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Unit Code BSBPMG632

Unit Code BSBPMG632
Unit Name Manage Program Risk
Name of the Document Student Assessment Guide
Knowledge Assessment
  1. Describe what the following risk management tools are used for when managing program risks.
Risk management tool Use
i.Risk register
ii.Risk matrix
  2. Describe what the following risk frameworks are used for when managing program risks.
Risk management framework Use
i.Risk management policy
Risk management framework Use
ii.Risk management procedures
  3. Describe what the following risk management systems are used for when managing program risks.
Systems Use
i.Risk management software
ii.Risks management templates
4. Describe what the following risk management methodologies are used for when managing program risks.
Methodologies Use
i.Risk identification process
ii.Risk analysis process
iii.Risk treatment process
iv.Risk tracking process
v.Risk review process
  5. Describe what the following risk management standards are used for when managing program risks.
Standards Use
i.PMBOK Risk Management Guide and Standards
ii.AS/NZS ISO 31000:2009 Risk Management Principles and guidelines
6. Answer the following questions about a dynamic risk register.
i.Identify three characteristics of a dynamic risk register.a.b.c.
ii. Explain how a dynamic risk register would be used across a program.
  7. List four components of a dynamic risk register and describe what each component is used for.
Components Description
i.
ii.
iii.
iv.
1. Practical Assessment
Project Evaluation Summary Ballarat Line Upgrade
Proponent Victorian Government
Evaluation date 30 August 2018
Contents
1. Summary 1
2. Strategic context 2
3. Problem description 2
4. Project overview 3
5. Options identification and assessment 3
6. Economic evaluation 4
7. Deliverability 6
1. Summary
The Ballarat Line is an important regional public transport link for Melbourne’s outer west, with annual boardings increasing from 3.4 million in 2014/5, to 4.3 million in 2016/17. It provides access between the Melbourne CBD and growing population centres, such as Bacchus Marsh, Melton and Ballarat. Demand on the Melton/Bacchus Marsh section of the Ballarat Line exceeds capacity at peak times, causing passenger crowding and affecting service punctuality and reliability.
Victoria in Future (2016) predicts strong population growth in local government areas to the east, north and west of Melbourne. To the west, in the Ballarat Line corridor, the population of the Melton local government area is expected to grow at 4% between 2011 and 2031 – the highest average annual growth rate in Greater Melbourne.
The Australian Infrastructure Audit (2015) projected that demand on the Melton/Sunshine section of the Ballarat Line would grow to around three times the current capacity by 2031. Road traffic is also projected to grow strongly, with daily trips to and from the Melton/Bacchus Marsh area forecast to increase from 14,300 trips per day in 2011 to 87,700 trips per day in 2031.
The Ballarat Line Upgrade project responds to the demand growth and will improve reliability by duplicating tracks and enhancing rail systems, adding passing loops and upgrading stations. The works would allow an increase in service frequency, and provide passengers with more reliable and less crowded trips. It would also reduce congestion on the road network by encouraging some travellers to use public transport instead of driving.
The proponent’s stated benefit-cost ratio (BCR) for the project is 1.1, with a net present value (NPV) of $60 million (using a 7% real discount rate and a P90 equivalent capital cost estimate).
Infrastructure Australia identified several issues in the economic analysis underpinning the business case, including the overestimation of road decongestion, health benefits and additional fare revenue. Infrastructure Australia also noted the omission of potential benefits from road maintenance cost savings, improved reliability of rail services, and improved amenity for passengers using new trains and upgraded stations.
Overall, Infrastructure Australia considers that, on balance, the project will deliver marginal net economic benefits to Australia. The economic and strategic case for the project is the strongest for works to the east of Melton, where growth is expected to be higher.
2. Strategic context
In Melbourne’s outer west, the populations of Melton, Moorabool and Ballarat grew respectively by 5%, 3% and 2% each year from 2012 to 2017. Meanwhile, Australian Bureau of Statistics’ data show that, in 2016, Melbourne’s CBD accounted for approximately 20% of employment in Greater Melbourne. This has led to more demand for commuter services on the Ballarat Line, which runs through this corridor. V/Line reported that annual rail trips on the Ballarat Line have increased from approximately 1.5 million in 2005/06, to 3.4 million in 2014/15 – an annual growth rate of 9.5%. Peak journey time indicators reported by V/Line suggest much of this growth is attributable to the Melton/Deer Park section of the Ballarat Line.
This trend is expected to continue with the Victorian Government forecasting the population of Melton to increase from 112,600 in 2011 to 266,000 in 2031 – an annual growth rate of 4.4%. This population growth is driven in part by the expansion of Melbourne’s Urban Growth Boundaries. Further west, the population of the Moorabool and Ballarat local government areas are forecast to grow at annual rates of 1.8% and 2.4% respectively.
Future congestion in the rail corridor between Melton and Sunshine was identified in the Australian Infrastructure Audit (2015), and the Melton Rail Line Upgrade Priority Initiative has already been included on the Infrastructure Priority List. While the Ballarat Line Upgrade project will enhance rail capacity between Melton and Sunshine, the Victorian Government is also considering electrification and quadruplication of the line east of Melton.
3. Problem description
V/Line’s May 2018 patronage data shows that four morning peak services originating from Bacchus Marsh/Melton and travelling to the Melbourne CBD reached 100% seated capacity by Melton or Deer Park. The three services originating further west from Ararat and Wendouree had 94%, 89% and 66% of seats occupied. In the evening peak, five of the six services departing Melbourne between 5pm and 6pm on the Ballarat Line reached 100% seated capacity by Footscray or Sunshine, while the other service reached 90%.
The average timetabled peak journey times from Wendouree, Bacchus Marsh and Melton are 119 minutes,
49 minutes and 38 minutes respectively. Average punctuality on the Ballarat Line has decreased from pre-2015 levels of near 95%. The decline was exacerbated by the opening of the Regional Rail Link in June 2015 to accommodate increased patronage on the Geelong Line, as Ballarat Line services now share the Regional Rail Link track east of Deer Park West with Geelong Line services. Between January and July 2018, V/Line reported punctuality of between 77% and 86% on the Ballarat Line.
The proponent states that increased service capacity and improved punctuality on the Ballarat Line cannot be achieved without additional track capacity. There is currently no spare track capacity to add more services to meet peak demand, and spare weekend capacity will be eroded over time. Without investment to increase capacity on the Ballarat Line, demand will increasingly exceed capacity.
Road demand is also forecast to increase along the M8 Motorway corridor with the Australian Infrastructure
Audit (2015) predicting that daily car trips to and from the Melton/Bacchus Marsh area will increase from 14,300 in 2011 to 87,700, over the period 2011 to 2031 – an annual growth rate of 9.5%. This is the highest percentage growth of car trips for any Melbourne statistical area in the same period. Improvements to rail infrastructure on the Ballarat Line, and particularly to Melton, can encourage people to take the train and reduce road congestion.
4. Project overview
The proponent’s objectives for the Ballarat Line Upgrade project are to:
• increase the number of peak services from Ballarat to Melbourne to accommodate current unmet demand and cater for growing patronage caused by forecast population growth on the Ballarat Line
• increase the on-time running performance of services on the Ballarat Line from the current levels and deliver travel time savings on some services
• increase consistency and reliability of services by addressing existing network constraints and providing a foundation for further capacity expansion in the future.
The project includes upgrades between Wendouree and Deer Park on the Ballarat Line, including track duplication, construction of new rail track and passing loops, enhanced stabling facilities, and station upgrades.
The proponent revised the project scope after completing the business case to reflect the findings of supplementary rail operations analysis, analysis of noise impacts on the local community and to meet legislative requirements. The proponent has advised that the revised project scope does not affect the benefits of the project, but increases the total project cost slightly. Infrastructure Australia’s evaluation has considered the revised scope, which includes the following:
• Melton to Deer Park West duplication: a new track on the northern side of the existing line between Deer Park West Junction and Melton
• Ballan passing loop: a 5-kilometre long passing loop near Ballan
• Spreadeagle passing loop: a passing loop between Bungaree East and Bungaree West Junctions on the Bungaree Deviation, making it possible to close the existing Bungaree loop and remove five level crossings
• Bacchus Marsh duplication: duplication of the rail line between Bacchus Marsh and Maddingly stabling facility
• Maddingly Stabling upgrade: removing stabling at Bacchus Marsh and replacing with stabling at Maddingly
• Bacchus Marsh Station upgrade: construction of a second platform and enhanced pedestrian access facilities
• Ballan Station upgrade: construction of a second platform and enhanced pedestrian access facilities
• Rockbank Station upgrade: construction of a second platform, enhanced pedestrian access facilities and a new car park on the southern side of the station
• Wendouree Station upgrade: construction of a second platform and enhanced pedestrian access facilities
• Rolling stock: allocation of 12 VLocity carriages (of 27 carriages being procured as part of the Regional Rail Upgrade Program) to provide additional service capacity on the Ballarat Line. Only the costs of the 12 carriages have been included in the cost-benefit analysis.
A new station will also be constructed at Toolern under a separate funding arrangement by the Victorian Government using Growth Areas Infrastructure Contributions. This is not part of the business case submitted for the Ballarat Line Upgrade. Therefore, the costs and benefits of this station have not been included in the Ballarat Line Upgrade business case or cost-benefit analysis.
5. Options identification and assessment
The proponent completed a systematic options identification and assessment process, which considered capital and non-capital solutions to determine the preferred solution of strategic rail infrastructure upgrades focusing on improving the condition of the existing rail network to increase rail capacity and performance.
The business case considered a thorough long-list of possible solutions, including demand management, better use of existing assets, and investing in alternative transport modes. However, the ‘rail infrastructure improvements’ option was selected as the recommended strategic option using only qualitative analysis. Infrastructure Australia’s Assessment Framework recommends the use quantitative analysis to shortlist options, with at least two project options (plus a base case) being considered in the detailed economic appraisal. For instance, an alternative option could have focused on infrastructure works near Melton/Bacchus Marsh and Deer Park where the strongest population and trip growth is forecast to occur
 Economic evaluation
The proponent’s stated BCR for the project is 1.1 with a NPV of $60 million, using a 7% real discount rate and a P90 equivalent capital cost estimate. The proponent did not estimate any wider economic benefits for the project, and they are not expected to be material.
The Victorian Government’s metropolitan and regional transport modelling tools, the Victorian Integrated Transport Model (VITM) and Victorian Patronage Elasticity Model (VPEM), were used to estimate the base case and project case demand forecasts. VITM was used to model the metropolitan part of the regional train network (Melton and Wyndham Vale), while VPEM was used to model the regional rail corridors.
The use of these two models is consistent with their respective strengths and capabilities. However, using a single multi-modal model to forecast demand changes within the entire study area would have been a more transparent method of deriving economic model inputs and estimating road user and environmental externality benefits.
The VITM model used Victoria’s Reference Case of projects, which includes existing and planned projects, some of which are yet to be funded. While the Reference Case approach is useful for the purposes of integrated long-term transport planning, it is unconventional for economic evaluations and could understate the BCR if the unfunded projects assumed in the base case do not proceed. The underlying population and employment growth rates used in the models are consistent with the Victorian Government’s planning policies.
Benefits and Costs breakdown (excluding wider economic benefits)
Proponent’s Stated Benefits and CostsPresent Value ($m, 2015) @ 7% real discount rate
% of total
Public transport user benefits
Reduced crowding $16 3%
Reduced wait time $67 11%
Service reliability $8 1%
New user benefits $20 3%
Fare resource cost correction $112 18%
Road user benefits
Road decongestion $178 29%
Resource cost correction for vehicle operating cost savings – cars $43 7%
Resource cost correction for parking $23 4%
Other (environmental externalities, accident cost savings, health benefits) $132 21%
Residual value of assets $23 4%
Total Benefits1 $622 (A) 100%
Capital costs (P90 equivalent)2,3 $437 78%
Operating and maintenance costs $124 22%
Total Costs1 $561 (B) 100%
Net Benefits – Net Present Value (NPV)4 $60 (C) n/a
Benefit–Cost Ratio (BCR)5 1.1 (D) n/a
Sources: Proponent cost-benefit analysis and business case
(1) Totals may not sum due to rounding.
(2) For the purpose of the cost-benefit analysis, the capital costs include the relevant proportion of rolling stock costs to reflect the allocation of new VLocity carriages procured in the Regional Rail Upgrade Program. They are not included in the capital cost of the project (see next page).
(3) The capital cost has been determined during procurement and are by the proponent to be equivalent to a P90 estimate.
(4) The net present value (C) is calculated as the present value of total benefits less the present value of total costs (A − B).
(5) The benefit–cost ratio (D) is calculated as the present value of total benefits divided by the present value of total costs (A ÷ B).
Capital costs and funding
Total capital cost (nominal, undiscounted) $517 million (P90 equivalent)
Proponent’s proposed Australian Government funding contribution (nominal, undiscounted) $467 million
Other funding (nominal, undiscounted) The remainder would be funded by the Victorian Government
Note: The project capital cost differs from the capital costs in the cost-benefit analysis, which includes rolling stock opportunity costs.
The economic appraisal was originally developed to measure the benefits and costs of a broader Regional Rail Upgrade Program, of which the Ballarat Line Upgrade is a component. The proponent subsequently prepared a revised cost-benefit analysis to consider only the costs and benefits of the Ballarat Line Upgrade project, which resulted in several discrepancies between the business case and the economic appraisal.
At a high-level, the economic appraisal shows that only 36% of the total project benefits are for public transport users. This proportion appears low, given that the primary objectives of the project are to improve the punctuality, reliability and capacity of rail services.
Infrastructure Australia identified several issues in the economic analysis underpinning the business case, including the overestimation and omission (under-estimation) of several benefit categories. The most significant issue is the overestimation of road decongestion benefits, which are $178 million (or 29%) of the project benefits. The economic appraisal used optimistic assumptions for the value of avoided vehicle kilometres driven and the extent of future road congestion in regional parts of the study area.
Further, the economic analysis artificially constrained the number of passengers who could travel on severely crowded trains, which potentially understates rail user benefits and overstates road user benefits.
Other minor issues include the use of optimistic parameters for estimating health benefits and the estimation of residual values using a 3% discount rate. Infrastructure Australia also noted that V/Line introduced a new Ballarat Line timetable with additional services after completing the business case, suggesting that the base case for the project may have been slightly underestimated.
Infrastructure Australia also identified a number of factors that could positively impact on the economic viability of the project, including:
• Rail performance: the business case appears to significantly underestimate potential rail punctuality and reliability improvements, as the project should allow the rail network to recover from unplanned incidents sooner and reduce passenger delays. The infrastructure investments should also benefit the Geelong/Bendigo Lines, which interface with the Ballarat Line near Deer Park West and Sunshine respectively. The proponent has been unable to provide accurate attribution on the cause of delays due to data collection limitations.
• Appraisal period: the business case considers a 30-year operational period in the appraisal, whereas a 50-year period would better reflect the longer asset life of rail infrastructure, including station buildings.
• Road maintenance: notwithstanding the previous discussion of impacts on the road network, it would be reasonable to allow for reduced road maintenance costs if fewer people travel by car as a result of the project.
• Amenity and safety: upgrading stations and providing new rolling stock will improve passenger experience and safety.
Overall, Infrastructure Australia considers that the project will deliver marginal net economic benefits to Australia. The economic and strategic case for the project is the strongest for works to the east of Melton, where travel demand growth is expected be higher.
6. Deliverability
The Ballarat Line Upgrade will be delivered by Rail Projects Victoria (formerly known as Melbourne Metro Rail Authority (MMRA)), on behalf of the Victorian Government. The project has been procured and will be delivered by a construction contractor consortium in partnership with V/Line, a government-owned corporation that operates the regional passenger train and coach services.
Rail Projects Victoria’s recommended procurement approach is a single-package, alliance-delivery model with accelerated competitive pricing. The approach to the procurement options analysis was informed by the Victorian Department of Treasury and Finance’s High Value High Risk (HVHR) Project Assurance Framework and National Public-Private Partnership (PPP) Guidelines (Procurement Options Analysis).
The business case noted that an independent peer review of the original project scope found that the original capital costs may have been underestimated by approximately 3%. However, the Ballarat Line Upgrade is now in the delivery phase and the proponent has confirmed that competitive tendering has validated the cost estimate and that the project is operating within the funding envelope prescribed in the business case.
A limited benefits realisation plan has been developed for the project. The benefits realisation plan does not link closely to the benefits measured in the cost-benefit analysis. For example, a total of three benefits have been identified as part of the benefits realisation planning: service punctuality, number of services and service frequency. These benefits led to four key performance indicators, which did not include reducing road congestion, which accounted for $178 million (29%) of project benefits, or increased patronage, which would lead to additional fare revenue accounting for 18% of project benefits. These two measures alone account for almost one-half of total benefits.
The business case does not provide a plan for a future post-completion review. Infrastructure Australia encourages the proponent to undertake and publish a post-completion review to assess the extent to which expected project benefits and costs have been realized. This will help to inform future projects and should assess project costs and outcomes for customers, against the expectations set out in the business case. Projects undertaken  under Ballarat Rail line upgradation  are
Project 1
Duplication of 18 kilometers of track between Deer Park West and Melton
The track duplication between Deer Park West and Melton, spanning a length of 18 kilometers (11 miles), and at Bacchus Marsh is a significant infrastructure project aimed at improving the efficiency and capacity of the railway network in those areas. The purpose of this track duplication is to address congestion issues, enhance operational flexibility, and improve service reliability for both passenger and freight trains.
Key Objectives:
1. Increase Capacity: By duplicating the track, the project aims to increase the capacity of the rail line, allowing for more frequent train services and reducing congestion.
2. Improved Reliability: Duplicating the track will help minimize delays caused by conflicts between trains traveling in opposite directions and provide better timetable adherence.
3. Enhanced Safety: The project aims to improve safety by reducing the risk of accidents and incidents due to overcrowding and congestion on the single-track sections.
4. Support Future Growth: The track duplication will cater to the anticipated increase in population and demand for rail services in the region, ensuring the infrastructure is prepared for future growth.
5. Efficiency and Operational Flexibility: By providing a dual-track system, the project aims to enhance operational flexibility, allowing for smoother and more efficient train movements and reducing potential bottlenecks.
Progress and Challenges:
1. Construction Milestones: Provide an overview of the major milestones achieved during the project, such as completion of feasibility studies, design phase, land acquisition, commencement of construction, and completion of specific sections.
2. Stakeholder Engagement: Highlight the efforts made to engage with local communities, residents, businesses, and other stakeholders to address concerns, gather feedback, and ensure their interests are considered throughout the project.
3. Technical Challenges: Outline any technical challenges or complexities encountered during the track duplication, such as geological conditions, environmental considerations, or coordination with existing infrastructure.
4. Budget and Schedule: Assess the project’s progress in terms of budget adherence and schedule timeline, identifying any deviations or challenges encountered and the corresponding mitigation measures implemented.
5. Risk Management: Evaluate the effectiveness of risk management strategies and actions taken to mitigate risks associated with the project, including risks related to safety, environmental impact, stakeholder management, and technical issues.
Lessons Learned:
1. Identify Success Factors: Identify and highlight successful practices, strategies, or methodologies that contributed to the project’s progress and successful outcomes.
2. Analyze Challenges and Mitigation Measures: Assess the challenges faced during the project and the effectiveness of the measures taken to address them. Identify areas for improvement in risk mitigation and management.
3. Communication and Stakeholder Engagement: Evaluate the effectiveness of communication and engagement efforts with stakeholders, identifying areas for improvement in maintaining transparent and productive relationships.
4. Project Management: Reflect on project management practices, including planning, resource allocation, coordination, and monitoring, to identify areas of improvement for future projects.
5. Technical and Engineering Considerations: Analyze the technical aspects of the project, such as design, construction methods, and quality control, to identify areas for improvement or innovation in similar future projects.
Conclusion: Summarize the overall progress of the track duplication project, including achievements, challenges, and lessons learned. Emphasize the impact of the project on improving rail services, addressing congestion, and supporting future growth. Provide recommendations for future projects based on the insights gained from this experience.
PROJECT 2
Building a new Cobblebank Station, between Rockbank and Melton, separately funded by the Victorian Government’s Growth Area Infrastructure Contribution
Building a new Cobble bank Station, between Rockbank and Melton, with separate funding from the Victorian Government’s Growth Area Infrastructure Contribution, is a significant infrastructure project aimed at improving transportation services and supporting the growth of the surrounding areas. The construction of this new station will provide increased accessibility to public transportation, enhance connectivity, and accommodate the growing population in the region.
Key Objectives:
1. Enhanced Connectivity: The construction of Cobblebank Station aims to improve connectivity by providing a new public transportation option for residents in the area. It will create convenient access to train services, reducing reliance on private vehicles and promoting sustainable transportation.
2. Catering to Population Growth: The project is designed to address the anticipated population growth in the region. By providing a new station, it ensures that the transportation infrastructure can accommodate the increased demand for public transportation services.
3. Improved Travel Efficiency: Cobblebank Station will reduce travel times for commuters by providing a closer and more convenient boarding point, thereby improving overall travel efficiency and reducing congestion on roads.
4. Supporting Development and Economic Growth: The new station will serve as a catalyst for economic development by providing improved connectivity to employment centers, educational institutions, and commercial areas. It will attract investment and support the growth of the local economy.
Progress and Challenges:
1. Funding and Budget Management: Provide an overview of the funding allocation and management for the construction of Cobblebank Station. Highlight any challenges or changes in the budget and how they were addressed.
2. Planning and Approvals: Discuss the planning process, including feasibility studies, environmental assessments, and obtaining necessary permits and approvals. Address any challenges or delays encountered during this phase and how they were mitigated.
3. Construction Milestones: Outline the major milestones achieved during the construction process, such as land acquisition, site preparation, station infrastructure construction, and installation of necessary amenities.
4. Stakeholder Engagement: Describe the efforts made to engage with local communities, residents, businesses, and other stakeholders to gather feedback, address concerns, and ensure their interests are considered. Highlight any successful engagement practices or challenges faced.
5. Integration with Existing Infrastructure: Address any technical or logistical challenges encountered during the construction of Cobblebank Station, particularly related to integrating the new station with existing railway infrastructure and ensuring seamless operations.
6. Timelines and Project Delivery: Evaluate the progress of the project in terms of adhering to the established timelines and key project milestones. Identify any delays or issues that may have impacted the project’s delivery and the steps taken to mitigate them.
Lessons Learned:
1. Project Planning and Execution: Reflect on the effectiveness of the project planning and execution strategies, including the identification of risks and contingencies, resource allocation, and coordination among stakeholders. Identify lessons learned to improve future project planning and execution.
2. Stakeholder Management: Evaluate the stakeholder management approach used during the project, including communication channels, engagement methods, and responsiveness to stakeholder needs and concerns. Identify areas for improvement in fostering positive relationships with stakeholders.
3. Collaboration and Coordination: Assess the effectiveness of collaboration and coordination among project teams, contractors, and relevant authorities involved in the construction of Cobblebank Station. Identify lessons learned to enhance coordination and cooperation in future projects.
4. Project Integration: Analyze the challenges and successes related to integrating the new station with existing infrastructure, ensuring smooth operations, and minimizing disruptions. Identify areas for improvement to optimize future integration efforts.
5. Public Engagement and Community Impact: Reflect on the engagement with the local community and the effectiveness of communication strategies in managing community expectations and addressing concerns. Identify ways to enhance community involvement and minimize negative impacts during construction.
Conclusion: Summarize the progress and achievements of the Cobblebank Station construction project. Highlight the successful outcomes, challenges faced, and the lessons learned throughout the process. Emphasize the impact
Overview
The goal of this assessment is to assess your practical knowledge and skills in:
 Directing planning of program risk management.
 Managing program risk.
 Assessing program risk management outcomes.
The workplace assessment is divided into ten tasks:
 Task 1.1 Identify and Assess Potential and Actual Risks
 Task 1.2 Develop Program Risk Management System
 Task 2.1 Manage the Implementation of Program Risk Management System
 Task 2.2 Maintain Program Risk Management System
Task 2.2 Monitor the Program Risk Management System
 Task 2.3 Manage Implementation of Program Risk Responses
 Task 2.4 Update Risk Register
 Task 3.1 Communicate Program Residual Risks
 Task 3.2 Review Program Risk Management Outcomes
 Task 3.3 Document Lessons Learned
The workplace assessment tasks must be completed for a workplace program consisting of at least two projects.
Each task comes with a set of instructions. You are to follow and perform these instructions while being observed by the assessor and submit any required documentation.
Before starting this assessment, your assessor will also discuss these tasks with you, as well as instructions and guidance for satisfactorily completing them. They will also organise the resources required for this assessment (listed below).
You are required to:
 Complete the tasks within the time allowed, as scheduled in-class roll.
 Review the instructions in each task included in this Workplace Assessment.
 Direct planning of program risk management.
 Manage program risk.
 Assess program risk management outcomes.
Resources required for assessment:
To complete this assessment, you will need access to the following:
 Workplace or a similar environment that will provide you access to:
o Complex workplace program
o Program stakeholders (must include project managers within the program)
o Records of similar previous programs and projects (e.g. risk registers from previous programs and projects, lessons learned document, etc.)
o Risk management frameworks and standards, e.g. your organisation’s risk management policy and procedures, PMBOK, AS/NZS ISO 31000:2009 (as applicable to the project)
o Organisation’s existing program risk management framework/system – policies, procedures, and processes.
o Organisation’s program risk management forms and templates:
 Program risk register template
 Program risk management system/plans
 Meeting minutes
 Program review completion
 Lessons Learned
o Opportunities to:
 Direct planning of program risk management
 Manage and monitor program risk
 Assess program risk management outcomes
o Workplace/program resources required to manage and monitor the implementation of the program risk management system, including but not limited to:
 Program risk management tools, applications, forms, and templates
 Program risk management documents
 Regular program risk management meetings
Part I. Direct Planning of Program Risk Management
1.1 Identify and Assess Potential and Actual Risks
  While being observed by your assessor, facilitate risk identification and assessment activity with program stakeholders (including project managers) and:
 identify and assess potential and actual program risks with the program stakeholders.
 support and mentor the project managers in analysing and evaluating risks.
Use your organisation’s template for documenting potential and actual program risks, or you may use the Generic Risk Register template provided along with this workbook.
At a minimum, your Risk Register must include:
 Potential risks
 Actual risks
 Descriptions of these risks
 Likelihood of risk occurring.
 The severity of consequence or impact if the risk occurs
 Risk rating based on likelihood and severity
 Risk owners
To help you identify these risks, consult relevant program stakeholders and review records of similar previous programs and projects (e.g. risk registers from previous programs and projects, lessons learned document, etc.).
Refer to and follow risk management frameworks and standards, e.g. your organisation’s risk management policy and procedures, PMBOK, AS/NZS ISO 31000:2009.
You will be assessed on:
 Practical knowledge of program risks.
 Practical skills in identifying program risks.
 Practical skills in directing identification, documentation, and analysis of program risks.
Before starting this task, review the following assessment forms provided along with this workbook.
 Workplace Assessment Task 1.1 – Assessor’s Checklist
This form lists the criteria your submission must address to complete this task satisfactorily.
 Workplace Assessment Task 1.1 – Observation Form
This form lists all the practical skills you need to demonstrate while completing this task.
Your assessor will also:
 Organise workplace resources required for you to complete this assessment.
 Discuss with you the requirements listed in the Assessor’s Checklist and Observation Form prior to the assessment.
 Address your queries and concerns regarding this task.
After completing this task, submit the following to your assessor:
 Risk Register
 Copies of the frameworks and standards you referred to for this task, e.g. your organisation’s risk management policy and procedures, PMBOK, AS/NZS ISO 31000:2009.
Risk Register Template
Project Name:
Prepared by:
Date:
Risk Rating Matrix
Note: The risk rating matrix below is not designed for a specific project. You must still update the table below to reflect the risk rating matrix to be applied to the project you are undertaking as part of the assessment.
Likelihood Consequence
InsignificantMinorModerateMajorSevere
12345
A (Almost certain) High High Very High Very High Very High
B (Likely) Moderate High High Very High Very High
C (Possible) Low Moderate High Very High Very High
D (Unlikely) Low Low Moderate High Very High
E (Rare) Low Low Moderate High High
Note: The descriptions below are not designed for a specific project. You must still update these descriptions to reflect the classification criteria to be applied to the project you are undertaking.
LIKELIHOOD
1. A (Almost certain) Is expected to occur in most circumstances
2. B (Likely) Will probably occur in most circumstances
3. C (Possible) Could occur at some time
4. D (Unlikely) Not likely to occur in normal circumstances
5. E (Rare) May occur only in exceptional circumstances
CONSEQUENCE
1. Insignificant Minor injuries, external reputation not affected, no environmental damage, threat of litigation, etc.
2. Minor Minor casualties that require medical attention off-site, no long term effects, external reputation minimally affected, minor environmental damage, single minor litigation, etc.
3. Moderate Several casualties that require hospitalisation with no long term effects, some environmental damage, single moderate litigation, etc.
4. Major Serious casualties, external reputation severely damaged, would cause extensive environmental damage, single major litigation, etc.
5. Severe Legal consequences, multiple litigations, termination of the contract, loss of life, permanent disability, external reputation irrevocably damaged, catastrophic environmental damage, etc.
ID Date Identified Risk Description Risk Impacts Likelihood of the Risk Occurring Consequence if the Risk Occurs Risk Rating Risk Owner Risk Treatments Risk prevention strategies Revised Likelihood of the Risk Occurring Revised Consequence of the Risk Occurs Revised Risk Rating (Residual Risk)
1.2 Develop Program Risk Management System
  Following the risks identified in Task 1.1:
 select an appropriate risk methodology that will be implemented in your program,
 develop a risk management system for your program.
Use your organisation’s template for documenting program risk management systems, or you may use the Generic Program Risk Management System/Plan template provided along with this workbook.
At a minimum, this system must cover/address:
 Risk methodology you selected and modifications to be made to this methodology to suit your program and risk context.
 Management of risk controls, treatments, and outcomes
 Communication of risk controls, treatments, and outcomes to stakeholders across the program.
 Measures to ensure transparency in this system.
 Measures to ensure that risks are assigned and treated in a timely manner.
Your Program Risk Management System/Plan submission may also include supplementary documents as attachments, such as risk management forms and templates, policies and procedures documents, project risk frameworks, etc.
To help you develop and document this system, consult relevant program stakeholders and review records of similar previous programs and projects (e.g. risk registers from previous programs and projects, risk management systems and plans from previous programs and risks, lessons learned document, etc.).
Refer to and follow risk management frameworks and standards, e.g. your organisation’s risk management policy and procedures, PMBOK, AS/NZS ISO 31000:2009.
You will be assessed on:
 Practical knowledge of program risk management methodologies, methods, and program risk-management systems.
 Practical skills relevant to developing a program risk-management system.
Before starting this task, review the Workplace Assessment Task 1.2 – Assessor’s Checklist provided along with this workbook. This form lists the criteria your submission must address to complete this task satisfactorily.
Your assessor will also:
 Organise workplace resources required for you to complete this assessment.
 Discuss with you the requirements listed in the Assessor’s Checklist prior to the assessment.
 Address your queries and concerns regarding this task.
After completing this task, submit the following to your assessor:
 A copy of your Program Risk Management System/Plan, including relevant documents such as risk management forms and templates, policies and procedures documents, project risk frameworks, etc.
 Copies of the frameworks and standards you referred to for this task, e.g. your organisation’s risk management policy and procedures, PMBOK, AS/NZS ISO 31000:2009.
Program Risk Management Plan Template
Note to Candidate: You may add/revise the sections and fields below, as needed.
Program Name:
Associated Projects:
Prepared by:
Date:
Program Objectives
Risk Management Objectives
Internal Context of Risk Management
External Context of Risk Management
Relevant Standards
Program Risk Management Methodology to be Used
Description
Modifications to align with program objectives
Methods to be used/implemented for this methodology
Management of Risk Control and Treatments
How risk controls and treatments are to be identified.
How risk controls and treatments are to be implemented.
Including Measures to ensure that risk controls and treatments are implemented in a timely manner, e.g. Service-Level Agreements (SLAs).
How risk controls and treatments are to be monitored.
Frequency of monitoring.
How risk controls and treatments are to be documented.
How risk controls and treatment are to be communicated effectively to relevant program stakeholders
Tools and software to be used in managing these controls and treatments
Who is responsible for regularly managing these risk controls and treatments?
Measures to ensure that these owners are notified immediately.
Arrangements for participation and consultation with relevant program/project stakeholders
Management of Risk Outcomes
How risk management outcomes are to be monitored.
Frequency of monitoring.
How risk management outcomes are to be documented.
How risk management outcomes are to be communicated effectively to relevant program stakeholders.
Tools and software to be used in monitoring and documenting these risk management outcomes.
Who is responsible for regularly monitoring and documenting these risk management outcomes
Arrangements for participation and consultation with relevant program/project stakeholders
Continuous Improvement – Risk Management System
Measures for regular review of the risk management system.
Date of next review
Measures to ensure feedback and issues about the system are actioned in a timely manner.
Who is responsible for acting on this feedback and issues?
Attachments
List of supplementary documents attached along with this program risk management system/plan
 Policies and procedures document
 Forms and templates to be used
 References to tools/applications to be used as part of this system.
Part II. Manage Program Risk
2.1 Manage the Implementation of Program Risk Management System While being observed by your assessor, on two separate instances, manage and monitor the implementation of the program risk management system. In each of these instances, you must also:
 Review how the program is tracking in achieving its objectives.
 Analyse variance between actual program progress and established program objectives.
 Evaluate how effective the program risk management system is in ensuring the program achieves its objectives.
 Confirm whether risks identified in Task 1.1 are being assigned to designated program stakeholders (as established in the program risk management system/plan).
 Confirm whether risks identified in Task 1.1  are being monitored and assessed at agreed intervals (as established in the program risk management system/plan).
 Identify issues in the implementation and assess their impact on the program achieving its progress.
 Identifying remedial access to address these issues.
Summarise your findings from each instance into a report. Use your organisation’s templates for monitoring program implementation (e.g. monitoring, reporting templates, etc.).
How you will complete this will depend on the methods outlined in your program risk management system.
You will be assessed on:
 Practical knowledge of program risk management systems and plans.
 Practical skills relevant to managing and monitoring the implementation of program risk management systems and plans.
In addition to your reports, secure other documents from each of these instances demonstrating that you have managed the implementation of the program risk management system.
These documents may include but are not limited to meeting minutes, email correspondences with relevant program stakeholders, other similar program risk management documents, etc.
Refer to and follow established risk management systems, plans and processes in your program when completing this task.
After completing this task, submit the following to your assessor:
 Instance 1:
o Program monitoring report (or similar document)
o Documentation showing you have managed the implementation of the program risk management system
o Copy or excerpt of the program risk management system/plan that you referred to and followed to complete this task.
 Instance 2:
o Program monitoring report (or similar document)
o Documentation showing you have managed the implementation of the program risk management system
o Copy or excerpt of the program risk management system/plan that you referred to and followed to complete this task.
Risk Treatment benefit Disadvantage Result
2.2 Maintain Program Risk Management System
  Based on the outcomes of your monitoring in Task 2.1, update and the Program Risk management System/Plan you created in Task 1.2.
Secure a copy of the plan with the changes and edits you made highlighted/tracked for your assessor’s reference.
Changes may also be made to the supplementary documents, e.g. risk management forms and templates, policies and procedures documents, project risk frameworks, etc. Include any updated supplementary documents in your submission for this task.
Endorse the updated Program Risk management System/Plan to relevant program stakeholders, e.g. through email or update the copy in your organisation’s record-filing system.
You will be assessed on: Practical knowledge of program risk management methodologies, methods, and program risk-management systems.
 Practical skills relevant to maintaining a program risk-management system.
Before starting this task, review the Workplace Assessment Task 2.2 – Assessor’s Checklist provided along with this workbook. This form lists the criteria your submission must address to complete this task satisfactorily.
After completing this task, submit the following to your assessor:
 A copy of the Program Risk Management System/Plan with the changes and edits you made highlighted/tracked for your assessor’s reference.
2.3 Manage Implementation of Program Risk Responses While being observed by your assessor, on two separate instances, manage the implementation of responses or treatments to actuated program risks (i.e. actual risks).
Prior to the implementation of these risk responses and treatments:
 Review actuated program risk and prepare an analysis report on its impact on the program objectives. Use your organisation’s template for preparing this analysis.
 Secure authorisation from relevant program stakeholders to implement these risk responses and treatments.
How you will complete this will depend on the methods outlined in your program risk management system as well as the objectives of your program.
You will be assessed on:
 Practical knowledge of program risk responses and treatments.
Secure documents from each of these instances. These documents may include but are not limited to meeting minutes, email correspondences with relevant program stakeholders, copies of reports, other similar program risk management documents, photo/video documentation, etc.
Refer to and follow established risk management systems, plans and processes in your program when completing this task.
Before starting this task, review the Workplace Assessment Task 2.3 – Observation Form provided along with this workbook. This form lists all the practical skills you need to demonstrate while completing this task.
Your assessor will also:
 Organise workplace resources required for you to complete this assessment.
 Discuss with you the practical skills listed in the Observation Form prior to the assessment.
 Address your queries and concerns regarding this task.
After completing this task, submit the following to your assessor:
 Instance 1:
o Documentation showing you have managed the implementation of program risk responses/treatments.
o Copy of your impact analysis of the actuated program risk.
o Copy of authorisation from program stakeholders authorising you to implement these program risk responses/treatments.
o Copy or excerpt of the program risk management system/plan that you referred to and followed to complete this task.
o Copy of program objectives relevant to the implementation of this risk response/treatment.
 Instance 2:
o Documentation showing you have managed the implementation of program risk responses/treatments.
o Copy of your impact analysis of the actuated program risk.
o Copy of authorisation from program stakeholders authorising you to implement these program risk responses/treatments.
o Copy or excerpt of the program risk management system/plan that you referred to and followed to complete this task.
o Copy of program objectives relevant to the implementation of this risk response/treatment.
2.4 Update Risk Register
  Following your implementation of risk responses/treatments in Task 2.3:
 Conduct another assessment of the risks initially identified in Task 1.1.
 Identify residual risks following your implementation of risk responses/treatments.
 Update your Program Risk Register (from Task 1.1) to reflect these outcomes.
At a minimum, your updated Risk Register must include:
 Residual risks
 Descriptions of these risks
 Revised likelihood of the risk occurring.
 Revised severity of consequence or impact if the risk occurs
 Revised risk rating based on revised likelihood and severity
 Updated risk ownership/responsibility
To help you identify these residual risks, consult relevant program stakeholders and review records of similar previous programs and projects (e.g. risk registers from previous programs and projects, lessons learned document, etc.).
Refer to and follow risk management frameworks and standards, e.g. your organisation’s risk management policy and procedures, PMBOK, AS/NZS ISO 31000:2009.
Secure a copy of the Program Risk Register with the changes and edits you made highlighted/tracked for your assessor’s reference.
You will be assessed on:
 Practical knowledge of program risks.
 Practical skills in identifying program risks.
 Practical skills in directing identification, documentation, and analysis of program risks.
Before starting this task, review the Workplace Assessment Task 2.4 – Assessor’s Checklist provided along with this workbook. This form lists the criteria your submission must address to complete this task satisfactorily.
Your assessor will also:
 Organise workplace resources required for you to complete this assessment.
 Discuss with you the requirements listed in the Assessor’s Checklist prior to the assessment.
 Address your queries and concerns regarding this task.
After completing this task, submit the following to your assessor:
 Updated Risk Register
Part III. Assess Program Risk Management Outcomes
3.1 Communicate Program Residual Risks
  IMPORTANT: This task must be done at program completion.
Communicate the residual risks and their associated liabilities to relevant program stakeholders, e.g. your program sponsor and project managers, while being observed by your assessor.
Use your organisation’s template for documenting meeting minutes, or you may use the Generic Meeting Minutes template provided along with this workbook.
You will be assessed on:
 Practical knowledge of program risks.
 Practical skills relevant to identifying and documenting program residual risk and communicating to stakeholders any transferred liability at program completion.
Before starting this task, review the Workplace Assessment Task 3.1 – Observation Form provided along with this workbook. This form lists all the practical skills you need to demonstrate during your meeting with program and project stakeholders.
Your assessor will also:
 Organise workplace resources required for you to complete this assessment.
 Discuss with you the requirements listed in the Assessor’s Checklist prior to the assessment.
 Address your queries and concerns regarding this task.
After completing this task, submit a copy of the meeting minutes to your assessor.
Meeting Minutes Template
Meeting Details
Meeting called
Date of meeting
Time of meeting
Location of meeting
Meeting Participants
Facilitator
Note-taker
Attendees
Agenda Item 1
Discussion point 1
Discussion point 2
Discussion point 3
Agenda Item 2
Discussion point 1
Discussion point 2
Discussion point 3
Agenda Item 3
Discussion point 1
Discussion point 2
Discussion point 3
Agenda Item 4
Discussion point 1
Discussion point 2
Discussion point 3
General Discussion
Discussion point 1
Discussion point 2
Discussion point 3
Action Items
Action Item Assigned Due Date
3.2 Review Program Risk Management Outcomes While being observed by your assessor, conduct a meeting with relevant program stakeholders to:
 review and analyse program outcomes in relation to program risk,
 assess the effectiveness of the risk management methodology implemented in your program.
 seek feedback on risk management and identify actions/responses to address this feedback
Use your organisation’s template for documenting program review, or you may use the Generic Program Completion Review template provided along with this workbook.
You will be assessed on:
 Practical knowledge of risk management methodologies.
 Practical skills relevant to reviewing program outcomes and effectiveness of risk management methodologies.
 Practical skills relevant seeking feedback from program stakeholders.
Before starting this task, review the following assessment forms provided along with this workbook.
 Workplace Assessment Task 3.2 – Assessor’s Checklist
This form lists the criteria your submission must address to complete this task satisfactorily.
 Workplace Assessment Task 3.2 – Observation Form
This form lists all the practical skills you need to demonstrate while completing this task.
Your assessor will also:
 Organise workplace resources required for you to complete this assessment.
 Discuss with you the practical skills listed in the Observation Form prior to the assessment
Program Completion Review Template
Program name:
Prepared by:
Date:
Assess Program Outcomes
Program Objectives Assess Achievement of Objectives Reasons for underachievement
List the program objectives.  Fully achieved
 Partially achieved
 Not achieved List reasons that led to partially or not achieved objectives.
 Fully achieved
 Partially achieved
 Not achieved
 Fully achieved
 Partially achieved
 Not achieved
Program Objectives Assess Achievement of Objectives Reasons for underachievement
 Fully achieved
 Partially achieved
 Not achieved
 Fully achieved
 Partially achieved
 Not achieved
 Fully achieved
 Partially achieved
 Not achieved
 Fully achieved
 Partially achieved
 Not achieved
 Fully achieved
 Partially achieved
 Not achieved
 Fully achieved
 Partially achieved
 Not achieved
Assess Effectiveness of Risk Treatments
Risk Risk Owner Initial Risk Rating Final Risk Rating
(Residual Risk) Effectiveness of Treatments Remaining Transferred Liability Remaining Liability to be Transferred to
List the program risks. List the risk owner. List the risk rating before the remedial actions are implemented, e.g. low, moderate, high, very high. List the final risk rating at the end of the program, e.g. low, moderate, high, very high. Comment on the effectiveness of implemented treatments. Which were effective, which ones were not, etc. List the liability to be transferred. List who the remaining liability will be transferred to.
End of Program Completion Review Template
3.3 Document Lessons Learned
  Reflect on program risk management, analyse the feedback received in Task 3.2, and document the lessons learned.
Include in your lessons learned document improvements that must be implemented in risk management tools, frameworks, systems, methodologies, and standards in future programs.
Use your organisation’s template for documenting the lessons learned, or you may use the Generic Lessons Learned template provided along with this workbook.
You will be assessed on:
 Practical skills relevant to analysing, documenting and recommending lessons learned for application in other programs.
Before starting this task, review the Workplace Assessment Task 3.3 – Assessor’s Checklist provided along with this workbook. This form lists the criteria your submission must address to complete this task satisfactorily.
Your assessor will also:
 Organise workplace resources required for you to complete this assessment.
 Discuss with you the requirements listed in the Assessor’s Checklist prior to the assessment.
 Address your queries and concerns regarding this task.
After completing this task, submit the completed Lessons Learned to your assessor.
Lessons Learned Template
Project Name:
Prepared by:
Date:
Lesson Learned Number:
Lesson Learned Proposed Name:
Project Team Role:
Process Group:*
• Initiating • Planning • Executing • Controlling • Closing
Specific Project Management Process Being Used:
Specific Practice, Tool or Technique Being Used:
What was the action undertaken?
What was the result?
What might have been a more preferred result?
What might have created the more preferred result?
What is the specific Lesson Learned?
How could one identify a similar situation in the future?
What behaviour is recommended for the future?
Where and how can this knowledge be used later in this current project?
Where and how can this knowledge be used in a future project?
Who should be informed about this Lesson Learned? (check one)
• Executive(s) • Project Manager(s) • Project Team(s) • All Staff • Other:
How should this Lesson Learned be disseminated? (check all that apply)
• E-mail • Intranet/Web site • Intranet/Web site • Tip Sheet/FAQ • Library
Other:
Have you attached reference(s), example(s) and/or additional material(s)?  YES      NO
Name(s) of attachment(s):
1.
2.
End of Lessons Learned Template