BSBRSK501 Manage Risk: A Detailed Case Study on Expansion Project

This document provides a detailed solution to a case study for BSBRSK501 Manage Risk, focusing on the risk management strategies employed during a regional expansion project. It includes an analysis of political, economic, social, and technological factors (PESTL), as well as a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. The solution outlines risk assessment tables, risk management plans, and action plans for treating identified risks, such as financial, compliance, operational and IT risks. It also addresses stakeholder communication, documentation processes, and ongoing evaluation methods. The document further includes evidence of the implementation of the risk management plan, such as stakeholder registers and risk assessment plans. The case study also touches upon the importance of risk communication and adjustments needed for successful project implementation. Desklib provides a platform for students to access similar solved assignments and past papers.

BSBRSK501 Manage risk
1

Table of Contents
Assessment 2 Case Study...........................................................................................................3
Assessment 3 Practical Demonstration....................................................................................17
References................................................................................................................................18
2

Assessment 2 Case Study
Stage One: Establishing the risk context and identifying risks
Context
Political factors: The political factors which affect the working of Town and County
Services are related to the policies related to the taxation, government stability, policies
related to social nature and the trade regulations.
Economic factors: The economic factors that affect the operations of the TCS are the factors
such as interest’s rates, inflation, disposable income related to the buyers.
Social factors: The factors which assess the behaviour of the customers in the given market
such as educational level, population, trends affect the working of TCS.
Technological factors: These factors help in the development of the regional expansion
project effectively. The factors that are involved in this arrangement are technological
platforms, innovations and the discoveries.
The strengths and weaknesses of any existing arrangements:
Strengths Weakness
Dispute mediation is conducted between the
individual and the local authorities about
planning and building matters.
Involvement of the less technology in the
office
Staffing requirements
Scoping
(a) Describe goals/objectives of the business. Consider factors including:
Technological innovation: It comprises of such acts which help in the contribution related to
the products or the developments or to improve the existing products. In terms of TCS, the
goal is to develop the technological innovation which includes the development of features
such as video conferencing for the remote clients.
3

New products or services: The services such as separate meeting rooms for the clients are
developed for the consultancy and the mediation services.
Opening new markets: The new market needs to be executed in different areas which involve
various forms of the decisions in relation to expansion.
Organisational structure: It involves the structure which involves the basis of renting an
office and providing effective services to the clients.
(b) Explain the scope of the project in terms of “deliverables”
The regional expansion project is delivered in such form which helps in the effective growth
and the expansion of the project plans. The expansion project if fulfilled with the given
requirements which help in the formation of both the profits and the growth opportunities.
The deliverables involved in this project is related to the research, contract evaluation,
documentation, etc.
(c) Relate the deliverables to the goals/objectives of the organisation and explain how
the project promotes them
The deliverables such as research help in the business of TCS to develop and expand its
project. This also helps in the development of the effective designing related to the projects.
This helps in the development of the expansion projects with the help of the effective
expansion plan and the growth.
The technological innovations are involved with the help of the expansion plans related to the
tactics of the effective designing and documentation.
(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.
The critical factors are the indicators that help in measuring the performance of the
organisation in terms of the attainment of goals and objectives. Herein the critical success
factors used in by the TCS for the development of project are:
Customer satisfaction: If the number of customers is satisfied with the acts of the TCS in
terms of expansion then this is considered to be one of the major CSF.
4

Market share: The market share is also considered to be one of the success factor used in the
working of the business.
5

Stakeholders
(a) Explain the relationship between each group of the stakeholders and the identified critical
success factors. Use the template provided below.
Stakeholder Internal / External Role in process Stake in process
Employees Internal Employees help in
the development of
coordination to
implement the
expansion project in
TCS.
The stake of the
employees is in
relation to the growth
opportunities.
Managers Internal Managers help in the
development and the
administration of the
proper planning.
The enhancement in
the profits of the TCS
is the stake of
managers.
Customers External Customers help in the
reviewing the
policies used in by
the companies.
The fulfilment of
their needs and the
wants help in the
development of
satisfaction.
Suppliers External Suppliers help in the
providing easy access
to the services.
Profit making and the
share.
6

(b) Discuss the methods that you can use to communicate with relevant parties and
obtain their support for risk management activities. Explain the kinds of support that
you would invite them to give. Relevant parties include:
All staff: The staff personnel are expected to run as per the standards framed by the
management. They should support the management.
Internal and external stakeholders: These stakeholders helps in the providing the services
and idea regarding the implementation of the expansion projects.
Specific teams: These should help in the development of effective communication and the
coordination in the working environment while the formulation of plans.
Technical experts: These experts support in terms of providing effective technical expertise.
7

Analysis
a PESTL (Political, Policy, Economic, Social, Technological and Legal ) analysis, and;
Political Economic Social Technologica
l
Legal
Political
factors such
as
intervention
from the
government
departments,
taxation
policy affects
the working
of TCS.
The economic
environmental
factors that
affect the
expansion
plan is
inflation rates,
interest rates,
etc.
The factors
related to the
education,
trends affect
the interests
of both the
customers
and the
company.
The latest
trends and the
innovation are
required to
successfully
implement the
expansion
project plan.
The legal
regulation
are in form
of the
application
of the
various acts
on the
working and
other rulings,
(b) a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis
Strengths Weakness Opportunities Threats
The effective
services provided by
the company helps in
enhancing the
satisfaction level of
consumers.
The less availability
of the technologies is
termed as a weakness
in the working of
TCS.
The wider market
expansion is an
opportunity for the
company.
The increased
regulations and
competition is a
threat to the working
of TCS.
8

Research
Risk management policy: These policies should be framed by the senior staff in such form
which involves implantation of the policy in the effective time period and the budget.
Risk management strategies: The risk management strategies should comprise the factor such
as risk advance, risk control, risk transfer, etc. In accordance with this the risks are analysed
and then the appropriate strategies should be selected (Peltier, 2016).
9

Describe
(Source: Safari, 2018).
It is analysed from the case scenario of TCS that there are involved various forms of the risks
in its expansion plan. These are related to incompletion of the budget in the adequate time
period, successful completion of the expansion policy, etc.
10

Stage Two – Analysing the risks
Risk Assessment table
Risks Likelihood Consequences Priorities Options
Financial risks
(Budget)
2 The interests of the
management are
affected at large.
2 The effective plan is
followed with
specific budget and
time frame.
Compliance
risks (non-
fulfilment of
expansion plan)
1 Herein the parties
affected are both the
employees and the
administrative
departments.
1 All the working
should be formulated
in the effective
manner and with
coordination.
Discussion with stakeholder:
The feedbacks are assessed from the customer to develop their views. The feedback which is
assessed by the customers includes the policy to review the application of theories before
applying it in the organisation. Similarly the suppliers views that there interests is not
affected with the expansion plan.
11

Stage Three – Identifying measures to treat the risks
1. Risk Management Plan
Risk Assess Risk
(L, M, H,
E)
Controls Monitoring Timelines Responsible
Financial
Risks
M Can be
controlled
These risks
affects the
working of the
administratio
n
Board of
Directors
Operational
Risks
L Moderately
controlled
Working of
the
management
can be
affected.
Board of
Directors
Compliance
Risks
E Controllable Affects both
the employees
and the
management
Board of
Directors
IT and
Information
Security
Risk
H Moderate Affects the
internal and
external
environment
Board of
Directors
12