Prepare your risk management action plan

Assignment Help Risk Management
Reference no: EM132210115

Instructions

Step 1: Read the BUS30016 scenario document for background to this assignment task. Careful reading of the scenario is integral to the successful completion of the task.

Step 2: Conduct a risk audit based on the information provided in the scenario.
• Download and complete the Risk register and Risk treatment register template.
• Ensure you complete all sections of the template.

Step 3: Prepare your Risk management action plan.
• Follow the structure outlined below. There are four key sections which comprise of a number of questions and tasks you must complete.
• The plan should be formatted as a business report.

Risk management action plan structure

Introduction (approx. 300 words)
In this section provide a clear and concise overview of the key elements of this assignment.
Section 1: 'Things to do next'
Based on your Risk Register and Risk Treatment Register, list and briefly describe five (5) warehouse risk items, in order of importance. Ensure that you justify the order of your choices.
Questions to answer in this section
• If you were John, what would you write down on the list of ‘Things to do next'?
• Identify a range of logistics and warehouse risk items in the warehouse based on his quick tour of the warehouse and discussion with his staff.
• Prepare a Risk Register and Risk Treatment Register that is included as an appendix that rates these items in order of importance, justifying your decisions according to priority and impact.
• Based on your Risk Register and Risk Treatment Register, list and briefly describe five warehouse risk items, in order of importance based on your brief justification. Then briefly describe how you would mitigate and manage the impact on the operations of Xplorer Mining Solutions.

Section 2: Culture and Risk
Briefly discuss the current culture of Xplorer Mining Solutions, how it relates to risk management and then prepare an action plan that outlines the steps to improve and develop a more positive culture.
Questions to answer in this section
• How would you describe the culture of the warehouse at Xplorer Mining Solutions?
• Provide an overview of what you would do to try and positively influence the culture in terms of risk reduction.
• Outline a sequence of steps you would undertake to initiate changes in the culture, justifying the strategic importance of each step.

Section 3: OH&S and compliance
OH&S plays a vital role in any organisation and Xplorer Mining Solutions is no different, especially with the many hazardous chemicals in the warehouse.
Questions to answer in this section
• Provide an overview of key issues that Xplorer Mining Solutions needs to be aware of to meet their OH&S obligations. Don't just list a series of points from the resources but provide an explanation as to why they are critical for Xplorer Mining Solutions and the importance of adhering to them.
• Detail some brief strategies that Xplorer Mining Solutions can develop and implement to ensure compliance to their OH&S obligations within the warehouse.

Section 4: Business continuity management
A key factor with any risk management framework is the ability of the business to keep operating especially under adverse circumstances or unexpected events. Currently Xplorer Mining Solutions does not have any form of business continuity management plan which is a significant risk issue.
Questions to answer in this section
• Prepare a business continuity management plan in the event that a fire occurs and completely destroys the warehouse.
• Ensure you make a distinction between the initial emergency response and the business continuity management plan.
• In the business continuity management plan, ensure you include issues that relate to the logistics and supply chain of Xplorer Mining Solutions.
Conclusion (approx. 300 words)
In this section provide a brief summary of the key points that relates to all of the sections of your plan.
Appendix
Include your completed Risk register and Risk treatment register template here.

Step 4: Proofread your assignment and get it ready for submission.

Format
You will be required to present your action plan in report format.
Your word count does not include the cover page, table of contents, references or appendices.

Referencing
There is no minimum requirement to the number of references but they must be incorporated as needed in line with academic practice to reflect the quality and relevance of the sources and how well you have incorporated them into your plan. All sources must be appropriately cited and referenced using the Swinburne Harvard style.

Attachment:- Scenario and template.rar

Verified Expert

This paper is includes Risk Register and Risk Treatment Register and five warehouse risk items, in order of importance as per the given case study. The current culture of Xplorer Mining Solutions, how it relates to risk management and then prepare an action plan that outlines the steps to improve and develop a more positive culture and an overview of key issues that Xplorer Mining Solutions needs to be aware of to meet their OH&S obligations is also discussed in this paper. A business continuity management plan in the event that a fire occurs and completely destroys the warehouse is also prepared in this paper.

Reference no: EM132210115

Questions Cloud

The environmental crisis-do you believe in global warming : The Environmental Crisis. Do you believe that we are responsible to take care of our natural resources? Do you believe in "global warming?"
Write a program that has the following programming structure : Write a program that has the following programming structures: a conditional, a loop, a function that you created.
Activity expected time standard deviation of time : Activity Expected Time Standard Deviation of Time Estimate Immediate? Predecessor
Write a program to find a cluster editing solution of size k : Write a program to find a cluster editing solution of size k or less on a undirected, unweighted graph.
Prepare your risk management action plan : Conduct a risk audit based on the information provided - Prepare a business continuity management plan in the event that a fire occurs and completely destroys
How to present each puzzle to an audience : The second video offers a few different lateral thinking puzzles. They're presented as a teaching activity--you'll hear the narrator talking.
Write a program that generates a password based on number : Write a program that generates a password based on the number of digits provided by the user.
HRM technology to create strategic focus : Review an example through research on how a business has used HRM technology to create a strategic focus.
A program to generate 100 random integers between 0 and 9 : Write a program to generate 100 random integers between 0 and 9, and display the count for each number, like how many 2s, and how many 5s, etc.

Reviews

len2210115

1/7/2019 11:21:13 PM

Risk # 1: Priority B No power for more than a day This is an example: you can delete it after reading it or leave for reference 1. Fix generator 2. Buy second generator 3. Investigate better insurance 4. Research exactly how long food keeps for in fridges and freezers without power 5. Simply shut down to cut losses and claim on insurance 6. Set up an agreement with another store 7. Improve fridge insulation 1. 3. 4. 6. 1. = A 3. = A 4. = A 6. = R Jerry Elaine - Take generator in - Contact broker - Talk to manufacturer or industry association?

len2210115

1/7/2019 11:21:05 PM

There is no minimum requirement to the number of references but they must be incorporated as needed in line with academic practice to reflect the quality and relevance of the sources and how well you have incorporated them into your plan. All sources must be appropriately cited and referenced using the Swinburne Harvard style.# 1: No power for more than a day Example: delete after reading or leave as a guide. Power failure for more than one day Loss of all frozen stock, refrigerated food, food and drink cabinets Security system may not operate, staff cannot lock up No lighting to kitchen or elsewhere Could happen anytime, night or day, no notice Air con, exhaust fans and hand dyers will not work No appliances, but stoves will work if lit manually. No hot water Cash register, stock control and EFTPOS etc will not operate

Write a Review

Risk Management Questions & Answers

  A project report on mutual funds

This project report speaks of the core and future aspects of Mutual Funds and the present challenges to cope with.

  Evalaute the theoretical option price

Evalaute the theoretical option price

  Risk and return

Investing in the stock market and Risk-free investment and inflation

  Evaluate the gross profit

Evaluate the gross profit

  Discuss concepts of risk and management

Risk lies at all levels of business activity. There are many different kinds of risks within an management as well as ways to manage risks.

  Determine the average risk premium

Here are stock market & Treasury bill percentage (%) returns between 2006 and 2010: Determine the average risk premium

  Hypothetical healthcare organization ratios

Discuss and explain why one should apply caution when using financial ratios for analyzing a healthcare management's current financial position and future viability.

  Discuss role of risk assessment

The financial information has been dominated currently by stories of financial institutions that have mis-measured risk as part of subprime mortgage crisis.

  Calculate maturity risk premium

The real risk-free rate is 3 percent, & inflation is expected to be 3 percent for the next two years. A 2-year Treasury security yields 6.3 percent.

  Selcting best option for portfolio

Suppose you are planning investing in two stocks to form a portfolio. Assume you do not like risk. Which one of given stock combinations will you select for your portfolio?

  Result of systematic or unsystematic risk

It has been a little over one year since the collapse of Lehman Brothers which was the first major event in the downturn of our stock market & economy.

  Determine risk management

Determine risk management? Discuss the importance of risk management in an organization? How does risk management mitigation create value for an organization?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd