Reference no: EM131480773 , Length: word count:3000

Procedures and Specifications of the Assessment

The candidate must demonstrate the ability, knowledge and skills to manage risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting.

The candidate is to write and present a report on the risk management relating to the case study in this assessment. The full report should address the risks and potential risks in the workplace evaluation of all components within the marketing mix and marketing performance. The report is to be presented to the class.

The report and the presentation should consider the key characteristics of the product, the promotion methods and each component of the adjusted marketing mix. The report needs to evaluate the contribution made towards the organisation's marketing objectives, strategies and desired positioning.

You must provide:
o a written report
o Structure of the report must consist:
o title of report (concise heading indicating what the report is about)
o your report is titled ‘Risk review'
o your report is in order, with attachments on the back of your report as follows
o it includes notes from meeting with your manager
o it includes draft communication
o your report is submitted as required by your organisation (your training provider).
o all relevant workplace documentation to support your research(to be attached as appendices where applicable)
Your assessor will be looking for a report that:
o addresses each point of the procedure described above
o establishes the risks and potential risk within the organisation
o evaluates each component of risk.
o Determine scope of risk management processes
Candidates must demonstrate their knowledge of:
o Outline the purpose and key elements of current risk management standards
o outline the legislative and regulatory context of the organisation in relation to risk management
o outline organisational policies, procedures and processes for risk management.

Task A - Risk Review Report

For the provided case study, you will assume the role of the risk manager/assessor.

1. Review the provided MacVille Risk Management Policy and Risk Management Strategy and complete a written report for your manager (your assessor) that addresses the following steps.
a. Scope -Identify the scope of risk management required in your identified role.
b. Goals - Identify and describe the critical success factors, goals or objectives for areas included in scope.
c. Stakeholders -Identify internal and external stakeholders, their role in the process, and any issues or concerns they have. Present this using the table format provided.
d. Analysis -Complete a PEST analysis and a SWOT analysis for risks associated with the scenario. Include reference to relevant legislation.
e. Research - Review and summarise the research information provided in the case study, as well as any literature available that is relevant to this scenario.
f. Describe - Complete the analysis of risk for the scenario by summarising the scenario and associated risks, accompanied by checklists, diagrams or flowcharts that support the summary.

2. After you have completed the above steps, you need to meet with your manager and discuss the draft report you have developed, especially your understanding of the critical success factors and goals (you should check that your manager agrees with your findings).

3. As part of your discussions, you also need to discuss and identify 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.
a. Summarise: In dot-point form, summarise the discussions with your manager.
i. This should include any recommendations they made to you.
b. Develop:a draft of the communication your manager suggested you use for consultation with a stakeholder or particular group of stakeholders.
i. For example, if stakeholders desire a phone call, you should include a draft script of information that you need to share with stakeholders.
ii. Whatever the form of communication, it must clearly ask stakeholders for input, and invite them to assist in the identification of risk for this scenario.
When submitting the report and accompanying documents, you need to ensure that:
- your report is titled ‘Risk review'
- your report is in order, with attachments on the back of your report as follows
- it includes notes from meeting with your manager
- it includes draft communication
- your report is submitted as required by your organisation (your training provider).
Specifications
You must provide:
- a completed report as outlined above in steps 1-6, using the headings provided for each step
- summary notes from your meeting with your manager
? summarise in dot-point form the discussions with your manager and include any recommendations they made to you
- a draft communication to be used with stakeholders
? develop a draft of the communication your manager suggested you use for consultation with stakeholders
? i.e. if they suggested a phone call, you should include a draft script of information that you need to share with stakeholders
? whatever the form of communication, it must clearly ask stakeholders for input, and invite them to assist in the identification of risk for this scenario.
Your assessor will be looking for:
- evidence that you analysed and identified the needs of the case study and have clearly reflected these in the risk report.

Case Study: Business plan (excerpt)

MacVille business plan FY 2011/12

Case Study: Scenario

As part of their overall strategy in the Australian beverage market, MacVille Pty Ltd have developed a chain of cafes in the Central Business District (CBD) of Brisbane, Queensland and the CBD of Sydney, NSW. The board of directors have made the decision to expand their operations in Queensland with the purchase and re-branding of the existing Hurley's cafe in Toowoomba, 130km west of Brisbane.

You are currently the assistant manager of their flagship storein Queen Street, Brisbane, and have been given the opportunity to manage the new store in Toowoomba. The CEO for MacVille's cafes in Queensland is Paula Kinski.

You are a member of the Finance, Audit and Risk Management (FARM) Committee described in the MacVille Risk Management Policy.
Paula has assigned you the task of managing the risks involved with the operational aspects of this take-over. A copy of her email is attached.

Procedure: Development of a Risk Management Profile
The following outlines the process for developing a risk management profile.
1. Establish the context
- Define and identify the environment, characteristics and stakeholders, their goals and objectives, and the scope of the specific risk management process.
- Develop criteria against which risks are evaluated and identify the structure for risk management.
2. Identify and describe risks
- Risks are best identified through a collaborative approach involving a cross section of stakeholders.
- All conceivable risks must be considered. Ensure any certainties are identified as problems and addressed in the risk management profile.
3. Conduct current risk analysis
- An analysis of the risks is conducted to determine their causes, and estimate their probability and consequences. This analysis provides the basis for working on the ‘right' risks.
4. Conduct risk evaluation
- Risks are considered and prioritised according to their potential impact, and each risk is assessed to determine its level of acceptability.
5. Develop and implement proposed risk treatments
- Risk treatments are developed to cost-effectively reduce, contain and control risk.
- Formal risk management reporting mechanisms are defined and documented.
- Categorise the risk likelihood.
6. Monitor, report, update and manage risks
- As risks change constantly, the risk profile is continuously monitored, reviewed and updated by management. New risks may be identified as more information becomes available and existing risks may be eliminated through the effectiveness of the risk treatments/actions. Record risks identified through regular audit on the risk audit log. Record risk management activities on the risk management register.

1. Review the provided MacVille Risk Management Policy and Risk Management Strategy and complete a written report for your manager (your assessor) that addresses the following steps.
1.1 Identify the scope of risk management required in your identified role.

1.1.1 Impact on human resource management
1.1.2 Financial operations
1.1.3 WHS
1.1.4 Supply chain
1.1.5 Local governance
1.1.6 Overall compliance issues
1.2 Goals - Identify and describe the critical success factors, goals or objectives for areas included in scope.

1.3 Stakeholders - Identify internal and external stakeholders, their role in the process, and any issues or concerns they have. Present this using the table format provided.
1.4 Analysis - Complete a PEST analysis and a SWOT analysis for risks associated with the scenario. Include reference to relevant legislation.

1.5 Research - Review and summarise the research information provided in the case study, as well as any literature available that is relevant to this scenario.

1.6 Describe - Complete the analysis of risk for the scenario by summarizing the scenario and associated risks, accompanied by checklists, diagrams or flowcharts that support the summary.

2 After you have completed the above steps, you need to meet with your manager and discuss the draft report you have developed, especially your understanding of the critical success factors and goals (you should check that your manager agrees with your findings).

2.1 Commitment and support from top management
2.2 Communication
2.3 Culture
2.4 Organization structure
2.5 Trust
2.6 Information technology
2.7 Training

3 a. Summarise: In dot-point form, summarise the discussions with your manager.
i. This should include any recommendations they made to you.

1. Scope of risk management
2. Goals and objectives
3. Stakeholders analysis
4. PEST analysis
5. SWOT analysis
6. Case review
7. Risk analysis
8. Critical Success Factors

3 b. Develop: a draft of the communication your manager suggested you use for consultation with a stakeholder or particular group of stakeholders.

Attachment:- template.rar