Assessment Task 2: Risk Management Project: Carefully Read The Following

Assessment Task 2: Risk Management Project
Carefully read the following:
You are the Operations Manager of a medium-sized Australian company, NatureCare Products,
based in Brisbane. The company commenced business in 1996, and manufactures eco-friendly,
high quality beauty skin care products.
The business was established to cater for a growing demand for skin products that contain eco-
friendly and natural ingredients. There is also an emphasis on eco-friendly packaging. The
company makes all its products in a small factory.
The company sells its products direct to a chain of health food shops across Australia, as well as
online through its own web site. Products ordered online are shipped directly to customers
from the factory. Products provided to health food shops are provided to the health food shop
distributor who then distributes the products to all its stores. The relationship with the chain of
health food shops is a long-standing one (ten years).
The company targets customers that want high quality, eco-friendly products. Market research
has identified that around 70% of their customers are professional women aged 25 to 55.
NatureCare Products’ strategic priorities focus on business diversification and growth. They aim
to increase their market share by 10%, and to expand the existing product range to attract
more customers.
At a recent board meeting, the two company shareholders and the CEO discussed options for
expanding the business, including establishing a chain of retail outlets. The idea is to initially set
up one retail outlet in central Sydney, Brisbane and Melbourne. Products will continue to be
made in the company’s factory and shipped to the retail outlets.
The CEO has asked you to investigate this, undertaking a risk analysis on establishing a chain of
retail outlets. The CEO and shareholders are keen to get the business expansion started as
soon as possible, so you need to get your risk management plan in place immediately.
Currently the company employs the following staff: Accounts Manager, Marketing Manager,
Marketing Assistant, Sales Manager, four customer service representatives, Office Manager and
Administration Assistant, Operations Manager, as well as the CEO and two shareholders as
indicated above.
The company currently has a Risk Management Policy and Procedures in place that
incorporates the AS/NZS ISO31000:2009 Risk Management Principles and Guidelines.

Complete the following activities:
1. Develop a risk briefing report.
Review the case study information provided to you, as well as the company’s risk management
policy and procedures to determine the scope of the risk management process required.
Use the internet to search for relevant information on risk management standards.
You should also review the recent Team Meeting Minutes on the business expansion project to
inform your report.
Use the Risk Briefing Report Template to guide your work.
Your report will be sent to the CEO for initial feedback and then you will meet with your team to
brainstorm further risks associated with the business expansion project.
Your report should include the following:
· Introduction, including the purpose of the risk analysis
· The scope of the risk management process, any risks that may apply to the scope, and
objectives and critical success factors for the area included in the scope
· An outline of the risk management process as per the organisation’s policy and
procedure, as well as how the organisation’s process aligns with the risk management
standards as identified in the link provided to you.
· A PESTLE analysis identifying the key factors that impact on the environment in which
NatureCare Products operates and their relevance to the risk management process. You
should also use this analysis to identify important factors that may influence consumer needs
and desires as part of analysis of external stakeholders, as well as to inform the key risks you
identify below.
· You are also required to identify at least five risks identified with the expansion, and at
least one potential risk treatment option for each of the risks you identify.
· Identification and analysis of internal and external stakeholders and the issues they may
have that are likely to impact on the risk management process.
· An analysis of the strengths and weaknesses of the company’s existing retail approach
namely, online and through health food shops.
· Analysis of critical success factors, goals or objectives for the business expansion project.

2. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate
(polite, business-like) style.
It should provide a brief overview of the risk management project, introduce and summarise
the contents of the attachment, and seek their feedback and approval to move forward with the
project.
Attach your risk briefing report to the email.
Your assessor will send you an email in the role of the CEO, providing you with feedback and
approval to proceed.
3. Send an email to your team (your assessor).
It should invite the team to participate in a meeting to brainstorm risks associated with the
company’s proposed expansion.
Your email should briefly explain the purpose of the meeting and advise of the date and time
for the meeting (your assessor will advise you of the date and time and also provide you with
the email addresses of the two students who will be your team).
The meeting is to run for approximately 30 minutes.
4. Conduct team meeting
After giving a short introduction, present to your team the risks that you have identified, as well
as the treatment measures you have selected. Refer to your Risk Briefing Report and share your
ideas, encouraging the meeting attendees to share theirs.
Steer this discussion into a brainstorming session.
Take paper and pen with you, or use a whiteboard, to jot down ideas as they are given.
At the meeting, you are required to:

· Clearly explain the risk management process as per the organisation’s policy and
procedure.
· Discuss the risks you have identified and potential risk treatments
· Seek ideas from the team about risks involved in the business expansion, as well as
treatment measures.
· Agree on the most important risks that should be included in the risk management plan,
as well as suitable risk treatments. At least five must be identified.
During the meeting, you will need to demonstrate effective communication skills including:
· Speaking clearly and concisely
· Using non-verbal communication to assist with understanding
· Asking questions to identify required information
· Responding to questions as required
· Using active listening techniques to confirm understanding
Close the meeting by thanking the participants for attending.
5. Develop a Risk Management Plan
The final part of the assessment task requires you to develop a risk management plan using the
Risk Management Plan Template.
Your risk management plan should include:
· The risks you have identified based on your research and brainstorming session. You
must include at least five risks.
· An assessment of the likelihood of the risk occurring, as well as the severity of the risk
should it occur.
· Identification of at least one suitable treatment measure for each of the five risks Priority
rating (high, medium or low) to show the order in which risks must be treated.
· A risk action plan that sets out for each risk including:
o Risk description
o Impact of risk
o Recommended actions
o Resource requirements
o Timelines
o Responsibilities
o Monitoring processes
6. Send an email to the CEO (your assessor).
The email text should include the following:
· Summary of the purpose of the Risk Management Plan
· An outline of the risks most likely to occur in relation to the business expansion project.
· Why you believe the identified treatment strategies for each of the risks will be effective in
ensuring risks are minimised or do not occur.
Attach your risk management plan to the email.

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Assessment Task 2: Risk Management Project

Carefully read the following:

1. Develop a risk briefing report.

Use the Risk Briefing Report Template to guide your work.

Your report should include the following:

· Introduction, including the purpose of the risk analysis

2. Send an email to the CEO (your assessor).

Attach your risk briefing report to the email.

3. Send an email to your team (your assessor).

The meeting is to run for approximately 30 minutes.

4. Conduct team meeting

Steer this discussion into a brainstorming session.

At the meeting, you are required to:

· Speaking clearly and concisely

· Using non-verbal communication to assist with understanding

· Asking questions to identify required information

· Responding to questions as required

· Using active listening techniques to confirm understanding

Close the meeting by thanking the participants for attending.

5. Develop a Risk Management Plan

Your risk management plan should include:

6. Send an email to the CEO (your assessor).

The email text should include the following:

· Summary of the purpose of the Risk Management Plan

Attach your risk management plan to the email.

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