Reference no: EM132014101

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.

Assessment Instructions

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, such as decreased brand recognition, 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.
Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.

Key Requirements

You must:

- submit a risk analysis report, including a risk matrix
- submit a completed risk management action plan
- Implement one risk treatment and submit evidence as agreed with your assessor.

Your assessor will be looking for evidence of:

- reading skills to gather, review, interpret and analyse text-based business information from a range of sources in order to evaluate risk
- written skills to organise and deliver information to effectively communicate risk management analysis and plan to a range of stakeholders
- numeracy skills to interpret mathematical data when reviewing and analysing scenario b usiness information and evaluating risks and treatment options
- ability to work independently to evaluate risks and make decisions about treatment options

- 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 identifyand evaluate treatment options
- Ability to use familiar digital technology to access information, document findings and communicate them to stakeholders.

Attachment:- Assignment and Template.rar