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cambridge collage
internation
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Evaluation
of risk management plan
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Assessment
Task 3 BSBRSK501B Manage risk
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Table of Contents
1. Plan
a)
Banking Risk
ü Keep on the premises overnight in
the cash register.
ü Computer was not password protected
b) Manager’s Travel Risk
ü Federal Government’s National Broadband Network rollout not yet been
installed due in part to the delay
ü Lack of a professional business culture in the family run business.
ü Sometime management meetings are not finish on time.
c) By-law compliance Risk
ü Specific procedure has not yet been written.
ü Store is still above the acceptable benchmark for water use with
by-law ends in 14 days.
ü Failure to meet compliance standards in WHS, Privacy and industrial
relations law.
2. Implementation
a) Banking Risk
ü Insurance covert cash $5,000
ü Open now Account
ü Training on daily banking
ü Using Macville’s regular bank
b) Manager’s Travel Risk
ü Federal Government’s National Broadband Network rollout will
Install.
ü Meeting finishes close to 3pm
ü Manager can leave before 1pm
c) By-law compliance Risk
ü External audit report 6month
ü Dual flush
ü 5 Star rated
ü Water usage monitor dishwasher
3. Outcomes
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Insignificant
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Minor
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Moderate
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Major
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catastrophic
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Likely
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Water
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Moderate
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Baking
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Unlikely
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Manager
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Rate
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a) Banking risk
ü Installing native plants to cut down water use.
ü Install a water tank and reduce dependence on
council water.
ü Install dual flush toilets.
ü Introduce new processes on water use and
conservation.
ü Write new policy and procedures for water use in
Toowoomba.
ü Install a water usage graph in the staff room.
ü Replace the dishwasher with a 5–6 stat (WELS)
rating.
b) Manager’s travel risk
ü Finish management meetings at 3:00pm.
ü Change assistant management times to the morning.
ü Give the manager an excusal letter allowing them
to leave any meeting at no later then 3:00pm every day.
ü Install a teleconferencing system.
ü Installing native plants to cut down water use.
ü Install a water tank and reduce dependence on
council water.
ü Install dual flush toilets.
ü Introduce new processes on water use and
conservation.
ü Write new policy and procedures for water use in
Toowoomba.
ü Install a water usage graph in the staff room.
ü Replace the dishwasher with a 5–6 stat (WELS)
rating.
4. Evaluation
a) Banking risk
i)
Past: theft of cash left on
premises.
ii)
Current
ü Policy and procedure requirement to bank daily.
ü Open an account with closest bank.
ü Insurance on ‘cash on premises’.
iii)
Future: Reduce risk for loss
and danger
b) Manager’s travel risk
i)
Past: physical injury.
ii)
Current
ü Install teleconferencing
ü Management meetings to finish 3:00pm
ü Management training shift to morning half day sessions.
iii)
Future: physical profit
c) By-Compliance risk
i)
Past: reputation/brand loss and fines.
ii)
Current
ü Install water saving devices (native plants,
tank, dual flush toilet systems, 5–6 star (WELS) dishwasher.
ü Policy and procedures to change work practices.
ü Apply for time to ‘Make good.’
iii)
Future: Keep the law
