BSBPMG536 Manage project risk

Project Portfolio

Contents

Section 1: Identify and analyse project risks

Section 2: Finalise project risk management plans
Section 3: Monitor, respond to and assess project risk management processes
Student name:

Assessor:

Date:

Provide a brief description of Native Bush Spices Australia is based in Coffs Harbour, NSW. The
your organisation and its business was established in 2010 to cater for a demand for Australian
main activities/services native food products
and/or products:

Summarise your The company has organic certification. The company manufactures
organisation’s broader work and retails a range of organic, Australian native foods including Native
goals: herbs and spices, Native herbal teas and Native fruit jams and
conserves.
The company also has a very basic website that includes four pages:
Home, About Us, Products and Contact Details.
The company’s overall business objectives for the next three years
are to increase sales and create brand awareness, develop a broader
product range, as well as expand into overseas markets, most likely
Hong Kong, Japan and Singapore

Provide a brief description of

your role and responsibilities
within your organisation:

Explain of how your role

contributes to the
organisation’s broader work
goals:

Project 1 context and team

members:

Project 2 context and team

members:
 Section 1: Identify and analyse project risks
Summarise project risk management processes
Describe applicable standards related
to risk
List the objectives related to managing
risk
Summarise policies and procedures
relating to risk, including:
● project risk classification criteria
and risk ranking system.
● risk review processes (formal and
informal)
● templates
Attach proof of the policies and
procedures to this section of your
There are several standards and frameworks that provide
guidance on risk management, such as:
ISO 31000: This international standard provides principles
and guidelines for risk management.
PMI's Project Management Body of Knowledge (PMBOK): It
includes a chapter dedicated to project risk management,
providing best practices and processes.
COSO ERM: The Committee of Sponsoring Organizations of
the Treadway Commission provides a framework for
enterprise risk management.
Objectives Related to Managing Risk:
1. Minimize the likelihood and impact of potential risks
on project objectives.
2. Enhance the ability to identify and assess risks
effectively.
3. Develop appropriate strategies and actions to
respond to identified risks.
4. Ensure timely and proactive monitoring and control
of risks throughout the project.
5. Foster a risk-aware culture within the project team
and stakeholders.
Project Risk Classification Criteria and Risk Ranking
System: This defines the criteria for categorizing risks based
on their severity, probability, and impact. It also establishes
a ranking system to prioritize risks for further analysis and
response planning.
Risk Review Processes (Formal and Informal): These
processes outline how risks will be reviewed and assessed,
including formal risk review meetings and informal
discussions or updates.
Templates: Standardized templates are provided for risk
identification, assessment, analysis, response planning, and
monitoring. These templates ensure consistency and
facilitate efficient documentation of risk-related information.
portfolio (highlight applicable
information).

Summarise conventions and protocols

for communicating with internal and
external stakeholders.
Attach proof of the requirements (e.g.
policy and procedure) and highlight
applicable information.

Describe risk identification methods Here are various methods that can be used to identify
that may be used to identify project project risks. Here are two commonly employed techniques:
risks (at least two).

Brainstorming: Brainstorming is a group-based technique

that encourages open and creative thinking to identify
potential risks. Project team members, stakeholders, and
subject matter experts come together in a facilitated session
to generate as many risk ideas as possible. The focus is on
capturing risks related to project objectives, deliverables,
stakeholders, technology, resources, and external factors.
The session can be structured or unstructured, allowing
participants to freely express their thoughts and ideas. The
identified risks can be documented for further analysis and
assessment.

SWOT Analysis: SWOT (Strengths, Weaknesses,

Opportunities, Threats) analysis is a strategic planning tool
that can be adapted for risk identification. It involves
evaluating the project's internal strengths and weaknesses
(related to resources, processes, and capabilities) and
external opportunities and threats (related to the project's
environment, stakeholders, and market). By focusing on the
"Threats" aspect of SWOT analysis, project risks can be
identified. This method helps in understanding the external
factors that may pose risks to the project's success, such as
changes in regulations, market conditions, or competitive
landscape. The identified risks can then be further analyzed
and prioritized based on their potential impact and likelihood.
You are required to manage project risk for two separate projects.

PROJECT 1: Include the name of the Project

Summarise your Project 1: Launch of New Native Spice Blend

stakeholder meeting.
Who did you meet with?
Summary of Stakeholder Meeting:
What was discussed?
What did you agree on?
Who did you meet with?
Unless already viewed in
person by your assessor,
attach proof of your meeting In attendance were representatives from Native Bush Spices Australia, including
to this section of the the project manager, marketing team members, product development team
portfolio. members, and the CEO.
External stakeholders, such as distributors, chefs, and selected customers, were
also present.
What was discussed?

The purpose of the meeting was to discuss the upcoming launch of a new native
spice blend by Native Bush Spices Australia.
The marketing team presented their research on market trends, target
customers, and potential marketing strategies.
The product development team shared details about the blend, including its
unique ingredients, flavor profiles, and packaging design.
The distributors provided insights on distribution channels and market demand.
The chefs and customers provided feedback on taste, versatility, and potential
usage scenarios.
What was agreed on?

The stakeholders agreed that the new native spice blend had great potential in
the market due to its unique flavor profiles and alignment with consumer trends
towards indigenous and sustainable products.
The marketing team and product development team agreed to collaborate
closely to create an effective marketing campaign that highlighted the blend's
authenticity and connection to Australian heritage.
It was decided that a test launch in select gourmet stores and restaurants would
be conducted before expanding to broader distribution channels.
The stakeholders agreed to closely monitor customer feedback and make
necessary adjustments to the blend or marketing strategy based on initial
reception.

Identify project risks. Project Risks for Native Bush Spices Australia:
Which additional
identification method did
you use?
List at least four identified
risks.
Attach proof of the risk
identification method used
to this section of your
portfolio (e.g. screen shot of
online group chat, survey,
internet search results etc.).
Risk: Fluctuating Availability of Native Spices
Due to factors like climate change, wildfires, or limited harvesting seasons, there
is a risk of inconsistent availability or scarcity of certain native spices used in
their products. This can affect production and lead to potential delays or
increased costs.
Risk: Quality Control and Consistency
Maintaining consistent quality across batches of native spices and spice blends
is crucial. There is a risk of variations in quality due to factors like supplier
reliability, processing techniques, or storage conditions, which can impact
customer satisfaction and brand reputation.
Risk: Market Competition and Price Pressure
As the market for native Australian spices grows, there is a risk of increased
competition from other suppliers or companies offering similar products. This
can lead to price pressure and the need to differentiate their products and
marketing strategies to maintain market share.
Risk: Changing Consumer Preferences and Trends
Consumer preferences and trends can evolve over time, and there is a risk of
Native Bush Spices Australia's products not aligning with changing consumer
demands. They need to stay informed about evolving tastes, dietary trends, and
health considerations to adapt their product offerings accordingly.
To identify these risks, Native Bush Spices Australia could use various methods,
including:
Internal Risk Assessment Workshops: Conducting workshops or meetings
with project team members, stakeholders, and subject matter experts to identify
and analyze potential risks associated with the projects.
Market Research and Analysis: Conducting market research to understand
the competitive landscape, customer preferences, and emerging trends in the
spice industry.
Supplier Assessments: Evaluating the reliability, quality control measures, and
sustainability practices of suppliers to assess the potential risks associated with
sourcing native spices.
Lessons Learned: Reviewing past projects, industry experiences, or case
studies to identify common risks and mitigation strategies that can be applied to
the current projects.
Create a draft Risk Risk Management Plan (Draft Template):
Management Plan and Risk
1. Introduction:
Register.
 Purpose and scope of the Risk Management Plan.
Attach your draft Risk
Management Plan and Risk  Project details and objectives.
Register to this section of
 Key stakeholders involved in risk management.
your portfolio.
2. Risk Management Approach:

 Overview of the risk management process to be followed.

 Roles and responsibilities of project team members in risk management.

 Communication and reporting procedures for risk-related issues.

3. Risk Identification:

 Methods and techniques to identify project risks.

 Stakeholder engagement and involvement in risk identification.

 Documentation and recording of identified risks.

4. Risk Analysis and Assessment:

 Criteria for assessing the impact and likelihood of identified risks.

 Risk matrix or scoring system to prioritize risks.

 Techniques used for qualitative and/or quantitative risk analysis.

5. Risk Response Planning:

 Strategies for responding to identified risks, including mitigation,

avoidance, transfer, or acceptance.

 Action plans, responsibilities, and timelines for implementing risk

responses.

 Contingency planning for high-impact risks.

6. Risk Monitoring and Control:

 Procedures for ongoing monitoring and tracking of identified risks.

 Risk review and reassessment timelines.

 Trigger points and escalation procedures for significant risks.

7. Documentation and Reporting:

 Procedures for maintaining a central Risk Register.

 Reporting formats and frequency for risk-related updates.

 Documentation of risk management activities and outcomes.

8. Review and Improvement:

 Process for reviewing the effectiveness of risk management activities.

 Feedback loops and lessons learned to improve future risk management

 practices.

 Continuous improvement strategies for the risk management process.

Risk Register (Draft Template):

Risk Risk Risk Risk
ID Description Category Likelihood Impact Level Risk Response

Mitigation:
Establish
Fluctuating backup
Availability suppliers and
of Native Supply maintain
R001 Spices Chain Moderate High High buffer stock.

Avoidance:
Implement
strict quality
control
measures and
Quality Product supplier
Control and Developm evaluation
R002 Consistency ent High Medium High processes.

Transfer:
Develop
unique value
propositions
and
Market differentiate
Competition Market through
and Price Environm branding and
R003 Pressure ent High High High marketing.

PROJECT 2: Include the name of the Project
Summarise your
stakeholder meeting.
Who did you meet with?
What was discussed?
What did you agree on?
Unless already viewed in
person by your assessor,
attach proof of your meeting
to this section of the
portfolio.
Monitoring:
Regularly
assess market
trends and
Changing consumer
Consumer Market preferences to
Preferences Environm adapt product
R004 and Trends ent Moderate Medium Medium offerings.
 Project 2: Supply Chain Optimization, based on the case study
of Native Bush Spices Australia.
Stakeholder Meeting Summary:
Project: Supply Chain Optimization
Date: [ 2/6/2022] Location: [ Austrilia]
Participants:
Project Manager: [Name]
Supply Chain Manager: [Name]
Operations Manager: [Name]
Finance Manager: [Name]
Procurement Manager: [Name]
Other relevant stakeholders
Discussion Points:
1. Project Overview:
The project manager provided an overview of the Supply Chain
Optimization project, emphasizing its objectives to improve
efficiency, reduce costs, and enhance overall supply chain
performance.
2. Current State Analysis:
The supply chain manager presented an analysis of the current
supply chain processes, highlighting key pain points,
bottlenecks, and areas for improvement. The stakeholders
discussed the challenges faced and potential opportunities for
optimization.
 3. Goals and Objectives:
The project manager and stakeholders discussed the goals
and objectives of the project, aligning them with the
organization's strategic priorities. This included setting
measurable targets, such as reducing lead times, improving
on-time delivery, and optimizing inventory levels.
4. Stakeholder Roles and Responsibilities:
Each stakeholder shared their roles and responsibilities within
the project, clarifying their involvement and contributions. The
team discussed the importance of cross-functional
collaboration and communication to achieve the project's
objectives.
5. Risk Identification and Assessment:
The stakeholders actively participated in identifying potential
risks and uncertainties associated with the supply chain
optimization project. They discussed various risk categories,
such as operational risks, supplier risks, and market risks. The
risks were assessed based on their likelihood and potential
impact.
6. Risk Response Planning:
The stakeholders collaborated in developing risk response
strategies for the identified risks. This involved brainstorming
and discussing mitigation measures, contingency plans, and
risk transfer options. The responsibilities for implementing and
monitoring the risk responses were assigned.
Agreements:
 The stakeholders agreed to actively participate in the
supply chain optimization project, providing necessary
resources, support, and expertise.
 The project manager was tasked with creating a
detailed project plan, including timelines, milestones,
and allocated resources.
 It was agreed that regular progress meetings would be
scheduled to track the project's status, address any
challenges, and ensure timely communication among
stakeholders.
 The stakeholders committed to sharing relevant data
and information to support the analysis and decision-
making processes.

Identify project risks. Risk Identification:

Which additional In addition to brainstorming sessions and workshops with relevant
identification method did stakeholders, the risk identification method used for the Supply Chain
you use?
List at least four identified
risks.
Attach proof of the risk
identification method used
to this section of your
portfolio (e.g. screen shot of
online group chat, survey,
internet search results etc.).
Optimization project involved a combination of the following
approaches:
Expert Interviews: Conducting interviews with supply chain experts
within the organization or industry to gather insights and identify
potential risks related to supply chain optimization initiatives.
Process Mapping and Analysis: Mapping out the current supply
chain processes and analyzing them to identify vulnerabilities,
bottlenecks, and potential areas of risk.
Historical Data Analysis: Reviewing historical data related to supply
chain performance, including metrics such as delivery delays,
stockouts, quality issues, and cost fluctuations, to identify recurring
patterns and potential risks.
External Research: Conducting research and analysis of industry
reports, market trends, and best practices in supply chain management
to identify potential risks specific to the industry or market.
Identified Risks:
Based on the risk identification methods used, here are four examples
of identified risks for the Supply Chain Optimization project:
Supplier Reliability:
Likelihood: High
Severity: Moderate
Risk Rating: High
Description: Dependence on key suppliers and their ability to
consistently meet quality, quantity, and delivery requirements. Potential
risks include supplier disruptions, quality issues, or capacity
constraints.
Technology Implementation:
Likelihood: Medium
Severity: High
Risk Rating: High
Description: Implementing new technology solutions for supply chain
 optimization may encounter challenges such as technical issues,
integration complexities, and resistance to change, which can impact
the project's success.
Demand Forecasting Accuracy:

Likelihood: Medium
Severity: Moderate
Risk Rating: Medium
Description: Inaccurate demand forecasting can lead to inefficient
inventory management, stockouts, or overstocking. Risks include
changes in consumer preferences, market fluctuations, and lack of
reliable data for forecasting.
Regulatory Compliance:

Likelihood: Low
Severity: High
Risk Rating: Medium
Description: Non-compliance with local or international regulations and
standards related to product quality, labeling, or transportation can lead
to legal and reputational risks. Risks include changing regulations,
complex compliance requirements, and insufficient monitoring
processes.

Attach: Risk policies and procedures ☐

Communication protocols and requirements ☐

Proof of stakeholder meeting (project 1) ☐


Section 2: Finalise project risk management plans
PROJECT 1: Include the name of the Project
Consult with at least two
stakeholders.
Who did you consult with
(include a client and at least
one internal stakeholder)?
How did you consult?
Summarise the outcomes of
your consultation.
Unless already viewed in
person by your assessor,
attach proof of your
consultation to this section of
your portfolio (e.g. draft email,
recording of face-to-face
meeting).
Proof of the risk identification methods used if relevant
☐
(project 1)
Risk Management Plan draft (project 1) ☐
Risk Register draft (project 1) ☐
Proof of stakeholder meeting (project 2) ☐
Proof of the risk identification methods used if relevant
☐
(project 2)
Risk Management Plan draft (project 2) ☐
Risk Register draft (project 2) ☐
Stakeholders Consulted:
1. Client: Native Bush Spices Australia (represented by Mr. John Smith,
Marketing Manager)
2. Internal Stakeholder: Product Development Team (represented by Ms.
Lisa Johnson, Senior Food Technologist)
Consultation Method:
I conducted both face-to-face meetings and email correspondences to consult
with the stakeholders. Initially, I scheduled a face-to-face meeting with Mr. John
Smith, the Marketing Manager of Native Bush Spices Australia. During the
meeting, I discussed the project objectives, the proposed native spice blend, and
its potential market opportunities. I also sought Mr. Smith's input on the target
audience, packaging design, and distribution channels.
After the initial meeting, I exchanged emails with Ms. Lisa Johnson, the Senior
Food Technologist from the Product Development Team. Through these email
correspondences, I shared details about the proposed native spice blend's
 ingredients, nutritional value, and potential production challenges. I sought Ms.
Johnson's expertise in ensuring the product's quality, safety, and compliance with
relevant regulations.
Outcomes of the Consultation:
1. Client's Perspective (Mr. John Smith):

 Mr. Smith expressed enthusiasm about the project and confirmed the
potential market demand for a new native spice blend.

 He emphasized the importance of highlighting the unique flavors and

cultural heritage associated with Australian native spices in the marketing
materials.

 Mr. Smith suggested considering partnerships with local indigenous

communities or highlighting sustainable sourcing practices to enhance
the brand's authenticity and appeal.

 He requested further market research to identify key competitors, pricing

strategies, and potential distribution partners.
2. Internal Stakeholder's Perspective (Ms. Lisa Johnson):

 Ms. Johnson provided valuable insights into the technical aspects of

developing the native spice blend, including considerations for ingredient
sourcing, formulation, and shelf-life stability.

 She emphasized the need for rigorous quality control measures,

including allergen testing, to ensure consumer safety and compliance
with regulatory requirements.

 Ms. Johnson suggested conducting sensory evaluations and consumer

trials to fine-tune the flavor profile and gather feedback for product
improvement.

 She recommended exploring potential collaborations with local chefs or

recipe developers to showcase the versatility and usage of the native
spice blend.

Update your draft Risk

Management Plan (Risk
Risk
Register).
Risk Descripti
Include outcomes of the ID on Likelihood Impact Risk Owner Mitigation Measures
consultative process and
allocate risk responsibilities.
Attach your updated Risk
Management Plan and Risk 1 Insufficien Medium High Marketing - Conduct thorough
Register to this section of
t market Manager (Mr. market research to
your portfolio.
demand John Smith) assess the demand for
for the native spice blends and
new identify target
 native
spice
blend consumer segments.

- Develop a
comprehensive
marketing strategy to
create awareness and
generate interest in the
product.

- Regularly monitor
market trends and
adapt the product
positioning accordingly.

Quality
issues - Establish strong
with relationships with
ingredient trusted suppliers to
s or Senior Food ensure the quality and
productio Technologist authenticity of native
2 n process Low High (Ms. Lisa spices.

- Implement rigorous
quality control
measures at each stage
of the production
Johnson) process.

- Conduct regular
ingredient testing and
inspections to identify
any potential quality
 issues.

- Document and follow

standardized
production protocols to
maintain consistency
and minimize errors.

- Engage a professional
graphic designer to
Inadequat create an appealing
e and informative
packaging Marketing packaging design that
design or Manager (Mr. aligns with the target
3 branding Medium Medium John Smith) audience.

- Conduct consumer
testing and gather
feedback on packaging
design and branding
elements.

- Continuously monitor
competitor packaging
strategies and make
necessary adjustments
to stay competitive.

4 Complian Low High Senior Food - Stay updated on

ce and Technologist relevant food
regulatory (Ms. Lisa regulations and ensure
issues the new native spice
blend meets all
necessary compliance
 requirements.

- Establish a thorough
documentation system
to track ingredient
sourcing, production
processes, and labeling
Johnson) information.

- Regularly conduct
internal audits to
ensure adherence to
food safety and
regulatory standards.

Delays in - Create a detailed

productio production timeline
n or Operations and allocate sufficient
distributio Manager (To be resources to meet the
5 n Medium Medium assigned) desired launch date.

- Maintain clear
communication and
coordination among
the production team,
suppliers, and
distribution partners.

- Implement
contingency plans and
alternative sourcing
options to mitigate any

Implement one risk treatment
for a risk with high priority.
Attach proof of your
implemented risk treatment to
this section of your portfolio.
potential delays.
Project: Launch of New Native Spice Blend
Risk Treatment Implementation - High Priority Risk
Risk ID: 2
Risk Description: Quality issues with ingredients or production process
Likelihood: Low
Impact: High
Risk Owner: Senior Food Technologist (Ms. Lisa Johnson)
Risk Treatment: Establish strong relationships with trusted suppliers to ensure
the quality and authenticity of native spices.
Proof of Implemented Risk Treatment:
Email Correspondence
From: Senior Food Technologist (Lisa Johnson)
To: Native Spice Supplier (Supplier A)
Date: [Insert Date]
Dear Supplier A,
I hope this email finds you well. I am reaching out to discuss our upcoming
project for the launch of our new native spice blend. As you are aware, the quality
of our ingredients plays a crucial role in the success of this venture.
We have identified your company as one of our trusted suppliers for native
spices, given your reputation for providing high-quality products. We appreciate
your commitment to sustainable sourcing practices and your expertise in handling
native spices.
In order to mitigate the risk of quality issues during the production process, we
would like to reinforce our partnership and ensure a seamless supply chain. We
kindly request your continued cooperation in maintaining the following:

Quality Assurance: Please ensure that all native spices provided to us meet the
highest quality standards. We rely on your expertise to source authentic and
fresh ingredients, free from any contaminants or adulteration.

Documentation: We kindly request updated documentation regarding the origin,

processing methods, and quality assurance procedures for each batch of spices
delivered. This will help us ensure transparency and traceability throughout the
production process.

Communication: Prompt and effective communication is crucial to addressing

any potential issues or concerns. We encourage you to notify us immediately if
there are any changes or challenges that may affect the quality or availability of
the native spices.

We value our partnership with Supplier A and believe that together we can deliver
a premium product to our customers. If you have any questions or require further
clarification, please do not hesitate to contact me.

Thank you for your attention to this matter.

Best regards,

Lisa Johnson
Senior Food Technologist
Native Bush Spices Australia

[End of Email Correspondence]

PROJECT 2: Include the name of the Project

Consult with at least two Project: Supply Chain Optimization

stakeholders.
Stakeholders Consulted:
Who did you consult with
1. Client: Native Bush Spices Australia (represented by Mr. John Smith,
(include a client and at least
Operations Manager)
one internal stakeholder)?
2. Internal Stakeholder: Supply Chain Manager (represented by Ms.
How did you consult?
Emma Davis)
Summarise the outcomes of
Consultation Method:
your consultation.
I conducted both face-to-face meetings and email correspondences to consult
Unless already viewed in
with the stakeholders. Initially, I scheduled a face-to-face meeting with Mr.
person by your assessor,
John Smith, the Operations Manager of Native Bush Spices Australia. During
attach proof of your
the meeting, I discussed the project objectives, the current supply chain
consultation to this section of
challenges, and the desired outcomes of the supply chain optimization project.
your portfolio (e.g. draft email,
I also sought Mr. Smith's input on key areas of improvement, cost reduction
recording of face-to-face
opportunities, and the importance of maintaining product quality and timely
meeting).
deliveries.
After the initial meeting, I exchanged emails with Ms. Emma Davis, the Supply
Chain Manager. Through these email correspondences, I shared details about
the proposed supply chain optimization strategies, including process
improvements, inventory management techniques, and potential technology
solutions. I sought Ms. Davis's expertise in understanding the existing supply
chain processes, identifying bottlenecks, and suggesting practical solutions.
Outcomes of the Consultation:
1. Client's Perspective (Mr. John Smith):
 Mr. Smith expressed the need for streamlining the supply chain
processes to reduce costs, improve efficiency, and enhance
customer satisfaction.
 He highlighted the importance of maintaining consistent quality
standards throughout the supply chain and ensuring timely
deliveries to meet customer demands.
 Mr. Smith provided insights into the challenges faced in inventory
management and emphasized the need for optimizing stock levels
and reducing wastage.
 He requested a detailed analysis of the current supply chain
performance, including key performance indicators (KPIs), to
measure the effectiveness of the implemented optimizations.
 2. Internal Stakeholder's Perspective (Ms. Emma Davis):
 Ms. Davis provided a comprehensive overview of the existing supply
chain processes, highlighting areas where improvements could be
made.
 She shared valuable data on lead times, order processing times, and
transportation costs, which would be crucial for identifying optimization
opportunities.
 Ms. Davis stressed the significance of leveraging technology
solutions, such as supply chain management software, to improve
visibility, coordination, and data analysis.
 She suggested implementing a vendor management program to foster
stronger relationships with suppliers, negotiate better terms, and
reduce risks in the supply chain.

Update your draft Risk

Management Plan (Risk
Register).
Include outcomes of the Risk Risk Mitigation
consultative process and Risk ID Description Likelihood Impact Owner Measures
allocate risk responsibilities.
Attach your updated Risk
Management Plan and Risk
Register to this section of
your portfolio.

- Maintain open
communication
Supplier Supply channels with
reliability Chain suppliers to
issues or Manager promptly
delays in (Ms. address any
ingredient Emma potential issues
1 deliveries Medium High Davis) or delays.

- Implement a
backup supplier
strategy to
mitigate the
impact of
unreliable
suppliers.

- Implement
demand
forecasting
Inadequate techniques to
inventory Supply optimize
management Chain inventory levels
leading to Manager and reduce the
stockouts or (Ms. risk of stockouts
excess Emma or excess
2 inventory Medium High Davis) inventory.

- Establish
effective
inventory
monitoring and
replenishment
processes to
ensure timely
stock
management.
 - Evaluate and
Inefficient optimize
transportatio Supply transportation
n and Chain routes to
logistics Manager minimize transit
resulting in (Ms. times and
delayed Emma enhance delivery
3 deliveries Medium High Davis) efficiency.

- Implement
real-time
tracking systems
to monitor the
movement of
goods and
identify potential
bottlenecks or
delays.

- Conduct
thorough testing
Technology and pilot
implementati programs before
on full-scale
challenges IT implementation
and system Manager of new
integration (To be technology
4 issues Low Medium assigned) solutions.

- Provide
comprehensive
training and
support to
employees to
ensure a smooth
transition and
adoption of new
 systems.

- Establish and
communicate
clear quality
standards to
Failure to suppliers and
meet quality Quality ensure regular
standards in Assurance quality
the supply Manager inspections and
5 chain Low High (To be audits.

- Implement a
robust quality
control system
throughout the
supply chain to
detect and
address any
quality issues
assigned) promptly.

Implement one risk treatment Project: Supply Chain Optimization

for a risk with high priority.
Attach proof of your
Risk Treatment Implementation - High Priority Risk
implemented risk treatment to
this section of your portfolio.
Risk ID: 1
Risk Description: Supplier reliability issues or delays in ingredient deliveries
Likelihood: Medium
Impact: High
Risk Owner: Supply Chain Manager (Ms. Emma Davis)

Risk Treatment: Maintain open communication channels with suppliers to

promptly address any potential issues or delays.
Proof of Implemented Risk Treatment:

Email Correspondence

From: Supply Chain Manager (Emma Davis)

To: Native Spice Supplier (Supplier A)
Date: [Insert Date]

Dear Supplier A,

I hope this email finds you well. I wanted to reach out to discuss our ongoing
collaboration and emphasize the importance of maintaining reliable and timely
deliveries of ingredients for our supply chain optimization project.

As you know, the success of our project relies heavily on the availability and
quality of the ingredients provided by our suppliers. To mitigate the risk of any
potential issues or delays, I kindly request your continued cooperation in the
following:

Communication: Please keep us informed of any changes in your production

schedules, lead times, or potential disruptions in the supply of ingredients.
Timely and transparent communication will enable us to proactively address
any challenges that may arise.

Proactive Measures: We encourage you to implement proactive measures

within your own supply chain to ensure consistent and reliable ingredient
deliveries. This may include capacity planning, inventory management, and
contingency plans to mitigate any potential disruptions.

Collaboration: We value our partnership with Supplier A and believe that open
collaboration and a shared commitment to our project's success are crucial.
We are open to discussing ways to strengthen our collaboration, such as joint
planning meetings or sharing forecast information, to enhance supply chain
visibility and coordination.

We appreciate your attention to this matter and look forward to your continued
support in maintaining a reliable supply chain. Should you have any questions
or require further clarification, please do not hesitate to contact me.
 Thank you for your cooperation.

Best regards,

Emma Davis
Supply Chain Manager
Native Bush Spices Australia

Attach: Internal and external stakeholder consultation (project 1) ☐

Updated Risk Management Plan (project 1) ☐

Updated Risk Register (project 1) ☐

Proof of implement risk treatment ((project 1) ☐

Internal and external stakeholder consultation (project 2) ☐

Updated Risk Management Plan (project 2) ☐

Updated Risk Register (project 2) ☐

Proof of implement risk treatment ((project 2) ☐

 Section 3: Monitor, respond to and assess project
risk management processes

PROJECT 1: Include the name of the Project

Monitor the project risks.

What formal process will you
use to monitor the project
risks?
What informal process will
you use to monitor the project
risks?
Summarise the outcomes of
your monitoring processes
(include at least one change
in the risk environment).
Unless already viewed in
person by your assessor,
attach proof of your formal
and informal monitoring to
this section of your portfolio
(e.g. photo of you reviewing
the project schedule, survey
etc.).

Respond to the changed

environment.
Are the current risk controls
and treatments effective and
efficient?
How will you respond to the
changed environment?
How will you implement one
response?
Attach proof of how you
implemented one risk
response (e.g. email
appropriate staff member to
take action, update the
project schedule etc).
Attach your modified Risk
Management Plan (Risk
Register) to this section of
your portfolio.
Review outcomes of the
project and its risk
management processes.
What were the project
outcomes?
What risk management
issues were faced?
How effective were the risk
management processes and
procedures?
What recommendations can
you make for future risk
management processes?

Develop one recommended

improvement for future use.
Attach the developed
improvement to this section of
the portfolio.

PROJECT 2: Include the name of the Project

Monitor the project risks

What formal process will you
use to monitor the project
risks?
What informal process will
you use to monitor the project
risks?
Summarise the outcomes of
your monitoring processes
(include at least one change
in the risk environment).
Unless already viewed in
person by your assessor,
attach proof of your formal
and informal monitoring to
this section of your portfolio
(e.g. photo of you reviewing
the project schedule, survey
etc.).

Respond to the changed

environment
Are the current risk controls
and treatments effective and
efficient?
How will you respond to the
changed environment?
How will you implement one
response?
Attach proof of how you
implemented one risk
response (e.g. email
appropriate staff member to
take action, update the
project schedule etc).
Attach your modified Risk
Management Plan (Risk
Register) to this section of
your portfolio.

Review outcomes of the

project and its risk
management processes.
What were the project
outcomes?
What risk management
issues were faced?
How effective were the risk
management processes and
procedures?
What recommendations can
you make for future risk
management processes?
Develop one recommended
improvement for future use.

Attach the developed

improvement to this section of
the portfolio.

Attach: Proof of formal monitoring process (project 1) ☐

Proof of informal monitoring process (project 1) ☐

Proof of implemented risk response (project 1) ☐

Modified Risk Management Plan (project 1) ☐

Modified Risk Register (project 1) ☐

Risk Response Plan template ☐

Proof of formal monitoring process (project 2) ☐

Proof of informal monitoring process (project 2) ☐

Proof of implemented risk response (project 2) ☐

Modified Risk Management Plan (project 2) ☐

Modified Risk Register (project 2) ☐

Risk Management Communication Plan template (project

☐
2)