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Subject Code : BSB51918
Country : Australia
Assignment Task:
BSB51918 - Diploma of Leadership and Management -  Manage risk Strategy-  Risk Management Assignment Help

Task 1- 

1. When seeking to manage risk in the workplace, you will first need to understand the current situation of risk and how these areas are to be addressed throughout the workplace. This will include:
i.    Why is it important to be aware of risks?
ii.    What are the types of business risks? List six (6) risks.
iii.    What does a risk management policy and procedure cover?
iv.    How do you determine the nature and scope of workplace hazards?
v.    Where can you obtain sources of information and data on hazards and risks? List six (6) sources of information.

2.    The specifics and features of WHS policies will vary according to the nature and scope of work that organization does but there are certain issues that should always be covered, regardless of the type of industry. 
i.    WHS policies and procedures should cover (list six):
ii.    A worker under Section 28 of the WHS Act must:
iii.    An employer under Section 19 of the WHS Act is required to provide:
iv.    Explain the role and responsibilities of a PCBU (Persons conducting a business or undertaking)

3.    There is a need to consider the following areas of legislation and industry standards, within working practices, for managing the different kinds of risk which include:
i.    Anti-discrimination 
ii.    Privacy of information
iii.    Environmental legislation

4.    Stakeholders refer to any individual, group or organization that has an interest in an organization’s business. This interest stems from the fact that decisions made within that business will have an impact directly upon them, and each type of stakeholder will have their own perspective on risks and these should be included into the overall risk management. Answer the following:
i.    List six (6) stakeholder risk concerns  
ii.    Discuss why it is essential to meet with stakeholders to discuss about risks. 

5.    Looking at the context of risk will help you to recognize the type of risks and the likelihood of their occurrence. Context is determining the circumstances that are applicable to the situation of risk, i.e. the factors that surround and influence it. Discuss the following:
i.    Political context
ii.    Economic 
iii.    Social
iv.    Legal
v.    Technological

6.    As part of a company’s risk management process, the risk manager would need to evaluate whether the organization has the capabilities and resources and the level of experience required to address plausible business risks/ concerns. Discuss the following points in relation to business risks:
i.    Strengths 
ii.    Weaknesses
iii.    Opportunities 
iv.    Threats 

7.    Discuss briefly the term “critical success factors”

8.    Obtaining support for risk management activities is an essential process. Briefly explain. 

9.    To resolve issues of risk, a strategy of control will be needed. It will depend upon the type of risk involved as to which strategy will work best. Strategies to control risk include:
i.     Stop the risk
ii.    Treat the risk
iii.    Transfer the risk
iv.    Tolerate the risk
v.    List factors that may impact on risk treatments

10.    Treating risks will depend on the chosen hierarchy of control, or controls. Discuss (in relation to the context of risk) what is meant:
i.    Elimination
ii.    Substitution 
iii.    Isolation
iv.    Engineering controls
v.    Administration controls
vi.    Personal protective equipment (PPE)


11.    When determining the actions to treat the risks, you will need to have a thorough risk management plan that details what the risks are, the identified risk treatments, who is responsible for carrying out the treatments and the timeframes applicable to these. Discuss how the following documentation can assist in planning:
i.    Risk action plan
ii.    Risk treatment plan
iii.    Risk register
12.    Documenting the results of risk assessments is a vital means of preventing and minimizing the impact of hazards on individuals and structures in the workplace. Discuss. 
13.    There are many ways that a business could incur risks in the workplace. Discuss how to implement a risk control plan effectively.
14.    Changes can occur as work progresses and your initial risk management strategy or processes may need adjusting over time. Deliberate on the following:
i.    Monitoring risks on a continual basis
ii.    What are the considerations when evaluating implemented risk controls?

Task 2- 

1.    You will assume the role of the risk manager for MacVille Pty Ltd and have been tasked to review the provided MacVille Risk Management Policy and Risk Management Strategy in a simulated meeting activity. You are required to complete a written report for your CEO that addresses the following steps as specified in the meeting agenda.
Demonstration/ observation checklist
MacVille Pty Ltd Risk Management Meeting

2.    Risk management plan proposal
3. Review and describe the critical success factors, goals or objectives for areas included in scope.
4.    Stakeholders – Identify internal and external stakeholders, their supporting role in the process, and any issues or concerns they have
5.    Review political, economic, social and technological context for risks associated with the case’s scenario. 
6.    Review strengths and weaknesses context for risks associated with the case’s scenario.
7.    Risk action plan
8.    Apply the identified risks (from Q 5 to 6) and relate to:

Assessing likelihood of risks occurring

Assess impact or consequence 

Determine relevant parties to assist/ support for risk management activities 

Evaluate and prioritize risks for treatment

9.    Assess the risks (the objective of this step is to separate the minor acceptable risks from the major risks) identified in Q 8, determine the existing controls and analyze the risk in terms of consequence and likelihood in the context of those controls in order to evaluate the range of potential consequences and how likely they are to occur.
10.    Obtain feedback and consultation from company’s stakeholders (your trainer would undertake this role) on the risk management process and approval to support action plan activities 
11.    Attendance sign-off for the Organizational Development Management Meeting
12.    Upon receiving approval of the proposed risk management plan, draft out a memo to all staff within the company to communicate what are the proposed risk management processes that would be taking place immediately. 

 

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  • Posted on : November 28th, 2018

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