For this assessment task, you will need to review the simulated business’s risk management processes and determine the scope and objectives, taking into account stakeholders and both internal and external environmental factors affecting the organisation. Once you have gathered this information, you are to identify risks and write a draft report to the CEO. You will meet with the CEO to discuss your report, seek support for your findings, and approval to communicate risk management processes to relevant stakeholders for their feedback and participation
1. Review the provided MacVille simulated business scenario information and documentation provided in the Appendices of this task.
2. Write a report for the CEO (your assessor) that addresses the following:
a. The effectiveness of the MacVille Risk Management Framework in supporting the principles and processes of risk management, set out in the risk management standard AS/NZS ISO 31000:2009. Outline the purpose and key elements of the standard in your discussion.
b. Identify and describe the scope of risk management required in your role.
c. Identify and describe the critical success factors, goals or objectives for areas included in the scope.
d. Identify relevant internal and external stakeholders, their role in the risk management process, and any issues or concerns they have raised. Complete the Table of Stakeholders Template.
e. Complete a PEST analysis and a SWOT analysis to identify risks associated with the scenario. Outline the relevant legislation, regulations and standards
f. Describe the methods of research that you used to complete your PEST and SWOT analysis. For example, how you approached the simulated business information; legislation, regulations, etc.; and any other information or research on risk that applies to the scope of your report.
g. Complete the analysis of risk for the scenario by summarising the scenario and identifying a list of risks to the project.
Note: Ensure your report is written in a style appropriate to your stakeholder audience, for example, using appropriate language and including appropriate illustrative material (such as checklists, diagrams or flow charts) and attachments to support your summary.
3. Submit your report as per the specifications on the next page. Be sure to keep a copy for your records.
4. After you have developed your report, write an email that is intended for relevant stakeholders (identified in Step 2). Your email should clearly ask stakeholders for input, include a list of risks you have identified and invite them to assist in identifying any additional risks.
5. Send the email to the CEO (your assessor) for review and request a meeting to discuss identified risks and further risk management processes.
6. Meet with the CEO to:
a. discuss your findings, particularly your understanding of the critical success factors and goals
b. explain the MacVille risk management process
c. discuss how you can communicate with stakeholders about the risk management processes in this scenario and invite them to participate in discussions to further identify risks associated with the scenario
d. obtain the CEO’s support for ongoing risk management activities
e. ask the CEO for input on additional risks.
7. In dot-point form, summarise your discussion with the CEO. This should include any recommendations they made to you.
8. Submit the required documents for assessment as per the specifications below. Be sure to keep a copy for your records.
Specifications
You must provide:
● a risk review report, including a completed table of stakeholders
● email communication to stakeholders
● summary notes from your meeting with the CEO. Your assessor will be looking for evidence of:
● reading skills to gather, review, interpret and analyse text-based business information from a range of sources
● written and oral communication skills to organise and deliver information to effectively communicate risk management processes to a range of stakeholders
● numeracy skills to interpret mathematical data when reviewing and analysing scenario business information
● ability to work independently as well as collaboratively to make decisions about risk management
● ability to interact with others using appropriate conventions when communicating to, and consulting with, stakeholders
● ability to sequence and schedule activities and manage communication
● ability to analyse relevant information to identify scope, goals and objectives and to evaluate options
● ability to use familiar digital technology to access information, document findings and communicate them to stakeholders.Adjustment for distance-based learners
● No variation of the task is required.
● A follow-up interview may be required (at the discretion of the assessor).
● Documentation can be submitted electronically or posted in the mail.
● The role-plays can be adjusted for distance learning. The role-plays for this task can be varied to take place using Skype conferencing (or any other video conferencing tool available to both you and the assessor)