not be captured through formal processes.
3. Lessons Learned Sessions: Conduct sessions after project
milestones or phases to collect feedback from team members.
Informal feedback mechanisms can uncover potential risks
that were not previously identified.
Summary of Monitoring Processes and Outcome: Through the
monitoring processes, it was identified that there is a significant risk of
supplier disruptions due to the ongoing global supply chain challenges,
impacting the supply chain optimization project. This risk was initially
identified during the risk assessment and analysis stage and was
continuously monitored through regular communication with suppliers
and market research. To mitigate this risk, alternative suppliers and
contingency plans were identified and added to the risk response plan.
The project team closely monitored the situation and communicated
regularly with suppliers to ensure timely delivery and availability of
resources. The outcome of this monitoring process was a successful
implementation of supply chain optimization, overcoming supplier
disruptions and maintaining continuity of operations, demonstrating
the effectiveness of the risk monitoring and mitigation strategies.
Respond to the changed However, I can provide you with general guidance on how to respond
environment to the changed environment and implement risk responses in a
supply chain optimization project.
Are the current risk controls
and treatments effective and 1. Evaluating Current Risk Controls and Treatments: To
efficient? determine the effectiveness and efficiency of your current risk
controls and treatments, you can follow these steps: a. Review
How will you respond to the
the identified risks in your Risk Register. b. Assess whether
changed environment?
the implemented controls and treatments adequately address
How will you implement one those risks. c. Evaluate the efficiency of the controls in terms
response? of cost, time, and resources required. d. Gather feedback from
Attach proof of how you stakeholders, team members, and experts involved in the
implemented one risk supply chain optimization project.
response (e.g. email 2. Responding to the Changed Environment: After evaluating
appropriate staff member to the current risk controls and treatments, you can identify
take action, update the project necessary adjustments to respond to the changed
schedule etc). environment. This can include: a. Identifying new risks that
Attach your modified Risk have emerged due to the changed environment. b. Updating
Management Plan (Risk existing risk controls and treatments to address the new risks.
Register) to this section of c. Implementing additional risk controls and treatments as
your portfolio. needed. d. Ensuring that the risk responses align with the
organization's objectives and resources.
3. Implementing a Risk Response: To implement a risk
response, you can follow these general steps: a. Identify the
specific risk you want to address and determine the
appropriate response strategy (e.g., avoid, mitigate, transfer,
accept). b. Assign responsibility to a staff member who will be
accountable for implementing the response. c. Communicate
the risk response plan to the appropriate stakeholders,
ensuring everyone understands their roles and
responsibilities. d. Monitor the implementation of the
response, track progress, and make any necessary
adjustments. e. Document the implemented response in your
Risk Management Plan and update the Risk Register
accordingly.
Review outcomes of the I can provide you with some general guidance on reviewing project
project and its risk outcomes and risk management processes. You can adapt this
management processes. information to your case study.
What were the project 1. Project Outcomes: To review the project outcomes,
outcomes? consider the following points:
What risk management issues  Did the project achieve its goals and objectives?
were faced?
 Were the desired improvements in the supply chain
How effective were the risk optimization realized?
management processes and
 Did the project deliver the expected benefits, such as
procedures?
increased efficiency, cost savings, or customer satisfaction?
What recommendations can
you make for future risk  Were there any unexpected outcomes or deviations from the
initial project plan?
management processes?
2. Risk Management Issues: Identify the risk management
issues that were faced during the project. This could include:

 Risks that materialized and had a negative impact on the

project's objectives.

 Instances where risk controls and treatments were

insufficient or ineffective.
 Challenges in identifying, assessing, or communicating risks.

 Lack of stakeholder engagement or awareness regarding risk

management.
3. Effectiveness of Risk Management Processes and
Procedures: Evaluate the effectiveness of the risk
management processes and procedures that were
implemented during the project. Consider the following
aspects:

 Were risks properly identified and assessed?

 Were appropriate risk responses developed and

implemented?

 Were the risk mitigation efforts successful?

 Was there effective monitoring and tracking of risks throughout

the project lifecycle?

 Did the risk management processes contribute to the overall

success of the project?
4. Recommendations for Future Risk Management
Processes: Based on the review, provide recommendations
for improving future risk management processes. These
suggestions may include:

 Enhancing the risk identification and assessment methods to

capture a broader range of potential risks.

 Improving communication and engagement with stakeholders

to ensure their involvement in risk management activities.

 Strengthening the implementation of risk response strategies

and closely monitoring their effectiveness.

 Regularly reviewing and updating the Risk Management Plan

and Risk Register throughout the project.

 Conducting periodic reviews and lessons learned sessions to

continually improve risk management practices.
5. Recommended Improvement for Future Use: Develop one
recommended improvement for future risk management
processes. This improvement should address a specific area
or issue identified in the review. Unfortunately, as an AI text-
based model, I am unable to directly attach files or documents.
However, you can create a separate document outlining the
recommended improvement and include it in your portfolio.
Develop one recommended
improvement for future use.

Attach the developed

improvement to this section of
the portfolio.

Attach: Proof of formal monitoring process (project 1) ☐

Proof of informal monitoring process (project 1) ☐

Proof of implemented risk response (project 1) ☐

Modified Risk Management Plan (project 1) ☐

Modified Risk Register (project 1) ☐

Risk Response Plan template ☐

Proof of formal monitoring process (project 2) ☐

Proof of informal monitoring process (project 2) ☐

Proof of implemented risk response (project 2) ☐

Modified Risk Management Plan (project 2) ☐

Modified Risk Register (project 2) ☐

Risk Management Communication Plan template (project

☐
2)
Assessment Task 2: Checklist

Student’s name:

Completed
successfully? Comments

Did the student: Yes No

Provide background information,

including:
Summary of the organisation’s broader
work goals (at least two).
A brief description of their role and
responsibilities within your
organisation.
Explanation of how their role contributes
to the organisation’s broader work
goals (including project risk
management).
The project context for two projects.

Summarise project risk management

processes, including:
Any applicable standards related to risk.
Objectives related to managing risk.
policies and procedures relating to risk
(including any templates), including:
project risk classification criteria
the risk ranking system
Risk review processes (formal and
informal).
Conventions and protocols for
communicating with internal and
external stakeholders.

Risk identification methods that may be

used to identify project risks (at
least two).
For two separate projects meet with an
appropriate stakeholder to agree on the
risk management process, including:
Confirming the boundaries of their
delegated authority.
Seeking the stakeholder’s input for risk
objectives and standards.
Agreeing on classification criteria and a
risk ranking system to apply to the
project’s risks.
Brainstorming possible risks for the
project.
Agreeing on possible appropriate risk
treatments/responses for a variety
of circumstances and risks.
Agreeing on the consultative methods to
be used when analysing risk
treatment options.

For two separate projects, use a method

other than brainstorming to further
identify project risks (seeking input from
an external stakeholder).

For two separate projects, write a draft

Risk Management Plan (including a Risk
Register) that includes:
classification of each risk
Application of the agreed risk ranking
system to determine the risk
likelihood, severity and risk rating.
Identification of risk priorities.
Identification of potential outcomes
(threats and opportunities)
associated with each risk (at least
one per risk).
Risk treatments for the potential
outcomes (at least one per risk).
For two separate projects, use an
appropriate consultative method (as
previously agreed to) to consult with at
least two relevant stakeholders to:
Agree on risk priorities.
Analyse the risk treatment options to
choose the best way forward.

For two separate projects, update their

draft Risk Management Plan and Risk
Register to incorporate:
The input provided by the stakeholders
during the consultative process.
Risk responsibilities.

For two separate projects, implement the

one of the agreed risk treatments.
For two separate projects, monitor the
project risks including:
using formal and informal monitoring
processes
Identifying at least one changed
circumstance impacted the project
risks.

For two separate projects, respond to

the changed environment, including:
evaluating the risk controls/treatments
that were initially agreed on to
determine whether they are still
appropriate for the changed
circumstances
Altering the required response or
creating a new response for any
additional risks (if required).
modifying their Risk Management Plan
(and Risk Register) to reflect the
changes
Implementing one of the responses.

For two separate projects, review the

project outcomes including:
a summary of:
the outcomes of the project
any risk management issues faced
during the project (at least one)
the effectiveness of the risk
management processes and
procedures (for all phases of
the project)

Recommendations for
improvements to the risk
management processes.
Developing at least one recommended
improvement.
Demonstrate effective oral
communication including:

 speaking clearly and concisely

 asking questions to identify required

information

 responding to questions as required

 Using active listening techniques to

confirm understanding.

Task outcome: Satisfactory Not yet satisfactory

Assessor signature:

Assessor name:

Date:
 Final results record

Student name:

Assessor name:

Date

Final assessment results

Result

Not Yet
Task Type Satisfactory Satisfactory Did not submit

Assessment Task 1 Knowledge questions S NYS DNS

Assessment Task 2 Project Portfolio S NYS DNS

Overall unit results C NYC

Feedback
My performance in this unit has been discussed and explained to me.
I would like to appeal this assessment decision.

 ______________________________________________________ Student signature: ______

___________________________________________________ Date:
I hereby certify that this student has been assessed by me and that the assessment has been carried out
according to the required assessment procedures.

Assessor signature