BSBPMG631 - Assessment Task 2 v1.2 (1)answered

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Osmania University *

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2002

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Information Systems

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Nov 24, 2024

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Assessment Task 2 Manage program delivery BSBPMG631

Student Declaration To be filled out and submitted with assessment responses ◻ I declare that this task and any attached document related to the task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s) ◻ I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me ◻ I have correctly referenced all resources and reference texts throughout these assessment tasks. ◻ I have read and understood the assessment requirements for this unit ◻ I understand the rights to re-assessment ◻ I understand the right to appeal the decisions made in the assessment Unit Title Unit Code Student name Student ID number Student signature Date Task Number

------OFFICE USE ONLY----- For Trainer and Assessor to complete: ◻ Student requested reasonable adjustment for the assessment Marking Sheet Completed successfully Did the student satisfactorily: Comments Y N DNS The student has satisfactorily completed and submitted the following:  PWBS in Task 2.1A  Program financial framework in Task 2.1B  Planning notes – funding management plan in Task 2.1C  Program resource plan in Task 2.2  Legal and regulatory requirements plan in Task 2.3  Audit plan in Task 2.4  Monitoring key program management processes – plan in Task 2.5A  Monitoring and control program progress -plan in Task 2.5B  Risk plan in Task 2.6  Observation checklist in Task 2.7  Feedback from stakeholders – summary in Task 2.7 ☐ ☐ ☐ The student has consulted with the Program Sponsor and relevant stakeholders in simulated work conditions as instructed:  Clarified program requirements  Asked for inputs into planning process (plans from Task 2.1 to 2.6)  Facilitated discussion with stakeholders  Listened actively  Used communication techniques ☐ ☐ ☐

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such as paraphrasing and questioning to confirm understanding  Led a collaborative approach to plan for program delivery Feedback in comments Demonstrated ability to:  Determine, negotiate, document and communicate program resource requirements with key stakeholders  Identify and communicate funding requirements with relevant stakeholders This is evidenced by:  PWBS in Task 2.1A  Program financial framework in Task 2.1B  Planning notes – funding management plan in Task 2.1C  Program resource plan in Task 2.2  Observation checklist in Task 2.7  Feedback from stakeholders – summary in Task 2.7 ☐ ☐ ☐ Demonstrated ability to:  Establish monitoring and control systems and support delivery of desired outcomes  Plan to report performance of constituent projects and other program elements to key stakeholders  Plan to evaluate internal and external program contexts to identified improvement needs and opportunities  Plan to identify, evaluate and document actual and potential changes This is evidenced by:  Program financial framework in Task 2.1B  Planning notes – funding management plan in Task 2.1C ☐ ☐ ☐

 Program resource plan in Task 2.2  Legal and regulatory requirements plan in Task 2.3  Audit plan in Task 2.4  Monitoring key program management processes – plan in Task 2.5A  Monitoring and control program progress -plan in Task 2.5B  Risk plan in Task 2.6 Demonstrated ability to:  Communicate with relevant stakeholders This is evidenced by:  Observation checklist in Task 2.7  Feedback from stakeholders – summary in Task 2.7  Feedback from trainer about consultation (Refer to marking sheet) ☐ ☐ ☐ Demonstrated ability to:  Identify, document and communicate relevant legal and regulatory requirements to key stakeholders  Plan to identify and address potential and actual conflicts caused by legal and regulatory requirements  Plan to implement compliance policies, processes, and procedures  Plan to monitoring breaches and conflicts according to legal and regulatory requirements This is evidenced by:  Legal and regulatory requirements plan in Task 2.3  Audit plan in Task 2.4  Observation checklist in Task 2.7  Feedback from stakeholders – summary in Task 2.7 ☐ ☐ ☐ Demonstrated ability to:  Identify program risks in consultation with relevant stakeholders  Document and communicate to ☐ ☐ ☐

relevant stakeholders, risk management approach for the program and its constituent projects  Analyse, prioritise and plan to implement risk responses  Monitor internal and external program contexts for circumstances that may affect program risks This is evidenced by:  Observation checklist in Task 2.7  Feedback from stakeholders – summary in Task 2.7  Feedback from trainer about consultation (Refer to marking sheet) When collaborating with the group, the student has actively participated in group work with a substantial contribution that can be assessed individually for all the requirements of this task. ☐ ☐ ☐ Task Outcome: Satisfactory ☐Not Yet Satisfactory ☐ Student Name: Assessor Name : Assessor Signature: Date: Table of Content

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Student Declaration ........................................................................................................................................... 2 Task 2.1 Program Financial .......................................................................................................................... 11 Task 2.2 Program Resource Plan .............................................................................................................. 13 Task 2.3 Legislative and regulatory requirements ....................................................................... 14 Task 2.4 Audit Plan ........................................................................................................................................... 15 Task 2.5 Monitoring and control ............................................................................................................... 16 Task 2.6 Program risk ...................................................................................................................................... 18 Task 2.7 Role-Play .............................................................................................................................................. 22 References ............................................................................................................................................................. 23 Task 2 – Plan program delivery Task summary and instructions What is this assessment task about? Please refer to the program scenario and the simulated work environment provided for the course. You are a Program Manager engaged by the sponsoring organisation to:  Resource and fund the program  Monitor program progress  Address legal and regulatory requirements  Manage program risks Assessment Task 2 focuses on planning for program delivery. You will collaborate with the relevant stakeholders in a simulated work environment to carry out your role as a Program Manager. Although you will collaborate with relevant stakeholders, your assessment's work must be individual, and it will be marked as such. This task comprises of the following assessment methods: o Product-based ☒ o Direct observation of Role-Play ☒ o Case Study ☐ o Other (specify) ☐ It has been designed to evaluate your ability to/competency in:

 Determine, negotiate, document and communicate program resource requirements with key stakeholders  Identify and communicate funding requirements with relevant stakeholders  Establish monitoring and control systems and support the delivery of desired outcomes  Plan to report performance of constituent projects and other program elements to key stakeholders  Plan to evaluate internal and external program contexts to identified improvement needs and opportunities  Plan to identify, evaluate and document actual and potential changes  Communicate with relevant stakeholders  Identify, document and communicate relevant legal and regulatory requirements to key stakeholders  Plan to identify and address potential and actual conflicts caused by legal and regulatory requirements  Plan to implement compliance policies, processes, and procedures  Plan to monitoring breaches and conflicts according to legal and regulatory requirements  Identify program risks in consultation with relevant stakeholders  Document and communicate to relevant stakeholders, risk management approach for the program and its constituent projects  Analyse, prioritise and plan to implement risk responses  Monitor internal and external program contexts for circumstances that may affect program risks Your assessor will be looking for demonstrated evidence of your competency in the above. You are required to address the following:  Task 2.1 Program financial o Develop a PWBS o Develop a financial framework o Develop a funding management plan  Task 2.2 Program Resource Plan o Develop a program resource plan  Task 2.3 Legislative and regulatory requirements o Outline a plan to meet program compliance needs

 Task 2.4 Audit Plan o Develop an audit plan for the program  Task 2.5 Monitoring and control o Develop a monitoring key program management processes o Develop a plan to monitor and control program progress  Task 2.6 Program risk o Develop a program risk plan  Task 2.7 Role-Play o Present and discuss planning documents to stakeholders Although the assessment requires group collaboration to simulate a work environment, the assessment submission is individual and will be marked as such. What do I need to do to complete this task satisfactorily?  submit the completed assessment tasks, according to instructions,  complete the tasks with sufficient detail and professionally present them,  use your own words and reference sources appropriately,  meet the word count where required,  use the scenario provided,  use the templates provided where required,  for your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria,  if part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate satisfactory performance. Specifications You must deliver/participate in:  Consult with relevant stakeholders in simulated work conditions when developing the planning documents  Role-Play in week 5 to present the planning documents to relevant stakeholders You must submit to GOALS  PWBS in Task 2.1A  Program financial framework in Task 2.1B

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 Planning notes – funding management plan in Task 2.1C  Program resource plan in Task 2.2  Legal and regulatory requirements plan in Task 2.3  Audit plan in Task 2.4  Monitoring key program management processes – plan in Task 2.5A  Monitoring and control program progress -plan in Task 2.5B  Risk plan in Task 2.6  Observation checklist in Task 2.7  Feedback from stakeholders – summary in Task 2.7 Resources and equipment • Computer with Internet access • Access to Microsoft Office suites or similar software • Learning material • Scenario for assessment as provided • Appendices as provided • Relevant policies and procedures as provided • Templates as provided Re-submission opportunities You will be provided feedback on your performance by the Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task. If any parts of the task are not satisfactorily completed, the assessor will explain why, and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date. You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal. You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment. Complete the following activities: Work in collaboration with a group of 3-4 classmates in simulated work conditions. The group of classmates will play the role of relevant stakeholders in the sponsoring organisation and provide feedback and inputs to plan forprogram delivery. Consult with the Program Sponsor (played by the trainer and assessor in simulated work conditions) as needed. The trainer and assessor will provide feedback about your consultation with the stakeholders and the Program Sponsor on the marking sheet.

Document the name of the classmates who will participate in the consultation process in simulated work conditions. Relevant stakeholders may include members of the program team, including project managers, internal stakeholders such as departmental managers and external stakeholders such as subject matter experts. Please note, although the task requires group collaboration to simulate a work environment, the assessment submission is individual, and it will be marked as such. Student Name Student Name Student Name Student Name Task 2.1 Program Financial A) Program work breakdown structure Develop a program work breakdown structure (PWBS). The structure provides an overview of the program and shows how each component contributes to the overall program. The decomposition stops at the level of control required by the program manager (only one or two levels of each project's WBS are enough to keep tracking, monitoring and control at the program level). Document the PWBS in the space provided below. The main components of the PWBS might include: 1. Program Management  Program Planning  Program Budgeting  Program Scheduling  Program Reporting 2. Product Development  Requirements Analysis  Design and Architecture  Coding/Implementation  Testing and Quality Assurance

 Documentation 3. Infrastructure Setup  Hardware Procurement  Software Procurement/Licensing  Network Setup  Server Configuration 4. Marketing and Sales  Market Research  Marketing Strategy  Sales Planning  Customer Support Planning 5. Training and Onboarding  Training Material Development  Training Sessions  Onboarding Process 6. Legal and Compliance  Intellectual Property  Regulatory Compliance  Contracts and Agreements 7. Monitoring and Evaluation  Performance Metrics  Risk Management  Quality Assurance 8. Integration and Deployment  System Integration  User Acceptance Testing  Deployment Planning 9. Closure and Handover  Project Closure  Handover to Operations B) Program Financial Framework Develop a program financial framework. Use the template below (Template 1) and follow the instructions. Template 1 -Program Financial Framework

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Purpose Brief introductory statement defining the purpose of the financial framework. A financial framework is like a rulebook that helps an organization manage its money wisely. It sets clear rules on how to use, allocate, and keep track of funds. The main goal is to make sure that the organization's money is used effectively, and everyone knows how it's being spent. This rulebook helps the organization reach its goals, be smart with its finances, and follow the rules. It's like a roadmap that guides how the organization plans, spends, and keeps an eye on its money to stay financially healthy and make good decisions. Funding sources Description of the various sources of funding for the program and commitment for each one. Funding sources typically depend on the size, complexity and type of program. Depending on their scope and breadth, programs receive money from a variety of sources. Government grants offer monetary assistance in line with the goals of public policy, albeit commitment is reliant on available funds. Under sponsorship terms, corporate sponsorships entail private firms backing branding or social responsibility initiatives. Donations from private individuals or charitable organizations can be made on a one-time or ongoing basis, depending on the donor's desire. The organization's money set aside for the program during budgeting are used to fund internal budget allocation. Nonprofit grants are acquired with obligations related to project-specific outputs. Online donations are used for crowdfunding, and pledges are made subject to the campaign's success. Angel and venture capital provide stock in exchange for negotiated promises in contracts. Financing for loans entails borrowing money with set terms for payback. Sales from the program directly generate earned revenue. Achieving program goals and maintaining financial sustainability requires a strategic combination of financing sources, which successful programs employ. Financial framework constraints Description of the financial constraints of the program. Constraints may be when the funding will be made available, how payments will be made or if funding will be provided at pre-determined milestones. (2-4) Program budgetary restrictions are important factors that affect how a program is planned and carried out. These limitations frequently have to do with the availability, timeliness, and distribution of funding. Key elements of financial restrictions are as follows (2-4): 1. Funding Availability: • Description: The timely provision of funding is essential to the program's financial sustainability. The program's advancement could be hampered by delays in obtaining committed finance. • Impact: The program may experience disruptions that have an impact on scheduled activities and milestones if funding is not provided consistently and on time. 2. Payment Terms and Schedules:

• Description: Payment terms and schedules that specify when and how payments are to be made to contractors, vendors, or for operating expenses might lead to financial difficulties. • Impact: Tight payment terms or late payments may make it more difficult for the program to fulfill financial commitments and could cause a halt to project operations. 3. Funding Based on Milestones: • Description: Certain programs have money tied to pre-established benchmarks that must be met in order to unlock more funding. These benchmarks may include project phases or deliverables. • Impact: The program's advancement is dependent on meeting milestones, which puts pressure on participants to fulfill obligations in order to get financing for subsequent rounds. 4. Prioritization and Budgetary Restrictions: • Description: Because programs frequently work under predetermined budgetary constraints, it's important to carefully prioritize spending and allocate resources in order to stay under set boundaries. • Impact: Program managers may have to make strategic choices due to budgetary restrictions, which may change the timing or scope of some operations in order to better utilize the resources at hand. Financial framework assumptions Assumptions about funding sources and funding goals for the program. Assumptions must be documented and updated as the program progresses. (3-4) 1. Presumption: Funding from the Government Will Be Obtained: • Description: The program's principal financing source, government grants, is expected to be successfully secured. This presumption is predicated on the program's compliance with eligibility requirements and government priorities. • Justification: Prior conversations with pertinent authorities and early indications of interest bolster the anticipation of government support. As the program moves forward, regular updates and contact with government authorities will be necessary to confirm and modify this assumption. 2. Presumption: Marketing expenses will be covered by corporate sponsorships: • Description: It is anticipated that a sizable amount of the program's marketing and promotion costs will be covered by corporate sponsorships. • Justification: This assumption is supported by early conversations with possible sponsors and encouraging signs of interest. If actual sponsorship agreements are used to validate or update this assumption, regular updates on sponsor commitments and continuous contact will be necessary. 3. Assumption: Prioritization Will Be Needed Due to Budgetary Constraints: • Description: The program is predicated on the idea that financial limitations will force careful prioritization of tasks and costs, necessitating adaptability in order to

modify the scope in accordance with available resources. • Justification: Initial budget talks and financial planning show how important it is to set priorities. It will be essential to provide regular updates on budget assessments and modifications to guarantee compliance with changing program needs and financial limits. Known risks and issues Risks could be, for example, a contractor's ability to complete a portion of the work if not paid promptly or if there are budget cuts. (5-6) 1. Risk: Contractor Performance May Be Affected by Delayed Payments: • Description: It's possible that contractors' capacity to finish given job on time will be hampered by untimely payments. Project delays, problems with quality, or strained contractor relations could result from this. • Mitigation: To guarantee on-time payouts, set up a precise payment plan and keep an eye on compliance. Keep lines of communication open with contractors so that any money issues can be resolved quickly. 2. Risk: Program Scope May Be Affected by Budget Cuts: • Description: The program is vulnerable to possible budget cuts, which would force a program scope reduction that would have an impact on scheduled activities, deliverables, and the effectiveness of the project as a whole. • Mitigation: Maintain open lines of contact with stakeholders and evaluate budgetary allocations on a regular basis. Create backup plans in case the budget is cut, such as finding new sources of financing or rearranging priorities. 3. Risk: Reliance on a Single Source of Funding: • Description: If a major source of funding is disturbed or abruptly removed, such as in the case of government grants, there is a risk of financial instability. • Mitigation: To lessen reliance on a single party, diversify your sources of finance. Actively look for and acquire new sources of funding, such as grants from various organizations, private gifts, and corporate sponsorships. 4. Risk: How Donor Contributions Are Affected by the Economic Downturn: • Description: During recessions or other difficult times, the program may see a decline in private donations, which could have an effect on the total amount of funds available. • Mitigation: Keep an eye on economic indicators and modify fundraising plans as necessary. Establish financial reserves or backup plans to protect against changes in donor contributions during hard times in the economy. 5. Risk: Insufficient Budget Overrun Contingency Planning • Description: The program's financial stability and effective completion may be at danger due to unforeseen situations that result in budget overruns. • Mitigation: To handle possible budget overruns, create a thorough backup plan. Review and update the contingency plan on a regular basis in response to changing program requirements and outside variables.

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Financial schedule Consider that due to the length of the program, cash inflows tend to occur far quicker than the program's benefits. This is why a financial schedule is imperative to define the time and amount of inflows and outflows of funds. The schedule is then presented to the program board for consideration. 1. Cash Flow projection: • Overview: Create a comprehensive cash flow prediction that specifies the anticipated dates and quantities of cash inflows and outflows over the course of the program. • Justification: This estimate takes into account variables including program costs, funding sources, and anticipated benefit realization. It offers a thorough rundown of the program's cumulative financial requirements. 2. Sources of Inflow: • Description: List and describe the sources of income, such as grants from the government, business sponsorships, individual contributions, and any additional financing sources. • Justification: Recognizing the source of funding aids in controlling reliance and expectations. In order to reduce the dangers connected with relying too heavily on one source, it also helps to diversify funding sources. 3. Outflow Categories: • Summary: Sort program costs into discrete outflow groups, including contractor payments, operating expenses, marketing costs, and any other pertinent areas of expenditure. • Justification: By dissecting costs, the program board is able to see how money is spent. This level of detail guarantees that funds are distributed in accordance with program priorities and helps with efficient decision-making. 4. Time-Related Considerations: • Description: Stress the importance of timing cash inflows and outflows, highlighting possible periods of surplus or deficit. • Justification: Proactive financial management is made possible by knowing when cash is projected to be available and when it is needed. The program board is informed about possible obstacles by this information, which also permits tactical modifications. 5. Present to Program Board: • Description: Outline the program board with the entire financial schedule, including predicted cash flow, sources of funding, and expected expenses. • Justification: Seeking the program board's input guarantees openness and congruence with strategic goals. The board is able to approve the timetable, offer insightful commentary, and make well-informed financial management decisions. 6. Frequent Modifications and Updates: • Description: Create a procedure for routinely updating and modifying the financial schedule in response to changing program requirements, shifting funding sources, and unforeseen events.

• Justification: The program board may stay informed and adjust financial strategies in real-time, maximizing financial efficiency, with the support of a dynamic and flexible financial schedule. Resource requirements Resource requirements, in this case, are about financial resources that the program manager may need, such as a fi nancial manager. (List 2-4 key resources, the resource plan will provide further details. Focus on related financial resources.) 1. Financial Manager: • Summary: Having a dedicated financial manager is essential for managing the program's finances. In addition to overseeing cash flows and making sure financial standards are followed, this expert is in charge of budgeting and financial planning. • Justification: Retaining financial discipline, reporting accuracy, and strategic decision-making depend on having a competent financial manager. This position is crucial for managing intricate financial environments and allocating resources as efficiently as possible. 2. Budget Analyst: • Overview: Creating, overseeing, and evaluating the program budget are crucial tasks for a budget analyst. This entails keeping tabs on expenses, spotting areas for cost savings, and delivering frequent budget reports to help decision-makers. • Justification: By emphasizing budget accuracy, a budget analyst advances financial transparency and empowers stakeholders and the program manager to make defensible judgments grounded in factual financial information. Financial metrics This section should describe the financial metrics used to spend funding most efficiently. The metrics track the business case, and, as a result, the business case may need updates. (2-4) 1. ROI, or return on investment, • Description: ROI compares the program's costs and benefits to determine how efficient a spending decision was made. It aids in determining whether the financial resources used yield a profit. • Justification: Tracking ROI offers a definite measure of the program's financial viability. Should the return on investment fall short of projections, the expenditure priorities should be reassessed and the business case could be modified. 2. Ratio of Cost to Benefit: • Description: The program's overall costs and the measurable benefits it provides are compared using the cost-benefit ratio. It aids in figuring out how cost-effective the program is. • Justification: A falling cost-benefit ratio could indicate a decline in the program's financial viability. Monitoring this measure on a regular basis helps determine whether resource reallocation or spending changes are necessary to maintain maximum efficiency. Stakeholder and funding source considerations

In this section, you should state the stakeholders with influence or interest in the financial aspects of the program. This section describes how those stakeholders will be engaged, and it is one of the inputs into the stakeholder engagement plan. (30-50 words) Executive leadership, the finance department, outside funders, and oversight agencies are among the stakeholders with sway over or interest in the program's finances. Transparency and alignment with corporate objectives will be ensured through collaborative decision-making meetings, progress reports, and monthly financial briefings. C) Funding Management Plan In personal planning notes, develop a plan about how you will manage the program funding. Refer to your program financial framework to better articulate your plan. Address all the points below:  Outline how to source funding  Outline how additional funding would be acquired by liaising with pertinent stakeholders (specify the stakeholders) if needed  Outline how ongoing funding requirements will be documented and communicated to pertinent stakeholders (specify the stakeholders)  Outline how funding issues will be addressed (this may include decision-making authority, issue escalation process, risk management and governance)  Describe how funding agent requirements will be addressed (clearly state what conditions will be satisfied and for what funding agent) (100-150 words) The program's funding management plan takes a proactive stance to guarantee long- term financial stability and efficient use of available funds. Government grants, business sponsorships, individual donations, and possible alliances with charity groups will all be sources of funding. Key stakeholders will be involved, and continuous engagement with governmental organizations, business sponsors, and possible donors will be one way to address any additional financing needs. The program board, executive leadership, and funders will receive frequent financial reports that will serve as documentation and communication of ongoing financing requirements. Strong risk management techniques, a defined issue escalation procedure, a transparent decision-making authority matrix, and adherence to governance guidelines will all be used to handle funding-related concerns. The program will strictly adhere to the terms stated in agreements, guaranteeing compliance with laws and regulations and cultivating goodwill in order to satisfy funding agent criteria with funding entities.

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Task 2.2 Program Resource Plan Develop a program resource plan. Use the template below (Template 2) and follow the instructions. Template 2 -Program Resource Plan Purpose A brief introductory statement that defines the purpose of the resource management plan. The Resource Management Plan is a strategic road map that describes how resources —human, financial, and physical—will be obtained, used, and managed during the course of the program. In order to maximize resource allocation and ensure efficiency, transparency, and alignment with program objectives, this plan offers a systematic framework. The Resource Management Plan reduces risks associated with resources, promotes efficient teamwork, and ensures the program's overall success by outlining roles, duties, and procedures. Internal and external required resources In this section, internal and external resource needs are identified, and costs for each resource are provided. If external resources are required, the program manager should include the rationale for procuring those resources. (10-15) 1. Internal Resource Needs:  Human Resources: Program requires skilled project managers, developers, and marketing specialists.  Costs: Salaries, benefits, training.  Equipment and Technology: Computers, software licenses, servers.  Costs: Purchase, maintenance, licenses.  Office Space: Dedicated workspace for the program team.  Costs: Rent, utilities. 2. External Resource Needs:  Consultants: Specialized expertise for strategic planning and legal compliance.  Rationale: External consultants provide specialized knowledge, ensuring a comprehensive approach to strategic planning and legal adherence.  Costs: Consultation fees.  Marketing Agency: External support for campaign development and execution.  Rationale: Leveraging external expertise enhances marketing effectiveness and extends outreach.  Costs: Agency fees, campaign expenses.  Training Providers: External training resources for skill development.  Rationale: External providers offer diverse and specialized training options, enhancing the skills of the program team.

 Costs: Training fees. Organisational influences This section defines the organisational influences that may impact the program team's resource requirements, such as personnel and procurement policies and procedures, quality policies and standards, guidance regarding depreciation or release of equipment, sharing resources within the sponsoring organisation, recurring costs or lead resources. (2-4) 1. Policies and Procedures for Personnel: • Description: The program's need for human resources is influenced by organizational hiring, onboarding, and performance review policies. • Influence: Keeping personnel policies up to date guarantees the hiring, training, and supervision of a qualified program team that complies with company requirements. 2. Policies and Procedures for Procurement: • Description: Procurement policies within the organization have an effect on obtaining outside resources and services, which in turn affects program budgeting and vendor selection. • Influence: Purchasing external resources is made transparent, equitable, and cost- effective when procurement procedures are followed. 3. Standards and Policies for Quality: • Description: By outlining standards for deliverable quality, organizational quality policies and standards impact the program's resource needs. • Influence: Program outcomes are improved when resources are distributed in accordance with defined quality criteria, which is ensured by adhering to quality standards. 4. Policies for Equipment Release and Depreciation: • Description: Decisions about the program's usage, upkeep, and disposal of tangible assets are influenced by organizational policies addressing equipment release and depreciation. • Influence: Adhering to release and depreciation policies maximizes resource use, takes equipment lifecycles into consideration, and guarantees cost-effectiveness. Methods to meet resource requirements (acquisition) This section addresses when and how resource requirements will be met in the program and if they will be sourced externally or internally. (2-4) 1. Timing and availability of resources: The purpose of the Resource Management Plan is to guarantee that resources are available when needed by outlining the precise timing of resource requirements during the program's various phases. Methodology: In the early stages, internal resources will be employed, and for specific requirements or periods of high workload, external resources will be deliberately acquired.

2. Strategy for Internal Sourcing: The plan outlines how internal resources—such as current employees and equipment—will be used to fulfill program needs. Method: To save costs and maximize efficiency, important positions will be filled by current, qualified employees, and internal infrastructure will be leveraged whenever possible. Resource calendar The resource calendar provides time frames for the use of the program resources. An essential part of the resource management plan is the resource calendar, which offers a thorough timetable for using program resources. It specifies deadlines for allocating material, monetary, and human resources to different program operations. This calendar facilitates efficient planning and cooperation by providing a visual depiction of resource availability and demand. The resource calendar improves the program manager's capacity to maximize resource usage, avoid bottlenecks, and guarantee that the program moves forward smoothly and within the specified timeframe by explicitly defining when and for how long resources are needed. Ensuring the quality and relevance of the resource calendar throughout the program lifecycle requires regular revisions and alignment with project milestones. Tracking and monitoring This section describes how resources will be tracked and monitored throughout the program life cycle. Due to the changes in the program, changes in resource needs are expected. (30-50 words) A dynamic approach will accommodate changes in resource needs, allowing for real- time adjustments to ensure optimal utilization and alignment with evolving program requirements. Regular updates to the Resource Management Plan will capture these changes and maintain accuracy. Frequent reviews, progress assessments, and collaborative communication will facilitate resource tracking and monitoring throughout the program lifecycle. Resource prioritisation The changes regarding the need for program resources during the program life cycle can be assimilated to rules of supply and demand. This section addresses the process the program manager will follow to prioritise the use of available resources (30-50 words) Prioritizing resource allocation will be done by the program manager in accordance with changing project requirements and strategic goals. Resource allocation to important areas is ensured via a flexible strategy that takes into account the changing nature of supply and demand throughout the program life cycle. This approach is informed by regular assessments and communication.

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Task 2.3 Legislative and regulatory requirements Develop a planning document to address how the program's relevant legal and regulatory requirements will be satisfied. Use the template below (Template 3) and follow the instructions. Template 3 -Legislative and regulator requirements Legal and regulatory requirements Identify, list and describe the key legal and regulatory requirements, including compliance, for the program. (4-6 requirements, 50-100 words) 1. Data Protection Regulations: Explanation: Adherence to data protection regulations guarantees the safe management and processing of personal data, preserving individuals' right to privacy. 2. Employment Rules and Labor Laws: Fair employment practices, which address issues like working hours, salaries, and employee rights, depend on compliance with labor laws and employment rules. 3. Intellectual Property rules: Summary: Adhering to intellectual property rules guarantees the preservation of the program's original ideas, layouts, and text. 4. Needs for Financial Reporting and Disclosure: Ensuring transparency and compliance with rules through adherence to financial reporting and disclosure obligations yields accurate information for stakeholders. Communication Outline how the legal and regulatory requirements will be communicated to pertinent stakeholders (specify program and external stakeholders) (30-50 words) The program team and organizational leadership, among other internal stakeholders, will get frequent updates on legal and regulatory requirements through program documentation. To guarantee a common understanding and adherence to legal and regulatory requirements, external stakeholders—such as contractors and partners— will get explicit instructions and contractual duties specifying compliance expectations. Monitoring Outline how conflicts caused by legal and regulatory requirements will be monitored, identified and addressed (30-50 words)

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Legal evaluations and ongoing compliance assessments will be used to keep an eye out for conflicts resulting from legal and regulatory requirements. Proactive measures will detect possible disputes, and a special legal staff will handle and settle matters quickly, guaranteeing that the program complies with all relevant rules and laws. Compliance policies and procedures Outline compliance policies and procedures (4-6) for the program and describe how they will be implemented (80-120 words) 1. Data Protection Policy: • Description: The program will include a detailed policy that describes how personal data is gathered, processed, and secured. • Implementation: The team will learn data protection concepts through frequent training sessions. Ongoing compliance will be monitored by regular audits, and a designated Data Protection Officer will supervise policy adherence. 2. Ethics and Code of Conduct: • Description: A well-defined Ethics and Code of Conduct policy will delineate permissible conduct, prioritizing honesty and adherence to the law. • Implementation: Onboarding procedures will incorporate the policy, and ethical guidelines will be reaffirmed at frequent training sessions. There will be established channels for reporting ethical issues. Financial Reporting Procedures: • Description: This section will outline the procedures that will be used to ensure that financial reports are accurate and comply with all applicable legislation and accounting standards. • Implementation: Training on reporting requirements will be provided to the financial team. Adherence will be confirmed by internal and external audits, and periodic reporting cycles will be upheld. 4. Health and Safety rules: • Description: To guarantee a safe working environment for program participants, health and safety rules will be developed. • Implementation: Compliance will be enforced through training courses, safety exercises, and recurring inspections. A committed safety officer will supervise execution and swiftly handle any non-compliance. Task 2.4 Audit Plan Create a high-level audit plan for the program. Use the template provided below (Template 4) and follow the instructions. Template 4 -Audit Plan

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Purpose Brief introductory statement about the purpose of the plan. The audit plan offers a methodical framework for assessing how well the program complies with rules, guidelines, and policies. Through the identification of strengths and opportunities for development, it seeks to promote accountability, transparency, and resource efficiency. Frequent audits help to foster a culture of continuous improvement by ensuring that the program is in line with corporate objectives. Goals Goals of the audit plan. (3-4) The precise goals and protocols that auditors will adhere to throughout an audit are described in an audit plan. Generally speaking, an audit plan's objectives are: 1. Ensure Compliance: Evaluating whether the examined company complies with applicable laws, rules, and internal policies is one of the main objectives of an audit strategy. This covers corporate policy, financial restrictions, and industry standards. 2. Assess Financial Statements: The goal of auditors is to guarantee the financial statements' fairness and correctness. In order to make sure they accurately reflect the entity's financial situation, this entails reviewing the financial records, transactions, and accounting procedures. 3. Evaluate Internal Controls: An evaluation of the efficiency of the internal control mechanisms in place is frequently a key component of the audit plan. This entails going over policies and procedures to find any gaps that might allow for mistakes or fraudulent activity. 4. Find and Prevent Fraud and Errors: Auditors are in charge of looking for and stopping fraud and errors inside the audited organization. In order to achieve this goal, financial transactions and the supporting documentation must be carefully examined in order to spot any abnormalities. Roles and responsibility Roles and responsibilities of the program management team and other key stakeholders in preparing for an audit and during the audit. (4-6) Participating in the audit process requires the program management team and other important stakeholders to work together to fulfill roles and obligations. The following are each person's roles and responsibilities: Team Management for Programs: 1. Audit Readiness • Documentation Preparation: The program management team is in charge of gathering and getting ready any pertinent paperwork that has to be done for the audit. This contains any additional data that auditors may seek, as well as financial records and procedural documentation. • Internal Control Assessment: To make sure internal controls are efficient and adhere to

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audit standards, the team should evaluate and reinforce them. In order to do this, such risks must be identified and reduced prior to the audit. 2. Interaction with interested parties: • Communication with Stakeholders: The program management team is in charge of informing important stakeholders about the impending audit, giving them pertinent information, and responding to any queries or worries they might have. 3. Cooperation with Auditors: • Provide Auditor Access: The group should assist the auditors in gaining access to the people and data they require. This entails arranging timetables, supplying required materials, and guaranteeing an efficient exchange of information between the auditors and the company. 4. Issue Resolution: • Addressing Issues: In the event that the audit identifies any problems or potential areas for enhancement, the program management team will be in charge of creating and carrying out corrective measures. This could entail updating documents, modifying procedures, or changing the organizational structure. KEY STAKEHOLDERS: 1. Financial Team: 1. Maintenance of Accurate and Current Financial Records: The team in charge of finances is in charge of keeping accurate and current financial records. They are essential in responding to any finance-related inquiries and giving auditors the required financial data. 2. IT Department: • Data Security and Access: The IT department is in charge of making sure that electronic data is secure and that auditors have the right kind of access to the pertinent systems. They are involved in confirming the accuracy of data and systems as well. 33. Legal Department: • Regulatory Compliance: The legal department is in charge of making sure the company abides by all applicable laws and rules. They offer assistance in understanding and handling the audit's legal issues. 4. Human Resources: • persons Information and Access: Human resources makes sure that the required employee-related documentation is delivered and that auditors have access to pertinent persons for interviews. They could also be involved in resolving any audit findings pertaining to human resources. Schedule Schedule for program audits, even if some will occur on a random basis. Annual Program Audit Schedule: 1. January - March: Financial Controls Audit  Audit the financial controls and procedures to ensure accuracy and compliance with accounting standards.  Focus on financial transactions, reporting, and documentation. 2. April - June: Operational Process Audit

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 Review and assess key operational processes to identify areas for improvement and ensure efficiency.  Evaluate workflow, resource utilization, and adherence to established procedures. 3. July - September: Compliance Audit  Conduct a comprehensive audit to ensure compliance with relevant laws, regulations, and industry standards.  Address any legal or regulatory changes that may impact the organization. 4. October - December: Information Technology (IT) Security Audit  Assess the security of information systems, data integrity, and the effectiveness of IT controls.  Ensure that data is protected, and access controls are in place. 5. Random Audits throughout the Year:  Conduct surprise or random audits on specific processes or areas identified based on risk assessment.  This could include surprise audits of inventory, vendor relationships, or employee expense reports. Ongoing Responsibilities: 1. Monthly: Monitoring and Reporting  Regularly monitor key performance indicators and reports to identify potential issues.  Generate monthly reports for management review, highlighting any anomalies. 2. Quarterly: Risk Assessment and Adjustment  Conduct a quarterly risk assessment to identify emerging risks and adjust the audit schedule accordingly.  Modify the audit plan based on changes in the organizational environment. 3. Bi-Annual: Training and Awareness  Provide training and awareness programs for employees on compliance, internal controls, and audit processes.  Ensure that staff is knowledgeable about audit expectations and procedures. 4. Continuous Improvement: Post-Audit Action Plans  Develop action plans based on audit findings and track the implementation of corrective actions.  Use lessons learned from audits to continuously improve processes and controls. Audit results This section describes how the audit results will be documented and made available to program stakeholders. It also describes a process that the program management team will follow if they believe a mandatory recommendation from an audit cannot be implemented or can be implemented but later than recommended. In addition to that, it describes the process to update plans and other documents as needed. (30-50 words) The outcomes of the audit will be detailed in a thorough report that program stakeholders can view. The program management team will explain the difficulties if they believe that a

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required proposal is not feasible. In order to guarantee ongoing improvement and adherence to best practices, plans and records will be swiftly revised based on audit findings. Monitoring and tracking Approach to monitor and track the implementation of the recommendations from the audit. (30-50 words) Strong tracking mechanisms will be used to keep an eye on how the audit's recommendations are being implemented. Consistent progress reports, tracking of milestones, and recurring evaluations will guarantee prompt and efficient incorporation of suggestions, promoting ongoing enhancement and compliance with optimal methodologies. Task 2.5 Monitoring and control A) Key program management processes Create a high-level monitoring and control plan for the key program management processes listed below. List the key monitoring and control systems and processes that will be used for each program management process and provide further details where needed (for example, describing specific software in use or identifying key authority levels). Use the template below (Template 5). (40-80 words/key process area). Template 5 -Key program management processes Program management process Key monitoring and control systems and processes Stakeholder management Managing stakeholders in major monitoring and control systems calls for constant interaction, coordination, and cooperation with project stakeholders. This guarantees that stakeholders' expectations are met, possible problems are resolved quickly, and project results are in line with their interests, all of which promote project success.

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Program management process Key monitoring and control systems and processes Governance management Efficient supervision, adherence, and decision-making are guaranteed by governance management integrated into essential monitoring and control systems. In order to bring project operations into compliance with organizational standards and objectives, it creates transparent structures, processes, and roles. Scope management An essential part of important monitoring and control systems is scope management. It entails establishing, confirming, and managing the project's scope to guarantee that it is in line with the goals. Enhancing project clarity, preventing scope creep, and facilitating successful project delivery are all made possible by effective scope management. Schedule management An essential part of monitoring and control systems is schedule management. It entails monitoring project schedules, spotting deviations, and carrying out remedial measures. Frequent evaluations and modifications guarantee adherence to project goals, promoting prompt and effective project completion. Financial management In critical monitoring and control systems, financial management entails tracking, evaluating, and optimizing project spending. Thorough monitoring of the budget, analysis of variances, and compliance with financial controls guarantee financial restraint, efficient use of resources, and project success in its entirety. Resource management Resource management, a crucial part of monitoring and control systems, is making the most of people, supplies, and machinery to guarantee effective project execution. It includes monitoring resource use, allocation, and modifications to efficiently complete projects with the least amount of risk and delay. Risk management Risk management in critical monitoring and control systems is the ongoing evaluation, recognition, and reduction of any risks to project goals. By ensuring prompt reactions, proactive risk monitoring preserves project resilience and promotes successful outcomes. Communication management A crucial part of important monitoring and control systems and procedures is communication management. It entails methodically monitoring, revising, and improving project communication plans to guarantee that information is shared efficiently, encouraging teamwork, and swiftly resolving issues for successful project completion. B) Program progress

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In personal planning notes, create a plan to address how the program progress will be measured, evaluated, and coordinated. Refer to the program monitoring and control systems to better articulate the plan (example, mention any project management software, financial applications, reporting, access levels etc.). Address all the points below:  Outline how monitoring and control systems will support the delivery of expected benefits  Outline how the performance of constituent projects and other program elements will be reported to pertinent stakeholders  Outline how internal and external program contexts will be evaluated to identify improvement needs and opportunities  Outline how actual and potential changes will be identified, evaluated and documented (100-150 words): Program Progress Planning Notes: Project management software along with finance applications will be used to establish a strong monitoring and control system to guarantee efficient program progress. These systems will provide up-to-date information on project statuses, financial stability, and milestone accomplishments. Reports on constituent project advancements and overall program outcomes will be sent to stakeholders on a regular basis. The circumstances of both internal and external programs will be regularly evaluated in order to pinpoint areas in need of development and seize possibilities. Furthermore, a change management procedure will be instituted to immediately recognize, assess, and record any real or prospective modifications, guaranteeing flexibility and reducing disturbances. Role-specific access controls will provide accountability and transparency in the execution of the program's objectives. Task 2.6 Program risk A) Risk Management Approach Develop a high-level Risk Plan for the program. Use the template below (Template 5) and follow the instructions.

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Template 5 -Risk Plan Risk management approach How the program team will handle risk management in the program; methodology to be followed, tools and techniques to be used, and other data sources that may be helpful. It should also describe how proposed changes will be identified and managed so that they do not pose additional risks to program. The approach must include how internal and external program contexts will be monitored for circumstances that may affect program risks (50-100 words) The risk management approach of the program entails the adoption of a proactive methodology, the utilization of industry best practices, and the application of proven tools and procedures. Using a combination of risk assessment instruments and project management software, we will implement an ongoing risk monitoring system. To detect new hazards, internal and external program contexts will be reviewed on a regular basis. To effectively identify, assess, and oversee proposed changes and mitigate any potential risks, a thorough change management procedure will be implemented. This strategy encourages flexibility, openness, and early mitigation, which supports the accomplishment of effective program goals. Program risk categories Specific risk categories of risks that may affect the program. Consider preparing a risk breakdown structure (optional). (3-4) 1. Technical Risks: Described as difficulties pertaining to software development, system integration, or technology that could affect how well the program is implemented. 2. Resource Risks: Described as risks related to insufficient availability of equipment, resources, or skilled labor that could cause delays in projects or higher expenses. 3. Stakeholder Risks: Described as potential obstacles to project alignment and success, these risks might result from stakeholder disputes, shifting expectations, or poor communication.

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4. Regulatory and Compliance Risks: Regulatory and compliance risks are those associated with modifications to industry rules, legal specifications, or compliance criteria that could impact program deadlines and deliveries. Roles and responsibilities Roles and responsibilities of the program management team regarding risk management planning, identification, analysis, response planning, and monitoring and control. It also describes how risks will be escalated from component managers to the program manager and from the program manager to the Governance board or other management levels as appropriate and according to the program governance framework. (3-4) 1. Program Manager: Responsible for overall program risk management accountability. oversees the planning of risks' identification, analysis, and response. keeps an eye on and manages hazards during the course of the program. Escalation: Gets risk reports from component managers, evaluates how they will affect the program as a whole, and communicates major risks to the Governance Board. 2. Component Managers: Their duties include overseeing project- or component- specific hazards. Determine, evaluate, and prepare answers for hazards that fall within their purview. Escalation: Report to the Program Manager any risks that are beyond of their control or that could affect the entire program. 3. Governance Board: Responsible for strategically supervising program risk management. Give your approval to key risk response plans and risk management methods.

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Escalation: notified by the program manager of important program risks and included in high-impact risk decision-making. Probability/impact matrix Probability and impact for the identified risks. (for 5-10 risks) Risk Description Likelihood Impact Priority Scope Creep Uncontrolled expansion of the program scope beyond its original objectives, leading to increased complexity and potential delays. Moderate to High, as changes in project scope often arise due to evolving requirements or unclear initial definitions. High High Resource Constraint s Inadequate availability of skilled personnel, materials, or equipment, impacting the program's progress and quality. Moderate, depending on factors like resource availability, project complexity, and external dependencies. Medium High Technolog y Implement ation Challenge s Difficulties in integrating new technologies, potential system failures, or cybersecurity threats affecting program outcomes. Moderate to High, especially in projects involving complex technologies or where integration with existing systems is required. High High Stakehold er Misalignm ent Conflicting interests or expectations among stakeholders, leading to communication breakdowns and project alignment issues. Moderate, as differing stakeholder interests and expectations are common in projects. High High Budget Overruns Exceeding allocated budget due to unforeseen expenses, miscalculations, or changes in project Moderate to High, as unexpected expenses or changes in project requirements can impact the budget. High High

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Risk Description Likelihood Impact Priority requirements. Regulator y Changes Unforeseen alterations in industry regulations or compliance requirements impacting program deliverables and timelines. Moderate, with the frequency influenced by the industry's regulatory environment and the duration of the project. High High Quality Assurance Failures Inability to meet established quality standards in program deliverables, potentially leading to rework or project delays. Moderate, contingent on the effectiveness of quality control measures and the complexity of the project. High High Communic ation Breakdow n Inadequate information flow within the program team, hindering collaboration and potentially leading to misunderstandings. Moderate, particularly in large projects or those involving geographically dispersed teams. Medium High Market Shifts Changes in market conditions, customer preferences, or industry trends impacting the program's relevance and success. Moderate to High, depending on the industry's volatility and the project's alignment with market trends. High High Team Member Turnover Loss of key team members, leading to knowledge gaps, project delays, and potential impacts on team dynamics. Moderate, influenced by factors such as project duration, team dynamics, and organizational stability. Medium Medium Risk analysis considerations The program management team can use methods to assist in risk analysis to provide an environment conducive to risk management best. Outline the methods that can be used. (30-50 words) Quantitative methods for risk analysis include sensitivity analysis, decision trees, and Monte Carlo simulations. Effective program risk management also benefits from the

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identification, evaluation, and prioritization of risks through the use of qualitative techniques like expert judgment and SWOT analysis. Risk management budget The process to be followed to prepare a risk management cost estimate that will be used for a risk management budget or contingency throughout the program life cycle. It describes the process to follow when allocating contingency reserves to respond to program-level risks. The following procedures should be followed in order to create a risk management cost estimate and allot contingency reserves during the program life cycle: 1. Risk Identification: Taking into account organizational, technological, and external factors, identify possible hazards throughout the program. 2. Risk Analysis: Determine the likelihood and extent of hazards, as well as how they will affect the program's goals. 3. Risk Response Planning: Create plans to reduce, transfer, embrace, or steer clear of hazards that have been recognized. Calculate the expenses related to putting these solutions into practice. 4. Distribution of Contingency Reserves: Distribute contingency reserves in accordance with the evaluated risks and the approximate expenses of risk mitigation tactics. Make sure the reserves match the degree of risk. 5. Integration with Program Budget: Make sure the risk management budget is in line with the program's objectives and financial restrictions by integrating it with the overall program budget. 6. Regular Review and Update: Throughout the program life cycle, review and update the risk management budget on a regular basis, taking into account modifications to the project scope, environment, or risk landscape. 7. Contingency Release Procedure: Clearly outline the steps involved in releasing emergency funds. To ensure effective resource use, only release cash when a risk materializes or when it is no longer a credible threat. 8. Documentation: Keep a record of the risk management budget, together with the methods, assumptions, and justifications for any contingency allocations. Preserve openness for auditing and stakeholder needs. 9. Communication: To guarantee that all parties involved have a common knowledge of the financial components of risk management, inform them of any revisions and the risk management budget. 10. Training and Awareness: Train the pertinent team members about the value of risk management, including budgeting and setting aside funds for emergencies.

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Encourage a responsive and risk-aware culture throughout the entire program. Risk management schedule Specific risk management activities to include in the program's schedule. 1. Identification of Risks Workshops: Arrange frequent gatherings to recognize and record hazards. Involve pertinent parties to obtain a range of viewpoints. 2. Risk Analysis Sessions: Set aside time to thoroughly examine hazards that have been identified. Use both qualitative and quantitative techniques to evaluate impact and probability. 3. Risk Response Planning Meetings: Arrange meetings to create methods for handling risks. Make sure important stakeholders participate in order to obtain a variety of insights. 4. Reviews of Contingency Allocation: Based on project modifications and the changing risk environment, periodically assess and revise contingency reserves. 5. Risk Reporting and Monitoring: Set up a schedule for ongoing risk assessment. Set up recurring reports to update stakeholders on the state of the risk. 6. Contingency Release Evaluations: Establish timeframes for determining when it is necessary to release contingency reserves. Comply with risk occurrence scenarios and project milestones. 7. Risk Review Meetings: Hold frequent meetings to discuss the entire risk management plan while taking the program environment into account. 8. Programs for Training and Awareness: Include instruction on risk management in the program timetable. Make sure everyone in the team understands how to identify, analyze, and respond to risks. 9. Communication Plan Updates: Arrange for the communication plan to be updated in accordance with modifications to risk management tactics. Make sure all relevant parties are informed. 10. Lessons Learned Sessions: Set aside time for retrospective project evaluations to document the knowledge gained about risk management. Utilize learnings to enhance program risk management in the future. 11. External Risk Environment Monitoring: Keep a regular eye on outside variables that could have an effect on the program. Plan reviews to evaluate how relevant external hazards are. 12. Integration with Project Milestones: Coordinate risk mitigation efforts with significant project checkpoints. Make sure that project planning include risk

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assessments and responses. Risk reporting Content and format for the program's risk register. It also describes communication approaches used with the various stakeholders and the governance board concerning risks. (30-50 words) The detected risks, their descriptions, designated owners, and mitigation strategies are all included in the program's risk register. There are consistent changes made, and the format adheres to a template. Regular reporting to the governing board and stakeholders is part of communication, as is maintaining transparency and promptly disseminating information pertaining to risks. Risk tracking The process to follow to track identified risks and to recognise any risks that may affect the program. It also describes how the program's risk management will be audited, the frequency of the audits, and the process to document lessons learned based on the program's risk management activities. (30-50 words) Conduct periodic risk audits and use project management tools to execute routine monitoring to keep track of identified hazards. Quarterly audits will evaluate how well risk management procedures are working. Lessons from these activities that have been documented help to optimize risk management and continuously enhance programs. Risk treatment Determine the risk response for the identified risks. Risk Treatment Scope Creep Adopt stringent change control protocols. Review and match the goals of the project on a regular basis. Explain in detail how changes in scope will affect deadlines and available resources. Resource Constraints Plan your resource capacity. To fill in skill gaps, cross-train team members. Investigate outsourcing or bringing on more

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Risk Treatment staff as needed. Technology Implementation Challenges Before implementing, do in-depth assessments of the technology. Talk to professionals in the field. Make backup plans in case there are technological difficulties. Stakeholder Misalignment Encourage lines of communication to remain open. Include stakeholders in project updates on a regular basis. Organize workshops on alignment to resolve expectations that are at odds. Budget Overruns Create a thorough budget that includes backup funds. Keep an eye on your spending on a regular basis. Put strict financial controls in place. Request sponsor clearance before making any big budget adjustments. Regulatory Changes Form a team to monitor regulations. Create a strategy for responsive compliance. Review and update compliance procedures on a regular basis. QualityAssurance Failures Put in place reliable quality control procedures. Perform routine quality assessments. Create a quality-conscious culture inside the group. Communication Breakdown Make a detailed communication strategy. Make use of technologies for collaboration. Hold frequent team meetings and make sure that the status of the project is communicated to all parties involved. Market Shifts Perform recurring market research. Create backup strategies in case the market conditions change. Retain adaptability when organizing and carrying out projects. TeamMember Turnover Put succession planning into action. Members of the team should receive cross-training. To increase team retention, cultivate a favorable work atmosphere. To gather information, do exit interviews. Task 2.7 Role-Play Schedule a meeting (30 minutes) with your trainer and assessor in week 5 of class.

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Meet with two senior stakeholders (the program sponsor and a program board member) played by two classmates. During the meeting :  Communicate the program funding, and resource requirements  Discuss the financial framework  Negotiate and secure funding and resourcing commitment  Communicate relevant legal and regulatory requirements  Communicate monitoring and control systems and processes  Communicate the risk management plan  Use appropriate communication skills  Use appropriate conventions and protocols to communicate with stakeholders  Collaborate with the stakeholders to achieve the desired outcome  Facilitate effective interactions  Use influencing and negotiation skills Before the meeting :  Make sure to have completed all planning documents  Practise your presentation  Plan to respond to possible objections  Prepare to negotiate: o identify stakeholder's expectation o identify the non-negotiable o be ready to provide information as required o consider what influence skills you could use After the meeting : Record the outcome of the meeting in the two tables below: Summary of feedback received and adjustments made to planning documents based on feedback. 1. Program Funding and Resource Requirements: Feedback: Stakeholders expressed concerns about the allocated budget for specific project components. Adjustments: Revised budget allocations for certain projects, ensuring alignment with stakeholder expectations. 2. Financial Framework: Feedback: The program board member sought additional clarification on the financial control measures. Adjustments: Incorporated more detailed explanations in the financial framework section, addressing concerns raised.

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3. Negotiate Funding and Resourcing Commitment: Feedback: The program sponsor requested a phased funding approach. Adjustments: Modified the funding commitment plan to incorporate a phased release aligned with project milestones. 4. Legal and Regulatory Requirements: Feedback: Both stakeholders requested more detailed information on specific regulatory compliance measures. Adjustments: Added a supplementary section outlining specific legal and regulatory compliance strategies to the planning documents. 5. Monitoring and Control Systems: Feedback: Stakeholders appreciated the transparency in monitoring but sought additional details on reporting frequency. Adjustments: Updated the planning documents to include a more detailed reporting schedule and frequency. 6. Risk Management Plan: Feedback: The program board member expressed concern about potential risks associated with external market shifts. Adjustments: Strengthened the risk response strategy for market shifts, highlighting specific actions to mitigate potential impacts. 7. Communication Skills and Protocols: Feedback: The trainer emphasized the importance of adapting communication styles to the preferences of different stakeholders. Adjustments: Incorporated guidance on adaptive communication in the planning documents. 8. Collaboration and Facilitation: Feedback: Both stakeholders appreciated the collaborative approach but suggested more proactive engagement with certain team members. Adjustments: Revised the collaboration strategy to include targeted engagement plans for specific team members. 9. Influencing and Negotiation: Feedback: The trainer provided insights into refining negotiation techniques for future engagements. Adjustments: Incorporated additional influencing

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and negotiation tactics into the planning documents. The outcome of the meeting Funding commitment secured: Yes No Resource requirements secured: Yes No Plans to facilitate program delivered approved: Yes No This is an assessable task, and your trainer and assessor will evaluate your performance during the role-play. If you miss class, it is your responsibility to make alternative arrangements with the trainer and assessor to perform the role-play. Meeting Schedule Request: Subject: Request for Meeting in Week 5 Dear Trainer and Assessor, I hope this message finds you well. I would like to schedule a 30-minute meeting with you during week 5 of the class to discuss program-related matters and seek your guidance. Please let me know your availability, and we can coordinate a suitable time. Thank you, [Mani] Agenda for Stakeholder Meeting: Before the Meeting: • Completed all planning documents. • Practiced the presentation. • Planned responses to possible objections. • Prepared for negotiation: • Identified stakeholders' expectations. • Identified non-negotiables. • Prepared to provide necessary information. • Considered influencing and negotiation skills. During the Meeting: 1. Introduction: • Welcome the program sponsor and program board member. • Briefly outline the agenda.

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2. Program Funding and Resource Requirements: • Communicate detailed funding and resource needs for the program. • Present budget breakdown and resource allocation plan. 3. Financial Framework: • Discuss the financial framework, outlining budgetary control measures. • Address any financial concerns or questions. 4. Negotiate Funding and Resourcing Commitment: • Engage in a collaborative discussion to secure commitment. • Address concerns and negotiate terms as needed. 5. Legal and Regulatory Requirements: • Communicate relevant legal and regulatory requirements affecting the program. • Ensure stakeholders understand compliance obligations. 6. Monitoring and Control Systems: • Present the program's monitoring and control systems. • Highlight how these systems ensure transparency and progress tracking. 7. Risk Management Plan: • Discuss the comprehensive risk management plan. • Address any concerns related to risk mitigation strategies. 8. Communication Skills and Protocols: • Utilize effective communication skills. • Follow appropriate conventions and protocols when communicating sensitive information. 9. Collaboration and Facilitation: • Collaborate with stakeholders to align goals. • Facilitate effective interactions between team members. 10. Influencing and Negotiation: • Use influencing and negotiation skills to secure commitment. • Address any resistance or objections effectively. References Please include your references below: 1. https://www.techtarget.com/searchsecurity/definition/What-is-risk-management-and- why-is-it-important 2. https://corporatefinanceinstitute.com/resources/career-map/sell-side/risk- management/risk/ 3. https://www.auditboard.com/blog/10-risk-management-strategies/

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4. https://www.simplilearn.com/common-project-risks-article 5. https://www.simplilearn.com/financial-risk-and-types-rar131-article 6. https://www.techtarget.com/searchcio/feature/4-basic-types-of-business-risks-in-the- enterprise

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BSBPMG631 - Assessment Task 2 v1.2 (1)answered

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