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Elements and Performance Criteria

  1. Determine project risks
  2. Monitor and control project risks
  3. Assess risk management outcomes

Evidence Required

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge range statement and the Assessment Guidelines for the Training Package

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential

demonstrated evidence of effective risk management for multiple complex projects

knowledge of risk management techniques strategies and tools

Context of and specific resources for assessment

Assessment must ensure

access to workplace risk management documentation

consideration of feedback from project stakeholders as to how risks were managed

Method of assessment

A range of assessment methods should be used to assess practical skill and knowledge The following examples are appropriate for this unit

direct questioning combined with review of portfolios of evidence and third party workplace reports of onthejob performance by the candidate

oral or written questioning to assess knowledge of the risk management framework

analysis of responses in addressing case studies and scenarios which present project scope management issues and problems

review of risk management plans

evaluation of monitoring of progress against project plans

assessment of identified and documented risk issues and recommended improvements

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector workplace and job role is recommended for example

other units in the Diploma of Project Management

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Risks may be:

actual

likely/probable

perceived

potential

Risk management techniques and tools may include:

calling upon personal experience and/or subject matter experts

conducting or supervising qualitative and/or quantitative risk analysis, such as schedule simulation, decision analysis, contingency planning and alternative strategy development

using specialist risk analysis tools to assist in the decision making process

Delegated authority refers to planning and activities that may:

be conducted routinely or as changing circumstances dictate

be done independently within broad guidance or by taking the lead of a team

involve consultation with other project members, teams and internal stakeholders

involve the selection, use and supervision of appropriate risk management methods, tools and techniques

Risk management processes and procedures may include:

communication with stakeholders, dispute resolution and modification procedures

implementation of risk control trigger mechanisms

measurement of actual progress against planned milestones

recording and reporting of major variance

setting key milestones at significant points during the project and at completion

Recommended responses to variations may be made:

in consultation with project team members, section heads, project manager and stakeholders

independently or with higher project authority endorsement if necessary

regularly throughout the project life cycle

taking into account internal organisational change and external environmental change