Step 1: Begin by researching online material related to the failed WATERBANK project in Perth, then complete the tasks that follow. This is not a group assignment. It is an individual assignment to be completed by yourself.

Original Project LINKLinks to an external site.

Lendlease is moving ahead with plans for its $1.3-billion Waterbank urban regeneration project on the edge of the Perth CBD, next to the Swan River. The 6ha Waterbank site will ultimately be home to about 1300 residential units and about 150 affordable housing units, as well as the office space and 2500sq m of retail and community uses. Lendlease currently has two residential towers approved at Waterbank and has plans in front of council for an $85-million, six-level, 13,600sq m, commercial building to be called The Campus. As many as 4ha of the site will become public space along the riverside. Status: Approved Key facts: The project has been officially underway since 2011 The Waterbank site was reclaimed from the water in the 1950s The masterplanned project is tipped for completion in 2029

FAILURE ANNOUNCEMENT: WATERBANK - Development Update LINKLinks to an external site.

Lendlease and DevelopmentWA have reached the decision not to proceed with the Waterbank development. DevelopmentWA will now investigate alternative options to develop this site. For further information visit DevelopmentWA's Riverside project pageLinks to an external site..

Step 2: You are required to develop a report about project risk management as specified below. It should be constructed using material available online and any other information that you think is relevant. Project Management theory and sustainability-related risks must be included to support your analysis, and reference must be made to project risk within the PMBOK 7 framework. The case study on the project above provides the starting point of your research into understanding some of the causal issues as to why the project failed, and what risks could/should have been identified and treated to minimise the possibility of project failure occurring. This is essentially a retrospective and reflective analysis of the failed Waterbank project.