NatureCare Products

Risk Register

Risk management
The risk assessment process will be used by the management team to ensure risk control methods are
included in all organisational planning, management of operations and governance.

Definitions
Definitions are based on the Australian and New Zealand Risk Management Standard AS/NZS
4360:2004.
This standard serves as a general framework for risk management. It can be used to a wide range of
actions, decisions, or operations of any public, private, or community company, group, or individual at any
point of an activity, function, project, product, or asset's life cycle.

Risk
The chance of something happening which will have an impact upon objectives. It is measured in terms of
consequence and likelihood.

Likelihood
A qualitative description or synonym for probability or frequency.

Consequence
The outcome of an event or situation, expressed qualitatively or quantitatively, being a loss, injury,
disadvantage or gain. There may be a range of possible outcomes associated with an event.

Risk assessment
The overall process of risk analysis and risk evaluation.

Risk treatment/control methods

Selection and implementation of appropriate options for dealing with risk. Conceptually, treatment options
will involve one or a combination of the following five strategies:
 Avoid the risk
 Reduce the likelihood of occurrence
 Reduce the consequences of occurrence
 Transfer the risk
 Retain/accept the risk
Risk management process
The systematic application of management policies, procedures and practices to the tasks of establishing
the context, identifying, analysing, evaluating, treating, monitoring and communicating risk.
Risk assessment legend

Risk Rating = Likelihood X Severity

Source: http://www.arriscar.com.au/services/risk-assessment/
Risk register
Area Risk Severity Likelihood Risk Rating Treatment/control
methods

Human Lack of effective Moderate Likely Moderate Conduct regular

Resource communication discussion and meeting

Human Poor engagement Significant Likely High Support of management

Resource regarding motivation and
training

Human Low rate of sales Moderate Likely Moderate Conduct sales training
Resource per worker

Human Lack of human Moderate Very likely High Conduct training and
Resource resource with workshop
relevant skills

Human Lack of product Significant Likely High Create a marketing

Resource knowledge campaign that highlight
the brand’s strength

Human Difficult to find Catastroph Rare Moderate Share the new job
Resource appropriate ic opportunities on the web
employees and social media

Location Open three stores Significant Very likely Extreme Open one outlet, keep
in different cities track on the store
within a short time stabilization and then
open other outlets

Create financial analysis

for each store

Strategic Selling point is Moderate Likely Moderate Make an analysis of

health food shops potential shops where the
brand and products can
be introduced

Operational Limited range of Moderate Likely Moderate Develop a new line of

product product range

Risk Register - risk rigister - This document is Risk Register Template. It is part of the - StuDocu
Risk action plan
Each of the risks identified above should be included in the table below and actions shown. The table
should be copied and pasted for each risk.
https://www.urgenthomework.com/sample-homework/naturecare-products-risk-management-plan

Description of risk Lack of effective communication

Summary of recommended Build communication within employees

response and impact
Proposed actions Conduct regular discussion and meetings

Resource requirements Employees

Responsibilities Human Resource Manager and Team Leader

Timing Within the next six months (January – June)

Reporting/Monitoring Everyday

Description of risk Poor engagement

Summary of recommended Improve employee's engagement

response and impact
Proposed actions Conduct regular discussion and team activity

Resource requirements Team and project leader

Responsibilities Human Resource Manager and Team Leader

Timing Within three months (January – March)

Reporting/Monitoring Weekly

Description of risk Low rate of sales per worker

Summary of recommended Increase employees' sales skills by conducting sales training

response and impact
Proposed actions Loss prevention

Resource requirements Expert professionals

Responsibilities Human Resource Manager

Timing Within three months (January – March)

Reporting/Monitoring Sales Manager

Description of risk Lack of human resource with relevant skills

Summary of recommended Recruiting efficient, effective and capable staff

response and impact
Proposed actions Avoidance

Resource requirements Interview and staff screening

Responsibilities Human Resource Manager

Timing January

Reporting/Monitoring Staff Development

Description of risk Lack of product knowledge

Summary of recommended Conduct training and workshop to increase employees’

response and impact product knowledge

Proposed actions Loss prevention

Resource requirements Training, workshop and expert professionals

Responsibilities Human Resource Manager

Timing Within two months (January – February)

Reporting/Monitoring Staff Development

Description of risk Difficult to find appropriate employees

Summary of recommended Share job opportunities with clear requirements on web and
response and impact social media

Proposed actions Avoidance

Resource requirements Web, social media, IT department

Responsibilities Human Resource Manager

Timing January

Reporting/Monitoring Human Resource Manager

Description of risk Open three stores in different cities within a short time

Summary of recommended Open one outlet, keep track on the store stabilization and then
response and impact open other outlets, create financial analysis for each store

Proposed actions Loss prevention

Resource requirements Broad member, finance manager

Responsibilities CEO

Timing Within one year (January – December)

Reporting/Monitoring Broad members

Description of risk Selling point is health food shops

Summary of recommended Make an analysis of potential shops where the brand and
response and impact products can be introduced

Proposed actions Loss reduction

Resource requirements Market analysis, marketing team

Responsibilities Strategic and Marketing Manager

Timing January

Reporting/Monitoring General Manager

Description of risk Limited range of product

Summary of recommended Develop a new line of product range

response and impact
Proposed actions Development

Resource requirements Reference, expert professionals, market research

Responsibilities Operational Manager and Manufacturing Department

Timing Within three months (January – March)

Reporting/Monitoring Marketing Manager