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Manage Risk Essay

2750 words - 11 pages

``Risk analysis
Submission details
Candidate’s name Thilakshi Perera Phone no.
Assessor’s name Tardeesh Kaur Phone no.
Assessment site
Assessment date/s Time/s
The Assessment Task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.
Submit this document with any required evidence attached. See specifications below for details.
Performance objective
In this assessment you are to analyse the risks identified in the case study, to assess likelihood and consequence of risks, evaluate and priorities risks, and determine options for treatment. You are also required to develop an action plan for treatment of ...view middle of the document...

likely to be effective
ii. feasible for the organisation.
2. Develop a risk management plan by completing the table included in this task and attaching it to your report.
3. Communicate the plan to your organisation by submitting your report and the risk management plan to your manager (your assessor) for internal distribution.
When submitting the report and plan, to assist the organisation to properly store and retrieve the report, you need to ensure that:
a. your report is titled ‘Risk analysis and management plan’
b. your report is in order, with the Risk management table attached to the back of your report
c. your report is submitted as required by your organisation (your training provider).
You must provide:
● a completed risk analysis report as outlined above
● a completed risk management table, in the required format.
Your assessor will be looking for:
● evidence that you analysed and identified the risks relevant to the case study, and established suitable plans for managing the risks.
Adjustment for distance-based learners
● No variation of the task is required.
● A follow up interview may be required (at the discretion of the assessor).
● Documentation can be submitted electronically or posted in the mail.

Case Study
The board has reviewed the previous report you developed, and has requested further information for several of the identified risks, including options for reducing the risk levels. These are as follows.
● Banking risk – theft of cash left on premises.
● Manager’s travel risk – physical injury.
● By-law Compliance risk – reputation/brand loss and fines.
Time lines to consider are based on risk priority levels and include the following.
● Pre-settlement – date of legal transfer of the business.
● Opening week – first week of company operations.
● Within 3 months – after the opening week.
● Within 6 months – after the opening week.
Responsibilities for actions include the following.
● Financial, insurance and banking issues – financial controller.
● Legal issues – Goldsmith Partners.
● Expenditure >$5,000 – MacVille board.
● New policy – CEO with MacVille board.
● On-site management, training – store manager.
● Changes to MacVille cafe Queensland operations – CEO.
● External audits – CEO with MacVille board.
Develop a report for the board that examines these risks and describes ways that each can be treated, and forward a copy of your report to your manager to table at the next board meeting.
Further case study information
Hurley’s Cafe
You revise your notes from the meeting with James Mansfield and identify the following points:
● In the context of MacVille’s investment here $4,000 would be considered to be of minor consequence if it were burgled from the closed premises overnight.
Meeting with Ron Langford
You revise your notes from the meeting with Ron Langford and identify the following points.
● He also said that the Council water patrols meant that it is...

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