-1428751599565BSBOPS504
28575-86741000
-1428751599565BSBOPS504
Manage business risk
Learner Workbook
00BSBOPS504
Manage business risk
Learner Workbook
Table of Contents
TOC o "1-3" h z u Assessment instructions PAGEREF _Toc86656321 h 2Assessment requirements PAGEREF _Toc86656322 h 3Candidate Details PAGEREF _Toc86656323 h 4Assessment BSBOPS504 - Manage business risk PAGEREF _Toc86656324 h 4Case Study A PAGEREF _Toc86656325 h 5Formative Assessment PAGEREF _Toc86656326 h 7Activity 1A PAGEREF _Toc86656327 h 7Assessors feedback for Activity 1A PAGEREF _Toc86656328 h 10Activity 1B PAGEREF _Toc86656329 h 11Assessors feedback for Activity 1B PAGEREF _Toc86656330 h 12Activity 2A PAGEREF _Toc86656331 h 13Assessors feedback for Activity 2A PAGEREF _Toc86656332 h 17Case Study B PAGEREF _Toc86656333 h 18Activity 3A PAGEREF _Toc86656334 h 20Assessors feedback for Activity 3A PAGEREF _Toc86656335 h 23Activity 4A PAGEREF _Toc86656336 h 24Assessors feedback for Activity 4A PAGEREF _Toc86656337 h 30Summative Assessments PAGEREF _Toc86656338 h 31Section A: Skills Activity PAGEREF _Toc86656339 h 32Section B: Knowledge Activity (Q & A) PAGEREF _Toc86656340 h 33Assessors feedback for Summative Assessments: Section B checklist PAGEREF _Toc86656341 h 37Section C: Performance Activity PAGEREF _Toc86656342 h 39Case Study C: Risk Management Process PAGEREF _Toc86656343 h 40Assessors feedback for Summative Assessments: Section C checklist PAGEREF _Toc86656344 h 45Competency record to be completed by assessor PAGEREF _Toc86656345 h 47
Instructions to Learner
Assessment instructionsOverviewPrior to commencing the assessments, your trainer/assessor will explain each assessment task and the terms and conditions relating to the submission of your assessment task. Please consult with your trainer/assessor if you are unsure of any questions. It is important that you understand and adhere to the terms and conditions, and address fully each assessment task.
Written workAssessment tasks are used to measure your understanding and underpinning skills and knowledge of the overall unit of competency. When undertaking any written assessment tasks, please ensure that you address the following criteria:
Address each question including any sub-points
Demonstrate that you have researched the topic thoroughly
Cover the topic in a logical, structured manner
Your assessment tasks are well presented, well referenced and word processed
Active participationIt is a condition of enrolment that you actively participate in your studies. Active participation is completing all the assessment tasks on time.
PlagiarismPlagiarism is taking and using someone else's thoughts, writings or inventions and representing them as your own. Plagiarism is a serious act and may result in a learners exclusion from a course. When you have any doubts about including the work of other authors in your assessment, please consult your trainer/assessor. The following list outlines some of the activities for which a learner can be accused of plagiarism:
Presenting any work by another individual as one's own unintentionally
Handing in assessments markedly similar to or copied from another learner
Presenting the work of another individual or group as their own work
Handing in assessments without the adequate acknowledgement of sources used, including assessments taken totally or in part from the internet.
If it is identified that you have plagiarised within your assessment, then a meeting will be organised to discuss this with you, and further action may be taken accordingly.
CollusionCollusion is the presentation by a learner of an assignment as their own that is, in fact, the result in whole or in part of unauthorised collaboration with another person or persons. Collusion involves the cooperation of two or more learners in plagiarism or other forms of academic misconduct and, as such, both parties are subject to disciplinary action.
Competency outcomeThere are two outcomes of assessments: S = Satisfactory and NS = Not Satisfactory (requires more training and experience).Once the learner has completed all the assessments for this unit of competency, the learner will be awarded Competent (C) or Not Competent (NC) for the relevant unit of competency.
Confidentiality
The college will treat anything, including information about your job, workplace, employer, with strict confidence, in accordance with the law. However, you are responsible for ensuring that you do not provide us with anything regarding any third party including your employer, colleagues and others, that they do not consent to the disclosure of. While we may ask you to provide information or details about aspects of your employer and workplace, you are responsible for obtaining necessary consents and ensuring that privacy rights and confidentiality obligations are not breached by you in supplying us with such information.Assessment appeals processIf you feel that you have been unfairly treated during your assessment, and you are not happy with your assessment and/or the outcome as a result of that treatment, you have the right to lodge an appeal. You must first discuss the issue with your trainer/assessor. If you would like to proceed further with the request after discussions with your trainer/assessor, you need to lodge your appeal via the complaint and appeal form which is available on the college website.
Recognised prior learningLearners will be able to have their previous experience or expertise recognised on request.
Special needsLearners with special needs should notify their trainer/assessor to request any required adjustments as soon as possible. This will enable the trainer/assessor to address the identified needs immediately.
Assessment requirementsAssessment can be:
Direct observation
Product-based methods e.g. reports, role plays, work samples
Portfolios annotated and validated
Questioning.
The assessment activities in this workbook assess aspects of all the elements, performance criteria, skills and knowledge and performance requirements of the unit of competency.
To demonstrate competence in this unit, you must undertake all activities in this workbook and have them deemed satisfactory by the assessor. Once you have demonstrated the required level of performance, you will be deemed competent in this unit.
As part of the assessment process, all learners must abide by any relevant assessment policies as provided during induction.
Candidate DetailsAssessment BSBOPS504 - Manage business riskPlease complete the following activities and hand in to your trainer/assessor for marking. This forms part of your assessment for BSBOPS504 - Manage business risk
Name: _____________________________________________________________
Learner ID: ______________________________________________________________
Email:_____________________________________________________________
Declaration
I declare that no part of this assessment has been copied from another persons work with the exception of where I have listed or referenced documents or work and that no part of this assessment has been written for me by another person. I also understand the assessment instructions and requirements and consent to being assessed.
Signed:____________________________________________________________
Date:____________________________________________________________
If activities have been completed as part of a small group or in pairs, details of the learners involved should be provided below:
This activity workbook has been completed by the following persons and we acknowledge that it was a fair team effort where everyone contributed equally to the work completed. We declare that no part of this assessment has been copied from another persons work with the exception of where we have listed or referenced documents or work and that no part of this assessment has been written for us by another person.
Learner 1:____________________________________________________________
Signed:____________________________________________________________
Learner 2:____________________________________________________________
Signed:____________________________________________________________
Learner 3:____________________________________________________________
Signed:____________________________________________________________
Case Study AWilliam owns a bicycle retail and repair name William Bicycle retail and repair (WBR&R) shop which has seen an increase in business during the COVID-19 pandemic. William has linked company web site with www.health.gov.au to get update about Covid pandemic. Businesses and employers can play a key role in preventing COVID however 4 employees are new and they are not skilled enough to manage this situation and also unable to manage customers.
With a busier store and higher demand for bikes and repairs, William considers the measures that he needs to put in place to meet public health requirements and how he can lower the risk of COVID-19 at the store.
William decides it is not reasonably practicable for his 10 employees to work from home as they are all involved in sales and repairs, which must be done at the premises. He looks through the COVID-19 resource kit on the Safe Work Australia website and identifies the control measures that are relevant to his business. This includes physical distancing, cleaning and hygiene practices and policies for employees who show symptoms of COVID-19.
The business regularly holds events to allow customers to test ride their range of bikes, with attendance of up to 20 people. William understands that these events pose a higher risk of spreading COVID-19 and do not meet the new rules for public gatherings, so immediately cancels these activities.
The business also allows customers to take bikes from the store for test rides. William is aware that it is possible for the COVID-19 virus to be on different surfaces for periods of time and this may result in transmission. It is difficult to disinfect bikes after each customer use due to cleaning products potentially contaminating and damaging parts of the bike.
William weighs up the likelihood of COVID-19 transmission from test rides and how to eliminate or minimise the risk of that happening, including measures like ceasing test rides or regularly disinfecting bikes. He then considers the suitability of those measures against their cost.
William decides the best way to minimise the risk is to temporarily limit the number of customer test rides. He clearly communicates this new practice to customers through his website and using signage at the store. William considers that this may result in a decline in sales but knows that this is necessary to reduce the risk of spreading COVID-19. William will still ensure that his employees disinfect bikes after each customer use but by limiting the number of test rides it will reduce the potential damage to his stock from disinfecting practices and save on cleaning costs and staff time.
Reference:
Safe Work Australia. (2020). Retail, supermarkets and shopping centres. Retrieved from https://www.safeworkaustralia.gov.au/covid-19-information-workplaces/industry-information/retail-supermarkets-and-shopping-centres/case?tab=tab-toc-small_business
Formative Assessment
Activity 1APerformance Criteria
P.C. 1.1 Evaluate organisational processes, procedures and requirements and determine scope for risk management process
P.C. 1.2 Review strengths and weaknesses of existing arrangements
P.C. 1.3 Document critical success factors, goals and objectives for area included in scope
P.C. 1.4 Communicate risk management process to relevant stakeholders
Instruction: Clearly answer question 1 5 based on a case study A. You were working as the risk management manager at WBR&R, what would you do in the following situations?
Question 1:
Provide three (3) strategies that you would implement to manage the situation/circumstance based on William Shop?
Question 2:
What scopes would you need to manage the risk WBR&R confronting?
Question 3:
Identify at least two (2) strengths and weaknesses of WHS risk management approaches which have been implemented within the Bicycle Shop (a provided case study WBR&R).
Question 4:
Briefly describe the importance of critical success factors, goals or objectives to advocate risk management process in the organisation.
Question 5:
Identify two critical success factors which would assist WBR&R to achieve the risk management processes relating to WHS.
Assessors feedback for Activity 1AThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learners name Assessors name Unit of Competency
(Code and Title) Date Marking checklist Performance Criteria*
1. Did the learner provide three (3) strategies that you would implement to manage the situation/circumstance based on William Shop? Yes No
(Please circle) 1.1 1.3
2. Did the learner identify scopes which need to manage the risk WBR&R confronting? Yes No
(Please circle) 3. Did the learner identify at least two strengths and weaknesses of WHS risk management approaches which have been implemented within the Bicycle Shop (a provided case study WBR&R)? Yes No
(Please circle) 4. Did the learner briefly describe the importance of critical success factors, goals or objectives to advocate risk management process in the organisation? Yes No
(Please circle) 5. Did the learner identify two critical success factors which would assist WBR&R to achieve the risk management processes relating to WHS? Yes No
(Please circle) Comments
Provide your (assessors) comments here:
The learners performance was: Not satisfactory Satisfactory
Activity 1BPerformance Criteria
P.C. 1.4 Communicate risk management process to relevant stakeholders
Instruction: Work in a group of 3-4 people or as instructed by your trainer.
Participates in interactions with stakeholders using questioning and listening to elicit opinions, and to confirm and clarify understanding
Consults and negotiates with stakeholders about risk management processes and outcomes
Scenario: Understanding and practicing various communication strategies are crucial for William and workers to develop effective risk management procedures. Effective communication, if ignored, will generate gaps for employees and customers and result in added difficulty in combating COVID-19 pandemic.
Question 1:
As a risk management manager of WBR&R, present your risk management plan to your group members (stakeholders). The risk management plan must include the following items:
Clearly describe the risk management process that can be implemented in WBR&R
The necessity to ensure health and safety notices are clearly visible in all work areas
The requirement to clearly communicate that PPE will be available at all times within the store, including gloves and high visibility jackets
Assessors feedback for Activity 1BThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learners name Assessors name Unit of Competency
(Code and Title) Date Marking checklist Performance Criteria*
1. Did the learner present the risk management plan to group members (stakeholders).
Did the learner include the following items in risk management plan?
Clearly describe the risk management process that can be implemented in WBR&R
The necessity to ensure health and safety notices are clearly visible in all work areas
The requirement to clearly communicate that PPE will be available at all times within the store, including gloves and high visibility jackets
The requirement to clearly communicate to stakeholders to maintain social distancing Yes No
(Please circle) P.C. 1.4
Comments
Provide your (assessors) comments here:
The learners performance was: Not satisfactory Satisfactory
Activity 2APerformance Criteria
P.C. 2.1 Invite stakeholders to assist in the identification of risks
P.C. 2.2 Research risks that may apply to scope
P.C. 2.3 Document risks that apply to the scope, in consultation with relevant parties
Question 1:
Imagine you have been asked to invite stakeholders to assist you in the identification of risks within your organisation(WBR&R). Complete the following tasks:
Write a list of three (3) questions that you could ask relevant stakeholders to get their assistances in the identification of risks
Create an email to relevant stakeholders to seek their assistances.
Question 2:
Research and identify three (3) WHS risks which may apply to the bicycle retail shop. These risks must possibly happen in Williams physical bicycle shop.
Question 3:
Why is it important to document the needs of risk management?
Scenario: You have been asked by the owner of WBR&R to document risks that are being occurred in the shop that could potentially be used as problem-solving activities with the employees in future.
Question 4:
What document you would create to record incidents or accident of the WBR&R?
Create a policy related to WHS that you would apply to store this document in consultation with relevant parties
Assessors feedback for Activity 2AThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learners name Assessors name Unit of Competency
(Code and Title) Date Marking checklist Performance Criteria*
1A. Did the learner write a list of three (3) questions that they could ask relevant stakeholders to get their assistances in the identification of risks? Yes No
(Please circle) P.C. 2.1 2.3
1B. Did the learner create an email to relevant stakeholders to seek their assistances? Yes No
(Please circle) 2. Did the learner research and identify three (3) WHS risks which may apply to the bicycle retail shop? Yes No
(Please circle) 3. Did the learner identify why it is important to document the needs of risk management? Yes No
(Please circle) 4A. Did the learner identify what document he/she would create to record incidents or accident of the WBR&R? Yes No
(Please circle) 4B. Did the learner create a policy related to WHS that he/she would apply to store this document in consultation with relevant parties? Yes No
(Please circle) Comments
Provide your (assessors) comments here:
The learners performance was: Not satisfactory Satisfactory
Case Study BChandran manages a local mixed business selling specialty herbs and spices, grocery, and fresh vegetables. He has been asked to do a risk assessment to make sure the business is addressing COVID-19 risks.
Chandran understands the business has duties under WHS laws to keep its workers and customers safe. He looks at the Safe Work Australia, states WHS regulator and health department websites for information on what the risks from COVID-19 might be and what they can do to manage those risks at the shop.
From this information he creates a list to carry out his risk assessment, which includes:
Identifying the risksin this case, workers and customers contracting COVID-19 at the shop
Determining how severe the risk isthat is, what could happen if a person contracts COVID-19
Whether any existing control measures at the shop are effectivesuch as their usual cleaning routines and hygiene practices
What action should be taken to control the riskthat is, what else should the shop do to ensure workers and customers are not exposed to COVID-19, so far as is reasonably practicable, and
how urgently the action needs to be taken.
Chandran knows he must consult workers on health and safety matters and at the next staff meeting, so he asks the other workers for their ideas. Workers identify one new risk Chandran hadnt thought of (the metal scoop customers use to self-serve dried lentils and pulses is currently touched by multiple customers in a day, and the staff member suggests during the pandemic they should pre-bag and price 500g and 1kg bags) and a more effective control measure for another (using gloves while handling produce and restocking, where possible).
Chandran updates the risk assessment with their suggestions and hands a copy out to each worker so they can see what needs to be done, the new procedures at the store and what each worker is responsible for.
He prints out a copy of the risk assessment and sticks it on the microwave door. He also sets himself a reminder on his phone to do a weekly spot check at the shop to ensure the controls are working effectively and to review the risk assessment in two weeks time.
Reference:
Safe Work Australia. (2020). Retail, supermarkets and shopping centres. Retrieved from https://www.safeworkaustralia.gov.au/covid-19-information-workplaces/industry-information/retail-supermarkets-and-shopping-centres/case?tab=tab-toc-small_business
Activity 3APerformance Criteria
P.C. 3.1 Assess likelihood of risks occurring
P.C. 3.2 Assess impact or consequence if risks occur
P.C. 3.3 Evaluate and prioritise risks for treatment
Question 1:
Research and identify five (5) techniques to determine the likelihood of risks occurring, and
Question 2:
According to a case study B, complete the following tasks:
Assess likelihood of risks occurring in Chandrans shop
Assess consequence of risks occurring in Chandrans shop
Evaluate and prioritise risks for treatment
Guideline: The learner is recommended to identify and understand risk which could be happening in Chandrans shop. Then, they must show that they understand the nature of harm that could be caused by the hazard and how serious the harm could be and the likelihood of it happening.
Question 3:
Identify the term of hierarchy of controls and how this can help to prioritise risks for treatment.
Assessors feedback for Activity 3AThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learners name Assessors name Unit of Competency
(Code and Title) Date Marking checklist Performance Criteria*
1. Did the learner research and identify five (5) techniques to determine the likelihood of risks occurring, and then describe more details in each analysis technique? Yes No
(Please circle) P.C. 3.1 3.3
2A. Did the learner assess likelihood of risks occurring in Chandrans shop? Yes No
(Please circle) 2B Did the learner assess consequence of risks occurring in Chandrans shop? Yes No
(Please circle) 2C Did the learner evaluate and prioritise risks for treatment? Yes No
(Please circle) 3. Did the learner identify the term of hierarchy of controls and how this can help to prioritise risks for treatment? Yes No
(Please circle) Comments
Provide your (assessors) comments here:
The learners performance was: Not satisfactory Satisfactory
Activity 4APerformance Criteria
P.C. 4.1 Determine and select from options for treating risks
P.C. 4.2 Develop action plan for implementing risk treatment
P.C. 4.3 Communicate risk management processes to relevant parties
P.C. 4.4 Implement action plan according to organisational policies and procedures
P.C. 4.5 Monitor and evaluate risk management process
Question 1:
Refer to case study B (Chandrans shop), select and determine one approach for treating risks.
Guideline: Your selected option would be strategies for controlling risk, sequence risk control activities, treatment options, porters five forces or others; however, you must reasonably describe and advocate why you selected that approach as the most suitable for treating risks in accordance with Chandrans shop.
Question 2:
What are three (3) considerations prior to generating an action plan or corrective actions for treating risks?
Question 3:
Develop or use the provided template of an action plan to implement the risk treatment based on the Chandras grocery shop.
Guideline: You can either use the provided template or develop by yourself; however, you need to make sure that an action plan includes required element.
Description of identified situation of risk:
Potential impact of risk:
Comments on the risk:
Proposed action Resource requirements:
Staff involved and responsibilities assigned:
Communicate risk management processes to relevant parties to:
Performance measures:
Timelines:
Deadlines:
Reporting and monitoring requirements:
Recommendations:
Authorised by: Date:
Question 4:
Identify the procedures to get approval of action plan from relevant stakeholders.
Question 5:
As a manager of the business how do you monitor the effectiveness of this action plan?
Assessors feedback for Activity 4AThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learners name Assessors name Unit of Competency
(Code and Title) Date Marking checklist Performance Criteria*
1. Did the learner select and determine one approach for treating risks? Yes No
(Please circle) P.C. 4.1 4.5
2. Did the learner identify three (3) considerations prior to generating an action plan or corrective actions for treating risks? Yes No
(Please circle) 3. Did the learner develop or use the provided template of an action plan to implement the risk treatment based on the Chandras grocery shop? Yes No
(Please circle) 4. Did the learner identify the procedures to get approval of action plan from relevant stakeholders? Yes No
(Please circle) 3. Did the learner identify how to monitor the effectiveness of this action plan? Yes No
(Please circle) Comments
Provide your (assessors) comments here:
The learners performance was: Not satisfactory Satisfactory
Summative AssessmentsThe summative assessments are the major activities designed to assess your skills, knowledge and performance, as required to show competency in this unit. These activities should be completed after finishing the Learner Guide. You should complete these as stated below and as instructed by your trainer/assessor.
Skills, knowledge, and performance may be termed as:
Skills skill requirements, required skills, essential skills, foundation skills
Knowledge knowledge requirements, required knowledge, essential knowledge, knowledge evidence
Performance evidence requirements, critical aspects of assessment, performance evidence.
Section A: Skills Activity
The Skills Activity is designed to be a series of demonstrative tasks that should be assessed by observation (by the assessor or third party, depending on the circumstances). In some cases, skills will be demonstrated in writing, where the criteria fits.
It will demonstrate all of the skills required for this unit of competency your assessor will provide further instructions to you, if necessary.
Section B: Knowledge Activity (Q & A)
The Knowledge Activity is designed to be a verbal questionnaire where the assessor asks you a series of questions to confirm your competency for all of the required knowledge in the unit of competency.
Section C: Performance Activity
The Performance Activity is designed to be a practical activity performed either in the workplace or a simulated environment. You should demonstrate the required practical tasks for the unit of competency and be observed by the assessor and/or third party, as applicable to the situation. If the third party is required to observe you, you will need to make the required arrangements with them.
If necessary for the activities, you should attach completed written answers, portfolios, or any evidence of competency to this workbook.
Section A: Skills ActivityObjective: To provide you with an opportunity to show you have the required skills for this unit.
This activity will enable you to demonstrate the following skills:
SKILL
DESCRIPTION
Reading Synthesises a variety of relatively complex texts
Gathers, interprets and analyses textual information from a range of sources to identify relevant information
Writing Develops textual material and organises content in a manner that effectively documents risk management analysis and assessment priorities and processes
Oral Communication Participates in interactions with stakeholders using questioning and listening to elicit opinions, and to confirm and clarify understanding
Numeracy Uses numerical tools to assess risk and uses numerical data to review plans
Teamwork Selects appropriate conventions and protocols when communicating with stakeholders about risk management
Consults and negotiates with stakeholders about risk management processes and outcomes
Planning and organising Selects appropriate conventions and protocols when communicating with stakeholders about risk management
Consults and negotiates with stakeholders about risk management processes and outcomes
Problem solving Uses digital technologies and systems to access information, document plans and communicate with others
The foundation skills are covered in above activities and the Performance Activity for this unit.
Section B: Knowledge Activity (Q & A)Objective: To provide you with an opportunity to show you have the required knowledge for this unit.
The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
legislative and regulatory context of the organisation in relation to risk management
organisational policies, procedures and processes for risk management, including document storage
types of business risks
options for treating risks
risk management process
purpose and key elements of current risk management standards
tools and techniques to identify risks to scope risk management processes.
Provide a definition of risk as identified in the Australia/New Zealand Standard for Risk Management AS/NZS ISO 31000:2018.
Discuss the concept of risk management.
Outline at least 5 benefits of risk management.
Explain the purpose of the AS/NZS ISO 31000: 2018 Risk Management Principles and Guidelines.
Discuss 2 of the 11 principles of risk management as per the AS/NZS ISO 31000: 2018 Risk Management Principles and Guidelines.
Give three examples of potential impacts of risk.
Explain the steps for analysing risks.
Outline three sources of information that you could use to gather information on potential risks.
Explain the five options for controlling risk.
Explain five ways in which an organisation can minimise risk.
Outline three examples of tools or techniques that could be used to identify risks as part of a risk assessment process.
Assessors feedback for Summative Assessments: Section B checklistThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learners name Assessors name Unit of Competency
(Code and Title) Date Marking checklist Knowledge Evidence
Did the learner provide a definition of risk as identified in the Australia/New Zealand Standard for Risk Management (AS/NZS ISO 31000:2009)? Yes No
(Please circle) Knowledge Evidence
Did the learner correctly discuss the concept of risk management? Yes No
(Please circle) Did the learner correctly outline at least 5 benefits of risk management? Yes No
(Please circle) Did the learner correctly explain the purpose of the AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelines? Yes No
(Please circle) Did the learner correctly discuss 2 of the 11 principles of risk management as per the AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelines ? Yes No
(Please circle) Did the learner correctly give three examples of potential impacts of risk? Yes No
(Please circle) Did the learner correctly explain the steps for analysing risks? Yes No
(Please circle) Did the learner correctly outline three sources of information that you could use to gather information on potential risks? Yes No
(Please circle) Did the learner correctly explain the five options for controlling risk? Yes No
(Please circle) Did the learner correctly explain five ways in which an organisation can minimise risk? Yes No
(Please circle) Did the learner correctly outline three examples of tools or techniques that could be used to identify risks as part of a risk assessment process? Yes No
(Please circle) Comments
Provide your (assessors) comments here:
The learners performance was: Not satisfactory Satisfactory
Section C: Performance ActivityObjective: To provide you with an opportunity to show you have the required knowledge for this unit.
The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
lead at least one risk management process for an organisation or work area.
In the course of the above, the candidate must:
analyse information from a range of sources to identify the scope and context of the risk management process, including:
stakeholder analysis
political, economic, social, legal, technological and policy context
current arrangements
objectives and critical success factors for the area included in scope
risks that may apply to scope
consult and communicate with stakeholders to identify and assess risks, determine appropriate risk treatment actions and priorities and explain the risk management processes
develop and implement an action plan to treat risks
monitor and evaluate the action plan and risk management process
maintain documentation.
Case Study C: Risk Management ProcessThis assessment task requires you in the role of Operations Manager of Nature Care Products to develop a risk briefing management report associated with the proposed Business expansion and then prepare for a meeting with your team by researching risks, as well as potential risk treatment options pertaining to the Nature Care Products business expansion project. Following this, you will meet with your team to brainstorm risks and then develop a risk Management plan, including action plan to implement identified risk treatments.
You are the Operations Manager of a medium-sized Australian company, Nature Care Products, based in Brisbane. The company commenced business in 1996 and manufactures 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.
Strategic priorities focus on business diversification and growth, specifically to increase market share by 10% and to expand the existing product range to attract more customers.
At a recent board meeting the two company shareholders and the CEO discussed options for expanding the business, including establishing a chain of retail outlets. The CEO has asked you to investigate this, undertaking a risk analysis on establishing a chain of retail outlets. The idea is to initially set up a retail outlet in central Sydney, Brisbane and Melbourne. The CEO and shareholders are keen to get the business expansion started as soon as possible so 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 and Administration Assistant, Operations Manager, as well as the CEO and two shareholders as indicated above.
The company currently has a risk management policy and procedure in place that incorporates the AS/NZS ISO31000:2009 Risk Management Principles and Guidelines.
Complete the following questions based on a case study C
Instruction:
Review and research the case study information provided to you to determine the scope of the risk management process required, as well as the companys risk management policy and procedure and information on risk management standards. Make notes for use in your report that address
Objectives of the company
Identification of internal and external stakeholders with whom you will need to consult to identify potential risks, as well as issues they are likely to raise as part of the risk management process.
An analysis of the strengths and weaknesses of the companys existing retail approach namely, online and through health food shops.
Analysis of critical success factors, goals or objectives for the business expansion project. Following, this you are required to conduct a PESTLE analysis for Nature Care Products in order to identify key factors that impact on the business environment in which the company operates and their relevance in identifying risks.
When you have completed your PESTLE analysis, you will be ready to write an initial report for the CEO. In this report you will cover following points:
An assessment of the likelihood of the risk occurring, as well as the severity of the risk should it occur.
A risk action plan that sets out for each risk including:
Risk description
Impact of risk
Recommended actions
Resource requirements
Timelines
Responsibilities
Monitoring processes
Assessors feedback for Summative Assessments: Section C checklistThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the unit activity. Indicate in the table below if the learner is deemed satisfactory (S) or not satisfactory (NS) for the activity or if reassessment is required.
Learners name Assessors name Unit of Competency
(Code and Title) Date Marking checklist Performance Evidence
Did the learner correctly identify companys objectives? Yes No
(Please circle) Performance Evidence
Did the learner correctly identify internal and external stakeholders with whom he/she will need to consult to identify potential risks, as well as issues they are likely to raise as part of the risk management process? Yes No
(Please circle) Did the learner correctly complete an analysis of the strengths and weaknesses of the companys existing retail approach namely, online and through health food shops? Yes No
(Please circle) Did the learner correctly analyse critical success factors, goals or objectives for the business expansion project? Yes No
(Please circle) Did the learner correctly conduct a PESTLE analysis for Nature Care Products? Yes No
(Please circle) Did the learner correctly write an initial report for the CEO?
Did the learner also include the following elements in the report?
A risk action plan that sets out for each risk including:
Risk description
Impact of risk
Recommended actions
Resource requirements
Timelines
Responsibilities
Monitoring processes Yes No
(Please circle) Comments
Provide your (assessors) comments here:
The learners performance was: Not satisfactory Satisfactory
Competency record to be completed by assessorThis should be used by the trainer/assessor to document the learners skills, knowledge and performance as relevant to the overall unit. Indicate in the table below if the learner is deemed competent or not yet competent for the unit or if reassessment is required.
Learners name Assessors name Unit of Competence
(Code and Title) Date Has the learner completed all required assessments to a satisfactory standard? Yes No
(Please circle)
Has sufficient evidence and information been provided by the learner to prove their competency across the entire unit? Yes No
(Please circle)
Learner is deemed: Not yet competent Competent
Comments from trainer/assessor:
