Madonna Felicidad G.

Tomas
Diploma in HR

BSBRSK501 Manage Risk

Assessment Task 1 Written Question

1. The definition of risk identified in Australia/New Zealand Standard for Risk Management
(AS/NZS ISO 31000:2009) has changed from ‘the chance of something happening that
will have an impact on objectives’ to ‘the effect of uncertainty on objectives. It is a
probability or risk of damage, injury, liability, loss, or any other negative incident that is
caused by external or internal vulnerabilities, and that may be avoided through
preventive action.
2. Risk management is the identification, assessment, and prioritization of risks
followed by coordinated and economical application of resources to minimize,
monitor, and control the probability and/or impact of unfortunate events or to
maximize the realization of opportunities. Risk management’s objective is to assure
uncertainty does not deflect the endeavour from the business goals.
3.
• Recognise and control hazards in your workplace.
• Create awareness among your employees – and use it as a training tool as well.
• Set risk management standards, based on acceptable safe practices and legal
requirements.
• Reduce incidents in the workplace.
• Save costs by being proactive instead of reactive.

4. The main purpose of risk and management is to identify possible harms before they
take place so that risk-handling activities may be planned and raised as needed
across the life of the product or project to lessen unpleasant impacts on achieving
objectives.
5.
• Creates and protects value
• Be an integral part of organisational processes
• Be part of decision making
• Explicitly address uncertainty
• Be systematic, structured and timely
• Based on the best available information
• Be tailored
• Take into account human and cultural factors
• Be transparent and inclusive Engaging stakeholders
• Be dynamic, iterative and responsive to change
• Facilitate the continual improvement of organisations

6.
• work health and safety, such as accidents caused by materials, equipment, or
location of your work
• natural disasters, such as floods, storms, bushfires and drought
• legal, such as insurance issues, resolving disputes, contractual breaches, non-
compliance with regulations, and liabilities

7.
• Identify the hazards/risks.
• Decide who might be harmed and how.
• Evaluate the risks and decide on precautions.
• Record your findings and implement them.
• Review your risk assessment and update if necessary.
8.
• Documentation reviews
• Diagramming techniques
• Strengths, weaknesses, opportunities, and threats (SWOT) analysis

9.
• Identify hazards - find out what could cause harm.
• Assess risks, if necessary - understand the nature of the harm that could be caused
by the hazard, how serious the harm could be and the likelihood of it happening.
• Control risks - implement the most useful control measure that is reasonably
practicable in the circumstances.
• Review control measures - to make certain they are working as planned.
• Provide training and supervision- based on the level of expertise of the personnel
involved. As a minimum, this would include familiarisation with local hazards and
their control, safe work methods and emergency procedures.

10.
• Communicate your health and safety policy to staff.
• Assess the risks.
• Deal with any hazards promptly.
• Eliminate possible risk
• Retain Risk

11. Flowchart – A flowchart can be used to help to guide an organisation through all of
the main steps of risk management.
• Checklist – A checklist can include step-by-step guides and tick boxes to help to
ensure that everything has been done correctly and on time.
• Data Gathering – Finding quantifiable data which can be used to show risk and risk
probability.
Madonna Felicidad G. Tomas
Diploma in HR

BSBRSK501 Manage Risk

Assessment Task 2 Risk Management Project

Political Factors • There are no risk or changes identified.

Economic Factors • Most or some of the competitor owns majority of market share.
• The foreign exchange might affect the economic growth of the
company.

Social Factors • It will also affect the social behaviour of the employees if they
are over working.
• The change of lifestyle of the consumer will also affect the
company.
• The brand preference of consumers will also need to be looked
out by the company.
• Health of the employees
Te c h n o l o g i c a l • Untrained staff will also have an effect of the expansion of
Factors business.
• If also there is a change on trends in global technological
advancements, it will be a factor of risk in the company.

Legal Factors • Tax

• Competitive Regulations
Environmental • Ecological
Factors • Environmental issues on both National and International.

2. Strength and Weakness of Company

Strengths:

• Eco friendly products

• High quality beauty skin care products
• Sell product through online
• Company has own website for online selling
• Strong customer service

Weaknesses:

• They should also try to sell their products to other shops/stores

• Target age of product is only from 25-55
• They could widen the range of their product
3. Email

Dear Team leaders & members,

We are going to hold a meeting for the expansion of our company and it will be on the 17 of
th

August 2016 at 1:00 PM and it will be an hour and a half (1 ½) meeting. We will talk about
the need to assess the risks in expanding our business in Sydney, Brisbane and Melbourne.
We need to ask your ideas and opinions regarding the said expansion. Your presence is
highly appreciated. Thank you.

Regards,

MFGTomas
4. REPORT

TO: CEO
FROM: M.Tomas - HR Manager
Date: May 19, 2017

Dear CEO,

With regards to the proposed business expansion of our company, based on the summary of
PESTLE analysis that we have done we are more likely need to monitor first our business
expansion the risk is moderate but we need to make sure that we can handle it.

Our company’s strengths are we sell Eco friendly products which is very most likely to be
great market to our consumers, we also sell high quality beauty skin care products, we are
also selling product through online which is very convenient to our consumer who has no
time going to malls to buy our product, and of course we have a strong customer service
which is I think one of the best trait of our company.

But, as well as our strengths We also have our weak points that we need to improve we
should also try to sell our products to other shops/stores not only health food shops, the
target age of our product is only from 25-55 is very limited and we need to expand the
bracket so that anyone who wants to purchase it can do so, we could also widen the range
of our product we can also try to sell eco-friendly cosmetics which will be a great market to
women.

And as identified and discussed on our meeting we need to take it on a slow process in
expanding our business it will be too risky and it might lead to loss. And here are summary of
the most relevant risks which relates to customer service and operations in relation to our
expansion, it will also affect the social behaviour of the employees if they are overworking,
the change of lifestyle of the consumer will also affect the company and the brand
preference of consumers will also need to be looked out by the company. And in order for
our business expansion be successful we need to slow down the process and assess all the
risk that will affect the growth of our business as they say “Prevention is better than cure”
and we need to think and apprehend everything to make our expansion a success.

Truly yours,

Madonna Felicidad G. Tomas

HR Manager
Madonna Felicidad G. Tomas
Diploma in HR

BSBRSK501 Manage Risk

Assessment Task 2 Part C – Risk management project

Risk register

Area Risk Severity Severity Likelihood Treatment/control method

Rating Rating

Economic Most or some of the 3 3 1 More research before

competitor owns majority expanding
of market share.

Social It will also affect the 3 3 1 Make sure the shifts are well
social behaviour of the distributed to each employees.
employees if they are
over working.

Social Primary thing should the 3 6 2 The company should make

company to look for is certain that the employees are
the health of the always healthy to perform well
employees at work & to avoid sick leave.

Technological Change on trends in 3 6 2 Make sure the technological

global technological advancements are being
advancements it will be a monitored and updated all the
factor of risk in the time.
company.

Social The brand preference of 3 9 3 We should make sure our

consumers will also need brand is always give the high
to be looked out by the quality products to our
company. consumer.

Political There are no risk or 1 1 1 No action needed.

changes identified.

Social The change of lifestyle of 4 16 4 We should monitor and update

the consumer will also our products in case the
affect the company. lifestyle of our consumers will
change.
Action Plan

Risk Competitors have T h e c h a n g e o f Change on trends in global

majority of market l i f e s t y l e o f t h e technological advancements it
share consumer will also will be a factor of risk in the
affect the company company.

Actions Make a research We should monitor Make sure the technological

before expanding a n d u p d a t e o u r advancements are being
products in case the monitored and updated all the
lifestyle of our time.
consumers will
change
Who i s Senior Manager Senior Manager Technological/Engineering Dept.
responsible Head
Timeline Start date: Start date: 30/08/16 Start date: 30/08/16
30/08/16 Monitor Progress: Monitor Progress:
Monitor Progress: 30/09/16 30/09/16
30/09/16 End/Deadline Date: End/Deadline Date: 30/10/16
End/Deadline 30/10/16
Date: 30/10/16
Monitor Manager check M a n a g e r s h o u l d Dept. Head should always check
on due date and always check the a n d u p d a t e t e c h n o l o g i c a l
check if the staff lifestyle trend on the advancements.
are up to date market.
Email to CEO

TO: CEO
FROM: MFGTomas- HR Manager
RE: Risk Management Plan

Dear CEO,

This email is with regards to the risks that I believe are most likely to occur in relation to our
business expansion project and the treatment strategies that I believe will be effective in
ensuring that the risks are minimised or do not occur.

I attached the risk register and action plan for your reference.

Thank you.

Best regards,

Madonna Felicidad G. Tomas

HR Manager
Email to Team Members

Dear team,

With concern to the risk register plan I have noticed that we should give attention on the
social factor with regards to the lifestyle change of the consumer.

The risk that we should focus more on the highest severity rating that we got on the risk
register, and it is the change of lifestyle of our consumers and I think it will be a major risk if
we will not be able to keep up with the changes of the trend lifestyle of our consumers they
will tend to look for other brands which will cater and will satisfy their needs.

And it will be a big problem for our company in case we won’t be able to cater and satisfy
their needs it only means one thing we will lose our consumer and they will most likely go or
patronize other products. And I think the solution that I have selected will be a big help to
treat the risk, we need to always keep our range of products in trend and we need to make a
research on which is the newest trend product on the market and keep up with our
competitors.

We need to always enhance our product and make sure that we give our consumer the
highest and the best quality products from our company. With that treatment we will be able
to treat the risk before it affects our company.

Best regards,

Madonna Felicidad G. Tomas

HR Manager
Madonna Felicidad G. Tomas
Diploma in HR

BSBRSK501 Manage Risk

Assessment Task 4 Part A – Risk treatment implementation and evaluation

To : CEO
From : Team Leader
Date : 20 August 2016
th

Subject:Investment in training

Dear CEO,

The range of training options for the customer service representatives are highly needed for
our staffs to be able to perform their work more efficiently and knowledgeably. There are two
training options that we can choose the first one is cheap which is informal training where
our manager will talk to our staffs regarding the work and how to do their jobs properly and
the other one which I highly recommend as a team leader that the two people will be
needing is the formal training in which our staff will be getting a course training in a school.

I researched a company that will be able to help us with regards in training our staffs. Dale
Carnegie Training is a well known company here in Australia. They are offering a great
training for our two employees. They are located at 123 Pullenvale QLD, NSW 4069 and it
will be a three week training the cost will be $ 2,100.00 per person.

I hope that my recommendation will be regarded as it will help our employees as well as it
will benefit our company. Thank You.

Best Regards,

Madonna Felicidad G. Tomas

HR Manager
Diploma in HR

BSBRSK501 Manage Risk

Assessment Task 4 Part B – Risk treatment implementation and evaluation

To : CEO
From : MFGTomas-HR Manager
Date : 25 August 2016
th

Subject:Evaluation of Management Policy and Procedure

Dear CEO,

This email is regarding the summarization of the overall risk management process
evaluation; I find it a little bit difficult to identify the risks especially when it comes to the
competitors which have majority of market share. The change of lifestyle of the consumer
will also affect the company and lastly, the change on trends in global technological
advancements it will be a factor of risk in the company. The staff could give helpful input
moreover; I am confident that all the risks have been identified.
With regards to the proposed business expansion of our company, based on the
summary of PESTLE analysis that we have done we are more likely need to monitor first our
business expansion the risk is moderate but we need to make sure that we can handle it.
The principles of risk management in the Nature Care products risk management
policy and procedure is consistent with AS/NZS ISO 31000:2009.
There are no changes that I recommend to the risk management process. I hope that
this evaluation of the management policy and procedure will be a great help. Thank You.

Best regards,

Madonna Felicidad G. Tomas

HR Manager