Risk Management

Performance objective

For this task you are required to determine the risk context associated with establishing a new business outlet, within the existing business structure. They will be required to review internal and external environment factors and liaise with all stakeholders to generate a list of risks.

Assessment description

For the case study provided with this Assessment Task, you are required to review risk management processes and determine scope and objectives, taking into account stakeholder input and both internal and external environmental factors affecting the organisation. With the information gathered, you are to identify risks and present this to relevant parties for feedback.

Procedure

For the provided case study, you will assume the role of the risk manager/assessor, and you are required to review the provided MacVille Risk Management Policy and complete a written report for your manager (your assessor) that addresses the following steps.

1. Scope – Identify the scope of risk management required in your identified role.

2. Goals – Identify and describe the critical success factors, goals or objectives for areas included in scope.

3. Stakeholders – Identify internal and external stakeholders, their role in the process, and any issues or concerns they have. Present this using the table format provided.

4. Analysis – Complete a PEST analysis and a SWOT analysis for risks associated with the scenario.

5. Research – Review and summarise the research information provided in the case study, as well as any literature available that is relevant to this scenario.

6. Describe – Complete the analysis of risk for the scenario by summarising the scenario and associated risks, accompanied by checklists, diagrams or flowcharts that support the summary.

After you have completed the above steps, you need to meet with your manager and discuss the draft report you have developed, especially your understanding of the critical success...