BSBRSK501: Risk Management – Report Writing Assessment Answer

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Code: BSBRSK501
Risk Management Report Writing Assessment Answer
Assignment Task: BSBRSK501
Task 1:
Prepare a Risk Management report with the following content:

Summarise the key risks facing the organization and list them under the following scope headings: political, economic, social, legal, technological and policy. For each, explain why it is a risk.

Listotherpossiblesourcesofdatathatmayapplytothescopeofthisproject;for example, market research, information from other businesses.

List examples of legislation, regulations, standards and codes that are relevant to the current situation.

Review and outline the organization’s current policies and procedures that relate to risk management in accordance with current risk management legislation and standards, detailthestrengthsandweaknessesoftheexistingarrangementstoadequatelyaddress the identified risks and make any recommendations for changes.

Identify links between the current risks and the organization’s stated ethos.

List the objectives and critical success factors for risk management atBizOps.

List the key stakeholders who should be involved in the risk management process and create a stakeholder communication plan that includes who should be consulted, on what aspect they should be consulted, the method of consultation. Explain how to invite participation and explain the risk management processes.

Task 2:
Using the content of the report, prepare a presentation for BizOps’s senior managers. The CEO has stipulated that she wants the presentation to cover how the risk management process will be implemented, monitored and evaluated.
Use slide presentation software to develop the presentation and include the following:

A list of options commonly used in risk treatment processes

The most appropriate options for treating each of the identified risks

A proposed action plan to treat the identified risks, including:

what actions are required

who is taking responsibility

timelines

the monitoring process

a proposed folder structure for storing information relevant to the risk management process

key factors in implementing, monitoring and evaluating the risk treatment action plan.

Task 3:
Prepare a report for BizOps’s senior managers on how the action plan will be implemented, monitored and evaluated. The report should use the following headings:

Implementation strategy

Monitoring strategy

Evaluation strategy

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