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COURSEWORK ASSIGNMENT 2: REPORT FOR RISK MANAGEMENT
Background and summery of the assignment
This brief describes an assignment to develop a risk 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. These could be associated with design, financial plan, the site, or interactions with the officials and other stakeholders. Once the contractors, sub-contractors and suppliers have been selected, they will be held responsible for managing their own risk profiles, so as to protect their interests and those of the client.
The project, simulation and coursework background
As no project should proceed without a risk management plan, this coursework is designed to frame this process. The overall objective is to ensure that a general understanding on the risk management process is understood and practiced. 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. Complete details of these requirements are included later in this document.
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.
The graphic in Figure 1 centres on the core client team for which this plan is required. The identification, characterisation and management of these risks are described in greater detail in the risk management standards BS ISO 31000:2009 and the BS 31100:2011, The New Rules of Measurement (NRM1) and the RICS Guidance Notes for Risk. These can be found in the reading folder for the Risk and Opportunity Learning Package on the module’s Moodle site. 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
For the following tasks, assume that the project is currently within RIBA Stage 1, where efforts are required in addressing the reduction of risk before final design and mobilisation. 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:
- An introduction to the report, explaining clearly what it is for and how it should be used.
- 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.
- Initiate a comprehensive preliminary exercise to identify and characterise the risks for the project.
- 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.
- 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.
- 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 plan for a public information project stakeholders and third-party dependencies (the outer ring in Figure 1) on progress and potential problems associated with the project.
- Include in an appendix of the report four (4) form letters, that contain blank spaces for information to be added where required. These are for regular correspondences required in risk management. a. A form letter to the client for regular reporting. This should include headings for regularly reported items.
- A form letter for stakeholders and third-party dependencies (the outer ring in Figure 1) to inform them of regular updates to risks relevant to their interests.
- A form letter to the police, environment agency, HSE to be sent in the event of an incident.
- A standard form letter that serves as an invitation to sub-contractors, suppliers and consultants for them to supply their own risk management documentation.
- The report will be assessed based on as listed in the grading grid shown in Error! Reference source not found. and further detailed in this section and the one following.
Further guidelines for the coursework
Many students will find this a challenging assignment, but it can be completed easily if you are prepared to approach the task with confidence and the determination to take control and to lead. 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. This being the case, students will be marked highly for their ability to overcome obstacles, present individual opinions, make authoritative conclusions and show personal flair. In order to convey the impression of authority and consistency, it is important that these items are followed closely.
- Ensure that you adhere to the word count. This includes text, tabular information, captions, headers and footers, title page and numbers.
- Provide a good title for your work and include the date.
- The text used should be terse, succinct, concise and to the point.
- Do not put your name on the report as they are marked anonymously.
- All pages except the cover page should be numbered, normally in the footer area.
- The introduction should state the purpose of the document, objectives, scope and other vital information required to orient the reader.
- A table of contents is not recommended for a document of this size, but a clear and informative introduction is essential.
- Convey a clear sense of purpose by introducing all sections, tables and figures that are well-captioned and are followed with descriptions and analysis.
- The reader should be able to detect a progressive logical argument that flows from section to section.
- 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.
- Spreadsheets are not acceptable in the submission, which must contain one document only.
- 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.
- All information included in the footer and header areas should be relevant and informative. Avoid useless repetition.
- Tables and figures must be submitted on a single page (landscape page setup can be used in this case) complete with an introduction, a caption and some analyses afterwards.
- Figures and tables must be numbered appropriately and in a sequential manner. Somewhere in the text, each figure and table must be clearly introduced and described.
- It is recommended that graphics for decorative reasons, and those not contributing to the objectives of the report, are avoided. Include only original sketches and figures or those that are adapted and annotated for the purpose of the report.
- 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.
- Numbers on the table should be displayed “right-justified” on the table so that the decimal places line up. Be sure to present large numbers with an appropriate accuracy.
- Observe the Harvard style of referencing throughout in order to make your work easier to read, authoritative, easy to read and understand, given that is it still an academic piece of work
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