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BSBRSK501 Manage Risk

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Question:

For this assessment you are required to manage risks in a range of contexts across Town and Country Services. You must demonstrate your ability to:

  • Establish the risk context
  • Identify risks
  • Analyse risks
  • Select and implement treatments

For the provided case study, you will assume the role of the Risk Manager and it is your responsibility to identify and manage the risks in the regional expansion project. The Board of Directors of Town and Country Services will be responsible for strategic and financial risks.

In order to complete this project, you must develop a risk management plan which:

  • includes a detailed stakeholder analysis, explanation of the risk context, critical success factors, identified and analysed risks, and treatments for prioritised risks
  • includes details of monitoring arrangements and reporting mechanisms for the risk management plan and an evaluation of the risk management plan’s efficacy in treating risks

As part of the task you are to complete a written report for your manager (your assessor) that addresses the following 4 Stages of the risk management process.

As a business manager, when developing risk management plans for a project, you need to clearly identify a project’s goals or objectives and its scope and critical success factors of risk management.

(a) Describe goals/objectives of the business. Consider factors including:

  • Technological innovation
  • New products or services
  • Opening new markets
  • Organisational structure

(b) Explain the scope of the project in terms of “deliverables” (what it is designed to achieve)

(c) Relate the deliverables to the goals/objectives of the organisation and explain how the project promotes them

(d) Identify the Critical Success Factors (CSF) – factors that must be present in order for the project to be successful and promote Town and Country Service’s goal.

You realise that your action plan for implementing risk treatments needs to be reviewed. You need to evaluate the plan and write up what you find in a report which you will provide to your manager.

  1. Write a report examining the ongoing implementation of the risk management action plan (about one page). Include the following:
  • a summary of the initial risks and the plan implemented to manage them.
  • a summary of all actions taken to date in attempting to manage identified risks
  • a statement identifying continued and/or reduced risks, based on the information provided (in the scenario above)
  • a statement about the risks you did not identify and the planned actions for mitigating them or avoiding them
  • proposal for amendments to the risk management plan
  • an analysis of the effectiveness of the risk management plan, by comparing the implementation with the outcomes (identified in the scenario above).
  • evaluation of your risk management process.
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My Assignment Help. Manage Risk [Internet]. My Assignment Help. 2021 [cited 20 April 2021]. Available from: https://myassignmenthelp.com/free-samples/bsbrsk501-manage-risk/ieee-transactions-on-services-computing.html.


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