Manage Risk Essay

936 words - 4 pages

Monitoring report
Submission details
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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
For this assessment you are required to review the implementation of the action plan developed in Assessment Task 2 and prepare a monitoring report.
Assessment description
Review the implementation of the action plan developed in Assessment Task 2 against the case study provided. Then ...view middle of the document...

Your assessor will be looking for:
● evidence that you analysed and evaluated the case study information against the established action plan.
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: Implementation information
In accordance with the risk management plan, an external audit was completed and presented six months later to the board. The audit investigated the status of the planned actions on the risks identified.
A summary of the findings is as follows
The financial controller had taken out $5,000 on insurance cover for cash held on the premises overnight from the opening week as planned, but the insurance premium was $2,500 per year and which is considered excessive by the financial controller.
The company bank account that was planned to open in the first week was opened about 4 weeks after opening at the bank two shops down the street, but it is not MacVille’s regular bank and there are difficulties with getting the same level of service that the stores receive in Brisbane.
The teleconferencing system planned for 6 months after settlement, has not yet been installed due in part to the delay in the Federal Government’s National Broadband Network rollout.
The weekly management meetings are finishing close to 3:00pm as planned but sometimes the manager has to stay on at the request of the head office team. The manager has not yet been issued with an excusal letter by the CEO as agreed upon and feels that they do not have the authority to just walk out at 3:00pm. The assistant management training has been shifted to the mornings allowing the manager to leave before 1:00 pm as planned.
The...

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