This assessment task requires candidates to demonstrate the skills and knowledge necessary to identifying risk and planning risk treatment in the context of a simulated business.
Assessment description
To complete this assessment task, you will need to review a simulated business and associated documentation, identify and document risks, analyse and evaluate risks to determine level of risk for the organisation, and plan to treat risk. You will need to perform these activities in accordance with organisational requirements and the international and Australian standard for risk management, AS/NZS ISO 31000:2009.
Procedure
1. Review the simulated business information for MacVille in the Appendices of your Student Workbook.
2. Review the scenario information contained in the Appendices of this assessment task.
3. Identify the internal and external context for risk management with respect to the MacVille scenario.
4. Identify minimum fourrisksfor MacVille (using tools such asSWOT analysis, checklists, research notes, notes of meetings with stakeholders, etc.)
5. Analyse each identified risk to identify likelihood/probability and consequence of each risk.
6. Determine the level of risk for each risk.
7. Proposepossible control measurement s for each risk identified above.
8. Determine what resourcesare required ANDwho are the responsible persons for each control measurement.(Resources may include financial resources, human resources, equipment or any otherresources you think is necessary to implement your proposed control measurements.)
9. Identify who you can consult(from internal and external parties) to assist your analysis and evaluation of risk ANDprepare minimum of
10 questionsfor your consultation.
10. Submit a detailed report which include the following :
a) Answers for items 3 - 9 above
b) Completed risk template (refer to appendix 2)
c) Completed risk treatment action plan template (refer to appendix 3)
Instructions / Reminders
1. Submit the completed assessment on the specific date, time and location as advised by your assessor.
2. This is an individual (or group) assessment task.
3. You are required to provide answer for ALL sections or questions in this assessment task.
4. All assessment answer must be typed using Microsoft Word (font size :12, font : Arial or Times New Roman) and presented in the appropriate format approved and instructed by trainer.
5. You are NOT allowed to copy straight from any internet-based or written materials available.
6. You are strongly encouraged to use your own words to attempt this assessment.
7. You are required to provide proper and appropriate referencing (if applicable).
8. You are NOT allowed to copy or attempt to copy the work of another student or permit another student to copy or attempt to copy your work.
9. Severe penalties shall apply for copying, plagiarism and any improper use of materials or ignoring instructions given by trainer. Penalties may include failure of the unit and exclusion from the college.
10. It is your responsibility to attend to your classes and seek assistance from trainer if needed.
Your role and task
You have recently been assigned to work in a project team charged with the implementation of the new business endeavour for MacVille. Your duties within the project team include:
- risk identification
- analysis
- evaluation
- implementing and monitoring risk treatment, particularly in own areas of specific responsibility: communications, training, demonstrating procedures for affected managers and staff.
As the project leader, you will need to identify possible risks, particularly risks with strategic impact for MacVille. Some research, for example, internet research of PNG conditions or legislative requirements, may be necessary to identify risk and establish context. In accordance with the relevant risk management standard, you will need to analyse and evaluate risks, ensuring you consult with stakeholders to assist you with this important task.
In accordance with MacVille requirements, you will need to follow MacVille risk management policy and framework and reporting requirements. MacVille requires the completion of a risk register for each venture or project and a risk treatment action plan.
It is now the beginning of the first quarter of the financial year. MacVille expects risk management activities to have begun (or be ongoing) simultaneously with implementation of production by end of second quarter.
Attachment:- Appendices.rar