Monitoring and controlling project risks
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Student Assessment BSBPMG508A - Manage Project Risk
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Please make sure that you have access to a computer and the internet (if you prefer to type the answers).
Due date of this task is according to your timetable unless otherwise not advised by your trainer/assessor.
Should you still be deemed Not Yet Competent, you will have two opportunities to resubmit your assessments or appeal the result.
As part of the assessment process, all students must abide by any relevant assessment policies as provided during induction.
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Your assessment tasks are well presented, well referenced and word processed
Your assessment tasks include your full legal name on each and every page.
An explanation of observations:
Observation is on-the-job
The observation will require:
Performing a skill or task that is asked of you
the task to be undertaken. As trainer/assessor, you will ensure each student is provided with the correct equipment and/or
materials to complete the task. Students should also be informed on how long they must complete the task.
Task Outcome
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Student Assessment BSBPMG508A - Manage Project Risk
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d) Only if the risk is in balance with the reward by accepting the project risk.
Question 2: Frances is the project manager of the LKJ Project. Which of the following techniques will she use to
d) Variance meetings
Question 3: Which of the following is not part of a risk management plan?
Question 4: Which one of the following best describes the risk register?
a) It documents all of the outcomes of the other risk management processes.
project for good or bad.
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b) As early as possible in the planning process
c) Throughout the product management life cycle
c) An elite project team that comes in and fixes project risks and threats
d) Ratings of 1 to 100
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planning will need to be added to the project schedule. Why?
a) The risk planning should always be the same amount of time as the activities required by the scope change.
stakeholders. How often should risk identification take place?
a) Once at the beginning of the project
a) Decision tree analysis
b) Decomposition of the project scope
handling and installation of the chemicals and filter equipment to an experienced contractor. This is an example of
which of the following?
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Student Assessment BSBPMG508A - Manage Project Risk
6. The first step in the risk management process is defining the _ identifying risks, goes on to analyze risks_____________.
7. The _______risk planning____________________________________ captures each risk event, the probability of it occurring, the potential impact, when it may occur and optionally the degree of difficulty in detecting it.
12. Due to the impact over a long period of time, risk events that occur in the early stages of a project will have a greater cost impact than those that occur in later stages.
True False
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True False
Review the learning material and conduct your own research to answer the following questions
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Question 22: What are the parallels between a standard such as AS/NZS/ISO 31000:2009 and the Risk Management Plan?
