Procurement Risk and Contract Management - Use of Complex Models of Project Risk - Management Assignment Help

Assignement Task :

Assessment task details and instructions

You are required to produce a risk assessment for the Yang Sing Hotel Project. In your risk assessment you are required to 

1. Identify the risks facing the project (both threats and opportunities) – explaining how you determined the risks and what methods you could use: no more than 10 significant risks should be identified and you should include a justification of the selection of these risks.(300 words max) 20/100

2. You must then analyse each risk giving an indication of the probability/likelihood and impact/consequence of each risk on the project objectives. Your estimation of probability must give the evidence for your risk score from a reliable/reasonable data source and your estimate of impact must be based on a reasoned calculation of cost/profit (300 words max). 20/100

3. You must map each risk onto a risk matrix which indicates the risk appetite of the project owners. You should justify the risk appetite you have identified (200 words max plus diagram). 20/100

4. For each risk you should produce a risk action plan in the following format (150 words max per risk) 30/100

1. You should reference your sources in Harvard format  

• Allocation of credit and sources used; (have I included references and citations to the material I have used?);

• Clarity of argument and relevance to the project management context

• Overall report presentation including spelling and grammar;

• Adherence to nominated word limit.

This coursework should follow a structured approach and should be prepared and presented as a professional business report. You should undertake a relevant literature review that helps inform your investigation. Please also ensure that the Harvard Referencing System is adhered to and fully complied with. 

Assessed intended learning outcomes

On successful completion of this assessment, you will be able to:

Knowledge and Understanding

On successful completion of the module the student will be able to:

1. Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Project Risk and Procurement Management.

2. Apply knowledge of the theory and practice of Project Risk and Procurement Management to develop insights into and solve current problems.

3. Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas. 

4. Critically and effectively assess the value of theories, concepts and models to the practice of Project Risk and Procurement Management.   

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