Professional Documents
Culture Documents
Task 1 Usman
Task 1 Usman
● Assessment Task 1: Knowledge questions – You must answer all questions correctly.
● Assessment Task 2: Project – You must work through a range of activities and complete a
project portfolio.
● review the advice to students regarding answering knowledge questions in the Business
Works Student User Guide
● comply with the due date for assessment which your assessor will provide
Questions
Provide answers to all of the questions below:
1. Identify at least two project risks for each of the following risk categories:
● Scope risk
● Scheduling risk
● Resource risk
● Technology risk
Certainly! Here's a table with five project risks for each of the specified risk categories:
Risk
Category Project Risk 1 Project Risk 2 Project Risk 3 Project Risk 4 Project Risk 5
Incompatibility Insufficient
Technology Integration Emerging with Legacy Vendor Testing and
Risk Challenges Technology Risks Systems Dependency Quality Assurance
2. Outline three examples of tools or techniques that could be used to identify risks as
part of a risk assessment process.
Tool/Technique Description
3. Outline three sources of information that can be used to gather information on potential
risks within the workplace.
Incident Reports: Incident reports document details of past incidents, accidents, near-misses,
or injuries that have occurred in the workplace. Analyzing these reports can help identify
patterns, root causes, and potential risks associated with certain tasks, equipment, or work
areas. Incident reports provide valuable firsthand information on specific risks and help in
implementing preventive measures.
Safety Data Sheets (SDS): Safety Data Sheets contain detailed information about hazardous
substances used or stored in the workplace. They provide information on the properties,
handling, storage, and safety precautions related to chemicals, materials, or products.
Reviewing SDSs can help identify potential risks associated with specific substances and guide
the implementation of proper handling procedures and protective measures.
Workplace Inspections and Audits: Regular workplace inspections and audits involve assessing
the work environment, equipment, processes, and procedures to identify potential hazards
and risks. Inspections can be conducted by internal safety teams, external consultants, or
regulatory bodies. These inspections provide an opportunity to identify unsafe conditions,
non-compliance with safety regulations, and potential risks that need to be addressed.
Purpose of AS/NZS ISO 31000:2009: The purpose of AS/NZS ISO 31000:2009 is to provide
organizations in Australia and New Zealand with a systematic framework for managing risk
effectively. It aims to assist organizations in achieving their objectives, making informed
decisions, and improving their overall resilience in the face of uncertainty.
1. Risk Management Creates Value: Risk management should be seen as an integral part
of organizational processes and contribute to the creation of value by supporting informed
decision-making and enhancing performance.
4. Risk Management Considers Human and Cultural Factors: Risk management should
consider the human and cultural aspects of the organization. It recognizes that people's
perceptions, behaviors, and the overall organizational context play a significant role in
managing risks effectively.
Risk Identification:
Identify and document potential risks that could impact the project or organization.
Use techniques such as brainstorming, checklists, interviews, and historical data
analysis.
Develop a comprehensive list of risks with clear descriptions.
Risk Assessment:
Analyze and evaluate identified risks to determine their potential impact and
likelihood of occurrence.
Use techniques such as qualitative or quantitative analysis, risk scoring, and
probability-impact matrices.
Prioritize risks based on their significance and potential impact on objectives.
Develop strategies and action plans to manage and reduce identified risks.
Assign responsibility to appropriate individuals or teams for each risk.
Determine appropriate risk mitigation measures and establish risk reduction targets.
Implement the identified risk mitigation actions and measures according to the
established plans.
Monitor the progress of risk mitigation activities and ensure they are being executed
effectively.
Adjust plans or strategies if necessary based on emerging information or changing
circumstances.
Risk Monitoring and Review:
Continuously monitor and review the status of identified risks throughout the project or
organizational life cycle.
Use risk indicators and metrics to track the progress of risk mitigation efforts.
Regularly review the effectiveness of risk management strategies and make
adjustments as needed.
Communicate risk information to stakeholders and ensure transparency in the risk
management process.
Risk Control
Options Explanation
Risk avoidance involves taking actions to eliminate or avoid the risk entirely. This can
Risk be done by choosing not to engage in activities or projects that pose significant risks.
Avoidance It aims to prevent the occurrence of the risk and its potential negative consequences.
Risk transfer involves transferring the risk to a third party, such as through insurance
or contractual agreements. This shifts the financial or operational burden of the risk
to another entity, reducing the organization's exposure to potential losses or
Risk Transfer liabilities.
9. Complete the table below to provide examples of risk classification and risk context for
a variety of industries. The first row has been completed as an example.
- Decreased government
funding<br>- Shift to online
learning due to technological
advancements
Assessment Task 1: Checklist
Student’s name:
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Assessor signature:
Assessor name:
Date: