BSBRSK 501 Manage Risk Assessment: Tasks Demonstration And Observations

Demonstration and Observation Tasks

Throughout this unit, the learner will be expected to show their competency of the elements through observations or demonstrations. The observations and demonstrations will be completed as well as the formative and summative assessments found in the Learner Workbook. An explanation of demonstrations and observations:

Demonstration is off-the-job

A demonstrationwill require:

Performing a skill or task that is asked of you
Undertakinga simulation exercise

Observation is on-the-job

The observation will usually require:

Performing a work based skill or task
Interaction with colleagues and/or customers

The observation/demonstration will take place either in the workplace or the training environment, depending on the task to be undertaken and whether it is an observation or demonstration. Each task must be observed. You will need to ensure you provide the learner with the correct equipment and/or materials to complete the task. You will also need to inform the learner of the time they have to complete the task; this will once again vary, depending on the task.

Learner should be able to demonstrate they can:

Establish risk context
Identify risk
Analyse risk
Select and implement treatments

Learners should also demonstrate the following skills:

Reading
Writing
Oral communication
Numeracy
Navigate the world of work
Interact with others
Get the work done

Observation/Demonstration Checklist

Candidate’s Name
Assessor or Observer’s Name
Unit of Competence (Code and Title)	BSBRSK 501 Manage Risk
Date of Assessment	06/07/2018
Location	75 Gozzard Street, Gungahlin 2912 ACT, Australia.
Demonstration Tasks	Completed
Materials and Equipment	Provided
Tasks to be observed, demonstrated or simulated if appropriate	Yes	No	Comment
1. Establish risk context:Did the learner demonstrate that they could review organisational processes, procedures and requirements for undertaking risk managementin accordance with current risk management standards?
2. Establish risk context:Did the learner demonstrate that they coulddetermine scope for risk management process?
3. Establish risk context:Did the learner demonstrate that they couldidentify internal and external stakeholders and their issues?
4. Establish risk context:Did the learner demonstrate that they couldreview political, economic, social, legal, technological and policy context?
5. Establish risk context:Did the learner demonstrate that they couldreview strengths and weaknesses of existing arrangements?
6. Establish risk context:Did the learner demonstrate that they coulddocument critical success factors, goals or objectives for area included in scope?
7. Establish risk context:Did the learner demonstrate that they couldobtain support for risk management activities?

8. Establish risk context:Did the learner demonstrate that they couldcommunicate with relevant parties about the risk management process and invite participation?
9. Identify risk:Did the learner demonstrate that they couldinvite relevant parties to assist in the identification of risks?
10. Identify risk:Did the learner demonstrate that they couldresearch risks that may apply to scope?
11. Identify risk:Did the learner demonstrate that they coulduse tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties?
12. Analyse risk: Did the learner demonstrate that they couldassess likelihood of risks occurring?
13. Analyse risk: Did the learner demonstrate that they couldassess impact or consequence if risks occur?
14. Analyse risk: Did the learner demonstrate they can evaluate and prioritise risks for treatment?
15. Select and implement treatments: Did the learner demonstrate that they coulddetermine and select most appropriate options for treating risks?
16. Select and implement treatments: Did the learner demonstrate that they coulddevelop an action plan for implementing risk treatment?
17. Select and implement treatments: Did the learner demonstrate that they couldcommunicate risk management processes to relevant parties?
18. Select and implement treatments: Did the learner demonstrate that they couldensure all documentation is in order and appropriately stored?
19. Select and implement treatments: Did the learner demonstrate that they couldimplement and monitor action plan?
20. Select and implement treatments: Did the learner demonstrate that they couldevaluate risk management process?
The candidate’s performance was:	Not Satisfactory	Satisfactory
Further Comments:
Candidate’s Signature
Assessor/Observer’s Signature

Support Questions for observation checklist

Candidate’s Name
Assessor or Observer’s Name
Unit of Competence (Code and Title)
Date of Assessment
Location








The candidate’s performance was:	Not Satisfactory	Satisfactory
Client Feedback
Candidate’s Signature
Assessor/Observer’s Signature

The Third Party Report should be completed by a senior member of staff i.e. a supervisor or manager, where possible. The report should cover the points below, with a description to show that the tasks have been witnessed over time, while working with the learner. Examples, times, dates etc. should be included, if possible.

As this unit is about managing risk, you will need to have witnessed the learner within a working or training environment:

Establishing risk context
Identifying risk
Analysing risk
Selecting and implementing treatments.

Ticking yes/no next to the tasks is required, as well as an accompanying report.

Third Party Checklist

Candidate’s Name
Assessor or Observer’s Name
Unit of Competence (Code and Title)
Date of Assessment
Location
Demonstration Tasks
Materials and Equipment
Tasks to be simulated if not witnessed over time:	Yes	No
1. Did the learner review organisational processes, procedures and requirements for undertaking risk managementin accordance with current risk management standards?
2. Did the learner determine scope for risk management process?
3. Did the learner identify internal and external stakeholders and their issues?
4. Did the learner review political, economic, social, legal, technological and policy context?
5. Did the learner review strengths and weaknesses of existing arrangements?
6. Did the learner document critical success factors, goals or objectives for area included in scope?
7. Did the learner obtain support for risk management activities?
8. Did the learner communicate with relevant parties about the risk management process and invite participation?
9. Did the learner invite relevant parties to assist in the identification of risks?
10. Did the learner research risks that may apply to scope?
11. Did the learner use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties?
12. Did the learner assess likelihood of risks occurring?
13. Did the learner assess impact or consequence if risks occur?
14. Did the learner evaluate and prioritise risks for treatment?
15. Did the learner determine and select most appropriate options for treating risks?
16. Did the learner develop an action plan for implementing risk treatment?
17. Did the learner communicate risk management processes to relevant parties?
18. Did the learner ensure all documentation is in order and appropriately stored?
19. Did the learner implement and monitor action plan?
20. Did the learner evaluate risk management process?
The candidate’s performance was:	Not Satisfactory	Satisfactory
Further comments:
Candidate’s Signature
Assessor/Observer’s Signature

Third Party Evidence

Confidential Information

Name of Candidate

RTO:

Unit(s) of Competence

As part of the assessment for the units of competency, we are seeking evidence to support a judgment about the candidate’s competence.As part of the evidence of competence we are seeking reports from the supervisor and other people who work closely with the candidate.

Do you understand which evidence/tasks the candidate has Yes No

provided/performed that you are required to comment on

As the assessor explains the purpose of the candidates Yes No

assessment

Are you aware that the candidate will see a copy of this form Yes No

Are you willing to be contacted should further verification of this Yes No

statement be required

What is your relationship to the candidate?
How long have you worked with the person being assessed?
How closely do you work with the candidate in the area being assessed?
What is your technical experience and/or qualification (s) in the area being assessed?(Include any assessment or training qualifications.)

Throughout this unit, you will be expected to show your competency of the elements through observations or demonstrations. Your instructor will have a list of demonstrations you must complete or tasks to be observed. The observations and demonstrations will be completed as well as the activities found in this workbook. An explanation of demonstrations and observations:

Third Party Report

Demonstration is off-the-job

A demonstration will require:

Performing a skill or task that is asked of you
Undertaking a simulation exercise

Observation is on-the-job

The observation will usually require:

Performing a work-based skill or task
Interaction with colleagues and/or customers

Your instructor will inform you of which one of the above they would like you to do. The demonstration/observation will cover one of the unit’s elements.

The observation/demonstration will take place either in the workplace or the training environment, depending on the task to be undertaken and whether it is an observation or demonstration. Your instructor will ensure you are provided with the correct equipment and/or materials to complete the task. They will also inform you of how long you have to complete the task.

You should be able to demonstrate you can:

Establish risk context
Identify risk
Analyse risk
Select and implement treatments

You will also need to show:

Reading
Writing
Oral communication
Numeracy
Navigate the world of work
Interact with others
Get the work done

Activities

Estimated Time

30 Minutes

Objective

To provide you with an opportunity to review organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards.

Activity

What is the difference between the new ISO13000 and AS/NZS 4360:2004?

Both AS/NZS 4360:2004 and ISO13000 are risk management standard that are to be followed by the project managers and the project team members for the successful accomplishment of any project.
ISO13000 defines the below risks:

· Risks with the executive level stakeholders

· Compliance and internal auditors

· Risks of the independent practitioners

· Issues with line managers and project managers

The AS/NZS 4360: 2004 risk management standard deals with the blow factors:

· This standard helps the business organizations to get confident as well as rigorous decision making basis

· Better identification for both business threats and opportunities

· Pro active and re active business management

· Improved compliance and stakeholders engagement to their job roles

Briefly outline the legal framework.

Legal framework is the set of rules and policies developed by various acts of parliament with the power of the councils. For any business organization it is necessary to follow the standard legal framework for resolving the risks.

Case study: Christine Finkel worked13 hours a day, six days a week for three months. She noted that the floor was slippery but decided to help a customer before taking steps to clear the area. By the time that Christine returned to the area, she had forgotten that the floor was wet. Christine fell and broke her leg.

What unsafe behaviour have you identified here?

For this particular case study the unsafe behaviour that has been noted is Christine’s concern and unconscious mind while coming back to the slippery zone of her own office building.

What could be the impact of Christine’s situation to the organisation?

As the employee fell down and broke her legs thus she will be given sick leave to get recovery sooner. It will affect her job roles and responsibility and salary scale as well.

What would you do if you took a job as a supervisor and walked into a similar situation?

If I took a job as a supervisor and walked into the similar situation then the first thing that I will do is replacement of the existing floor tiles with a less slippery one. It is expected if the texture of the floor changes then the changes of accident will automatically gets reduced.

Activity 1.2.1 – 1.2.3

Estimated Time

30 Minutes

Objective

To provide you with an opportunity to determine scope for risk management process.

Activity

Do you believe understanding the different types of risk can assist you in defining the scope?

Yes, proper understanding of different types of risks will definitely assist the project manager and the project team members to determine the project scope for the risk management process.

This report depicts the crucial necessity of implementing proper risk management action in one of the well known Australian retail company Woolworths Limited. Due to lack of technical applications the company was facing major operational and functional issues these days. It is identified that with the help of proper risk management strategies the operational as well as functional risks that the company is facing get reduced. The company is committed to the ongoing development of different strategies and enterprise wide approach to the risk management underpinned by the risk awareness culture.

When writing the scope, what should the writer consider?

While writing the project scope the main factors on which the project manager should focus on are the project objectives and the demand and desires of the consumers from the project.

Based on project objectives assumptions and other constraints are also required to be developed ad those are the other factors that have to be considered by the project heads. For the case of Woolworths Limited, three lines defence model is adopted by the company to reduce the identified risk.

Based on your outline in the previous question, use your knowledge of your own organisation, or an organisation that you know, to write a brief scope of risk management. (Note: if you work or have worked in a large organisation, you can use this question to write a scope for a project you work on or have worked on) – In your answer, briefly explain the organisation or project.

In this report the risks those are interrupting the success of the company are identified, analyzed and mitigated respectively. While developing the risk management strategies the professional risk management policies are also considered accordingly. In order to identify the risks both the internal and external business environment of Woolworths Limited are analyzed in details. In addition to this respective monitoring and action plan for the Woolworths Limited are also identified in this report. The details of the line defence are also illustrated in this report.

Woolworths limited Group is much focused on the development of a strategic and consistent enterprise approach for risk management by properly analyzing the risk-aware culture. Risk management policy is applied to every person who works for Woolworth Limited in Australia (McNeil, Frey and Embrechts 2015). This particular policy is mainly supported by the framework of Enterprise Risk management.

Activity 1.3.1 – 1.3.4

Estimated Time

30 Minutes

Objective

To provide you with an opportunity to identify internal and external stakeholders and their issues.

Activity

List three internal stakeholders that you may find in an organisation.

The three different internal stakeholders that are find within the business organization are:

1. Project manager

2. Finance manager

3. And operation manager

List four external stakeholders that may be associated with an organisation.

· Project sponsors

· Consumers

· Government

· Suppliers

In the chart below, identify three stakeholders, state their objectives towards your organisation, or an example organisation, in terms of risk management (i.e. supplier believes goods loaded onto an unsafe delivery dock). Who is your contact with the supplier and how would you consult with them? What are the recommended feedback and consultation procedures with them?

Stakeholder	Objective/s	Contact	Feedback and consultation
Project sponsors	To invest accurate financial support and capitals to develop the IS system.	Project manager	Positive
Consumers	To get desired products and services from the company	Project manager	Positive
Suppliers	To supply valid raw material, hardware and other technical components	Finance manager	Positive

Case study: In recent months, your organisation has grown as demand for the product has increased. In turn, the number of deliveries from one of your suppliers has increased. Your organisation has established a strong relationship with one driver, Nick, and he is the only one able to deliver goods to the organisation due to the volatility of the goods delivered. Do you believe that the driver is put at risk? Why?

Principles of Risk management

ü Risk management principles at Woolworth are much focused on creation and protection of value for this organization. It is mainly stressed on providing uncertainty which can affect its objectives.

ü Risk management mainly helps the decision makers to have an understanding regarding any kind of consequences which may arise.

ü Risk management is mainly tailored to a perfect business and is responsive to change (Cagliano, Grimaldi and Rafele 2015).

ü Risk management at Woolworth should be transparent in nature so that all the stakeholders can effectively understand the various kinds of risk.

ü The effectiveness of risk management is mainly improved by various kinds of a process like training, reviews, communication and lastly collaboration.

Woolworths has adopted or implemented a risk management method as per the Australian Standard (AS/NZS ISO 31000:2009). This particular method is considered to be important for Enterprise Risk management framework. Various risk management systems and methodologies should be considered to be consistent with this particular process.

Woolworth has adopted three line of defense which can be used toclarifying accountability of risk in its organization (Neves et al. 2015). The three line of defense in Woolworth are

ü Risk ownership and management

ü Risk oversight

ü Independent insurance

What could the impact of the increase of deliveries have on the supplier?

If the deliveries of products increase then it implies that the demand from the consumer’s end is increasing. Due to overload of order products suppliers may fails to deliver products to the consumers within given time period. With the increasing demand the delivery cost and expectation of the consumers will also enhance.

The supplier contacts you and asks you to change your driver policy as the driver has complained. What is this called? How would you resolve this problem?

Vehicle and driver safety policies must maintain the locations that have been travelled in details and safety of the drivers as well. Based on the complaints of the driver I will incorporate certain policies as well

In order to resolve this issue I will incorporate the date of issue, will keep the details of the driver and his driving licence as well.

Activity 1.4.1

Estimated Time

30 Minutes

Objective

To provide you with an opportunity to review political, economic, social, legal, technological and policy context.

Activity

Gather into small groups for the following group activity:

Choose an example organisation and make a list of at least one change in the following areas that will impact on the organisation’s risk management processes. What steps would you take to ensure that your work area is safe in regard to risk?

The areas are:

Political:

· Political pressures can easily act against the duopolistic nature of the retail organization that is Woolworth

· Stability in the political domain is considered to be a vital point for the country economy

· Protection of intellectual property

· Mandatory benefits to a large number of employees

Economic

· A various lackluster consumer who is spending in Australia can easily impact its retail business (Cagliano, Grimaldi and Rafele 2015)

· Infrastructure in quality of food and staples retailing industry

· The proper level of economy in the country

· Unemployment rate

· Economic growth rate

· Poor relationship with various businesses can easily affect the business culture of Woolworth.

· Demographic and proper level of skill population

· Education level and education standard in Woolworth

Legal

· Woolworth has battled with ACCC ( Australian competition and consumer market)

· It is recommended to implement strict mandatory codes in Woolworth

· Protection of vital data of employee

· Employment law

· Protection of consumer and various e-commerce.

Technological

· Woolworth should implement anSAP-based system which can easily improve the overall efficiency of this organization.

· Technological development in Woolworth

· Technological impact on various product offering

· The rate of technological diffusion

The policy context

· Woolworth should focus on the investment of energy efficiency and carbon initiatives.

· Change in weather

· Regulation of air and water in food and staple industry

· Management of waste in the food and retail industry

Estimated Time

30 Minutes

Objective

To provide you with an opportunity to review strengths and weaknesses of existing arrangements.

Activity

Complete a SWOT analysis of an organisation that you know well.

Is the organisation internally or externally driven? Why?

Strength	Weakness
Woolworth is considered to be one of the well-known brands of retail in Australia It comes up with a large number of supermarkets and huge market share Offer best product and services in the market Amalgamation of various things like brick and mortar industry Proper commitment to the environment It affects the CSR program	Woolworth is less internally known Losing of competitive advantage in the competition Woolworth entered late in the online industry
Opportunities	Threats
It can grow to the huge organization in upcoming years Better promotion program which can be used for winning customer (McNeil, Frey and Embrechts 2015) The better retail market in the upcoming years Social media can be considered to be a well-known platform for attracting and engaging various customers.	Wars in terms of discount with another supermarket in Australia like Coles. Loss of customer Slow growth of the online retail industry in Australia.

Activity 1.6.1 – 1.8.1

Estimated Time

45 Minutes

Objective

To provide you with an opportunity to document critical success factors, goals or objectives for area included in scope; obtain support for risk management activities; and communicate with relevant parties about the risk management process and invite participation.

Activity

Use the following critical success factors and document how you would ensure that your organisation’s (or example organisation’s) performance improves. The CSFs are:

Trust: As the level of trust among the company owners and the consumers will become stronger the demand from the consumers end will increase. The trust will enhance the customer loyalty also.

Organisational culture: The Organizational culture will reduce the inter-organizational and intra-organizational conflict.

Management support: Support from the management team will generate commercial revenue for the company and also increase the competitive advantages of the company.

Communication: The project manager and the project team members should follow open communication so that they can share their views with each other.

How can you know if you have handled the CSFs correctly?

The project outcome and the project results will let the company know that the critical success factors that are nominated for the Woolworths Limited are handled absolute appropriately.

For one of the CSFs ask the relevant personnel (or trainer, if not working for an organisation) for support in managing associated risks and briefly document this.

Woolworths Limited is considered to be the second largest private sector employers in Australia. This organization has an action plan which can be used for creating new employment and educational outcomes for the Australian. The plan comes up with a practical pathway which can be used for achieving inclusiveness within Woolworth. It is considered to be an important factor for a long-term goal within workforce which is in proportional to Australian diverse population. It will also help in the proper establishment of proper training and employment program for Australian employees so that they can easily retain their jobs at Woolworth. The scope of an action plan for Woolworth mainly provides an idea which can be used for providing more opportunities and effective outcome for Aboriginal and their supply partners. The plan mainly centers on four keys of pillars that is a relationship, respect, opportunities and reporting.

Discuss the associated risks for the CSF, as mentioned in the last question, with those involved, or with two other persons from your training group, and note the outcome of this.

· Inappropriate communication

· Inadequate support from the management and operation team

· Inaccurate work culture

Estimated Time

40 Minutes

Objective

To provide you with an opportunity to identify risks.

Activity

Identify a risk in your work area or example work area (this can be a possible risk if there are no risks requiring improvement).

What is the risk?

Due to lack of technical applications the Woolworths Limited was facing major operational and functional issues these days.

Provide details of the problem.

It is identified that with the help of proper risk management strategies the operational as well as functional risks that the company is facing get reduced. The company is committed to the ongoing development of different strategies and enterprise wide approach to the risk management underpinned by the risk awareness culture.

Who would you discuss this problem with?

A discussion regarding this must be doe along with the project manager of the company

What type of research would you do to measure the level of risk?

For measuring the level of the risk the research that will be conducted include the following:

· survey questionnaires

· journal and article review

What documentation could you use?

· Project status report

· Progress report

What literature would you research?

Literature of specific security threats for information system will be reviewedInvite other members of your team/training group to also help identify any risks and note down the outcome of this.

· In sufficient training and development programs

· Lack of communication

Consultation is an important part of the risk analysis; in what ways can you gather information from stakeholders in this instance?

By conducting survey questions and interviews information will be gathered from different sources.

Estimated Time

45 Minutes

Objective

To provide you with an opportunity to analyse risks.

Activity

Using the research from Activity 2.1.1-2.3.1, complete the following:

Likelihood

Ø Probability of a given risk occurring, such as:

o Almost Certain (exposed to hazard constantly)

o Likely (exposed to hazard occasionally)

o Unlikely (could happen but only rarely)

o Highly unlikely (could happen but probably never will).

Moderate Injury consequences & possible likelihood form part of standard Risk Management but you can decide if they meet your requirements.

Consequences may be rated as:

a) A fatality

b) Major or serious injury (serious damage to health that may be irreversible, requiring medical attention and ongoing treatment). This is likely to involve significant time off work;

c) Minor injury (reversible health damage that may need medical attention but limited ongoing treatment). This means that it is less likely to spend more than a day off work.

d) Negligible injuries (might sustain slight injury and may require only primary first aid) and no time off work

Assess the risk

What is the likelihood of this problem arising again?

Inadequate management support-high likelihood

Inappropriate communication- high

Inappropriate work culture-Medium

What are the possible consequences of this risk?

· Increase the rate of social and commercial risks

· Reduce competitive advantages

· Negatively impact the total number of consumers

Evaluate and priorities risks for treatment?

· Improper change management

· Inadequate communication

· Inappropriate work culture

What opportunities do you think there are in your case? How can these opportunities be usedHuge positive opportunities are present within the case of Woolworths Limited. For developing and implementing details of the change management planning is required and this can be successfully implemented due to the engagement of the senior level management.

References

Ariyawardana, A., Ganegodage, K. and Mortlock, M.Y., 2017. Consumers’ trust in vegetable supply chain members and their behavioural responses: A study based in Queensland, Australia. Food Control, 73, pp.193-201.

Beare, H., Caldwell, B.J. and Millikan, R.H., 2018. Creating an excellent school: Some new management techniques. Routledge.

Bromiley, P., McShane, M., Nair, A. and Rustambekov, E., 2015. Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), pp.265-276.

Cagliano, A.C., Grimaldi, S. and Rafele, C., 2015. Choosing project risk management techniques. A theoretical framework. Journal of Risk Research, 18(2), pp.232-248.

Cenci, L., Disperati, L., Persichillo, M.G., Oliveira, E.R., Alves, F.L. and Phillips, M., 2018. Integrating remote sensing and GIS techniques for monitoring and modeling shoreline evolution to support coastal risk management. GIScience & Remote Sensing, 55(3), pp.355-375.

Dos Santos, M.A., Svensson, G. and Padin, C., 2013. Indicators of sustainable business practices: Woolworths in South Africa. Supply Chain Management: An International Journal, 18(1), pp.104-108.

Elzamly, A. and Hussin, B., 2015. Classification and identification of risk management techniques for mitigating risks with factor analysis technique in software risk management. Rev. Comput. Eng. Res, 2(1), pp.22-38.

Glendon, A.I., Clarke, S. and McKenna, E., 2016. Human safety and risk management. Crc Press.

Havranek, T., 2017. Modern project management techniques for the environmental remediation industry. Routledge.

Hopkin, P., 2017. Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.

Kaiser, M.G., El Arbi, F. and Ahlemann, F., 2015. Successful project portfolio management beyond project selection techniques: Understanding the role of structural alignment. International Journal of Project Management, 33(1), pp.126-139.

Leveson, N., 2015. A systems approach to risk management through leading safety indicators. Reliability Engineering & System Safety, 136, pp.17-34.

Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A.M.E. and Villanueva, P., 2014. Project risk management methodology for small firms. International journal of project management, 32(2), pp.327-340.

Martinelli, R.J. and Milosevic, D.Z., 2016. Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.

Matyas, D. and Pelling, M., 2015. Positioning resilience for 2015: the role of resistance, incremental adjustment and transformation in disaster risk management policy. Disasters, 39(s1), pp.s1-s18.

McNeil, A.J., Frey, R. and Embrechts, P., 2015. Quantitative Risk Management: Concepts, Techniques and Tools-revised edition. Princeton university press.

Modarres, M., 2016. Risk analysis in engineering: techniques, tools, and trends. CRC press.

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