Reference no: EM132266333
Assessment 1
Performance objective
For this task you are required to determine the risk context associated with establishing a new business outlet within the existing business structure. You will be required to review internal and external environment factors, obtain support for activities and liaise with relevant stakeholders to identify risks.
Assessment description
For the MacVille Pty Ltd simulated business scenario provided, you are required to assume the role of Brisbane store Assistant Manager, Ash, who has just been promoted to be Manager of a new store. Ash has been tasked with conducting a risk management analysis of this new venture.
There are three stages to this project: (1) review, (2) analyse and plan, and (3) monitor. This project is divided into three assessment tasks as follows:
For this assessment task, you will need to review the simulated business's risk management processes and determine the scope and objectives, taking into account stakeholders and both internal and external environmental factors affecting the organisation. Once you have gathered this information, you are to identify risks and write a draft report to the CEO. You will meet with the CEO to discuss your report, seek support for your findings, and approval to communicate risk management processes to relevant stakeholders for their feedback and participation.
Procedure
You will assume the role of Ash, Assistant Manager of the Brisbane MacVille café, who has just been promoted to Manager of the new Toowoomba store. In preparation for the new venture, Ash has been tasked with conducting a risk management analysis of this project:
1. Review the provided MacVille simulated business scenario information and documentation provided in the Appendices of this task.
2. Write a report for the CEO (your assessor) that addresses the following:
a. The effectiveness of the MacVille Risk Management Framework in supporting the principles and processes of risk management, set out in the risk management standard AS/NZS ISO 31000:2009. Outline the purpose and key elements of the standard in your discussion.
b. Identify and describe the scope of risk management required in your role.
c. Identify and describe the critical success factors, goals or objectives for areas included in the scope.
d. Identify relevant internal and external stakeholders, their role in the risk management process, and any issues or concerns they have raised. Complete the Table of Stakeholders Template (provided in Appendix 3 of this task) and attach to your report.
e. Complete a PEST analysis and a SWOT analysis to identify risks associated with the scenario. Outline the relevant legislation, regulations and standards (including those at a local level, i.e. Toowoomba Council).
f. Describe the methods of research that you used to complete your PEST and SWOT analysis. For example, how you approached the simulated business information; legislation, regulations, etc. and any other information or research on risk that applies to the scope of your report.
g. Complete the analysis of risk for the scenario by summarising the scenario and identifying a list of risks to the project.
Note: Ensure your report is written in a style appropriate to your stakeholder audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support your summary.
3. Submit your report as per the specifications on the next page. Be sure to keep a copy for your records.
4. After you have developed your report, write an email that is intended for relevant stakeholders (identified in Step 2). Your email should clearly ask stakeholders for input, include a list of risks you have identified and invite them to assist in identifying any additional risks.
5. Send the email to the CEO (your assessor) for review and request a meeting to discuss identified risks and further risk management processes.
6. Meet with the CEO to:
a. discuss your findings, particularly your understanding of the critical success factors and goals
b. explain the MacVille risk management process
c. discuss how you can communicate with stakeholders about the risk management processes in this scenario and invite them to participate in discussions to further identify risks associated with the scenario
d. obtain the CEO's support for ongoing risk management activities
e. ask the CEO for input on additional risks.
Note that the meeting with the CEO (your assessor) should take no longer than 15 minutes.
7. In dot-point form, summarise your discussion with the CEO. This should include any recommendations he/she made to you.
8. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
Assessment 2
Performance objective
For this task you are to analyse the risks you identified in the simulated business scenario to assess the likelihood and consequence of risks, evaluate and prioritise risks, and determine options for treatment. You are also required to develop a risk management action plan for the treatment of risks and communicate it to relevant stakeholders.
Assessment description
For the MacVille Pty Ltd simulated business scenario provided, you are required to assume the role of Brisbane store Assistant Manager, Ash, who has just been promoted to be Manager of a new store. Ash has been tasked with conducting a risk management analysis of this new venture.
There are three stages to this project: (1) review, (2) analyse and plan, and (3) monitor. This project is divided into three assessment tasks as follows:
For this task, you are to use the information you gathered in Assessment Task 1, along with the simulated business information provided, to examine the likelihood and consequence of identified risks, prioritise the risks and determine options for treatment of each risk. Using this information you are required to develop a risk management action plan for implementing risk treatment, document the plan as required, and communicate the risk management plan to relevant parties.
Procedure
Part A
1. Review the MacVille simulated business scenario information and documentation provided in the Appendices of this task and in Assessment Task 1.
2. Develop a report for the CEO (your assessor) that includes the following:
a. For each risk (i.e. the four identified in the scenario for this task), assess the likelihood of the risk occurring.
b. For each risk, assess the consequence of the risk occurring.
c. Develop a risk matrix to assist in prioritising the treatment of the identified risks, including numerical values (e.g. risk matrix in the Student Workbook).
d. Once you have prioritised the risks, for each, outline at least two suitable options for treatment.
e. Include an explanation of the process you used to identify risks and assess likelihood, consequence and priority. Also include an explanation of why the options you have suggested for treating the risks are:
i. likely to be effective
ii. feasible for the organisation.
Note: Ensure your report is written in a style appropriate to your stakeholder audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support your findings and process.
3. Develop an action plan (you may use the Risk Management Action Plan template provided in Appendix 3 of this task) for implementing risk treatment and attach it to your report.
4. Communicate your analysis to the Board of Directors by submitting your risk analysis report, along with your risk management plan, to the CEO (your assessor) for internal distribution.
Part B
1. Implement your risk management treatment of one key risk to your two team members (which your assessor will organise for you), such as decreased brand recognition. This should be done in accordance with the requirements provided to you by the CEO (your assessor). You will need to discuss and agree with your assessor how to provide evidence of your implementation.
Note that the implementation component should take no longer than 10 minutes.
2. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
Assessment 3
Performance objective
For this task you are required to review the implementation of the risk management action plan you developed in Assessment Task 2 and prepare a monitoring report.
Assessment description
For the MacVille Pty Ltd simulated business scenario provided, you are required to assume the role of Brisbane store Assistant Manager, Ash, who has just been promoted to be Manager of a new store. Ash has been tasked with conducting a risk management analysis of this new venture.
There are three stages to this project: (1) review, (2) analyse and plan, and (3) monitor. This project is divided into three assessment tasks as follows:
For this task, you are to review the implementation of the risk management action plan you developed in Assessment Task 2 against the simulated business information provided in this task. Then, you will need to prepare a monitoring report evaluating the outcomes of the action plan and risk management process.
Procedure
1. Review the MacVille simulated business scenario information provided in the Appendix of this task.
2. Develop a report for the CEO (your assessor), which examines the ongoing implementation of the risk management action plan.
a. Ensure you include the following sections in your report:
i. Plan - a clear summary of the initial risk and the plan implemented to manage it.
ii. Implementation - a summary of all actions taken to date in attempting to manage identified risks.
iii. Outcomes - a clear statement identifying continued and/or reduced risks, with supporting information in tables or graphs where available.
iv. Evaluation - a clear analysis of the effectiveness of the risk management plan, including risk assessment (e.g. risk matrix), by comparing the implementation with the outcomes.
Note: Ensure your report is written in a style appropriate to your stakeholder audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support your findings and process.
3. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
Specifications
You must provide:
• a monitoring report.
Your assessor will be looking for:
• reading skills to review, interpret and analyse text-based business information from a range of sources in order to evaluate effectiveness of risk management implementation
• written skills to organise and deliver information to effectively communicate evaluation of activities to stakeholders
• numeracy skills to interpret mathematical data when reviewing and evaluating scenario business information effectiveness of activities
• ability to work independently to analyse scenario information and evaluate effectiveness of activities
• ability to interact with others using appropriate conventions when communicating to, and consulting with, stakeholders
• ability to sequence and schedule activities and manage communication
• ability to analyse relevant information to identify and evaluate effectiveness of activities
• ability to use familiar digital technology to access information, document findings and communicate them to stakeholders.
Note: The word count for each Assessment task is 1000 words
Attachment:- BSBRSK501-Assessments.rar