BSBRSK501 Manage risk
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.
Assessment task 3: Monitoring
This report aims to recognise all the issues that have been identified in assessment task 1 as well as the plans to resolve them that have been given in assessment task 2. This report would serve as a monitoring guideline of the action plans to combat the risks of expanding to the new shop at Toowoomba.
The different issues that have been identified in Assessment Task 1 have been given an action plan in Assessment Task 2. These action plans have given solutions about how to tackle the risks that MacVille may face while expanding the new store at Toowoomba. This part of the report would be monitoring all the action plans to see if they are effectively implemented so that the problems are resolved and the company profits the most from the expansion.
To properly monitor the action plans, each section of the plan is going to be analyzed separately.
All the initial risk factors that were detected at the first phase of the expansion plan has been very well described to the authorities. The risks have been classified according to the severeness of the risks. The biggest two risks were the growing competition of the area and the risk of paying a lump sum fine for over usage of water for the dishwasher. MacVille was advised to upgrade the water system by the newly appointed manager, Ash. it was further planned that MacVille should open an account at a bank which is closer to the store. It were also planned that the shop would have a teleconferencing system that would help with the communication between the workers there and the senior members and the authorities at Brisbane. The initial report of the manager explained that the approach to the cafe had problems due to being blocked by trucks. Weekly management meetings were decided upon so that the operations of the new shop could be kept an eye on and proper changes could be made wherever necessary. Dual flush toilets were meant to be installed at the washroom. Water conservation process was planned to be completely revamped.
The assistant manager of the store was to be trained during the morning hours, so as to help him with on hand experiences. To prevent over using water, a water gauge was decided to be installed at the staff room, so that everyone could notice the usage and use the dishwasher and other water dependant things accordingly. The dishwasher was planned to be replaced completely.
The implementation to tackle the risks that were identified in Assessment task 1 were met with varying degrees of success.
The bank account that was supposed to be opened at a closer bank or branch, had been made into a reality about four weeks after the shop started to operate, when it was originally intended to be opened within one week. However, this is not the regular bank where MacVille has its other accounts. This has made it a little difficult to get the same hassle free services that the company is used to receive at its branches in Brisbane.
The teleconferencing system was set to be installed within six months of the shop being opened. This system is yet to be made into a reality. The rollout of the federal government’s National Broadband Network caused this and the company is trying to look for other solutions to this, so that the system can be installed at an earliest. This would immensely help the company; weekly or monthly meetings and daily communication between Brisbane and Toowoomba would become much easier.
The training of the assistant manager has been successfully moved in the morning time. This has helped him to learn a lot about the operations of the shop and about the different roles of the individual employees of the store. Having on hand experience has made him a valuable employee of the company in a very short period of time.
The by-law regarding the water usage has been reviewed by the Board of Directors and the CEO and a new company policy has been written about this. Though a specific procedure is not yet clear, it is being seen that the company is being compliant with the law.
Weekly management meetings were planned to be finished by 3.00 pm. This is happening as planned. But sometimes, the manager has to overstay as requested by the head office team. The CEO has not issued an excusal letter to the manager, as promised initially. This gives the manager no authority to leave at 3.00 pm.
The non-native plants that were at the shop have been changed. This has also helped to curtail the water uses, as the previous plants had to be kept fully watered all the time. The five-star rated WELS dishwasher has been installed within the first six months as planned originally.
Toowoomba City Council has approved of the company’s request for Goldsmith to “make good” on behalf of the company.
Audits were planned, but till now only one internal audit has been conducted; while there should have been one every two months. It has been said by the manager that the distance between Brisbane and Toowoomba is making it difficult for the auditors to come to the shop to conduct the audits.
Training on water saving process is not being complied with, as there is still no written instructions about it. The water tank that had been built in the courtyard is not being used yet because there were some issues with the plumbing.
The problem that had ensued involving uniforms has not been resolved. These original staff are now training the new employees. This is also helping to reduce training costs for the company. Moreover, they are not explaining the uniform regulations to the new employees. This resulted in more non-compliance regarding the uniform issue.
As it is very evident from the absolute report delivered by the Store manager, the risks that have been identified during the due course can be classified into certain broader penchants. There has a considerable dimension of legal trouble that have the potential to evolve into severity of consequences. As the by-law compliance index suggests, the workers are undergoing a apparent dearth of water during dishwashing since the chief moiety of the entire reservoir of water owes a considerable amount of water from the corresponding council. Consequently, the workers have to compromise the usage of water as per the priority of purposes which herald an embedded paucity across the entire channel. Though the enterprise owns an desire to install native water plants in order to compensate the residual requirement of water while reducing the foreign dependence. Apart from that, they seem quite adamant to recruit competent chauffeurs in order to ensure the safety of their indispensable executive since they are recently suffering from impeded access in to the premises.