Академический Документы
Профессиональный Документы
Культура Документы
Report on risks
Su*mission details
Student+s Studen
name t no,
Assessor+s
name
Assessment
site
Assessment
date#s
The assessment
assessment task is due on the date specifed by your assessor
assessor.. Any
changes to this arrangement must be approved by your assessor in
writing.
Submit this document with any required
required evidence attached. See
specifcations below or details.
'er(orman!e o*-e!tive
For this task you are required to decide the dangers/risks associated with
opening up a new business branch within the eisting business
organi!ation. They will be required to look at all the internal and eternal
reasons/ risks and discuss will all the important people to put together a
list o all dangers and risks.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age . o( 2)
Assessment Task 1BSBRSK501 Manage risk
Assessment des!ription
For the (ac)ille *ty +td simulated business scenario provided# you are
required to assume/take on the role o ,risbane store Assistant (anager#
Ash# who has -ust been promoted to be (anager o a new store. Ash has
been tasked with conducting a risk management analysis o this new
venture.
There are three stages to this pro-ect 01 review# 21 analyse and plan# and
31 monitor. This pro-ect is divided into three assessment tasks as ollows
"isk analysis
"isk review report# email to stakeholders report#
and meeting action
with (onitoring report
$%&plan and risk treatment
For this assessment task# you will need to review the simulated/pretend
business4s risk management processes and decide the scope/range and
ob-ectives/aims# taking into account stakeholders0/interested people and
both internal and eternal environmental/your world actors/causes
a5ecting the organisation. &nce you have gathered this inormation# you
are to identiy risks and write a drat/eample report to the $%&. 6ou will
meet with the $%& to discuss your report# seek support or your
fndings/what you have ound# and approval to communicate risk
management processes to relevant stakeholders/ interested people or
their eedback/comments and participation/being part o.
0
Stake/older 7 a person or group with a direct interest# involvement# or
investment in something
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age o( 2)
Assessment Task 1BSBRSK501 Manage risk
'ro!edure
6ou will assume/take on the role o Ash# Assistant (anager o the ,risbane
(ac)ille ca8# who has -ust been promoted to (anager o the new
Toowoomba store. 9n preparation or the new venture# Ash has been tasked
with conducting a risk management analysis o this pro-ect
&nce 9 have received your risk review report# we will need to discuss the
steps that you will take in the risk management process.
"egards
*. ;inski
$%& (ac)ille $a8s <ld1
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 5 o( 2)
Assessment Task 1BSBRSK501 Manage risk
2
'ST 7 A *%ST analysis is a business measurement tool. *%ST is an
acronym or *olitical# %conomic# Social and Technological actors# which are
used to assess the market or a business or organi!ational unit
3
S43T 6 a study undertaken by an organization to identify its internal strengths and
weaknesses, as well as its external opportunities and threats
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 7 o( 2)
Assessment Task 1BSBRSK501 Manage risk
3. Submit your report as per the specifcations / terms on the net page.
,e sure to keep a copy or your records.
E. Ater you have developed/written your report# write an email that is
intended or the interested people identifed in Step 21. 6our email
should clearly ask interested people / stakeholders or input/their
comments# include a list o risks you have identifed and invite them
to assist in identiying any additional risks.
. Send the email to the $%& your assessor1 or review and request a
meeting to discuss identifed risks and urther risk management
processes.
G. (eet with the $%& to
a. discuss your fndings/results# particularly your understanding o
the critical success actors and goals
b. eplain the (ac)ille risk management process
c. discuss how you can communicate with stakeholders about the
risk management processes in this scenario/situation and invite
them to participate in discussions to urther identiy risks
associated with the scenario
d. obtain the $%&4s support or ongoing risk management activities
e. ask the $%& or input on additional risks.
H. 9n dot7point bulleted1 orm# summarise/brieDy your discussion with
the $%&. This should include any recommendations/suggestions they
made to you.
I. Submit the required documents or assessment as per the
specifcations below. ,e sure to keep a copy or your records.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 8 o( 2)
Assessment Task 1BSBRSK501 Manage risk
Spe!i$!ations
6ou must provide
J a risk review report# including a completed table o stakeholders
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 9 o( 2)
Assessment Task 1BSBRSK501 Manage risk
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age ) o( 2)
Assessment Task 1BSBRSK501 Manage risk
hile settlement on the purchase o the business is not or another ew
weeks# the seller has agreed to grant/give us ull access/admission to the
store4s operational processes and store inormation. 6ou should
liaise/communicate weekly with the Finance# Audit and "isk (anagement
FA"(1 $ommittee here at head oMce concerning the marketing# fnance
and store management unctions that you are investigating/looking ater
7 into. 9 will set up a regular meeting or you.
?ead oMce has a report on a similar/same epansion/growth conducted
by the =S team that may help you in your research. 6ou may need to
review other statistical/numbers inormation and engage/take on
specialists to help you with your investigation/study. The legal frm
Noldsmith *artners are advising (ac)ille on the ?urley4s $a8 acquisition
and would be available to help you with legal or any compliance issues.
The landlord/owner o the shop in Toowoomba# "on +angord# is also a
local councillor and has o5ered his assistance in getting established in
Toowoomba. ?e has o5ered his availability or email address or
correspondence communication# messages1
hen you have fnished your report# please name it according to our
document naming conventions/standards and send it through. &nce 9
have received and discussed your risk review report# we can move onto
the net stage o the risk management process.
"egards
*. ;inski
$%& (ac)ille $a8s <ld1
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 10 o( 2)
Assessment Task 1BSBRSK501 Manage risk
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 11 o( 2)
Assessment Task 1BSBRSK501 Manage risk
J The location o the store on the corner o the two main streets o
the city makes or easy access or local customers and high
visibility or tourists.
J The long drive rom Toowoomba to ,risbane would make attending
the weekly managers meeting diMcult considering many meetings
did not fnish until into the evening ater rereshments. There are
also manager training sessions that need to be completed over the
net si months in with a ew other assistant managers.
=avigating/going through the steep narrow climb up the range with
trucks blocking the way is quite diMcult even in daylight hours.
,eing a competent/good driver you eel that it would be unlikely
that you would be involved in an accident# but it still
concerns/worries you considerably/quite a bit.
J The two7hour delivery time would make resh pastry deliveries rom
the company4s central bakery plant impractical/unrealistic. The
pastries would arrive ater the morning rush. These are a key part
o the (ac)ille product assortment/variety.
J There is also a concern about getting the company7branded
supplies through as quickly as a $,> ,risbane store could.
J ?urley4s $a8 was a amily7run store and some amily members
were employed on the sta5. Lames was engaged/working by the
amily to supervise/manage the operations o the store and (r
?urley as manager would authorise wages but anyone can
authorise deliveries.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 12 o( 2)
Assessment Task 1BSBRSK501 Manage risk
P The dishwasher was always set to the ull wash setting and
has a ater %Mciency +abelling and Standards Scheme
%+S1 rating o 3. The more water eMcient :G star
dishwashers cost about QG#KKK and above.
P ual6us/ system would cost about QH#KK to upgrade.
The store currently uses E0#KK litres a week.
J Lames spoke about the ca8 attracting a large percentage o
retirees because o the easy access to buses and the store4s central
location.
J The same sta5 member that completed the cash register balancing
also completed the bank deposit orm and did the banking as well.
The banking was not done every day and oten QE#KKK was kept on
the premises overnight in the cash register. There was no sae.
There is a bank two shops away but the ?urley amily bank is a
couple o blocks away and there was not always time to do the
banking.
J Lames replied to your question about the possibility o break7ins#
saying that there was a KR chance o it happening in a year and
the consequence/importance was moderate/reasonable.
J =ot all takings rom the cash register by amily sta5 members were
recorded.
C The ft7out looked old and unattractive in parts# with some chairs
unstable and broken and some parts o the worn carpet were
simply taped over with gaDer 5 tape,
J &ne o the sta5 was a qualifed che who had developed/setup an
innovative/new and popular range o rice wraps that were tasty#
E
ual Elus/ System 7 A dual7Dush toilet is a variation o the Dush toilet
that uses two buttons or handles to Dush di5erent levels o water
FaDer tape 7 strong cloth-backed waterproof adhesive tape
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 1. o( 2)
Assessment Task 1BSBRSK501 Manage risk
J "on eplained that there were opportunities or opening more ca8s
in the surrounding shopping centres like ilsonton# $li5ord Nardens
and ;7(art *la!a.
J "on handed you an etract rom a government report# O%conomic
,rie4.
J "on eplained that the ederal government was now introducing
G
'ar6*aking 7 is a cooking technique in which a bread or dough product is
partially baked and then rapidly ro!en or storage. The raw dough is baked
normally# but halted at about IKR o the normal cooking time# when it is
rapidly cooled and ro!en
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 1 o( 2)
Assessment Task 1BSBRSK501 Manage risk
H
By6"a<s a regulation made by a local authority or corporation
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 15 o( 2)
Assessment Task 1BSBRSK501 Manage risk
Eirst tele!on(eren!e
First# you met with the senior management team. At this teleconerence#
you discussed issues raised by Lames (ansfeld and "on +angord and the
report on previous =S epansion# which head oMce had given you
Report into the acquisition and re-brandin o! the NS" e#pansion store .
*aula said that there may be some things to learn rom the =S
eperience.
;ey problems identifed in the report were as ollows
0. 9=T%"=A+ S6ST%(S +ack o internal controls# particularly over cash
handling# monitoring and recording.
2. $&(*+9A=$% Failure to meet compliance standards in ?S# privacy
and industrial relations law.
3. *&+9$6 +ack o written policy and procedures to guide sta5 in
carrying out their duties.
E. ,S9=%SS $+T"% +ack o a pro(essional *usiness !ulture 9 in
the amily run business.
. Failure o the business to monitor the eternal environment/outside
a5airs and fnd opportunities and threats to the business.
The team agreed that similar issues would pose a risk to the Toowoomba
epansion.
Se!ond tele!on(eren!e
6ou then held a teleconerence with the FA"( $ommittee. At the
teleconerence# you relayed the concerns o the senior management team.
The FA"( $ommittee decided to allow you time to complete your review
and then would include discussion o your review in the monthly ,oard o
>irectors meeting.
I
Business ulture : the way a business or proessional organisaiton
operates with a sense o business ormalities.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 17 o( 2)
Assessment Task 1BSBRSK501 Manage risk
:ision
(ac)ille aims to deliver our valued customers the very best ca87going
eperience. 9n three years# the business will have established a
presence across the <ueensland and =S# with the opening o
additional ca8s.
:alues
J customer7ocus
J saety
J teamwork
J perormance ecellence.
Strategi! dire!tions
The strategic contet in which (ac)ille will achieve its mission and
vision is through
J engaging/dealing with customers and customer research
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 18 o( 2)
Assessment Task 1BSBRSK501 Manage risk
'oli!y
(ac)ille is committed to achieving its vision# business ob-ectives and
quality ob-ectives by the proactive/positive management o risk at all
levels o the organisation.
(ac)ille will identiy# evaluate# control and manage risk throughout the
organisation in accordance with the O(ac)ille "isk (anagement
Framework4. See risk management strategy or ramework details.
orporate governan!e 7 broadly reers to the mechanisms# processes
and relations by which corporations are controlled and directed.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 19 o( 2)
Assessment Task 1BSBRSK501 Manage risk
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 1) o( 2)
Assessment Task 1BSBRSK501 Manage risk
J monthly reporting
J eternal audit.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 20 o( 2)
Assessment Task 1BSBRSK501 Manage risk
Mont/ly reporting
>ecisions to rectiy/f problems are made at regular meetings o the
senior management team. $omprehensive/complete reporting at ,oard
and Sub7committee meetings is designed to monitor key/important risks
and their controls.
ternal audit
The fnal audit o fnancial statements is controlled by an eternal
!/artered a!!ountant 11 who provides eedback to the ,oard through the
FA"( $ommittee.
0K
Sitting Fees - is a fee paid for being part of a meeting and contributing to the
meeting without having any company ownership – it’s a fee payable on a periodic
basis throughout each year. The sitting fees covers all formal meetings, regardless of
their duration, of the prescribed authority, including any preparation time and travel
associated with the meetings
00
/artered A!!ountant 7 The title is an internationally recognised
proessional designation. $hartered accountants work in all felds o
business and fnance# including audit# taation# fnancial and general
management.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 21 o( 2)
Assessment Task 1BSBRSK501 Manage risk
02
ross6se!tion& a typical or representative/portion sample o a larger
group.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 22 o( 2)
Assessment Task 1BSBRSK501 Manage risk
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 2. o( 2)
Assessment Task 1BSBRSK501 Manage risk
3perational#organisational&
J legal and regulatory compliance
J technology
J insurance
J marketing
J product quality
J communications
J customer interaction
J market needs.
Einan!ial&
J accountability
J raud or thet
1
C !apital investment
J interest rates
Fovernan!e&
J conduct o ,oard o >irectors
15
C !oni!t o( interest ,
03
"ogisti!s 7 the planning and control o the Dow o goods and materials
through an organi!ation or manuacturing process
0E
apital Investment 7 unds invested in a firm or enterprise for the purposes of
furthering its business ob!ectives
0
oni!t o( interest 7 a conDict between the public and private interests
o somebody in an oMcial position
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 2 o( 2)
Assessment Task 1BSBRSK501 Manage risk
'ro-e!t management&
J procedures and tools or pro-ect management
J fnancial resources.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 25 o( 2)
Assessment Task 1BSBRSK501 Manage risk
Fuiding 'rin!iples
J (ac)ille is committed to achieving its vision# business ob-ectives and
quality ob-ectives by the proactive management o risk at all levels o
the organisation$ acknowledging that embracing/taking on
innovative/new ideas and practices carries with it risks# but that these
are identifable/known and measurable/can be calculated and
thereore capable o being sub-ect to realistic risk
mitigation/minimisation processes.
0G
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 27 o( 2)
Assessment Task 1BSBRSK501 Manage risk
e$nitions
"isks are identifed on a scale o likelihood/possibility o
occurring/happening in the net 02 months and assigning/handing over an
impact/e5ect or consequence/outcome to the risk as high# medium or low.
?igh includes either a signifcant/important shortall/loss o around EKR in
achieving budget or a signifcant reduction in ability to unction/work.
(edium includes either a shortall o budget o between 0KR and 2KR or
some reduction in unction. +ow indicates minor reductions in achieving
budget or minimal reduction in perormance.
Key Risk Indi!ator =KRI@ 7 " #ey $isk %ndicator , also known as a #$%, is a
measure used in management to indicate how risky an activity is.
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 28 o( 2)
Assessment Task 1BSBRSK501 Manage risk
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 29 o( 2)
Assessment Task 1BSBRSK501 Manage risk
© 2015 Innovation and Business Industry Skills oun!il "td#Modi$ed %uly 2015 1 st
edition version& 2
'age 2) o( 2)