Recent Question/Assignment

Business, Accounting and Finance
BSBRSK501 Manage risk
Student Assessment
Student Name:
Student Number:
Assessment is all about collecting evidence and making decisions as to whether or not a student has achieved competency. Students are required to answer all the questions. Evidence is information gathered that provides proof of competency. While evidence must be sufficient, trainers and assessors must focus on the quality of evidence rather than the quantity of evidence.
1. Organisational processes, procedures and requirements for undertaking risk management assessments and managing risk should be periodically reviewed. Why?
2. How do you determine the scope for risk management process?
3. Why is it necessary to consider stakeholders’ issues throughout the risk management process design?
4. Comment on the influences each of these factors have on the organisation - political, economic, social, legal, technological and policy context?
5. Conduct a SWOT analysis for the current risk management practices of an organisation with which you are familiar. Complete the template below. If you do not know an organisation, then you are able to make up an example if you demonstrate an understanding of what is required.
SWOT analysis
Name of organisation:
Brief description of core function of the organisation:
Strengths Weaknesses
Opportunities Threats
6. What do you need to consider when you document critical success factors, goals or objectives for area included in scope?
7. Why do you need to obtain support for risk management activities?
8. Communicate with relevant parties about the risk management process and invite participation?
9. As a leader, you will need to invite relevant parties to assist in the identification of risks. Name a) at least 5 areas of the business that will have potential risks, b) what those risks could be and c) identify at least 3 types of people / roles that could be involved.
10. What are some of the dangers of attempting to manage risks without properly researching them? Be sure to include a range of research methods in your response.
11. What tools and techniques would you use to generate a list of risks that apply to the scope, in consultation with relevant parties?
12. Explain how you would assess the likelihood of risks occurring and complete the table below using one example in each category which you can find at your workplace or home.
Rating Descriptor Equates to qualitative value
1.0 Extremely likely (expected) A
0.75 Likely (probable) B
0.50 Possible C
0.25 Unlikely (unexpected) D
0.1 Rare E
13. How do you assess the impact or consequence if risks occur? Please ensure you include the consequence scale in your response with a description of each of the 5 categories e.g insignificant, minor etc.
14. What do you need to consider when you evaluate and prioritise risks for treatment? Please ensure you include a) how you use a risk matrix and b) a description of the typical risk categories you use when evaluating the likelihood and level of impact for the risks.
15. As a manager you need to determine and select the most appropriate options for treating risks. There are 5 options, describe what they are and provide an example.
16. What do you need to include when developing a risk treatment action plan for implementation? Refer to this link to see the many examples of a Risk Treatment Action Plan.
17. What do you need to consider when communicating risk management processes to relevant parties?
18. How do you ensure all the documentation is in order and appropriately stored? Please ensure you explain a) why documents need to be kept, b) why they need to be retained or destroyed and c) what are some storage options.
19. What are the 5 key steps when implementing and monitoring the action plan? Explain briefly each of these steps.
20. When evaluating the risk management process, there are 3 different approaches to evaluation and 6 different data collection methods. Can you briefly describe each of these?
Assessment Outcome Written Questions
Question Correct (?)
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Assessed by ______________________________________________
Assessor Signature_________________________ Date _________

Project 1 – Project
You have been asked to oversee the management of risk for your team or department at work, where an expansion process is currently being considered. If you do not have an example you can draw upon, you are able to make up an example as long as you demonstrate your understanding on what is requested.
You will need to identify the key stakeholders with whom you will communicate and conduct the stakeholder analysis. You have been supplied a template to answer part of the project. For this exercise, please complete the template using 5 stakeholder groups and describe:
• their interests
• the primary and secondary communication methods that you will use with them
• the key messages appropriate to them
• the contributions that you can expect from them
Stakeholder group Interests Communication methods Key messages Expected contributions
Once you have completed the template, you will have addressed the stakeholder communication and elements about the stakeholders e.g interests, key messages etc. Now you have this information, we require you to complete the remainder of the stakeholder analysis, in essay format. Be sure to describe:
• political, economic, social, legal, technological and policy context
• current arrangements
• the risks that may apply to scope
Assessor needs to use the below risk management stakeholder checklist to assess the project.
Items Yes/ No Comments
Evidence provided on the stakeholder analysis communication on the following:
their interests
the primary and secondary communication methods that you will use with them
the key messages appropriate to them
the contributions that you can expect from them
Evidence provided on completing the remainder of the stakeholder analysis as follows:
political, economic, social, legal, technological and policy context
current arrangements
the risks that may apply to scope
Assessed by ______________________________________________
Assessor Signature_________________________ Date _________

Project 2 – Project
Once risks are identified, they are evaluated on a two (2) dimensional matrix using a qualitative rating of the likelihood of the event occurring and the scale of the possible consequences. When risks have been identified, they are analysed by combining the consequences and likelihood to produce a level of risk. This form of evaluation provides a good graphical representation of how serious the risk is or where it lies within a group of risks. The risk analysis provides information critical to determining what risks need to be treated and what risks are accepted.
Using the tables provided below, develop and implement an action plan to treat 3 risks in your workplace or home, describe how you monitor and evaluate the action plan with stakeholders and the risk management process, and finally how do you maintain the associated documentation? The requirement is a report of at least 200 words. If you do not have a real work place example, then it is fine to make it up as long as your example demonstrates your understanding of the requirement.
Table 1 Consequence Matrix

Table 2 Likelihood Matrix
Table 3 Level of Risk Matrix
Assessor needs to use the below risk treatment action plan checklist to assess the project.
Items Yes/ No Comments
Evidence provided on the risk treatment action plan tasks on the following:
how to use and interpret the tables provided
develop and implement an action plan to treat 3 risks in your workplace or home
monitor and evaluate the action plan with stakeholders and the risk management process
maintaining the associated documentation
Assessed by ______________________________________________
Assessor Signature_________________________ Date _________

Business, Accounting and Finance
BSBRSK501 Manage risk
Assessment Outcome Record
In order to be deemed competent in this unit, the candidate must answer all written questions correctly and satisfactorily complete all practical tasks. In order to complete all practical tasks, all Observation Criteria need to be satisfied, i.e. demonstrated and marked as an 'S'. The task summary outcome must be noted as satisfactory to note the demonstration of a satisfactory outcome for each practical task requirement.
Student Name
• Not Yet Competent
• Competent
Comments
Assessor (Name)
Assessor Signature
Date
BSBPMG522 Undertake project work
Student Assessment
Student Name:
Student Number:
Written Questions and Answers
Assessment is all about collecting evidence and making decisions as to whether or not a student has achieved competency. Students are required to answer all the questions. Evidence is information gathered that provides proof of competency. While evidence must be sufficient, trainers and assessors must focus on the quality of evidence rather than the quantity of evidence.
1. During the planning phase in a project, what do you need to consider in accessing the project scope and other relevant documentation? Please explain scope, documentation required, developing a project brief, contracts especially MOU, terms of reference and relevant legislation.
2. Explain who are the key project stakeholders and what their responsibilities are? We require your explanation to identify at least 5 different stakeholders and determine what their responsibilities are.
3. How do you seek clarification from delegating authority of issues related to project and project parameters?

4. Typically how would you identify limits of own responsibility and reporting requirements? Make sure you include consultation and the legislation in your explanation.
5. What do you need to consider when clarifying the relationship of the project to other projects and to the organisation's objectives.
6. As a Project Manager, you need to determine and access available resources to undertake the project. Explain and identify what are some of the considerations you will need to think through.
7. How do you develop the project plan in line with the project parameters? Ensure you cover in your explanation parameters such as inclusions, cost break down, timelines, assigning of roles and responsibilities including WBS and RAM as a minimum.

8. What appropriate project management tools do you access in the role of Project Manager?
9. How do you formulate a risk management plan for a project, and ensure you include the Work Health and Safety (WHS) aspects e.g. Levels of Risk, Rank of Consequences, a Risk Matrix and the 5 steps of Risk Control.
10. What are the key elements of developing and approving a project budget? Please include a discussion on at least 3 indirect costs, 3 direct costs and approval process in a project in your explanation.
11. Why is it important to consult with team members and take their views into account in planning the project?

12. When finalising the project plan, you need to gain necessary approvals to commence the project according to documented plan. Please elaborate on this statement.
13. What actions do you take to ensure project team members are clear about their responsibilities? Elaborate on how this meets the project requirements including communication tools, job descriptions and instructions and their commitment to the project.
14. Explain how you provide support for project team members, especially with regard to specific needs, to ensure that the quality of the expected outcomes of the project and documented time lines are met?
15. What recordkeeping systems needs to be established and maintained throughout the project?

16. How do you implement and monitor plans for managing project finances, resources and quality?
17. What do you need to consider when you complete and forward project reports as required to stakeholders?
18. Elaborate how to undertake risk management as required to ensure project outcomes are met. Explain some risk management strategies and what to do when plans are not enough.
19. Can you elaborate on how you can achieve project deliverables? In your explanation ensure you offer details on time, budget, conferences, new products and job creation.

20. What do you need to consider when completing the financial recordkeeping associated with project and check for accuracy?
21. Ensure transition of staff involved in project to new roles or reassignment to previous roles. Show your understanding by explaining the steps to concluding project involvement for staff members.
22. What is required to complete project documentation and obtain necessary sign-offs for concluding project?
23. What is involved in reviewing project outcomes and processes against the project scope and plan?

24. What methods could you gain team members feedback and how should you involve in the project review?
25. What sort of things should you document as lessons learned from the project and report within the organisation? Make sure you expand on how you enhanced your learning, how you documented the learning, and how you showed your recognition of their efforts.
Assessment Outcome Written Questions
Question Correct (?)
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Assessed by ______________________________________________
Assessor Signature_________________________ Date _________

Project Report 1
Once the business case has been approved, you need to make a project plan showing each task. Assume you are a project manager to lead your team to acquire an additional delivery van for the company. Please find the details below. The current month is January.
Activity
(What is to be done?) Objective
(Why will we do it?) Resources
(Where will it be done?) Procedures
(How will it be done?) Responsible person
(Who will do it?) When? Budget
Acquire additional resources – delivery van. To provide a delivery service and provide brand recognition Purchase a new van for each outlet and detail it with the marketing logo. Contact suppliers obtain quotes and purchase the required delivery van.
Contact sign writers to have marketing decals attached to the vans. Head office marketing manager 31 July $50,000 per outlet
Define the parameters of the project including:
• Project scope
• Project stakeholders, including own responsibilities
• Relationship of project to organisational objectives and other projects
• Reporting requirements
• Resources requirements
Assessor needs to use the below checklist to assess the Project Report 1.
Items Yes/ No Comments
Report on activities undertaken to define the parameters of the project including:
• Project scope
• Project stakeholders, including own responsibilities
• Relationship of project to organisational objectives and other projects
• Reporting requirements
• Resources requirements
Assessed by ______________________________________________
Assessor Signature_________________________ Date _________

Project 2
Having finished Project 1, use this information for Project 2. A) We require you to describe how you would use project management tools to develop and implement a project plan. Discuss at least 3 tools from below:
• project management software
• Gantt and bar charts
• critical path method (CPM)
• Program Evaluation Review Technique charts (PERT)
• cost schedule control system
• life cycle cost analysis
• logistics support analysis
• spreadsheets
• technical resources
B) Whilst completing your project plan, ensure you include the following:
• deliverables
• work breakdown
• budget and allocation of resources
• timelines
• risk management
• recordkeeping and reporting
• consult and communicate with relevant stakeholders to generate input and engagement in planning, implementing and reviewing the project
• provide support to team members to enable them to achieve deliverables and to transition them as appropriate at completion of the project
• finalise the project including documentation, sign-offs and reporting
• review and document the project outcomes.
The summary on page 58 of the Learner Guide is the suggested approach for this project.
Assessor needs to use the below checklist to assess the Project 2.
Items Yes/ No Comments
Report on activities undertaken to define the parameters of the project including:
• deliverables
• work breakdown
• budget and allocation of resources
• timelines
• risk management
• recordkeeping and reporting
• consult and communicate with relevant stakeholders to generate input and engagement in planning, implementing and reviewing the project
• provide support to team members to enable them to achieve deliverables and to transition them as appropriate at completion of the project
• finalise the project including documentation, sign-offs and reporting
• review and document the project outcomes
Assessed by ______________________________________________
Assessor Signature_________________________ Date _________

Business, Accounting and Finance
BSBPMG522 Undertake project work
Assessment Outcome Record
In order to be deemed competent in this unit, the candidate must answer all written questions correctly and satisfactorily complete all practical tasks. In order to complete all practical tasks, all Observation Criteria need to be satisfied, i.e. demonstrated and marked as an 'S'. The task summary outcome must be noted as satisfactory to note the demonstration of a satisfactory outcome for each practical task requirement.
Student Name
• Not Yet Competent
• Competent
Comments
Assessor (Name)
Assessor Signature
Date

Business, Accounting and Finance
BSBMKG502 Establish and adjust the marketing mix
Student Assessment

Student Name:
Student Number:
Written Questions and Answers
Assessment is all about collecting evidence and making decisions as to whether or not a student has achieved competency. Students are required to answer all the questions. Evidence is information gathered that provides proof of competency. While evidence must be sufficient, trainers and assessors must focus on the quality of evidence rather than the quantity of evidence.
1 Identify the key characteristics of products or services and estimate their significance to the market. Please describe and expand to include 4 & 7 Ps, 3 major pricing strategies, at least 2 distribution strategies, characteristics of service and the products such as PLC Stages.
To identify the key characteristics of products or services and estimate their significance to the market, there are two formulas can be use which is the 4Ps and the 7Ps. 4Ps includes Price, Product, Place and Promotion, while 7Ps has three additional key which are Physical Environment, Process and People. These characteristics help to decide what product to sell at which location, how much to sell, how to promote the goods and services in the market. Then will move on to internal decision such as what procedures to includes, what type of staff required and how many of them, and the actual environment such as facilities.
When setting the price, there are three major strategies which are market penetration pricing, market skimming pricing and neutral pricing. Different pricing strategy will be used in different type of market. Market penetration is where the product set at a low price to compete with other competitors, neutral pricing is the general price that was set in market while market skimming pricing set the highest amount that they could charge on the product out of all competitors.
To decide which area for distribution, there are strategies such as intensive disctribution, franchising, selective distribution and etc.. Franchising is where the company bought over existing company’s name for a fixed period of time to sell their existing goods and services. Intensive distribution is a strategy where a company sells through as many outlets as possible.
2. As a manager when you are reviewing the pricing policy and analysing pricing variables to determine their effect on demand, what are some key factors? You need to consider the pricing procedure, 4Cs, what pricing variables support the pricing policy, company considerations and pricing decisions associated with costs.
When reviewing pricing policy and analysing pricing variables, key factors as below will be taken into consideration:
1. Pricing determination such as break-even analysis, cost-plus approach, condition of the market.
2. 4Cs which are the consumer, cost, company and climate.
3. Pricing variables supporting pricing policy: Price elasticity of demand
4. Pricing decision associated with costs such as materials costs, equipment costs, maintenance costs, staff wages and etc..
3. After an analysis on promotional methods in your organisation, explain how you determine their importance to the marketing outcomes.

4. Explain the results from a review on channels of distribution in your organisation and estimate their significance to marketing outcomes.
5. Explain how you would identify and analyse the level of customer service provision to determine its significance to marketing outcomes.
6. What do you need to consider when identifying the organisation’s potential customer base and key pressure points?
7. Part of an effective marketing plan, you need to analyse and test effect of components of marketing mix on each other and establish their relative importance to the customer base. What are some of the things you need to do?

8. Identify and assess environmental factors, and their impact on marketing mix by elaborating on an a) environmental analysis, b) PEST analysis and c) SWOT analysis?
9. Explain how you identify the consumer priorities, needs and preferences affecting marketing mix.
10. Consider product, pricing, promotional, distribution and service variations, and evaluate these against marketing objectives, target market characteristics and desired positioning.
11. Identify a marketing mix that best satisfies your organisation’s target market and meets the marketing objectives and explain the strategy.

12. How do you ensure the marketing mix decisions meets organisational, strategic and operational marketing objectives?
13. As a manager you need to monitor the marketing mix against marketing performance and isolate components for testing. Elaborate on how you would approach this.
14. What do you need to consider when evaluating the implications of altering one or more components of the marketing mix in relation to market factors and consumer response?
15. What do you need to consider when adjusting components of the marketing mix in response to test results and market-response evaluation?

16. How do you ensure the adjusted marketing mix meets budgetary requirements?
17. What is involved in ensuring the adjusted marketing mix continues to meet organisational, strategic and operational marketing objectives?
18. What statistical techniques are commonly used by business organisations to gather marketing information? Summarise several techniques and explain how you might use them to identify markets and marketing opportunities. Conduct appropriate research to answer this question.

Assessment Outcome Written Questions
Question Correct (?)
1
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18
Assessed by ______________________________________________
Assessor Signature_________________________ Date _________

Project Report 1
Write a report to explain the marketing mix according to ABC Company’s operational plan. Refer to BSBMGT517 Manage Operational Plan. (Minimum of 200 words)
Include in the report –
Activities undertaken to establish a marketing mix in an organisation, including information on each element of the mix, such as:
1. customer service levels (Refer to Q5)
2. product or service distribution (Refer to Q4 & Q10)
3. product or service pricing (Refer to Q2 & Q10)
4. additional products or services, if any (Refer to Q10)
5. product or service promotion (Refer to Q3 & Q10)
6. report on success of marketing mix activities developed, including coverage of any necessary adjustments made (Refer to Q13 & Q14)
Assessor needs to use the below checklist to assess the Case Study 1.
Items Yes/ No Comments
Report on activities undertaken to establish a marketing mix in an organisation, including information on each element of the mix, such as:
• customer service levels
• product or service distribution
• product or service pricing
• additional products or services, if any
• product or service promotion
• report on success of marketing mix activities developed, including coverage of any necessary adjustments made

Assessed by ______________________________________________
Assessor Signature_________________________ Date _________


Business, Accounting and Finance
BSBMKG502 Establish and adjust the marketing mix
Assessment Outcome Record
In order to be deemed competent in this unit, the candidate must answer all written questions correctly and satisfactorily complete all practical tasks. In order to complete all practical tasks, all Observation Criteria need to be satisfied, i.e. demonstrated and marked as an 'S'. The task summary outcome must be noted as satisfactory to note the demonstration of a satisfactory outcome for each practical task requirement.
Student Name
• Not Yet Competent
• Competent
Comments
Assessor (Name)
Assessor Signature
Date

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