Describe (in detail): a) how and why you quantified at least three (3) risks in detail, and b) the stakeholders that each of the risks align with (e.g., ‘technical risk’, ‘political’, ‘economic’, ‘social’, ‘env’…)
7204ENG Research Assignment-Finish section 5 and 6-3pages
Requirements: 1000
Background
Students are expected to form groups of 3-4 to demonstrate understanding of risk analysis and management applied in practical settings. Students will consider the context of the latest trends in climate change mitigation and adaptation for the , and in the .
Scenario Briefing:
The assignment will be assessed on the group’s proficiency in developing a risk-based scenario, responding to assignment tasks (listed below), and incorporating lecture/reading materials where appropriate:
The General Manager of the Engineering Team is about to submit a business case to the CEO and Board for the implementation of a new project [insert project of your choice!]. This is a significant investment for the business and is one of the organisation’s top three (critical few) priorities.
The General Manager worked with a small team that put together some indicative pricing but is concerned as this was the same team that provided costs for a prior project that went over budget by 220% and delivery timeframe was delayed by nearly 6 months due to the internal challenges encountered on the decision of the project. There had been internal debate and push back on that project.
The General Manager cannot afford the same outcome as this includes a significant capital investment for the business and the Board is concerned about the business’s ability to deliver projects.
The General Manager has decided to ask you and your Project Team to develop a strategy with a process and plan for the project. He would like you to ensure:
the engagement between business departments and the client goes smoothly without any push back.
the project is resourced appropriately – skills, knowledge, expertise, and a team that works well together, and with other people and departments.
the onboarding, project delivery and engagement expectations are set appropriately with the supplier.
that any potential risks associated to timeframe or budget ‘blow out’ are captured and a plan with options to mitigate is introduced.
The General Manager has also asked you to see if you can identify any areas for efficiency and improvements so the project can be delivered under budget and timeframe. This way the General Manager can start to rebuild confident and show both the CEO and the Board that the Engineering Team does have the ability to deliver projects effectively and confidently.
Assignment Task
In Week 2, you will be asked to start thinking about the above-mentioned scenario, exploring where strategic and/or operational risks come into play. Based on this scenario, you will need to carry out the following:
Provide an overview (Establish the need) of the organisation, product/service, key stakeholders, and any other critical information, building off the provided scenario above. This is essential background for establishing the relevant context of what you are facing as a project and risk manager.
Build a strategy and plan (Co-design) for the concerns raised in the scenario, and elaborate on ‘Risk Identification’ (What, How, and Why in detail with examples – thinking through the barriers to success).
Describe (in detail): a) how and why you quantified at least three (3) risks in detail, and b) the stakeholders that each of the risks align with (e.g., ‘technical risk’, ‘political’, ‘economic’, ‘social’, ‘env’…)
Discuss (in general) the development of risk response planning for the scenario. Use references. (Ensuring that the workforce [employees] can handle the project)
Describe (in detail) the risk plan implementation for the risk identified within the scenario (Proof that the benefit is greater than the capital investment).
Develop an appropriate way for risk tracking, monitoring, and control, through a ‘TMC’ system.
Identify and describe 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.
Elaborate on the (in)effectiveness of your TMC in handling and dealing with the incident that occurred in the above point.
Summarise the key issues in the scenario and your proposed plan to address those issues.
Include an Appendix with your ‘Risk Management Approach & Plan’. This will include an overview on your approach and considerations, including how they created a ‘Safe Zone’.
Marking Scheme
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
Referring to national or international risk standards (e.g. AS/NZS IS031000:2018)
Making decisions under risk (one example) and under uncertainty (one example)
Applying one or more of the risk management approach to deal with ONLY ONE of the following scenario aspects: Finance, Procurement, Design, Contracts, Technology, OR Innovation
Marks will be allocated as follows – this is also in the marking rubric:
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 nine task requirements and the use of relevant literature in support of your work.
20% allocated to report presentation: internal logic and flow of argument, clarity of expression and figures, grammar, and spelling.
Submission instructions
Progress report (2-3 pages) with the team contract (i.e.: names, roles, signatures), Friday Week 4 (compulsory component). Upload to your Teams Group Space.
Final report to be submitted by 5pm Friday Week 10 via Learning@Griffith.
Final Report size: No more than 16 A4 pages (excl. cover page, list of references, attachments).
Only the stipulated length of the report will be read by your marker (attachments will be browsed).
APA 6 referencing style (), in-text.
Wikipedia is not an appropriate technical reference. However, it can be used as a resource to identify more appropriate academic resources.
12pt Times New Roman, Single column, 2.5 cm margins with 1.15 line spacing
Reference list in alphabetical order
Header and Footer on each page, in the format used for this document (No full-borders on each page)
EXECUTIVE SUMMARY
-scenario briefing
ORGANIZATIONAL OVERVIEW
Sustainability and innovation are key considerations when undertaking projects aimed at tackling the most critical global issues in this era of progress. Our organization, Lumos, Inc., proudly establishes itself as a leading force in shaping a brighter future by offering imaginative and ethically-driven solutions that address the world’s hunger for sustainable energy, thereby boosting real-world progress.
Company Background and Product Overview
Lumos, Inc. wields the magic of renewable energy across various technologies including wind, solar PV, solar thermal, hydro, and biomass, allowing us to craft clean energy solutions. We proudly stand as the largest 100% clean energy company globally, leading the global ranking of Energy Intelligence’s Top 100 Green Utilities since 2015. We offer reliable and efficient solutions powered by cutting-edge technologies in the realm of green energy infrastructure. We provide electricity sourced entirely from renewable origins in the electricity markets, with a special focus on corporations seeking to reduce their carbon footprint.
In the land down under, we’ve made substantial investments in wind energy, much like the magical creatures hidden in the Australian outback. Our presence in Australia includes a total installed wind capacity of 600 MW. Our green energy infrastructure projects are helping to transition Australia to a low-carbon economy while bringing forth future job growth and economic prosperity to the communities where we operate. These projects contribute to Australia’s pursuit of renewable energy targets and align with SDG 7: access to affordable and clean energy.
At Lumos, Inc., we are not mere muggles in the world of renewable energy and infrastructure, but the marauders of innovation, leading the way with the charm of sustainable solutions. Our mission is to harness the marvels of renewable energy and build the sustainable infrastructure needed for a brighter, greener future, ensuring that our world remains a place of wonder and possibility for generations to come. Our solemn pledge is to drive progress on three fronts: economic, environmental, and social, weaving a sustainable tapestry across Australia and New Zealand.
Summary of Project Deliverables
Set to be the largest in the southern hemisphere, we are currently conjuring our latest endeavour in renewable energy, the Patronus Wind Farm, a 1026-MW onshore wind power complex in Queensland. Nestled approximately 40 km southwest of the town of Warwick and 70 km southwest of Toowoomba, this promising project spans across the Goondiwindi, Southern Downs and Toowoomba Regional Council Local Government Areas (LGAs). It features a remarkable array of 180 Nordex Group’s Delta4000 turbines, boasting a total of three substations, each equipped with a power transformer that converts voltage from 33 kV to 330 kV. This remarkable initiative not only generates renewable energy but also symbolizes a significant step toward a greener and more sustainable future.
This project is being delivered in partnership with CleanCo, Queensland’s own renewable energy generator, with a total investment of AU$1.96 billion, and the local expenditure during the construction phase is set to exceed AU$500 million. The Patronus Wind Farm is expected to produce clean and renewable energy sufficient to power 700,000 Queensland homes.
The following are the project’s key technical deliverables:
a 1026-MW wind farm with Delta4000 wind turbines generators (WTG)
ancillary infrastructures including wind turbine foundations, hard stand areas, on-site substation
33kV overhead and underground electrical reticulation
three (3) substations and two (2) switching stations
main site access from Carbean Rd
up to two (2) operational and maintenance facilities
Aside from these, the project will also deliver non-technical services:
strengthen Queensland government’s decarbonisation strategy, reducing CO2 emissions by nearly three million tonnes per year
generate substantial economic activity in the Goondiwindi, Southern Downs, and Toowoomba Regional Council areas
400 jobs to be created over the course of the project and provide opportunities for apprentices and technicians to be trained
offer diversified income opportunities for wind farm host landowners and contribute financial support to local community programs, events, and initiatives throughout the project’s lifespan
The project acknowledges potential community and neighbour concerns and commits to following the Complaint Investigation and Response Plan through the construction and operation phases. The Patronus Wind Farm gives priority to biodiversity preservation and will adhere to its environmental management plan to minimize environmental impacts. When unavoidable, these impacts will be mitigated and, if needed, offset as per legal requirements. Control measures will also be implemented to manage potential air quality effects from the project’s construction.
Project Stakeholders
Every project involves stakeholders who are directly or indirectly affected by its outcomes, each with varying interests and influence on the project. Identifying and engaging these stakeholders will be essential to navigate the complex landscape and ensure that the Patronus Wind Farm achieves its objectives while fostering positive relationships and sustainable outcomes for all involved.
Table 1. Patronus Wind Farm Primary and Secondary Stakeholders
These individuals, groups, and organizations hold a vested interest in the project’s success, and their perspectives, concerns, and contributions will significantly influence its outcome. In the following stakeholder matrix, we provide a comprehensive overview of key stakeholders, and their respective interests, critical to the project’s success and sustainability.
Figure 1. Patronus Wind Farm Stakeholder Matrix
From our valued community members and dedicated local businesses to government bodies and environmental organizations, each stakeholder plays a pivotal role in the realization of this renewable energy endeavour. We remain steadfast in our commitment to address concerns, mitigate impacts, and foster positive relationships throughout the project’s lifecycle. With a shared vision of a greener and more sustainable future, we look forward to harnessing the wind’s energy to power our homes, empower our communities, and protect our planet for generations to come.
PROJECT STRATEGY AND PLAN
Developing the Project Strategy and Plan has drawn information, insights, and learnings from our past renewable projects. These key strategies aim to develop plans to improve the project management process and ensure the success of the Patronus Wind Farm project. These include enhancing the communication plan, developing a consultation plan, improving the contract strategy, and risk management strategy.
Enhance Communication Plan
An effective communication plan will be implemented as part of the project communication strategy for the Patronus Wind Farm Project. The communication plan describes the approach for information sharing, discussion platform for potential issues, and finding solutions collaboratively to promote engagement between the organisation and project stakeholders. This will be a communication guide throughout the project planning, construction and development, and operation and maintenance.
The project team deliberately identified the objectives for the communication plan:
Provide timely updates on the project through weekly meetings and monthly project status updates.
Keep a database of precise and up-to-date contact details for the project stakeholders.
Provide update notifications at project stages, milestones, and deliverables.
Facilitate the urgency of discussing potential issues and finding solutions.
Provide dedicated time and location for collaborative decision-making.
Ensure dissemination of the communication plan concisely.
Maintain an open line of communication,
Through various communication methods, such as as-needed meetings, communication logs, progress reports, and planning and assessment reports for project phases, optimise the effectiveness of the communication plan. Continuous engagement and dedication of project stakeholders are required for this to be effective.
Develop a Consultation and Engagement Plan
Our organisation will work collaboratively with the project stakeholders for our project to be successful. The project consultation and engagement plan are part of our organisation’s key strategy to acquire the resources appropriately through the skills, knowledge and information expertise that influence the development of this project.
This plan aims to set up a technical group that will advise and consult the project throughout the project lifecycle, from planning to operation and maintenance, and coordinate with the regulatory requirements accordingly. This technical group will comprise of government agencies involved in this project and renewable energy consultants. This method of engagement will give our company an opportunity to seek technical information and different perspectives and views that our company may not be able to investigate and study. They will also be part of the regular meetings and discussions, work collaboratively with the assessment reports and provide feedback as part of the consultation plan.
Improve Contract Strategy
After careful deliberation with the project stakeholders, a Public-Private Partnership (PPP) will be the suitable contract strategy for the Patronus Wind Farm project. This will involve collaborating with our company and the government to deliver this project. Considering PPP as the contract strategy will give beneficial results regarding financing and resources, risk management, consultation and engagement with knowledge expertise, and technological innovations.
Implementing a PPP requires careful consideration of legal, financial, and governance aspects. Contract agreements, business strategies, risk allocation mechanisms, and performance benchmarks must be established in a more detailed and structured way. Communication tools must be provided to all individuals related to this project to ensure transparency, accountability, and value for money.
Comprehensive Risk Management Strategy
Preparing the risk management plan is part of the key strategies for this project to identify and assess potential issues that will affect the project. A preliminary risk identification will be conducted to enumerate all the potential risks for the project and will be discussed in Section 4.1. This has been based on a brainstorming technique on the experiences of the past wind farm project and the project team’s collective judgement and expertise. The results of the risk identification are structured using the Risk Breakdown Structure (RBS) to summarise the potential risks for the project in all areas and stages.
As part of the risk assessment, a risk rating will be developed to analyse the identified potential risk prior to conducting a detailed risk assessment. The high potential risks identified during the discussion will be shown in Table X. A preliminary risk assessment will provide a clear and justified explanation for the level of assessment and analysis conducted for all project areas and stages and their effects. The project risk assessment that will be discussed in Section 4.2 will present the significant consideration of:
the identified high potential risk of the project
the significant potential effects on the project of the identified risks
the impact and likelihood of adverse effects
likely residual effects suppose the implementation of the proposed risk response measures.
predictions of the significance of residual effects, and
the proposed approach to total management control of the project
This Risk Management Strategy that will be developed is in accordance with the following:
the guidelines set out by the International Standard of Organisation (ISO) with respect to ISO 31000:2018 Risk Management Guidelines
the Sendai Framework for Disaster Risk Reduction 2015-2030
PROJECT RISK MANAGEMENT
The Patronus Wind Farm is one of our organization’s top priorities, and this demands a meticulous approach to risk management. It is essential to ensure that our past challenges serve as valuable lessons in our journey toward success, acknowledging the importance of efficient planning, precise communication, and resourcing. We acknowledge the necessity to address past issues openly and positively, demonstrating our proactive approach to risk mitigation and project optimization.
Risk Identification
The work breakdown structure (WBS) method is used to examine various work components, such as site preparation, construction, and testing and commissioning, to uncover potential risks linked to processes or the final product that could impact the project’s successful and on-time completion.
Moreover, through brainstorming, the team collaboratively assessed events and classified them into two categories: internal risks, which pertain to construction and operational concerns, and external risks, associated with factors like market conditions and uncontrollable hazards. To enhance our risk management efforts, we adopt the hierarchical structure of the WBS, which allows us to create a systematic Risk Breakdown Structure (RBS) for a clearer understanding of risk exposure and more effective risk management.
Figure 2. Patronus Wind Farm Risk Breakdown Structure
This systematic approach empowers us to confront challenges head-on and proactively safeguard the Patronus Wind Farm project. This approach provides us with the insights we need to optimise our strategies, improve project resilience, and ensure that the Patronus Wind Farm project stays on track and within budget.
2. RISK IMPACT ASSESSMENT (JOANA)
The implementation of risk impact assessment framework serves as a critical component within our organization’s comprehensive risk management strategy. This framework has enabled us to conduct a detailed analysis of specific events, considering critical aspects such as project cost, project schedule and technical performance. Through this rigorous process, we have established a priority ranking system based on likelihood of occurrence and potential degree of impact. This ranking system, in turn, facilitates decision-making by our stakeholders. The framework significantly contributes to our organization’s ability to proactively manage risk, enhance our project outcomes, and capitalize on emerging opportunities.
Insert table of Major Risk Assessment
RISK RESPONSE PLANNING (JOANA)
Insert table of Risk Response for the identified Major Risks
RISK PLAN IMPLEMENTATION (MINGYI)
-Risk Rating Comparison
-Proof of benefit
RISK TRACKING, MONITORING, AND CONTROL (MINGYI)
-refer to previous document
-change requests
-audit
RISK PLAN EFFECTIVENESS
Our organisation will focus on strengthening our contract management planning strategy to ensure that these necessary measures will prevent a recurrence of our past issues and problems in the future.
Due to the traditional contractual agreement between our organisation and the project stakeholders, we experienced a major setback in the project schedule and budget “blowout” in our past renewable energy project The incident occurred due to the ambiguous terms and conditions outlined in the contract resulting in disagreements between our organisation and project partner.
Our project partner was supposed to develop their 103MW wind farm project as part of our 908-MW onshore wind farm project in 2020. However, due to connection delays, increasing costs of transmission, and disputes on connection agreements, they pulled out their contract and abandoned the development of their part of the project. Our company was still able to push ahead with the project – leaving us with all the challenges at that time:
Instead of developing an 805-MW project, the project scope increased to a 908-MW project in order to push through with our project objectives.
Changes in scope resulted in an over-budget to find additional resources, and the project was overdue for almost a year.
Additional project scope was required to acquire new regulatory compliance from the state governments and renewable energy agencies.
Hence, the lessons learned from our past projects allow us to review and improve our risk management approach, particularly with contractual risks. Acknowledging contractual risks as one of the major risks ensures that our succeeding projects, such as the Patronus Wind Farm project, will be successful given that many problems and challenges occurred in the past project centred on only one cause – disputes in contractual agreements.
From here on, if the same incident is likely to happen again in the Patronus Wind Farm project, our team will be able to be proactive, rather than reactive towards the problem. Through our comprehensive risk management strategy, a comprehensive and precise contract will be handed over to all project stakeholders, including performance guarantees and bonds to impose contractual obligations. This will give the project stakeholders a clear context and overview of the decision-making as a project progresses. This strategy will help us ensure the coordination and communication of our organisation and the project stakeholders and taking responsibility of everyone’s obligations.
CONCLUSION
REFERENCES
APPENDIX
REMINDER: THIS IS A BUSINESS CASE, NOT AN ACADEMIC REPORT
Very high level conversations – language needs to be simple
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