Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to manage risk within a project to avoid adverse effects on project outcomes. It covers determining, monitoring and controlling project risks, and assessing risk management outcomes. 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 an individual who is clearly and solely responsible for the management and leadership of a complex project, either as an employee of an organisation or an external consultant. In the context of this unit a complex project is defined as a project which involves:
The functions performed by a program manager to manage risk within multiple projects are addressed in BSBPMG608A Direct risk management of a project program. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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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. Determine project risks |
1.1. Identify, document and analyse risks , in consultation with stakeholders and higher project authority, as the basis for risk planning 1.2. Use established risk management techniques and tools , within delegated authority , to analyse risks, assess options and recommend preferred risk approaches 1.3. Develop risk management plans, secure agreement of stakeholders and communicate plans to ensure clarity of understanding and ongoing management of risk factors 1.4. Establish designated risk management processes and procedures to enable effective management and communication of risk events, responses and results |
2. Monitor and control project risks |
2.1. Manage project in accordance with established project and risk management plans to ensure a common approach to the achievement of objectives 2.2. Monitor progress against project plans to identify variances and recommend responses to a higher project authority for remedial action 2.3. Implement agreed risk responses and modify plans to reflect changing project objectives in an environment of uncertainty |
3. Assess risk management outcomes |
3.1. Review project outcomes to determine effectiveness of risk management processes and procedures 3.2. Identify and document risk issues and recommended improvements, and pass on to higher project authority for 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 |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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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. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the following is essential:
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Context of and specific resources for assessment |
Assessment must ensure:
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Method of assessment |
A range of assessment methods should be used to assess practical skill and knowledge. The following examples are appropriate for this unit:
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Guidance information for assessment |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
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Range Statement
RANGE STATEMENT |
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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. |
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Risks may be: |
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Risk management techniques and tools may include: |
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Delegated authority refers to planning and activities that may: |
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Risk management processes and procedures may include: |
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Recommended responses to variations may be made: |
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Unit Sector(s)
Unit sector |
Competency field
Competency field |
Management and Leadership - Project Management |
Co-requisite units
Co-requisite units |
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