Risk Analysis

Page 1 Kaplan Business School Assessment Outline
Assessment 1 Information
Subject Code: MBA643
Subject Name: Project Initiation, Planning and Execution
Assessment Title: Risk analysis and mitigation project (Individual)
Assessment Type: Project
Word Count:
1500-
2000
Words (+/-10%)
Weighting: 30 %
Total Marks: 30
Submission: Via Turnitin,
Due Date: Monday, Week 6 23:55pm AEDT
Assessment Description.
You are a project analyst at a large construction company. You have been asked to develop a risk
analysis and mitigation plan for one of the below five projects:
1. Sydney Light Rail:
https://www.parliament.nsw.gov.au/researchpapers/Documents/CBD%20and%20South%20East%20
Light%20Rail.pdf Also see:
https://www.railway-technology.com/features/sydney-light-rail-fiasco/
2. Singapore Sun Cable: https://www.suncable.sg/ Also see:
https://www.theguardian.com/environment/2019/jul/14/just-a-matter-of-when-the-20bn-plan-topower-singapore-with-australian-solar
https://www.straitstimes.com/business/economy/20b-plan-to-supply-solar-power-fromaustralia-to-spore
3. Future Frigates (War Ships)
https://www.defence.gov.au/CASG/EquippingDefence/SEA%205000%20Phase%201.asp Also see:
https://www.defence.gov.au/casg/Multimedia/Hunter_Class_FFG_Fact_Sheet-9-9243.pdf
https://www.defence.gov.au/casg/Multimedia/GCSInfographic-9-9233.pdf
4. Cross River Rail, Brisbane: https://crossriverrail.qld.gov.au/
5. Hudson Yards, New York: https://www.hudsonyardsnewyork.com/about/building-hudsonyards/
6. Western Sydney Airport, https://westernsydneyairport.gov.au/
Page 2 Kaplan Business School Assessment Outline
The project you will analyse will depend on the LAST digit of your student number:
o 0 and 1 = Project 1
o 2 and 3 = Project 2
o 4 and 6 = Project 3
o 7= Project 4
o 8= Project 5
o 9= Project 6
There are three parts to the Analysis:
Part A – in which students discuss their allocated project case study (you are allocated one based
on your last name) and outline rationale, key features, funding and stakeholders
Part B – in which students develop their risk analysis framework
Part C – in which students identify mitigation measures and proposals for overcoming the risks
identified in their case study
The links provided above are just to outline the project. Students are required to conduct
ADDITIONAL research into their allocated project to identify and address potential risks, etc.
which might reasonably be foreseeable or expected. Students need to take into account commercial
considerations when constructing the plan and identify whether the plan is cost effective or has any
implementation issues.
The three parts are detailed below:
Part A: Project Overview (10 marks)
For each student’s allocated case study students must be able to identify the following information
through their own research:
• The overall budget for the project (real or projected)
• Social and economic rationale: Including benefits and drawbacks for the project (2 Marks)
• Key Statistics: Provide key information about the project: (5 Marks)
o Scope and Size
o Budget and estimated cost
o Time required to complete the project
o Key construction elements or phases (e.g. if you are building a toll road one key
element may be the tunnel segment or bridge segment)
o Environmental costs or benefits
• Funding mechanisms: How the project makes money or provide return to its promoters (2
Marks)
• Identify the Key Stakeholders in the project (1 Mark)
Required word count is between 500-700 words.
Page 3 Kaplan Business School Assessment Outline
Part B: Risk Analysis (8 marks)
In this part students develop a risk assessment analysis in which they use both qualitative and
quantitative measures to identify potential risks in the project and determine how they should be
weighted.
The risk analysis should draw upon principles outlined in the Project Management Body of
Knowledge (PMBOK) and material discussed in class in weeks 1 -5.
Students would be expected to produce a risk matrix where the likelihood of potential risks events
are mapped against their possible consequences. Other risk assessment and analysis activities
might focus on a range of financial measures associated with the project.
Required word count is 500-600 words.
Part C: Risk Mitigation Plan (10 marks)
In this part students will use the information collected and analysed in the previous two parts to
develop a risk mitigation plan and strategy. Based on information identified in the risk analysis
students will be expected to develop a plan for how they deal with the various identified risks. The
mitigation plan should outline which risks need to be address and in what order. The plan should
also identify and potential risks that they believe do not require attention.
The plan should then explain how risks might be addressed and by what means. Where possible
places should include the reference to time and resource (costs) implications. Students need to take
into account commercial considerations when constructing the plan and identify whether the plan is
cost effective or has any implementation issues. (10 marks)
Required word count is 500-700 words.
Presentation and Referencing (2 marks)
Please ensure you reference correctly in line with the referencing guide:
https://elearning.kbs.edu.au/pluginfile.php/190037/mod_resource/content/0/NEW_Kaplan%20Harvard%20Re
ferencing%20-%20Interactive%20Road%20Map%20v.1.pdf
Page 4 Kaplan Business School Assessment Outline
Assessment Marking Guide
You will be marked based on the below rubrics
Part A: Project Overview
Outline key features of the project based on research and interpretation of real-world
data and information
Criteria Requirement Marks Available
i) Overall Budget Summarise the social and
economic rationale
(including benefits and
drawbacks) for the project
2 marks
ii) Key Statistics a) Describe project
scope with reference
to what is being built
and provide technical
image/map if
appropriate
b) Outline the budget
and estimated cost
c) Estimate the time
required to complete
the project – time line
may be provided if
available
d) Identify the key
construction
elements or phases
(e.g. if you are
building a toll road
one key element may
be the tunnel
segment or bridge
segment) e)
environmental
5 marks
iii) Funding
Mechanisms
Analyse the funding
mechanism of the project –
i.e how does the project
make money or derive
social benefit to provide
return to its promoters
2 marks
iv) Key Stakeholders Identify the key
stakeholders
1 mark
Page 5 Kaplan Business School Assessment Outline
Part B: Risk Analysis
Integrate qualitative and quantitative risk measures, with reference to theory, in order
to identify and evaluate potential risks to the project
i) Potential Risks Identify potential risk using
both qualitative and
quantitative risk measures
with reference to PMBOK
principles
4 marks
ii) Risk Matrix Construct a risk matrix and
assess the likelihood of
potential risks as well as
their consequences with
reference to financial
measures
4 marks
Part C: Risk Mitigation Plan
Formulate a risk mitigation plan by justifying which risks need to be addressed and
how
i) Risk Evaluation Justify which project risks
needs to be addressed, how
they need to be addressed
and in what order with
reference to time and
resource cost implications.
Distinguish risks which do
not need to be addressed.
5 marks
Formulate a risk mitigation
strategy based on Parts A
and B and critique the plan
with reference to
commercial considerations
and cost effectiveness.
5 marks
Presentation and Referencing : Conduct relevant research of project management
literature and market data and information relevant to your company. Acknowledge
your sources.
Appropriate in-text
Harvard Referencing
and reference list
You must reference in text
and have a reference list at
the end of your assignment.
See Harvard referencing
guide on Academic Success
Centre portal page.
2 marks
Total 30
Page 6 Kaplan Business School Assessment Outline
Important Study Information
Academic Integrity Policy
KBS values academic integrity. All students must understand the meaning and consequences
of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct
Policy.
What is academic integrity and misconduct?
What are the penalties for academic misconduct?
What are the late penalties?
How can I appeal my grade?
Click here for answers to these questions:
http://www.kbs.edu.au/current-students/student-policies/.
Word Limits for Written Assessments
Submissions that exceed the word limit by more than 10% will cease to be marked from the point
at which that limit is exceeded.
Study Assistance
Students may seek study assistance from their local Academic Learning Advisor or refer to the
resources on the MyKBS Academic Success Centre page. Click here for this information.