BSBPMG407A Apply risk management techniques

Revision Number: 1

BSBPMG407A Apply risk management techniques

Modification History

Not applicable.

Unit Descriptor

Unit descriptor	This unit describes the performance outcomes, skills and knowledge required to assist with aspects of risk management within a project. It specifically involves assisting the project team to plan for, control and review risks associated with the project. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

Application of the Unit

Application of the unit	This unit applies to a project team member working under the direction of a project manager with other project team members. The individual may be operating within an organisation or as a consultant. The skills should be applied in the context of multiple complex projects, with the individual operating as part of a specialist project management team. In the context of this unit a complex project is defined as a project which involves: the need for a comprehensive and multi faceted project plan the need for a formal internal or external communications strategy a dedicated and diverse project budget multiple administrative components multiple operational components a wide range of stakeholders a project operations team. The functions performed by a worker managing a straightforward project or a section of a larger project where project management is not the main focus of the job role are covered by BSBPMG510A Manage projects.

Licensing/Regulatory Information

Not applicable.

Pre-Requisites

Prerequisite units

Employability Skills Information

Employability skills	This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements describe the essential outcomes of a unit of competency.	Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

Elements and Performance Criteria

ELEMENT	PERFORMANCE CRITERIA
1. Assist with risk analysis and planning	1.1. Contribute to identifying and prioritising potential risks throughout the project life cycle 1.2. Provide input, within delegated authority, to develop risk management strategies and risk management plans within established guidelines 1.3. Establish risk analysis methods, techniques and tools to assist in the analysis of risks 1.4. Ensure reporting mechanisms for risks are planned for and agreed to
2. Conduct risk control activities	2.1. Undertake control activities in accordance with agreed project and risk management plans to achieve project objectives 2.2. Measure progress and act on perceived, potential or actual risks within authority or report to others for response 2.3. Contribute to the implementation of agreed risk approaches and the amendment of plans to reflect the changing environment 2.4. Identify and report opportunities for action in the same way as risks
3. Contribute to assessing risk management outcomes	3.1. Contribute to the ongoing review of project outcomes to determine the effectiveness of risk management activities by accessing project records and other available information 3.2. Report risk management issues and responses to others for lessons learned or application in future projects

Required Skills and Knowledge

REQUIRED SKILLS AND KNOWLEDGE
This section describes the skills and knowledge required for this unit.
Required skills
planning, organising and analytical skills to assist with risk analysis, risk management planning and review of risk management outcomes communication and teamwork skills to contribute to collective processes for risk management initiative and enterprise to think laterally about risks and how they might occur.
Required knowledge
risk management framework and risk management processes.

Evidence Guide

EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit	Evidence of the following is essential: application of risk management techniques in relation to multiple complex projects knowledge of risk management methods, techniques and tools.
Context of and specific resources for assessment	Assessment must ensure: access to examples of project management documentation for risk management.
Method of assessment	A range of assessment methods should be used to assess practical skill and knowledge. The following assessment methods are appropriate for this unit: direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate analysis of responses addressing case studies and scenarios which present issues and problems in project risk management oral or written questioning to assess knowledge of strategies for managing project risk and their application to different situations review of risk analysis methods, techniques and tools review of risk management plans evaluation of reporting of risk management issues and responses.
Guidance information for assessment	Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: other units from the Certificate IV in Project Management.

Range Statement

RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Delegated authority means:	subject to frequent change in a multi-disciplinary environment under limited guidance and supervision within agreed authorisation and limits within established organisational framework, procedures and routines
Risk analysis methods, techniques and tools may include:	using personal experience and/or subject matter experts assisting in qualitative and/or quantitative risk analysis, such as schedule simulation, decision analysis, contingency planning and alternative strategy development using specialist risk analysis tool/s to assist in the decision making process
Others may include:	higher project authorities project manager project specialists or personnel team members
Opportunities may include:	better means of achieving a result changes in the project or broader environment that offer scope for rescheduling activities to better effect efficiencies or methods to work more effectively, such as ways of shortening an activity initial project activities that reveal entirely different sets of priorities for example, product development, research and policy development responses to changing commercial/competitive conditions
Reviews may include evaluations of:	agreed major milestones, for example phases and sub-contracts change of key personnel delivery of major deliverables finalisation of project and other agreed milestones
Records may include:	lists of potential risk events (risk register/log) project and/or organisation files and records risk analysis and reappraisal risk diaries, incident logs, occurrence reports and other such documentation risk management lessons learned risk management plan

Unit Sector(s)

Unit sector

Competency field

Competency field	Management and Leadership - Project Management

Co-requisite units

Co-requisite units