BSBRSK501 Manage Risk Assignment Help Solution

Assessment – 1 – Written Question

Assessment Task 1 Cover Sheet

Student Declaration 

To be filled out and submitted with assessment responses

◻   I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s). 

◻I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me. 

◻   I have correctly referenced all resources and reference texts throughout these assessment tasks. 

Student name
Student ID number
Student signature
Date

Assessor declaration

◻I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures. 

Assessor name
Assessor signature
Date
Assessment outcome	S	NS	DNS	Resubmission    Y     N

Feedback

Student result response

◻My performance in this assessment task has been discussed and explained to me. 

◻I would like to appeal this assessment decision. 

Student signature
Date

A copy of this page must be supplied to the office and kept in the student’s file with the evidence.

1. Discuss the purpose of risk management standards. Include an example of a risk management standard in your answer. 

Risk management standards were developed to provide guidance for those who are required to conduct risk management processes. These standards are intended to provide a global agreement on how to handle such risks and advise on how to cope with others in best practice. Risk management standards enable organizations to implement effective and tested methods.

Examples of standards for risk management include ISO 31000:2009, ISO/IEC31010:2009 and ISO guide 73:2009 which are created to help guide organizations with various risk management aspects. FERMA has also established its own risks management system, as well as the common ISO standards, that provide guidance for all processes, from the identification of risks to the transition of some risk to another group (Hopkin, 2018).

2. Outline the AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelines and each of the 11 principles. 

The 11 principles of risk assessment are:

• Risk control sets and maintains value.
• Risk management is part and parcel of all corporate operations.
• Risk management is an important aspect of the decision-making process.
• Risk analysis tackles complexity directly.
• Risk analysis is organised, effective and comprehensive.
• The best available information is the basis of risk management.
• Risk management is tailored to specific criteria.
• Human and environmental aspects are taken into consideration in risk assessment.
• The management of risks is open and equitable.
• Risk assessment is complex, iterative and changes sensitive.
• Risk assessment promotes the organisation’s performance growth.

3. Explain the requirements of WHS legislation in relation to risk management.

WHS legislation requires clear instructions on the handling of risks to health and safety for individuals with duties under the WHS Act and Regulations. The responsibility is enforced by individuals operating a company or organisation, including bosses, independent personnel, main contractors, staff, builders, managers and suppliers of factories, substances or systems for use at work. This Specification extends to all working conditions under the WHS Act and all forms of workplaces. For guidelines on risk management of specific hazards, other accepted procedure codes should be cited (Hubbard, 2020).

4. List the factors that must be taken into account in determining risk control measures for hazardous manual tasks as stated in the Model Work Health and Safety Regulations 2011.

The main factors of risk that are identified in the Health and Safety Regulations 2011: „

• Workspace architecture and construction 
• The environment in which the manual task is done, scale, weight, or amount of items handled. Such risk factors can also exacerbate the mission and therefore raise the likelihood of MSD (Tupa, et. al., 2017).

5. Explain the purpose of risk management policies and procedures in the workplace.

Risk management policies and procedures provide for a Structure for risk management and also enable managers and risk monitoring officers to better recognise, identify and control risks within their areas in order to raise overall awareness of risk across the council. It helps to improve ownership of land. It identifies functions and duties to ensure an awareness of the risk management process. It provides guidance on best practises and outlines the various components to be handled in order to include the risk management methodology in each stage of the council (Glendon, et. al., 2016).

6. List three examples of the impact of risks for a workplace if risks are not identified or actioned. 

Three risk potential impacts might be disruption of operations, lack of investor trust, or fines, and reimbursement for employee problems.

7. Outline a step-by-step procedure that companies can use for analysing risks.

Step 1: Recognize the business risk

Step 2: Analysing the risk

Step 3: Risks must be prioritised and classified

Step 4: It needs to eliminate as much as possible

Step 5: Reviewing and monitoring the risk

8. Outline three sources of information that a company could use to gather information on potential risks. 

Brainstorming: A network of individuals focussed on determining the danger for the project is engaged in brainstorming.

Delphi Technique: An informal team of practitioners is contacted. An expert will receive a list of facts, answers will be gathered and responses will be sent out for further analysis before consensus is achieved (Almeida, et. al., 2017).

Interviewing: Project managers, partners, consultants, etc. may be consulted in order to assess risks.

9. Describe three examples of tools or techniques that a company could use to identify risks as part of a risk assessment process.

Tools and techniques involve:

SWOT Analysis: For the project, strengths and disadvantages are identified and risk is also identified (Sweeting, 2017).

Checklist Analysis: The Vulnerability Group Checklist is used to define potential project threats.

Risk register: It contains past evidence for future projects. 

10. Explain four options that a company could take to control risks.

Avoidance: But it is important to remember that nothing is earned, and so often for many organisations that is not a realistic option.

Reduction: In relation to the potential return on investment, risk reduction methods must be weighed. If the cost of reducing the risk outweighs the cost of an event, it needs to decide if it pays off.

Transfer: Risk transfer is a practical risk management approach because it recognises that incidents occur sometimes but ensures that the company is prepared to handle the consequences of these eventualities (Rampini, et. al., 2020).

Acceptance: Often those who think the risk transfer or decrease expense unreasonable or needless choose this choice.

11. Explain four procedures that a company could use to minimise risk.

Four procedures to minimise risk are as follows:

• It can be expanded the offerings of the business
• By reviewing the internal controls of the existing system.
• By creating a risk management plan.
• By managing finance.

Assessment – 2

Assessment Task 2 Cover Sheet

Student Declaration 

To be filled out and submitted with assessment responses

◻   I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s). 

◻I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me. 

◻   I have correctly referenced all resources and reference texts throughout these assessment tasks. 

Student name
Student ID number
Student signature
Date

Assessor declaration

◻I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures. 

Assessor name
Assessor signature
Date
Assessment outcome	S	NS	DNS	Resubmission    Y     N

Feedback

Student result response

◻My performance in this assessment task has been discussed and explained to me. 

◻I would like to appeal this assessment decision. 

Student signature
Date

A copy of this page must be supplied to the office and kept in the student’s file with the evidence.

1. Develop a risk briefing report.

Introduction

“Nature Care” has been founded in 1996 and manufactures products for skincare. The goods manufactured by the company are organic and environmentally conscious. A wide range of natural products, including creams, moisturising creams and facial scrubs, are made. The company is also selling its goods via its website, where it has good sales and plans to increase its future sales.The firm is now financially secure, but its rivals have lately discovered that they market the same commodity. In the next three years, the company will then aim to increase its revenue by at least 20%.Therefore, the marketing manager wants its study and evaluation to make a decision.

Scope

• Increase by 20 percent the number of people who order when visiting the online shop.
• Improvement by 150 in NatureCare Goods’ number of retail stores.
• Improving market share
• To reach into one foreign market at least.
• New technologies and sectors to be found.

PESTLE Analysis

Political Factors: The political conditions in Australia will have a positive influence on natural care goods as the government agreed to sustainable businesses and the environment. the laws and regulations of the country in which the business is operating. The most recent elections resulted in an increasingly business-growing Liberal Government that promoted tax cuts and other facilities for small and large businesses. The latest news polling suggests a further triumph for the Reform Government who will promote the potential spending of $150,000 in natural health care (Aven, 2016).

Economic Factors: The economic considerations include the exchange rates in the country in which the company operates. In contrast to the other western European economies, Australia has a high per capita GDP economy. Australia’s natural resources are strong and foreign investments are also attracting.

Social factors: The social factors describe social-technical trends. Modern culture is more eco-friendly in skincare goods, to keep skin hygienic. In this environment, culture seeks to use the best most natural forms to preserve the flesh. Culture creates highly organic and natural goods in the business.Based on today’s view and thinking of the skincare industry, the demand for natural care products is higher than for other products available. The most interested are most likely women aged 25-55 years.

Technological Factors: In today’s world, technology is influential in all life sectors. Trust and acknowledgement in a company such as natural care play an important part in the company’s advancement and development. The company looks forward always in developing its products and introduces new and innovative products and meet the customer’s needs.It is easier to make a strong relationship with the customer by providing technology. Technology provides a fundamental means between the enterprise and customers, adequacy of facilities to all new products easy and updated marketing materials easy. Anyone can easily access the Company’s website and the company’s technical team aims always to keep them updated with no faults and failures (Behzadi, et. al., 2018).

A Customer Relationship Management System (CRM), is an integral part of all departments of marketing, sales and business development.CRM from small businesses into large companies CRM is highly necessary to develop and sustain relationships with customers and to sustain an exemplary customer relationship management framework.

Legal Factors: The company Naturecare expanded quite quickly, and also established a number of rivals. In order to remain on the market, to retain its revenues, and not to lose its clients, it must comply with all the laws of its government. Today’s citizens are well aware of the ethical implications. Since the business is regulated by certain laws, it is very necessary that all specifications are fulfilled and that its goods are produced to comply with all relevant laws.Australian Consumer Law ( ACL) governs food protection in Australia. The Business and Consumer Act 2010 (CCA) timetable contains the ACL. In-state and federal fair trade law, similar clauses can also be included (DuHadway, et. al., 2019).

Environmental Factors: The environmental considerations have contributed to many national environmental protection regulations that would conform to universal requirements. The earth has vowed to save the environment from toxins and beauty. Both international brands, therefore, have a role to play in communicating support to the world. Besides, Nature Protection will help promote those efforts and meet with international requirements. In Queensland, Australia, the company is one of the pioneers in the world of skincare. The external and internal variables that influence the business as a whole can therefore be known better. The variables previously alluded to explain the brand study.Therefore, incorporating these considerations in the formulation of organisational strategies is indeed a smart policy. Similarly, the company’s future strategies could be enforced in line with market trends.

Risks

Risk	Treatment
Financial Risk	Trust for buyers and surplus for final spending
Inefficient resource usage	To plan the whole supply chain flow for essential inspection and contingency at all stages for each little point of communication.
Low customer satisfaction with customer service	Communicate through using feedback method with customers
By-law Compliance Risk	Effective checking and safe delivery of safe products. Application for all required permits in advance.
Insurable risk	By taking an insurance policy

Internal and external stakeholder analysis 

Internal stakeholders include employees, manager and internal supervisors.

External stakeholders include external advisors, risk audits, risk consultants, and Government organisations. The above stakeholders will be responsible for the risk assessment process both internally and externally. They must be able to assess danger and the exact character of a problem. They must be able to look critically at the situation and be able to express whatever recommendations have on risk management.The challenge is for them to negotiate transparently about how they want knowledge to be shared (Wiengarten, et. al., 2016).

Strengths and weaknesses

Factors	Strength	Weakness
Costs	With a good financial condition, the company is well-founded	Price competition
Profits	It can afford to grow the company to $150,000.	These businesses have already been well-established and are also financially stable.
Inventory	With women aged 25-55, the company targets about 42 million of the female population at this age, making it an enormous market for JAPAN.	The organisation manufactures no goods for adults, children and teenagers. In a place such as Australia, where temperatures are too hot in summer, the business doesn’t manufacture sunscreens or creams.
Competition	The company is set up to satisfy the rising need for eco-friendly and natural skin products.	In the industry, JURILIQUE and BOTANI are new rivals that manufacture the same kind of products.
Marketing	High quality environmentally sustainable goods are being manufactured by the company.	Limited product range

Critical success factors

NaturalCare Products’ key goal is to become one of Australia’s number 1 supermarket firms, offering high quality low cheap natural goods using environmentally sustainable manufacturing processes, expanding their product selection by 10 percent low reaching 95 percent consumer loyalty minimum (Belliniand Di Bernardino, 2017).

NaturalCare ‘s overall objective is:

• The new department store opens in Melbourne, Sydney and Brisbane, boost the business by 20 per cent.
• Meet 100% environmentally conscious vendors to ensure good quality goods.
• Enable a 95 percent customer retention score.
• Expand the product collection to draw more clients.
• Enhance the organisation’s recruitment and teaching procedures.

2. Send an email to the CEO

Dear Sir/Madam,

I’ve developed a risk management plan to ask, and I am giving you all the attachments, together with all the tactics, to our plan to expand the distribution of our products in new stores in Melbourne and Sydney.

I would also like to address the venue, time and date for the meeting in order to discuss our business’ whole risk management plan. I also want to discuss the place, time and date for the meeting to discuss all the risk management plan for our business.

Please find the attachment below.

Thank you

Best Regards

3. Send an email to your team.

Dear Sir/Madam,

I would also like to address the venue, time and date for the meeting in order to discuss our business’ whole risk management plan. I also want to discuss the place, time and date for the meeting to discuss all the risk management plan for our business.

Please find the attachment below.

Thank you

Best Regards

 

5. Develop a Risk Management Plan

1. A) Likelihood: The next step, after the risk is identified, is to calculate the possibility of leveraging possible vulnerabilities. Many considerations must be taken into consideration as this probability is calculated. Firstly, the investigator must understand the threat’s nature, the motive behind the threat and nature’s ability. Further, auditors shall identify the extent of the vulnerability and, ultimately, to prevent or minimise vulnerability, the status and effectiveness of existing inspections. It can be defined as high, medium or low the probability of a possible weakness (Zou, et. al., 2016).

According to the Case Study, there are:

• Financial Risk: Around the same time, consumer diversification and demand for current goods needs vast quantities of cash flow for research and growth, marketing, promotions and the expansion of the market, which can lead to financial pinch. It’s a big and potential possibility.
• Inefficient resource usage:Since management recommends that retail goods are distributed at the right location. It is really important at the right time and in the right place. Any failure of the supply chain would negatively affect consumers.
• Low customer satisfaction with customer service: Another risk that is identified is related to customer satisfaction. It is really important to meet up with the customer demands in order to fulfil their satisfaction. 
• By-law Compliance Risk:As far as cosmetics and associated products are concerned, the Department of F&D takes extreme care except with mild side effects. Another challenging subject is registration. 

1. B) Consequence: Failure to deal with the risk will lead to implications ranging from simple drawbacks to serious risks. The ultimate effect is devastating, major, minimal and negligible.

• The catastrophic risk is greater than $x, reputation damage on the international scene and long-term environmental damage, such as multiple injuries, regulatory intervention, loss of revenue or asset.
• Significant risks include human athletes, infringements of permits, laws, statutory or required requirements, loss of net profits and/or harm to properties from $xxx, reputational risk at national and medium-term environmental risk (1-5yr) (American Diabetes Association, 2016).
• Minor danger such as violation of internal policies, net income loss or damage to properties to up to $x$xxx, unfavourable media coverage and environmental losses of up to $250,000.
• Minor risks such as no violation of permits, regulations, rules or audit results relevant to the risk; net sales loss or harm to properties $x, public knowledge, but little consumer complaints and minor environmental impacts.

1. C) Risk register

Risk	Consequences	Severity Rating	Likelihood Rating	Treatment or control methods	Priority rating (high, medium or low)Order of priority
Financial Risk	Moderate	High	Likely	Trust for buyers and surplus for final spending	Low
Inefficient resource usage	Moderate	Low	Almost certain	To plan the whole supply chain flow for essential inspection and contingency at all stages for each little point of communication.	Medium
Low customer satisfaction with customer service	Major	Medium	Moderate	Communicate through using feedback method with customers	High
By-law Compliance Risk	Catastrophic	High	Rare	Effective checking and safe delivery of safe products. Application for all required permits in advance.	High

1. D) Risk action plan 

Each of the risks identified above should be included in the table below and the actions have shown. The table should be copied and pasted for each risk. 

Description of risk	Financial Risk
Summary of recommended response and impact	The adequacy, reliability and usefulness of the internal management system and the vulnerability of that process to abuse, internal compliance defects, or abuses of authority on a sample basis
Proposed actions	By accessing the weekly bank statement and detailed project costs report, consistency with deadlines is accomplished.
Resource requirements	Bank statements and Financial accounts
Responsibilities	Financial controller
Timing	3 Weeks
Reporting/Monitoring	Financial manager

Description of risk	Inefficient resource usage
Summary of recommended response and impact	The nature and methods of the Company’s compliance;  Data and database quality and credibility and security;
Proposed actions	Monitoring stock levels at each supply chain stage in order to reduce end-time inventories
Resource requirements	Resource management plan
Responsibilities	Operations manager
Timing	2 Weeks
Reporting/Monitoring	Team leaders

Description of risk	Low customer satisfaction with customer service
Summary of recommended response and impact	The appropriateness of feedback of operating entities is improved to ensure the successful atmosphere for corporate control;
Proposed actions	By conducting feedback forms from customers to analyse their opinion
Resource requirements	Feedbacks from customer
Responsibilities	Employees
Timing	1 Week
Reporting/Monitoring	Manager

Description of risk	By-law Compliance Risk
Summary of recommended response and impact	Business properties transparency to reduce losses
Proposed actions	By keeping a tracker of all results and feedback from the lab and monitoring the side effects closely.
Resource requirements	Feedbacks and lab results
Responsibilities	Account managers & Operations manager
Timing	6 Weeks
Reporting/Monitoring	Employees

Assessment 3 – Risk Implementation Project

Student Declaration 

To be filled out and submitted with assessment responses

◻   I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s). 

◻I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me. 

◻   I have correctly referenced all resources and reference texts throughout these assessment tasks. 

Student name
Student ID number
Student signature
Date

Assessor declaration

◻I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures. 

Assessor name
Assessor signature
Date
Assessment outcome	S	NS	DNS	Resubmission    Y     N

Feedback

Student result response

◻My performance in this assessment task has been discussed and explained to me. 

◻I would like to appeal this assessment decision. 

Student signature
Date

Report on Staff Training Option

Fundamentally there are three types of training options available which include Instructor – Led training, e-learning and management specific trainings. In order to attain the better and effective outcomes. Management effective training is related to the various kinds of the specific management activities which include the training related to the leadership skills, problem solving skills etc. Instructor led training refers to the process in which the companies hire well qualified trainers to train their employees and to provide the complete and effective approach to answer individual employees directly or indirectly. These trainers are insisted and provided with the option to train the organization staff at their own working style and culture. This helps and promotes the professional trainer’s quality and knowledge to the organization and helps organization to create enriched skill sets within their individual employees. This kind of training programs helps to create more skills related to the team formation, team communication, team building and more. E-learning training programmers are becoming one of the best methods to train the individual employee with the required skill sets from their trainers online. This made this process more easy and convenient for both individual employees and trainers in terms of time and distance. This training program helps organization to provide the employee with the required skills using online medium with world class trainers and their quality content.

Undertake an inspection of head office

Head office inspection was carried out while considering the various aspects such as poor air quality, ergonomics and noise. Quality of air plays one of the most important part in the inspection of head office. This aspect provides the detailed information related to the humidity, air pressure, bacteria, values or percentage of oxygen and other gases within the air. Noise plays another important role in the inspection of head office as the noise in the surroundings can increate tension and stress level of the employees that could result in downfall in individual employee’s performance. The last aspect of head office inspection is ergonomics. This aspect also plays an important role in the inspection; this provides the complete information related to the lightning in the environment, health products and kits, sitting plan and more. Clearance of these aspects helps an organisation to achieve high quality and effective performance with the assigned task to the employees of the organisation.

Develop a customer questionnaire

Questionnaire	1	2	3	4	5	6	7	8	9
Do you know what are the products sold by Natural Care?
How Much do you like products of Natural Care?
What would you like to rate the products of Natural Care?
How expensive are the products of Natural care from their employees.
Do you like the marketing strategy of Natural Care?
What would you rate  the product packaging and branding of Natural Care?
Do Natural Care sell Online?
How excited you would be if you receive the products of Natural Care at your doorstep?

E-mail to CEO

To 

From 

Subject: Training Report 

Hi sir 

I am sharing with you the details of the questionnaire prepared. The Business growth plan is also need to be developed and will be shared. 

Thanks & Regards 

Risk Monitoring Report

Customer Survey Report 

Customer result Memo 

To: 

From: 

As discuss in previous meeting with the staff include in recent times conduct survey of customer in order to enlighten continuing process in addition to promotion.

Also it has also been discussed, it is conveyance you the outcome which determination in addition notify the efficiency of the guidance provide to the new-fangled Managers of the trade accumulate. 

Customer survey findings are as follows:

On the whole fulfillment by means of NatureCare goods

36 completely contented

28 fairly content

5 discontented

6 entirely disappointed

Manufacturing standard illustrate with the purpose of usual figure of clientele who signify that only 51% are completely satisfied. Score is 55% full amount contentment and it is observed that is above the age of the industry.

Ease of doing business with NatureCare Products

30 completely contented

20 fairly content

1 discontented 

Manufacturing standard illustrate with the purpose of usual figure of clientele who signify that only 57% are completely satisfied. Score is 40% full amount contentment and it is observed that is above the age of the industry

Easiness of linking to staff and the manager of the store

• 52 Satisfied
• 5 little satisfied
• 0 not satisfied
• 1 completely dissatisfied

Manufacturing standard illustrates with the purpose of usual figure of clientele who signify easiness of linking to staff and the manager of the store 72%.

On behalf of the scrutiny of the results above, gain is 84% intended for entirety contentment, which is observed as the above avg.

Regular purchase of the products 

• 52 Satisfied
• 5 little satisfied
• 0 not satisfied
• 1 completely dissatisfied

Manufacturing standard illustrates with the purpose of usual figure of clientele who signify easiness of linking to staff and the manager of the store 72%.

On behalf of the scrutiny of the results above, gain is 84% intended for entirety contentment, which is observed as the above avg.

Recommendation Nature Care Products to others 

48 totally satisfied

9 somewhat satisfied

4 dissatisfied

0 totally dissatisfied

Manufacturing standard illustrates with the purpose of usual figure of clientele who signify easiness of linking to staff and the manager of the store 64%.

On behalf of the scrutiny of the results above, gain is 78% intended for entirety contentment, which is observed as the above avg.

Staff Survey Result Memo 

The environment of the organization is productive.

Responsible of their own task and attaining common goals 

Employees’ daily challenges as an opportunity which is the first step towards success

What do you like least about working for this organisation?

No formulated hierarchy within the organization 

Lack of training 

Lack of communication. 

No appraisal policies.

Apart from profile there are various other responsibilities are been

What causes you the most stress or frustration at work?

Pressure for work 

Managerial issues 

If you were the CEO of this organization, what would you do differently?

Setting goals both long term and short term.

Introducing appraisal policies. 

Increasing employment involvement. 

What is it about this organisation that causes you to give more than what’s expected (or necessary to keep your job?

Focus on attaining company’s vision

Working on attaining more profits.

Company growth so that employees can also grow

What about this organisation causes you to withhold an extra effort?

To work with full potential

Everyone are not putting same efforts

What gets in the way of teamwork and/or cooperation in this organization?

Everyone is focussed on their own growth 

Procedures are not followed dedicatedly. 

Managers are not very much concerned in getting involved with team.

What could be done to improve teamwork and cooperation?

Populace necessitate qualified appropriately furthermore by manager, consequently with the intention of learning the appropriate measures in addition to be confident to obtain explanation meant for potential orientation. This willpower in addition agrees to manager to observe the employees’ development (or lack thereof).

Enhanced communiqué in addition to assistance all the way through the complete corporation.

Performance Review Results

To: 

From: 

As discuss, I am sharing the consequences of current reviews related to the performance through customer who are currently working as an managerial position. 

Please get back to me if you have any questions. 

Regards,

HR Manager

Performance Review Results

Performance Review Results Manager 1

Procedure

1. Have the same opinion on the appraisal of performance
2. Discussion over the performance on regular basis.
3. There should be set objectives related to the opinion of the manger and the employees. 
4. The main part of the process will be related to the training.
5. Outcome of performance agreement will be recorded.

Performance review for:  

Date: 

Work product: It is related to the quantity and quality of the work done by the employees.

Go above necessities:

• There should be high quality and high accuracy in the works.
• Priority should be given on improving work performances.
• The documents related to the workplace should be errorfree.

Dependability.

Committed towards Requirements:

• Constantly reach workplace on time.
• Employees are not allowed to take random leaves and emergency leaves should be effectively documented.

Cooperation

• Customer questions should be effectively answered.
• Healthy relationships should be there among colleagues.

Performance Review Results Manager 2

Procedure

1. Have the same opinion on the appraisal of performance
2. Discussion over the performance on regular basis.
3. There should be set objectives related to the opinion of the manger and the employees. 
4. The main part of the process will be related to the training.
5. Outcome of performance agreement will be recorded.

Performance review for: Sasha (Manager Sydney) 

Date: 

Work product. 

Meets Requirements:

• No constant supervision is required.
• Acceptable error rate observed and timely completion of assigned work.
• Documentation is completed within time and errorfree.

Dependability: 

• Appreciative record of attendance.
• Overtime is also been observed as per the requirements.

Cooperation: 

• Observed team work which us healthy for organizational development
• Good qualities like honesty, polite behavior observed in employees.

E – Mail to CEO

To 

From 

Hello Sir 

It is to inform that the results are evaluated. Please find the attachment for the same.  

Thanks, and Regards 

Assessment 4 – Risk Management Process Evaluation Report

Student Declaration 

To be filled out and submitted with assessment responses

◻   I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded with any other student(s). 

◻I understand that if I am found to have plagiarised, cheated or colluded, action will be taken against me according to the process explained to me. 

◻   I have correctly referenced all resources and reference texts throughout these assessment tasks. 

Student name
Student ID number
Student signature
Date

Assessor declaration

◻I hereby certify that this student has been assessed by me and that the assessment has been carried out according to the required assessment procedures. 

Assessor name
Assessor signature
Date
Assessment outcome	S	NS	DNS	Resubmission    Y     N

Feedback

Student result response

◻My performance in this assessment task has been discussed and explained to me. 

◻I would like to appeal this assessment decision. 

Student signature
Date

A copy of this page must be supplied to the office and kept in the student’s file with the evidence.

1. Develop a risk management evaluation report

A. Evaluate the overall risk management process.

Risk identification is a complex process because it calls for a thorough review and understanding of organisational processes, procedures and specifications. The level of trust is strong because the internal employees provided information and feedback used as direct input to the risk report. the risk identification structure is very accurate.

• Was it easy or difficult to identify risks?

The recognition of the risk factors was not that complicated.

• Was staff input (at the meeting) helpful?

Yes, staff input is helpful as I was able to collect additional information and contribute to the study by using the feedback from the staff meeting.

• How confident are you that all the risks have been identified?

I am very sure that myself and the meeting have defined both threats.

B. Consider whether the process indicated in the Nature Care Products’ current Risk Management Policy and Procedures is sufficient to guide the risk management process used for the business expansion project. Explain why or why not.

The method suggested in NatureCare Goods was partly necessary, since the main factors were established by a PESTLE analysis. It influences and then adds to the world in which NatureCare Products works in the risk study. The intern employees focused on the new management role problem, which is a highly efficient method for detecting risk. The main concern was that the performance management system was postponed and it became impossible to track the workers’ output as they entered the new roles (Giannakisand Papadopoulos, 2016).

C. Explain whether the principles of risk management in the Nature Care Products risk management policy and the procedure is consistent with AS/NZS ISO31000:2009 Risk Management Principles and Guidance.

In compliance with AS / NZS ISO31000:2009, risk control standards and procedures in the Nature Care product risk management policies and procedures have been introduced. When internal personnel worked during the whole risk assessment process, the coordination was seen to be a core component of the risk recognition, review and tracking phase. The company also acknowledged and included the contribution of new hires with a detailed knowledge of the organization’s policies and practices, to the full recognition and assessment of risk processes (Bodnar, et. al., 2019).

D. What changes would you recommend to the risk management process?

My recommendation is that an external expert better determines the risk mechanism. They will help recognise danger globally and, in this case, the problem with new opening companies does not just arise in a single region. Furthermore, the analyst has an impartial viewpoint that can be used without discrimination or advantage by the internal workers to handle conversations and arguments about risk within an enterprise. 

Secondly, Collaboration & Communication Management, often administrators feel that their task is completed if they interact directly with their workers. There are also many reasons why workers are reluctant to hear or comprehend what their supervisors first say (American Diabetes Association, 2017).

Initial communication is generally directed at raising the consciousness of market factors and consequences of transition. Equally, communications should be structured at each stage of the process to communicate the relevant signals at the right time. Consequently, marketing strategy starts with a thorough review of the target, main messaging and scheduling. A coordination program meeting the needs of front-line personnel, managers, and executives must be developed by the progress management committee or by project leaders. Each audience must have specific information needs based on their role in carrying out the transition.

References

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