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Australian International Training Academy Pty Ltd t/a My Business College (MBC) ABN: XXXXXXXXXX CRICOS Provider Code: 03694G National Provider Code: 45368 Level 4,225 Clarence Street, Sydney, NSW 2000...

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Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 1 of 46

Student Assessment Tasks
BSBRSK501 Manage risk

Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 2 of 46
Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Student Assessment Agreement 7
Assessment Task 1 Cover Sheet 9
Assessment Task 1: Written Questions 11
Assessment Task 1 Instructions 15
Assessment Task 1 Checklist 17
Assessment Task 2 Cover Sheet 18
Assessment Task 2: Risk management project 20
Assessment Task 2 Instructions 23
Assessment Task 2 Checklist 28
Assessment Task 3 Cover Sheet 31
Assessment Task 3: Risk implementation project 33
Assessment Task 3 Instructions 35
Assessment Task 3 Checklist 39
Assessment Task 4 Cover Sheet 40
Assessment Task 4: Risk management process evaluation report 42
Assessment Task 4 Instructions 44
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 3 of 46
Assessment Information
The assessment tasks for BSBRSK501 Manage risk are included in this Student Assessment Tasks
ooklet and outlined in the assessment plan below.
To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task Overview
1. Written questions You must co
ectly answer all questions.
2. Risk management project You must prepare an initial report about risk associated with business
expansion for a case study organisation, participate in a roleplay
meeting with team members to
ainstorm risks, and develop a risk
management plan the case study organisation.
3. Risk management
implementation project
You must implement and monitor risk treatments for risks identified.
4. Risk management process
evaluation report
You must evaluate the risk management process.
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for
clarification if you have any questions at all.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment
Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per Queen Anne
Business College’s assessment appeals process.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with
unfairly or have other appropriate grounds for an appeal.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 4 of 46
Naming electronic documents
It is important that you name the documents that you create for this Assessment Task in a logical manner.
Each should include:
ï‚· Course identification code
ï‚· Assessment Task number
ï‚· Document title (if appropriate)
ï‚· Student name
ï‚· Date it was created
For example, BSBRSK01 AT2 Risk Management Plan Joan Smith 20/04/18
Additional Resources
You will be provided with the following resources you begin each Assessment Task.
Assessment Task 2
ï‚· Risk Management Policy and Procedures
ï‚· Risk Management Report Template
ï‚· Risk Management Plan Template
Assessment Task 3
ï‚· Customer Survey Results Memo
ï‚· Sales data analysis memo
ï‚· Staff survey results memo
ï‚· Performance review results memo
Assessment Task 4
ï‚· Risk Management Policy and Procedures
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 5 of 46
Assessment Instructions
Each assessment task in this booklet consists of the following:
Assessment Task Cover Sheet
This must be filled out, signed and submitted together with your assessment responses.
If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.
If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit
the file.
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will
e satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your
assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your
assessor will also discuss this ve
ally with you and provide advice on re-assessment opportunities as per
Queen Anne Business College’s re-assessment policy.
Depending on the task, this may include
ï‚· resubmitting inco
ect answers to questions (such as short answer questions and case studies)
ï‚· resubmitting part or all of a project, depending on how the e
or impacts on the total outcome of the
task
ï‚· redoing a role play after being provided with appropriate feedback about your performance
ï‚· being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily
completed the first time, after being provided with appropriate feedback.
Assessment Task Information
This gives you:
ï‚· a summary of the assessment task
ï‚· information on the resources to be used
ï‚· submission requirements
ï‚· re-submission opportunities if required
Assessment Task Instructions
These give questions to answer or tasks which are to be completed.
Your answers need to be typed up using software as indicated in the Assessment Task Instructions.
Copy and paste each task’s instructions into a new document and use this as the basis for your assessment
task submission. Include this document’s header and footer.
If you are submitting electronically, give the document a file name that includes the unit identification
number, the task number, your name and the date.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 6 of 46
Checklist
This will be used by your assessor to mark your assessment. Read through this as part of your preparation
efore beginning the assessment task. It will give you a good idea of what your assessor will be looking for
when marking your responses.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 7 of 46
Student Assessment Agreement
Make sure you read through the assessments in this booklet before you fill out and sign the agreement
elow.
If there is anything that you are unsure of, consult your assessor prior to signing this agreement.
Have you read the assessment requirements for this unit?  Yes  No
Do you understand the requirements of the assessments for this unit?  Yes  No
Do you agree to the way in which you are being assessed?  Yes  No
Do you have any specific needs that should be considered?  Yes  No
If so, explain these in the space below.
Do you understand your rights to re-assessment?  Yes  No
Do you understand your right to appeal the decisions made in an assessment?  Yes  No
Student name
Student number
Student signature
Date
Assessor name
Assessor signature
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 8 of 46
Date
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.0
Approved date: 10 May 2019 Review Date: 10 May 2020
Approved by CEO Page 9 of 46
Assessment Task 1 Cover Sheet
Student Declaration
To be filled out and submitted with assessment responses
 I declare that this task is all my own work and I have not cheated or
Answered Same Day Dec 04, 2021 BSBRSK501 Training.Gov.Au

Solution

Kalaivani answered on Dec 05 2021
141 Votes
Risk Management
Risk Management
NatureCare
[Pick the date]
[Type the company name]
Table of Contents
DEVELOP A RISK BRIEFING REPORT    2
DEVELOP A RISK MANAGEMENT PLAN    4
STAFF TRAINING OPTION    6
RISK MONITORING REPORT    8
EVALUATE    10
AREA AND SCOPE OF COVERAGE    10
RECOMMENDATION    11
REFERENCE    11
Assessment Task 2: Risk management project
DEVELOP A RISK BRIEFING REPORT
The motto of the risk analysis is to ensure NatureCare is aware and prepared for business risk associated with its cu
ent expansion plan. Risk management will include financial, operational, legal, economic, market risk. The critical success factor is to ensure the risk is identified and mitigated at an early stage.
    The political situation is friendly with no near turmoil.
    Economic condition is favorable with positive indicators such as GDP, BoP, and foreign exchange.
    Social setup is empowered with economic and social liberty.
    Technological advancements and ideas are widely accepted due to easy and cheap access to technology.
    Legal setup is robust for intellectual property, consumer protection, etc
    Environmental factors such as sustainable development, safe disposal, etc are the mantras.
All of the above-discussed factors have the potential to
ing down the expansion idea and also essential to understand the taste of the consumer.
    Risk Identification
    Risk Mitigation
    Internal Stakeholde
    External Stakeholde
    Business Risk
    Effective strategic planning
    The executive committee, employees
    
    Competition Risk
    Market Research
    
    Competitors and their refined business model
    Human Resource Risk
    Attracting and retain talents
    Employees, the HR department
    Job and labor market
    Financial Risk
    A reliable and cheap source of funds
    Financial planning committee
    Leaders and investors
    Reputation Risk
    Collaboration and marketing
    Brand Value
    Market
    Mode
    Strength
    Weakness
    Online
    Cheap and effective
Easy access to a distant market
Customer-friendly
    Lack of customer interaction
Data security
Customer inhibitions
    Store
    Customer relationship
Touch and feel product
Better trust
    High operational cost
Serve limited market
The critical success factors for expansion are (A) improved source of business revenue (B) increased market share.
Send an email to the CEO
Hi ,
On the wake of opening new stores, a new risk management policy has to be introduced which will focus on potential risk and means to encounter them. I have enclosed a
ief about risk management and its need.
Looking forward for your feedback on the proposal.
Send an email to your team
Hi team,
    On the coming Monday, we will have a detailed discussion regarding the expansion policy at NatureCare. Request all of you to suggest how to deal with the risk associated with the expansion program. Time and Venue will be updated by the end of this week.
DEVELOP A RISK MANAGEMENT PLAN
Since NatureCare is entering into untested water, there are possibilities of strategic decisions becoming tragic ones (called as business risk). The wrong team can also lead to a lack of understanding of the market (competitor's risk). Most often businesses tend to underestimate the impact of entering into a new market, uncertain customers and fierce competitors. In the absence of strong and motivated employees, the probability of success is a merger. Hence it is essential to hire a workforce that is a perfect mix of knowledge of the market, product, and self-driven. NatureCare is a well known and accepted
and in its market; however the same might not be true in the new market. The
and value and reputation of NatureCare is limited (reputation risk). All of the risks discussed above the...
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