501b Manage Risk Essay

5209 words - 21 pages

Assessment Task 1
Report on risks

Student guidelines
The Assessment Task is due on the date specified by your trainer/assessor. No variation to the assessment is permissible.
You must read the assessment in full and understand what the assessment is asking of you, prior to completing the task.  The task must be answered in full, addressing all criteria as identified in the assessment and attaching any additional required evidence.
All answers must be completed correctly to be deemed satisfactory.
There is an opportunity for you to re-attempt this assessment if required, within the unit scheduled timetable.  All task requirements must be completed satisfactorily for you to be ...view middle of the document...

Once you have gathered this information, you are to identify risks and write a draft report to the CEO. You will meet with the CEO to discuss your report, seek support for your findings, and approval to communicate risk management processes to relevant stakeholders for their feedback and participation.
Task
You will assume the role of Ash, Assistant Manager of the Brisbane MacVille café, who has just been promoted to Manager of the new Toowoomba store. In preparation for the new venture, Ash has been tasked with conducting a risk management analysis of this project:
Excerpt of email from CEO Paula KinskiFrom: CEO – P. KinskiTo: Assistant Manager – Queen Street storeRe: New Toowoomba storeCongratulations on your new appointment. Prior to taking up your position as Manager of our new Toowoomba store, located in Ruthven Street, the Board of Directors has asked that the risks in this project be appropriately managed. I want you to undertake this task as it will give you significant insight into the store’s operations, it will ensure a smooth transition for Hurley’s Café staff into the MacVille family and will encourage you to give ongoing support for our risk management initiatives.I would like you to approach this task in three stages and meet with me at the end of each phase to review your work and discuss your plans for the subsequent phases. The three stages in this risk management task will include: 1. Review. 2. Analyse and plan. 3. Monitor. * …Once I have received your risk review report, we will need to discuss the steps that you will take in the risk management process.RegardsP. KinskiCEO MacVille Cafés (Qld) |
1. Review the provided MacVille simulated business scenario information and documentation provided in the Appendices of this task.
2. Write a report for the CEO (your assessor) that addresses the following:
a. The effectiveness of the MacVille Risk Management Framework in supporting the principles and processes of risk management, set out in the risk management standard AS/NZS ISO 31000:2009. Outline the purpose and key elements of the standard in your discussion.
b. Identify and describe the scope of risk management required in your role.
c. Identify and describe the critical success factors, goals or objectives for areas included in the scope.
d. Identify relevant internal and external stakeholders, their role in the risk management process, and any issues or concerns they have raised. Complete the Table of Stakeholders Template (provided in Appendix 3 of this task) and attach to your report.
e. Complete a PEST analysis and a SWOT analysis to identify risks associated with the scenario. Outline the relevant legislation, regulations and standards (including those at a local level, i.e. Toowoomba Council).
f. Describe the methods of research that you used to complete your PEST and SWOT analysis. For example, how you approached the simulated business information;...

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