BSBRSK 501

This document is Risk Management Plan Template.
It is part of the supporting assessment resources for Assessment Task 2 of BSBRSK501.
Manage risk BSBRSK501
Hemant Shah
6164036
Nature Care Products
Risk Briefing Report
Introduction
Dear Nick
I have prepared my risk briefing report on nature care risk management.
The Nature care Company grew very quickly and created several rivals in the process as well. So to
remain on the market and keep its earnings and not lose its customers. Our primary objective is to grow
the market by 10% and to open a fresh retail store in Melbourne, Sydney and Brisbane. We need enough
storage room to accommodate the product variety. New product launches and branding strategies have
also expanded market in recent.
Company need to achieve 100% ecofriendly suppliers to guarantee high quality products and
presentation, expand product range to attract more new customers. Which will helps to sustain successful
relationships with local suppliers and retailers. We should provide briefly structured basis for strategic,
tactical and operational planning across Nature Care Products in markets. Company sells its products in
health food shops across the country, as well as online through its own website. Market research has
identified that around 70% of customers are professional women aged 25 – 55.
Nature Care Products is dedicated to ensuring that all employees, especially those with management,
advisory and decision-making duties, have a good knowledge of risk management values and the abilities
required to efficiently enforce risk management. It will integrate risk management into its procedures of
planning and decision-making.
Australian Training School trading as Southern Academy of Business and Technology

Level 1 and 4 Bathurst Street Sydney NSW 2000 | Phone: 1300 852 205 | RTO Code: 31595 | CRICOS Provider Code: 03602E
Version : 2.0 Last Updated : 07 May 2018 Next Update: 07 May 2019
Scope
Scope is the part of project planning that involves determining and documenting a list of specific project
goals, deliverables, features, functions, tasks, deadlines, and ultimately costs. In other words, it is what
needs to be achieved and the work that must be done to deliver a project.
The Scope are the boundaries of the system it's the limit that the organization will need to address when
implementing the Risk Management Plan.
Risk management is the recognition that it is often best to approaching the management of risk from an
integrative stand point. Business risk comes in many forms and these forms are often changing.
Risk management process is divided as follows:
Management Planning: Prepares the Ministry or Agency for the procedures needed to manage risks
detailing management activities for the project.
Identify risk: Allows the Ministry or Agency to identify the various risks and categorize them according
to a suitable and controllable structure.
Qualitative Risk Analysis: Analyses all risks and their impact going through a computational
procedure to reach relative exposure of project or operation to the various risks.
Quantitative Risk Analysis: Presents an additional set of quantitative techniques that supplement the
main procedure in Qualitative Analysis.
Response Planning: Presents the processes needed to respond to every risk.
Monitoring and controlling: Presents the procedures needed to monitor and track risks, revising the
Risk Analysis Table and learning from the various results.
PESTLE Analysis
PESTLE is a mnemonic which in its expanded form denotes P for Political, E for Economic, S for Social,
T for Technological, L for Legal and E for Environmental. It gives a bird’s eye view of the whole
environment from many different angles that one wants to check and keep a track of while contemplating
on a certain idea/plan.
Political Factors
Factors Risk treatment as applicable

Government is supportive of private enterprise Lack of business stakeholder alignment in
program

Taxation initiatives support private enterprise
Economic Factors
factors Risk treatment as applicable

Economy is stable economy with fairly constant output growth
Unemployment is low and therefore this may Consider training ,offer training for skilled worker
present challenges in finding a skilled work force
Social Factors

Increasing move by consumers to organic, Proper and rightly uses of products and more
environmentally friendly products awareness
Ageing population More uses in professional women’s
Technological Factors
Technological developments that improve ways of Improvement in productivity

working
Technological developments that improve business Better customer service and enhance market
operation
Legal Factors
Consumer law protects consumers government may require businesses to disclose
detailed information about products
Avoid consumer complaints Don’t make promises and fake define of product
that you cant keep.
Environmental Factors


Increasing move by consumers to organic, Go for organic and ecofriendly products
environmentally friendly products
Environmental protection increasing Choose reusable
Risks
Risk Treatment
Inability to attract quality staff Fair pay
Competitors follow same model computer network failures and problems associated with
using outdated equipment
Not enough customers Make trust in brand
Make clear benefit of product
Prices undercut by Competitors Highlights value and understand their product positions
Production cannot fulfil demand Make stock order demand and methods of work
Internal and external stakeholder analysis

As public participation becomes increasingly embedded in national and international public health policy,
it becomes ever more crucial for decision-makers to understand who is affected by the decisions and
actions they take, and who has the power to influence their outcome: the stakeholders. The stakeholder
concept has achieved widespread popularity among academics, policy-makers, the media and corporate
managers. Within the field of strategic management, the stakeholder concept has become firmly
embedded.
stakeholder is a person who has something to gain or lose through the outcomes of a planning process,
programme or project Stakeholder Analysis is a technique used to identify and assess the influence and
importance of key people, groups of people, or organisations that may significantly impact the success of
your activity or project Identify and map internal and external stakeholders
Internal Stakeholders
• Director of Programmes and Services
• Research Scientist
• Communications
External Stakeholders
• Suppliers
• Funders
• Quality assessors
• Link group
• Special interest groups
Strengths and weaknesses
Strengths of risk management process:
 Benefits of risk assessment

It focuses on the identified tasks on assisting the impact of business or projects. This phase focuses on
the ideas that are discussed among the stakeholders. It has greatest advantage of dealing with the points
that are finalized with more possible solutions.
It has sense of all views that turns into accountability of each and every social life. Participation in these
kinds of assessments will help one to tackle his/her risks. It promotes organizational culture.
 Minimization of risks
The risks that are handled within the given assessment’s plans are foreseen within the business
functions. It enables one to speed up the data to change policies and contingencies that are made
successful within the mapped business functions.
 Awareness about the risks

Here the terms that are noticed will create awareness among the scheduled terms of risks that are a
successful analysis and evaluation of exercising the modules of risks.
It enables one to concentrate on the risk treatments within the lessons learnt and are scheduled into lack
of preparation. It has subsequent phases regarding each module within the identified data.
Weaknesses of Risk Management Process
 Unmanaged losses
If the organization meddles with a loss, then that pay will be delivered to the pay loss of the firm.
Here, the organization is responsible for the loss that happened due to improper schedule about the risk
management.
 Depends on external entities
Managing risks depends on the external entities that are modulated within the organization, usually
depends on the external data. It includes all the dependent information about the risks regarding other
valid resources. The transferable resources depend on the external entities that tend to have data.

Critical success factors

Critical success factor is a management term for an element that is necessary for an organization or
project to achieve its mission. To achieve their goals they need to be aware about each key success
factor and the variations between the keys and the different roles key result area
. Some critical success factors will be identified when the project team does its risk analysis.
• undertake only necessary tasks and avoiding over-control and waste of valuable resources;
• fully comply with the organization philosophy and mindset by providing a system that instead of
preventing people from doing what they are employed to do, it will enable them to do it in control and
demonstrate their fulfilled accountabilities;
Conclusion
In conclusion, Nature care products is moving into the home increasingly often and involving a mixture of
people, a variety of tasks, and a broad variety of products; it is also occurring in a range of residential
environments. Company results varies considerably in its safety, effectiveness, and efficiency, as well as
its quality and cost.
This company makes great expand in online shop and retail outlet in three major cities to growth and
attract more products users, target market for nature care products is currently profession women who
buy product online and retail stores. Company talks about the increase product awareness and to
increase the market share by 10%.
Company need 100% feedback of ecofriendly product, market research and high quality to attract more.
Risk is the synthesis of the theoretical approach for identifying, assessing, and quantifying risks with the
managerial approach for mitigating, controlling, and managing them. The risk criteria should reflect the
objectives and context for the risk assessment he risk criteria chosen should be continuously reviewed.
Company specify the risk criteria in all products which may include environmental safe, human health and
safety, costing. Company need to Presents the processes needed to respond to every risk.

Risk Register
Scope of assessment: Identify risk

Critical success factors: Controlling risk with cost effective
Internal & external stakeholders:
Trainers, Guests
Risk Consequences Severity Rating Likelihood Rating Treatment or control Pr

methods
Or
Maintain proper maintained 2 3 Clean up weekly check Lo
infrastructure
Quality and Not enough 3 3 Make trust brand M
quantity customers
Market control Effect in 4 3 Proper survey in market Hi
field
communication Several internet 3 2 Use updated equipment M
and other problems
competitors Prices undercut 2 3 Make less margin Hi

Risk action plan

Each of the risks identified above should be included in the table below and actions shown. The table should be
copied and pasted for each risk.
Description of risk Market control

Summary of recommended response Should be proper market survey
and impact
Proposed actions Control of prices and margin
Resource requirements New Policy and procedure
Responsibilities Understanding about products and suppliers
Timing Weekly
Reporting/Monitoring Marketing manager

Meeting minutes
Date: 05/09/2019
Time: 9:00 am -9:30 am
Place: Sabt Room 8

Hemant Shah(Operation manager) Kamal Acharya(Account manager), BIkki
gharti(marketing manager), Prateek Gautam(Sales manager ,Shreejal Thapa(Minute
Attendees: TAKER)
Apologies: 0
Item Description
1 Short speech about Manage Risk
Maintain infrastructure(Hemant Shah)

2
Outcomes: clean up weekly checked
Quality and quantity (Kamal Acharya)
3 Outcomes :make trust brand
Market controls (Bikki Gharti)
4
Outcomes :Proper survey in market place
Communications(Prateek Gautam)
5
Outcomes: Use updated equipment
Shirjal Thapa
Minute taker:
Signed:
Level 1 and 4 Bathurst Street Sydney NSW 2000 | Phone: 1300 852 205 | RTO Code: 31595 | CRICOS Provider Code: 03602E This
document is Meeting Minutes Template.
It is part of the supporting assessment resources for Assessment Task 2 of BSBADM502.
Version : 2.0 Last Updated : 07 May 2018 Next Update: 07 May 2019 Page 1 of 2
This document is Meeting Minutes Template.


Level 1 and 4 Bathurst Street Sydney NSW 2000 | Phone: 1300 852 205 | RTO Code: 31595 | CRICOS Provider Code: 03602E This
document is Meeting Minutes Template.
Version : 2.0 Last Updated : 07 May 2018 Next Update: 07 May 2019 Page 2 of 2



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This document is Risk Management Plan Template.

It is part of the supporting assessment resources for Assessment Task 2 of BSBRSK501.

Manage risk BSBRSK501

Nature Care Products

Risk Briefing Report

Australian Training School trading as Southern Academy of Business and Technology

Risk management process is divided as follows:

Response Planning: Presents the processes needed to respond to every risk.

Factors Risk treatment as applicable

Australian Training School trading as Southern Academy of Business and Technology

Taxation initiatives support private enterprise

factors Risk treatment as applicable

Factors Risk treatment as applicable

Factors Risk treatment as applicable

Technological developments that improve ways of Improvement in productivity

Australian Training School trading as Southern Academy of Business and Technology

Factors Risk treatment as applicable

Internal and external stakeholder analysis

Strengths and weaknesses

Strengths of risk management process:

 Benefits of risk assessment

 Awareness about the risks

Weaknesses of Risk Management Process

Australian Training School trading as Southern Academy of Business and Technology

Critical success factors

Australian Training School trading as Southern Academy of Business and Technology

Scope of assessment: Identify risk

Risk Consequences Severity Rating Likelihood Rating Treatment or control Pr

competitors Prices undercut 2 3 Make less margin Hi

Australian Training School trading as Southern Academy of Business and Technology

Risk action plan

Description of risk Market control

Australian Training School trading as Southern Academy of Business and Technology

Time: 9:00 am -9:30 am

Place: Sabt Room 8

1 Short speech about Manage Risk

Maintain infrastructure(Hemant Shah)

3 Outcomes :make trust brand

Market controls (Bikki Gharti)

This document is Meeting Minutes Template.

Australian Training School trading as Southern Academy of Business and Technology

Australian Training School trading as Southern Academy of Business and Technology

Australian Training School trading as Southern Academy of Business and Technology

Australian Training School trading as Southern Academy of Business and Technology

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