Reference no: EM13747023
This assessment project is to be completed in addition to the learning and assessment activities you complete in class. The project is designed to assess the knowledge and skills you have to manage risk.
If you are not sure about any aspect of the assessment or would like to discuss your particular needs, please speak to your trainer. Your trainer will tell you the date you need to submit your assignment.
All parts of the project will be given to you at the same time. You need to complete all parts and submit them together by the due date. This will be in the last week of classes for the unit.
This project assignment is to be completed using the "Shoez" case study. It is included in the "Additional Information" section.
The checklist and scope of submission table will identify the records that you are required to prepare and submit (as a single submission).
Your assignment must be typed (in 12 point type on A4 paper) and attached to the front page of this assessment document, which you need to complete as an Assessment Cover Page.
Make sure you keep a copy of your assignment before you hand it in to your trainer.
This assessment project requires you to establish the context of the risks associated with an organization or within a part of the organization. You are required to complete this part using the case study on "Shoez" given in the additional information.
You are required to prepare a report of at least 800 words and include the following.
a) Write a description of the context of at least 5 risks you will be focusing on for this activity. Include the following:
• A review of the existing risk management approach used by the business unit or organization
• The scope for the risk management process (i.e. Whole organization, specific__ project, etc)
• The political, economic, social, policy, legal and/or technological contexts
• The strengths and weaknesses of existing risk management arrangements
• Critical success factors, goals and objectives
a) Prepare and deliver a presentation to relevant parties about the risk management process and gather their feedback and ideas. (Your class mates and trainer could represent the relevant parties)
b) Conduct a detailed analysis of key stakeholders. List the issues and concerns raised by the various stakeholders.
Building on your description of the context of risks for your business unit from part 1, you are now required to use a range of methods to identify risks.
You are required to prepare a report of minimum 700 words to complete the given tasks
a) In consultation with relevant parties develop a list of sources of information you will use to assist you identify risks that apply to the scope you identified in part 1.
b) Use these sources of information to research the risks that may apply to scope.
c) In consultation with relevant parties, use at least two different tools or techniques to generate a list of risks that apply to the scope. (Tools and techniques may include brainstorming, checklists, fishbone diagrams, flowcharts etc)
Part 2. Checklist and Scope of Submission
Before you hand in part 2, use the checklist below to make sure you have completed all the tasks and have included all relevant information.
• Listed the sources of information used to research risk
• Generated a list of risks that apply to scope
• Evidence of the tools and techniques used (eg. notes from brainstorming, checklists)
This task requires you to analyze the likelihood and impacts of the risks you have identified and evaluate and prioritise them for treatment. Use the information gathered in previous parts and also the case study given complete the given tasks.
Prepare a report of at least 600 words and include the following.
a) Select at least S risks you have been examining and compile a risk categorization table showing your assessment of the likelihood of the risks occurring and the impact on the organization if they do occur. You may wish to use the matrix on page 7.
b) Evaluate and prioritise these risks for treatment by rank ordering them.
This part requires you to develop a treatment plan to address the identified risks. Using the information gathered in part 1 to 3 and using the additional information given complete the given tasks.
You are required to prepare a report of at least 1000 words to complete the following.
a) Develop an action plan to address identified risks. Include the following in your plan:
o Treatment options
o Actions required
o Who is responsible
o Time frames
o Monitoring processes
a) Prepare and deliver a presentation to relevant parties that explains the risk management process. (Your class mates and trainer could represent the relevant parties)
a) Explain the process you would use to implement the risk treatment plan.
b) Describe the strategies you would use to monitor and review the risk treatments you have planned.
c) Outline the sources of information you will need to use to review the effectiveness of your risk management strategies.
d) Describe the process you will follow to ensure accuracy of and appropriate storage of all documentation.