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Assessment Task 1 (BSBRSK501) Assessment Task 1 BSBRSK501 Manage risk Report on risks Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment site Assessment date/s Time/s...

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Assessment Task 1 (BSBRSK501)
Assessment Task 1    BSBRSK501 Manage risk
Report on risks
Submission details
    Candidate’s name
    
    Phone no.
    
    Assessor’s name
    
    Phone no.
    
    Assessment site
    
    Assessment date/s
    
    Time/s
    
The assessment task is due on the date specified by your assessor. Any variations to this a
angement 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 task you are required to determine the risk context associated with establishing a new business outlet within the existing business structure. You will be required to review internal and external environment factors, obtain support for activities and liaise with relevant stakeholders to identify risks.
Assessment description
For the MacVille Pty Ltd simulated business scenario provided, you are required to assume the role of Brisbane store Assistant Manager, Ash, who has just been promoted to be Manager of a new store. Ash has been tasked with conducting a risk management analysis of this new venture.
There are three stages to this project: (1) review, (2) analyse and plan, and (3) monitor. This project is divided into three assessment tasks as follows:
Assessment Task 1
Risk review report, email to stakeholders and meeting with CEO
Assessment Task 2
Risk analysis report, action plan and risk treatment
Assessment Task 3
 
Monitoring report
For this assessment task, you will need to review the simulated business’s risk management processes and determine the scope and objectives, taking into account stakeholders and both internal and external environmental factors affecting the organisation. Once you have gathered this information, you are to identify risks and write a draft report to the CEO. You will meet with the CEO to discuss your report, seek support for your findings, and approval to communicate risk management processes to relevant stakeholders for their feedback and participation.
Procedure
You will assume the role of Ash, Assistant Manager of the Brisbane MacVille café, who has just been promoted to Manager of the new Toowoomba store. In preparation for the new venture, Ash has been tasked with conducting a risk management analysis of this project:
    Excerpt of email from CEO Paula Kinski
From: CEO – P. Kinski
To: Assistant Manager – Queen Street store
Re: New Toowoomba store
Congratulations on your new appointment. Prior to taking up your position as Manager of our new Toowoomba store, located in Ruthven Street, the Board of Directors has asked that the risks in this project be appropriately managed.
I want you to undertake this task as it will give you significant insight into the store’s operations, it will ensure a smooth transition for Hurley’s Café staff into the MacVille family and will encourage you to give ongoing support for our risk management initiatives.
I would like you to approach this task in three stages and meet with me at the end of each phase to review your work and discuss your plans for the subsequent phases. The three stages in this risk management task will include:
1. Review.
2. Analyse and plan.
3. Monitor.

Once I have received your risk review report, we will need to discuss the steps that you will take in the risk management process.
Regards
P. Kinski
CEO MacVille Cafés (Qld)
1. Review the provided MacVille simulated business scenario information and documentation provided in the Appendices of this task.
2. Write a report for the CEO (your assessor) that addresses the following:
a. The effectiveness of the MacVille Risk Management Framework in supporting the principles and processes of risk management, set out in the risk management standard AS/NZS ISO 31000:2009. Outline the purpose and key elements of the standard in your discussion.
. Identify and describe the scope of risk management required in your role.
c. Identify and describe the critical success factors, goals or objectives for areas included in the scope.
d. Identify relevant internal and external stakeholders, their role in the risk management process, and any issues or concerns they have raised. Complete the Table of Stakeholders Template (provided in Appendix 3 of this task) and attach to your report.
e. Complete a PEST analysis and a SWOT analysis to identify risks associated with the scenario. Outline the relevant legislation, regulations and standards (including those at a local level, i.e. Toowoomba Council).
f. Describe the methods of research that you used to complete your PEST and SWOT analysis. For example, how you approached the simulated business information; legislation, regulations, etc.; and any other information or research on risk that applies to the scope of your report.
g. Complete the analysis of risk for the scenario by summarising the scenario and identifying a list of risks to the project.
Note: Ensure your report is written in a style appropriate to your stakeholder audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support your summary.
3. Submit your report as per the specifications on the next page. Be sure to keep a copy for your records.
4. After you have developed your report, write an email that is intended for relevant stakeholders (identified in Step 2). Your email should clearly ask stakeholders for input, include a list of risks you have identified and invite them to assist in identifying any additional risks.
5. Send the email to the CEO (your assessor) for review and request a meeting to discuss identified risks and further risk management processes.
6. Meet with the CEO to:
a. discuss your findings, particularly your understanding of the critical success factors and goals
. explain the MacVille risk management process
c. discuss how you can communicate with stakeholders about the risk management processes in this scenario and invite them to participate in discussions to further identify risks associated with the scenario
d. obtain the CEO’s support for ongoing risk management activities
e. ask the CEO for input on additional risks.
7. In dot-point form, summarise your discussion with the CEO. This should include any recommendations they made to you.
8. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
Specifications
You must provide:
· a risk review report, including a completed table of stakeholders
· email communication to stakeholders
· summary notes from your meeting with the CEO.
Your assessor will be looking for evidence of:
· reading skills to gather, review, interpret and analyse text-based business information from a range of sources
· written and oral communication skills to organise and deliver information to effectively communicate risk management processes to a range of stakeholders
· numeracy skills to interpret mathematical data when reviewing and analysing scenario business information
· ability to work independently as well as collaboratively to make decisions about risk management
· ability to interact with others using appropriate conventions when communicating to, and consulting with, stakeholders
· ability to sequence and schedule activities and manage communication
· ability to analyse relevant information to identify scope, goals and objectives and to evaluate options
· ability to use familiar digital technology to access information, document findings and communicate them to stakeholders.
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.
· The role-plays can be adjusted for distance learning. The role-plays for this task can be varied to take place using Skype conferencing (or any other video conferencing tool available to both you and the assessor).
Appendix 1: MacVille Pty Ltd simulated business
Background
As part of their overall strategy in the Australian beverage market, MacVille Pty Ltd have developed a chain of cafés in the Central Business District (CBD) of Brisbane, Queensland and the CBD of Sydney, NSW. The Board of Directors has made the decision to expand their operations in Queensland with the purchase and re-
anding of the existing Hurley’s Café in Toowoomba, 130 km west of Brisbane.
Ash is cu
ently the Assistant Manager of MacVille’s flagship café in Queen Street, Brisbane, and has been given the opportunity to manage the new store in Toowoomba. Ash is also a member of the Finance, Audit and Risk Management (FARM) Committee described in the MacVille Risk Management Policy.
The CEO for MacVille’s cafés in Queensland, Paula Kinski, has assigned Ash the task of managing the risks involved with the operational aspects of this takeover. A copy of her email is provided below.
Email from CEO Paula Kinski
    From: CEO – P. Kinski
To: Assistant Manager – Queen Street
Re: New Toowoomba store
Congratulations on your new appointment. Prior to taking up your position as Manager of our new Toowoomba store, located in Ruthven Street, the Board of Directors has asked that the risks in this project be appropriately managed.
I want you to undertake this task as it will give you significant insight into the store’s operations, it will ensure a smooth transition for Hurley’s Café staff into the MacVille family and will encourage you to give ongoing support for our risk management initiatives.
I would like you to approach this task in three stages. After the first stage, we will meet to review your work and discuss your plans for the subsequent phases. The three stages in this risk management task will include:
1. Review.
2. Analyse and plan.
3. Monitor.
Your primary risk management focus is directed to the ongoing operations of the Toowoomba café. The strategic and investment risks of this project are being managed by the Board. To this end, you are to consider any risks that could impact on human resources management, financial operations, WHS, our supply chain and the local governance and overall compliance issues.
MacVille has agreed to employ all existing staff at Hurley’s Café on three months’ probation. The cu
ent supervisor of Hurley’s, James Mansfield, has been offered the position of 2nd In Charge and he has accepted.
While settlement on the purchase of the business is not for another few weeks, the seller has agreed to grant us full access to the store’s operational processes and store information. You should liaise weekly with the Finance, Audit and Risk Management (FARM) Committee here at head office concerning the marketing, finance and store management functions that you are investigating. I will set up a regular meeting for you.
Head office has a report on a similar expansion conducted by the NSW team that may help you in your research. You may need to review other statistical information and engage specialists to help you with your investigation. The legal firm Goldsmith Partners are advising MacVille on the Hurley’s Café acquisition and would be available to help you with legal or any compliance issues.
The landlord of the shop in Toowoomba, Ron Langford, is also a local councillor and has offered
Answered Same Day Mar 07, 2020 BSBRSK501 Training.Gov.Au

Solution

Ckreta answered on Mar 09 2020
135 Votes
Assessment task 1, 2 and 3
Table of Contents
Assessment Task 1- (Report on Risks)    3
1. Review the MacVille simulated business scenario information    3
2. Report for the CEO    3
4. Email to relevant stakeholders    6
5. Email to CEO    6
6. Meet with the CEO    6
ASSESSMENT TASK -2 (Analyse and treat risk)    8
PART A    8
4.    10
PART B    10
ASSESSMENT 3- (MONITOR risk and evaluate processes)    11
REFERENCES    13
Assessment Task 1- (Report on Risks)
1. Review the MacVille simulated business scenario information
The business scenario focuses on the leading beverage chain of Australia that is MacVilleCafé. Ithas developed a chain of cafés in the Central Business District (CBD) of Brisbane, Queensland, Sydney and NSW. Thus, the directors of company engage in enlarging and expanding their operations in the Queensland by developing Hurley’s café (Hopkin, 2017). Assistant mamager Ash of MacVille café is in-charge of managing the risks through assessing the internal and external environment of new store that would assist in gaining significant insight into the store’s operations. This would help the staffs and employees of Hurley’s Café to be part ofMacVille family and engage in undertaking risk management initiative for the project.
2. Report for the CEO
a) MacVille café focuses on effective risk management framework that supports the cited beverage firm in overcoming the risks and hazards while conducting the operational activities. The framework designed by the café management is been set out accordant with the risk management standard AS/NZS ISO 31000:2009that is framed by the Australian government (McNeil, Frey and Em
echts, 2015). The key purpose of standard is to focus on drafting specific guidelines and principles on the risk management so that company may easily engage in the practices that overcome the associated risks and hazard within the firm. Along with this, there are key elements of the standard that mainly include considering both types of risks that are operational and strategic in order to overcome the long term risks to the café policy outcomes.
) As an assistant manager of MacVille café it has been identified that scope of risk management is significant for me as it assist in reviewing and handling the risk activities before it occurs within the organisation (Sarkar, 2017). The café is re-
anding and developing the Hurley café into MacVille chain thus it is required by assistant manager to oversee the entire external and internal hazard that would impact the operation so that they can easily engage in the activities that would overcome the situation and support in choking the risk. In addition to this, it has been also describe that scope of risk management would support me in overcoming the areas related with estimating the time as well as cost associated with re-
anding of the new store.
c) In order to overcome the above mentioned areas that is time estimation and cost estimation for developing the new store assistant manager has focused on stating-
The critical success factors-
· Securing financial resources and funds for the expansion
· Skilled designer and manage
· Support from senior manager to prioritizing the activities
Goals-
· To recreate and develop store in Toowoomba store located in Ruthven Street in the stipulated time frame.
· Expanding services and beverages range to attract more and more customers.
· Allocating proper time and deadline for developing and performing activities
Objective-
The key objective of risk management is to focus on time and cost area so that assistant manager may not lead to perform ineffective activities while conducting risk assessment (Sweeting, 2017).
All the above factors would support in attaining the overall mission related with serving healthy and nutritious food to the customers along with high quality of coffee at the competitive price.
d)
It has been identified that assistant manager while conducting risk management process must involve internal and external stakeholders so that they may easily raise the concern or issues that might arise while re-
anding and developing the new beverage store.
Table of stakeholder’s template
    Stakeholde
    Internal/external
    Role in process
    Stake in process
    Employees
    Internal
    Employees would play effective role in risk management process as they would engage in determining the risk factors that could...
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