BSBRSK401 Assignment: Risk Identification, Planning, and Management

This document presents a comprehensive solution to a BSBRSK401 assignment focusing on risk management within the context of the Macville scenario. The solution encompasses several key components, including the preparation of risk identification tools, a complete risk register template, and a detailed risk treatment action plan. It also features a reflective report addressing risk identification processes, relevant legislation, and the application of risk management standards (AS/NZS ISO 31000:2009). Furthermore, the assignment solution includes transcripts of role-play consultations with stakeholders, such as the Operations Manager, Human Resources Manager, and a Technology Manager. The document also includes a project schedule, a portfolio of evidence demonstrating implementation of the risk management plan, and a risk audit report, along with recommendations for continuous improvement of risk management practices. The assignment highlights the importance of aligning risk management strategies with organizational requirements and legal frameworks, emphasizing the use of research, information gathering, and stakeholder input in the risk assessment process.

January 10, 2019 [BSBRSK401 Identify risk and apply management processes]
ASSESSMENT TASK 1- Submission-15th Jan
Review the Macville scenrio /Appendix 1/
1. Prepare risk identification tools /checklist/
2. A complete risk register template /Appendix 2 /
3. A complete risk treatment action plan /Appendix 3/
4. A write reflection report /follow the question guide/
5. Participate role play with 3 stakeholders
o Consultation role play with Operations Manager
o Consultation role play with Human Resources Manager
o Choice of any stakeholder from the list
Tools checklist example: CHECKLIST
Area of uncertainty Checked
Legislative, regulations
Financial
Environmental and sustainability
Community and Social
Public relations
Operation
Ethical and Moral
Contractual and legal
Communication
Project delivery and implementation
….

January 10, 2019 [BSBRSK401 Identify risk and apply management processes]
Appendix 2: MacVille risk register template
Appendix 3: MacVille risk treatment action plan template
Risk Risk
consequence
Risk likelihood
/Rare, Unlikely,
Possible, Likely,
Almost certain/
Risk level
(Low, Medium, High,
Extreme)
Control/s
1. Import
related risks
(such as
increase in
tariff /
Dampens the
business of
supplying coffee
to cafes and
restaurants
causing
disruption in
supply
Possible
Extreme
Get and store
additional supply
of coffee
2. Supply risks
(spoiling of
supplier
relationship)
Spoils business of
the organisation
Likely
High
Appoint person
to maintain
relationship with
supplier
3. Workforce
risks
Has capability to
spoil smooth flow
of the business
Possible Medium Negotiate with
the union for any
challenges being
faced by the
workforce
Review and maintenance requirements:
Each business process is to be reviewed on a timely basis for varied maintenance purposes. Frequent
review and maintenance of the assets and supplier relationship will enable the business to function
in a smooth manner. Staffs and employees will need to be appointed such that they can review and
monitor the maintenance of these assets and technology as well as supplier relationships.

January 10, 2019 [BSBRSK401 Identify risk and apply management processes]
1. Consultation role play 1-Operation Manager
You: Hello, I would like to discuss about business direction of the company?
Operation Manager: Good morning, great, I was wondering a this discussion earlier. We need to
discuss about new supplier situation urgently.
You: What is the current situation with the new supplier? We should be able to make new tie-ups
for entering into supplier relationships.
Operation Manager: There are various new suppliers from Papua New Guinea (PNG) who would
like to supply raw materials at a cheaper rate and high quality.
You: We need to cross-check their quality with our quality team and then appoint them as our
supplier or enter into any type of agreements with them.
Operation Manager: They are willing to visit us or send us samples of their products, which we can
check with our quality experts and then negotiate business with them.
Risk treatment
activity
Recources
required
Person responsible
Timelines
1. Plan and
schedule
demand
according
take imports
Demand
scheduling
Inventory manager
4 weeks
2. Manage
supplier
relationship
with
assigned
personnel
Supplier
relationship
handling
Manager handling
supplier’s/ Supply chain
manager
5-6 weeks
3. Prepare a HR
plan for
management
of
employees
Handling
employees
effectively
Human Resource
Manager
4 weeks
Review and maintenance requirements:
The risk treatment activities need to be reviewed in a frequent manner and updated timely.
Review and maintenance of such planning activities will ensure that all risks are appropriately
catered to.

January 10, 2019 [BSBRSK401 Identify risk and apply management processes]
1. Consultation role play 2-HR
You: I would like to discuss regarding the new HR plans of the organisation in line with business
direction.
Human Recourse Manager: I was wondering a new HR plan that we should bring in place in order
to cope with the expanding workforce of the organisation.
You: Yes, we will need to have a good HR policy and procedure. We need to include aspects of
WHS requirements as well.
Human Recourse Manager: I have drafted a policy and procedure. I would like inputs from the
team of HRs regarding any possible suggestions for improvisation of the same.
You: I think you should consult an external HR consultant regarding the same and develop our
work procedures accordingly.
Human Recourse Manager: Ok, I will check with any suitable external consultant, who can provide
expertise opinion to our organisation.
1. Consultation role play 3-Technology
You: I would like to discuss the possible technological upgradation for our company, which will
assist its growth.
Manager: I was considering discussing with you the new ERP system and online database that
could assist in conducting the business with ease.
You: I would like to view the various technological applications available in the market currently
and find the best possible technology suited for the organisation.
Manager: I will want to call upon a tender by inviting all the technological company to provide
quotation regarding the best solution and systems available for the company.
You: Yes, after viewing through various tenders an appropriate and suitable solution for the
company will be selected.
Human Recourse Manager: We need to ascertain proper HR skills and capability such that they are
able to perform tasks accordingly.

January 10, 2019 [BSBRSK401 Identify risk and apply management processes]
6. Written Reflection
Write a reflection on the process you undertook to identify risks and plan risk management
1. Reference to specific legislation and regulations and the key provisions relevant
to risk.
The specific legislations that are relevant to the identified risks are Safe Work
Australia and WHS laws. Laws related to contract is also applicable for
maintenance of relationship with suppliers and inventory.
2. explanation of how your process was consistent with organisational requirements
and AS/NZS ISO 31000:2009, and comment on the purpose and key elements of
current risk management standards, including audit requirements.
- The current risk plan and its management have been designed taking into
consideration the legislation, regulations and key provisions related to such risks.
This ensured consistency with the legislative requirements and also AS/NZS ISO
31000:2009 requirements. This will assist in managing risks and standards also
comply with the auditing requirements. The process was made consistent through
continuous evaluation and monitoring activity. Appropriate documentation of the
risk management procedure with activities was noted and then it was cross-
checked with the performance management metrics to understand any disparities
with the process as per legislative requirements.
3. identification of the tools you used and explanation of your use of tools to
identify risks.
- The risks of the organisation have been identified by documentation
review. I viewed through the supplier, inventory and other documents in
order to understand the various risks that are in consistent with the
organisation. Tools for identifying risks will be scorecard matrix, where
risks will be monitored and documented. A scorecard matrix will assists in
measuring of risks within set parameters.
4. explanation of how you used research and information-gathering skills to identify
risks and determine the acceptability of risk
- Reaching and information gathering skills is applied for identification of risks and
in determining the acceptability of such risks within the organisation. I have gone
through all the documents in detailed and in-depth manner in order to identify
the risks associated with it.
5. explanation of how information from consultation with stakeholders informed
your analysis and evaluation of risk

January 10, 2019 [BSBRSK401 Identify risk and apply management processes]
- Information obtained from consultation with stakeholders have informed
regarding the analysis and evaluation of the risks. The stakeholders revealed
several important information related to the varied risks and ways in which
such risks affected them. They could provide the exact impact and level of
influence concerning those risks, hence it enabled evaluation and analysing the
risks facing the organisation.
6. explanation of how you weighed control options’ strengths and weaknesses
and determined controls
I weighed control options’ strengths and weaknesses and determine controls
by understanding its impacts on the organisation and determining its effects
on the business.