BSBRSK501 Manage Risk Task

Task 1

Assessment Instructions

For the case study provided with this Assessment Task, you are required to review risk management processes and determine scope and objectives, taking into account stakeholder input and both internal and external environmental factors affecting the organisation. With the information gathered, you are to identify risks and present this to relevant parties for feedback.

Procedure

For the provided case study, you will assume the role of the risk manager/assessor, and you are required to review the provided Macville Risk Management Policy and complete a written report for your manager (your assessor) that addresses the following steps.

1. Scope – Identify the scope of risk management required in your identified role.
2. Goals – Identify and describe the critical success factors, goals or objectives for areas included in scope.
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.
4. Analysis – Complete a PEST analysis and a SWOT analysis for risks associated with the scenario.
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.
6. 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.

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).

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.

Summarise: In dot-point form, summarise the discussions with your manager.

• This should include any recommendations they made to you.

Develop: a draft of the communication your manager suggested you use for consultation with stakeholders.

• 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.

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).

To be deemed competent you will need to successfully demonstrate the following:

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. This should 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.

Case Study: Table of stakeholders (format)

Task 2

PART A

Assessment Instructions

Using the information gathered in Assessment Task 1 and the case study provided, examine the likelihood and consequences of identified risks, prioritise the risks and determine options for treatment of each risk. Using this information you are required to develop an action plan for implementing risk treatment, document the plan as required, and communicate the risk management plan to relevant parties.

Procedure

For the case study information provided in this assessment and from Assessment Task 1, you need to develop a report for your manager (assessor) with the headings as described below.

1. Likelihood – For each risk, assess the likelihood of the risk occurring.
2. Consequence – For each risk, assess the consequence of the risk occurring.
3. Priorities – Use a risk calculation table to assist in prioritising the risks.
4. Options – For each prioritised risk, outline at least two suitable options for treating the risk.

After you have completed the above steps, you need to:

1. develop a risk management plan by completing the table included in this task and attaching it to your report
2. 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, you need to ensure that:

1. your report is titled ‘Risk analysis and management plan’
2. your report is in order, with the Risk management table attached to the back of your report
3. your report is submitted as required by your organisation (your training provider).

To be deemed competent you will need to successfully demonstrate the following:

You must provide:

• a completed risk analysis report as outlined above
• a completed risk management table, in the required format.

PART B

Assessment Instructions

Review the implementation of the action plan developed in Part A against the case study provided. Then prepare a monitoring report evaluating the risk management process.

Procedure

Review the provided case study information in order to develop a report examining the ongoing implementation of a risk management action plan. Use the following headings.

1. Plan – a clear summary of the initial risk and the plan implemented to manage it.
2. Implementation – a summary of all actions taken to date in attempting to manage identified risks.
3. Outcomes – a clear statement identifying continued and/or reduced risks, with supporting information in tables or graphs where available.
4. Evaluation – a clear analysis of the effectiveness of the risk management plan, by comparing the implementation with the outcomes.

After you have completed the above steps, you need to communicate your evaluation of the risk management plan to your organisation by submitting your report to your manager (your assessor) for internal distribution.

When submitting the report and plan, you need to ensure that:

• your report is to be titled ‘Evaluation of risk management plan’
• your report is submitted as required by your organisation (your training provider).

To be deemed competent you will need to successfully demonstrate the following:

You must provide:

• a completed evaluation report, as outlined above.

Risk management plan