This is a paper that focuses on the Sydney Metro risk management plan case to constructions projects. The paper also provides further instructions to follow in writing the assignment paper.

Sydney Metro risk management plan case to constructions projects

Objectives:
Firstly, demonstrate the significance of Risk Management Plan (RMP) to construction projects
Secondly, develop and implement a proactive risk management process in construction projects aligning with risk management standards of AS/NZS ISO 31000, ISO 31010, and Risk Engineering Society (RES) Contingency Guideline 2019
Follow risk assessment process including selection and application of appropriate risk analysis
Address the different key aspects of risk management within the project team including risk culture, risk appetite, risk perception, risk communication, risk threshold and risk exposure
Apply a variety of risk treatment techniques and address optimum action plan decision making
Identify, interpret and analyse stakeholder needs and expectations
Identify constraints, uncertainties, risks and opportunities of the project (commercial, social, cultural, legislative, safety, environmental, business, etc.)

Instructions:
Firstly, establish an appropriate risk management context, including likelihood and consequence criteria, escalation table, etc.
Secondly, identify a major possible uncertainty or risk event with potential major positive or negative impact on selected objective, e.g. technical, safety, commercial, etc.
Thirdly, prepare a Risk Management Plan (RMP) in accordance with AS/NZS ISO 31000:2018
Fourthly, define the project boundaries and objectives carefully; you may need to simplify and define the boundaries of your report (for example “looking only at commercial risks” only) in order to achieve the word limit.
Include relevant literature review.

Show evidence of consideration of alternatives for risk management.
Clearly state the risk tolerability criteria employed.
Consider aspects beyond the texts and lecture materials i.e. value added discussion.
Submit as a soft copy
Reference correctly – not referencing sources correctly can lead to a mark deduction, and not referencing sources at all (including pictures, diagrams, and photographs) can be seen as plagiarism and can lead to disciplinary action.

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