Task Description

Develop a Risk Management Plan

Consider you or your group member’s current or previous workplace, or consult your trainer for
information and consider the college, then develop a risk management plan for your manager
(your assessor) in accordance with the Australian and New Zealand Risk management standards
(AS/ISO 310000:2018).

The report needs to be formatted with appropriate:

-Title Page
-Executive summary
-Table of contents
-Introduction
-Body of the report
-Conclusion
-Reference list
-Appendix

You must provide a written report titled ‘Risk Management Plan’ that outlines all of the
components below. Attach a copy of your report to this assessment tool upon submission.
Based on the information from the report, you need to create 8-10 PowerPoint slides and
present to your assessor & classmates. Please discuss the following points for the
presentation-

-Identify & discuss one particular risk

-Analyze risk
-Evaluate risk
-How to manage a particular risk
-Conclusion
Procedure:

1. Establish risk context:

a. Review organisational processes, procedures and requirements for undertaking risk

management in accordance with current risk management standards (ISO 310000:2018) of
your chosen organisation.

b. Give a description of your business including what type of business it is, what
goods/services it provides, where it is located and the number of employees.

c. Outline the critical success factors, goals and objectives for your business.

d. Identify all external and internal stakeholders.

e. Outline which staff members need to participate in the creation of the risk management
plan and who has to approve the plan in your business.

f. Conduct a PEST analysis.

g. Conduct a SWOT Analysis.

h. Conduct a meeting with relevant staff about the risk management process (See Appendix
1). Invite participants to assist in identifying risks and providing risk treatment options.

i. Prepare email for a Manager where you outline outcomes of the meeting and risk
management activities discussed. Provide recommendation/s on the best suitable risk
management option/s and explain rationale behind your choice of activity/activities.
Obtain approval for activity/activities from a Manager.
 2. Identify risks:

a. Conduct risk review and identify the external and internal risks for your business.
a. Explain the process for how you identify the different types of risks, including what type of
documents or stakeholders you gain information from.

3. Analyse and Evaluate risks:

a. Analyse and evaluate each risk in terms of the likelihood and consequences of a risk
occurring.

b. Define the level of risk and what it means in terms of managing the risk.
Explain the following:
i. the degree of control you have over the risk
ii. the potential losses which may arise from the risk
iii. the benefits and opportunities presented by the risk

c. Plot your risks on a risk assessment matrix, evaluate risk and prioritise risk for treatment
(See Appendix 2) Note: Risk with higher score have more priority

4. Manage the Risks:

a. Prepare a risk management action plan (See Appendix 3). Consider the following when you
develop the plan.
i. Using the hierarchy of control, identify options to treat the risk
ii. Select the best treatment option and explain your reasoning

b. Explain how you will implement your risk treatment plan.

c. Outline the documents that are required to be kept for the risk management plan and how
to ensure all documentation is in order and appropriately stored.
d. Outline the monitoring process your business will use to monitor the risk management plan.

e. Explain how you will evaluate the risk management processes of your business.

5. Communicate the plan:

After you have completed the above steps, communicate a risk management plan to your
organisation by submitting your report to the relevant stakeholders. Draft a communication
email and attach it to this communication tool.
Sample communication plan

The following table outlines a sample plan for communicating the key messages about your
smoke-free worksite policy.

A range of parties may be interested in your policy change, and you will need to determine:

 who they are

 what to tell them
 how to tell them
 who is going to tell them
 when to tell them

An example for contractors is given in the first row of the table, with further example groups
listed in the first column. Add or remove as necessary.

Deadline
Target Communication
Key messages: :
audience: methods: Who is Date
What do we By when
Who do How are we responsible for complete
want to tell does this
we want going to tell doing it? d
them? need to
to inform? them?
happen?
Example:  We want to  Letter to  Debbie – Site  31
Contractor promote manager/CEO Manager Marc
s the health of each h
and contracting 2018
wellbeing organisation
 of our staff  Notice on  John – IT  15
and visitors website Manager April
 Our 2015
worksite  Signage  Charlie –  30
will be erected at Maintenanc April
smoke free gate e foreman 2018
from 30  Article in  Alice – Public  3 May
June 2012 external Relations 2018
 Contractor newsletters Manager
s visiting  Advertisemen  Alice – Public  15
the site will t in local Relations June
not be paper Manager 2018
permitted
to smoke
on the
premises
after this
date

Employees

Customers

Visitors

General
public
 Appendix 1 - Meeting minutes

Meeting minutes

Location: [Address or room number]

Date: [Date]

Time: [Time]

Attendees: [List attendees]

Agenda items
1. Discuss current risk management process of your chosen organization

2. Identify and list the risks for your chosen organization.

Action items Person responsible Date Discussion and

points
1)The risk management [Name(s) 1] [Date 1] [discussion and
process of your chosen points about risk
organisation management
process]
Action items Person responsible Date Discussion and
points

2) Discussion on risks [Discussion on

identification risks identification]

Approval of Manager
(Your Assessor)

Appendix 2- Risk matrix

Refer to Risk matrix

CONSEQUENCE
LIKELIHOOD Insignificant Minor (2) Moderate (3) Major (4) Extreme/
(1) Catastrophic
(5)
Rare (1) Low Low Low Low Low
Unlikely (2) Low Low Low Medium Medium
Possible (3) Low Low Medium Medium Medium
Likely (4) Low Medium Medium High High
Almost certain Low Medium Medium High Extreme
(5)
 Consequence

Extreme/
Insignificant Minor Moderate Major
Catastrophic

Almost Certain

Likely
Likelihood

Possible

Unlikely

Rare

Risk Register
Score as follows; for Likelihood and Impact:
Select Rating between 1 - 5 where: 1= Very Low, 5= Very high
1– Rare, Insignificant 2- Unlikely, Minor 3- Possible, Moderate 4 Likely, Major 5- Almost
Certain- Extreme
Likelihoo
Likelihood Impact dx Who will
Nature of risk or High/ High/ Impact Risk Mitigation take
uncertainty Medium/ Medium/ (Rating Strategy responsibili
Low Low priority ty
Score)
Identify risk Rate the Rate the State description
likelihood likelihood of resolution
and and techniques -
conseque conseque transfer, avoid,
nce nce accept or
mitigate the
negative risks
and enhance,
share, accept –
positive risks
.
 Risk Register
Score as follows; for Likelihood and Impact:
Select Rating between 1 - 5 where: 1= Very Low, 5= Very high
1– Rare, Insignificant 2- Unlikely, Minor 3- Possible, Moderate 4 Likely, Major 5- Almost
Certain- Extreme
Likelihoo
Likelihood Impact dx Who will
Nature of risk or High/ High/ Impact Risk Mitigation take
uncertainty Medium/ Medium/ (Rating Strategy responsibili
Low Low priority ty
Score)

Appendix 3- Risk management action plan