Assessment

Task 3
Manage risk
BSBRSK501

BSBRSK501 - Manage risk V2 2020 Page 1

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 Student Declaration
To be filled out and submitted with assessment responses
◻ I declare that this task and any attached document related to the task is all my own work and I have not
cheated or plagiarised the work or colluded with any other student(s)
◻ I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me
according to the process explained to me
◻ I have correctly referenced all resources and reference texts throughout these assessment tasks.
◻ I have read and understood the assessment requirements for this unit
◻ I understand the rights to re-assessment
◻ I understand the right to appeal the decisions made in the assessment

Unit Title
Unit Code

Student name

Student ID
number
Student Date
signature

Task Number

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 ------OFFICE USE ONLY-----
For Trainer and Assessor to complete:

◻ Student requested reasonable adjustment for the assessment

Completed successfully Comments

DNS
Did the student satisfactorily:
The student has satisfactorily completed ☐ ☐ ☐
and submitted the following:

 Screenshot of the filing system

 Addressing of scenarios in the Case
Study as instructed
 List of changes to Risk Plan
 Risk Evaluation Management Report

Demonstrated ability to: ☐ ☐ ☐

 Ensure all documentation is in order
and appropriately stored

This is evidenced by:

Screenshot of the filing system in Task
3.1A

Demonstrated ability to: ☐ ☐ ☐

 Implement and monitor the action plan

This is evidenced by:

 Addressing of scenarios in the Case
Study as instructed in Task 3.1B
 List of changes to Risk Plan in Task
3.1C

Demonstrated ability to: ☐ ☐ ☐

 Evaluate risk management process

This is evidenced by:

Risk Evaluation Management Report in

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 Completed successfully Comments

DNS
Did the student satisfactorily:
Task 3.2

Task Outcome: Satisfactory ☐ Not Yet Satisfactory ☐

Student Name:

Assessor Name:

Assessor Signature:

Date:

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 Table of Content

Student Declaration................................................................................................................................................2
Task 3 – Implement and evaluate the risk management processes...................................6
Task 3.1 Risk management implementation.................................................................................................8
Task 3.2 Risk Management Evaluation..........................................................................................................10
Appendix 1 – Information for Task 3.2........................................................................................11

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RTO Provider: 91153 - CRICOS Code: 02672K
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 Task 3 – Implement and evaluate the risk management
processes

Task summary and instructions

What is this This task builds on Assessment Task 2.

assessment task
about? To complete this task, please refer to Appendix 1 – Scenario at the end
of this assessment document.

This task comprises of product-based assessment methods, and a Case

Study in a simulated work environment.

It has been designed to evaluate your ability to:

 Ensure all documentation is in order and appropriately stored

 Implement and monitor the action plan
 Evaluate risk management process

You are required to address the following:

 Task 3.1 Risk management implementation:
o Set up a filing system
o Address a Case Study
o Determine changes to the Risk Plan
 Task 3.2 Risk Management Evaluation:
o Develop a Risk Management Evaluation Report
What do I need to do  submit the completed assessment tasks, according to instructions,
to complete this task  complete the tasks with sufficient detail and present them in a
satisfactorily? professional manner,
 use your own words and reference sources appropriately,
 meet the word count where required,
 use the scenario provided,
 use the templates provided where required
 for your performance to be deemed satisfactory in this assessment
task you must satisfactorily address all of the assessment criteria,
 if part of this task is not satisfactorily completed you will be asked
to complete further assessment to demonstrate satisfactory
performance.

Specifications You must deliver/participate in:

 NA

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RTO Provider: 91153 - CRICOS Code: 02672K
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 Task summary and instructions

You must submit to GOALS

 Screenshot of the filing system

 Addressing of scenarios in the Case Study as instructed
 List of changes to Risk Plan
 Risk Management Evaluation Report
Resources and • Computer with Internet access
equipment • Access to Microsoft Office suites or similar software
• Learning material
• Scenario for assessment document
• Relevant policies and procedures provided in a separate folder
• Use of the templates included in this assessment document
What will the Your assessor will be looking for demonstrated evidence of your ability
assessor be looking to:
for?
o Implement the risk management processes
o Evaluate the risk management processes
o Identify lessons learned

Re-submission You will be provided feedback on your performance by the Assessor.

opportunities The feedback will indicate if you have satisfactorily addressed the
requirements of each part of this task. If any parts of the task are not
satisfactorily completed, the assessor will explain why, and provide you
written feedback along with guidance on what you must undertake to
demonstrate satisfactory performance. Re-assessment attempt(s) will
be arranged at a later time and date. You have the right to appeal the
outcome of assessment decisions if you feel that you have been dealt
with unfairly or have other appropriate grounds for an appeal. You are
encouraged to consult with the assessor prior to attempting this task if
you do not understand any part of this task or if you have any learning
issues or needs that may hinder you when attempting any part of the
assessment.

Procedures

1. Review the assessment scenario, the business documentation, including policies and
procedures and the templates provided:
o Appendix 1 – Information for Task 3.2 at the end of this document
o Policies and Procedures – provide in Appendix 1 in Task 2

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 Procedures

o Templates:
 1 – Risk management implementation in Task 3.2

2. Provide evidence of record-keeping by completing the following activities:

 Set-up a Risk Management Folder in your drive
 Set-up the following folders:
o Risk Context
o Risk Management
 Save the Risk Context Report in the ‘Risk Context’ folder
 Save the Risk Management Plan in the ‘Risk Management Folder ‘
 Use the following naming convention for the two files:
o Risk Context Report – DDMMYYYY- Version #
o Risk Plan – DDMMYYYY- Version #

3. Address the scenarios provided as instructed

4. Identify changes to the Risk Plan and list them

5. Develop a Risk management Evaluation Report

Complete the following activities:

Task 3.1 Risk management implementation

A) Record Keeping

Provide evidence of record-keeping by completing the following activities:

1. Set-up a Risk Management Folder in your drive
2. Set-up the following folders:
 Risk Context
 Risk Management
3. Save the Risk Context Report in the ‘Risk Context’ folder
4. Save the Risk Management Plan in the ‘Risk Management Folder ‘
5. Use the following naming convention for the two files:
 Risk Context Report – DDMMYYYY- Version #

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  Risk Plan – DDMMYYYY- Version #

Copy and paste a screenshot/s of the folders showing the filing system in the space provided
below:

B) Case Study

Assume that the following scenarios have occurred. Review them and evaluate their impact on risk
management implementation.

Scenario Impact
A The budget for risk What changes do you make to the risk treatment
treatment strategy and the risk treatment actions plan?
implementation was (50-100 words)
cut by 15%.

B One of the risk How do you address the situation? (30-50 words)
owners is not
confident in applying
the risk
management
process.
C A new competitor is What new risks will you consider and treat?
opening a café next
door.
D One of the highest Specify the risk from the list of risks in your Risk
priority risks in your Register:
risk register
happened. Outline how the issue is managed. (50-100 words)
How do you manage
the issue?
E When monitoring What is the impact on risk monitoring?
risks, you are using How do you address the issue?
a very complex risk (40-80 words)
status report that is
difficult for staff to
understand.

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 Scenario Impact
Staff is not recording
risk monitoring
information
correctly.

C) Changes to plans

What changes would you apply to the risk management plan based on the scenarios described in
Task 3.1B?
List the changes in the space provided below (2-4 changes)

Task 3.2 Risk Management Evaluation

Read Appendix 1 – Information for Task 3.2.

Prepare a Risk Management Report (Template 1) addressing the following:

 What risks continued and/or are reduced

 Perform an analysis of the effectiveness of the risk management processes based on the work in
the assessment tasks, and the scenarios provided
 Lessons learned for future reference

Template 1 -Risk Management Evaluation Report

Risk Management
Outcomes

Closed risks
Open risks

(50-100 words)
Analysis

Effectiveness of the risk

management
processes:

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  Risk identification
 Risk assessment
 Risk treatment
 Risk monitoring
 Issue management

(50-100 words)
Lessons Learned

Recommendations for
risk management in the
future
(40-80 words)

Appendix 1 – Information for Task 3.2

Implementation information

It has now been six months since you delivered your risk management action plan.

In accordance with the action plan, an external audit was completed and has been presented to the
MacVille Board. The audit investigated the status of the planned actions on the risks identified.

A summary of the findings

● The financial controller had taken out $5,000 on insurance cover for cash held on the premises
overnight from the launch week as planned.

● The company bank account that was planned to be opened in the first week was actually
opened about four weeks after the café’s launch at the bank two doors down the street. As it is
not MacVille’s regular bank, there are difficulties with getting the same level of service that
MacVille stores receive in Brisbane.

● The teleconferencing system, planned for six months after launch, has not yet been installed,
due in part to the delay in the rollout of the federal government’s National Broadband Network.

● The weekly management meetings are finishing close to 3.00pm as planned but sometimes the
manager has to stay on at the request of the head office team. The manager has not yet been
issued with an excusal letter by the CEO as agreed, and feels that they do not have the
authority to just walk out at 3.00pm.

● The assistant manager training has been shifted to the mornings, allowing the manager to leave
before 1.00 pm as planned.

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 ● The Board of Directors and CEO included a new policy regarding compliance with the
Toowoomba by-law on water conservation as planned, but the specific procedure has not yet
been written. However, it appears that compliance is being achieved.

● The plants have been changed to natives that require minimal water as planned. The installation
of dual-flush toilets were planned for completion six months after settlement, and although the
dual-flush toilets have been ordered and are in stock, they cannot be installed due to the
backlog of work by district plumbers. The five-star rated (WELS) dishwasher was installed by the
supplier within the six-month timetableas planned.

● The application to ‘make good’ by Goldsmith Partners on behalf of MacVille was accepted by the
Toowoomba City Council; however, the grace period to comply with by-law ends in 14 days and
the store is still above the acceptable benchmark for water use.

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RTO Provider: 91153 - CRICOS Code: 02672K
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