BSBRSK501 Manage RiskAssessment 1 – Written responses and projectPART ATask summaryYou are required to answer all of the following 11 questions. You need to answer all of the writtenquestions correctly. Please answer the questions using word processing software.Required• Access to student workbook/other learning materials• Computer and Microsoft Office• Access to the internetAssessment criteriaAll questions must be answered correctly in order for you to be assessed as having completedthe task satisfactorily.Written answer question guidanceThe following written questions use a range of “instructional words” such as “identify” or“explain”, which tell you how you should answer the question. Use the definitions below toassist you to provide the type of response expected.Note that the following guidance is the minimum level of response required.Analyse – when a question asks you to analyse something, you should do so in detail, and identifyimportant points and key features. Generally, you are expected to write a response one or twoparagraphs long.Compare – when a question asks you to compare something, you will need to show how two ormore things are similar, ensuring that you also indicate the relevance of the consequences.Generally, you are expected to write a response one or two paragraphs long.Contrast – when a question asks you to contrast something, you will need to show how two ormore things are different, ensuring you indicate the relevance or the consequences. Generally,you are expected to write a response one or two paragraphs long.Discuss – when a question asks you to discuss something, you are required to point outimportant issues or features and express some form of critical judgement. Generally, you areexpected to write a response one or two paragraphs long

Describe – when a question asks you to describe something, you should state the mostnoticeable qualities or features. Generally, you are expected to write a response two or threesentences long.Evaluate – when a question asks you to evaluate something, you should put forward argumentsfor and against something. Generally, you are expected to write a response one or twoparagraphs long.Examine – when a question asks you to examine something, this is similar to “analyse”, whereyou should provide a detailed response with key points and features and provide critical analysis.Generally, you are expected to write a response one or two paragraphs long.Explain – when a question asks you to explain something, you should make clear how or whysomething happened or the way it is. Generally, you are expected to write a response two orthree sentences long.Identify – when a question asks you to identify something, this means that you are asked tobriefly describe the required information. Generally, you are expected to write a response two orthree sentences long.List – when a question asks you to list something, this means that you are asked to briefly stateinformation in a list format.Outline – when a question asks you to outline something, this means giving only the main points,Generally, you are expected to write a response a few sentences long.Summarise – when a question asks you to summarise something, this means (like “outline”) onlygiving the main points. Generally, you are expected to write a response a few sentences long

Provide answers to all of the questions below:

1. Discuss the purpose of risk management standards. Include an example of a riskmanagement standard in your answer.2. Outline the AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelinesand each of the 11 principles.

3. Explain the requirements of WHS legislation in relation to risk management.

4. List the factors that must be taken into account in determining risk controlmeasures for hazardous manual tasks as stated in the model Work Health andSafety Regulations 2011.

5. Explain the purpose of risk management policies and procedures in theworkplace.

6. List three examples of the impact of risks for a workplace if risks are notidentified or actioned.

7. Outline a step-by-step procedure that companies can use for analysing risks.

8. Outline three sources of information that a company could use to gatherinformation on potential risks.

9. Describe three examples of tools or techniques that a company could use toidentify risks as part of a risk assessment process.

10. Explain four options that a company could take to control risks.

11. Explain four procedures that a company could use to minimise risk.

PART B

Task summaryThis assessment task requires you, in the role of Operations Manager of NatureCare Products, todevelop a risk management briefing report associated with the proposed business expansion. Youwill then prepare for a meeting with their team by researching risks, as well as potential risktreatment options pertaining to the NatureCare Products business expansion project.Following this, you will meet with their team to brainstorm risks and develop a risk managementplan, which includes an action plan to implement identified risk treatments.This assessment is to be completed in the simulated work environment in the RTO.Required• Access to textbooks/other learning materials• Computer with Microsoft Office• Access to the Internet to:o research information to inform PESTLE analysis access publications about riskmanagement standards such as:http://broadleaf.com.au/resource-material/iso-3100…• Risk Briefing Report Template• Risk Management Policy and Procedures• Risk Management Plan Template• Team Meeting Minutes• Space for a meeting, with a whiteboard, if possible.• Roleplay participantsTimingYour assessor will advise you of the due date of these submissions

Submit• Risk briefing report.• Email to team inviting them to a meeting.• Risk management plan.Assessment criteriaFor your performance to be deemed satisfactory in this assessment task, you must satisfactorilyaddress all of the assessment criteria. If part of this task is not satisfactorily completed, you will beasked to complete further assessment to demonstrate competence.Re-submission opportunitiesYou will be provided feedback on their performance by the Assessor. The feedback will indicate ifyou have satisfactorily addressed the requirements of each part of this task.If any parts of the task are not satisfactorily completed, the assessor will explain why, and provideyou written feedback along with guidance on what you must undertake to demonstrate satisfactoryperformance. Re-assessment attempt(s) will be arranged at a later time and date.You have the right to appeal the outcome of assessment decisions if you feel that you have beendealt with unfairly or have other appropriate grounds for an appeal.You are encouraged to consult with the assessor prior to attempting this task if you do notunderstand any part of this task or if you have any learning issues or needs that may hinder youwhen attempting any part of the assessment.

Carefully read the following:

You are the Operations Manager of a medium-sized Australian company, NatureCare Products,based in Brisbane. The company commenced business in 1996, and manufactures eco-friendly, highquality beauty skin care products.The business was established to cater for a growing demand for skin products that contain ecofriendly and natural ingredients. There is also an emphasis on eco-friendly packaging. The companymakes all its products in a small factory.The company sells its products direct to a chain of health food shops across Australia, as well asonline through its own web site. Products ordered online are shipped directly to customers from thefactory. Products provided to health food shops are provided to the health food shop distributor whothen distributes the products to all its stores. The relationship with the chain of health food shops is along-standing one (ten years).The company targets customers that want high quality, eco-friendly products. Market research hasidentified that around 70% of their customers are professional women aged 25 to 55.NatureCare Products’ strategic priorities focus on business diversification and growth. They aim toincrease their market share by 10%, and to expand the existing product range to attract morecustomers.At a recent board meeting, the two company shareholders and the CEO discussed options forexpanding the business, including establishing a chain of retail outlets. The idea is to initially set upone retail outlet in central Sydney, Brisbane and Melbourne. Products will continue to be made in thecompany’s factory and shipped to the retail outlets.The CEO has asked you to investigate this, undertaking a risk analysis on establishing a chain of retailoutlets. The CEO and shareholders are keen to get the business expansion started as soon as possible,so you need to get your risk management plan in place immediately.Currently the company employs the following staff: Accounts Manager, Marketing Manager,Marketing Assistant, Sales Manager, four customer service representatives, Office Manager andAdministration Assistant, Operations Manager, as well as the CEO and two shareholders as indicatedabove.The company currently has a Risk Management Policy and Procedures in place that incorporates theAS/NZS ISO31000:2009 Risk Management Principles and Guidelines.

Complete the following activities:

1. Develop a risk briefing report.Review the case study information provided to you, as well as the company’s riskmanagement policy and procedures to determine the scope of the risk managementprocess required.Use the internet to search for relevant information on risk management standards.You should also review the recent Team Meeting Minutes on the business expansionproject to inform your report.Use the Risk Briefing Report Template to guide your work.Your report will be sent to the CEO for initial feedback and then you will meet withyour team to brainstorm further risks associated with the business expansionproject.Your report should include the following:• Introduction, including the purpose of the risk analysis• The scope of the risk management process, any risks that may apply to thescope, and objectives and critical success factors for the area included in thescope• An outline of the risk management process as per the organisation’s policy andprocedures, as well as how the organisation’s process aligns with the riskmanagement standards as identified in the link provided to you.• A PESTLE analysis identifying the key factors that impact on the environment inwhich NatureCare Products operates and their relevance to the riskmanagement process. You should also use this analysis to identify importantfactors that may influence consumer needs and desires as part of analysis ofexternal stakeholders, as well as to inform the key risks you identify below.• You are also required to identify at least five risks identified with the expansion,and at least one potential risk treatment option for each of the risks youidentify.• Identification and analysis of internal and external stakeholders and the issuesthey may have that are likely to impact on the risk management process.• An analysis of the strengths and weaknesses of the company’s existing retailapproach namely, online and through health food shops.• Analysis of critical success factors, goals or objectives for the business expansionproject.

2. Send an email to the CEO (your assessor).The text of the email should be in grammatically correct English, written in anappropriate (polite, business-like) style.It should provide a brief overview of the risk management project, introduce andsummarise the contents of the attachment, and seek their feedback and approval tomove forward with the project.Attach your risk briefing report to the email.Your assessor will send you an email in the role of the CEO, providing you withfeedback and approval to proceed.

3. Send an email to your team (your assessor).The text of the email should be in grammatically correct English, written in anappropriate (polite, business-like) style.It should invite the team to participate in a meeting to brainstorm risks associatedwith the company’s proposed expansion.Your email should briefly explain the purpose of the meeting and advise of the dateand time for the meeting (your assessor will advise you of the date and time and alsoprovide you with the email addresses of the two students who will be your team).The meeting is to run for approximately 30 minutes.

4. Conduct team meetingAfter giving a short introduction, present to your team the risks that you haveidentified, as well as the treatment measures you have selected. Refer to your RiskBriefing Report and share your ideas, encouraging the meeting attendees to sharetheirs.Steer this discussion into a brainstorming session.Take paper and pen with you, or use a whiteboard, to jot down ideas as they aregiven.At the meeting, you are required to:• Clearly explain the risk management process as per the organisation’s policyand procedure.• Discuss the risks you have identified and potential risk treatments• Seek ideas from the team about risks involved in the business expansion, as wellas treatment measures• Agree on the most important risks that should be included in the riskmanagement plan, as well as suitable risk treatments. At least five must beidentified.During the meeting, you will need to demonstrate effective communication skillsincluding:• Speaking clearly and concisely• Using non-verbal communication to assist with understanding• Asking questions to identify required information• Responding to questions as required• Using active listening techniques to confirm understandingClose the meeting by thanking the participants for attending.

5. Develop a Risk Management PlanThe final part of the assessment task requires you to develop a risk managementplan using the Risk Management Plan Template.Your risk management action plan needs to include the following two risks:• Inefficient resource usage• Low customer satisfaction with customer service.You will be implementing treatments for these two risks in the following task, somake sure that the treatments you recommend are practical and that you canactually complete them in the simulated business environment within the classroom.Your risk management plan should include:• The risks you have identified based on your research and brainstorming session.You must include at least four risks of your own, and the two risks that havebeen provided above.• An assessment of the likelihood of the risk occurring, as well as the severity ofthe risk should it occur.• Identification of at least one suitable treatment measure for each of the sixrisks. Priority rating (high, medium or low) to show the order in which risks mustbe treated.• A risk action plan that sets out for each risk including:o Risk descriptiono Impact of risko Recommended actionso Resource requirementso Timelineso Responsibilitieso Monitoring processes

6. Send an email to the CEO (your assessor).The text of the email should be in grammatically correct English, written in anappropriate (polite, business-like) style.The email text should include the following:• Summary of the purpose of the Risk Management Plan• An outline of the risks most likely to occur in relation to the business expansionproject.• Why you believe the identified treatment strategies for each of the risks will beeffective in ensuring risks are minimised or do not occur.Attach your risk management plan to the email.