Unit Name: BSBRSK501 Manage Risk

Student Information

Student ID: UEDT201

Student Name: Bibek kandel

 Project Assessment Task 1

You are required to develop a risk management plan for a company of your choice, or for an area of the
Registered Training Organisation in which you are studying. Your risk management plan must include:
- a detailed stakeholder analysis;
- explanation of the risk context;
- critical success factors;
- identified and analysed risks;
- treatments for prioritised risk;
- details of the monitoring arrangements; and
- an evaluation of the risk managements plan efficiency in treating risks
- all required forms for implementation within a workplace (to be developed by
you)

Your evaluation of risks must include

- considering the likelihood of the risk occurring
- considering the impact of the risk
- determining which risks are most significant and are therefore priorities for
treatment

Your action plans should include

- what actions are - time lines
required
- who is taking - monitoring processes
responsibility

Your risks may include those relating to:

- commercial
relationships
- economic
circumstances and scenarios
- legislation
- natural events
- technology
- human behaviour
- individual activities
- management activities and
controls
- political circumstances

To perform this task, you will be required to submit a written risk management plan. Do your research. Find
out what the business does, how it operates, and investigate the industry as a whole.

Assessment Summary
You are to submit the following evidence / perform the following tasks
· Develop and submit a written risk management plan as outlined above
· Include your stakeholder analysis
 RISK MANAGEMENT
PLAN

TOUR OPERATION IN COVID-19 OUTBREAK

This plan is based on AS/NZS 4360 – Risk

Management
CONTENTS PAGE
 Risk
Management Plan
1. Introduction and Context

The event titled ‘Tour Operation To Australia In COVID-19 Spread’ is being organised by Travel
AGENCY G Adventures and will take place on next month. The objective of this event is

- Prevent the spread of COVID-19 in Australia

- Protect travellers who are visiting Australia and citizens
- Avoid unexpected events for the company

The context within which this plan has been developed is outbreaks of the Novel Coronavirus
virus (COVID-19)
China and South Korea are currently experiencing outbreaks of the Novel Coronavirus virus (COVID-
19). Outbreaks of the virus originated in the city of Wuhan but cases have spread to other major
cities within China and to other destinations. Travel restrictions have been imposed by Chinese
authorities and many governments around the world are elevating their travel advisories with regard
to some destinations.

(As an example: the context within which this plan has been developed is to run the most
successful event possible, ensuring at the same time the patrons attending in the event
are protected from harm, the property and environment are protected from damage and
the event provides a positive contribution to the community while enhancing the
reputation of (G Adventures).

1. Background/Event Scope
Background of Event
China and South Korea are currently experiencing outbreaks of the Novel Coronavirus virus
(COVID-19). Outbreaks of the virus originated in the city of Wuhan but cases have spread
to other major cities within China and to other destinations. Travel restrictions have been
imposed by Chinese authorities and many governments around the world are elevating
their travel advisories with regard to some destinations.
Details of Activities of the Event
- Outbreaking COVID-19 in China since the early year 2020
- Spreading over the world, especially in Korea and Japan
- Governments and airlines have applied entry restrictions to individuals
who have recently travelled in or through mainland China, Hong Kong, Macau, Taiwan,
Japan, Singapore, South Korea, Italy, Iran or other countries that have experienced
outbreaks of COVID-19.
2. Organisational Details

Business name: G Adventures Agency

Business structure: Partnership

Business location: 3/419-425 Collins Street, Melbourne VIC 3000, Australia

The company specialises in corporate travel, group travel and also services individual
clients.
 The agency is a full service operations offering assistance in booking all aspects of travel:
accommodation, flights, insurance, transportation hire and tour arrangement. The
agency can also assist clients with travel advice and obtaining visa.

2. Definitions
Risk – The chance of something happening that will have an impact on objectives.
Risk Assessment – The overall process of risk identification, risk analysis and risk
evaluation.
Risk Management – The culture, processes and structures that are directed towards
realising potential opportunities, whilst managing adverse effects.
Risk Reduction – Actions taken to reduce the likelihood, negative consequences or both,
associated with a risk.
Risk Treatment – The process of selection and implementation of measures to modify
risk.
Risk Transfer – The process of selection and implementation of measures to modify risk.
Risk Acceptance – Risk acceptance is the acknowledgement that there is a risk and of the
consequences that may result, which is accepted.

1. Stakeholders and Key Analysis

Stakeholder Analysis
(At this point detail all agencies, organisations and businesses who are involved in preparing and
providing input into the Risk Management Plan. Indicate who was involved in the consultation
process).

Explain what the business is, the business operations,

Describe your stakeholders of the business both internal and external stakeholders

Critical Success factors

How is your business successful? Explain in 50 - 100 words.

SWOT ANAYSIS

Strengths Weaknesses

- Excellent staff, highly skilled at selling - A limited marketing budget to develop

local domestic and overseas tours. brand awareness.

- Great location. - Limited space and capacity to serve

more customers.
- High customer loyalty.

- Product offerings that exceed

competitors’ offerings in quality and
service

Opportunities Threats

- Strong market potential. - Competition from local Agencies,

- A significant percentage of the target
market still not coming into G
Adventures
- Expansion and franchising.
- Extension of business hours during week
and over weekend with demand.
online businesses and other travel
service providers.
- Uncertainty of worldwide security
issues
- Change in visa regulations to countries
of interest
- Potential shifts in population when
buildings or streets are redeveloped.

PEST ANALYSIS
POLITICAL There are some legislations we must consider,
including Health and Safety, International
Immigration Laws, Banking implications
following Global Financial Crisis (GFC),
Industrial Relations (IR) Laws, Possible
packaging of tours and multiple entry points,
and Visa Laws.
The legislation may be particularly important
for our business and marketing activities. As
noted, ethical business practice such as
sustainable and ethical travel are beginning to
be increasingly on people’s political radar.
More stringent visa and travel regulations may
allow us to highlight its ethical and
responsible approach to our travel business.
In a similar way, environmental legislation
may allow us to promote its low-impact
approach to advertising while also
disadvantaging the competition, which may
need to alter their practices to comply.

ECONOMIC The unemployment rate remains at under 5%.

Steady or moderately falling interest rates
underpin business and consumer confidence.
Growth is forecast across the economy at a
modest 2–3%. Travel growth for corporate and
overseas leisure travellers are forecast to grow
in this mid-range.
However, due to the outbreak of COVID-19,
the global economy is down, therefore,
spending on travelling can be limited.
 SOCIAL Consumers are increasingly aware of working
conditions in other countries and
increasinglywant to contribute to better social
and economic outcomes globally. Consumers
are alsoconcerned about the environment.
But the risk of COVID-19 limits the demand
of customers to travel.

TECHNOLOGICAL Using GDS and online booking platforms G

Adventures will develop a business model to
fit within the market requirements.
Internet, information, and social networking
technologies continue to evolve and provide
new challenges and opportunities for
marketing. The company will continue with its
effective use of its website and social
networking to reach its target markets.
Social network channels can help the agency
to communicate with their customers to
provide information of the desease.

4. Risk Identification
The following checklist items are not exhaustive, but can be used as a prompt. You will also need to
consider site and event specific risks such as drowning if your event is in a reserve which has lakes.
 2. Assessing Potential Risk

Once risks are identified, they are evaluated on a two (2) dimensional matrix using a qualitative
rating of the likelihood of the event occurring and the scale of the possible consequences.
When risks have been identified, they are analysed by combining the consequences and
likelihood to produce a level of risk. This form of evaluation provides a good graphical
representation of how serious the risk is or where it lies within a group of risks. The risk
analysis provides information critical to determining what risks need to be treated and what
risks are accepted.

Rank the table: Likely: Almost Certain – Likely – possible – Unlikely – Rare

Impact/Consequence: Low - Medium - High

Risk Likelihood Impact Strategy

Business closing down due to Likely High Create an online ecommerce platform so
lack of customers due to customers can order products online and
Corona Virus walk in stores.

Limtation by governments in Likely High Inform the related parties to receive help in
departuring and arriving managing the customers

Risk of COVID-19 in travel Likely High Require all stores arranged in tours to cleand
destination and make the solution for limiting risk

Customers who come through Unlikely Medium The information about health of customers is
the desease areas but not collected and managed during tours. Any
inform systoms are observed by supervisors

Downturn of economy limits Likely Medium The strategy for reducing cost and
the demand of travelling conducting promotion to encourage
customers to buy services.
 Table 4: Risk Register

Compiled by: Date:

Reviewed by: Date:

Function / Activity:

Use the template provided in Appendix 1, to come up with your own.

C Risk Co Li Existi C L L Ri
a – ns k ng o i e sk
t what eq el Contr n k v Pr
e and ue ih ols s e e io
g how nc o e li l rit
o can it e o q h o y
r happ d u o f
y en e o R
n d is
c R k
e a
R ti
a n
t g
i
n
g

Heal Outbreak Lkely Conduc 3 Y Hig 2

th/ of (Econo t plan h
Injur COVID- mic to
y/Di 19 can cost) prevent
seas spead News the
e when covera spead
travellers ge when
joini (Loss of travelle
tours reputa rs join
tion) tours
Legal Control
action strictly
(Financi the
al loss) health
Injury situatit
to on of
people travelle
(Econom rs who
ic loss) come
from or
go
through
the
countri
 es in
the
outbrea
k
Econom Outbreak of Economic cost Likely Develop plan of 4 Y High 1
y Financial loss cost
COVID-19 Affect on management to
limits the employee’s minimize cost
demand of salary Conduct plan of
promotion
both strategies to
domestic increase sales
and
internationa
l travellers.
This leads
to the
situation in
which sales
of tours and
flights
reduces. It
means that
profit also
declined
 6. Evaluating and Treating Potential Risks

Table 5: Risk Treatment Schedule and Plan

Compiled by: Date:

Reviewed by: Date:

Function / Activity:

Use the template provided in Appendix 2, to come up with your own.

Risk Possible Pref Risk Ri Cost/b Person

Treatm erre Ratin s enefit Responsib
ent d g k Analys le for
Options Op BEFO R is Implemen
tion RE a A– tation
s Treatm ti Accept
ent n B ‐ Reject
g
A
F
T
E
R
Treatm
ent

Health 1. Quit tour provisions 3 High Medium A Managers

Risk to the countries in
red list including
China, Korea, and
Japan.

2. Provide visitors to 1 A Tour operators

medical materials to
limit the infection
Economic 1. Cut unessential 2 High Medium A Tour operator an
Risk services to reduce supervisors
cost

2. Increase the price 4 R Supervisors

to keep tour
operation
 3. Risk Action Plan
For those risks that are High, Extreme or deemed to be unacceptable, they need to be evaluated
and specific action plans need to be developed to manage the risk appropriately.

Table 6: Risk Action Plan Table

RISK ACTION PLAN

Item

Risk COVID-19 Outbreak

Summary To ensure that the outbreak of COVID-19 is not impacting more on the tour oper
(recommended Adventures, the report of risk management plan is submited to managers. The co
response & impact) procedure to ensure that the risk of desease is acceptable.

Proposed Actions
Resource Requirements
Responsibilities
· Contact governments and related partities to manage risk from COVID-19
outbreaks
· Prepare plan to deal with risks in tour operation
· Time
· Human resources
· Medical materials
To prevent the COVID-19 and limit its impacts on the agency, responsibilities are
· Managers and employees in agency office in Australia and other destination
management plan basing on the situation of desease
· Tour operators follow the safety guidelife to protect visitors

Timing · Procedure to be completed during the outbreaks and at least two months lat
· Reports to managers and responsible parties are required often
· Checklist of actions are updated, basing on the sutuiation of outbreak.

Reporting/Monitoring
· Tour operators conduct reports to managers and office centers during the w
· Checklists are completed, added, and fixed basing on the level of flexibity of
Project Assessment Task 2

Using the risk management process developed in Assessment 1, you are to perform a Risk
Assessment on a vocational area of your choice. This may be a department within the college, a
business structure you are aware of, or any other vocational area.

You should use the forms developed in Assessment 1 for this task, and submit them to your assessor
as part of your review

As part of this task, you are to record:

- who was involved in the assessment

- the processes you undertook
- any issues you came across and how your dealt with them
- your findings from the risk assessment

Assessment Summary

You are to submit the following evidence / perform the following tasks

· Perform your risk analysis

· Submit your completed risk analysis report with supporting evidence as outlined above
For this risk assessment, I chose Travel Agency G Adventures I used information about the
agency through my friend, because she is working as tour operator. We explored the different
risks that can come up in the agency. These were the ones that we came up with:

1. Economic risk to business – High: It can be seen that the outbreak of COVID-19 over the world
put strongly negative impacts on global tourism industry when with scare of disease, visitors
limit travelling.
2. Disease infection risk – High: It is clearly observed that when operators and visitors
communicate many people in tours, the risk of infection is high. This harm is difficult for the
agency to manage
3. Information mis-control – Medium: By the way due to any reasons, customers do not inform
their situation, which can lead the health risk

Stakeholdermap.com (2020). [image] Available at: https://www.stakeholdermap.com/risk/risk-assessment-

matrix-simple-3x3.html [Accessed 6 Feb. 2020].