Establishing Risk Context for Nature Care - MHDPLM3D2-2B

This article discusses the establishment of risk context for Nature Care, an Australian-based organization focused on eco-friendly manufacturing of beauty and skin care products. It covers the business overview, main focus, and the role of a risk management expert in identifying and mitigating potential risks.

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Contents
Section 1: Establish risk context................................................................................................................. 8
1Provide a brief overview of the business or organisation you are basing your portfolio on.......................8
1.1What is the name of the business or organisation?...........................................................................8
1.2What is the main focus of the business?............................................................................................ 8
1.3What role will you assume as you investigate risk for your chosen risk management
process/project?..................................................................................................................................... 8
2Determine the scope of your chosen risk management process/project...................................................8
2.1What does your chosen risk management process/project involve?.................................................8
2.2Which departments or work areas are involved in the process?........................................................8
2.3Are there any risks the business will not manage (for example, staff retention)?..............................8
3Evaluate organisational requirements and standards for managing risk...................................................8
3.1Which organisational policies and procedures provide input on how you approach your chosen risk
management process or project e.g. Risk management, Record keeping etc.?.....................................8
3.2Are there any processes you need to follow?....................................................................................8
3.3Attach policies and procedures to this section of your portfolio.........................................................8
4What are the legal requirements associated with your chosen risk management process or project?.....8
4.1Explain the legislation you need to comply with.................................................................................8
4.2Do any regulations apply?................................................................................................................. 8
4.3Is there the potential for new laws to be introduced or existing ones to be amended or rescinded?. 8
4.4Which risk management standard/s are used or guide the risk management activities of the
business?................................................................................................................................................ 8
5List the resources available for you to use as you plan, implement and monitor risk................................8
5.1Are template documents available to support your risk management process/project?.....................8
5.2Do you have budget allocation or restrictions for the risk management process/project?..................8
5.3Which employees are available to assist you?..................................................................................8
5.4What other resources are required?.................................................................................................. 8
6Establish objectives and critical success factors for your risk management process or project................8
6.1List two objectives.............................................................................................................................. 8
6.2List three critical success factors for the risk management process or project..................................8
7Identify stakeholders who will be part of the risk management process...................................................9
7.1Who is able to shed light on or assist with risk identification, risk analysis and/or risk control?.........9
7.2Who is likely to be impacted by an adverse risk event?.....................................................................9

7.3How will each stakeholder provide input to the risk management process (such as identifying
possible risks, helping describe their impact and suggesting ways to prevent or mitigate risks)?..........9
7.4What influence does each stakeholder have on risk management decisions? .................................9
7.5What are the possible issues each stakeholder may have if a risk event occurs (for example,
employees will still want to be paid, customers may still need your products or services and banks will
still need to be paid for loans etc)?......................................................................................................... 9
8Communicate with relevant stakeholders.................................................................................................9
8.1Who will you communicate to (at least two stakeholders) regarding:.................................................9
1.1.1.Explanation of the risk management process or project?..............................................................9
1.1.2.Invitation to assist in risk identification...........................................................................................9
8.2How will you consult with each stakeholder?.....................................................................................9
8.3If not already viewed in person by your assessor, attach proof (e.g. draft email, telephone
conversation recording, video of meeting etc.) of your explanation of the risk management
process/project to the stakeholders........................................................................................................ 9
8.4If not already viewed in person by your assessor, attach proof of your invitation to stakeholders to
assist in the identification of risks (e.g. draft email, telephone conversation recording, video of meeting
etc.). ....................................................................................................................................................... 9
Note: If suitable, 8.3 and 8.4 can be completed as one communication.................................................9
9Analyse the external environment of your risk management process/project. .........................................9
Note: You may choose to perform any external environmental analysis (e.g. PESTLE analysis) to answer
this question instead of the questions below............................................................................................... 9
9.1What is the political situation like (e.g. unrest, government support of small business, government
policies)?................................................................................................................................................. 9
9.2What is the current and predicted economic situation (e.g. state of local and other applicable
economies, interest rates, exchange rates, employment rates etc.)?.....................................................9
9.3Are there any social considerations (e.g. changing values, beliefs, attitudes and habits)?................9
9.4How are technological advances affecting the business (e.g. internet, RPA, risk control)?...............9
9.5What are competitors doing?............................................................................................................. 9
10Establish the strengths and weaknesses within your business that have the potential to create or
impact risk. ................................................................................................................................................. 9
Note: You may choose to use any relevant analysis tool (e.g. SWOT analysis) to answer instead of the
questions below.......................................................................................................................................... 9
10.1Are the current risk management policy/procedures complete and comprehensive?......................9
10.2What is the state or condition of business’ resources relevant to your risk management process or
project?................................................................................................................................................... 9
10.3How effective are existing communication mechanisms between management and the workforce?
................................................................................................................................................................ 9
10.4How loyal are staff?......................................................................................................................... 9
10.5What is the size and quality of the customer data base?...............................................................10
10.6What is the business’ ability to fund or raise funding?...................................................................10
10.7What is the business’ cashflow situation?......................................................................................10

10.8Are supplier relationships strong and reliable?..............................................................................10
Section 2: Identify and analyse risk.......................................................................................................... 11
1Plan to discuss risks with invited stakeholders (identified in Section 1)..................................................11
10.9Choose a tool or technique to facilitate the group discussion to identify risks within the scope of the
risk management process .................................................................................................................... 11
Note: At the meeting, you will collaboratively choose three risks to focus on as a group......................11
10.10List what will be discussed (e.g. identify risks, assess risks, risk treatments, priorities etc.)........11
10.11What method and scale will you use to assess the likelihood and severity of the risks?.............11
10.12What will guide how you prioritise risk (e.g. risk matrix)?.............................................................11
10.13What are you prepared to negotiate? .......................................................................................... 11
10.14How will you negotiate?............................................................................................................... 11
10.15Explain questioning and listening techniques you will use to elicit opinion and clarify
understanding....................................................................................................................................... 11
11Summarise risks................................................................................................................................... 11
11.1Summarise at least three risks identified at the meeting that apply to the scope of your risk
management process or project. For each risk:....................................................................................11
1.1.3.Identify which type of risk it is...................................................................................................... 11
1.1.4.Identify who may be responsible for the risk................................................................................11
1.1.5.List at least two potential outcomes should the risk eventuate....................................................11
1.1.6.What treatment alternatives were discussed?.............................................................................11
1.1.7.How do the stakeholders want to prioritise the risks?..................................................................11
11.2If not already viewed in person by your assessor, attach proof of your stakeholder meeting (e.g.
video of meeting etc.)............................................................................................................................ 11
12Complete the table below to assess the identified risks (using an appropriate scale and stakeholder
input)......................................................................................................................................................... 11
13Research risks...................................................................................................................................... 12
13.1Research each of the identified risks to learn more about the risk and any related risk treatment
options (e.g. speak to stakeholders, do an internet search, review best practice examples, check
policies and procedures, view past incidents, research technology solutions etc.)...............................12
Note: You must access at least two different sources of information....................................................12
13.2Summarise the research done for each identified risk...................................................................12
13.3List the options available to you to treat your identified risks.........................................................12
13.4Attach proof of your research to this section of your portfolio........................................................12
14Use digital technology to document and calculate risk (e.g. a risk register). Include the risk, potential
outcomes, likelihood, impact/severity, risk calculation, treatment actions and priority of each treatment
action........................................................................................................................................................ 12
Note: Risk is calculated (likelihood)x(impact)............................................................................................ 12
Section 3: Implement and monitor risk treatment......................................................................................13

1Complete the action plan below for ONE of your selected risk treatments (in your Risk register in Section
2).............................................................................................................................................................. 13
Note: If your business already has an action plan template or other specific documentation requirements,
use them instead and attach your work to this section of the portfolio......................................................13
15Communicate the action plan to relevant parties (each person responsible for a step in the action plan).
.................................................................................................................................................................. 13
15.1To who will you communicate?...................................................................................................... 13
15.2How will you communicate (e.g. face-to-face discussion, email)?.................................................13
Note: If you are basing this assessment on the case study business, you are required to communicate
verbally................................................................................................................................................. 13
15.3Unless already viewed in person by your assessor, attach proof of your communication to this
section of the portfolio (e.g. email with attachment, project schedule, video of team meeting etc.). ....13
16Implement your action plan and maintain documentation.....................................................................14
16.1Which step will you implement?..................................................................................................... 14
Note: If you are using the case study, assume that one step in your action plan is to request quotes for
RPA systems for invoice capturing....................................................................................................... 14
16.2What are the organisational policy and procedure requirements to implement your chosen step in
the action plan (e.g. how many quotes are you required to obtain, should a research report be written
etc.)?..................................................................................................................................................... 14
16.3Attach proof of implementation to this section of your portfolio (e.g. request for quotes, research
conducted and written into a research report etc.)...............................................................................14
16.4Describe how you maintained the documentation to indicate completion of the step (e.g. marked
the action plan as “done”). If this step cannot be completed in the Project Portfolio, attach proof........14
17Monitor your risk management process or project................................................................................14
17.1What data is available?.................................................................................................................. 14
17.2Have any new risks emerged?....................................................................................................... 14
17.3Have any incidents been recorded?............................................................................................... 14
17.4Have you (or other stakeholders) received or provided feedback?................................................14
18Evaluate your risk management process or project..............................................................................14
18.1Are you identified risks still relevant?............................................................................................. 14
18.2Have your risk treatments been successful?.................................................................................14
18.3Are there any new risks?............................................................................................................... 14
18.4How satisfied are stakeholders with your action taken to manage risks?......................................14
18.5Are your selected treatment options still in line with best practice?...............................................14
18.6Is any other risk treatment necessary?.......................................................................................... 14
18.7Write a report on the outcomes of the evaluation and attach it to this section of your portfolio. In
you report, include:............................................................................................................................... 14

Student name:
Assessor:
Date:
Business this assessment
is based on:
Risk management
project/process:
Documentation reviewed
as preparation:

Section 1: Establish risk context
1 Provide a brief overview of the business or organisation you are basing your portfolio on.
1.1 What is the name of the business or organisation?
The organisation that has been considered is Nature care which is an Australian based organisation
which is established in the years 1996. Headquarters of the organisation is in Brisbane, Australia. The
organisation is based upon idea of environmental awareness.
1.2 What is the main focus of the business?
The main idea of Nature care is based over eco-frindly manufacturing of products related to beauty skin
care products. Under this business establishment was done over making sure growing demand for skin
products which are environmental friendly and has natural ingredient. Further the business is focused
over making eco-friendly packaging more popular which makes goals of environmental awareness
created.
1.3 What role will you assume as you investigate risk for your chosen risk management
process/project?
In the organisation as a Finance manager and CEO of the organisation requires to investigate over
financial risk involved within financial activities required over performed by the finance team. Under it.
Currently, due to the small size of the business.
2 Determine the scope of your chosen risk management process/project.
2.1 What does your chosen risk management process/project involve?
The chose risk management process is based over finance department and includes responsibilities in
relation to general activities is covered including responsibilities of the finance team include payroll,
banking, accounts payable (supplier payments), account receivable (customer receipts) and statutory
compliance.
2.2 Which departments or work areas are involved in the process?
In this finance department is involved with finance team handling supplier payments, accounts receivable
and statutory compliance related to it. The major area to be covered is based upon these risks which
impacts organisation’s financial responsibilities.
2.3 Are there any risks the business will not manage (for example, staff retention)?
Though IT is involved within responsibility of finance team but It is not needed over assessing risk. So, it
can be observed that IT is the risk which is not required to be assessed.
3 Evaluate organisational requirements and standards for managing risk.

3.1 Which organisational policies and procedures provide input on how you approach your chosen
risk management process or project e.g. Risk management, Record keeping etc.?
Risk management the process by which an organisation is able to identify potential risk before its
accruing. Also such management makes analysis of the risk done and then steps is been taken in order
to reduce the risk. There are three main kinds of risk management which is business risk management,
non business risk management and financial risk management. In relation over case study of Nature care
organisation financial risk management is involved.
3.2 Are there any processes you need to follow?
The process which is required to be used within it is based upon steps which are outlining of objectives in
this main focus is over identifying of projects necessities and create understanding of it in relation to
project. Other steps are Risk management plan which makes framework prepared over handling of risk in
proper manner. Identification it means elements to be identification of it in relation over risk through risk
management plan. Then comes evaluation which includes evaluating of risk in effective way. Planing in
which appropriate strategy in relation over risk is applied in this case financial management is required to
be done. Also constructive feedback is required attained form risk solving strategies.
3.3 Attach policies and procedures to this section of your portfolio.
The risk management policy of Australia is required to be used that leads upon making financial risk
managed in proper manner. In this process to be used is based over managing funds over raw materials,
introducing optimum utilisation of finance and proper plan is required to be prepared by Nature care to
makes sure that risk related over objective is been identified in proper manner.
4 What are the legal requirements associated with your chosen risk management process or project?
4.1 Explain the legislation you need to comply with.
The appropriate legislation that can be applied is Faire work Act 2009 and Privacy act 1988. In Faire work
Act 2009 fairness within various process of an organisation. Then in Privacy act 1988 this protects
private information of employees. Nature care through these policies is able to attain satisfaction in
relation to its employees.
4.2 Do any regulations apply?
Only the above mentioned legislation that is Faire work Act 2009 and Privacy act 1988 is required to be
used in order to make sure that risk is been handled in proper manner. Also these legislation makes
fairness introduced within work process of Nature care. Then privacy of employees is been protected
through managing risk.
4.3 Is there the potential for new laws to be introduced or existing ones to be amended or
rescinded?
No, new laws is required to be applied but amendment can be done as per the nature of problem accrued
through risk.
4.4 Which risk management standard/s are used or guide the risk management activities of the
business?
In this budget planning can be used by nature care that is helpful in keeping money safe to deal over the
risk and makes sure that proper utilisation of financial resource is been done.
5 Other regulation that can be applied as per case scenario Privacy act 1988 which is helpful in
making sure about regulations applied over managing financial risks.

5.1 Is there the potential for new laws to be introduced or existing ones to be amended or
rescinded?
No, change is to be done within the policies or legislation only standards and guidelines can be
developed for making regulation applied.
5.2 Which risk management standard/s are used or guide the risk management activities of the
business?
The standards of risk management in relation over theft is based upon three levels which of high, low and
medium. In the meeting held between payroll and Finance manager of natural care risk identified is high
in nature.
5.3 Are template documents available to support your risk management process/project?
RPA process is been used within the case study in relation over managing of risk in the project. This
makes more secured form over managing transactions which is going to help in making theft identified in
proper manner.
5.4 Do you have budget allocation or restrictions for the risk management process/project?
Implementation of the system cost $25 000.
Implementation of the system cost $25 000. This has been applied which has helped in
managing risk over new products in better and effective manner.
5.5 Which employees are available to assist you?
Payroll officer is there for helping in providing assistance in relation to the risk that has taken place within
Nature Care.
5.6 What other resources are required?
Resources required is based upon evidences related to theft and report over financial transaction done in
relation to it.
6 Establish objectives and critical success factors for your risk management process or project.
6.1 List two objectives. Objectives of risk management factor process is to develop secured medium to identify theft done
in relation over stock. Other objective is to makes sure that cash flow is improved in more effective manner.
6.2 List three critical success factors for the risk management process or project.
Three success factors related to risk management process is legislation, evaluation and
monitoring.
7 Identify stakeholders who will be part of the risk management process.
7.1 Who is able to shed light on or assist with risk identification, risk analysis and/or risk control?
Potential stakeholders related to risk identification as per the case study are Investors and fund
providers,payroll officer, finance manager and finance assistance.
7.2 Who is likely to be impacted by an adverse risk event?
The impact over adverse risk event investors and fund providers,payroll officer, finance manager and
finance assistance. .

7.3 How will each stakeholder provide input to the risk management process (such as identifying
possible risks, helping describe their impact and suggesting ways to prevent or mitigate risks)?
In this payroll officer makes makes analysis done in relation over theft and cash flow problems. Then
finance assistance provides proper monitoring done about risk management process. Finance manager
makes management of the process done through providing proper guidelines as per legislation applied
within controlling risk related to Nature care products. The investors is required to seek that risk is not
going to impact profit outcome of Nature acre products. Financial assistance is helpful in managing
financial resources. Finance manger is going to provide solution over risk that has been created.
7.4 What influence does each stakeholder have on risk management decisions?
In this payroll officer makes makes analysis done in relation over theft and cash flow problems. Then
finance assistance provides proper monitoring done about risk management process. Finance manager
makes management of the process done through providing proper guidelines as per legislation applied
within controlling risk related to Nature care products. The investors is required to seek that risk is not
going to impact profit outcome of Nature acre products. Financial assistance is helpful in managing
financial resources. Finance manger is going to provide solution over risk that has been created.
7.5 What are the possible issues each stakeholder may have if a risk event occurs
As per the case study potential issues arise to payroll officer is that lack of resources and finance lead
towards making not research conducted which makes issues remain unsolved. If financial assistance is
not provided then money cannot be arranged on time winch collapsed process of risk management and
its applicability. Finance manager issue may arise over making payments and salary distribution to
persons working under him.
8 Communicate with relevant stakeholders.
8.1 Who will you communicate to (at least two stakeholders) regarding:
Since the case study explains that main stream communication is required to be achieved which can be
made through using communication channels. These channels lead upon making information passed in
effective manner leading towards improving of communication process. In this case internal
communication channels is to be used within which payroll officer and finance assistant can be used for
making communication through internal channels smooth. Communication will be done by finance
manager.
8.2 How will you consult with each stakeholder?
This can be made possible by using ethical code of conduct which makes work integrity maintained with
discipline and order. Also consultation can be done using emails or through telephones withion staff
members.
8.3 If not already viewed in person by your assessor, attach proof (e.g. draft email, telephone
conversation recording, video of meeting etc.) of your explanation of the risk management
process/project to the stakeholders.
Dear sir,

It is requested to the finance assistance that an meeting is required to be held on the discussion related
to the risk management process applicability. Kindly make sure that its report upon analysis is to be
prepared as soon as possible. Also relevant data in relation over risks accrued in relation should be
mailed back to ( finance mangernaturecare@89). So kindly make sure that these points is been fulfilled
before joining the meeting.
Thanks you.
( Finance manager)
8.4 If not already viewed in person by your assessor, attach proof of your invitation to stakeholders
to assist in the identification of risks (e.g. draft email, telephone conversation recording, video of
meeting etc.).
Dear sir,
It is requested to the finance assistance that an meeting is required to be held on the discussion related
to the risk management process applicability. Kindly make sure that its report upon analysis is to be
prepared as soon as possible. Also relevant data in relation over risks accrued in relation should be
mailed back to ( finance mangernaturecare@89). So kindly make sure that these points is been fulfilled
before joining the meeting.
Thanks you.
(Finance manager)
9 Analyse the external environment of your risk management process/project.
In order to understand the impact of external environment proper analysis is done that is PESTEL
analysis. This analysis acts as tool which makes impact of external factors understood in more
effective manner. This is one of the most effective way which leads over understanding about
various factors impacting risk management process. Further analysis is done in relation ton nature
care risk management as follows:
Political factors: These are those factors which are based upon various kinds of polices that has
been formed by government related to various aspects of corporate world. In these policies based
tax, competition or antitrust laws, corporate governance with health and safety legislation is involved.
If policies formed by government becomes rigid in nature then it can lead upon making risk
management process of nature care face financial problems which makes process formed lack
financial stability and lead towards its collapse of risk management.
Economic factors: Such factors covers about different kinds of economic factors which makes
economic sustainability attained within an organisation. In this factors like inflation and deflation
rate , unemployment rate with import export rate increased. In relation to nature care if import rate
increases then expansion capacity is going to be affected which makes loss to be faced and risks
accrued.
Social factors: These are those factors which is based upon analysing of trends, taste which is
been existing within individual living within society. Such factors makes various elements to be
identified which impacts the expansion of an organisation within particular market. Further factors
includes all customers preferences within society. It impacts organisation like nature care in a way

that if its is not able to analyse customer need then risk of loss in customer base which makes
organisation loss its value within market.
Technological factors: They are based upon different kinds of technological changes taking place
within society on daily basis. It is required to be followed by an organisation which improves
production capacity and delivery process improved. Such factors impacts risk management process
in a way that latest technology makes Nature care analyse factors more effectively that makes risk ti
be analysed early stage which makes controlling of risk possible.
Legal factors: These are those factors which has been included different kinds of laws and rules
that has been passed in relation over business organisation that lead upon making rules and
regulations formed in order to deal with various kinds of issues related to risk management. Such
factors makes framework developed in relation to risk management. This impacts Nature care by
making sure that risk management is been conducted in more effective manner. Also it assigns
legality in relation over it.
Environmental factors: Such factors are based upon creating environmental awareness which
makes environment protected laws formed. Also these factors impacts organisation in a way that it
helps in initiating goodwill within the market. Organisation like Nature care's risk management gets
impacted in a way that if carbon foot prints is used more by the organisation then its goal of
environmental friendliness is affected which directly impacts goodwill of the organisation.
10 Establish the strengths and weaknesses within your business that have the potential to create or
impact risk.
Note: You may choose to use any relevant analysis tool (e.g. SWOT analysis) to answer instead of the
questions below.
10.1 Are the current risk management policy/procedures complete and comprehensive?
Yes, the current risk management policies are comprehensive in nature as they help in dealing with
financial risk in more effective way.
10.2 What is the state or condition of business’ resources relevant to your risk management process
or project?
The most relevant resources that is been used is legislation and evaluation process which makes risk
management done with proper feedback.
10.3 How effective are existing communication mechanisms between management and the
workforce?
The existing communication mechanism is very much effective and has helped in making management
circulate information in more effective way.
10.4 How loyal are staff?
Staff is most loyal as they perform activities as per the guidance provided.
10.5 What is the size and quality of the customer data base?
The size is very diverse and quality of customers is high in nature which made customers base increased.
10.6 What is the business’ ability to fund or raise funding?
Ability over raising fund is high which makes organisation accomplish risk management objective.
10.7 What is the business’ cash flow situation?
Cash flow of business is also good and smooth with proper balance.

10.8 Are supplier relationships strong and reliable?
Yes, suppliers relationship are strong and reliable.
Attach: Policies and procedures ☐
Communication to explain risk management process
to stakeholders (if relevant) ☐
Communication to invite stakeholders to identify
risks (if relevant) ☐

Section 2: Identify and analyse risk
1 Plan to discuss risks with invited stakeholders (identified in Section 1).
10.9 Choose a tool or technique to facilitate the group discussion to identify risks within the scope of
the risk management process
So, in relation to case study it can be observed that financial risk is been identified through using root
cause analysis which has helped in understanding all the factors before risk analysis.
10.10 List what will be discussed (e.g. identify risks, assess risks, risk treatments, priorities etc.)
The discussion which has to be done is based over risk treatment which is process in which various
principles is been involved that leads upon making risk to be analysed in more effective manner. It is
based upon making proper guidelines developed which makes risk to be solved in more effective manner.
Also it is helpful in identifying of various factors that leads towards causing risk. Further the process
makes appropriate treatment done towards risk management. In this case risk management process is
used for solving financial risks.
10.11 What method and scale will you use to assess the likelihood and severity of the risks?
Different kinds of methods if been used which makes severity of risk understood that is calculating the
risk which is done by formulation of risk which is livelihood x severity. This formula applied in the given
case makes risk depth to be understood.
10.12 What will guide how you prioritise risk (e.g. risk matrix)?
This can be achieved by using risk matrix which makes all kinds of elements and tasks separated which
makes priority of the risk understood in more effective manner. In this case risk management helps in
making sure that risk is been understood form all angle. A risk matrix is a matrix that is used during risk
assessment to define the level of risk by considering the category of probability or likelihood against the
category of consequence severity. This is a simple mechanism to increase visibility of risks and assist
management decision making.
10.13 What are you prepared to negotiate?
Negotiation can be done with the help of communication channels over the products and its quality. In this
case negotiation is going to be done over the eco friendly products and how ti set its pricing for all
segments which makes risk reduced.
10.14 How will you negotiate?
In this case negotiation can be done on the basis of STP model which makes segmentation, targeting and
pricing possible in more effective manner. Negotiation helps nature care in eliminating risk form product to
be sold.
10.15 Explain questioning and listening techniques you will use to elicit opinion and clarify
understanding.
Other techniques which can be used is SWOT analysis which helps in making internal factors analysis in
proper manner. Regarding nature care risk is been identified through SWOT analysis by understanding
about weakness and threats taking place over product required to be sold.

11 Summarise risks.
11.1 Summarise at least three risks identified at the meeting that apply to the scope of your risk
management process or project. For each risk:
The risk which has been identified is based on criminal proceeding and cash flow in relation to financial
services. So, risk identified is based upon financial risk which has been impacting organisations
performance internally..
Potentials stakeholders like Finance manager, financial assistance and payroll officer is responsible over
making risk to take place. Further factors like theft, unethica
11.2 Identify which type of risk it is.
In order to makes risk evaluation is done on the basis of risk matrix and formula. Also in this case
potential outcome which can be eventuate is based upon making growth in relation over profit done in
more effective manner. Also in this sustainable with new projects can be achieved by the organisation
nature care.
11.3 Identify who may be responsible for the risk.
In this case nature acre can use various kinds of techniques like PESTEL and SWOT analysis which
makes all factors identified in more effective manner. Bot these analysis helps an organisation like nature
care analysable about factors responsible for risk.
11.4 List at least two potential outcomes should the risk eventuate.
In relation over the case study it can be achieved that risk matrix can be identified with the help of making
risk elements understand through dividing them in three levels which is low, moderate and high. In this
very high risk required to be given priority, then moderate risk should be deal and low risk should be
reduced completely. This leads upon making risk done in more effective manner. In this case the highest
amount of risk is theft of stock which is an crime and is causing company heavy loss of stock also. Since
the organisation is bringing new product it cannot resits loss in relation to it.
11.5 What treatment alternatives were discussed?
Dear sir,
It is requested to the finance assistance that an meeting is required to be held on the discussion related
to the risk management process applicability. Kindly make sure that its report upon analysis is to be
prepared as soon as possible. Also relevant data in relation over risks accrued in relation should be
mailed back to ( finance mangernaturecare@89). So kindly make sure that these points is been fulfilled
before joining the meeting. Also impact of potential stakeholders can be understood in more effective
manner.
Thanks you.
(Finance manager)
11.6 How do the stakeholders want to prioritise the risks?
By applying various kinds of legislation risks is been identified.
11.7 How do the stakeholders want to prioritise the risks?
These risk can be identified with the help of ethical codunbcted.
12 Complete the table below to assess the identified risks (using an appropriate scale and stakeholder
input).

Risk Potential outcome Student’s
role
Stakeholder
2
Stakeholder
3
C
o
m
b
i
n
e
d
v
a
l
u
e
(
e
.
g
.
a
v
e
r
a
g
e
)
Likelihood Impact Likelihood Impact Likelihood Impact Likelihood Impact
Theft of stock
or cash on
retailed stores.
Cash flow and
criminal problems
3 5 6 7 8 5 3 6
Delay in payment
weakening of new
suppliers
1 3 2 4 5 1 6 1
Demand on
payroll and
accounts
receivable
Retention issue 2 4 5 3 6 9 2 4
Work performance 9 1 3 7 4 9 1 2

Risk Potential outcome Student’s
role
Stakeholder
2
Stakeholder
3
C
o
m
b
i
n
e
d
v
a
l
u
e
(
e
.
g
.
a
v
e
r
a
g
e
)
Likelihood Impact Likelihood Impact Likelihood Impact Likelihood Impact
Financial risk Loss and less
growth
5 4 2 3 1 3 3 3
Lack of
sustainability
7 6 1 2 6 9 5 1
13 Research risks
13.1 Research each of the identified risks to learn more about the risk and any related risk treatment
options.
In this the two main research risk identified is based over internet research and technological
solutions.
13.2 Summarise the research done for each identified risk.

In this case new store has been opened by nature care for its new products which is eco friendly.
The above table explains about the risk which has been presented in relation over risk that is been
identified. Also in this various kinds of risk involved within it is been understood in relation to its potential
impacts. Also in relation over identified risk it can be understood that what likelihood and impact is
required to be hold by the stake holders.
13.3 List the options available to you to treat your identified risks.
Different options available over solving problem has been explained as follows:
Documentation Reviews
Such standards practices makes identification of risk through allowing reviewing of documents
involved within project that makes more relevant information created. Under it documentation review is
been analysed which makes that makes organisation like nature care develop understanding about the
risks which can take place.
Information Gathering Techniques
These techniques holds similar techniques that is used for collecting requirements as per the
project. It is helpful for organisation like Nature care in a way that risk is been analysed through following
process which are as follows:
Brainstorming
Brainstorming is done with a group of people who focus on identification of risk for the project. In
this group of stakeholders is required to understand about risks and its elements.
Delphi Technique
A team of experts is consulted anonymously. A list of required information is sent to experts,
responses are compiled, and results are sent back to them for further review until a consensus is
reached.
Interviewing
An interview is conducted with project participants, stakeholders, experts, etc to identify risks. In
this nature care can used its customers review done over the product.
Root Cause Analysis
Root causes are determined for the identified risks. These root causes are further used to identify
additional risks. This makes all kinds of basic elements understood by nature care in more effective
manner.
Swot Analysis (STRENGTH, Weakness, Opportunities And Threats)

Strengths and weaknesses is been identified which is based over the projects which has been
chosen. It leads nature care understood about all kinds of strength and weakness of its products which
makes all elements analysed.
Checklist Analysis
This makes all kinds of risk analysed used over making additional risk over the project achieved.
This makes different kinds of risk analysed in proper manner.
.Assumption Analysis
In this identification of various kinds of assumption over the project is been determined trough
validity of risk involved.
Outputs to Identify Risks
t makes identification over risk registration been done in more effective manner.
Risk Register
In this risk register is bee used which makes living documents to be updated over regular basis
through out project life cycle and makes historical records to be used in future.
13.4 Attach proof of your research to this section of your portfolio.
Use digital technology to document and calculate risk (e.g. a risk register). Include the risk, potential
outcomes, likelihood, impact/severity, risk calculation, treatment actions and priority of each treatment
action.
Note: Risk is calculated (likelihood)x(impact).
Attach: Proof of your research (2 sources) ☐
Stakeholder meeting ☐
Risk assessment (likelihood and impact) if you did
not use the table provided ☐
Digital risk documentation e.g. risk register ☐

Section 3: Implement and monitor risk treatment
1 Complete the action plan below for ONE of your selected risk treatments (in your Risk register in
Section 2).
Note: If your business already has an action plan template or other specific documentation
requirements, use them instead and attach your work to this section of the portfolio.
Risk: Financial risk
Action: In this RPA system is required to be used.
Desired
outcome:
The desired outcome is to make profit attained and legality over finacial
transactions.
Overall
person
responsibl
e:
In the the person responsible for it is finance manager. As all the responsibility
related to finance and stock management is been handled under his rules.
Step: Person
responsibl
e:
Timefram
e:
Resource
s:
Performance
measure:
Outcome
requirements:
Done
?
Analy
sing
Financial
assistance
1-4
months
RVSP On the basis of
stock
To reduce
duplicate of
stock
Yes
Farmi
ng
Legal
personal
2 months Criminal
act 1996
Over reduction
in crime
Reduce stock
theft
Yes
Identi
fying
Cash
assistance
1 Cash
counter
Over
increasing
profit
Increasing
sustainability
No
Actin
g
Payroll
manager
1 Data
analysis
Ataing
syatianabiity in
market
Making
outcomes
achieved
Yes
14 Communicate the action plan to relevant parties (each person responsible for a step in the action
plan).
14.1 To who will you communicate?
In this communication is been done to the finance manger
14.2 How will you communicate (e.g. face-to-face discussion, email)?

Communication can be done with the help of conducting meeting and face to face discussion.
14.3 Unless already viewed in person by your assessor, attach proof of your communication to this
section of the portfolio (e.g. email with attachment, project schedule, video of team meeting
etc.).
Dear sir,
It is requested to the finance assistance that an face to face meeting is required to be held on the
discussion related to the risk management process applicability. Kindly make sure that its report upon
analysis is to be prepared as soon as possible. Also relevant data in relation over risks accrued in
relation should be mailed back to ( finance mangernaturecare@89). So kindly make sure that these
points is been fulfilled before joining the meeting. Also impact of potential stakeholders can be understood
in more effective manner.
Thanks you.
(finance manager)

15 Implement your action plan and maintain documentation.
15.1 Which step will you implement?
Dear sir,
It is requested to the finance assistance that quotes is required to be held the discussion related to the
risk management process applicability. Kindly make sure that its report upon analysis is to be prepared as
soon as possible. Also relevant data in relation over risks accrued in relation should be mailed back to
( finance mangernaturecare@89). So kindly make sure that these points is been fulfilled before joining the
meeting. Also impact of potential stakeholders can be understood in more effective manner.
Thanks you.
(finance manager)
15.2 What are the organisational policy and procedure requirements to implement your chosen step
in the action plan
The ethical code of conduct is to be followed which is going to help in making procedure followed in more
effective way.
15.3 Attach proof of implementation to this section of your portfolio .
In this secondary data has been used for making best outcome achieved.
15.4 Describe how you maintained the documentation to indicate completion of the step
In order complete documentation work all kinds of documents related to risk management is been
covered.
16 Monitor your risk management process or project.
16.1 What data is available?
The data available has made various kind of elements identified which has helped in making sure that risk
identified is been handled in proper manner.
16.2 Have any new risks emerged?
No, new risk has not emerged.
16.3 Have any incidents been recorded?
Incidences of theft and wrong data entry has been found.
16.4 Have you (or other stakeholders) received or provided feedback?
Yes, provided feedback has been attained by the stakeholder that has helped in making things done in
more organised manner.
17 Evaluate your risk management process or project.
17.1 Are you identified risks still relevant?
Yes the identified risk is still relevant as per the situation that has accrued within an organisation like
nature care,
17.2 Have your risk treatments been successful?
Yes, risk treatment has been done in successful manner.
17.3 Are there any new risks?
No, new risk is been identified.
17.4 How satisfied are stakeholders with your action taken to manage risks?
Stakeholders are satisfied upon the actions that is taken on the basis of risk management done in more
effective manner.
17.5 Are your selected treatment options still in line with best practice?

Yes the selected treatment has been making best practices achieved in more organised manner.
17.6 Is any other risk treatment necessary?
NO, any other risk treatment is not necessary. Since the appropriate risk treatment is been provided
through legislation and action plan.
17.7 Write a report on the outcomes of the evaluation and attach it to this section of your portfolio. In
you report, include:
It can be observed that risk management process is been able to solve problems related to financial
risk that has emerged due to theft of sticks and wrong data entries. The action plan reported has
helped in solving problems related to risk in more effective manner. The risk that is no longer valid are
theft of stock and wrong entries that made all problems solved in more organised manner.
Attach: Action plan (if relevant) ☐
Proof of communicating action plan ☐
Proof of action plan step implementation ☐
Proof of how you maintained documentation (if
relevant) ☐
Evaluation report ☐