BSBRSK501 Manage Risk - Assignment Problem

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Reference no: EM132401014

BSBRSK501 Manage Risk, Victoria University, Australia

Assessment Task 1 : Project

Task Summary

For this task you are required to review the risk context of the organization and conduct research; and then develop a briefing report for the CEO and shareholders of an organization.

1. Review the risk context and conduct research.

Review the case study information provided to you to determine the scope of the risk management process required, as well as the company's risk management policy and procedure and information on risk management standards. Make notes for use in your report that address:

• Legislative and regulatory context of the organisation in relation to risk management.

• Identification of internal and external stakeholders with whom you will need to consult to identify potential risks, as well as issues they are likely to raise as part of the risk management process.

• An analysis of the strengths and weaknesses of the company's existing retail approach namely, online and through health food shops.

• Analysis of critical success factors, goals or objectives for the business expansion project.

• Following, this you are required to conduct a PESTLE analysis for NatureCare Products in order to identify key factors that impact on the business environment in which the company operates and their relevance in identifying risks. Make notes for use in your report.

• When you have completed your PESTLE analysis, you will be ready to write an initial report for the CEO as outlined in the next activity.

2. Develop a risk briefing report.

This part of the assessment task requires you to develop an initial report for the CEO about the risk management project and processes and to seek approval to proceed.

Your report should address:

• Introduction, including scope of the risk management process and an outline of the risk management process as per the organisation's policy and procedure, as well as how the organisation's process aligns with the risk management standards as identified in the link provided to you. It must also include any legislative and regulatory context of the organisation in relation to risk management that you have identified in your research.

• PESTLE analysis identifying the key factors that impact on the environment in which NatureCare Products operates and their relevance to the risk management process.

• An analysis of the strengths and weaknesses of the company's existing retail approach namely, online and through health food shops.

• Analysis of critical success factors, goals or objectives for the business expansion project.

When you have completed your report, send it to the CEO (your assessor) via email. In the email you should provide a brief overview of the risk management project and seek approval to proceed with the process.

Your assessor in the role of the CEO will provide you with a written feedback and approval to proceed. Consider any written feedback provided to you by the CEO in the next part of the assessment.

Assessment Task 2 : Role Play

Task Summary

For this task you are required to participate in a meeting to consult on risk management, and then develop a risk management plan.

1 Send an email to the Marketing Manager and the Office Manager inviting them to the meeting with a brief explanation of the purpose of the meeting and the input you would like them to provide; as well as the details of time, date and location (your assessor will provide you with the date and time for this assessment to take place).

2. Chair the risk consultation meeting.

During the meeting, your assessor will be looking to see that you:

• Summarise the situation and your findings from your briefing report to the CEO and shareholders.

• Explain the risk management process.

• Invite participation on risks they have identified and which ones they feel are the greatest.

• Come to an agreement on the five greatest risks to the company and brainstorm treatment options and actions to be taken.

• Communicate effectively by using questioning and listening techniques to encourage other's opinions and clarify your understanding of them.

3. From the risks identified in the consultative meeting, develop your risk management plan for the top five risks. Your risk management plan needs to include:

• An assessment of the likelihood of the risks occurring, as well as the severity of the risk should it occur.

• Identification of at least one suitable treatment measure for each of the five risks; and priority rating (high, medium or low) to show the order in which risks must be treated.

• An evaluation and prioritisation of risks for treatment.

• A risk action plan that sets out for each risk the:
- risk description
- impact of risk
- recommended actions
- resource requirements timelines
- responsibilities
- Monitoring processes.

4. Email your risk management plan to your assessor for approval as the CEO; and once it is approved send an email to the Marketing Manager and the Administrative Manager advising them of the outcome of the meeting; their roles in the plan and how they need to implement these actions and by when.

Assessment Task 3 : Project

Task Summary

For this task you are required to implement a control measure and complete an evaluation.

PART A – IMPLEMENTATION

1. Research training options.

Review the case study information and research a range of potential training options for the customer service representatives. Identify three suitable options.

2. Develop a short report to the CEO (your assessor) outlining your recommended option/s for the training, including a rationale for your recommendation/s. Include the details of each recommended training option, including a summary of the training to be provided and outcomes, location, costs and duration as applicable. Include details of how you will monitor the training and ensure the outcomes will be met. If you have recommended on-the-job options you will need to outline a brief plan for undertaking this form of training.

3. Send your report to the CEO (your assessor) via email with a covering email explaining the purpose of the report and seeking agreement to proceed with your recommended options.

4. Imagine that your report has now been approved; send an email to each of the customer service representatives outlining the arrangements of the training agreed upon (send this to your assessor).

PART B — EVALUATION

1. The next part of this assessment task requires you to review the effectiveness of the implemented treatment by reviewing the following information.

Assume that a staff survey has been sent to the two members of staff completing the training. You are required to review and analyse the completed surveys provided on the next page and send a further short report to the CEO via email. Based on your review and analysis, you should comment on the effectiveness of the training undertaken by the staff members to date and your recommendations for any further actions.

Note that the measure of success of this initiative was identified to be that the staff will have successfully completed training and feel able to step into the new roles. You should therefore also comment on the effectiveness of the measure in this regard. Submit to your assessor.

2. Write an evaluation report about the entire risk management process and how you feel you managed it. Include an evaluation of:

• The research you undertook and sources used.

• The meeting with your colleagues to identify and agree on risks including treatments and actions.

• The development of your risk management plan, monitoring and evaluation processes.

Discuss what you believe you did well, how you may be able to improve next time you manage risk and what you learned from the process. Submit this evaluation to your assessor.

3. Send a screen shot to your assessor of all of the documentation for this project filed and stored in electronic folders neatly labelled and organised to demonstrate that you can manage and maintain project documentation.

Assessment Task 4 : Written Questions/ Case Study

Task Summary

For this task you are required to answer all the questions from Part A and B to demonstrate your knowledge of this unit.

PART A - QUESTIONS

QUESTION 1

What are nsk management standards and what are the key elements of these?

QUESTION 2

For your organisation, describe the legislative and regulatory needs to fulfil risk management.

QUESTION 3

What do organisational policies and procedures for risk management provide?

PART B – CASE STUDY

QUESTION 1

Working with your peers (no more than 2-3 people), discuss the information provided in above case study and assess the risks. Within your discussion, you should determine and document:

• The key priority of the risk management process

• One appropriate risk treatment action.

QUESTION 2

Following on from your discussion in Question t develop an action plan which aims to treat the risk(s).

• Your action plan should include three steps to treat the risk.

• You should use the following template for your plan.

Attachment:- Assignment Details.rar

Reference no: EM132401014

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