SOLUTION: Project Initiation, Planning and Execution | My Assignment Tutor

Page 1 Kaplan Business School Assessment OutlineAssessment 1 Information Subject Code:MBA643Subject Name:Project Initiation, Planning and ExecutionAssessment Title:Risk analysis and mitigation project (Individual)Assessment Type:ProjectWord Count:1500-2000Words(+/-10%)Weighting:30 %Total Marks:30Submission: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 riskanalysis 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%20Light%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-spore3. 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.pdf4. 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 OutlineThe project you will analyse will depend on the LAST digit of your student number:o 0 and 1 = Project 1o 2 and 3 = Project 2o 4 and 6 = Project 3o 7= Project 4o 8= Project 5o 9= Project 6There are three parts to the Analysis:Part A – in which students discuss their allocated project case study (you are allocated one basedon your last name) and outline rationale, key features, funding and stakeholdersPart B – in which students develop their risk analysis frameworkPart C – in which students identify mitigation measures and proposals for overcoming the risksidentified in their case studyThe links provided above are just to outline the project. Students are required to conductADDITIONAL 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 commercialconsiderations when constructing the plan and identify whether the plan is cost effective or has anyimplementation 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 informationthrough 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 Sizeo Budget and estimated costo Time required to complete the projecto Key construction elements or phases (e.g. if you are building a toll road one keyelement 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 (2Marks)• Identify the Key Stakeholders in the project (1 Mark)Required word count is between 500-700 words.Page 3 Kaplan Business School Assessment OutlinePart B: Risk Analysis (8 marks)In this part students develop a risk assessment analysis in which they use both qualitative andquantitative measures to identify potential risks in the project and determine how they should beweighted.The risk analysis should draw upon principles outlined in the Project Management Body ofKnowledge (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 eventsare mapped against their possible consequences. Other risk assessment and analysis activitiesmight 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 todevelop a risk mitigation plan and strategy. Based on information identified in the risk analysisstudents will be expected to develop a plan for how they deal with the various identified risks. Themitigation plan should outline which risks need to be address and in what order. The plan shouldalso 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 possibleplaces should include the reference to time and resource (costs) implications. Students need to takeinto account commercial considerations when constructing the plan and identify whether the plan iscost 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%20Referencing%20-%20Interactive%20Road%20Map%20v.1.pdfPage 4 Kaplan Business School Assessment OutlineAssessment Marking GuideYou will be marked based on the below rubrics Part A: Project OverviewOutline key features of the project based on research and interpretation of real-worlddata and informationCriteriaRequirementMarks Availablei) Overall BudgetSummarise the social andeconomic rationale(including benefits anddrawbacks) for the project2 marksii) Key Statisticsa) Describe projectscope with referenceto what is being builtand provide technicalimage/map ifappropriateb) Outline the budgetand estimated costc) Estimate the timerequired to completethe project – time linemay be provided ifavailabled) Identify the keyconstructionelements or phases(e.g. if you arebuilding a toll roadone key element maybe the tunnelsegment or bridgesegment) e)environmental5 marksiii) FundingMechanismsAnalyse the fundingmechanism of the project –i.e how does the projectmake money or derivesocial benefit to providereturn to its promoters2 marksiv) Key StakeholdersIdentify the keystakeholders1 mark Page 5 Kaplan Business School Assessment Outline Part B: Risk AnalysisIntegrate qualitative and quantitative risk measures, with reference to theory, in orderto identify and evaluate potential risks to the projecti) Potential RisksIdentify potential risk usingboth qualitative andquantitative risk measureswith reference to PMBOKprinciples4 marksii) Risk MatrixConstruct a risk matrix andassess the likelihood ofpotential risks as well astheir consequences withreference to financialmeasures4 marksPart C: Risk Mitigation PlanFormulate a risk mitigation plan by justifying which risks need to be addressed andhowi) Risk EvaluationJustify which project risksneeds to be addressed, howthey need to be addressedand in what order withreference to time andresource cost implications.Distinguish risks which donot need to be addressed.5 marksFormulate a risk mitigationstrategy based on Parts Aand B and critique the planwith reference tocommercial considerationsand cost effectiveness.5 marksPresentation and Referencing : Conduct relevant research of project managementliterature and market data and information relevant to your company. Acknowledgeyour sources.Appropriate in-textHarvard Referencingand reference listYou must reference in textand have a reference list atthe end of your assignment.See Harvard referencingguide on Academic SuccessCentre portal page.2 marksTotal30 Page 6 Kaplan Business School Assessment OutlineImportant Study InformationAcademic Integrity PolicyKBS values academic integrity. All students must understand the meaning and consequencesof cheating, plagiarism and other academic offences under the Academic Integrity and ConductPolicy.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 AssessmentsSubmissions that exceed the word limit by more than 10% will cease to be marked from the pointat which that limit is exceeded.Study AssistanceStudents may seek study assistance from their local Academic Learning Advisor or refer to theresources on the MyKBS Academic Success Centre page. Click here for this information.