Risk management plan for I.T corporation that does web site hosting and training
BSBRSK501: Assessment 1
What you have to do
For this assignment you will need to prepare a risk management plan for your organisation or for some other organisation from which you can obtain relevant information.
Please use the template attached for each task.
Explain the consultation and communication activities that you will undertake as part of the planning process. You must include a stakeholder analysis in relation to risk in your organisation.
Establish, Identify and Analyse Risks
Review organisational processes, procedures and requirements. Analyse and assess the risks for your organisation. Apply the current risk management standards and processes to outline risk management for your organisation. Ensure you include the following:
a) Establish the risk context (PESTEL analysis)
b) Risk identification (SWOT analysis, ten risks must be identified)
c) Analyse and evaluate the ten risks, outline the likelihood of each risk to occur, and prioritise the risks. Include a risk matrix.
Develop a Risk Register
a) Outline the ten risks and levels of control in the risk register part a template. You can create your own risk reference code unique to each risk e.g. a marketing risk may be given the risk reference code of MARK001.
b) Determine and select the most appropriate actions for treating the ten risks, develop an action plan in risk register part b to be implemented to treat the risks, if the risks were to occur. Discuss and evaluate the action plan and ongoing monitoring and communication of the risk management process.
â€¢ Answered all questions in the template provided
â€¢ Included a bibliography
â€¢ Included my name, student number, unit number, assessment number
â€¢ Reviewed and spell checked my document
â€¢ Saved a copy on my own computer.
[Pick the date]
Risk Management Assessment
BSBRSK501 â€“ Assessment 1
Risk Management Plan
Replace this text with your Overview. Give a broad overview and description of the companyâ€™s business, number of employees, geographical location, and any other pertinent details. (100 words)
1. Consultation and Communication
Using the table, list key stakeholders for the organisation (and their job roles or titles), they may be responsible for management decisions, organisational structures and are impacted by risk or responsible for risk in the organisation. Also include stakeholders that are external to the organisation that you believe should be listed. (Add additional rows to the table if needed.)
An option may be to present your stakeholders in the following table. (Add additional rows to the table if needed.) [Then delete the suggested italics text so that only the table remains.]
Stakeholder Role Stakeholderâ€™s agenda for Risks
e.g. Describe the stakeholder group e.g. Describe the role that this group has with the organisation e.g. what influences this stakeholder â€“ a Finance Directorâ€™s agenda is to increase profit margin
Explain the consultation and methods of communication that you will undertake as part of the planning process (100-200 words).
2. Establish, Identify and Analyse Risks
Review organisational processes, procedures and requirements. Analyse and assess the risks for your organisation. Apply the current risk management standards and processes to outline risk management for your organisation.
2a. Establish the Context and Identify Risks
Start with completing a PESTEL analysis to understand the MACRO environment. This assists to uncover different risks that can affect the organisation (Remember this assessment must not be limited to WHS risks). For more information: http://www.mindtools.com/pages/article/newTMC_09.htm
e.g. Discuss how a change in government may affect specific factors
e.g. IT issues
Economic Environmental factors
e.g. Drop in Australian Dollar outline what this will affect
e.g. weather what impact does this have
Social issues Legislation
e.g. trends, culture, customer needs
e.g. laws affecting the organisation
2b. Risk Identification
Discuss here what methods you will use to identify risks. Complete a SWOT analysis for your organisation to help you to identify internal and external risk factors. (150 â€“ 200 words)
e.g. Brand reputation, reliable staff
e.g. Bureaucratic style of management
e.g. New product launch, expansion
Discuss the risks that you have identified through your PESTEL analysis, SWOT analysis and the other methods you have used (200 words).
2c. Risk Analysis, Evaluation and Prioritisation
Analyse and evaluate ten risks, outline the likelihood of each risk to occur, and prioritise the risks. Include a risk matrix template from your notes. (Please attach the risk matrix template in your appendix).
3. Develop a Risk Register Plan
a. Outline the ten risks and levels of control in the risk register template Part A. You can create your own risk reference code unique to each risk e.g. a marketing risk may be given the risk reference code of MARK001.
c. Determine and select the most appropriate actions for treating the ten risks, develop an action plan in template Part B to be implemented to treat the risks, if the risks were to occur. Discuss and evaluate the action plan and ongoing monitoring and communication of the risk management process.
Here you will include how you will resolve the risks according to the risk management hierarchy of control. Ensure you include strategies to monitor your risk treatments and a timetable for scheduling risk management activities.
Risk Register Part A. Risk register: (Name of organisation)
Function (activity e.g. department): Compiled by: Date:
Date of risk review: Reviewed by: Date:
Risk Reference (unique identifier code)
What is the risk?
What can happen?
How can it happen?
What can happen?
(Consequences/level of impact)
Current control strategies
I (Inadequate) Current risk level analysis
Risk priority (refer to risk matrix and attach matrix in appendix) Acceptability of Risk
A (Acceptable) or
Yes or No
Likelihood Consequences Level
Risk Register Part B. Risk register: (Name of organisation)
Risk Reference (unique identifier code) Potential treatment options
Person responsible for monitoring the risk Cost to implement risk treatment Time frame to implement treatment Monitors to measure the effectiveness of the risk treatments Treatment of Risk Complete
Yes or No
List the full URLs of the websites or documents you have used in your research.
Use Harvard style referencing e.g.
Queensland Government: Business and industry portal, Preparing a risk management plan and business impact analysis, viewed 3/2/15, https://www.business.qld.gov.au/business/running/risk-management/risk-management-plan-business-impact-analysis
Insert your risk matrix here
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