Performance objective Report Risk Management Help
Report Risk Management Help | Performance ObjectiveReport Risk Management Help 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.
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 Assessment Task 2 Assessment Task 3
Risk review report, Risk analysis report,
action plan and risk Monitoring report
meeting with CEO
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 r to relevant stakeholders for their feedback and participation.
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:
Analyse and plan.
Once I have received your risk review report, we will need to discuss the steps that you will take in the risk
CEO MacVille Cafés (Qld)
Review the provided MacVille simulated business scenario information and documentation provided in the Appendices of this task.
Write a report for the CEO (your assessor) that addresses the following:
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.
Identify and describe the critical success factors, goals or objectives for areas included in the scope.
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.
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).
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.
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 flowcharts) and attachments to support your summary.
Submit your report as per the specifications on the next page. Be sure to keep a copy for your records.
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.
Send the email to the CEO (your assessor) for review and request a meeting to discuss identified risks and further risk management processes.
Meet with the CEO to:
discuss your findings, particularly your understanding of the critical success factors and goals
explain the MacVille risk management process
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
obtain the CEO’s support for ongoing risk management activities
ask the CEO for input on additional risks.
In dot-point form, summarise your discussion with the CEO. This should include any recommendations they made to you.
Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.