QUESTION 1 (20 Marks) Identify and analyse the key success factors of the project in the case study and critically discuss them in detail.

QUESTION 2 (20 Marks) Project teams often have to work around unplanned responses to risk events when they do not have contingency plans in place. Choose a tool from the tools and techniques that you have studied to effect risk monitoring and control. Appraise how ASC could have effectively used this tool to monitor and control their project risks.

Read the case study below and answer ALL the questions that follow. ASC Case Study Using Risk to Transform Industry Leadership ASC. Australs' spandign someing and ship building company, has transformed how is manages is business by developing a proactive risk and opportunly strategy. As Australia's largest locally owned prime contractor to defence, employing more than 2000 people, responsible for the platform system sustainment of the Collins Class submarine Direct and platform construction of the Air Warfare Destroyer program, among other activities, It is important that ASC tavern asystemic and comprehensive approach to managing rik. AS0's approach to risk management is essential to bulding postience for the organisation in the long term while Implementing innovation and improvement programs in the context of a dynamic and molilevel relationship with Defence and the Royal Austalia Navy [RANI At the same time, The organsofin is using its comprehensive risk management strategy to inform decision making on t's major for contracts, such as the Hunter Clams Future Frigates and Offshore Patrol Vessel, which will be buit in the ASC shipbuilding shipyard in the coming years. At an operational level, ASC went to Risk Deckians with a bilef to improve user engagement within the company. The ASC risk team, headed by Kirsty Call ASC risk and insurance manager, was spending a lot of time working with people at a project level, on dry to day mik dira handing As a meout, ASC achieved a fundamental shit in how the organisation approached risk of every lewil . from encouraging the board and senior management to use risk in a positive way to re-shaping behaviours. At a fundamental level, It was about risk being a clear expectation of every ASC employes. Here are the stops ASClock to achieve this outcome: Develop robust risk frameworks Maintaining a robust risk framework was bey for Coll An organization of the size and scale of ASC, with more than 21000 employees across three sites in South Australia and Westem Australia requires that all behaviours and strategies touching risk management be included in the change process. This approach has supported transformations such as reorganizing the ASC business to prepare for Is ongoing Collre Class Submarine Sustainment and Support contract as well as new programmes now arriving such an the Offshore Patrol Vessel construction and SEA 5000 [Hunter Class Anti-Submarine Frigates). Adopting a comprehensive framework including an appropriate mik manage mant system has enabled the business to build capacity for both ongoing and future contracts. Delivering complex warship and submarine platforms is among the most complex industrial activities ever underlaben in Australia. ASC maintains multiple interdependencies across is programmes . timeines, political stakeholders, intellectual property and related responsible, In well as maintaining on eatersive supply chain . Thin Australu and qwestat ASC engaged with Rink Decisions to develop and help implement the risk management system to integrate with ASCy existing business framework to ensure that max is understood and managed within the complex erredfonment Educate your teams In order to create a culture of engagement withrisk management, educating staff is bey. Col and her team encouraged stan to take a questioning approach to risk so as is understand the impact it his on the ofparisation al every level, The and rebut i to enable employees to daclose and manage risk in a transparent manner so as to support better decision making At the core of the engagement has been Risk Decisions' Predict platform. The tool is simple to use and chives engagement, collaboration and sotake. The case of use has meant that Col's team is less focused on helping poopis use the tool, but insload concentrates on helping them look for opportunties and to act within the risk framework we have Providing education upwards has been vial too As Coll explains, " We put a great deal of thought into how we coach our executive and management teams to load their respective rak practices within the company and all of our programs, especialy around effective communication. This ensures that risk is integrated across our business, from project to board and board to project - we need to allow it to flow, wa tramipatent dicloture of risk." Encourage senior engagement Securing commitled board and executive interaction is central to ASC's success in driving a proactive and positive risk culture and so fostering sound business planning and strategy Including niak effectiveness when communicating with the bound and executives demonstrates the value if deliver of every level of the organisation, Risk needs to be more than an agenda item, rather a conversation and awareness across apendes.Now Implemented, I in clear that binging that dogate of executive awareness, governance, ewright and management to all mak touchpoints is leading to corninyous improvement - s core value of ASC For example, improve ment has led to developing a method of assessing each team's risk engagement and maturity based on their risk and opportunity data Having this live information-smabled senior managers to act proactively and encourage that Mams' engagement with the risk management aims of the business. Align risk with board priorities Aligning the risk strategy to board priorities and then engaging in proactive risk management is help to achieve these priorities has raised the visibility of risk al all levels This goes beyond using risk as a response to legal and regulatory compliance but represents a new benchmark. Vit is it dosso safeguard ASC against risks, it creates better-informed decision making. Issues such as dais securty, cybochme and crisis response alongside sustaingolity, reputation and succession are what to kooping directors a mike at night Call explains, * By applying a proactive risk mindset to the - unpicking throats as well as do manstrating the opportunities these can bring - we can drive organisational standards, behaviours and performance. Thes embedding of risk into core strategy has enabled ASC to make real leaps as a business and change our risk management Create a " risk tomm" Col has created a the team, working with the CEO, board and executive, with dedicated meetings, ensuring that risk has a profile and influence of the sonlor levels. At the same time, the team approach encourages the soccutive board to improve their understanding and management around the issues within their programs and areas of accountablely. For ASC. risk management is no longer soon as a standalone activity, instead of has become a common thread across the organization, encompassing all types of risk, including business continully, dhunter recovery, cybersecurity and fraud identification and prevention to name a few. Every ASC employee understands their risk responsibility. By developing a compochersive and user-friendly way to think abouttek, ASC i is a much stronger, more resilient postion to safeguard its reputation build confidence among outside stakeholders and most importantly to safely deliver its naval warship and submarine projects for the nation. Source hilpa Wwww.nekdecisions comrisk-management-case-stud ewasc-risk-mamage ment-came study Answer ALL the questions in this section. QUESTION 1 (20 Market identry and analyse the key success factors of the project in the case study and critically decuss them in detail QUESTION 2 (0 Marks) Project teams often have to work around urplanned reiponies forink events when they do not have contingency plans in place. Choose a feel from the took and techniques that you have studied to offect risk monitoring and control. Appraise how ASC could have effectively used It's tool to monbor and control their project risks. SECTION B KO MARKS] Answer ANY THREE () questions in this section. QUESTION 3 (20 Marks) When planning for project risk management there are several pingral topics that any risk management plan should add mix Identify these topics and apply them to a project that you are familiar with QUESTION 4 (0 Marks) Many projects, apart from a risk management plan, also ielude contingency plans, fallback plans, and contingency repairmen Use a project and apply the theory appropriately to of orstrate how you will manson your project risks prudently QUESTION 5 (20 Marks) When undertaking project risk identification there are a number of risk identification techniques that can be adopted Use the Problem Solving Approach to identify the project risks of a chosen project