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BSB52015Diplomaof Business
BSBRSK501 Manage Risk
Summative assessment 2
Project 1
Name
Date of Submission
ProjectBrief
Thisprojectwill enable youtoproduce endproductssuitable foruse inthe workplace.
Design,developand documentariskmanagementplanrelatedto:
 the reductionof accidents,illnessorincidentsrelatingtoworkerorgeneral publicsafety
 the preventionof operational discontinuity
 the needfornewor innovative improvement/changesinprocessesorprocedures(andthe
associatedrisks)
 environmental impactissues—includingresource use andmanagement
You mightchoose anotherriskarearelevanttothe organisationforwhichyouwork.If you do you
will needtodescribe the organisationandthe riskbeing addressedintermsof industrysector
requirements.
Give clearand succinctreasonsfor initiatingandimplementingthe riskmanagementplan.
You will needto:
1 Establishthe contextof the risk.
2 Identifythe risk/s.
3 Analyse the risks.
4 Selectandplanriskmanagementtreatments.
Describe the processesfollowedtoaddressall of the settings:
 any currentriskmanagementpolicies,proceduresandprocessesandtheirstrengthsand
weaknesses
 the riskmanagementscope
 the impact thateach of the followinghasonthe organisation’sapproachtorisk
management:
o political environment
o economicclimate
o social factors
o legal factors
o technological advancements
o policycontext
 toolsand techniquesthatcanbe usedto identify,measure(quantify) andanalyse (assess)
risks
 critical successfactors,goalsor objectives
 relevantlegislation,regulationsorcodesof practice
 internal andexternal stakeholdergroupsandtheirissues
 communicationwitheachstakeholdergroups
 supportthat will be neededinorderforthe riskmanagementplantobe effective
 proceduresforprioritisingrisktreatments
Format yourriskidentification,analysisandimprovementplan/proposal (oractionplan) ina
mannerthat wouldbe acceptedbyseniormanagement.Ensure thatall riskscenarios are addressed
and cateredfor.
Submit:
 the plan
 answerstothe questions
 the planrationale
 toolsusedinthe assessmentprocessandinthe plandesignprocess
 any relevantsupportinformation,charts,graphsetc.
The plan mustclearlydescribe the risk,proposedactions,resource needs,responsiblepersons,time
frames,deadlines,expectedoutcomesandsuccessmetrics.
Plansshouldbe accompaniedbyrelevantstatistics,evidence of the analysisof data/information,
graphs,charts and tablesandany relevantbackgroundinformation.(Minimum2,000 words)
Table of Contents
Contents
1. What is the situation?............................................................................................................ 5
2. What are the risks associated with the situation?....................................................................5
3. How were the risks identified and assessed?...........................................................................5
4. What controls currently exist? ............................................................................................... 5
5. What is the desired situation?................................................................................................ 5
6. What are the risks associated with the desired situation?........................................................ 5
7. How have they beenidentified and assessed?.........................................................................5
8. How does the risk management plan act to reduce the impact or consequences of the risk/s? ..5
9. Doesit introduce any new risks?............................................................................................ 6
10. Who will the plan benefit and how will it be of benefit?....................................................... 6
11. Why shouldthe organisationsupportit?(considerqualitative andquantitativebenefits,
costs, PR, safety etc.).........................................................................................................6
12. What resourcesandwhat personnel wouldbe involvedindeveloping,implementingand
monitoring the planned risk controls?................................................................................. 6
13. What are the costfactors involved?.................................................................................... 6
14. How wouldyouensure thatthe risktreatmentwassponsoredandsupportedbythe
organisation? .................................................................................................................... 6
15. Whose authorisation would you need in order to go ahead withyour plan? ......................... 6
16. How would you determine performance expectations?....................................................... 6
17. How will you monitor the operation of the plan?.................................................................7
18. Who wouldbe responsible formonitoringthe riskcontrolsandwhywouldthisperson
(people) be most suited to the task?................................................................................... 7
19. How will youmeasure itssuccess?(i.e.whatmeasurementprocesseswillyouuse andwhat
will you measure its success against?)................................................................................. 7
ProjectResponse:
Please addressall the followingquestions:
1. What is the situation?
2. What are the risks associated with the situation?
3. How werethe risks identified and assessed?
4. What controls currently exist?
5. What is the desired situation?
6. What are the risks associated with the desired situation?
7. How have they been identified and assessed?
8. How does the risk management plan act to reduce the impact or consequences of the
risk/s?
9. Does it introduceany new risks?
10. Who will the plan benefit and how will it be of benefit?
11. Why should the organisation support it? (consider qualitative and quantitative benefits,
costs, PR, safety etc.)
12. What resources and what personnel would be involved in developing,implementing
and monitoring the planned risk controls?
13. What are the cost factors involved?
14. How would you ensure that the risk treatment was sponsored and supported by the
organisation?
15. Whose authorisation would you need in order to go ahead with your plan?
16. How would you determine performanceexpectations?
17. How will you monitor the operation of theplan?
18. Who would be responsiblefor monitoring the risk controls and why would this person
(people) be most suited to the task?
19. How will you measure its success? (i.e. what measurement processes will you useand
what will you measure its success against?)

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Bsbrsk501 manage risk_project_1_template

  • 1. BSB52015Diplomaof Business BSBRSK501 Manage Risk Summative assessment 2 Project 1 Name Date of Submission
  • 2. ProjectBrief Thisprojectwill enable youtoproduce endproductssuitable foruse inthe workplace. Design,developand documentariskmanagementplanrelatedto:  the reductionof accidents,illnessorincidentsrelatingtoworkerorgeneral publicsafety  the preventionof operational discontinuity  the needfornewor innovative improvement/changesinprocessesorprocedures(andthe associatedrisks)  environmental impactissues—includingresource use andmanagement You mightchoose anotherriskarearelevanttothe organisationforwhichyouwork.If you do you will needtodescribe the organisationandthe riskbeing addressedintermsof industrysector requirements. Give clearand succinctreasonsfor initiatingandimplementingthe riskmanagementplan. You will needto: 1 Establishthe contextof the risk. 2 Identifythe risk/s. 3 Analyse the risks. 4 Selectandplanriskmanagementtreatments. Describe the processesfollowedtoaddressall of the settings:  any currentriskmanagementpolicies,proceduresandprocessesandtheirstrengthsand weaknesses  the riskmanagementscope  the impact thateach of the followinghasonthe organisation’sapproachtorisk management: o political environment o economicclimate o social factors o legal factors o technological advancements o policycontext  toolsand techniquesthatcanbe usedto identify,measure(quantify) andanalyse (assess) risks  critical successfactors,goalsor objectives  relevantlegislation,regulationsorcodesof practice  internal andexternal stakeholdergroupsandtheirissues  communicationwitheachstakeholdergroups  supportthat will be neededinorderforthe riskmanagementplantobe effective  proceduresforprioritisingrisktreatments Format yourriskidentification,analysisandimprovementplan/proposal (oractionplan) ina mannerthat wouldbe acceptedbyseniormanagement.Ensure thatall riskscenarios are addressed and cateredfor.
  • 3. Submit:  the plan  answerstothe questions  the planrationale  toolsusedinthe assessmentprocessandinthe plandesignprocess  any relevantsupportinformation,charts,graphsetc. The plan mustclearlydescribe the risk,proposedactions,resource needs,responsiblepersons,time frames,deadlines,expectedoutcomesandsuccessmetrics. Plansshouldbe accompaniedbyrelevantstatistics,evidence of the analysisof data/information, graphs,charts and tablesandany relevantbackgroundinformation.(Minimum2,000 words)
  • 4. Table of Contents Contents 1. What is the situation?............................................................................................................ 5 2. What are the risks associated with the situation?....................................................................5 3. How were the risks identified and assessed?...........................................................................5 4. What controls currently exist? ............................................................................................... 5 5. What is the desired situation?................................................................................................ 5 6. What are the risks associated with the desired situation?........................................................ 5 7. How have they beenidentified and assessed?.........................................................................5 8. How does the risk management plan act to reduce the impact or consequences of the risk/s? ..5 9. Doesit introduce any new risks?............................................................................................ 6 10. Who will the plan benefit and how will it be of benefit?....................................................... 6 11. Why shouldthe organisationsupportit?(considerqualitative andquantitativebenefits, costs, PR, safety etc.).........................................................................................................6 12. What resourcesandwhat personnel wouldbe involvedindeveloping,implementingand monitoring the planned risk controls?................................................................................. 6 13. What are the costfactors involved?.................................................................................... 6 14. How wouldyouensure thatthe risktreatmentwassponsoredandsupportedbythe organisation? .................................................................................................................... 6 15. Whose authorisation would you need in order to go ahead withyour plan? ......................... 6 16. How would you determine performance expectations?....................................................... 6 17. How will you monitor the operation of the plan?.................................................................7 18. Who wouldbe responsible formonitoringthe riskcontrolsandwhywouldthisperson (people) be most suited to the task?................................................................................... 7 19. How will youmeasure itssuccess?(i.e.whatmeasurementprocesseswillyouuse andwhat will you measure its success against?)................................................................................. 7
  • 5. ProjectResponse: Please addressall the followingquestions: 1. What is the situation? 2. What are the risks associated with the situation? 3. How werethe risks identified and assessed? 4. What controls currently exist? 5. What is the desired situation? 6. What are the risks associated with the desired situation? 7. How have they been identified and assessed? 8. How does the risk management plan act to reduce the impact or consequences of the risk/s?
  • 6. 9. Does it introduceany new risks? 10. Who will the plan benefit and how will it be of benefit? 11. Why should the organisation support it? (consider qualitative and quantitative benefits, costs, PR, safety etc.) 12. What resources and what personnel would be involved in developing,implementing and monitoring the planned risk controls? 13. What are the cost factors involved? 14. How would you ensure that the risk treatment was sponsored and supported by the organisation? 15. Whose authorisation would you need in order to go ahead with your plan? 16. How would you determine performanceexpectations?
  • 7. 17. How will you monitor the operation of theplan? 18. Who would be responsiblefor monitoring the risk controls and why would this person (people) be most suited to the task? 19. How will you measure its success? (i.e. what measurement processes will you useand what will you measure its success against?)