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.

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

a.      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

b.      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

c.       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

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

e.      You should reference your sources in Harvard format (10 marks)

•          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.

NB:

·         Please add your student identity number to the header of each page of your report.

·         Please ensure you put your word count on your title page.

·         University lateness and plagiarism rules apply.

Please follow a report format.  Therefore, you should have a title page, contents page, sections and sub sections, page numbers, appendix section etc.  Please note if you are uncertain on how to present and structure a report then visit the university library and ask for assistance.

Please do use diagrams, illustrations, tables, graphics etc. wherever these are helpful, and remember that these do not count towards your word limit. If you do use these, please do not put them in the appendices if they are part of your discussion.  Appendices are the appropriate places to put supporting material, however, remember if the reader is satisfied with the main points of your discussion; the supporting information within the appendices may not even be reviewed.

Please try to use theory explicitly at all stages, but do not spend too much time describing a theory. While you must be explicit about the theories, models, techniques etc. that you use, you can assume that the reader is familiar with them. What the reader requires is evidence of your ability to understand and apply the theory and learn from in order to support the development of your findings and/or ideas.

You must cite all sources on which you have relied, for example textbooks, journal articles, web pages etc. using the Harvard Bibliographic referencing system. If you do not cite all sources, then you may be accused of plagiarism, and that may endanger your success in passing the module. If you are in any doubt about how to reference your work, please review the Induction section on academic malpractice and ask your tutor for guidance.

You will also need to take the following into account when completing your

assignment:

• Establishment of relevant theory and allocation of credit and sources used.

• Clarity of argument.

• Overall report presentation including spelling and grammar.

• Adherence to nominated word limit (+/- 10%)

• Word processed – TNR 12, 1.5 spaced, Harvard Referencing System.

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.

Practical, Professional or Subject Specific Skills

1. Leads by example – as high levels of self-awareness, emotional and social intelligence, empathy and compassion, and able to identify mental well-being in others. Work collaboratively enabling empowerment and delegation – acts with humility and authenticity, is credible, confident and resilient.
2. Judgement and Challenge – Takes personal accountability aligned to clear values. Demonstrates flexibility and willingness to challenge when making decisions and solving problems – instils confidence demonstrating honesty, integrity, openness, and trust.
3. Courage & Curiosity – is confident and brave, willing to innovate, seeks new ideas and looks for contingencies. Manages complexity and ambiguity, comfortable in uncertainty, and is pragmatic.
4. Valuing Difference – engaging with all, is ethical and demonstrates inclusivity, recognising diversity, championing, and enabling cultural inclusion. Empowers and motivates to inspire and support others.
5. Professional Reflects on own performance, demonstrates professional standards in relation behaviour and ongoing development. Advocates the use of good practice within and outside the organisation.

Transferable Skills and other Attributes

1.       Develop their critical skills, especially in relation to published literature in the field.

2.       Work independently and with others in analysing and presenting solutions to Project Risk and Procurement Management problems.

3.       Locate and synthesise information from a range of published literature and electronic sources and present this effectively in both oral and written forms.

4.       Take responsibility for personal learning and continuous professional development.

5.       Make decisions in complex and unpredictable situations.

·         Allow students to develop an in-depth understanding of Project Risk and Procurement Management.

·         Provide students with an overview of project risk in order to maximize the probability and consequences of positive events and to minimize the probability and consequences of adverse events to project objectives.

·         Provide students with the skills to effectively manage procurement processes in a multitude of environments.

The maximum word count is 3000 words (+/- 10%).  Your word count is from the introduction to conclusion sections.  Therefore, it does not include title page, contents page, reference section, appendices etc. If the assignment exceeds these limits; the work in excess of 3000 is not marked.

You can expect to receive feedback

·         Two working weeks (excluding University Seasonal Closing) after the submission date.

·        Please email  should you require specific feedback following the release of your results.

You can obtain support for this assessment by attending your module lectures and class discussions.

askUS

The University offers a range of support services for students through askUS.

Good Academic Conduct and Academic Misconduct

Students are expected to learn and demonstrate skills associated with good academic conduct (academic integrity). Good academic conduct includes the use of clear and correct referencing of source materials. Here is a link to where you can find out more about the skills which students require http://www.salford.ac.uk/skills-for-learning.

Academic Misconduct is an action which may give you an unfair advantage in your academic work. This includes plagiarism, asking someone else to write your assessment for you or taking notes into an exam. The University takes all forms of academic misconduct seriously.  You can find out how to avoid academic misconduct here https://www.salford.ac.uk/skills-for-learning.

Assessment Information

If you have any questions about assessment rules, you can find out more here.

Personal Mitigating Circumstances

If personal mitigating circumstances may have affected your ability to complete this assessment, you can find more information about personal mitigating circumstances procedure here.

Student Progression Administrator

If you have any concerns about your studies, contact your StudentCare at studentcare@rkc.edu