Manage business risk Dissertation for BSc Management Building and Construction SYSC 4001 Operating Systems EET 2350 Assignment 2…

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CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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Assessment Coversheet
Student and Trainer/Assessor Details
Student ID
Student name
Mobile
Email address
Trainer/Assessor name
Course and Unit Details
Course code
BSB50420
Course name
Diploma of Leadership and Management
Unit code
BSBOPS504
Unit name
Manage business risk
Block/ Term/ Year
Due date
Assessment Submission Method
☐ By hand to trainer/assessor
☐ By email to trainer/assessor
Date Submitted:
Date Submitted:
Student Declaration
• I certify that the work submitted for this assessment is my own. I have clearly referenced any
sources used in my submission. I understand that a false declaration is a form of malpractice;
• I have kept a copy of this assessment and all relevant notes, attachments, and reference
material that I used in the production of the assessment.
• I have read the Plagiarism, Assessment Appeal and Reassessment Policy in the Student
Handbook and I understand all the rules and guidelines for undertaking assessments.
• I give permission for my assessment to be used for continuous improvement purposes
Student signature
Date
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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Assessment Result
To demonstrate competence in this unit, you must be assessed as satisfactory in each of the following
assessment tasks.
Evidence recorded
Evidence Type/ Method of assessment
Satisfactory/ Not Satisfactory
Unit Assessment Task 1
Short Answer Questions and Case study
Unit Assessment Task 2
Project
Final result
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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BSBOPS504 Manage business risk
Assessment 1 – Part A: Short Answer Questions
Instruction
You are required to answer all of the following questions. You need to answer all of the written questions
correctly. Generally, you are expected to write a response one or two paragraphs long. Please answer the
questions using word processing software.
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task
satisfactorily.
1. Outline the purpose of AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelines and
each of the 11 principles.
2. Explain the requirements of WHS legislation in relation to risk management.
3. List the factors that must be taken into account in determining risk control measures for hazardous
manual tasks as stated in the model Work Health and Safety Regulations 2011.
4. Explain the purpose of risk management policies and procedures in the workplace.
5. Outline a step-by-step procedure that companies can use for analysing risks.
6. Outline three sources of information that a company could use to gather information on potential
risks.
7. Provide examples of at least three areas of risk that are common in most business organisations.
8. Describe three examples of tools or techniques that a company could use to identify risks as part of a
risk assessment process.
9. Explain four options that a company could take to control risks.
10. Explain four procedures that a company could use to minimise risk.
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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Assessment 1 – Part B: Case study
Instruction
This assessment task requires the student, in the role of Operations Manager of NatureCare Products, to
develop a risk management briefing report associated with the proposed business expansion. The student
will then prepare for a meeting with their team by researching risks, as well as potential risk treatment
options pertaining to the NatureCare Products business expansion project.
Following this, the student will meet with their team to brainstorm risks and develop a risk management
plan, which includes an action plan to implement identified risk treatments.
Assessment Resources
• Risk Management Policy and Procedures
• Team Meeting Minutes
• Risk Briefing Report Template
• Risk Management Plan Template
Assessment criteria
Students must complete all of the activities listed and submit:
• Risk Briefing Report
• Risk Management Plan
• Signed Observation checklist
Review the following information:
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, 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 makes all its products
in a small factory.
The company sells its products direct to a chain of health food shops across Australia, as well as online
through its own web site. Products ordered online are shipped directly to customers from the factory.
Products provided to health food shops are provided to the health food shop distributor who then
distributes the products to all its stores. The relationship with the chain of health food shops is a long
standing one (ten years).
The company targets customers that want high quality, eco-friendly products. Market research has identified
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 to increase
their 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 idea is to initially set up one retail outlet in
central Sydney, Brisbane and Melbourne. Products will continue to be made in the company’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 retail outlets.
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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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 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 Procedures in place that incorporates the AS/NZS
ISO31000:2009 Risk Management Principles and Guidelines.
Complete the following activities:
1. Review the case study information provided above, as well as the company’s risk management
policy and procedures to determine the scope of the risk management process required.
Use the internet to search for relevant information on risk management standards
http://broadleaf.com.au/resource-material/iso-31000-2009-setting-a-new-standard-for-riskmanagement/
You should also review the recent Team Meeting Minutes on the business expansion project to
inform your report.
Use the Risk Briefing Report Template to guide your work.
2. You are required to invite the team to participate in a meeting to brainstorm risks associated with
the company’s proposed expansion (your assessor and two other students). Refer to your Risk
Briefing Report and share your ideas, encouraging the meeting attendees to share theirs.
Steer this discussion into a brainstorming session.
At the meeting, you are required to:
• Clearly explain the risk management process as per the organisation’s policy and procedure.
• Discuss the risks you have identified and potential risk treatments
• Seek ideas from the team about risks involved in the business expansion, as well as
treatment measures.
• Agree on the most important risks that should be included in the risk management plan, as
well as suitable risk treatments. At least five must be identified.
3. The final part of the assessment task requires you to develop a risk management plan using the Risk
Management Plan Template. You only required to submit the Risk register and Risk action plan.
4. Prepare an email to the CEO (Your assessor).
The email text should include the following:
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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• A summary of the purpose of the Risk Management Plan
• An outline of the risks most likely to occur in relation to the business expansion project.
• Why you believe the identified treatment strategies for each of the risks will be effective in
ensuring risks are minimised or do not occur.
• A request for their support and approval of your plan.
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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Assessment Task 1 Marking Checklist (Assessor Only)
Did the student:
Completed
successfully
Comments
Yes
No
Part A
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Question 10
Part B
In the risk briefing report, provide an overview of the risk
management project, including how the project will be
carried out in accordance with the organisation’s Risk
Management Policy and Procedure, as well as how the
process aligns with the risk management standards?
In the briefing report, include the scope of the risk
management process, any risks that may apply to the scope,
and objectives and critical success factors for the area
included in the scope?
In the briefing report, identify and analyse internal and
external stakeholders and the issues they may have that are
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
8 of 11
Did the student:
Completed
successfully
Comments
Yes
No
likely to impact on the risk management process?
In the briefing report, review and describe the strengths and
weaknesses of the company’s existing business approach?
In the briefing report, document critical success factors,
goals or objectives of the project?
Invite the team to participate in the brainstorming meeting
to identify risks and treatments?
At the meeting, clearly explain the risk management process
as set out in the organisation’s Risk Management Policy and
Procedures?
At the meeting, seek input from the team through
brainstorming on possible risks and potential risk
treatment?
During the meeting, demonstrate effective communication
skills (Refer to the observation checklist)
In the risk management plan, document five risks identified
through research and consultation?
In the risk management plan, determine the likelihood of
the risk occurring, as well as the severity of the risk should it
occur?
In the risk management plan, evaluate risk priority and order
of likelihood of occurring from most likely to unlikely?
In the risk management plan, identify strategies for the
treatment or control of the risk if it occurs?
In the risk management plan, include an action plan that
includes:
• Risk description
• Impact of risk
• Recommended actions
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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Did the student:
Completed
successfully
Comments
Yes
No
• Resource requirements
• Timelines
• Responsibilities
• Monitoring processes?
Communicate risk management processes to relevant
parties?
Task 1 Outcome:
Satisfactory 
Not Satisfactory 
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
10 of 11
Observation Checklist
Date of ObservationName of LearnerSignatureTeam members NameSignatureYES NO• Speaking clearly and concisely using appropriate level of formality and
vocabulary
i.e. could you understand what the student said, they used formal language
to a senior management and used commonly accepted business terms• Speaking to suit the audience
i.e. they used formal language to a senior management and used
commonly accepted business terms• Using non-verbal communication to assist with understanding
e.g. nodding to indicate understanding, smiling to facilitate communication.• Asking questions to identify required information
i.e. asking relevant questions• Responding to questions as required
i.e. providing a clear and concise and relevant response to the question asked• Using active listening techniques to confirm understanding
i.e. by paraphrasing information or feedback provided to confirm
understandingBriefly describe
the Learner’s
overall
performance.
If any of the
items above are
marked as NO,
explain why
here.
CCMT-BSBOPS504 Task 1-V1.0
Bhairav Baba Pty Ltd T/A Canberra College of Management & Technology | ABN: 79 639 129 454 |CRICOS: 03880E | RTO Code: 45648
L2, 15 Barry Drive, Turner, ACT 2612 | E-mail: info@ccmtcollege.edu.au | Website: www.ccmtcollege.edu.au | Phone: 02 9188 1733
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Assessor Declaration

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By signing this declaration, I confirm that I have observed the learner, whose name is
recorded above, has demonstrated the requirements outlined in this task.
I further confirm that all of the responses the learner has provided above are true and
accurate about their performance of the task.
Assessor’s signature:
Assessor’s name:
Date signed:

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