cost baseline and funding requirements, for the

PPMP20008 Assessment 4: Risk register, Cost Baseline and funding requirements This is an individual assessment. Criteria You are required to apply your knowledge of project management concepts when developing the risk register, cost baseline and funding requirements, for the scenario described in the project scenario. Assessment Criteria Allocated marks Appropriate application of the following project management concepts in the development of a risk register for the project described in the selected tender. 1 The project management concepts within the risk register are correctly applied and it is an accurate reflection of the supplied project (Three risks are to be included, two (2) threats and one (1) opportunity) 15 2 The project management concepts within the cost baseline and funding requirements are applied correctly and it is an accurate reflection of the supplied project. 5 Total Marks 20 Ensure your submissions are submitted in an appropriate format, are concise, demonstrate clarity of expression, and correct grammar and spelling.Assessments provide the opportunity for students to demonstrate their knowledge and skills to achieve the required standard. To do this, assessment responses need to be both clear and easy to understand. If not, the University cannot determine that students have demonstrated their knowledge and skills. Assessments will, therefore, be marked accordingly including the potential for 0 (zero) marks where relevant. Risk Register You must use the template provided in Moodle to describe three risks. • Two (2) threats (negative risks) and • One (1) opportunity (positive). Each risk is worth 5 markswhich are broken down by section within the template as follows: Section Available marks per risk Risk / Opportunity Identification (Columns indicated with redheader) 2 Risk & Opportunity Analysis (Columns indicated with orange header) 2 Post Treatment & Opportunity Analysis (Columns indicated with green header) 1 Formatting, grammar, spelling, clarity of expression etc. are included in the marks above. Make sure you utilise the supports available to you such as the ALC and Your Tutor. Cost Baseline and Funding Requirements You are to provide the cost baseline and the funding requirements using separate tables within a single documents. Please refer to the information provided in the Week 4 lecture materials and any feedback provided on the summary budget in your Charter submission. If you are utilising the information within your Charter please include a reference to it at the bottom of the documents. Do not paste pictures of the tables. You must provide the tables in the format that you created them either Excel Spreadsheet or a table within Word. If you wish to paste from Excel to Word, make sure you paste the information as a table. Do not include PDFs or Zip files. The cost baseline is to be provided against activities on a time line, you must include the total and cumulative total in your submission. The following slide is an example of what is expected, however please note the following does not relate to the project described in the project scenario. The funding requirements are to be included in a separate table. Funding is not normally provided at equal time periods but usually when the project passes through pre-determined gates. The funding requirements also include management reserves which are not included in the cost baseline. The following slide is an example of what is expected. Please note the information in the funding requirements provided in this example does not relate to the project for which the cost baseline example was provided. Common Errors There are a number of common errors that can be avoided. The following points will give you an indication of some of the points that markers will be looking for. • Do not include ‘Labour’ or ‘Materials’ as a line item in the cost baseline, these should be included in the costing of the activity. E.g. ‘4.4 Training material development’ would include the labour hours of the technical writer or training who would be developing the materials and also the cost of any software, printing or web-design required. • Ensure it is against a timeline that reflects the project scenario timeline. Don’t provide a cost baseline for a three year period if the project scenario is a one year project. • The Total and Cumulative Totals need to be included and add up correctly. • The amount in the Cost Baseline must not align correctly to the funding requirements. • The funding requirements must demonstrate an understanding of the alignment of gates to funding releases. • The management reserve needs to be applied correctly. Many students include ‘contingency funding’ rather than ‘management reserves’ make sure that you understand the difference.

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