NZQA registered unit standard
Title
Manage project risk
Level
5
Purpose
25228 version 2
Page 1 of 4
Credits
8
This unit standard specifies the outcomes required to manage
risk within a project in order to avoid adverse effects on project
outcomes. It covers determining, monitoring and controlling
project risks, and assessing risk management outcomes. A
project manager usually performs the specialist functions
required by this unit standard.
People credited with this unit standard are able to: determine
project risks; monitor and control project risk; and assess risk
management outcomes for projects.
Classification
Business Operations and Development > Project Management
Available grade
Achieved
Explanatory notes
1
Legislation relevant to this unit standard may include but is not limited to: Health and
Safety in Employment Act 1992; Resource Management Act 1991; Human Rights Act
1993; Privacy Act 1993; Employment Relations Act 2000.
2
To demonstrate competence in this unit standard a candidate must be able to
provide evidence that they have taken responsibility within projects for risks
associated with the projects. This will include evidence of managing the work of
others within the project team with respect to risk management within the project.
3
Definitions
Risks may be potential, perceived, actual, or probable.
Organisational requirements refer to instructions to staff on policy and procedures
which are documented in memo or manual format and are available in the workplace.
These requirements include but are not limited to – site specific requirements and
company quality management requirements.
Delegated authority refers to activities being done independently, within broad
guidance, or by taking the lead of a team; involving consultation with other project
members, teams, and internal stakeholders; involving the selection, use and
supervision of appropriate risk management methods and tools; being conducted
routinely or as changing circumstances dictate; taking into account internal
organisational change and external environmental change.
Project outcomes are the difference the project outputs will make to the people or
institutions the project will benefit.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
4
25228 version 2
Page 2 of 4
Evidence is required of managing a minimum of two projects.
Outcomes and evidence requirements
Outcome 1
Determine project risks.
Evidence requirements
1.1
Project risks are identified, documented, and analysed, in consultation with
stakeholders and senior personnel in terms of risk planning, in accordance with
project plan and organisational requirements.
1.2
Established risk management techniques and tools are used to analyse risks
and assess options, and preferred risk approaches are recommended to senior
personnel, in accordance with delegated authority and organisational
requirements.
Range
risk management techniques and tools may include – calling upon
personal experience and/or subject matter experts; conducting or
supervising qualitative and/or quantitative risk analysis, such as
schedule simulation, decision analysis, contingency planning and
alternative strategy development; using specialist risk analysis
tools to assist in the decision making process.
1.3
Risk management plans are developed, agreed with stakeholders, and
communicated to ensure clarity of understanding and ongoing management of
risk factors, in accordance with organisational requirements.
1.4
Risk management processes and procedures are established to enable
effective management and communication of risk events, responses and
results, in accordance with organisational requirements.
Range
risk management processes and procedures may include –
measurement of actual progress against planned milestones;
recording and reporting of major variance; implementation of risk
control trigger mechanisms; communication with stakeholders,
dispute resolution, modification procedures.
Outcome 2
Monitor and control project risk.
Evidence requirements
2.1
Projects are managed in accordance with established project and risk
management plans to ensure a common approach to the achievement of
objectives, in accordance with project plan and organisational requirements.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
2.2
Progress is monitored against project plans to identify variances and
recommend responses to senior personnel for remedial action, in accordance
with organisational requirements.
project plan may include – a single document; a covering
document which integrates the requirements of the project
management functions using appropriate formats and procedures.
Recommended responses to variations may be made –
independently or with senior personnel endorsement if necessary;
regularly throughout the project life cycle; in consultation with
project team members, section heads, project manager and
stakeholders; taking into account internal organisational changes
and external environmental change.
Range
2.3
25228 version 2
Page 3 of 4
Agreed risk responses are implemented and project plans modified to reflect
any changing project objectives, in accordance with organisational
requirements.
Outcome 3
Assess risk management outcomes for projects.
Evidence requirements
3.1
Project outcomes are reviewed to determine effectiveness of risk management
processes and procedures in accordance with organisational requirements.
3.2
Any risk management issues and recommended improvements are identified,
documented, and passed on to senior personnel for application in future
projects, in accordance with organisational requirements.
Planned review date
31 December 2018
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
17 April 2009
31 December 2018
Rollover and
Revision
2
24 October 2014
N/A
Consent and Moderation Requirements (CMR) reference
0113
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
25228 version 2
Page 4 of 4
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact NZQA National Qualifications Services nqs@nzqa.govt.nz if you wish to
suggest changes to the content of this unit standard.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016