Assessment Submission Sheet: Final Result For This Unit

Australian Ideal College
Registered as Australian Ideal College Pty Ltd

RTO No.: 91679 | CRICOS Provider Code: 03053G
Sydney Campus: Level 7 & 8, 75 King Street, Sydney NSW 2000 Australia
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000 Australia
Hobart Campus: GRD Floor, 116 Murray Street, Hobart TAS 7000 Australia
T: +61-2-9262 2968 (Sydney) | +61-8-8123 5780 (Adelaide) | +61-3-6231 2141 (Hobart)
Educating for Excellence E: info@aic.edu.au | W: www.aic.edu.au
Assessment Submission Sheet

Course SIT50416 - Diploma of Hospitality Management
Unit Code BSBRSK501
Unit Name Manage risk

Assessor
Jasmine Liu
Name
Student
Rajina Maharjan
Name
Student ID 20191546
Date Due 06/06/2021

Please read and sign this assessment coversheet and submit it together with your assessment to
your Assessor by the due date.
Student Declaration
• I declare that the work submitted is my own, and has not been copied or plagiarised from any
person or source.
• I have read the Plagiarism Policy and Assessment Appeal and Reassessment Policy in the
Student Handbook and I understand all the rules and guidelines for undertaking assessments.
• I understand that by typing my full name in the student field this is equivalent to a hand-written
signature.
• I give permission for my assessment material to be used for continuous improvement purposes.
Student Date
Rajina 06/06/2021
Signature Submitted
Assessor Use Only
Assessment Items Result
Task 1 Case study
Task 2 Report
Final Result for this unit
Assessor Declaration: I declare that I have

Student Declaration: I declare that I have been
conducted a fair, valid, reliable and flexible
assessed in this unit, and I have been advised of
assessment with this student, and I have provided
my result. I am also aware of my appeal rights.
appropriate feedback
Signature Rajina Signature
Date 06/06/2021
AIC-UP- BSBRSK501 –V1.0 Page 1 of 16

Assessor’s Final Comments

Task 1
Assessment Instructions
For the case study provided with this Assessment Task, you are required to review risk management
processes and determine scope and objectives, taking into account stakeholder input and both
internal and external environmental factors affecting the organisation. With the information gathered,
you are to identify risks and present this to relevant parties for feedback.
Procedure
For the provided case study, you will assume the role of the risk manager/assessor, and you are
required to review the provided Woolworths Risk Management Policy and complete a written report
for your manager (your assessor) that addresses the following steps.
1. Scope – Identify the scope of risk management required in your identified role.
2. Goals – Identify and describe the critical success factors, goals or objectives for areas
included in scope.
3. Stakeholders – Identify internal and external stakeholders, their role in the process, and any
issues or concerns they have. Present this using the table format provided.
4. Analysis – Complete a PEST analysis and a SWOT analysis for risks associated with the
scenario.
5. Research – Review and summarise the research information provided in the case study, as
well as any literature available that is relevant to this scenario.
6. Describe – Complete the analysis of risk for the scenario by summarising the scenario and
associated risks, accompanied by checklists, diagrams or flowcharts that support the
summary.
After you have completed the above steps, you need to meet with your manager and discuss the draft
report you have developed, especially your understanding of the critical success factors and goals
(you should check that your manager agrees with your findings).
As part of your discussions you also need to discuss and identify 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 associated with the scenario.
7. Summarise: In dot-point form, summarise the discussions with your manager.
 This should include any recommendations they made to you.
8. Develop: a draft of the communication your manager suggested you use for consultation with
stakeholders.
 If they suggested a phone call, you should include a draft script of information that you
need to share with stakeholders.
 Whatever the form of communication, it must clearly ask stakeholders for input, and
invite them to assist in the identification of risk for this scenario.
When submitting the report and accompanying documents, you need to ensure that:
• your report is titled ‘Risk review’
• your report is in order, with attachments on the back of your report as follows
• it includes notes from meeting with your manager
• it includes draft communication
• your report is submitted as required by your organisation (your training provider).

To be deemed competent you will need to successfully demonstrate the following:

You must provide:
• a completed report as outlined above in Steps 1–6, using the headings provided for each step
• summary notes from your meeting with your manager.
o Summarise in dot-point form the discussions with your manager. This should include
any recommendations they made to you.
• A draft communication to be used with stakeholders.
o Develop a draft of the communication your manager suggested you use for
consultation with stakeholders.
o i.e. if they suggested a phone call, you should include a draft script of information that
you need to share with stakeholders.
o Whatever the form of communication, it must clearly ask stakeholders for input, and
invite them to assist in the identification of risk for this scenario.
Case Study: Table of stakeholders (format)
Stakeholder Internal/external Role in process Stake in process

Risk Review Report

1. Introduction:
MacVille Pty Ltd has developed a chain of cafes in the Central Business District (CBD) of
Brisbane, Queensland and the CBD of Sydney, NSW. The board of directors have made the
decision to expand the operations in Queensland with the purchase and re-branding of the
existing Hurley’s café in Toowomba on the darling downs 130km west of Brisbane.
2. Scope:
The areas of the scope of the risk management are:
• Cash Management
• Policies and procedure in document form and easily accessible by all employees
• Ensuring compliance
• Assessing the impact of external factors
• Risk in relation to functions human resources management, financial operations,
OHS, supply chain, local governance and compliance issues.
3. Goals:
Setting goals is one of the most essential part for the risk management plan. Goals must be
aligned with the policies of the company. Some of the goals for MacVille Pty Ltd are:
• Expanding customer base by providing quality customer service
• Increase the number of stores across Australia
• To encourage the new manager to give ongoing support for risk management
• To ensure a smooth transition to the MacVille systems
• To manage the risks involved with the operations of store
4. Stakeholders:
Stakeholder Internal/external Role in process Stake in process
MacVille Board of directors Internal Executives: Management of the

Responsible for critical and
running the monetary risks
business associated with the
take-over
Customers External Clients: Purchase of goods
Responsible for the and services from
company’s Toowomba store
existence
Vendors/Suppliers External Responsible for the More business with
quality of food the company
products
Regulatory bodies External Legal Advisor: Actions of business
Responsible for should not be
compliance against law of land
Store Manager Internal Responsible for Increase in profit
driving operations and business
profitably

5. Analysis:
Risk analysis is the stage where the level of the risk and its nature are assessed. We have 2
different types of risk analysis method:
• PEST Analysis: A PEST Analysis is an effective tool for investigating and external
environmental factors. PEST stands for Political, Economic, Social and Technological.
o Political: Political factors could impact the organisation such as government
stability, tax policy, changes in the political environment, regulation and de-
regulation trends.
o Economical: Economical factors that impact the organisations are labour cost,
dealing with banks and borrowing from the banks, etc.
o Social: Social attitudes, behaviours and trends that impact on the organization
such as population growth rate, social mobility, etc.
o Technological: Technology that can affect the products and services such as
new equipment updates, new system to record wages and superannuation,
etc.
• SWOT matrix: A SWOT analysis can be carried out for the products or services for
the organization. SWOT stands for Strengths, Weaknesses, Opportunities and
Threats.
o Strengths: Strengths of the organization depends on good location of the
business, increasing population of the area, competitors near the
organization, etc.
o Weaknesses: Weakness of the organization depends on the time of food
delivery, no written policy and procedures, improper use of water, no proper
security systems, etc.
o Opportunities: Opportunities are the chances for something positive to happen
for the organization. It is depend on easy access to travel, central location of
the store, etc.
o Threats: Threats include that can negatively affect the business from the
outside. It depends on introduction of legislation that backs up the local by-law
concerning efficient water usage, representatives of a large international chain
of coffee shops making enquiries around the town about opening store in the
Toowoomba CBD.
6. Research:
• After the research, it ahs been found that the two hour delivery would make fresh
pastry deliveries from the company’s central bakery plant impractical.
• Regarding the population and age research, it has been found that the café is
attracting a large percentage of retirees because of its easy access to the buses and
the stores central location.
• There were opportunities for opening more cafes in the surrounding shopping centre.
• After the research of upcoming laws and policies revealed that the current law was
due for implementation on the 1st of next month allowing cafes to expand their
footpath.
7. Describe:
The process of identification can be aided by various tools and techniques which should be
selected based on the purpose and context of the risk management activities being
undertaken. Some of the risks for the organization are:
• Human resources management risk:
o No written policy and procedures manual and limited staff training-could lead
to errors and inappropriate actions.
o Authorisation system not clearly defined-could lead to fraud.
o Lack of sales promotion techniques-impacts of the stores financial viability.
• Financial operation risk:

o No separation of duties-could lead to fraud.

o The banking was not done every day and was kept on the premises overnight
without a safe-assets not protected could lead to thief.
o Not all takings from the cash register by the family staff members were
recorded-unacceptable behaviour in a company store and could lead to
misappropriation of funds.
• WHS risk:
o Manager’s two hour drive to and from weekly manager’s meeting-could lead
to physical injury.
o Unstable and broken chairs-compliance breach and customer suing,
reputation loss.
o No established process for dealing with injuries happening at work-staff
turnover, unions suing, reputation loss.
• Supply chain risk:
o Impractical to deliver fresh pastry from the company’s central bakery plant in
timely manner-brand loss, quality service loss.
o Supply of company branded supplies-brand loss.
• Local governance and compliance risk over:
o Water use-company could be fined, reputation loss.
o Incomplete employment records-unions could sue, government penalties,
reputation loss.
o Confidentially of records not guaranteed-privacy law breach.
Summary Notes
After visiting the new shop in Toowoomba, a written report was generated using MacVille's risk
management procedures. The environment, characteristics, and stakeholders, as well as their aims
and aims, were described and specified in this report, as well as the scope of the specific risk
management approach. The following things were discussed with the manger:
o Discussion on the issues raised by James Mansfield and Ron Langford.
o Discussion on the report on previous NSW expansion.
o Discussion on privacy and industrial relation law.
o Discussion on the lack of professional business culture in the family runs business.
o Discussion about the methods to communicate with stakeholders.
o Discussion on the lack of a professional business culture in the family run business.
Draft Communication
From: The Manager
To: FARM Committee
Sub: New Toowoomba Store
Dear Farm Committee,
I’ve been assigned with the task of managing the risks associated with the Toowoomba store’s
operational takeover. I did research in accordance with MacVille's risk assessment rules and wrote
a report on the hazards and opportunities that a corporate takeover may present to the company. I
want to present the highlights of the research to the committee, and I want to recommendations and
comments from the committee. Following are the some of the findings of the research:
• Operational/Organisational
o Legal and regulatory compliance: There were no written policy and procedures
manual, no adequate cash handling regulations, the possibility of break-ins

owing to the lack of sufficient security system, no OHS policy and the improper
usage of water was against the state law.
o Logistics and product quality: Fresh pastry deliveries from the company's
central bakery factory would be impossible due to the two-hour delivery time.
The pastries would arrive after the morning rush. These are the important part
of the MacVille but there are also some concern about getting company’s
branded supplies as fast as possible.
o Infrastructure, plant and equipment: Parts of the fit-out were outdated and
unappealing, with some chairs being unstable and broken, and some faded
carpet being merely glued up with gaffer tape.
o Customer interaction: Unskilled staff, not properly trained about the customer
interaction skills.
• Financial
o Accountability: Cash is not handled properly, too much cash is kept at the
premises, no proper policy of banking and financial records not protected with
password.
o Fraud or theft: No proper cash handling rules and regulations, chances for
break-ins due to non-existence of proper security system.
o Loss of income, funding/finance
• Governance
o Since the company is a family run business, work ethics and professionalism
has been a big issue.
• Project Management
o Attending the weekly meeting would be difficult due to the long drive from
Toowoomba to Brisbane, specially when meetings last for late evenings. In
addition, during the next 6 months, there is a manager training sessions to be
attended with a few other assistant managers.
These were the highlights from the research that I wanted to bring forward to the committee and
inputs regarding how the committee wants to address these issues are sought.
Regards,
Manager
Toowomba Store

Task 2
PART A
Using the information gathered in Assessment Task 1 and the case study provided, examine the
likelihood and consequences of identified risks, prioritise the risks and determine options for treatment
of each risk. Using this information you are required to develop an action plan for implementing risk
treatment, document the plan as required, and communicate the risk management plan to relevant
parties.
Procedure
For the case study information provided in this assessment and from Assessment Task 1, you need to
develop a report for your manager (assessor) with the headings as described below.
1. Likelihood – For each risk, assess the likelihood of the risk occurring.
2. Consequence – For each risk, assess the consequence of the risk occurring.
3. Priorities – Use a risk calculation table to assist in prioritising the risks.
4. Options – For each prioritised risk, outline at least two suitable options for treating the risk.
After you have completed the above steps, you need to:
5. develop a risk management plan by completing the table included in this task and attaching it
to your report
6. communicate the plan to your organisation by submitting your report and the risk management
plan to your manager (your assessor) for internal distribution.
When submitting the report and plan, you need to ensure that:
a. your report is titled ‘Risk analysis and management plan’
b. your report is in order, with the Risk management table attached to the back of your
report
c. your report is submitted as required by your organisation (your training provider).

You must provide:
• a completed risk analysis report as outlined above
• a completed risk management table, in the required format.
PART B
Review the implementation of the action plan developed in Part A against the case study provided.
Then prepare a monitoring report evaluating the risk management process.
Procedure
Review the provided case study information in order to develop a report examining the ongoing
implementation of a risk management action plan. Use the following headings.
1. Plan – a clear summary of the initial risk and the plan implemented to manage it.
2. Implementation – a summary of all actions taken to date in attempting to manage identified
risks.
3. Outcomes – a clear statement identifying continued and/or reduced risks, with supporting
information in tables or graphs where available.

4. Evaluation – a clear analysis of the effectiveness of the risk management plan, by comparing
the implementation with the outcomes.
After you have completed the above steps, you need to communicate your evaluation of the risk
management plan to your organisation by submitting your report to your manager (your assessor) for
internal distribution.
When submitting the report and plan, you need to ensure that:
• your report is to be titled ‘Evaluation of risk management plan’
• your report is submitted as required by your organisation (your training provider).

You must provide:
• a completed evaluation report, as outlined above.
AIC-UP- BSBRSK501 –V1.0 Page 10 of

16
Part A
Risk Analysis and Management plan report
1. Likelihood:
Once risks are identified, the next step is to determine the likelihood that the potential
vulnerability can be exploited. According to the Case study, there are following risks:
o Banking risk: There is a possible risk of theft of cash left on premises since the
banking at the Café was not done every day and often $4000 was stored on
the premises overnight in the cash register.
o Manager’s Travel Risk: Because of the steep narrow climb up the range with
trucks obstructing the path which is rather tough in daytime hours, it is unlikely
risk that the manager would be involved in an accident despite being a capable
driver.
o By-law Compliance Risk: It is likely risk that is the employees or the manager
use more water, they will be fined for excessive water use, resulting in a
violation of the current by-law.
2. Consequences:
Failing to address risk can lead to consequences that span the spectrum from mere
inconvenience to grave danger. According to the Case study, there are following risks:
o Banking risk: There is a possibility for theft of cash left on premises and it is
also dangerous to the employees in the Café, so it is a minor risk of not banking
money every day.
o Manager’s travel risk: There is a possibility for the manager to have an accident
due to the long drive and steep narrow climb up the range. If there is any
accident occurs, the company has to ensure the substitute of the manager
which will slow the café’s business which is a major risk.
o By-law compliance risk: If the company didn’t use the water effectively, they
will end up paying the fines up to $50,000 according to current law and would
be a loss for the company and the reputation as well which is a major risk.
3. Priorities:
After determining both likelihood and consequences of the risk, we need to look for the
priorities. The most effective method of risk analysis is to generate a risk matrix.
o Banking risk: It is an extreme risk to keep cash of $4,000 on the premises as
there is possibility for theft and dangerous to employees.
o Manager’s travel risk: It is a high risk since the manager has to drive a long
way and substitute the manger if there is an accident of the manager.

16
o By-law compliance risk: It is a medium risk if the company pays the fines up to
$50,000 for not using water effectively.
4. Options:
The options for treating the risk which is likely to be effective and feasible for the organization
are action plan early and internal control procedures.
o Banking risk: To prevent the theft of cash left on the premises, the company
need to install the security cameras or safe and keeping no cash on the
premises.
o Manager’s travel risk: To minimise the travel risk of the manager, the
company should provide the insurance, organise tele conferencing or video
meetings and allow overnight stay.
o By-law compliance risk: To minimise the by-law compliance risk, the
company should provide training for staff to follow the procedures to use the
water effectively.
5. Develop a risk management plan
Asses
s Risk Timeline Responsibl
Risk Controls Monitoring
(L, M, s e
H, E)
Banking Moderat o Open the o Evidence/acco Within 2 o Financi

risk: theft e bank unt settlement weeks al
of cash account o Store controll
left on with he management er
premises closest supervision o Store
bank o Video manag
o Purchase Recording er
insurance o Auditor
on ‘cash
on
premises’
o Install
security
cameras
and safes
o CEO self-
Manager’ High o Arranging monitoring 3 months o CEO
s travel video o On site training o Store
risk conferenci materials Manag
ng for o Meeting er
meeting transcripts o Board
o Finish of
meeting as director

16
early as s
we can
o Allow
overnight
stay
By-law Moderat o Quicker o External audit 6 months o CEO

complianc e complianc o Engineering o WHS
e risk e with laws control manag
o Faster o Standardizatio er
incorporati n awards o Legal
on of the advisor
WHS s
system
o New policy
and
procedure
providing
guidelines
and
training
Part B
Evaluation of risk management plan
1. Plan
Risk Actions
Banking risk: Theft of cash left on o Insurance on ‘cash on premises’
premises o Open an account with closest bank
o Install security cameras
Manager’s travel risk: Physical o Management meetings to finish as early as
injury we can
o Arrange video conferencing
o Management training shift to morning half
day sessions
By-law compliance risk: o Apply for time to ’make good ’
reputation/brand loss and fines o Policy and procedures to change work
practices
o Install water saving devices such as water
tank, dual flush toilet systems, etc.
2. Implementation

16
Risk Implementation Actions

Banking risk: Theft of cash left on o The financial controller had taken out
premises $5,000 the insurance cover on cash held on
premises overnight from the opening week
as planned.
o The company bank account was opened
about 4 weeks opening at the bank two
shops down the street.
o The training on daily banking has been
successfully completed.
Manager’s travel risk: Physical o The weekly management meetings are
injury finishing early.
o The training has been shifted to morning
allowing managers to leave early.
By-law compliance risk: o An external audit has been completed and
reputation/brand loss and fines presented to the board.
o A water tank had been built in to the
courtyard.
o The application to make-good by Goldsmith
Partners on behalf of MacVille was
accepted by the Toowoomba City Council.
3. Outcomes
Risk Outcomes after evaluation
Banking risk: Theft of cash left on o Now low due to significant consequences
premises and ‘unlikely’ likelihood because cash rarely
kept on the premises.
Manager’s travel risk: Physical o Reduced to rare with the change in time
injury travelled.
By-law compliance risk: o Now moderate due to unlikely likelihood
reputation/brand loss and fines with the installed water saving devices and
processes.
4. Evaluation
Risk Effectiveness of the risk management plan

16
Banking risk: Theft of cash left on o Could be made more effective by 100%
premises compliance with the daily banking directive
and removal of expensive insurance on
overnight cash on premises.
Manager’s travel risk: Physical o Organising teleconferencing would reduce
injury the risk to nil and CEO permits the manager
to leave early.
By-law compliance risk: o Could be more effective by installing tank
reputation/brand loss and fines and dual-flush toilets in 14 days and written
procedures.

16
RTO No.: 91679 CRICOS Provider Code: 03053G ABN: 15 126 592 756
Sydney Campus: Level 7 & 8, 75 King St, Sydney NSW 2000
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000
Hobart Campus: Ground Floor, 116 Murray St, Hobart TAS 7000
Tel: +61-2-9262 2968 Fax: +61-2-9262 2938
Educating for Excellence Email: info@aic.edu.au Website: www.aic.edu.au
Risk management plan
Assess Risk
Risk Controls Monitoring Timelines Responsible
(L, M, H, E)

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Australian Ideal College

Registered as Australian Ideal College Pty Ltd

Assessment Submission Sheet

Unit Code BSBRSK501

Unit Name Manage risk

Date Due 06/06/2021

Assessor Use Only

Assessment Items Result

Task 1 Case study

Final Result for this unit

Assessor Declaration: I declare that I have

AIC-UP- BSBRSK501 –V1.0 Page 1 of 16

Assessor’s Final Comments

AIC-UP- BSBRSK501 –V1.0 Page 2 of 16

AIC-UP- BSBRSK501 –V1.0 Page 3 of 16

To be deemed competent you will need to successfully demonstrate the following:

Case Study: Table of stakeholders (format)

Stakeholder Internal/external Role in process Stake in process

AIC-UP- BSBRSK501 –V1.0 Page 4 of 16

Risk Review Report

Stakeholder Internal/external Role in process Stake in process

MacVille Board of directors Internal Executives: Management of the

AIC-UP- BSBRSK501 –V1.0 Page 5 of 16

AIC-UP- BSBRSK501 –V1.0 Page 6 of 16

o No separation of duties-could lead to fraud.

AIC-UP- BSBRSK501 –V1.0 Page 7 of 16

AIC-UP- BSBRSK501 –V1.0 Page 8 of 16

To be deemed competent you will need to successfully demonstrate the following:

AIC-UP- BSBRSK501 –V1.0 Page 9 of 16

To be deemed competent you will need to successfully demonstrate the following:

AIC-UP- BSBRSK501 –V1.0 Page 10 of

AIC-UP- BSBRSK501 –V1.0 Page 11 of

Banking Moderat o Open the o Evidence/acco Within 2 o Financi

AIC-UP- BSBRSK501 –V1.0 Page 12 of

By-law Moderat o Quicker o External audit 6 months o CEO

AIC-UP- BSBRSK501 –V1.0 Page 13 of

Risk Implementation Actions

AIC-UP- BSBRSK501 –V1.0 Page 14 of

AIC-UP- BSBRSK501 –V1.0 Page 15 of

Risk management plan

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