ChaiCoffee Melton Store: Finance, Audit, Risk Management Report

This report provides a detailed risk assessment for the opening of a new ChaiCoffee store in Melton. It begins by defining risk likelihood and consequences, using a risk management matrix to evaluate potential issues. The report then outlines a risk assessment plan, identifying key risk areas such as h...Read More

Part 2: identification and analysis of risk assessment
A probability associated with risks:
 Almost certain
The event that occurs 100%
 Likely
Indoor occurrence 60-80% conceivable
 Possible
outdoor occurrence 20-40 % Possible
 Unlikely
it is doubtful but still conceivable like a corporation car accident. 6-20 %
 Rare
extreme situations like death of an individual at work. 0-5 %
Risk Consequences:
 Catastrophic:
No outlet of license
 Moderate
Procedures of associated audit concluding
Insignificant environmental
 Major:
It’s between minor along with major
 Minor:
Solitary stakeholder
Regulation or mandated standards
 Insignificant:
Death or several grievances
Extensive environmental damage for long term that includes 5 years or more

Risk Management Matrix
Consequences
Likelihood of risk
Rare 1 Less Likely 2 Possible 3 Likely 4 Very Likely
5
No Risk 1 1 2 3 4 5
Minor 2 2 4 6 8 10
Moderate 3 3 6 9 12 15
Major 4 4 8 12 16 20
Catastrophic
5
5 10 15 20 25
1-3 Low Level risk 4-6 Low/Medium Risk 7-8 Medium Risk 9-15 High Risk

Risk Assessment matrices for Finance
Consequences
Likelihood of risk
Rare 1 Less Likely 2 Possible 3 Likely 4 Very Likely
5
No Risk 1 1 2 3 4 5
Minor 2 2 4 6 8 10
Moderate 3 3 6 9 12 15
Major 4 4 8 12 16 20
Catastrophic
5
5 10 15 20 25
Risk Assessment matrices for the Source Equipment
Consequences
Likelihood of risk
Rare 1 Less Likely 2 Possible 3 Likely 4 Very Likely
5
No Risk 1 1 2 3 4 5
Minor 2 2 4 6 8 10
Moderate 3 3 6 9 12 15
Major 4 4 8 12 16 20
Catastrophic
5
5 10 15 20 25

Risk Assessment Plan
S
#
Risk
Areas
Health
and
Safety
Legal
Agreeme
nt
Financial Staff Insuranc
e
Reputati
on and
brand
recogniti
on
Environme
ntal
Contempla
tion
1 Lease
Requirem
ent along
with
parking
facility
Obtainabi
lity for
the
disabled
parking
facilities
rendering
safety
aspects
Legal
process
that are
involved
in lease
Investme
nt
required
for
leasing
2 Inadequa
te capital
Risk
associate
with
investme
nt and
financial
managem
ent
Purchas
e
Insuranc
e
3 Location Prime
position
is
compuls
ory for
goodwill
Deliberate
Environme
ntal safety
for
assembling
equipment
4 Legal
Condition
for waste
deliveries
along
with
trading
hours
Council
consent is
compulso
ry for
trading
hours
Recyclable
substantial
is
integrated
to guard
environme
nt
5 Acquiring
Staff
Experienc
e staff is
compulso
ry
6 Source
Equipmen
t
Investme
nt
compulso
ry along
Staff
Training
and
developm
Environme
ntal
approacha
ble

with the
Value of
equipmen
t
ent is
essential
to
function
equipmen
t
equipment
along with
Smoke
airing
7 Support
Services
Basic first
Aid
provision
is
provided
Legal
progressi
on in the
human
resource
developm
ent
Cleaning is
mandatory
for keeping
environme
nt hygienic
8 Insurance
s
counting
billing,
safety
along
with fire
theft
Insuranc
e is
compuls
ory for
theft
along
with fire
risks
9 Furniture
for clients
Special
furniture
rendering
accurate
protectio
n for kids
Rate of
furniture
Stylish
along
with
well-
preserve
d
furniture
that
would
enhance
custome
rs
experien
ce
1
0
Office
Setup
Appropri
ate fire
organizati
on
system,
Clearing
Plan
Environme
ntal
responsive
Machinery
that
ensures
diminishing
pollution

Risk Evaluation Plan
Risk
Assessment
Likely hood Consequences Risk
Associated
Kind of Action
required
Prioritization
Lease
Obligation
along with
parking
1 3 3 Pre-planned
arrangement
required
Low Risk
Finance 2 2 4 Appropriate
survey is
compulsory
for well-
adjusted
investment
Low to
Medium Risk
Location 1 4 4 Deliver
affluence of
accessibility
Low to
Medium Risk
Legal
Obligation for
waste
distributions
along with
trading hours
2 4 8 Harmonization
with council is
compulsory to
track the
directions
Medium Risk
Acquiring Staff 3 5 15 Experienced
along with
proficient staff
is essential
Medium High
Risk
Source
Equipment
2 4 8 Cheap along
with
environmental
approachable
apparatus is
mandatory
Medium Risk
Care Services
counting first
Aid
2 3 6 Amenities for
Medical
services must
be provided
Medium to
Low risk
Insurances
counting
billing, safety
along with fire
theft
3 5 15 Every Worker
along with
property
should be
indemnified
Medium to
High Risk
Furniture for
clients
4 2 8 Safety Symbol
must be
noticeable
Medium Risk
Office Setup 1 5 5 Consider Low to

Airing and
clearing
system
Medium Risk
Risk Management Plan
S
n
o
Risk
Areas
Health and
Security
Legal
Agreemen
t
Financial Staff Insuranc
e
Reputati
on and
brand
recogniti
on
Environme
ntal
Contempla
tion
1 Lease
Condition
and
parking
Appropriat
e space
must be
provided
for
incapacitat
ed persons
All lawful
certificati
on must
be done.
Lease
must be
compensa
ted on
time
Preserve
stable
financial
volume
for
venture
2 Finance Make
appropri
ate
financial
approac
h
Accurate
insuranc
e must
be
obtained
3 Location Appropri
ate site
survey is
compuls
ory for
prime
location
Equipment
must be
fixed
according
to
strategies
of
environmen
tal
establishme
nts.
4 Legal
Condition
for waste
distributi
ons along
with
trading
hours
Trading
hours
must be
rendering
to council
instructio
ns and
guideline
The
substantial
that is
integrated
in the
occupationa
l should be
inclined of
appropriate
ly

5 Obtaining
Staff
Job post
must be
publiciz
ed to
recruit
qualifie
d staff
6 Source
Equipme
nt
Involved
participa
nts along
with
investors
to
capitaliz
e capital
Specializ
ed staff
is
recruitin
g to give
training
to new
workers
High
technology
must be
mounted
for better
environmen
tal
consequenc
es
7 Support
Services
Paramedic
al workers
must be
employed
to deliver
training
Proper
recruitme
nt
procedure
should
smear for
skill
estimatio
n
Don’t dump
the trash in
exposed air
to
circumvent
pollution.
8 Insurance
s
including
billing,
safety
along
with fire
theft
Insuranc
e is
compuls
ory for
burglary
and fire
threats
9 Furniture
for
clients
Distinct
sitting
preparatio
n for kids
and old
aged
individuals
Acquisiti
on
furniture
for
inexpens
ive mart
to
diminish
cost
Furnishe
r of
virtuous
comfort
should
acquired
1
0
Office
Setup
Appropriat
e fire
administra
tion
arrangeme
Environmen
tal
approachab
le
Apparatus

nt
functional,
Clearing
Plan
to
condense
pollution
Risk Action Plan
S No Area of
consideration
Action to be taken Resource required Time Taken Cost
Associated
1 Health and
Security
Follow safety
defences
Rationalized
equipment
Utensils
Training
Substantial
Furniture
Monthly 500-1000$
2 Financial Steady Bank Balance
while
Paying charges on
time
Experience
Worker,
Data Based
Management
Arrangement
Daily,
weekly
500$
3 Staff Training must be
provided
Planning of
workshops
Appointment of
guides, Authorities
Quarterly 2000-3000$
4 Reputation and
brand
recognitions
Exhibition should be
respectable,
Progress the quality
Obtaining from
top brands in
marketplace
Well ornamented
capability
Yearly 5000$
5 Environmental
Deliberation
Take maintenance
steps of global
warming along with
Council Strategies,
Progressive
Mid Yearly 2000 -3000$

greenhouse
consequence,
Connect
environmental
approachable
apparatus
equipment
Summary:
Recognizing risk in an occupational is a stage in constructing the work area harmless for all the
participants. As an occupational it encompasses a ration of prospective dangers that originates with
recognizing the risk than rendering of the risk along with appraising the risk assistances accomplish the
injury it can convey. Above providing tables along with supplements is an instance of how a commercial
can appraise along with minimise the risk by the assistance of risk assessment medium.