Project and Contract Risk Management

University of Lincoln Assessment Framework

Assessment Briefing 2022-2023

 

Module Code & Title: BUS9044M / BTE9008M Project and Contract Risk Management
Contribution to Final Module Mark: 70%
Description of Assessment Task and Purpose:

Following the module’s project risk management and contractual law related lectures and seminars coupled with your additional study on the subject, you should be familiar with the practice, theory and contemporary research within risk management. You may also have your own varied professional experiences to draw upon in order to help construct a comprehensive evaluation of this complex matter.

In this written assignment (report), you are asked to critically analyse a project, assessing and mitigating its potential inherent risks by utilising project risk management tools and techniques as well as contract law maxims taught within the module.

Consider a project that has been proposed, planned or just recently started and for which you are able to obtain sufficient amount of information/data. First, identify and categorise any potential risks for the project using a range of available analytical tools. After assessing the identified inherent risks in more detail, determine and further elaborate on the most critical ones. How do you think your behavioural characteristics (e.g. risk propensity, perception, attitude) influenced the assessment? Provide mitigation measures for 2-3 critical risks, relating them to the overall risk strategy you would envisage for the project. Finally, recommend how contractual terms and provisions may be utilised to judiciously allocate/mitigate a particular critical risk or some other common risk arising in such class of projects. You should aim to allocate circa 1,000 words to the contract law considerations, with the size of other assignment parts left to your discretion given the emphasis you wish to put.

Your standpoint should be balanced and analysis well-written, generously complemented with suitable references to the relevant, contemporary literature as well as referring to personal experiences, observations and insights where appropriate.

Learning Outcomes Assessed:

critically evaluate how project risk can be best managed in accordance with contemporary risk management research and practice and develop a robust risk management plan

analyse how project complexity and associated cultural aspects can have an impact upon project risk management

assess risks and recommend effective measures to manage uncertainty and project’s exposure to risk

evaluate procurement strategies, tools and constraints, including sourcing, contractor management and relationship building

explain key legal concepts, identify risks involved in the negotiation, formation and management of procurement contracts, and formulate strategies for avoiding and resolving contractual disputes

Knowledge & Skills Assessed:

Except the obvious opportunity to assess subject specific knowledge and practical understanding of the key risk and contract management methods and techniques, this assignment also tests the ability to critically evaluate and suggest the required adjustments to established theories.

In terms of emotional intelligence, the assignment should improve self-confidence of students in relation to their ability to use the risk management toolkit in professional life after graduation.

Finally, problem solving, estimation and forecasting are a substantial part of this assignment, requiring students to demonstrate their imagination, creativity and ability to synthesise some new knowledge.

Assessment Submission Instructions:

Submission deadline is Friday 4th February 2022. Please submit only an electronic copy of the assignment via Turnitin®.

Date for Return of Feedback: before 25/02/2022
Format for Assessment:

You should follow the established academic report format and all referencing must adhere to the Harvard Referencing System. All figures and tables should be consecutively numbered and captions provided. Do not forget to indicate clearly how many words you have used in your submission.

Word limit: 3,000 words (±10%) – excluding diagrams, footnotes, appendices and references.

Marking Criteria for Assessment:

The analysis should be based on appropriate and substantial research, which must be evidenced in the assignment. A mere composition of the case studies taken straight from certain sources without student’s own substantial elaboration, critical evaluation and synthesis of original recommendations will not be deemed an original contribution and, consequently, will attract low marks. The report should be properly presented and referenced, acknowledging all sources used and employing the Harvard Referencing System. Along with the usual criteria such as the document’s structure, appropriate use of sub-headings, logical and smooth flow of argument, language style and the correct use of grammar and punctuation, other more in-depth performance indicators will be employed (see the last page).

Please note that all work is assessed according to the University of Lincoln Management of Assessment Policy and that marks awarded are provisional on Examination Board decisions (which take place at the end of the Academic Year.

Feedback Format:

Summarised on Turnitin and explained face-to-face individually, if needed.

Additional Information for Completion of Assessment:

Ensure that you have retained a back-up electronic copy of the assignment submitted. If you are planning on working with another student, it is acceptable to undertake research together and discuss issues, but it is not advisable to jointly develop or share solutions unless this is specified by your lecturer. You should take reasonable care that your assignment is not, accidentally or deliberately, obtained by other students. Note that the content of your reports will be treated as confidential and will only be accessed by the first/second marker and the external examiner.

Please make every effort to submit work by the due date indicated above. Students are advised not to assume that granting of an extension is a matter of course. Factors such as standard work pressures, holidays, etc. are not regarded as appropriate reasons for granting extensions. Assignments received after the deadline (without an approved extension) will be subject to a penalty in line with the university policy.

Assessment Support Information:

Firstly, as a formative assessment, you will be expected to prepare a brief poster presentation (i.e. one eye-catching slide/visual/mind-map in any format: Acrobat, Powerpoint, Publisher, Visio, Sway, etc) on the project case study selected for an in-depth investigation. You are asked to collate relevant data and information and outline the overall analytical approach to the assignment as well as specific areas of interest on which a further inquiry will be focussed.

This work is not marked, but allows you to start working timely on the final report, receive initial feedback and also practice such a challenging format as poster presentation (concise yet comprehensive visuals).

Assignment workshops during the term and support sessions at the end of it will also provide plenty of opportunities to clarify any issues and provide formative feedback on students’ ongoing work.

Important Information on Dishonesty & Plagiarism:

University of Lincoln Regulations define plagiarism as ‘the passing off of another person’s thoughts, ideas, writings or images as one’s own… Examples of plagiarism include the unacknowledged use of another person’s material whether in original or summary form. Plagiarism also includes the copying of another student’s work’.

Plagiarism is a serious offence and is treated by the University as a form of academic dishonesty. Students are directed to the University Regulations for details of the procedures and penalties involved.

For further information, see www.plagiarism.org

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Skills >70% 60-69% 50-59% < 50%
Reference to Academic Literature Developed & justified using own ideas based on a wide range of sources which have been thoroughly analysed, applied & discussed. Able to critically appraise the literature & theory gained from a variety of sources, developing own ideas in the process. Clear evidence & application of reading/theory relevant to the subject; use of indicative texts identified. Literature either not consulted or irrelevant to assignment set.
Application of Theory Assignment demonstrates integration & innovation in the selection & handling of theory. Insightful & appropriate selection of content/theory in key areas. Most key theories are included in the work in an appreciated & straightforward manner. Inaccurate or inappropriate promotion of theory.
Critical Evaluation of Theory Assignment consistently demonstrates application of critical analysis & is well integrated into the text. Clear grasp of theory through critical analysis & critical thought of the topic area. Demonstrates some application of critical evaluation of the topic area. Largely descriptive, lacks critical thought/analysis/reference to theory.
Conceptualisation Able to recognise consistency & reconcile inconsistency between information, using cognitive & hypothesising skills. Consistent understanding demonstrated in a logical, coherent & lucid manner. Demonstrates understanding in a style that is mostly logical, coherent & flowing. Limited understanding with a number of distinctive flaws.
Problem Solving Able to critically analyse many sides of a complex issue & resolve information conflicts. Uses a rigorous approach to problem solving. Able to critically analyse simple issues & to recognise conflicts. Evidence apparent of some approach to problem solving. No substantial evidence of attempt to be critical or to recognise or address informational conflicts.
Synthesis Demonstrates original insights; conclusions strongly supported. Clear synthesis of recommendations presented; conclusion is a logical extrapolation from the report findings. Some synthesis of ideas based on the key points found in the literature (“off the shelf”); states a general conclusion. Proposes vague or indirect recommendations and illogical or unsupportable conclusion.