Risk Management Report: Strategic Plan for Town and Country Services

This report, prepared for the BSBRSK501 Manage Risk unit, focuses on the strategic plan of Town and Country Services to open new offices in Wagga Wagga, Orange, Bathurst, and Mudgee. As a risk manager, the report identifies potential risks, including political, economic, social, and technological factors using PESTLE analysis. It also employs SWOT analysis to assess strengths, weaknesses, opportunities, and threats. The report details risk assessment, risk controls, and monitoring plans. It includes an action plan with responsibilities assigned to various departments. The report also covers an implementation plan, discussing amendments needed and evaluating the effectiveness of the risk management strategies, including the identification of unidentified risks like natural calamities and the need for insurance. The report emphasizes the importance of continuous evaluation and adaptation of the risk management plan.

RISK MANAGEMENT
STUDENT NAME
STUDENT ID
COURSE NAME
COURSE ID
UNIVERSITY NAME
SUBMITTED TO

Contents
Introduction.................................................................................................................................................2
Risk Analysis................................................................................................................................................2
Analysis........................................................................................................................................................4
Risk Management Plan................................................................................................................................6
Report on implementation plan..................................................................................................................8

Introduction
Town and Country service’s strategic plan is the main objective of this report. The company is
planning to open new offices at different locations. The four locations are Waga Waga,Orange,
Bathurst and Mudgee. As a risk manager, I am describing some risk factors for the company in
the strategic plan. In this report, I will also discuss for the analysis of those risks and the ways to
deal with those risks in the company.
Risk Analysis
The Town and Country‘s strategic plan of opening business at new location requires to identify
the risks included in the situation. The risk analysis has different steps to be considered. The
explanation is as follows:
Context: The Town and Country’s strategic plan may affect due to the external factors. The
external factors can affect the organization in achieving the objectives effectively. The political
factors of the four countries where the business wants to operate may affect with their rules and
regulations (clearpointstrategy, 2019). The local government is supportive but it may get affected
due to the changes in government. Economic growth also affects the business by the total
economic development of the country in which the business will operate. The economic growth
is sound for all the four cities where new office will be located. This may be useful for the
company to expand the business. Other factor that will affect the business is social factors. The
population of the four countries is effective as there is regional population. The technology
factors also affect the business by allocating various technologies in the countries. All the four
countries are developed countries having technical equipments. The external factors are
considered as risk for the business environment to run the business effectively.
Scoping: The scope of a business expansion depends upon the goals and objectives of the
business. The goals and objectives are important to run the business in an efficient way (Crouhy,
2014). The goal of the Town and Country is to expand the business by opening in various

countries. The company is working for the architecture business. Thus it includes various risks
relating to technical innovation in the company. It is entering into new markets for the business.
The risk involved here is that is difficult to deal with the introductory stage in any business
(Hubbard D. , 2009). In the introductory stage, there are minimum customers of the business.
The new product is also an important issue in the scope of business expansion and understanding
the risk management. The organizational structure of the new location is also considered as risk
of business.
Town and Country wants to deliver the services to the four countries. The scope is to deliver the
service efficiently to other countries. The deliverables of the company can be considered as
delivering the services. The goal of the company is to achieve high market share. The
deliverables are the way to achieve the goals and objectives of the company. The project
promotes the goals and objectives by delivering the services to other countries.
The critical success factors for the Town and Country can be divided into five points. These can
be considered as risk if it can’t be achieved effectively. The five critical success factors are
finance, people, operations, marketing and strategic focus. These need to be fulfilled by the
Town and Country for achieving the required objectives of the company (iciweb, 2019).
Stakeholder
Stakeholders are considered as an important aspect of the business. The Town and Country’s
stakeholder includes all staff members, internal and external stakeholders, specific team and
technical experts. The relationship of the stakeholder with each other plays important role in the
business context.
Table of stakeholders
Stakeholder Internal / External Role in process Stake in process
Staff Members Internal Key person to continue
operations
Operational persons
Customers External Reason to run the Profit providing

business
Suppliers External Provides raw material
for business
Operational
requirements
Project funding body External Needs for financial
support
Finance provider
Technical experts External Helpful I technical
problems
Technical assistance
The business person needs to communicate all the stakeholders with different and effective
means. They can communicate using mails or letters. Another way to communicate is to held
meeting or conference with the stakeholders. The management can communicate them for the
risk management activities using these methods of communication. The technical experts can
help in the risk of updating business with technology. The project funding body can support with
the funds for meeting various risks in the business.
Analysis
PESTLE Analysis
It includes analysis of different external factors. Town and Country’s PESTLE analysis needs to
measure the risks involved in the process of expansion. The Political factor is in the favor of the
company thus it is not at the risk from this factor (Tetlock, Expert Political Judgment: How Good
Is It? How Can We Know?, 2016). The next factor is Economic factor. It is important to consider
the economic situation of the location where the business will grow. The economic growth is
good in all the four countries. The social and legal factors are also in the favor of company. The
technical experts are required to deal with the risk involved. Environmental situation also affects
the profit of a company (PESTLEanalysis, 2019).

SWOT Analysis
SWOT analysis is considered to measure the strength weakness opportunities and threats of the
company. The risk management requires looking at the SWOT analysis of the company
(businessnewsdaily, 2019).
Internal Factors Strength
Funds are enough
High customers
Weakness
Expert staff is required
More expensive than
traditional methods
External Factors Opportunities
Political factors are in favor
Economic growth is efficient
Threats
Costly space
New business requires
additional expenses
Research
The above information shows various factors of Town and Country. The risk management policy
needs to be made for making control for any risk arises due to the above discussed factors. It
shows that the PESTLE analysis and SWOT analysis is useful for the Town and Country to run
business efficiently. The external factors are also required to follow with the procedure as
described (Kahneman, 2013).
Describe
The risk associated from the above information may be of various types. The risk includes
technical risks environmental risks and risks in following the SWOT and PESTLE analysis. It
shows that it is important to manage the risk for achieving the required goals and objectives of
business (Coleman, 2011).

Risk matrix: The above risk matrix shows the ranking of Town and Country’s different risk
management. It shows that some risks have high potential. For example, the risks that ranks are
that which have low significant to occu (Chatterjee, 2014). Whereas some risks have high
measures to occur. These risks require proper care to be handle effectively.
Submission to manager
This risk assessment report is needed to submitted to manager for informing them regarding the
significant risks. They require the report to make strategies for dealing with the risks to be occur
in the future. This report will help them to know about the types of risks they can face and make
adequate strategies for the risks (Tetlock, Superforecasting: The Art and Science of Prediction,
2015). Risk management is an important task to understand by the management.
Risk Management Plan
Risk Assess Risk
(L, M, H, E)
Controls Monitoring Timelines Responsible
Technical Risk Medium Technical Review the Need to Technical

Experts updating
software’s and
techniques
update after
some periods
Department
Environmental
risk
High Society Need to
understand
the
environmental
factors
It may be
needed over
daily usage
Environmental
department
Political
factors
Low Government Monitor the
policies made
by
government
Need to be
updated to the
policies in the
suitable time
period
managers
Capital risk Extreme Business
owners
Need to meet
all the
expenses
As per the
budget period
Owners
Staff risk High Experienced
staff
Performance
must be
measured
As per the
performance
report
Human
resource
department
Action Plan
The Town and Country needs to take actions for all the risks recorded in the above risk
management plan. The most important department in the action plan is human resource
department. They need to understand the risk effectively to take required actions. The owners of
the business are required to know the risk because they are responsible to make necessary funds
for the business. Human resource department, managers, owners are required to know the
management process of business (Hull, 2015).

The risk management plan needed to be stored with the Town and Country’s department of
documentation. It is helpful when making the future plans for the management. It is an important
factor for the action plan of management (Freund, 2014). It must have documented with the
human resource department. It will help to review the responsibilities of each person in the
management plan (Brown, 2016).
Town and Country’s risk assessment process needs to be evaluated for assessing the
effectiveness of the risk assessment plan. It is required for making the important changes in the
plan if it is not meeting the required outcomes. (managementstudyguide, 2019) The process for
Town and Country’s evaluation of risk management includes consider the problem analysis,
match the outcome of opening business effectively, evaluating the environment and make
possible changes. It needs to review again the changes plan of risk management.
Monitoring Plan
The management plans need to monitor for the Town and Country’s evaluation. The critical
success factors need to be evaluated in the periodical time periods. The management needs to
consider the factors effectively. For the financial factors, the owners are responsible for making
it effectively (Hubbard D. W., 2015). The top management is needed to evaluate the risk for the
management. Town and country needed to review the TCS and rent policies of the countries. It
needs to make the specialist building projects for the company in those four countries.
Report on implementation plan
Every company requires monitoring the plans after some period. The risk assessment plan
needed to review again to find out the requirements. The management needs to check whether it
is working or not. The initial risk that was implemented was technology risks, staff risks,
environmental risk, political risk and capital risk. The plans were made to meet with the
requirements of implementing the risk management. The Town and Country take actions of
hiring experienced staff, dealing with political factors, hiring technical experts etc. to handling
the risks.

The reduced risk of the assignment is the approval by government. The Government of the four
countries is taking time to approving the tasks of company. The government is not making new
policies for the company.
The unidentified risk for the company is risk of natural calamity. The flood was occurred at
Wagga Wagga office which is out of the identified risk. The management needs to make
insurance for the natural calamities.
The management needs to make proposals for the risk management. There is need to add plans
for the natural calamities risks to be cover. It must add plans for making insurance. Other
amendment needed for the risk management plan is to make plan for the staff members. They
must provide with incentives for working in the four new locations of the company.
The implementation of the risk management plan makes at earlier level needs some amendments
in the above sector. The outcome of the implementation plan shows that other factors are
effective but some of the plans are not working effectively. The plan is made for the staff hiring
of experienced nature. But while implementing the plan, it shows that the workers are not
available for the four locations. It creates problem in implementing the operations of the
company. In the government policies, the policies need to change by the government for success
of the company.
The risk management plan needs to evaluate again after making amendments in the risk
management plan. The new amendment plans includes making new ideas for hiring experience
staff by attracting them towards the company. It needs attract the employees by some policies to
attract them. It will work effectively to manage the staff hiring risk for the company. The
proposal will work affectively by making insurance of the four locations for natural calamities. It
will cover the loss if any occur in the process of business. This proposal is for making the
effective business by managing the risk assessment proposal for the company. This will help the
company to achieve the objectives of company.

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