Monitor risk and evaluate processes
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.
For this task you are required to review the implementation of the risk management action plan you developed in Assessment Task 2 and prepare a monitoring report.
For the MacVille Pty Ltd simulated business scenario provided, you are required to assume the role of Brisbane store Assistant Manager, Ash, who has just been promoted to be Manager of a new store. Ash has been tasked with conducting a risk management analysis of this new venture.
There are three stages to this project: (1) review, (2) analyse and plan, and (3) monitor. This project is divided into three assessment tasks as follows:
For this task, you are to review the implementation of the risk management action plan you developed in Assessment Task 2 against the simulated business information provided in this task. Then, you will need to prepare a monitoring report evaluating the outcomes of the action plan and risk management process.
1. Review the MacVille simulated business scenario information provided in the Appendix of this task.
2. Develop a report for the CEO (your assessor), which examines the ongoing implementation of the risk management action plan.
a. Ensure you include the following sections in your report:
i. Plan – a clear summary of the initial risk and the plan implemented to manage it.
ii. Implementation – a summary of all actions taken to date in attempting to manage identified risks.
iii. Outcomes – a clear statement identifying continued and/or reduced risks, with supporting information in tables or graphs where available. iv. Evaluation – a clear analysis of the effectiveness of the risk management plan, including risk assessment (e.g. risk matrix), by comparing the implementation with the outcomes.
Note: Ensure your report is written in a style appropriate to your stakeholder audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support your findings and process.
3. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
You must provide:
? a monitoring report.
Your assessor will be looking for:
? reading skills to review, interpret and analyse text-based business information from a range of sources in order to evaluate effectiveness of risk management implementation
? written skills to organise and deliver information to effectively communicate evaluation of activities to stakeholders
? numeracy skills to interpret mathematical data when reviewing and evaluating scenario business information effectiveness of activities
? ability to work independently to analyse scenario information and evaluate effectiveness of activities
? ability to interact with others using appropriate conventions when communicating to, and consulting with, stakeholders
? ability to sequence and schedule activities and manage communication
? ability to analyse relevant information to identify and evaluate effectiveness of activities
? ability to use familiar digital technology to access information, document findings and communicate them to stakeholders.
Adjustment for distance-based learners
? No variation of the task is required.
? A follow-up interview may be required (at the discretion of the assessor).
? Documentation can be submitted electronically or posted in the mail.
Appendix: Scenario – MacVille Pty Ltd simulated business
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 3.00 pm 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 3.00 pm.
? The assistant manager training has been shifted to the mornings, allowing the manager to leave before 1.00 pm as planned.
? 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 timetable as 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.
? The training on daily banking appears to have been successfully completed as planned. An audit of the bank deposit book shows that there is no banking entry for the day’s sales on only two occasions in the past six months.
? 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 assistant manager (James Mansfield) 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.
? All the original staff members are wearing the MacVille uniform. However, these original employees are now responsible for directly supervising new employees. The original staff members are not explaining the uniform requirements to new employees and are not delivering any warnings for uniform non-compliance. As a result, there has been an increase in uniform non-compliance.