significance in managerial decision making pertaining to risk management

Assessment 2-: Critical Review & Analysis
Due date: Week 7
Group/individual: Individual
Word count/Time provided: 2500 words
Weighting: 25%
Unit Learning Outcomes: ULO2, ULO3, ULO4
Assessment 2 Detail
This assessment requires students to work individually to critically review quality and risk concept to discuss its application in a project environment and its impact on project life cycle. Student is also required to discuss about two contemporary (what is in practice) models of quality management and two contemporary models of risk management used in business organization/industry of their choice. The industry of choice should fall within the domain of project management.
Assessments 2 Marking Criteria and Rubric
The assessment will be marked out of 100 and will be weighted 25% of the total unit mark. The marking criteria and rubric are shown on the following page.
Assessment 2 Marking Criteria and Rubric
Marking Criteria Not Satisfactory (0-49% of the criterion mark) Satisfactory
(50-64% of the criterion mark) Good
(65-74% of the criterion mark) Very Good
(75-84% of the criterion mark) Excellent
(85-100% of the criterion mark)
Critical evaluation of Quality
concept (20 marks)
• No demonstration of
critical evaluation through analysis of contemporary ideas/concept in Quality management • Evidence of limited interpretation and demonstration of critical evaluation through the
analysis of contemporary ideas/concept in quality management. • Evidence of good
demonstration of critical evaluation through the
analysis of contemporary ideas/concept in quality management
• Good analysis of the impact of quality on
project life cycle
• Evidence of very good understanding and demonstration of critical evaluation through the analysis of contemporary ideas/concept in quality management
• Very good analysis of the impact of project life cycle
• Detail explanation demonstrating very
good critical thinking skills
• Evidence of an excellent understanding of and demonstration of critical evaluation through the analysis of contemporary ideas/concept in quality management
• Very good analysis of the impact of quality on project life cycle and in managerial decision with detail explanation
• Referencing of
supporting literature in the interpretation, explanation and analysis is presented
• Analysis presented is rigours and enlightening indicating independent strongly argued coherent writing
Critical evaluation of Risk
concept (20 marks)
• No demonstration of
critical evaluation through analysis of contemporary
ideas/concept in Risk management • Evidence of limited interpretation and demonstration of critical evaluation through the
analysis of contemporary ideas/concept in risk management. • Evidence of good
demonstration of critical evaluation through the
analysis of contemporary ideas/concept in risk management • Evidence of very good understanding and demonstration of critical evaluation
through the analysis of contemporary ideas/concept in risk management • Evidence of an excellent understanding of and demonstration of critical evaluation
through the analysis of contemporary ideas/concept in risk management
•
Good analysis of the impact of risk on project
life cycle
•
•
Very good analysis of the impact of risk on project life cycle Detail explanation demonstrating very good critical thinking skills •
• Very good analysis of the impact of risk on project life cycle and in managerial decision with detail explanation Referencing of supporting literature in the interpretation, explanation and analysis is presented
• Analysis presented is rigours and enlightening indicating independent strongly argued coherent writing
Review of two best practice quality models in industry
(15 marks)
•
• Lack of evidence of enough use of literature and limited interpretation of the models.
No evidence of critical review of best practice quality models • Use of some supporting literature with limited interpretation of models and their significance in managerial decisionmaking pertaining to quality management. • Evidence of good reference to supporting literature in reviewing best practice models with good interpretation of model significance in managerial decisionmaking pertaining to quality management. •
• Evidence of strong reference to supporting literature in reviewing best practice models with significant
synthesis of arguments Evidence of independent research to validate the significance of best practice model in managerial decisionmaking pertaining to quality management. •
• Evidence of excellent reference to supporting literature in reviewing best practice models with significant synthesis of arguments. Review presented is rigours in validating the significance of best practice model in managerial decisionmaking pertaining to quality management.
Review of two best practice risk models in industry
(15 marks)
•
• Lack of evidence of enough use of literature and limited interpretation of the models.
No evidence of critical review of best practice risk models. • Use of some supporting literature with limited interpretation of models and their significance in managerial decisionmaking pertaining to risk management. • Evidence of good reference to supporting literature in reviewing best practice models with good interpretation of model significance in managerial decision- • Evidence of strong reference to supporting literature in reviewing best practice models with significant synthesis of arguments and evidence of independent research •
• Evidence of excellent reference to supporting literature in reviewing best practice models with significant synthesis of arguments. Review presented is rigours in validating the
making pertaining to risk management. to validate the significance of best practice model in managerial decisionmaking pertaining to risk management. significance of best practice model in managerial decisionmaking pertaining risk management.
Clarity of Expression
(20 marks)
•
•
•
•
•
The writing is poor with no logical flow and has grammatical errors. Information is limited, unclear and the depth is not adequately developed.
The idea is a simple restatement of the topic.
Demonstration of a limited sense of purpose or theme Insufficient understanding of the topic. •
•
• The writing is
satisfactory and exhibits majority of grammatically correct sentences that are appropriately punctuated with some spelling or typing errors The writing does not go far enough in expanding key issues/ concepts. The writing requires further information to clarify main arguments. The writing is fluent and coherent with good structure exhibiting grammatically correct sentences that are appropriately punctuated with minor spelling or typing error. •
• The writing is fluent and coherent with very good structure exhibiting grammatically correct sentences that are appropriately punctuated with few spelling or typing error. The writing is used to support the main ideas and convince the reader of the argument who is left in no doubt of the purpose. • The writing is fluent and coherent with excellent structure and presentation exhibiting grammatically correct sentences that are appropriately punctuated with no minor spelling or typing error.
• The writing perceives a sense of the wider
context of the ides
Presentation and referencing
(10 marks)
•
•
•
• The writing shows insufficient application of the recommended style of referencing (APIC Harvard style) The writing shows no in-text citation
In-text citation does to match with citation under Reference list Report is not formatted and presented as per the APIC Assessment •
•
•
The writing shows inconsistent application of the recommended style of referencing (APIC Harvard style) In-text citation match with the citation under
Reference list
Report is formatted and presented as per the APIC Assessment presentation guidelines to some extent. • The writing shows good application of the recommended style of referencing (APIC
Harvard style) with some errors in referencing
• Report is formatted and presented as per the APIC Assessment presentation guidelines to large extent.
•
•
The writing shows very good application of the recommended style of referencing (APIC Harvard style) with few errors in referencing Report is well formatted but not presented exactly as
per the APIC Assessment
presentation guidelines • The writing shows excellent application of the recommended style of referencing (APIC Harvard style) with no error in referencing
• Report is formatted and presented exactly as per the APIC Assessment presentation guidelines.
presentation guidelines