Project Risk Management Assessment Guide for BSBPMG426

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 1 of 64 Released: September 2023 Document uncontrolled when printed ASSESSMENT TASK 2 of 2 Role play and Project Qualification Code BSB40920 Qualification Name Certificate IV in Project Management Practice Unit Code BSBPMG426 Unit Name Apply project risk management techniques Approximate time to complete Up to 3 hours per week from Weeks 7 to 10 can be required to complete this assessment Task Submission information Student’s name AIS number Assessment is submitted ☐ Hardcopy ☐ Moodle ☐ Other: Student Agreement and Declaration I understand and agree to the requirements of the assessment, how I am being assessed, my right to appeal the decisions made in the assessment outcome. I have read the “Academic misconduct Policy” available at www.aischool.edu.au . I declare that this assessment submission is of my own work and that it was not completed by any other person. I understand that if I am found to be in breach of this, disciplinary action may be taken as outlined in the Student Assessment Policy which is available at www.aischool.edu.au . Student Signature:  Date: Results Summary - Assessor to complete This assessment submission attempt is FIRST SECOND AIP (FINAL) The result of this Assessment is The Overall Assessment Result is NYS S R & NYS Important Notes: Resubmission (R) and or Practical DUE BY DATE: This is the last and final Assessment for the Unit UNIT Competency Result NYC C Resulted Date: Assessors Signature:

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 2 of 64 Released: September 2023 Document uncontrolled when printed Student Assessment Feedback Assessor’s name: Feedback: Declaration : I declare that I have conducted a fair, valid, reliable and flexible assessment with this student, and I have provided the appropriate feedback. Signature:  Date: / / Student’s feedback (optional) Comments: Declaration : I declare that I have been assessed in this unit, have been advised of my result and provided with feedback. I have been advised of and am aware of my appeal rights. Signature:  Date: / /

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 3 of 64 Released: September 2023 Document uncontrolled when printed Introduction This assessment task is the two of two tasks you are required to complete as part of this unit. Student must read the Assessment Policy available at www.aischool.edu.au: Some important information about assessment completion are: • Students must attempt all of the questions within an assessment, otherwise a Not Yet Satisfactory (NYS) will be given. Unanswered questions will cause the assessment to result as NYS. • Assessments that are not received by their DUE dates or attempted will be resulted as Not Attempted (NA) and count as an attempt. • Students can only submit their Third and make Final attempt during Re-Assessment Week in week 12 of the Term the unit was delivered. • Students who have not attempted the assessments and as a result do not achieve a Competent (C) result for the unit delivered in a term are required to redo the unit. • Students who are required to re-do a unit may have to extend the duration of their CoE at their own expense and that application themselves. This assessment forms part of a suite of two assessments that you will complete in fulfilment of the requirements for the unit BSBPMG426 Apply project risk management techniques. You are required to complete all tasks satisfactorily to demonstrate overall competence in this unit. Assessment Task About this task Assessment Task 1: Written Questions For this assessment task you are required to correctly answer a series of short answer questions. Assessment Task 2: Role Play and Project For this assessment task (Role Play) you will: • Assisting with risk analysis and planning • Risk control activities For this assessment task (Project) you will: • report on risk control activities and risk management activities. • role play on reporting risk management issues and responses to others. You are required to complete several tasks relating to some of the skills and knowledge requirements outlined in the unit. Specifically, your ability to: • assist project managers in identifying and prioritising potential risks and developing risk- management strategies, plans and reporting mechanisms • apply, monitor, and review risk-control measures, including contingency measures to mitigate risks

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 4 of 64 Released: September 2023 Document uncontrolled when printed • evaluate, review and report on risk-management processes and make recommendations for future improvements. Assessment context 1. This assessment task requires you to complete a role play. 2. In this assessment task you must perform a role play on: a. Assisting with risk analysis and planning. b. Risk control activities. 3. You must attempt all activities of the project for your trainer/assessor to assess your competency in this assessment task. 4. This assessment task can be completed either in or outside a classroom environment. 5. All documents completed and submitted as part of this assessment need to be completed by the you, this includes when you are collaborating with other students. 6. Due dates for each assessment will vary. Your assessor will advise you of the due date for this assessment.

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 5 of 64 Released: September 2023 Document uncontrolled when printed Purpose of assessment This assessment task is designed to evaluate student’s following skills and abilities: • Skills to use established risk analysis methods, tools, and techniques to identify and prioritise potential risks throughout the project life cycle. • Skills to use established guideline to develop risk management strategies and plans. • Skills to assist in developing and implementing risk reporting mechanisms. • Skills to advise project managers of changing circumstances through monitoring risks. • Skills to assist in reviewing contingency plans on an ongoing basis and allocate tasks to individuals after clarifying with project manager before implementation. • Skills to identify opportunities same way as risks are identified. • Reading skills to collect, review, interpret/understand and analyse/review complex textual information from a range/number of sources. • Written and oral/speech communication skills to organise and deliver information to effectively communicate on assisting with risk analysis and planning to a range of stakeholders/interested people. • Skills to work independently/freely as well as collaboratively/together to make decisions about risk analysis and planning. • Skills to interact/cooperate with others using appropriate conventions/systems when communicating to, and consulting/discussing with stakeholders/interested parties. • Ability/Skills to sequence/in order and schedule/plan activities and manage communication. • Skills to analyse relevant/appropriate information to identify scope/range of work, goals, and objectives and to evaluate/review options/other choices.

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 6 of 64 Released: September 2023 Document uncontrolled when printed Assessment instructions • This is an individual assessment. • To ensure your responses are satisfactory you should consult a range of learning resources and other information such as handouts, textbooks, learner resources etc. • Your writing must be concise, to the point, not provide irrelevant information and according to the word limit given. • This activity will require you to participate in role play, assuming the role of Mark, project manager for the given scenario. • You must schedule a suitable time for the roleplay and get the approval of the assessor. • A roleplay session should be planned for 20 to 25 minutes. • You should complete the tasks as per the given scenario. • You must write your responses as per the given templates. • Your assessor will assess your work according to the given performance criteria/ performance checklist. Assessment environment The assessment can be completed in one of the following assessment environments: • Online environment • Simulated environment/ Classroom environment

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 7 of 64 Released: September 2023 Document uncontrolled when printed Online Environment Assessment task instructions • The purpose of this assessment task is to assist with aspects of risk management in a project. • The student must use the templates provided to document their responses. • The student must follow the word limits specified in the templates. • The trainer/assessor must assess the student using the performance checklist provided. Online environment requirements Assessment task environment This assessment task will be completed in an online environment. All required resources to complete the assessment task will be discussed with the student before they commence the assessment. The online environment is very much like a learning environment where a student is able to practice, use and operate appropriate industrial equipment, techniques, practices under realistic workplace conditions. Requirements for the online assessment environment The trainer/assessor will ensure that the online assessment environment is set up to complete this assessment task. The online environment consists of: • A learning management system where the student will be required to complete their job- related tasks and activities • The standard operating/workplace procedures related to the tasks and activities. • The trainer/assessor will provide the student with assistance throughout the assessment activity. The online environment must meet the following criteria: Opportunities for the student to: Yes/No/NA Follow standard operating/workplace procedures Use up-to-date software and equipment

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 8 of 64 Released: September 2023 Document uncontrolled when printed Work within stated timelines to meet deadlines Gain experience in the challenges and complexities of dealing with multiple tasks Experience prioritising competing tasks and dealing with contingencies The environment to work with others in a team Online assessment environment sufficient to communicate, contribute and participate in tasks and activities. Assessment environment sufficient to work independently and manage workload Resources, tools, and equipment requirements The following resources, tools and equipment required to complete the assessment task will be discussed with the student before they commence the assessment: • Workplace personnel/stakeholders to participate in the questioning session requires active participation in a range of creative thinking activities o Please refer to the roles and responsibilities section for more information o This should be organised by the training organisation either via, LMS, telephone conferences, video conferencing or anything of a similar nature • project management documentation for risk management • workplace risk management policies and procedures. Online assessment scenario You are required to assist with aspects of risk management in a project. You are required to read and understand a predetermined issue and/or situation and participate in a number of assessment activities. The following are the goals and objectives to complete this assessment task: • Assist with risk analysis and planning • Identify project deliverables, objectives, and resources

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 9 of 64 Released: September 2023 Document uncontrolled when printed • Identify and prioritise potential and actual risks of project, and advise project manager • Establish with relevant personnel risk-analysis methods, techniques, and tools • Contribute to developing risk management strategies, approaches and plans according to organisational policies and procedures • Contribute to developing and implementing risk-reporting mechanisms • Review risks and execute risk-control activities • Monitor actual and potential risks according to agreed project and risk management plans and advise project manager of changing circumstances • Identify opportunities and changing environment for project activities, and advise project manager • Contribute to amending project and risk management plans and confirming plans reflect the changing environment • Contribute to reporting opportunities for risk control • Develop contingency plan • Contribute to corrective action on risks according to risk management plan and delegated authority • Contribute to review of contingency plans on an ongoing basis • Confirm tasks allocated to individuals and teams are agreed with supervisor before implementation • Apply and monitor risk-contingency measures • Contribute to assessing risk management outcomes • Contribute to ongoing review of project outcomes and determine effectiveness of risk management activities • Seek feedback and identify risk management issues • Report risk management issues and responses to relevant stakeholders • Make changes to project management techniques based on feedback received A supervisor will be assigned to you by your training organisation. The supervisor can answer your questions related to understanding the requirements associated with the assessment task. The supervisor will act according to job role and responsibilities. The supervisor can be your trainer or assessor or a different trainer or assessor or a staff member (including mentors) from the training organisation. Roles and responsibilities As part of your job role, you have the following job responsibilities: • Applies appropriate strategies to construct meaning from complex texts

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 10 of 64 Released: September 2023 Document uncontrolled when printed • Documents results of analyses using required organisational formats • Contribute to project documentations using structure and vocabulary appropriate to audience, context, and purpose • Participates in a range of verbal exchanges using clear language and non-verbal features to provide relevant information • Uses active listening and questioning techniques to elicit views and opinions of others • Identifies responsibilities of own role in terms of its contribution to broader goals of work environment • Selects appropriate communication protocols in a range of work contexts • Collaborates and cooperates with others to achieve shared goals • Sequences and schedules required tasks and activities and manages relevant communication • Identifies outcomes to identify opportunities for future improvement. Task requirements This assessment task requires you to assist with aspects of risk management in a project. The assessment activities are mentioned within the assessment task.

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 11 of 64 Released: September 2023 Document uncontrolled when printed Simulated Environment Assessment task instructions • The purpose of this assessment task is to assist with aspects of risk management in a project. • The student must use the templates provided to document their responses. • The student must follow the word limits specified in the templates. • The trainer/assessor must assess the student using the performance checklist provided. Simulated environment requirements Assessment task environment This assessment task will be completed in a simulated environment prepared by your training organisation. The simulated environment will provide you with all the required resources (such as the equipment and participants, etc.) to complete the assessment task. The simulated environment is very much like a learning environment where a student is able to practice, use and operate appropriate industrial equipment, techniques, practices under realistic workplace conditions. Requirements for the simulated assessment environment The trainer/assessor will ensure that the simulated assessment environment is sufficient to complete this assessment task. The simulated environment consists of: • The training organisation as the workplace where the student will be required to complete their job-related tasks and activities • The standard operating/workplace procedures related to the training organisation • The trainer/assessor will provide the student with assistance throughout the assessment activity. The simulated environment must meet the following criteria: Opportunities for the student to: Yes/No/NA Follow standard operating/workplace procedures Use up-to-date software and equipment

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 12 of 64 Released: September 2023 Document uncontrolled when printed Work within stated timelines to meet deadlines Gain experience in the challenges and complexities of dealing with multiple tasks Experience prioritising competing tasks and dealing with contingencies Simulated environment to work with others in a team Simulated environment sufficient to communicate, contribute and participate in tasks and activities. Simulated environment sufficient to work independently and manage workload Resources, tools, and equipment requirements The following resources, tools and equipment will be made available by the training organisation at the simulated workplace to complete this assessment task: • Workplace personnel/stakeholders to participate in the questioning session requires active participation in a range of creative thinking activities o Please refer to the roles and responsibilities section for more information • project management documentation for risk management • workplace risk management policies and procedures. Simulated assessment scenario You are required to assist with aspects of risk management in a project. You are required to read and understand a predetermined issue and/or situation and participate in a number of assessment activities. The following are the goals and objectives to complete this assessment task: • Assist with risk analysis and planning • Identify project deliverables, objectives, and resources • Identify and prioritise potential and actual risks of project, and advise project manager • Establish with relevant personnel risk-analysis methods, techniques, and tools

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 13 of 64 Released: September 2023 Document uncontrolled when printed • Contribute to developing risk management strategies, approaches and plans according to organisational policies and procedures • Contribute to developing and implementing risk-reporting mechanisms • Review risks and execute risk-control activities • Monitor actual and potential risks according to agreed project and risk management plans and advise project manager of changing circumstances • Identify opportunities and changing environment for project activities, and advise project manager • Contribute to amending project and risk management plans and confirming plans reflect the changing environment • Contribute to reporting opportunities for risk control • Develop contingency plan • Contribute to corrective action on risks according to risk management plan and delegated authority • Contribute to review of contingency plans on an ongoing basis • Confirm tasks allocated to individuals and teams are agreed with supervisor before implementation • Apply and monitor risk-contingency measures • Contribute to assessing risk management outcomes • Contribute to ongoing review of project outcomes and determine effectiveness of risk management activities • Seek feedback and identify risk management issues • Report risk management issues and responses to relevant stakeholders • Make changes to project management techniques based on feedback received A supervisor will be assigned to you by your training organisation. The supervisor can answer your questions related to understanding the requirements associated with the assessment task. The supervisor will act according to job role and responsibilities. The supervisor can be your trainer or assessor or a different trainer or assessor or a staff member (including mentors) from the training organisation. Roles and responsibilities As part of your job role, you have the following job responsibilities: • Applies appropriate strategies to construct meaning from complex texts • Documents results of analyses using required organisational formats

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 14 of 64 Released: September 2023 Document uncontrolled when printed • Contribute to project documentations using structure and vocabulary appropriate to audience, context, and purpose • Participates in a range of verbal exchanges using clear language and non-verbal features to provide relevant information • Uses active listening and questioning techniques to elicit views and opinions of others • Identifies responsibilities of own role in terms of its contribution to broader goals of work environment • Selects appropriate communication protocols in a range of work contexts • Collaborates and cooperates with others to achieve shared goals • Sequences and schedules required tasks and activities and manages relevant communication • Identifies outcomes to identify opportunities for future improvement. Task requirements This assessment task requires you to assist with aspects of risk management in a project. The assessment activities are mentioned within the assessment task.

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 15 of 64 Released: September 2023 Document uncontrolled when printed Assessment Task: Role Play Background of the company: Mel tunnels pty ltd is a civil engineering company that specialises in projects that range from repetitive to unique; retail stores, housing developments, office buildings, etc., are almost identical from project to project. Underground projects like tunnels, chambers, deep open cut foundations, are always unique for the company. New project: Mel tunnels has recently got a new project which involves developing a twin tunnel with a parallel alignment 3 meters apart from each other connecting car park of the shopping complex with the main road. Risk factors: Risk in underground construction can lead to catastrophic failures as a collapse in an urban area can dramatically affect buildings at the surface. Undetected methane gas can cause an explosion endangering the crew. A Tunnel Boring Machine (TBM) in squeezing ground might get stuck if logistics delay lining support to be in place immediately. A minuscule unsupervised drainage trench in a Sequential Excavation Method (SEM) tunnel can change the flow of water around the invert of the tunnel inducing collapse. The main bearing of a TBM can break in the middle of the alignment or unexpected water reservoir flood the tunneling front endangering crew and losing the TBM. Besides the collapse risks involved, other risks are projects going over the budget and over the set schedule. Mark is the project manager for the new project involving the development of the twin tunnel. Mark planned meetings with his team to analyse the risks involved. Attendees at the meeting included the selected team members and stakeholders, anyone in the organisation with responsibility to manage the risk planning and execution activities, and others, as needed. High level plans for conducting risk management activities are defined in these meetings. Risk management cost elements and schedule activities will be developed for inclusion in the project budget and schedule, respectively. Risk contingency reserve applications approaches may be established or reviewed. Techniques and tools used to identify potential risks throughout the project life cycle: 1. Documentation reviews: Mark and his team performed a structured review of project documentation, including plans, assumptions, previous project files, contracts and other information. The quality of the plans as well as consistency between those plans and project requirements and assumptions, can be indicators of risk in the project. 2. Information gathering techniques. Brainstorming, Delphi technique, Interviewing and root cause analysis.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 16 of 64 Released: September 2023 Document uncontrolled when printed 3. Checklist analysis: Risk identification checklist is developed based on historical information and knowledge that has been accumulated from previous similar projects and from other sources of information 4. Assumption analysis: Assumption analysis is performed to identify risk to the project from inaccuracy, instability, inconsistency or incomplete of assumptions. 5. Diagramming techniques: Risk diagramming techniques may include but not limited to: • Cause and effect. Such as Ishikawa or fishbone diagrams • System or process flow charts • Influence diagrams 6. SWOT Analysis is also performed on the project to estimate risk by Mark and his team. Qualitative risk analysis: Mark and his team planned qualitative risk analysis. It is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact. Inputs in qualitative analysis included: 1. Risk register 2. Risk management plan; key elements of risk management plan for performing qualitative risk analysis include roles and responsibilities for conducting risk management, budgets, schedule activities for risk management, risk categories, definition of probability and impact, the probability and impact matrix, and revised stakeholders risk tolerance. 3. Project scope statement 4. Organisational Process assets e.g. information on prior, similar completed projects. Quantitative risk analysis Quantitative risk analysis is planned by Mark and his team. This is the process of numerically analysing the effect of identified risks on overall project objectives. It is done on risks that have been prioritized by the perform qualitative risk analysis as potentially and substantially impacting the projects competing demands. It also presents a quantitative approach to making decisions in the presence of uncertainty. Inputs in quantitative analysis include: 1. Risk register 2. Risk management plan 3. Cost management plan

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 17 of 64 Released: September 2023 Document uncontrolled when printed 4. Schedule management plan 5. Organisational process assets Development of risk management plan and strategies at Mel tunnel: The risk management plan will contain an analysis of likely risks with both high and low impact, as well as mitigation strategies to help the project avoid being derailed should common problems arise. Risk management plans will be periodically reviewed by the project team to avoid having the analysis become stale and not reflective of actual potential project risks. Following potential strategies, with numerous variations are planned: • Avoid risk – Change plans to circumvent the problem. • Control/Mitigate risk; – Reduces impact or likelihood (or both) through intermediate steps. • Accept risk – Take the chance of negative impact (or auto-insurance), eventually budget the cost (e.g. via a contingency budget line). • Transfer risk – Outsource risk (or a portion of the risk – Share risk) to third party or parties that can manage the outcome. This will be done financially through insurance contracts or hedging transactions, or operationally through outsourcing an activity. • Exploit risk – Allow risk to happen and use the benefits it can bring. This strategy will work if risk has a positive impact on business development. Risk reporting mechanism Mark decided that Mel tunnels will report on progress against the risk management plan by proving how well the risk management policy is being followed, to ensure that risk management is effective and continues to support organisational performance. More specifically: 1. The results from risk monitoring and review will be recorded and reported internally and externally, if appropriate. 2. Development in implementation of risk treatment plans will be incorporated into the organisation's overall performance management, measurement, and internal and external reporting activities, as a performance measure. 3. Enhanced risk management includes continual communications with external and internal stakeholders, including comprehensive and frequent reporting of risk management performance, as a part of good governance.

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 18 of 64 Released: September 2023 Document uncontrolled when printed Risk monitoring Monitoring and review should be a planned part of the risk management process and involve regular checking or surveillance. The results should be recorded and reported externally and internally, as appropriate. The results should also be an input to the review and continuous improvement of the firm's risk management framework. Responsibilities for monitoring and review should be clearly defined. The firm's monitoring and review processes should encompass all aspects of the risk management process for the purposes of: • Ensuring that controls are effective and efficient in both design and operation • Obtaining further information to improve risk assessment • Analysing and learning lessons from risk events, including near-misses, changes, trends, successes, and failures • Detecting changes in the external and internal context, including changes to risk criteria and to the risks, which may require revision of risk treatments and priorities • Identifying emerging risks. Contingency planning Mark planned contingency plan as following: 1. Set up of a contingency planning committee. 2. Asking for plans for the hours after a disaster. 3. Planning for one to three days after the disaster. 4. Giving details for the months after a disaster. 5. Requesting the committee to report throughout the planning process. Adam, the General manager of Mel tunnel contacted Mark and asked him to give details about potential risks involved in the project. Role Play Task: Part A) Student must assume the role of Mark and perform a role play on assisting with risk analysis and planning. Trainer / Assessor will take on the role of Adam, General manager and two (2) other students will take on the role of appropriate stakeholders. Role play must cover the following points: 1: Identify and prioritise potential risks in the project using established tools and techniques. 2: Develop management strategies, contingency plans, and risk management plans for the identified risks in the project. 3: Discuss about appropriate risk reporting mechanisms and their implementation strategy.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 19 of 64 Released: September 2023 Document uncontrolled when printed Role play Mark (Project Manager): Good morning, everyone. Thank you for attending this risk analysis and planning meeting for our new twin tunnel project. I'd like to start by discussing the potential risks associated with this project. We need to identify and prioritize these risks to develop effective strategies for risk management. Stakeholder 1: Mark, I think one of the significant risks is the potential for a tunnel collapse. It can have catastrophic consequences. Stakeholder 2: I agree with Stakeholder 1. Collapses are a serious concern. Another risk is undetected methane gas, which could lead to an explosion. Adam (General Manager): Those are certainly crucial risks to consider. We can't afford any mishaps in this project. Mark, what tools and techniques are we using to identify these risks? Mark: We're using a variety of methods, Adam. First, we've conducted documentation reviews to check project plans, assumptions, and contracts. We've also employed information gathering techniques like brainstorming, Delphi technique, interviews, and root cause analysis. Stakeholder 1: Additionally, we've developed a risk identification checklist based on historical data and assumptions analysis to uncover potential risks stemming from inaccuracies or inconsistencies in our project assumptions. Stakeholder 2: We've also utilized diagramming techniques, such as cause and effect diagrams, system or process flow charts, and influence diagrams, to visually represent and analyze these risks. Mark: And we've performed a SWOT analysis to estimate risk comprehensively. Now, let's talk about qualitative and quantitative risk analysis. We plan to prioritize the identified risks based on their probability and impact. Adam: That's a good approach. We need to know which risks require immediate attention. After that, how do we develop risk management plans and strategies? Mark: Well, we'll create a risk management plan that includes an analysis of likely risks, both high and low impact. We'll also outline mitigation strategies to keep the project on track if problems arise. We'll periodically review these plans to ensure they stay up-to-date. Stakeholder 1: As for strategies, we have several options. We can avoid risk by changing our plans to prevent issues. We can control or mitigate risk by taking intermediate steps to reduce their impact or likelihood. We can accept some risk, budgeting for potential negative impacts, and transfer certain risks to third parties through insurance or outsourcing. Stakeholder 2: We can also exploit risks when they have a positive impact on business development. This depends on the nature of the risk.

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 20 of 64 Released: September 2023 Document uncontrolled when printed Adam: Great, that covers risk management plans and strategies. Lastly, how do we report on our risk management progress? Mark: We'll report on our progress by recording the results of risk monitoring and review internally and externally, as needed. We'll incorporate the development in risk treatment plans into our overall performance management and reporting activities. Additionally, we'll maintain frequent communications with internal and external stakeholders, ensuring comprehensive reporting as part of good governance. Stakeholder 1: This way, we can ensure that our risk management is effective and continues to support our organizational performance. Adam: Excellent. Mark, it's reassuring to see such a thorough approach to risk management. I'm confident that with these strategies in place, we can tackle this twin tunnel project successfully. Thank you all for your valuable contributions. Mark: Thank you, Adam. We're committed to managing these risks effectively and ensuring the project's success. Template1: I. Applying project risk management techniques Potential risks Identified Potential risks Potential Risks: 1. Tunnel Collapse: The risk of a tunnel collapse due to ground instability. 2. Undetected Methane Gas: The possibility of methane gas going undetected, posing an explosion risk. 3. TBM Squeezing Ground: The risk of the Tunnel Boring Machine (TBM) getting stuck in squeezing ground. 4. Unsupervised Drainage Trench: The risk of an unsupervised drainage trench causing water flow changes and tunnel collapse. 5. TBM Main Bearing Failure: Potential failure of the TBM's main bearing. 6. Unexpected Water Reservoir: The risk of an unexpected water reservoir flooding the tunnel.

Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 21 of 64 Released: September 2023 Document uncontrolled when printed Prioritised risks and the criteria used To prioritize these risks, we'll consider a combination of their probability of occurrence and potential impact on the project. We'll use a risk matrix to assign a risk score to each risk, and those with the highest scores will be the top priorities. Management strategies 1. Tunnel Collapse: We'll employ advanced ground stability assessment techniques and closely monitor the tunnel's structural integrity. 2. Undetected Methane Gas: Continuous monitoring and gas detection systems will be in place to promptly identify and mitigate any methane gas presence. 3. TBM Squeezing Ground: We'll establish a strict schedule for lining support installation to prevent TBM entrapment. 4. Unsupervised Drainage Trench: Implement a rigorous trench supervision plan to ensure proper water flow management. 5. TBM Main Bearing Failure: Regular maintenance and inspection of the TBM to identify potential bearing issues and address them in a timely manner. 6. Unexpected Water Reservoir: Develop a comprehensive water reservoir detection and management plan, including contingency measures for flood prevention.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 22 of 64 Released: September 2023 Document uncontrolled when printed Contingency plans For each prioritized risk, we will have corresponding contingency plans in place: 1. Tunnel Collapse: Evacuation and emergency response plan, along with structural reinforcement options. 2. Undetected Methane Gas: Evacuation procedures and gas detection alarms for crew safety. 3. TBM Squeezing Ground: Rapid response team for TBM extraction and support installation. 4. Unsupervised Drainage Trench: Trench supervision and immediate corrective measures. 5. TBM Main Bearing Failure: Spare parts inventory and a backup TBM for critical situations. 6. Unexpected Water Reservoir: Flood prevention measures, including drainage systems and emergency pumps. Risk management plan The risk management plan will be a comprehensive document that outlines all the potential risks, their prioritization, management and contingency strategies, as well as the responsibilities of the team members involved.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 23 of 64 Released: September 2023 Document uncontrolled when printed Risk reporting mechanism and implementation plan We will implement a risk reporting mechanism that includes regular updates to stakeholders and team members. We will schedule monthly risk review meetings to assess the effectiveness of our risk management strategies and make necessary adjustments. In case of a critical risk event, an immediate report will be generated, and an emergency response team will be activated. This structured approach to risk management ensures that we are well- prepared to address potential challenges in the twin tunnel project and maintain a high level of safety and efficiency throughout its execution. Part B) After six months, the project risk records are assessed by Mark and his team to get valuable information about risks involved. Report for: Mel Tunnels Project Manager: Mark Project Objective: Developing a twin tunnel with a parallel alignment 3 meters apart from each other connecting car park of the shopping complex with the main road.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 24 of 64 Released: September 2023 Document uncontrolled when printed Rating for Likelihood and Seriousness for each risk L Rated as Low E Rated as Extreme (Used for Seriousness only) M Rated as Medium NA Not Assessed H Rated as High Grade: Combined effect of Likelihood/Seriousness Seriousness Likelihood low medium high EXTREME low N D C A medium D C B A high C B A A Recommended actions for grades of risk Grade Risk mitigation actions A Mitigation actions, to reduce the likelihood and seriousness, to be identified and implemented as soon as the project commences as a priority. B Mitigation actions, to reduce the likelihood and seriousness, to be identified and appropriate actions implemented during project execution.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 25 of 64 Released: September 2023 Document uncontrolled when printed C Mitigation actions, to reduce the likelihood and seriousness, to be identified and costed for possible action if funds permit. D To be noted - no action is needed unless grading increases over time. N To be noted - no action is needed unless grading increases over time. Change to Grade since last assessment NEW New risk  Grading decreased — No change to Grade  Grading increased

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 26 of 64 Released: September 2023 Document uncontrolled when printed Id Description of Risk (Including any identified ‘triggers’) Impact on Project (Identify consequences) Assessment of Likelihood Assessment of Seriousness Grade (combined Likelihood and Seriousness) Change Date of Review Mitigation Actions (Preventative or Contingency) Responsibility for mitigation action(s) Cost Timeline for mitigation action(s) Work Breakdown Structure 1 Steering Committee unavailable . Identified triggers: • Steering Committ ee meetings repeatedl y reschedu led due to lack of availabilit y. • Members do not attend despite prior confirmat ion of attendan ce. Lack of availability will stall progress (i.e. delayed decisions will defer output finalisation, extend project timelines, and staff resources will be required for longer than anticipated) H H A NEW 15/02/17 Preventative : • Highlight strategic connection - link Project Objective to relevant Agency strategic objectives • Confirm 2006 meeting schedule in January • Confirm SC membershi p • Widen representat ion (include other Agencies) Project Manager NA 15/03/17 Y

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 27 of 64 Released: September 2023 Document uncontrolled when printed 2 Inadequate funding to complete the project Identified triggers: • Funding is redirected • Costs increase (poor quality materials/ inaccurat e cost estimates ) Budget blow out means cost savings must be identified – i.e. reduced output quality, timeframes are extended, outcomes (benefits) will be delayed and/or reduced. M M B No change 15/02/17 Contingency: Re-scope project, focusing on time and resourcing Project Manager TBC TBC N

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 28 of 64 Released: September 2023 Document uncontrolled when printed 3 Staff reject new procedures Triggers include • Staff don’t participate in training (not prepared for new roles). • New procedures not applied (workarounds still used). Rejection means additional time and resources required to achieve successful implementati on - ie. outputs languish; more training is required (additional cost, time delays); potential for ‘falling back into old ways’ (more change mgt required); loss of credibility for project (perception of failure). H H A NEW 15/02/17 Preventativ e: High level reinforceme nt of policy changes. Provide opportunity for staff feedback prior to policy/proc edure finalisation. Develop Training Plan that allows for repeat attendance (perhaps 2 stage training?). Identify staff ‘champions’ to promote adoption of new procedures (buddy system). Sponsor Project Manager Consultant Project Manager Project Manager NA NA $3,00 0 NA NA 21/02/17 21/02/17 30/03/17 30/03/17 30/04/17 Y Y N N N

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 29 of 64 Released: September 2023 Document uncontrolled when printed Circulate information to staff that • promotes how new procedure s have improved processes . • proportio n of staff that have successful ly complete d the training. • Identifies local ‘buddies’ for troublesh ooting

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 30 of 64 Released: September 2023 Document uncontrolled when printed Mark is concerned about the unavailability of the steering committee. He plans to organise a steering committee meeting in near future to discuss about the risks involved in the project and how future changes in the project environment will affect those risks. Mark also wants to reassess the budget requirements of the project because of recent increase in the process of raw materials and labour. The environmental planning commission has advised Mark and his team that their excavation may affect the nearby houses. So, they must minimise the depth of the excavation levels to 50 metres only and not 60 metres as planned. The staff is not actively involved in the project, and this is affecting the progress of the project. Because of the changing weather conditions due to hurricane “Loma” going to pass through the nearby city in next month, Mark and his team must change their contingency plan in an event of disaster. Mark decided to evaluate the effectiveness of the risk management plan in the project. He asked his subordinate, Chris, assistant project manager to perform evaluation of the risk management plan as per the current situation and review contingency plans as per current circumstances and advise him about the changes in the risk management plan. Chris is advised by Mark to allocate tasks after taking clarification from him. Mark also advised Chris to look for new opportunities in the project and report them. Student must assume himself/herself as Chris, assistant project manager and perform a role play on risk control activities. Trainer/ Assessor will act as Mark, project manager. 4: Evaluate risk management plan with the present situation and advise project manager of changing circumstances. 5: Review contingency plans, plan task allocation and clarify to the stakeholders. 6: Identify the opportunities for Mel tunnels.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 31 of 64 Released: September 2023 Document uncontrolled when printed Template 2: Monitor risk management plan Changed circumstances • Steering Committee Availability : As of the recent assessment, the availability of the steering committee remains a concern. Efforts to engage other relevant agencies have not yet yielded results. This needs continuous monitoring and prompt action if availability worsens. • Budgeting Concerns : There haven't been significant changes in budgeting concerns since the last assessment. We should continue to monitor expenses closely to ensure we remain within budget and identify additional cost-saving opportunities. • Staff Adoption of New Procedures : The staff's resistance to new procedures still requires attention. Our preventative actions seem to have made some progress, but we should monitor staff feedback and training success closely. • Weather and Hurricane 'Loma' : Hurricane 'Loma' is still predicted to impact our project area. Our updated contingency plan should be continuously monitored and evaluated to ensure readiness.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 32 of 64 Released: September 2023 Document uncontrolled when printed Changes in contingency plan The contingency plan has been updated to include provisions for the impending weather change due to Hurricane 'Loma'. We will monitor this plan closely to ensure it remains up-to-date and effective. Task allocation Tasks have been allocated as per the updated contingency plan. Roles and responsibilities are clear among team members and stakeholders, ensuring efficient risk management.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 33 of 64 Released: September 2023 Document uncontrolled when printed Opportunities identified We are in the process of identifying potential opportunities within the project. These could include cost-saving measures, process improvements, or innovative solutions. As soon as any opportunities are identified, they will be reported for further evaluation. Performance Criteria / Performance Checklist Your task must address the following performance criteria/ performance checklist. To be assessed as satisfactory (S) in this assessment task the participant needs to demonstrate competency in the following critical aspects of evidence S N/S Trainer/Assessor to complete (Comment and feedback to students) a) Participated professionally in the role play and demonstrated evidence of the following: ☐ ☐

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 34 of 64 Released: September 2023 Document uncontrolled when printed • Professional body language • Appropriate gestures and tone • Listened to other people’s view and answered appropriately b) Assisted in identifying and priortising potential risks throughout project life cycle through: • Established risk analysis methods • Techniques and tools ☐ ☐ c) Assisted in developing risk management strategies and risk management plans. ☐ ☐ d) Discussed about developing and implementing risk reporting mechanisms including: • recording internally and externally • Incorporating into the organisation's overall performance management ☐ ☐ e) Demonstrated ability to monitor risks as per project and risk management plans. ☐ ☐ f) Displayed skills to review contingency plans and clarified task allocation of team members along with project manager. ☐ ☐ g) Identified and reported opportunities in the same way as risks. ☐ ☐ Assessment Task 2: Project Information for students • Make sure your trainer/assessor clearly explained the assessment process and tasks to be completed. • Make sure you understand what evidence is required to be collected and how. • Make sure you discuss any special needs or reasonable adjustments to be considered during the assessment (refer to the Reasonable Adjustments Strategy Matrix and negotiate these with your trainer/assessor).

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 35 of 64 Released: September 2023 Document uncontrolled when printed • Make sure that you have access to a computer and the internet (if you prefer to type the answers). • Make sure that you have all the required resources needed to complete this assessment task. • The due date of this assessment task is in accordance with your timetable. • In exceptional (compelling and compassionate) circumstances, an extension to submit an assessment can be granted by the trainer/assessor. Evidence of the compelling and compassionate circumstances must be provided together with your request for an extension to submit your assessment work. • The request for an extension to submit your assessment work must be made before the due date. • This assessment task is comprised of a project. • This task comprises of following two (2) parts: o Part A: report on risk control activities and risk management activities. o Part B: role play on reporting risk management issues and responses to others. • You must attempt all criteria to the required level, e.g., Assessment criteria mentioned in the performance checklist to be deemed satisfactory in this task • You must ensure that the premise of the interactive presentation closely related to the scenario and the given criteria. • You must attempt all activities of the project for your trainer/assessor to assess your competency in this assessment task. • You must complete the task independently. Purpose of assessment This assessment task is designed to evaluate your following skills and abilities: • Skills to advise project managers of changing circumstances through monitoring risks. • Skills to identify risks and opportunities after reviewing current and proposed activities. • Skills to assist in implementing risk management approaches and amending plans as per changing environment. • Skills to assist in taking corrective action on risks. • Skills to assist in reviewing contingency plans on an ongoing basis and allocate tasks to individuals after clarifying with project manager before implementation. • Skills to apply and monitor risk contingency measures as per risk management plan.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 36 of 64 Released: September 2023 Document uncontrolled when printed • Skills to identify opportunities same way as risks are identified. • Skills to assist in ongoing review of project outcomes to determine effectiveness of risk management activities by assessing project risk records and other available information. • Skills to report risk management issues and responses to others so that the knowledge gained can be applied in future projects. • Reading skills to collect, review, interpret/understand and analyse/review complex textual information from a range/number of sources. • Written skills to document and deliver information to perform risk control activities and contribute to assessing risk management outcomes. • Skills to work independently/freely as well as collaboratively/together to make decisions about perform risk control activities and contribute to assessing risk management outcomes. • Skills to interact/cooperate with others using appropriate conventions/systems when communicating to, and consulting/discussing with stakeholders/interested parties. • This is an individual assessment. • This task comprises of two (2) parts: o report on risk control activities. o role play on reporting risk management issues and responses to others. • You will prepare a report on risk control activities and assessing risk management outcomes as per the given scenario in the task and templates provided. • Trainer/Assessor will act as General manager of Mel tunnels in the role play activity. • Report must contain original content and should not be a copy of someone else’s work. • Your assessor will assess your work according to the given performance criteria/ performance checklist. Assessment environment The assessment can be completed in one of the following assessment environments: • Online environment • Simulated environment/ Classroom environment

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 37 of 64 Released: September 2023 Document uncontrolled when printed

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 38 of 64 Released: September 2023 Document uncontrolled when printed Online Environment Assessment task instructions • The purpose of this assessment task is to assist with aspects of risk management in a project. • The student must use the templates provided to document their responses. • The student must follow the word limits specified in the templates. • The trainer/assessor must assess the student using the performance checklist provided. Online environment requirements Assessment task environment This assessment task will be completed in an online environment prepared by your training organisation. All required resources to complete the assessment task will be discussed with the student before they commence the assessment. The online environment is very much like a learning environment where a student is able to practice, use and operate appropriate industrial equipment, techniques, practices under realistic workplace conditions. Requirements for the online assessment environment The trainer/assessor will ensure that the online assessment environment is set up to complete this assessment task. The online environment consists of: • A learning management system where the student will be required to complete their job- related tasks and activities • The standard operating/workplace procedures related to the tasks and activities. • The trainer/assessor will provide the student with assistance throughout the assessment activity. The online environment must meet the following criteria: Opportunities for the student to: Yes/No/NA Follow standard operating/workplace procedures

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 39 of 64 Released: September 2023 Document uncontrolled when printed Use up-to-date software and equipment Work within stated timelines to meet deadlines Gain experience in the challenges and complexities of dealing with multiple tasks Experience prioritising competing tasks and dealing with contingencies The environment to work with others in a team Online assessment environment sufficient to communicate, contribute and participate in tasks and activities. Assessment environment sufficient to work independently and manage workload Resources, tools, and equipment requirements The following resources, tools and equipment required to complete the assessment task will be discussed with the student before they commence the assessment: • Workplace personnel/stakeholders to participate in the questioning session requires active participation in a range of creative thinking activities o Please refer to the roles and responsibilities section for more information o This should be organised by the training organisation either via, LMS, telephone conferences, video conferencing or anything of a similar nature • project management documentation for risk management • workplace risk management policies and procedures. Online assessment scenario You are required to assist with aspects of risk management in a project. You are required to read and understand a predetermined issue and/or situation and participate in a number of assessment activities. The following are the goals and objectives to complete this assessment task:

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 40 of 64 Released: September 2023 Document uncontrolled when printed • Assist with risk analysis and planning • Identify project deliverables, objectives, and resources • Identify and prioritise potential and actual risks of project, and advise project manager • Establish with relevant personnel risk-analysis methods, techniques, and tools • Contribute to developing risk management strategies, approaches and plans according to organisational policies and procedures • Contribute to developing and implementing risk-reporting mechanisms • Review risks and execute risk-control activities • Monitor actual and potential risks according to agreed project and risk management plans and advise project manager of changing circumstances • Identify opportunities and changing environment for project activities, and advise project manager • Contribute to amending project and risk management plans and confirming plans reflect the changing environment • Contribute to reporting opportunities for risk control • Develop contingency plan • Contribute to corrective action on risks according to risk management plan and delegated authority • Contribute to review of contingency plans on an ongoing basis • Confirm tasks allocated to individuals and teams are agreed with supervisor before implementation • Apply and monitor risk-contingency measures • Contribute to assessing risk management outcomes • Contribute to ongoing review of project outcomes and determine effectiveness of risk management activities • Seek feedback and identify risk management issues • Report risk management issues and responses to relevant stakeholders • Make changes to project management techniques based on feedback received A supervisor will be assigned to you by your training organisation. The supervisor can answer your questions related to understanding the requirements associated with the assessment task. The supervisor will act according to job role and responsibilities. The supervisor can be your trainer or assessor or a different trainer or assessor or a staff member (including mentors) from the training organisation.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 41 of 64 Released: September 2023 Document uncontrolled when printed Roles and responsibilities As part of your job role, you have the following job responsibilities: • Applies appropriate strategies to construct meaning from complex texts • Documents results of analyses using required organisational formats • Contribute to project documentations using structure and vocabulary appropriate to audience, context, and purpose • Participates in a range of verbal exchanges using clear language and non-verbal features to provide relevant information • Uses active listening and questioning techniques to elicit views and opinions of others • Identifies responsibilities of own role in terms of its contribution to broader goals of work environment • Selects appropriate communication protocols in a range of work contexts • Collaborates and cooperates with others to achieve shared goals • Sequences and schedules required tasks and activities and manages relevant communication • Identifies outcomes to identify opportunities for future improvement. Task requirements This assessment task requires you to assist with aspects of risk management in a project. The assessment activities are mentioned within the assessment task.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 42 of 64 Released: September 2023 Document uncontrolled when printed Simulated Environment Assessment task instructions • The purpose of this assessment task is to assist with aspects of risk management in a project. • The student must use the templates provided to document their responses. • The student must follow the word limits specified in the templates. • The trainer/assessor must assess the student using the performance checklist provided. Simulated environment requirements Assessment task environment This assessment task will be completed in a simulated environment prepared by your training organisation. The simulated environment will provide you with all the required resources (such as the equipment and participants, etc.) to complete the assessment task. The simulated environment is very much like a learning environment where a student is able to practice, use and operate appropriate industrial equipment, techniques, practices under realistic workplace conditions. Requirements for the simulated assessment environment The trainer/assessor will ensure that the simulated assessment environment is sufficient to complete this assessment task. The simulated environment consists of: • The training organisation as the workplace where the student will be required to complete their job-related tasks and activities • The standard operating/workplace procedures related to the training organisation • The trainer/assessor will provide the student with assistance throughout the assessment activity. The simulated environment must meet the following criteria: Opportunities for the student to: Yes/No/NA Follow standard operating/workplace procedures

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 43 of 64 Released: September 2023 Document uncontrolled when printed Use up-to-date software and equipment Work within stated timelines to meet deadlines Gain experience in the challenges and complexities of dealing with multiple tasks Experience prioritising competing tasks and dealing with contingencies Simulated environment to work with others in a team Simulated environment sufficient to communicate, contribute and participate in tasks and activities. Simulated environment sufficient to work independently and manage workload Resources, tools, and equipment requirements The following resources, tools and equipment will be made available by the training organisation at the simulated workplace to complete this assessment task: • Workplace personnel/stakeholders to participate in the questioning session requires active participation in a range of creative thinking activities o Please refer to the roles and responsibilities section for more information • project management documentation for risk management • workplace risk management policies and procedures. Simulated assessment scenario You are required to assist with aspects of risk management in a project. You are required to read and understand a predetermined issue and/or situation and participate in a number of assessment activities. The following are the goals and objectives to complete this assessment task: • Assist with risk analysis and planning

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 44 of 64 Released: September 2023 Document uncontrolled when printed • Identify project deliverables, objectives, and resources • Identify and prioritise potential and actual risks of project, and advise project manager • Establish with relevant personnel risk-analysis methods, techniques, and tools • Contribute to developing risk management strategies, approaches and plans according to organisational policies and procedures • Contribute to developing and implementing risk-reporting mechanisms • Review risks and execute risk-control activities • Monitor actual and potential risks according to agreed project and risk management plans and advise project manager of changing circumstances • Identify opportunities and changing environment for project activities, and advise project manager • Contribute to amending project and risk management plans and confirming plans reflect the changing environment • Contribute to reporting opportunities for risk control • Develop contingency plan • Contribute to corrective action on risks according to risk management plan and delegated authority • Contribute to review of contingency plans on an ongoing basis • Confirm tasks allocated to individuals and teams are agreed with supervisor before implementation • Apply and monitor risk-contingency measures • Contribute to assessing risk management outcomes • Contribute to ongoing review of project outcomes and determine effectiveness of risk management activities • Seek feedback and identify risk management issues • Report risk management issues and responses to relevant stakeholders • Make changes to project management techniques based on feedback received A supervisor will be assigned to you by your training organisation. The supervisor can answer your questions related to understanding the requirements associated with the assessment task. The supervisor will act according to job role and responsibilities. The supervisor can be your trainer or assessor or a different trainer or assessor or a staff member (including mentors) from the training organisation.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 45 of 64 Released: September 2023 Document uncontrolled when printed Roles and responsibilities As part of your job role, you have the following job responsibilities: • Applies appropriate strategies to construct meaning from complex texts • Documents results of analyses using required organisational formats • Contribute to project documentations using structure and vocabulary appropriate to audience, context, and purpose • Participates in a range of verbal exchanges using clear language and non-verbal features to provide relevant information • Uses active listening and questioning techniques to elicit views and opinions of others • Identifies responsibilities of own role in terms of its contribution to broader goals of work environment • Selects appropriate communication protocols in a range of work contexts • Collaborates and cooperates with others to achieve shared goals • Sequences and schedules required tasks and activities and manages relevant communication • Identifies outcomes to identify opportunities for future improvement. Task requirements This assessment task requires you to assist with aspects of risk management in a project. The assessment activities are mentioned within the assessment task.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 46 of 64 Released: September 2023 Document uncontrolled when printed Assessment Task 3: Project Project In continuation of scenario, Mark planned how to perform risk control activities and contribute to assessing risk management outcomes. As part of the monitoring process, the thresholds for the risk criteria will be reviewed at the commencement of each risk assessment cycle to identify the processes that may be subject to increased risks and, as such, would derive the greatest value from the risk assessment. Mark proposed to his team that they should regularly review risks identified in the firm’s risk register. Document any actions or events that change the status of a risk, for example: • Changes to a risk evaluation because of improvements in controls • A control breach and near miss should be logged at the time of the event • A new risk that has been identified. Mark believes that because no two projects are exactly alike, the risk management approach and plan should be tailored to the scope and complexity of individual projects. Other considerations include the roles, responsibilities, and size of the project team, the risk management processes required or recommended by the government organisation, and the risk management tools available to the project. Corrective actions Corrective action should be well-documented and should, upon execution, turn the project in a way such that it better aligns with the goals, expectations, and ultimate results laid out in the project management plan. Corrective action will be implemented at any point within the project when the project, or a specific task or tasks, have taken the project in a direction which conflicts with the pre- determined project management. Mark believes that earlier intervention traditionally is more effective as it can involve a more minor correction than later intervention, which can require a more significant alteration, which can result in more financial and time expenditures. Contingency planning: Mark and his team developed following steps in the contingency plan maintenance process: • Communicate the plan to everyone in the organisation. • Inform people of their roles and responsibilities related to the plan. • Provide necessary training for people to fulfil these roles and responsibilities. • Conduct disaster drills where practical. • Assess the results of training and drills and make any necessary changes. • Review the plan on a regular basis, especially if there are relevant technological, operational, and personnel changes. • Distribute revised plans throughout the company, and make sure that the old plan is discarded.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 47 of 64 Released: September 2023 Document uncontrolled when printed • Keep copies of the plan off-site, and in a place where they can be accessed quickly when needed. • Audit the plan periodically: o Reassess the risks to the business. o Analyse efforts to control risk by comparing actual performance with the performance levels described in the contingency plan. o Recommend and make changes, if necessary. Reporting opportunities A) Sources of opportunity within the organisation: a. Supply Chain b. Product and service offering c. Process d. Technology e. New markets B) Sources of Opportunity Beyond the Organisation 1. Customers 2. Emerging technologies and scientific developments 3. Political, legal, and social forces Determining effectiveness of risk management activities Mark planned following steps in determining risk management activities: 1. An accepted and accurate representation of the current arrangements for managing different forms of risk. 2. The fundamental concepts of risk and risk management and the desired goals in terms of the risk management framework and process to be clearly understood by those sponsoring the change. 3. A clear and accepted appreciation of the elements of the existing framework that need to be enhanced or improved and the nature of those changes and any additional elements that need created. 4. The exploration of options, constraints, enablers and critical paths leading to an appropriate plan of actions with timings. 5. A clear commitment to the plan and its implementation through the allocation of suitable resources by senior management and by their continued oversight of progress.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 48 of 64 Released: September 2023 Document uncontrolled when printed Project Records: Mel Tunnels The project starting date: 01/02/2017 The project finishing date: 30/07/2017 Total budget allocated: 50, 000, 00 dollars. Risks affecting progress of project: Design changes, environmental effects on projects, changes in road work schedule, Construction material costs and availability, poor staff performance. Total number of staff employed in project: Permanent: 50 employees Casual and contracted employees: 100 Proposed outcomes: Developing a twin tunnel with a parallel alignment 3 meters apart from each other connecting car park of the shopping complex with the main road. Changes in scope of project: Time deadline increased by 2 months. It effected the budget of the project which has to be increased with extra 200000 dollars. Changes in contingency plan: Due to Hurricane “Loma” effecting nearby city, contingency plan is reviewed and changed by Mark and his team.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 49 of 64 Released: September 2023 Document uncontrolled when printed After some time, Mark decided to evaluate the effectiveness of risk management. He followed the given steps: • Meeting with team members and relative stakeholders of the project where the detailed arrangements, including the schedule activities and delivery dates, the documents to be reviewed and the stakeholders are agreed. • Observing and reviewing risk management in actual practice through analysis of suitability of the current framework and tools to manage risk associated with an organisation of a comparable size and complexity, its risk profile and the risk criteria that should reflect its attitude. • Using the gathered information, a gap analysis and evaluation of effectiveness is performed. • Presenting the findings to senior managers. Mark identified following general risk management issues in the evaluation process: • Technology risk management issues • Third party risk management • Fraud and misconduct • Crisis management • Data security • Achieving compliance program effectiveness • Improving risk data aggregation and reporting Mark found that there are inaccuracies or incomplete information in the survey file about design of the project. He also found that design change is outside of the parameters contemplated in the environmental document. There is also risk of potential lawsuit on environmental report, delaying the start of construction and threatening loss of funding. Mark also found that due to complex nature of the staging, additional right of way or construction easements may be required to complete the work as contemplated, resulting in additional cost to the project. Also it is noted by Mark those hazardous materials encountered during construction will require an onsite storage area and potential additional costs to dispose. Mark is advised by the management of the Mel tunnels to present a report on risk control activities and risk management outcomes.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 50 of 64 Released: September 2023 Document uncontrolled when printed Task: A) Prepare a report Student must assume himself/herself as Mark and prepare a report on risk control activities. Report must incorporate following points: 1: Ways to monitor risks as per project and risk management plans and notify project manager of changing circumstances. 2: Policies on reviewing current and proposed activities to identify risks and opportunities. 3: Factors to consider and steps to follow for implementing agreed risk management approaches and amending plans as per changing environment. 4: With respect to given scenario, the corrective actions need to be taken on risks as per risk management plan and delegated authority. 5: Process for reviewing contingency plans on ongoing basis and clarifying allocated tasks to the relevant stakeholders before implementation. 6: Factors to consider for application and monitoring of risk contingency measures as per the management plan. 7: Steps to review project outcomes to determine effectiveness of risk management activities. Report on Risk Control Activities Prepared by: Mark Date: 26/10/2023 Subject: Risk Control Activities and Management Outcomes 1. Monitoring Risks and Notifying Project Manager of Changing Circumstances In our project, monitoring risks is essential to ensure that we maintain a proactive approach to risk management. We should monitor the project against established thresholds, periodically reviewing risk criteria to identify processes subject to increased risks. It's crucial to remain vigilant about the availability of the steering committee and ensure timely and efficient decision-making. 2. Policies for Identifying Risks and Opportunities Our approach to risk management should include policies for reviewing both current and proposed project activities. The following factors should be considered:

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 51 of 64 Released: September 2023 Document uncontrolled when printed • Supply Chain: Identifying potential supply chain risks and opportunities. • Product and Service Offering: Evaluating how changes may affect the project's direction. • Process: Continuous assessment of the project's processes for improvements. • Technology: Leveraging new technologies and scientific advancements. • New Markets: Identifying new markets and opportunities. 3. Implementing Agreed Risk Management Approaches Risk management approaches must be tailored to the project's scope and complexity. Factors to consider include project team size, government requirements, and the available risk management tools. Plan amendments should be executed if the environment changes. 4. Corrective Actions and Delegated Authority Corrective actions are essential to ensure that the project aligns with its goals and expectations. These actions will be implemented as soon as deviations from the project management plan are identified. We should prefer early intervention as it is often more effective and less costly than later corrections. Corrective actions should be well-documented and well-executed. 5. Reviewing Contingency Plans and Clarifying Allocated Tasks Our contingency plans are dynamic documents. The process for reviewing these plans should include steps such as: • Communicating the plan to everyone in the organization. • Defining roles and responsibilities. • Providing necessary training. • Conducting drills and evaluating results. • Regularly reviewing and distributing revised plans. • Keeping off-site copies for quick access. • Periodic audits to reassess risks. 6. Application and Monitoring of Risk Contingency Measures The application of risk contingency measures must align with the risk management plan. The process includes: • Continuously monitoring the risk contingency plan.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 52 of 64 Released: September 2023 Document uncontrolled when printed • Evaluating the plan's effectiveness and readiness. • Ensuring that allocated tasks are clear and communicated to relevant stakeholders. • Acting proactively in case of changes in the project environment that impact contingency measures. 7. Reviewing Project Outcomes for Determining Effectiveness To determine the effectiveness of our risk management activities, we should focus on several key factors: • Ensuring that current arrangements for managing risk are accepted and accurate. • Clearly understanding the desired goals in the risk management framework. • Identifying elements that need enhancement and improvement. • Exploring options and constraints for an appropriate plan of action. • Committing to the plan and its implementation through resource allocation and oversight by senior management. In conclusion, our project's risk management is an ongoing process. Regular monitoring, identifying opportunities, and effective corrective actions are crucial for its success. We should continuously reassess and adapt to changing circumstances. Please feel free to reach out if you have any further questions or need additional information. Mark

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 53 of 64 Released: September 2023 Document uncontrolled when printed Template 3: Report on risk control activities Company: Mel Tunnels Pty Ltd Time: 3:00 pm Ways to monitor risks as per project and risk management plans: Monitoring risks as per the project and risk management plans involves: • Regularly assessing the identified risks. • Reviewing the effectiveness of risk mitigation strategies. • Continuously tracking project progress against established thresholds. • Notifying stakeholders and project management of any changes in risk status. • Comparing actual risk events with the risk management plan. Policies on reviewing current and proposed activities: Our policies for reviewing current and proposed activities include: • Regularly assessing the project's scope and objectives. • Evaluating the impact of changes to project activities on risk. • Identifying and documenting new risks and opportunities. • Ensuring alignment with the organization's strategic objectives. • Regularly engaging with stakeholders for feedback and input. Factors to consider while implementing agreed risk management approaches: When implementing agreed risk management approaches, we must consider: • The project's size, scope, and complexity. • Applicability of government regulations and guidelines. • Availability and suitability of risk management tools. • The team's roles and responsibilities in managing risks. • The organization's risk tolerance and overall strategy.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 54 of 64 Released: September 2023 Document uncontrolled when printed Steps to follow for implementing risk management approaches: The steps for implementing risk management approaches include: 1. Identification: Identifying risks through techniques such as brainstorming, checklists, and documentation reviews. 2. Analysis: Assessing the likelihood and impact of each risk. 3. Mitigation: Developing strategies to reduce risk likelihood and impact. 4. Monitoring: Continuously monitoring and reviewing risks and their mitigation plans. 5. Reporting: Reporting risk status and changes to relevant stakeholders. The corrective actions need to be taken on risks: Corrective actions are necessary when risks deviate from the project management plan. These actions may include: • Adjusting project scope or objectives. • Reallocating resources. • Updating risk mitigation strategies. • Communicating changes to stakeholders. • Implementing changes promptly to avoid further issues. Process for reviewing contingency plans on ongoing basis: The process for reviewing contingency plans includes: • Regularly communicating the plan to all project stakeholders. • Defining and clarifying roles and responsibilities. • Providing training to ensure preparedness. • Conducting drills and assessing results. • Periodic plan audits to reassess risks and effectiveness. • Distributing revised plans and ensuring their accessibility.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 55 of 64 Released: September 2023 Document uncontrolled when printed Factors to consider for application and monitoring of risk contingency measures: Factors to consider include: • The nature and severity of potential risks. • Resource availability for contingency measures. • Communication plans for risk contingency. • Changes in the project environment. • Timely activation and ongoing monitoring of contingency measures. Steps to review project outcomes to determine effectiveness: To review project outcomes and determine effectiveness, the following steps should be taken: • Compare actual results against project objectives. • Evaluate the overall success of risk management activities. • Identify areas where improvements can be made. • Assess the alignment of risk management with strategic goals. • Provide feedback to stakeholders for continuous improvement. B) Perform a role play Mark discussed reported risk management issues and responses with relevant stakeholders so that lessons be learnt from them and applied in future projects. Student must assume himself/herself as Mark and perform a role play on reporting risk management issues and responses to others. Trainer / Assessor will act as General manager of Mel tunnels. Role play must cover following point:

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 56 of 64 Released: September 2023 Document uncontrolled when printed 8: Discuss risk management issues and responses for lessons learned or application to future projects and fill the given template and get it signed from trainer/ assessor who is acting as General manager of the company. Role Play. Mark: Good morning, Mr. General Manager. I wanted to discuss some of the risk management issues and responses we've encountered during the project. It's essential that we learn from these experiences and apply them to future projects. General Manager: Good morning, Mark. Please, go ahead. I'm interested in hearing your insights. Mark: First, we identified inaccuracies in the survey file regarding the design of the project. This posed a significant risk. We've since implemented better controls and verification processes to ensure the accuracy of project documents in the future. General Manager: That's a crucial improvement. Accuracy in project documentation is non-negotiable. Please proceed. Mark: We also discovered that the design changes exceeded what was contemplated in the environmental document. This could lead to a potential lawsuit and delays. Going forward, we need to ensure that the design process aligns with all regulatory requirements. General Manager: Agreed. Compliance is vital. What else have you learned? Mark: Complex staging requirements emerged, potentially requiring additional right of way or construction easements, which would increase project costs. In future projects, we need a more thorough analysis of staging and early identification of potential additional costs. General Manager: Thank you for addressing these issues, Mark. It's essential that we apply these lessons to future projects. Please fill out the lessons learned template, and I'll be happy to sign it.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 57 of 64 Released: September 2023 Document uncontrolled when printed Template 4: II. Applying project risk management techniques Risk management issues and responses Risk issue Risk statement Risk response Design changes affecting project outcomes Design changes led to potential deviations from project objectives and increased costs. Implemented improved controls and verification processes for project documents.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 58 of 64 Released: September 2023 Document uncontrolled when printed

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 59 of 64 Released: September 2023 Document uncontrolled when printed Environmental changes affecting project outcomes Environmental changes exceeded planned parameters, potentially resulting in legal challenges and delays. Enhanced alignment with regulatory requirements during the design phase.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 60 of 64 Released: September 2023 Document uncontrolled when printed Road work schedule changes affecting project outcomes Unforeseen changes in the road work schedule could lead to project timeline disruptions and increased costs. Implemented a thorough analysis of staging requirements to identify potential additional costs.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 61 of 64 Released: September 2023 Document uncontrolled when printed

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 62 of 64 Released: September 2023 Document uncontrolled when printed Construction material availability and costs affecting project outcomes Fluctuations in material availability and costs could impact project budget and progress Established proactive material procurement strategies and cost monitoring measures.

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 63 of 64 Released: September 2023 Document uncontrolled when printed Signature Mark. Performance Criteria / Performance Checklist Your task must address the following performance criteria/ performance checklist. To be assessed as satisfactory (S) in this assessment task the participant needs to demonstrate competency in the following critical aspects of evidence S N/S Trainer/Assessor to complete (Comment and feedback to students) a) Monitored risks as per project and risk management plans through reporting: • Changes to a risk evaluation • A control breach and near miss • A new risk that has been identified. ☐ ☐ b) Reviewed current and proposed activities and identify potential and actual risk opportunities through analysis of: • Scope of project • Complexity of project ☐ ☐ c) Implemented agreed risk management approaches and amended plans as per changing environment. ☐ ☐ d) Assisted in taking corrective action on risks as per risk management plan through: • Documentation • Early intervention to avoid risk ☐ ☐

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Australasia International School Onyx Developments Pty Ltd ABN 61009465758 RTO Code: 6251 CRICOS Provider Number: 02747G Level 4 127 Liverpool Street Sydney NSW 2000 Telephone: +61 2 8278 7232 contact@aischool.edu.au www.aischool.edu.au Document Name: BSBPMG426-Assessment-2-V1.1 2023 Page 64 of 64 Released: September 2023 Document uncontrolled when printed e) Made sure individual tasks are allocated after clarification from project manager and reviewed contingency plans sufficiently. ☐ ☐ f) Applied and monitored risk contingency measures as per risk management plan. ☐ ☐ g) Identified and reported opportunities such as: • Supply Chain • Product and service offering • Process • Technology • New markets • Customers ☐ ☐ END FOF ASSESSMENT

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BSBPMG426-Assessment-2-V1.1 2023

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