Business plan and budget risk management reviews

2. For two current risk management international standards, explain what the purpose of the standard is and its key elements.

3. Identify five legislative acts that our organisation must be aware of to ensure that legal risks are minimalised.

Make risk decisions at the appropriate level
Accept the risks if the benefits outweigh the costs

Risk management standards are a set of strategic plans that begin with the organization's goals and objectives and identify risks and promote risk mitigation through best practices. Risk management standards are very important in risk management as they help to effectively implement a risk management system. The standards included in risk management provide international logistics that include specific risk management and provide best practices for managing such risks. These standards only apply after understanding the nature of risk and its impact on the organization (Rihar and et al., 2019). The key elements of risk management standards include monthly reports of various policies and procedures, business plan and budget risk management reviews, and external audits. All of these elements face strategic and business risks that will help to understand the current position of the organization and help to make quick decisions.

3. Five legislative acts that our organization must be aware of to ensure that legal risks minimalized

is relevant Australian Legislation related to Risk?.

Q.2.

Access the Koala Corporation Risk Assessment Matrix from the Koala Corporation website
Access the Koala Corporation Risk Management Register, that you completed in the previous task

Document the date when you determined the risk rating for each risk on the Risk Management Register

Documents are available at: http://lms.frontiereducation.edu.au/koala

If the trainees did not understand the trainers, then the purpose of training would not be achieved. It will have a huge loss in time, money of the trainer as well as trainees

High

The session should be prepared where both trainer and trainees could interact with each other. Doing this will helps the trainer to know what trainees is not understanding as well as trainees could ask what they have not understood.

2. Not available of all the training equipment

Sometimes, all the equipment may not be available. Due to this trainer could not provide effective training.

High

3. Safety issues

In training different equipments are used. Sometimes while doing training, equipment may damage, fall which may threaten the safety of both trainer and trainees.

High

TRAINERS COMMENT : Comment:

Incorrect. Please refer to the Risk Management Register and

Once you have all your documentation you are to determine and select an appropriate treatment/mitigation for each identified risk by:

Remember that treatment/mitigation must be specific to each individual risk.

Specify who will be responsible for implementing the action
Specify when the action needs to be completed by

Action plan

Action	Responsibility	Date	Status
Provide every trainer with a hardcopy which provides an overview of what will teach in training	Trainer	6/20/2020	In progress
Enlist all the equipment and give it to the concerned members.	Trainer	6/30/2020	Complete
will check beforehand all the equipment to control the human damage.	Supervisor	7/10/2020	In progress

TRANINERS COMMENT

Student must develop an Action Plan using the given template.

Student must provide at least one action for each treatment/mitigation strategy for each risk where they have:

The response must also include the completed Risk management Roster with the following columns now complete for the first 3 rows

Risk Id (Completed previous task)
Control and mitigation measures

Q.4.

§ Second action has been completed successfully

§ Third action is behind on schedule by two weeks

Abby Thompson

Question text

Specify the subject
Specify that the Action Plan is attached

From: Operations Consultant

Subject: About the action plan

With best regards,

Operations Consultant