Comprehensive Analysis of Risk Management in Diverse Sectors

The assignment delves into the adoption and adaptation of the ISO 31000 risk management standard within different industries, including environmental assessments, project management, marketing strategy development, and financial institutions. By analyzing a range of publications from 2013 to 2017 that discuss these applications, students will gain insights into how standardized frameworks can be tailored to meet industry-specific needs. The exploration encompasses the integration of supply chain risk management, strategic asset management in renewable energy projects, as well as considerations for social and environmental risks such as those posed by shipwrecks and oil spills. Through this comprehensive review, learners are expected to critically evaluate the effectiveness of these frameworks in mitigating uncertainties and fostering sustainable practices across various operational landscapes.

Running head: MANAGE RISK BUSINESS
BSBRSK501: Manage Risk Business
Name of the Student
Name of the University
Author’s Note

1MANAGE RISK BUSINESS
Table of Contents
Assessment 1 - Case Study - Risk Review......................................................................................4
1.1 Introduction............................................................................................................................4
1.2 Scope......................................................................................................................................4
1.3 Goals......................................................................................................................................5
1.4 Stakeholders...........................................................................................................................6
1.5 Analysis.................................................................................................................................8
1.5.1 PEST Analysis................................................................................................................8
1.5.2 Value Chain Analysis.....................................................................................................9
1.5.3 SWOT Analysis..............................................................................................................9
1.6 Describe...............................................................................................................................11
1.6.1 Occupational Health and Safety (OHS)........................................................................12
1.6.2 Government Compliances............................................................................................12
1.6.3 Financial Operations.....................................................................................................12
1.6.4 Human Resources.........................................................................................................13
Assessment 2 - Case Study - Risk Analysis..................................................................................15
2.1 Risk Identification...............................................................................................................15
2.2 Manager’s Travel Risk........................................................................................................16
2.2.1 Manager’s Travel Risk: Likelihood..............................................................................17

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2.2.2 Manager’s Travel Risk: Consequence..........................................................................17
2.2.3 Priority..........................................................................................................................17
2.2.4 Manager’s Travel Risk: Options...................................................................................18
2.3 By-law Compliance Risk.....................................................................................................18
2.3.1 By-law Compliance Risk: Likelihood..........................................................................18
2.3.2 By-law Compliance Risk: Consequence......................................................................19
2.3.3 By-law Compliance Risk: Priority................................................................................19
2.3.4 By-law Compliance Risk: Options...............................................................................19
2.4 Banking Risk.......................................................................................................................20
2.4.1 Banking Risk: Likelihood.............................................................................................20
2.4.2 Banking Risk: Consequence.........................................................................................20
2.4.3 Banking Risk: Priority..................................................................................................21
2.4.4 Banking Risk: Options..................................................................................................21
2.5 Risk Management Plan Table..............................................................................................22
Assessment 3 - Research Project...................................................................................................24
3.1 Manager’s Travel Risk........................................................................................................24
3.1.1 Plan...............................................................................................................................24
3.1.2 Implementation.............................................................................................................25
3.2 By-Law Compliance Risk....................................................................................................25
3.2.1 Plan...............................................................................................................................26

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3.2.2 Implementation.............................................................................................................27
3.3 Banking Risk.......................................................................................................................27
3.3.1 Plan...............................................................................................................................28
3.3.2 Implementation.............................................................................................................28
3.4 Outcomes.............................................................................................................................28
3.5 Evaluation............................................................................................................................32
Bibliography..................................................................................................................................34

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Assessment 1 - Case Study - Risk Review
1.1 Introduction
A detailed investigation is to be performed in this Toowoomba MacVille Café study. To
identify several risks that are currently involved in the system are mentioned as following: New
goals are to be achieved; Involve certain stakeholders as per their expertise; technological,
economic, political, and social features; identify weaknesses and strengths; find out risks and
opportunities; and Analyze project outcomes. Specific reason based on which this particular
investigation should be conducted is identification of the good and bad perspectives about risk
management planning. The report should convey what are the necessary changes required for
implementation in MacVille café. The changes should be identified based on work efficiency
increasing with involving certain legislative laws. Conducting investigation is important for
viewing the consideration of staff member allocation, community incorporation, and project
management activities. Moreover, the investigation should be conducted in a manner to
demonstrate the aspects in which management, staff members, and government should be
involved along with community.
1.2 Scope
MacVille Pty Ltd have implemented chain of café and shops in central distract of
Brisbane, Queensland, and CBD of Sydney for becoming central tycoon in Australia. The re-
branding strategy for existing Hurley Café in Toowoomba should be incorporated with decisions
taken by board of directors. This particular report focused on identifying the risks in Toowoomba
along with exposing analytical outcomes and likelihoods, consequences of risks, and priority in
risk treatment.

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1.3 Goals
Purpose of risk treatment and management is considered for ensuring smooth and proper
transition towards MacVille Pty Ltd. The risk management plan is considered into account for
providing ongoing support to company and its risk management initiatives. The risk management
aims are listed as following:
a) To ensure appropriate manner of transition to MacVille systems
b) To meet mentioned compliance standards of OHS, industrial and privacy
relations law
c) To employ existing staffs for getting every person for understanding personal
roles and responsibilities
d) To set up written policy and procedures for guiding staffs over carrying out
personal duties
e) To reduce water usage and install water tank
f) To build up professional business culture along with business goals
g) To monitor and investigate about the changes in business, external
environment, and finding out opportunities and threats to business
While opening new café and store in Toowoomba, there exists two major goals in the
project. The primary goal is identified as involving the business with growing and running newly
opened café. The second goal is identified as focusing on potential risks that are involved in
opening the new café.
Primary goal of business is aimed at opening new base of customers for MacVille in
order to expand business and grow business popularity. New store in Toowoomba can increase

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overall profit for help spreading awareness of café with bringing new customers into service
offering. The second goal in the study is to identify potential risks that are involved in opening
new café and identification of certain actions that needs to be included in place for eliminating
risks. The identified risks and threats can be resolved with identifying the internal risks and
external risks. The internal and external risks should be resolved along with performing
assessment with them individually.
1.4 Stakeholders
Stakeholders are identified to be a person who will take responsibility for performing
certain activities in the project; the stakeholders should be included as taking part in the project
actively. The stakeholder interest is identified as positively or negatively affected with project
execution or project completion. The stakeholders can exert impact on project and their
deliverables. Stakeholders are important for performing risk management along with identifying
stakeholders with casting clear vision to mentioned figures in business process. The following
table includes details about stakeholders along with dividing them under types as ‘internal’ or
‘external’.
Stakeholders Internal/external Role in process Stake in process
Board of
directors in
MacVille Pty Ltd
Internal Providing support,
decision-making,
reviewing CEO’s
performance, measuring
stakeholder performance
MacVille’s business
performance
MacVille’s Café Internal Reporting to board of MacVille’s business

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Queensland CEO
– Paula Kinski
directors along with
managing daily operations
performance
Assistant
managers of
Brisbane Queen
Street store
Internal Managing the new store
activities, managing the
risks of taking over
process
Appropriate transition of
business to Toowoomba
café store
Existing staffs External Hurley’s café existing
staffs and employees
Securing employment
Current
supervisor-in-
charge – James
Mansfield
External MacVille second in-
charge personnel
Offered to personnel level
as second in-charge
person in operations
The legal firm
company –
Goldsmith
Partners
External Providing legal advises
and keeping MacVille
aware about legal
decisions
The legal or compliance
issues can be reduced and
the legal firm can help
with providing legal
decision-making
The landlord –
Ron Langford
External Providing assistance with
store establishment in
Toowoomba
Landlord can get rental
payment from new tenant
The customers External None Order best quality food,
breakfast, and coffee
Table 1: Stakeholder analysis

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(Source: Created by author)
1.5 Analysis
In this analysis process, PEST, SWOT and value chain analysis is accomplished aligned
with mentioned case study of MacVille Pty Ltd.
1.5.1 PEST Analysis
The PEST analysis is performed analyzing the political, economic, social, and
technological aspects in MacVille organization.
PEST
Analysis
Aspects
Political Economical Social Technological
Considered
points
For importing
espresso machines,
tariff cost should
be removed. There
is strong possibility
for introducing
impose of carbon
tax over energy
intensive products
for commercial
usage.
Economic aspect
is identified as
strengthening the
Australian dollar
against trading
partners in recent
years.
Social aspect is
considered as
lifestyle trend for
eating out rather
than taking away
foods. Eating out
is more frequent
and steady
population
growth matters as
well.
New espresso
machines should be
installed with using
30% less energy.
Currently, home
markets for espresso
machines are
following high
growth rate.
Table 2: PEST Analysis on MacVille Pty Ltd

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(Source: Created by author)
1.5.2 Value Chain Analysis
Value chain analysis is considered in this aspect with considering viewpoints:
Inbound logistic: Lack of experience exists for personnel with custom and importing raw
materials
Operations: The management information system can provide internal controlling over
strategic planning
Outbound logistic: The outbound logistic can be contracted with delivering machines on
time due to faster expansion planning.
Sales: The marketing and sales department is performing as per business standard with
strong profit points and this department can be expanded for better performance with using
internet connection.
Service: The MacVille organization can provide better service with building appropriate
reputation on business after sales process is improved for offering services to customers.
1.5.3 SWOT Analysis
In structured analytical manner, the SWOT analysis can be performed with segmenting
the viewpoints under four quadrants as in threats, weaknesses, opportunities, and strengths.
SWOT analysis is performed as following:
Strengths: The strength aspects are mentioned as following:

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a) Location of store on corners in main streets are favorable for easier access to all
local customers
b) Café can attract large group of customers as per easier access to transportation
and stores primary location.
c) Among the staff group, particular staff was trained chef as the chef developed
innovative and popular range of rice wraps. The dish was tasty, healthy and
gourmet. Other café in this chain of business cannot offer these dishes.
Weaknesses: The Hurley’s café is identified as family business store in which Hurley’s
café family members were included among working stakeholder groups. James was considered
as another member in family for supervising café operations and as manager Mr. Hurley would
authorize salaries without authorizing deliverables:
A. There were no written policies and procedures for manuals in stores.
B. Currently, the store use 41,500-liter water a week.
C. Similar staff members who maintain cash register so that balancing can be
completed with bank deposit and staff member can perform banking activities as
well. The banking should be performed daily and often amount of $4,000 kept
unsafe in office premises overnight in cash register.
D. Cash register entry was not considered for all banking procedures over all staff
members.
E. Fit-out parts can be older and fit out chairs can be unattractive that became
unstable and broken along with some other parts. As gaffer type, the carpet was
taped.

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F. There exists no such process for dealing with injuries along with safety at
workplace.
G. Lack of sales process promotion exists for this business strategy and techniques.
H. Wages and salary records considered as incomplete along with several
calculations along with working out numbers of hours that is multiplied with set
amount.
Opportunities: Several opportunities exist for MacVille Pty Ltd:
1) Innovative frozen par-bake cooking system can be used from council with
exhaust system; yet this cooking system can cook fresh bakery food items can be
ready within 30 minutes from frozen par-baked pastries.
2) Opportunities exist for opening more café stores around the surrounding
shopping areas such as Wilsonton, Clifford Gardens and K-Mart plaza.
3) Federal Government National Broadband Network is rolled out in Toowoomba
with allowing efficient and effective way of video streaming and
teleconferencing.
4) Currently, the by-law due from implementation on first of next month allows
café for expanding footpath dining for putting more tables and chairs outside the
café premises.
Threats: Some threats can be considered as:
1. Representatives over large international chain of coffee shops can make enquiries
around the town so that new café store can be opened in Toowoomba CBD.
1.6 Describe