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Assignment
This course is examined by individual assignment. The assignment consists of one
question, weighted at 100%. There are two options available, and you should answer only
one of the options. The word limit is 3,000 words, including tables, figures, and diagrams,
and excluding appendices, footnotes, and references.

Tasks
Option 1: Construct a case study from professional experience
Prepare a report critically analysing a real-life professional experience and/or case related
to unexpected event occurring at the project (e.g., a major ESG, reputational, compliance
failing, a large cost increase or delay, or a major benefits shortfall). Using the frameworks
and theories covered in this module on major programme risk: How do you suggest to
deal with this unexpected event – possibly in contrast to how the major programme dealt
with it? What do you suggest the major programme does to prevent future unexpected
events? Why?
Support your answer with evidence drawn from the literature and material presented in
the course and from additional sources. Ensure that your case analysis is critical and
linked to theory, and that you use a range of literature wider than those authored by the
module contributors. You may centre your assignment on one or more of the following
issues (but are not limited to these):

1. The nature of risk in major programmes
   1.1. Success and Failure
   1.2. Cost overruns, schedule overruns, benefit shortfalls
2. Front-end considerations of major programme risk
   2.1. Predict & provide for risk
   2.2. Incentive alignment and principal-agent relationships
   2.3. Establishing good risk management and enterprise risk management
   2.4. Risk identification
3. Execution-related considerations of major programme risk, relating to
   3.1. On-going risk management practices and routines
   3.2. Project turnarounds
   3.3. Managing Black Swans
   3.4. Managing the human side of transformations

Option 2: Discuss the following statement
The ISO 31000:2009 introduced a new definition of risk: “Effect of uncertainty on
objectives”. Risk, previously, was defined as the potential for unwanted negative
consequences of an event or activity and measured by likelihood and severity. The ISO
31000 definition of risk was a major step towards improving risk management of major
programmes. Critically discuss.

Support your answer with evidence drawn from the literature and material presented
in the course and from additional sources. Illustrate with data and examples. Ensure
that you use a range of literature wider than those authored by the module
contributors.

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