Reference no: EM132824489

BSBRSK401 Identify risk and apply risk management processes

Assessment Task 1: Written Questions

1. Provide a definition of risk as identified in the Australia/New Zealand Standard for Risk Management (AS/NZS ISO 31000:2009).

2. Explain the purpose of Australia/New Zealand Standard for Risk Management (AS/NZS ISO 31000:2009) and identify the key principles underlying this risk management standard.

3. Outline at least five benefits of risk management.

4. Outline three general areas of risk for a business.

5. Outline three examples of tools or techniques that could be used to identify risks as part of a risk assessment process.

6. Outline three sources of information that can be used to gather information on potential risks within the workplace.

7. Outline the key organisational policies, procedures or steps involved in a risk management process.

8. Explain five options for controlling risk.

9. Outline five ways in which an organisation can minimise risk.

10. Outline the requirement under WHS legislation to manage risks.

11. Outline the purpose of auditing risk within an organisation.

12. Outline the key elements of AS/NZS ISO 31000:2009 standard.

13. Describe the organisation's auditing requirements in context of risk management.

Assessment Task 2: Risk identification and analysis project

Task summary
This assessment task requires you, in the role of Operations Team Leader at NatureCare Products, to identify, analyse and evaluate human resources risks associated with establishing new retail outlets for the company. This will involve identifying risks and then meeting with the CEO to consult on the risks you have identified. Following this, you are required to document risks and control measures in a risk register.

Assessment Task 2 Instructions

Carefully read the following:

NatureCare Products is an Australian company based in Brisbane. The company commenced business in 1996 and manufactures and eco-friendly, high quality beauty skin care products. The business was established to cater for a growing demand for skin products that contain eco-friendly and natural ingredients. There is also an emphasis on eco-friendly packaging.

The company sells its products in health food shops across the country, as well as on-line through its own web site. The company targets customers that want high quality, eco-friendly products. Market research has identified that around 70% of customers are professional women aged 25 to 55.

The company currently has a small range of products that include:
• Cleansing creams to soothe skin during make-up removal. Primary ingredients include Shea butter to nourish the skin and plants extracts that are also rich in essential oils with regenerating and anti- inflammatory properties. This product will be for delicate and mature skins and could also be used as a baby cream.
• Multi Protection Day Moisturizing Creams for dry to normal skin types that help protect the skin during the day and includes Shea butter and extracts from fragile green algae that provides hydrating and protective properties.
• Regenerating facial scrub to clean off dead skin cells to promote regeneration of healthy new cells. This product will be used for most skin types.

The strategic objectives of the company are to increase market share by 20% At a recent board meeting the two company shareholders and the CEO discussed options for expanding the business and have decided to establish a chain of retail outlets in central Sydney, Brisbane and Melbourne within the next six months.

The company is also currently developing more products focusing on a range of products to meet particular skin needs rather than a one-size fits all. The new products are timed to be ready for sale at the same time as the opening of the new retail outlets.

As part of the expansion planning process, the CEO has asked each team leader to identify risks associated with their area.

As the Operations Team Leader (reporting to the General Manager) with responsibility for human resources, it is your responsibility to identify human resources risks associated with the expansion of the company. You are also required to consider other risks associated with the expansion to the business.

Complete the following activities:

1. Write a Risk Identification Report.
Review the scenario information, as well as the Risk Management Policy and Procedures. Then develop an initial list of risks, based on the process outlined in the Policy and Procedures to discuss at a meeting with your Manager (your assessor).

You are required to document all human resources risks associated with the expansion. As a guide, this should be at least five risks.

As set out in the Policy and Procedures, develop a short report on the context for the risk management process as well as the risks you have identified. For each of the risks that you identify, suggest potential treatment measures for discussion, including the strengths and weaknesses of measures of each for discussion at the meeting.

Use the Risk Identification Report Template to guide your work.

As you are also required to consider not only risks in your own area, but also to identify more than two risks associated with the expansion to the business as a whole. You will need to discuss this at the meeting with your Manager so that you can be referred to the relevant area.

Prior to the meeting, review also the Risk Register that you will need to complete and familiarize yourself with risk assessment, including assessing the severity and likelihood of a risk, and overall risk rating.

2. Send an email to your assessor.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment. Attach your risk identification report to the email.

3. Participate in a meeting with your manager (your assessor).
At the meeting, go through each of the risks that you have identified, as well as the questions you considered to identify the risks.
In addition, advise your manager of the additional general business risk(s) that you identified to inform the overall risk management process for the expansion.
Discuss the likelihood and the severity of each risk, and its overall risk rating as set out in the Risk Register.
Discuss also possible treatments for each risk. For each treatment, identify and discuss their strengths and weaknesses asset out in your report.

Agree on risks that need to be documented in the Risk Register as set out in the Policy and Procedures, as well as actions (treatment control measures) that should be taken for each risk.

During the discussion with your manager, be sure to identify any risks that are beyond your own area of responsibility, and refer these to your manager.

During the meeting, you will need to demonstrate effective communication skills including:
• Asking questions to seek ideas and opinions
• Responding to questions about risk management activities
• Use of active listening techniques to confirm and clarify understanding

4. Complete the Risk Register.
Use the Risk Register Template to guide your work. Your Risk Register should include the following:
• Documenting all of the risks as discussed at your meeting.
• Including an analysis of each risk including the likelihood of the risk occurring, as well as the severity of the risk should it occur, as well as an overall risk rating.
• Documenting risk control measures.
• Document actions for each identified risk including:
• A risk action plan that sets out for each risk including:
o Risk description
o Impact of risk
o Recommended actions
o Resource requirements
o Timelines
o Responsibilities
o Monitoring processes

5. Send an email to your assessor.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment.

Assessment Task 3: Risk treatment implementation and evaluation project

Task summary
This assessment task requires you to implement, as well as evaluate a control measure that you identified for a risk from Assessment Task 2.

Assessment Task 3 Instructions

Carefully read the following:

Complete the following activities:

1. Develop a training options report.
Review the case study information, then research a range of potential training options for the customer service representatives, including both on and off the job options. Identify at least three suitable options.

Then develop a short report for the CEO (your assessor), outlining your recommended option(s) for the training, including a rationale for your recommendation(s). Include the details of each recommended training option, including a summary of the training to be provided and outcomes, location, costs and duration as applicable. If you have recommended on the job options you will need to outline a plan for undertaking this form of training.

As a guide, your report should be 1 to 2 pages long.

2. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment, and seek their feedback and approval to move forward with the project.

Attach your training options report to the email.

3. Send an email to the two staff members (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should provide details of the training options researched, so that the staff understand the training that they need to participate in.

All details should be provided, including timing, location, and duration.

4. Write a training effectiveness report.
Assume that a staff survey has been sent to the two members of staff completing the training. Review and analyse the Training Survey Results.

Based on your review and analysis, comment on the effectiveness of the training undertaken by the staff members to date and your recommendations for any further actions.

Note that the measure of success of this initiative was identified as being that the staff will have successfully completed training and feel able to step into the new roles. You should therefore also comment on the effectiveness of the measure in this regard.

Your training evaluation report should be between half a page and a page long.

5. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

It should introduce and summarise the contents of the attachment, and seek their feedback and approval to move forward with the project.

Carefully read the following:

6. Send an email to the CEO (your assessor).
Based on the above case study information, send a short email to the CEO, outlining the situation.
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should and identify at least two further risk control measures which you believe should be put in place.

7. Assist with auditing of risk in own area.
Assume that you have been asked to provide input on the NatureCare Products risk management process that you undertook.
Research best practice risk management processes, and identify at least one area of the process you participated in that could be improved.

8. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should identify at least one area of the process you participated in that could be improved.
The email text should also identify whether there are specific procedures for the provision of training to staff on risk management.
It should list any changes that would you recommend to the risk management process.

Attachment:- risk management processes.rar