Construction Risk Management Assignment 2 (BLCN28002) Assignment Help

Due Date Week 9, Thursday, 9 May 2024, submit via Moodle by 11:45pm AEST

Weight 50%

Marks 50 marks total

This assignment has been designed to develop your knowledge, skills, and graduate attributes through this learning unit. CQU Graduate Attributes: 1) Knowledge, 2) Communication, 3) Cognitive, Technical and Creative Skills, 4) Research, 5) Self-management, 6) Ethical and Professional Responsibility

Unit Learning Outcomes: 3) Identify and evaluate management strategies for mitigating, transferring, and insuring  construction risk. 4) Effectively communicate business risks and their implications on insurance to various stakeholders

Assignment Part 1) Literature review and identification of key risks and opportunities for Australian construction projects  (25% = 20 marks for research and writing, plus 5%= 5 marks for academic referencing. Please see marking rubric below).  The expectation is for approximately 6 pages of written text including references at the end of Part 1).

Your Task:

Investigate the recent academic and industry literature and prepare a short (1500-2000 words) overview of Risk and Value  Management (RM and VM) issues and opportunities in the Australian Construction Industry today. These RM and VM issues  may vary across the lifecycle stages of a construction project as well as management fields such as financial planning,  project and environmental management, labour procurement, building quality and others. Identify and evaluate the key RM  and VM issues you have identified and critically discuss how these can be addressed through construction risk management.

Assignment Part 2) Case study research and analysis with development of project specific recommendations (25%,  composed of Part 2a= 15%/15 marks and Part 2b =10%/10 marks).

Your client has been impressed by your recent risk analysis for the development of a co-working office on the top floor of  their existing building (from your Assignment 1). The Property Investment Board has approved the project to go ahead, and  you have been engaged as the client’s Project Risk Advisor. Congratulations!

Your tasks for the board meeting presentation next month are as follows:

a) Design and develop a Risk Break-down Structure (RBS) for the construction phase of this project. This RBS should  include at least 15 items (Risk Level 2), of which the client has already raised several in the last meeting (see draft  table below. Items RL2 no. 1),5),9), and13) were given by the client and are to be included). Complete the RBS below,  making reasonable assumptions. You may include 1 extra page with notes or diagrams if needed.

b) For five (5) of the risks from your RBS (Risk Level 2), please prepare for each a short description (300-400 words) on  how the project team can use specific qualitative or quantitative methods to analyse the identified risk from your RBS.  Briefly describe why the proposed analysis method is suitable, what data will be collected, and how the results will  inform the project delivery.

Construction Risk Management

RBS Project

Risk Level 1

Risk Level 2

Risk Description /

Cause (1-2 sentences)

Likelihood/ Impact (Scale 1-5, low/high)

Risk Analysis  Method/s

Risk Owner

Co-working

Office space on  top floor of

existing

building

External

1)Stakeholder

2)

3)

4)

Internal

5) Contracting and Procurement

6)Insurance

7)

8)

Technical /

Environmental

9) Work Health and  Safety (WHS)

10)

11)

12)

Organisational

13) Financial Risk Management

14)

15)


Submission Instructions and Checklist:

⮚ Use Harvard referencing style for in-text references and bibliography ⮚ Name your file: “Your full name_BLCN 28002_A2”

⮚ Please submit via Moodle online one document file as PDF, word doc or docx only ⮚ Due time is 11:45pm AEST on 9 May 2024.

⮚ Late submission without approval accrue 5% mark deduction per calendar day. ⮚ You are required keep a complete soft copy backup of all material submitted.

Marking Rubric

Assignment 2

(50%)

Fail

Pass

Credit

Distinction

High Distinction

Skills

Assessment

<50%

≥50% & <65%

≥65% & <75%

≥75% & < 85%

≥ 85%

Part 1a)

4

8

12

16

20

Research and

investigation of  RM and VM

issues and

opportunities

Poor

analysis

lacking

research

and critical

consideratio

ns.

Significant

mistakes

and

omissions.

Basic analysis with  some research but  lacking depth in

critical argument and writing. Some  minor mistakes and  omissions.

Clearly written  critical analysis  based on

relevant

research,

within clearly

written

discussion.

Clearly written

critical analysis

based on relevant  research, within

clearly written

discussion. Drawing  out theoretical and practical

implications.

In-depth and clearly  written critical analysis  based on relevant

research, within well  written discussion.

Drawing insightful

theoretical and

practical implications  and linkages to

research.

Part 1b)

1

2

3

4

5

References

and Writing

Lack of in-text

citations and

bibliography. Not  correctly used

Harvard

reference style  with overall small  number of

references.

Insufficient use of in text citations or

bibliography. Not

correctly used Harvard  reference style with  overall small number  of references.

Properly used in text citations and  bibliography. Use  of Harvard

reference style and  sufficient

references.

Properly used in-text  citations throughout and  adequate bibliography.  Correctly used Harvard  reference style; with  sufficient references of  journal articles.

Properly used in-text

citations throughout,  integrated in advanced  writing and

comprehensive

bibliography. Correctly  used Harvard reference  style; majority of

references are journal articles.

 

Part 2a)

3

6

9

12

15

Prepare RBS

and

communicate  key project

construction

risks

Poor

evaluation,

lacking content  and clear

definition of

RBS structure

for the

specified

project context. Including

significant

mistakes and

omissions.

Basic evaluation and  content of RBS

structure for the  specified project  context. Including  minor mistakes and  omissions.

Good

evaluation and  content of RBS structure for the  specified

project context.  Including some  theoretical and  practical risk

implications

Clear evaluation and  relevant content of  RBS structure forthe specified project

context. Including  theoretical and

practical risk

implications with

linkage to

construction

management

In-depth evaluation and relevant content of RBS structure for  the specified project  context.

Demonstrating

advanced theoretical  and practical risk

implications and

linkagesto

construction

management practice.

Part 2b)

2

4

6

8

10

Synthesis of

RBS risk

analysis

methods

Poor

synthesis

lacking

content and

critical

consideration

s. Significant

mistakes and

omissions.

Basic synthesis with  some relevant

content but lacking  depth in argument or writing. Some  minor mistakes and  omissions.

Clearly written  synthesis

based on

relevant

content and

clearly argued  and written.

Clearly written

synthesis,

demonstrating

extended relevant  content, within clearly  argued written

discussion.

Drawing out some  theoretical and

practical

implications.

In-depth clearly written  synthesis based on  extended relevant

research, within well  written discussion.

Drawing out insightful  theoretical and practical implications

Total

Comments

Late submission Penalty (5% of the assessment weighting per calendar day (2.5 Mark))