REPORT FOR RISK MANAGEMENT

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Background and summery of the assignment

This brief describes an assignment to develop a riskt  management plan for a simulated project. This coursework, designed to be complementary with Coursework 1, is also based on The College development. Please refer to the Coursework 1 Brief for descriptive information.

In this assignment, students are acting in the role of a consulting professional advising the client’s team on risk management during RIBA Stage 1 (Forming the Brief). The plan is required so that the client can manage the numerous risk elements associated with the project. One of the key objectives is to ensure design has risk mitigated as much as possible before inquiries go out to the tenderers.

Risk characterisation and management are activities that should start early in the project to help manage the wide variety of uncertainties that could delay, add cost, reduce quality or cause harm.

The project, simulation and coursework background

. The deliverable required by this coursework are twofold. Firstly, to set up a client-side risk management programme that works to reduce risk during the pre-construction design stages and continues as the project progresses and secondly to provide a risk management framework to the contractor so that they can ensure subcontractors, suppliers and others on the appropriate standards for Cost Value Reconciliations (CVR) and other reporting requirements

In order to envision the scope of this undertaking, Figure 1 is included. It contains a graphical representation of the general risks threatening The College project. These general risks will need further elaboration and descriptions specific to The College project.

Figure 1 contains a graphical representation of the risk responsibilities of the core client team and the main contractor, who working together, manage the risk of suppliers, sub-contractors and stakeholders.

Further details on The College project, including site drawings and other material, are available through a link to the Master’s Field Project on Moodle.

Description of the task required for the coursework

. Base on other details, such as the development strategy and programme as reported in Coursework 1. The report should contain an early-stage Risk Management Plan (RMP) that contains the following:

  1. An introduction to the report, explaining clearly what it is for and how it should be used.
  2. The formulation of a set of top-level risk management principles based on best-practice as described in the standards and guides and tailored for application to The College project. Prepare these for dissemination to contractors, suppliers and other stakeholders.
  3. Initiate a comprehensive preliminary exercise to identify and characterise the risks for the project.
  4. Design and describe a method to rank the risks by order of importance based. This should be consistent with a standard approach in order so that contractors, suppliers and other stakeholders can synchronise their assessment and reporting with the client.
  5. Assign the ownership of each risk and provide a framework for management in a risk register. Describe how they are mitigated, controlled, reviewed and reported. Provide further details of the client-owned risks.
  6. since Provide a section that demonstrates how responsibility for risk management evolves as the project progresses. This can be achieved by means of a flow-chart showing the responsibilities of each risk owner evolves through the project.
  • A standard form letter that serves as an invitation to sub-contractors, suppliers and consultants for them to supply their own risk management documentation.
  •  Reference source not found. and further detailed in this section and the one following.

Further guidelines for the coursework

Like Coursework 1, this assignment is not a test of a student’s ability to match pre-conceived expectations. Quite the contrary, reports should show students’ initiative and exhibit their ability to resolve minor inconsistencies and issues with confidence.

  1. Ensure that you adhere to the word count. This includes text, tabular information, captions, headers and footers, title page and numbers.
  2. Provide a good title for your work and include the date.
  3. The text used should be terse, succinct, concise and to the point.
  4. Do not put your name on the report as they are marked anonymously.
  5. The introduction should state the purpose of the document, objectives, scope and other vital information required to orient the reader.

REPORT FOR RISK MANAGEMENT

 

  1. The reader should be able to detect a progressive logical argument that flows from section to section.
  2. Each section should start with an informative and useful heading followed by an introduction that describes the contents of the section, why it is important and how it contributes to the overall aims of the report. The final sentences of each section should lead the reader on to the following section.
  3. Spreadsheets are not acceptable in the submission, which must contain one document only.
  4. hence Try to avoid using the personal pronouns “I” and “me”, “we”, etc. in your work. It personalises the document and makes it harder to be objective about its contents.
  5. therefore All information included in the footer and header areas should be relevant and informative. Avoid useless repetition.
  6. hence Use a page setup in portrait format in A4 paper size. Unless landscape is required. All text, tables and drawings must be displayed the right way up.
  7. therefore Be sure to present large numbers with an appropriate accuracy.
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