Richmond College: BSBRSK501 Risk Management Report - Orange City

This report provides a detailed risk assessment for Town and City Services, focusing on its expansion into Orange City. It begins by establishing the risk context, outlining the company's services, external factors, strengths, and weaknesses. The report then defines the scope, objectives, and critical success factors of the expansion, followed by an analysis of stakeholders and a PESTL analysis. A SWOT analysis is included to identify strengths, weaknesses, opportunities, and threats. The report continues by analyzing risks, creating a risk assessment table, and identifying measures to treat those risks. It outlines action plans, monitoring processes, and evaluation methods for the risk management plan. Finally, the report examines the ongoing implementation of the risk management action plan, including identified and unidentified risks, and proposes amendments to the plan. It evaluates the plan's effectiveness and the overall risk management process, providing all documents of the work undertaken as evidence that the plan was implemented.

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
Stage One: Establishing the risk context and identifying risks
Context
Write about Town and City Services, what services this company provide. Also write about
“Orange” city as this company is going to open a branch there.
Town and City Services provide cleaning services to industrial and domestic sector.
The cleaning services packages targeting commercial customers consist of cleaning of
commercial spaces, cleaning services for gardens and grounds and cleaning services at
events.
Orange City is a city in the United States of America which is located in Florida. The
city has a population of over a lakh residents with Mr. Gary A. Blair as the mayor.
External factors which might affect the business: Write the factors which can affect the
business
Political factors:
1. Stability of the government enables the companies function efficiently by forming strong
industrial policies.
2. Changes in laws pertaining to customs and taxes.
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Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
3. Strong bilateral relationships which Government of the United Kingdom shares with other
nations including the US enable companies to acquire resources from foreign markets and
sell goods in foreign markets to generate high revenue.
Economic factors:
1. The change in the value of GBP in international currency exchange market has strong
impacts on the value of the goods.
2. Inflation results in increase in the value of goods which in turn starts
Social factors:
1. Spread of awareness about the necessity of cleanliness in the society.
2. Increase in income among the people would enable them to hire cleaning companies.
Technological factors:
1. Advanced technology would enable companies like Town and City Services with modern
cleaning equipment.
2. Advanced technology like digital marketing would enable the company to promote its
cleaning services more aggressively in the market.
The strength and weaknesses:
Strengths:
1. Strong presence in the UK.
2. Financially strong.
2

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
3. Large customer base.
Weaknesses:
1. Middle scale operations.
2. Lacks dynamic decision making capacity.
2. Scoping:
SCOPE The new branch of Town and City Services would provide cleaning
services to firms and residents in Orange in the USA.
OBJECTIVES: 1. Ensuring customer satisfaction.
2. Generation of revenue
3. Business expansion.
CRITICAL
SUCCESS
FACTORS:
The company would adopt the technique of sourcing plants and
machineries from the USA to support its American operations. The
target deadline would be 2 years.
3. Stakeholders- There would be at least eight stakeholders
Stakeholder Internal / Role in process Stake in process
3

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
External
Managemen
t
Internal Makes decisions Profits
Employees Internal Executes decisions Professional growth
Customers External Generates revenue High quality cleaning
services
Investors External Invests in capital Generation of high ROI.
Government External Forms laws Generates taxes
Suppliers External Supplies raw materials Timely credits
Society External Imposes ethical control Socially responsible
operations
Banks External Provides gateway for financial
transactions
Timely payments
4. PESTL Analysis-
Political Economic Technological Legal Environment
1. Stability of
the government
enables the
companies
function
efficiently by
forming strong
The change in
the value of
GBP in
international
currency
exchange
market has
Advanced
technology
would enable
companies like
Town and City
Services with
modern
Laws pertaining
to taxes
Disposal of
wastes after
cleaning
pollutes
environment
4

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
industrial
policies.
strong impacts
on the value of
the goods.
cleaning
equipment.
2. Changes in
laws pertaining
to customs and
taxes
Inflation results
in increase in
the value of
goods which in
turn starts
Advanced
technology like
digital
marketing
would enable
the company to
promote its
cleaning
services more
aggressively in
the market.
Laws pertaining
to IPRs
Strong bilateral
relationships
which
Government of
the United
Kingdom shares
with other
nations
including the
5

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
US enable
companies to
acquire
resources from
foreign markets
and sell goods
in foreign
markets to
generate high
revenue.
SWOT Analysis
Strengths
1. Strong presence in the UK.
2. Financially strong.
3. Large customer base.
Weaknesses
1. Middle scale operations.
2. Lacks dynamic decision making capacity.
Opportunities
1. Advancement of technology
Threats
1. Data thefts
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Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
Research:
Write about any past record of “Orange”
Orange was not considered an American city in the past.
Write relevant information about council laws.
They are relevant.
Write information about local area of “Orange”
Orange is an American city.
Stage 2- Analysing the risks
Create a Risk Assessment Table
7

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
Write five risks and rating can be in the form of critical/Major/Moderate/Minor
and then write the action plan (treatment)
Risk/Priority Risk Rating Action Plan
Revenue NA NA
Capital NA NA
WHS NA NA
HR NA NA
Technology NA NA
Stage 3- Identifying measures to treat the risk
Risk/
Priority
Risk
Rating
Controls Monitorin
g
Timelines Responsibl
e
High Managemen
t
Managemen
t
Management Managemen
t
Management
High Managemen
t
Managemen
t
Management Managemen
t
Management
High Managemen
t
Managemen
t
Management Managemen
t
Management
High Managemen Managemen Management Managemen Management
8

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
t t t
High Managemen
t
Management Managemen
t
Management
2. Action Plan
(a) List all the people who will need to know your risk management processes.
(b) Describe how you will file and store your risk management documentation so that it can
be easily accessed by those who need it.
(c) Describe the process you will use to evaluate your risk management on an ongoing basis.
To be made by the management
3. Monitor and evaluate the risk management plan
Write how you will monitor the plan
To be monitored by the management
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Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
Stage 4- Implementing and Monitoring the risk
treatment Plan
1. Write a report examining the ongoing implementation of the risk management
action plan (about 1.5 pages). Include the following:
 a summary of the initial risks and the plan implemented to manage them
 a summary of all actions taken to date in attempting to manage identified
risks
 a statement identifying continued and/or reduced risks, based on the
information provided in the scenario above
 a statement about the risks you did not identify and the planned actions for
mitigating them or avoiding them
 proposal for amendments to the risk management plan 
10

Your Name
BSBRSK501- Manage Risk
Assessment Task 2
Date: _______________
 an analysis of the effectiveness of the risk management plan, by
comparing the implementation with the outcomes identified in the scenario
above
 an evaluation of your risk management process.
To be implemented by the management
2. Provide the documents of the work you undertook as evidence that you
implemented the plan for managing the identified risks.
Documents would be provided.
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