Assessment Task 3 BSBRSK501 Manage Risk Monitoring report Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment date/s Time/s The Assessment Task is due on the date...

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Assessment Task 3 BSBRSK501 Manage Risk Monitoring report Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment date/s Time/s The Assessment Task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective For this assessment you are required to review the implementation of the action plan developed in Assessment Task 2 and prepare a monitoring report. Assessment description Review the implementation of the action plan developed in Assessment Task 2 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. · Plan – a clear summary of the initial risk and the plan implemented to manage it. · Implementation – a summary of all actions taken to date in attempting to manage identified risks. · Outcomes – a clear statement identifying continued and/or reduced risks, with supporting information in tables or graphs where available. · 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. 1. 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). Assessment Specifications You must submit this assessment prior to session 4. Your Trainer will provide you with the date for submission as per Assessment Outcome Record. You must provide: · a completed evaluation report, as outlined above (no more than 500 words) Your assessor will be looking for: · evidence that you analysed and evaluated the case study information against the established action plan. Assessment Outcomes · To complete the requirements of this Task students you must undertake and provide evidence as per Assessment Specification section above. · the assessment evidence submitted must be authentic, i.e is 100% of your own work and not plagiarized (Refer students to handbook for guidance on how to avoid plagiarism). If plagiarism is suspected, your Trainer/Assessor will use the RTO plagiarism software to authenticate the work. Disciplinary action occurs as a result of plagiarism. · If your Assessor does not receive sufficient evidence for this task, you will be provided the opportunity to resubmit. · If after resubmitting your Assessor still has not received sufficient evidence you will be required to re-enrol for the whole unit of competency. Case Study: Implementation information In accordance with the risk management plan, an external audit was completed and presented six months later to the board. The audit investigated the status of the planned actions on the risks identified. A summary of the findings is as follows The financial controller had taken out $5,000 on insurance cover for cash held on the premises overnight from the opening week as planned, but the insurance premium was $2,500 per year and which is considered excessive by the financial controller. The company bank account that was planned to open in the first week was opened about 4 weeks after opening at the bank two shops down the street, but it is not MacVille’s regular bank and there are difficulties with getting the same level of service that the stores receive in Brisbane. The teleconferencing system planned for 6 months after settlement, has not yet been installed due in part to the delay in the Federal Government’s National Broadband Network rollout. 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 upon and feels that they do not have the authority to just walk out at 3:00pm. The assistant management training has been shifted to the mornings allowing the manager to leave before 1:00 pm as planned. The board 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, although 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 6 months after settlement, and although the dual flush toilets have been ordered and in stock, they cannot be installed due to the backlog of work by district plumbers. The 5 star rated (WELS) dishwasher was installed by the supplier within the 6 months planned timetable. 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. The training on daily banking appears to have been successfully completed as planned. An audit of the bank deposit book shows that on only two occasions in the past 6 months that there is not a banking entry for the day’s sales. There has been one internal audit arranged by the store and as planned there should have been a call every two months. The store manager cites the distance that auditors have to travel and their overloaded work with the Brisbane stores as the reason for this infrequency. Although the training on the water saving processes as directed by the policy has been verbally explained and followed, the written procedure has not been completed as the store’s manager claims to be too busy. A water tank had been built in to the courtyard but the plumbing has not yet been connected. There is a weekly water usage monitor in the staff room as planned but the information has not been updated for the past three weeks. 1st edition version: 1 Page 1 of 3 Assessment Task 1 BSBRSK501 Manage Risk Knowledge test Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment date/s Time/s The Assessment Task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective You are required to demonstrate understanding of a wide range of questions to assess your underpinning knowledge of the management of risk. Assessment description For this task you are required to demonstrate an understanding of standards and legislation relevant to risk management, and the management of risk across an organisation in a range of contexts. Procedure You are required to: · Review the written questions provided · Provide written responses to the questions · Submit your responses in the agreed timeframe. Assessment Specifications You must submit this assessment during session 4. You must provide: · written responses to all questions provided. Your assessor will be looking for: · evidence that you understand the required legislative requirements · evidence that you understand risk management practices in the business sector. Assessment Outcomes · To complete the requirements of this Task students you must undertake and provide evidence as per Assessment Specification section above. · the assessment evidence submitted must be authentic, i.e is 100% of your own work and not plagiarized (Refer students to handbook for guidance on how to avoid plagiarism). If plagiarism is suspected, your Trainer/Assessor will use the RTO plagiarism software to authenticate the work. Disciplinary action occurs as a result of plagiarism. · If your Assessor does not receive sufficient evidence for this task, you will be provided the opportunity to resubmit. · If after resubmitting your Assessor still has not received sufficient evidence you will be required to re-enrol for the whole unit of competency. Prompt questions · What are three ways that research can be conducted for risk-related issues? For each way, briefly describe how it may be done. · Fishbone checklists and brainstorming are both tools that can be used in risk management. Describe each of these and when they would best be used. · What are the five stages of risk likelihood? Briefly describe each one. · List and give an example description for each of the five levels of consequence for risk. · What needs should be considered when treating risk? List and describe three treatments that could be considered. · What should be included in a risk action plan? Describe the key inclusions and briefly the type of information included with each inclusion. · How does the AS/NZS ISO 31000:2009 Risk management – principles and guidelines standard assist organisations to reduce risk? · For each of the pieces of legislation listed, describe the intent of each and how it could impact on the process of managing risk. · Privacy law. · WHS regulations. · Contract law. · Name and give an example for three adjustments that can be made in the workplace to assist a person with a disability. · List two types of insurance an organisation could consider purchasing, and for each type, describe the risks covered by the insurance and the benefit to the organisation. 1st edition version: 1 Page 3 of 3
Answered Same DayMay 04, 2021BSBRSK501Training.Gov.Au

Answer To: Assessment Task 3 BSBRSK501 Manage Risk Monitoring report Submission details Candidate’s name Phone...

Ambily answered on May 05 2021
138 Votes
Evaluation of Risk Management Plan
Plan: After a thorough review of the operations and procedures, the id
entified risks were decided to be dealt as given below:
I. To mitigate the banking risk of theft from the premises when the cash is kept overnight, it was decided to deposit the money in the bank daily and to monitor this control by getting the bank statements weekly.
II. The Manager’s travel risk is planned to be reduced by getting the manager finish his work by 3pm so that he doesn’t have to drive during peak hours and it was decided to adjust the meeting times accordingly.
III. The employees were educated about effective usage of water so that the by-law compliance risk can be reduced and checking of water usage bills every month is put into practice.
IV. The risk of employees not using water efficiently is tried to be solved by familiarising the employees with the policies and procedures of the café and educating them about the right usage of water. To put it into practice the employees are supervised and monthly water bills are checked....
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