1. Review the provided MacVille simulated business scenario information and documentation provided in the Appendices of this task.
2. Write a report for the CEO (your assessor) that addresses the following:
a. The effectiveness of the MacVille Risk Management Framework in the supporting the principles and processes of risk management, set out in the risk management standard AS/NZS ISO 31000:2009. Outline the purpose and key elements of the standard in your discussion.
b. Identify and describe the scope of risk management required in your role.
c. Identify and describe the critical success factors, goals or objectives for areas included in the scope.
d. Identify relevant internal and external stakeholders, their role in the risk management process and any issues or concerns they have raised. Complete the Table of Stakeholders Template (provided in Appendix 3 of this task) and attach to your report.
e. Complete a PEST analysis and a SWOT analysis to identify risks associated with the scenario. Outline the relevant legislation, regulations and standards (including those at a local level, i.e. Toowoomba Council).
f. Describe the methods of research that you used to complete your PEST and SWOT analysis. For example, how you approached the simulated business information; legislation, regulations, etc.: and any other information or research on risk that applies to the scope of your report.
g. Complete the analysis of risk or the scenario by summarising the scenario and identifying a list of risks to the project.
Note: Ensure your report is written in a style appropriate to your stakeholder audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support you summary.
3. Submit your report as per the specifications on the next page. Be sure to keep a copy for your records.
4. After you have developed your report, write an email that is intended for relevant stakeholders (identified in Step 2). Your email should clearly ask stakeholders for input, include a list of risks you have identified and invite them to assist in identifying any additional risks.
5. Send the email to the CEO (your assessor) for review and request a meeting to discuss identified risks and further risk management processes.
6. Meet with the CEO to:
a. Discuss your findings, particularly your understanding of the critical success factors and goals
b. Explain the MacVille risk management process
c. Discuss how you can communicate with stakeholders about the risk management processes in this scenario and invite them to participate in discussions to further identify risks associate with the scenario
d. Obtain the CEO’s support for ongoing risk management activities
e. Ask the CEO for input on additional risks.
7. In dot-point form, summarise your discussion with the CEO. This should include any recommendations they made to you.
8. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
1. Review the MacVille simulated business scenario information and documentation provided in the Appendices of this task and in Assessment Task 1.
2. Develop a report for the CEO (your assessor) that includes the following:
a. For each risk (i.e. the four identified in the scenario for this task), assess the likelihood of the risk occurring.
b. For each risk, assess the consequences of the risk occurring.
c. Develop a risk matrix to assist in prioritising the treatment of the identified risks, including numerical values (e.g. risk matrix in the Student Workbook)
d. Once you have prioritised the risks, for each, outline at least two suitable options for treatment
e. Include an explanation of the process you used to identify risks and assess likelihood, consequences and priority. Also include an explanation of why the options you have suggested for treating the risk are:
i. Likely to be effective.
ii. Feasible for the organisation.
Note: Ensure your report is written in a style appropriate to your stakeholders audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support your findings and process.
3. Develop an action plan (you may use the Risk Management Action Plan template provided in Appendix 3 of the task) for implementing risk treatment and attach it to your report
4. Communicate your analysis to the Board of Directors by submitting your risk analysis report, along with your risk management plan, to the CEO (your assessor) for internal distribution.
1. Implement your risk management treatment of one key risk, such as decreased brand recognition; in accordance with the requirements provided to you by the CEO provide evidence of your implementation.
2. Submit the required documents for assessment as per the specifications below, Be sure to keep a copy for your records.
1, Review the MacVille simulated business scenario information provided in the Appendix of this task.
2. Develop a report for the CEO (your assessor), which examines the ongoing implementation of the risk management action plan.