Gamma Education & Training Student Assessments

BSBRSK501 MANAGE RISK

STUDENT NAME: ………………………………………………………………….

STUDENT ID: …………………………………..

Assessment Task 1.1 Review current organizational processes

Q1:

The risks that are identified are the breaking down of shelves, inhalation of waste materials and accidents due to wet areas created by

watering of plants.

Q2:

The treatments that have been undertaken are:

 Steel shelves have been introduced and supervisors are engaged for continuous monitoring.
 Disposing of waste materials and hazardous warnings has been introduced.
 Storage of mops in all the water prone areas

Q3:

The risk management plan was last updated on May 2002.

Assessment Task 1.2 Risk management standards

Q1:

The Kingfisher Garden Centre does not have any risk management standards (Bromiley et al. 2015)
Assessment Task 1.3 Determine scope for risk management standards

Q1:

Situations

 Political- Prevent using of Chinese goods and concentrate on environmental protection.

 Economic- Making noticeable progress in terms of profit
 Social- Has shown interest towards Australian goods and undertaken various policies for
maintaining social standards.
 Legal- New rules have been introduced and the old ones are being revised.
 Technological- In order to prosper newer technologies are being implemented.
 Policy- The policies need to be updated and improvised as soon as possible.
 Staffing- Monitoring on performances and going away of employees.

Locations

 Head Office in Fairfield, Victoria

 South Morang, Victoria
 Kenmore, Queensland
 Willoughby, New South Wales

Stakeholders

Internal stakeholders
 • National Merchandising Manager
• National contracts coordinator
• Store Managers
• National Manager of finance and legal
• Manager of IT

External stakeholders

• Fresh produce supplier

• Delivery truck company – TMT
• Accountants – ABS financial services
• Alcoholic beverage supplier
• Training company- ‘let’s get certified’
Assessment Task 1.4 Identify stakeholders and their issues

Q1:

Stakeholders Issues

Internal stakeholders

• National Merchandising Manager The workers do not concentrate on the non merchandising factors.
• National contracts coordinator
The coordinator does not supervise its subordinates in doing any job.
• Store Managers
The stores are not maintained properly.
• National Manager of finance and
The works does not follow legal laws and discrepancy in finance is often
legal
noticed.
• Manager of IT
Lack of knowledge about modern technology (McNeil et al. 2015)

External stakeholders Issues

• Fresh produce supplier • Sometimes outdated products are supplied.
• Delivery truck company – • Delay in delivery and lack of delivering vehicles.
TMT • Supply of alcoholic beverages and often not done.
• Alcoholic beverage supplier
Assessment Task 1.5 Review risk context

Q1:

Context Issues to consider Possible effect

Political The policy of making policies If not correctly chosen may result in

serious problems.

Economic The financial expenditures and the gains must be monitored regularly. Discrepancy in profit

Social Proper maintenance of shops and its products as well Consumers may face problems.

Legal Policy renewal Adverse situations could not be maintained

without proper policies.

Technological Introduction of newer technologies Workflow will increase with newer

technologies.

Policy Introduction of newer policies The backdrops can be overcome by new

policies.
Assessment Task 1.6 Review legislation

Q1:

Name Legislation/codes of practice Impact

• Work Health and Includes occupational health and Common individuals

Safety Act
safety
• Laws related to
Workers
privacy
• Laws on To keep private data safe Living world
environment
Environmental safety Manufactures
• Laws related to
To maintain industrial production
industry relations
Assessment Task 1.7 Review strengths and weaknesses of existing arrangements

Q1:

Strength Weakness

• Wellbeing • Prone to risks that are not known

• Always available • Accidents are not taken into consideration
• Good rate of use • Lack of supplier info
• Lack of communication between members
Assessment Task 1.8 Document goals

Q1:

 Commitment from the top management

 Communication

 Culture

 IT

 Organisational structure
Assessment Task 1.9 Obtain support for risk management activities

Q1:

National manager of finance, manager of the state, manager associated with consumer relationship are the managers one need to get

approval from (Cole et al. 2013).

Q2:

• National Manager – Finance

• National Manager
• National sales managers
• National coordinators for customer service
• Garden centre manager
• Food and beverage manager
• Store managers
• Staff of garden centre
• Shop manager
• Customer service staff
• Designers of garden
• Administrative officers of food and beverage
• Administrative officers of garden centre
Assessment Task 1.10 Communicate with relevant parties

Q1:

Risk management step Who will this need to be Communicating activity

communicated to?

Step 1: Risk management Stakeholders Internet, mail

Step 2: Identification of risks Managers In person

Step 3: Analysis of risk and Project Managers Internet, mail, text messages,

priotising risks for treatment telephone

Step 4: Risk treatment Risk control department Verbally in person

Step: Monitor action plan Employees Text messages, mail

ASSESSMENT 1B – SHORT ANSWER QUESTIONS

1. What is the first step in the risk management process?

Risk identification.

2. What would be included in the scope for a risk management plan?

Reaching the ultimate destination within the given time (Dionne, 2013)

3. Which group of people would be considered internal stakeholders?

The head manager, Sales Manager, Store manager and the head of every department are considered (Bolton et al. 2013)

4. Which group of people would be considered external stakeholders?

The third party agents and suppliers

5. When considering the context of a risk management plan, which background information should you investigate?

Employee safety

6. Once you have reviewed your current procedures and standards what is the next step when creating a risk
management plan?

Calculation of the present and the past information.

7. Which goal, for a risk management plan is SMART, clear and achievable?

The goal must be delivery of information that are easily understandable to everyone (Baxter et al. 2013).
8. Time is critical, and you want to meet your goal timelines. Which is the best way to gain support from
stakeholders for a risk management plan?

Proper supervision and equal division of works.

9. What is the best way to invite participation for the risk management process from internal stakeholders?

By providing, those timely rewards to keep them motivated.

ASSESSMENT 2A – PROJECT

Assessment Task 2.1 Consultation plan

Q1:

Consultation plan

Date of plan Name of person completing plan:

Group/people which needs to be Consultation activities: Timeline for consultation activities

consulted: Due date:

Managers Project plan framing 3 weeks

Assessment Task 2.2 Tools and techniques to identify risks

Q1:

Risk identification Who will be involved? Timeline Process

tool/technique

Flowcharts accountant Annual Account record

management
Task 2.4 – Business risk identification

Q1:

 Natural disasters- Flood

 Pandemic- Fever

 Legal-

 Global events- Needs of consumers

 Technology- Older technology in use

 Regulatory and government policy changes-

 Environmental changes

 Work, health and safety

 Property and equipment

 Security

 Staffing

 Suppliers

 Market
 Utilities and services
 ASSESSMENT 2A

Assessment Task 2.4: Business risk identification template

Date of assessment: Name of person completing assessment:

Department/work area/task assessed: Kingfisher Garden Centre

Business risks identified Potential harm Category of risk 1. Level of Location Worst- Who was

or Political risk case consulted

consequences Econom scenario ?

ic Social

Legal

Technol

ogy

Risk priority
Likelihood
Procedu
Severity
re

Lack of cups and H H 3 Warehouse Consumers facing Suppliers

Supplier for all
other Supplier problems problems associated with
recyclable items goes
consumables ready
out of service for consumers the business

Unable to produce Property and H H 1 Manufacturing unit Consumers facing Technical

Juicers out of work juice for equipment
consumers problems department

Food spoils and they H H 2 Industrial unit Increased costs Engineers and

Industrial fridge goes will be unable to feed Property and and consumers mechanics

out of order consumers– waste of equipment facing problems

food

Investigation H H 1 Production unit Work rate is Health and

Staff members get of the matter
and providing Work health and hindered Safety unit
severely injured while compensation
to the affected safety
preparing food

Business risks identified Potential harm Category of risk 1. Level of Location Worst- Who was

or Political risk case consulted

consequences Econom
Risk priority scenario ?
Likelihood

ic Social
Severity

Legal
 Technol

ogy

Procedu

re

Damage to Property and H H 1 Stores department Inventory Management

Store catches fire the affected equipment
store destruction

Both fresh food suppliers Lack of suppliers H H 2 Inventory department Decrease in New suppliers of
goes out of order Supplier
amount of stock fresh food

and increased cost

Water from the tap H H 2 Water management Problem in Engineers

Drought and new
cannot be used to Regulatory change department preparing food
regulations limiting
prepare and clean
the use of water
products
Customer is injured, H H 1 Organisation outlet More health Health and

A customer is injured Worksafe Work, health and hazards safety

while sitting at a investigation ensues safety and legal department

booth or table in the and possible legal

action
store

No one will be able to H H 2 Human Resource Delay in work Human Resource

Something happens to manage the business, or department performance department

John or Danielle and complete the financial Staffing

they are unable to work activities like paying

staff or

ordering stock
Shop and stock is H H 1 Store outlet Loss of stock and Damage control

Storm surge from nearby damaged, is unusable Natural disaster damage of shop and maintenance

beach causes flooding and will need to be department

repaired
Business risks identified Potential harm Category of risk 1. Level of Location Worst- Who was

or Political risk case consulted

consequences Econom Risk priority scenario ?

Likelihood

ic Social
Severity

Legal
 Technol

ogy

Procedu

re

The juice bar will H H 1 Nearby location No customer will Research and

A new juice bar opens lose customers as it come to store development

up nearby currently has a Market department

monopoly on
customers
Juice bar will be H H 2 Organisation premises Legal expenses Legal authority
Customer is injured,
fined, have to pay will increase of the
Worksafe investigation
legal expenses and Legal leading to organisation
ensues and possible
potentially go out of insolvency
legal action
business
ASSESSMENT 2B – SHORT ANSWER QUESTIONS

1. The workers and the suppliers of the juice must be considered

2. Accounts, Risk of suppliers and Consumer service

3. The information of both the current and previous situations.

4. Juice suppliers and delivery persons are considered as external stakeholders (Kardes et al. 2013)

5. Lack of raw materials and increase in the manufacturing costs of the products
Assessment 3 Project

3.1 Assess the likelihood of risks occurring

Q1:

Likelihood of risk occurring

1. Members leave the organization High

2. Fire break out Medium

3. Power issues Low

4. Global financial crisis Medium

5. Problem of water High

6. Problem in maintaining security labels Medium

7. Inefficient alert system High

8. Absenteeism of staffs Medium

3.2. Severity of risks

Q1:

Severity of Risks
 Members leave the organization High

Fire break out Medium

Power issues Low

Global financial crisis Medium

Problem of water High

Problem in maintaining security labels Medium

Inefficient alert system High

Absenteeism of staffs Medium

ASSESSMENT 3

Evaluation and prioritizing risk for treatment

Disadvantages Level of Risk Favorable to occur

Industrial breakdown 4 High 3

Issues regarding power 4 Very high 4

shortage
 Destruction by the occurrence 4 High 3

of flood

Shortage of workers 3 Low 1

Destructions of food due to 3 Medium 2

contamination through food

Emergencies caused due to fire 3 Very high 4

Economic shortage 2 Low 1

Injury to the employees 2 Medium 2

Lack of supplier 2 Very high 4

Inauguration of new juice 1 Medium 2

shops

Stakeholders

Q1:

List of stakeholders Type

Register of cash and the management of stock External

 General manager Internal

Finance and legal manager Internal

Contractors External

Human resource manager Internal

Operations manager Internal

Supplier External

Manager of legal procedures Internal

Q2:

The area of risk management will be dealt by the stake holders only after the formation of a certain plan. The discussion will produce

the final verdict for the matter.

ASSESSMENT 4

A.

 The installation of security is the best way.

Who must you communicate risk treatments to and ways that you might communicate them?

The risk treatment must be communicated with the several posts of personalities spread around in all the sectors of work. This people

include the external people such as contractors, suppliers to internal ones such as managers

Ways to communicate them

There are several ways to communicate with them. Several training sessions along with interactive sessions and seminars may help the

cause

What is ‘implementing treatments’?

It basically refers to the efficient execution of a devised strategy.

How can you do this?

Keen observations along with analysis of the data are the finest way to do this.

Do not forget to update the plan!

The updated file must be stored from time to time for the company benefits and future prospects (Teller and Kock, 2013).
ASSESSMENT 5

John’s Juices business risk identification template

Risks Probable harm PESTE Place Worst Consult

to the L possibili ant

company ty

Not able to provide Consumers are Suppliers

Supplier shortage
necessary things
for the customer Problem with the Store house affected
satisfaction
suppliers

No production of Equipment Manufacturing product Consumers are Tech support

Issue with juicers
quality juices malfunction
affected

Investigation Healthcare
Injury of workers
regarding the
injury Health and Production Efficiency is
leading to
bad name of safety issues reduced
the company
Damage to Property Store Stock and others Higher
Fire outrage
the outlet issue
will be damaged authorities
 Unable to use tap water Water management Hampering the Engineering
Water shortage
Peripherals making of food department

Legal action Store Health and safety Healthcare

Injury of consumer Healthcare and issue

legal

department

Shop will be damaged Store Huge losses Damage

Flood and storm Natural calamity control and

damages other

peripheral

departments

for helping

recover the loss

Loss of Somewhere near the Loss of valuable Research and

valuable
Inauguration of new customer outlet customers. development as
thus leading
juice outlets to the loss The market well as other
of
generation competition and the departments
of surplus
revenue in rivalry in business. for increased
the favour
 of the sale of the
outlet. This
will result produced juice.
in huge
losses to the
company.
There will be some The branding Legal
Legal procedures for amount of
expenditures owing to Store premise and the good department of
customer injury the injury of the
customer. Legal name of the the company.

company will be

affected a lot.

Risk matrix

Disadvantages Level of Risk Favorable to occur

Industrial breakdown 4 High 3

Issues regarding power 4 Very high 4

shortage

Destruction by the occurrence 4 High 3

of flood
 Shortage of workers 3 Low 1

Destructions of food due to 3 Medium 2

contamination through food

Emergencies caused due to fire 3 Very high 4

Economic shortage 2 Low 1

Injury to the employees 2 Medium 2

Lack of supplier 2 Very high 4

Inauguration of new juice 1 Medium 2

shops
Assessment Task 1B: Question

Q1:

Risks Solutions

Opening of New juice bar Branding must be focused on to attract the consumers

Fire outrage Fire management will have to step in and take action

Flood and damages Strategies must be devised such that no major damage

occurs

Shortage of water Tanks and reservoirs must be installed for efficient water

supply.

Issue with the juicers Technical support must be provided for such a situation

Supplier absentee Healthy relation with the suppliers help in developing the

supply chain
 Injury of worker First aid should be provided with proper focus on the health

of the worker

Q2:

Help needed Constraints Supervision

Risk Steps taken
Person Time
evaluation
Responsibl factor

Management Abraham 2nd Raising money Economic problem Collection and

Fire outrage
team of fire February evaluation of data

control
Suppliers Collection of Bob 10th phone Business constraints Bonding with the
stopped
supplying data February suppliers

New reservoirs Simon 1st Water reservation Workers not present in office Analysis of water
Shortage
must be March authority and degradation of food. sample
of water
installed

Consumer must Christian 10th Health and safety Lack of concentration of Customer

Injury be provided March department customer satisfaction must be

cause to with immediate looked upon.

consumer health care

Fault with Back up John Continu Production department Deterioration in the product Testing of each

juicers machines ed quality machine must be

done

Q3:

The communication can be done by John through several meetings with higher level authorities. The managers and other employees

may be able to help John as well. The contractors, suppliers may also be of use in this case. The conduction of effective sessions and

seminars may be helpful for this (Soin and Collier, 2013).

Q4:

The health of the workers ensures the work environment and safe running of the company. He must introduce new machines and water

equipments along with safety procedures to deal with any kind of risks (Yun et al. 2013).

Q5:

Complete the table:

 Rules Significance

WHS Human relation issues and others

Industrial relations law The issue of recovery from incidence is protected by it

Privacy laws Data safety is maintained by this law

Environmental law The environmental causes are dealt by this law

 Assessment Task 2 – Risk management standards

Q1:

The treatment of all types and kinds of problems and risks are done by this and the solution is devised.

Q2:

The risk management process can be stated as follows:

 Learning techniques to avoid problems

 Altering the results

 Interacting with people to share the risks

 Effective decision making (Edward and Burns, 2015).

 Assessment Task 3 – A risk management policy

Q1: Who is the company/organisation? What is included in the scope of this risk management plan?

The esteemed organization is Australian Catholic Organization (ACU)

Opportunities:

 Making the employees realize their due

 Maintenance of health and safety

Q2: What is included in their risk management model?

 Identification

 Strategies to remove the necessary problems

 Efficient observation

 Keeping records

Q3: How are risks identified and analysed according to this plan?

The plan is meant to analyze the kind of risks that can cause hindrance to the natural flow of work and put constraints in the work

efficiency of the firm (Oke, 2015).

Q4: How are risks monitored and reported on?

 The supervision to any kind of risk is necessary for the further analysis and discussion leading to the company’s welfare.

Q5: Who is responsible for each part of the risk management process?

The main responsibility is on the audit and risk management committee for the said job. The next department will be the members of

executives are senior in the company followed by the documentation done by the planning committee. The managers will be given

sufficient training to handle the risky situations (Robertson, 2017).

Q6: When will this plan be reviewed?

A span of 6 years or more is allotted for the further review and analysis.

Q7: What is the process used to organize and store risk management documentation? If this is not detailed, what do you

think would be a good method for this?

The analysis of all the data are efficiently carried out by the management system for documents (Jahanshahi and Brem, 2017).
 ASSESSMENT 6

Assessment Task 4.1 Risk treatment template

Q1:

Disadvantages Probable solution Favorable to occur

Industrial breakdown Security 4*3= 12

Issues regarding power Engaging in power fix 4*4= 16

shortage solutions

Shortage of workers Strategies must be devised 3*1=3

Emergencies caused due to fire Management team must step in 4*3= 12

Economic shortage Efficient branding may help 2*1=2

Security systems Devising new methods 2*2=4

Lack of supplier Strengthen the correlation with 2*4=8

the suppliers

Inauguration of new juice Competition must be put 2*1=2

shops forward
 Assessment Task 4.2 Risk treatment action plan

Q1:

Solution Necessary

to risk steps Person Time Help needed Constraints Supervision

responsible factor

Security Review for risk Abraham 2nd Internet Problems regarding economy Any one of the

management February diverse options

Alarm Review for risk Bob 10th Phone Business constraints Barcodes must be

management February checked

Installation of Review for risk Simon 1st Equipments of security Workers being absent Efficient Checking

tags management March

Issues Review for risk Christian Continu Equipments of security Plants not having tags Efficient Checking

regarding management ed

stock arrival
 Assessment Task 4.3 Risk treatment communication plan

Q1:

Stakeholders
Solution to Risk Interaction Date
interaction

groups

Abhraham Internet 2nd February

Security

Bob Phone 10th February

Alarm

Simon Equipments of security 1st March

Installation of tags

Christian Equipments of security Continued

Issues regarding stock

arrival

Risk treatment monitoring template

Q1:

Subject Frequency Supervisor Report submission

 Security Review for risk Workers Daily

management

Alarm Review for risk workers Daily

management

Adjusting tags Review for risk Department of control Daily

management

Issues for the arrival of Review for risk Management of inventory Daily

stock management

Q1:

Probable problems Solutions

Inappropriate consultation with stakeholders Managers should take action
Inappropriate risk register HR must jump in to take steps
Incomplete work of the anti flood canal Raising of appropriate money
Incompetence of risk evaluation team Members must be interrogated

Risk management review

Q1:
 Document Storage Person

accessing

Register Secured facility Stakeholders

Template for Secured facility Managers

identification

Plan for Secured facility Stakeholders

interaction

Template for Secured facility Risk Evaluation

management team

Q2:

Updating the files by a certain period of time is the most necessary thing of all. The records must be preserved with the names and

dates on it by which they can be identified later on

Q3:

The level of risks will determine the amount of focus the company gives on it. The risks will be analyzed based on the hierarchy of the

risks planned by the company. The process will be analyzed by first devising an effective strategy for breaking down the risk followed

by the plan for resisting the risk. The last stage will be the analysis and evaluation (Rezapouraghdam et al. 2018).
References

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