7204ENG Risk Management and Safety

7204ENG Risk Management and Safety – Major Assignment
The 7204ENG course has a single assignment representing a major assessment item which must be
submitted by a group of 2, 3 or 4 students. The assignment will be assessed on the student’s proficiency in
developing a risk-based scenario, responding to assignment tasks (listed below), and incorporating
lecture/reading materials where appropriate. In doing so, course learning outcomes will be achieved.
Assignment Task
Each group is requested to start thinking about constructing a scenario, in a structured way, where
strategic and/or operational risks come into play. Based on this scenario, you will need to carry out the
following assignment tasks:
1. Describe the Scenario.
2. Provide an overview of the organisation, product/service, key stakeholders, and any other critical
information relating to your Scenario. This is an essential background for establishing the relevant
context of what you are facing as a risk manager.
3. Elaborate on Risk Identification (What, How, and Why in detail with examples).
4. Describe how and why you quantified at least three (3) risks in detail.
5. Discuss (in general) the development of risk response planning as expected in your scenario.
6. Describe (in detail) the risk plan implementation as expected in your scenario.
7. Develop an appropriate risk tracking, monitoring and control (TMC) system.
8. Identify an incident that has occurred either in one of your identified risks, or related to all your risks,
and describe the nature and extent of change that has taken place.
9. Elaborate on the (in)effectiveness of your TMC in handling and dealing with the incident occurred in
the above point.
10. Give a summary of key issues in the scenario.
7204ENG Risk Management and Safety – Major Assignment
Task Requirements
In responding to the above tasks, it is expected that you will be demonstrating your capabilities in:
 Dealing with various Stakeholders having different attitudes towards identified risk(s)
 Using both objective and subjective risks via probability distribution and fuzzy logic
 Referring to national or international risk standards (e.g. AS/NZS IS031000:2009)
 Making decisions under risk (one example) & under uncertainty (one example)
 Applying one or more of the risk management tools and techniques to deal with ONLY ONE of the
following aspects:
Marking Scheme
1. Please ensure that your assignment content demonstrate a thorough knowledge of the materials
covered in the lectures.
 You need to address the above requirements in a coherent report format with typical headings
supporting the report’s beginning, body and conclusion
2. The marks will be allocated as follows:

80% allocated to Content: your effort in demonstrating knowledge and application of relevant
concepts covered in the lectures, appropriateness of how you are addressing the ten task
requirements and the use of relevant literature in support of your work.
20% allocated to Presentation: clarity of expression and figures, grammar, spelling, etc.

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