Recent Question/Assignment

Assessment Task 3 - Project
Assess risk and provide risk treatments
Assessment description
Using the risks identified in assessment task 1 for the simulated workplace, you are required to analyse the risks using risk analysis matrix, evaluate and prioritise risks, provide treatments to control risks, monitor and document risks on the risk register.
Performance objective
To test your ability to demonstrate the skills and knowledge required to:
1. consult and communicate with relevant stakeholders to identify and assess risks, determine appropriate risk treatment actions and priorities and explain the risk management processes,
2. develop and implement an action plan to treat risks,
3. monitor and evaluate the action plan and risk management process and
4. maintain documentation.
Assessment context
Review the risk management policy of the simulated workplace ‘Coffeeville’ and the scenario on the Appendix 1 and provide solutions to the tasks and activities in analyzing risks and selecting and implementing treatments of the risk management process for the simulated workplace.
Required resources
1. Assessment task, task instructions, task scenario (in appendix)
2. simulated workplace policies, procedures and relevant legislation, regulations, standards and codes
3. relevant workplace documentation and resources
4. case studies and, where possible, real situations
5. Computer with Internet access, software technology (MS Word/MS Excel etc.)
6. Table, chair and stationery.
Assessment instructions
1. Review the assessment task 1 solutions you have provided including risks you have identified using the case scenario, the simulated workplace documentation and the risk scope and the risk context you have established.
2. Review the “Risk Management Policy” of the simulated workplace on the appendix 1 of assessment task 1 or simulated workplace documentation.
3. Use word-processed computer software to complete this assessment.
4. You may use any learning materials, Internet, or books to complete this assessment task.
5. Complete the following assessment task activities during the allowed assessment time using the templates provided in Appendices.
6. The assessment task is due on the date specified by your assessor.
7. Any variations to this arrangement must be approved in writing by your assessor.
8. Submit your work with any required evidence attached.
9. See specifications above for details of submission requirements.
10. Time allowed for the assessment task is 4 hours.
Specifications to submit
You must submit risk management plan including risk analysis, risks treatments, risks documentation and storing, risks monitoring and evaluation using the templates provided in the Appendix.
When submitting your risk management plan, you need to ensure that you include:
1. risk analysis using risk matrix
2. risk evaluation and rating tables
3. your selection and implementation of risk treatments.
4. risk monitoring actions and evaluations
5. risk register
Assessment task activities
Your task
As you have completed the first stage of risk management “Review and understand the risk scope and context” for Coffeeville in your assessment task 1, you are now progressing to the next stage. During this stage, you are required to undertake the project of risk analysis, risk evaluation, prioritizing risks and providing risk treatments for the risks identified. You are also required to select and implement treatments, monitor and document risks by completing the following activities. Activity 1
Analyse the risks identified assessing likelihood of risks occurring and the impact or consequence if risks occur using risk analysis matrix template provided.
Activity 2
Based on your risk analysis and organizational requirements, evaluate and prioritise risks for treatment. Use the risk rating template and risk evaluation tables provided.
Activity 3
Select most appropriate risk controls/treatments, develop an action plan for implementing risk treatments and monitoring actions for the implementation of risk treatments. Use the risk treatment table provided in the appendix for this activity.
Activity 4
Record risks on the risk register and appropriately store the documentation.
Activity 5
Evaluate your risk management process in order to determine the effectiveness of risk management process and take corrective actions if required.
Your assessor will be looking for demonstration of your skills and evidence of the ability to:
1. consult and communicate with relevant stakeholders to identify and assess risks, determine appropriate risk treatment actions and priorities and explain the risk management processes
2. develop and implement an action plan to treat risks
3. monitor and evaluate the action plan and risk management process
4. maintain documentation.
Appendix 1
Document templates
Risk Quantification
Any risks identified should be quantified in terms of likelihood and possible consequences. (see Case Study) Qualitative measures of likelihood
Level Descriptor Example detail description
1 Rare May occur only in exceptional circumstances
2 Unlikely Could occur at some time
3 Possible Might occur at some time
4 Likely Will probably occur in most circumstances
5 Almost certain Is expected to occur in most circumstances
Qualitative measures of consequence/ impact*
Level Descriptor Example detail description
1 Insignificant Very low impact on objectives, No injuries; low financial loss
2 Minor First aid treatment; on-site release immediately contained; medium financial loss
3 Moderate Medical treatment required; on-site release contained with outside assistance; high financial loss
4 Major Extensive injuries; loss of production capability; off-site release with no detrimental effects; major financial loss
5 Catastrophic Death; toxic release off-site with detrimental effect; huge financial loss
Risk Analysis Matrix
Insignificant 2
Minor 3
Moderate 4
Major 5
1 (Rare) Very Low Risk Very Low Risk Low Risk Medium Risk Medium Risk
2 (Unlikely) Very Low Law
Risk Low Risk Low Risk Medium Risk Medium Risk
3 (Moderate) Low Risk Low Risk Medium Risk Medium Risk High Risk
4 (Likely) Medium Risk Medium Risk Medium Risk High Risk Very High Risk
5 (Almost certain) Medium Risk Medium Risk High Risk Very High Risk Very High Risk
Risk Rating Template
Description of Risk
Impact on the cafe (Identification of consequences) Likelihood Impact Risk rating/ Risk level
Risk Evaluation Table
Organisation/Department Risk Register ID
Date of Risk Assessment Risk Category
Risk Owner Risk Assessment Conducted By
Establish the Context R isk Description Effectiveness of Controls Evaluation Risk priority
Objective Risk Context Risk Source Description Current Control/s Control Rating Risk Rating
Risk Treatment Table
Risk Context Risk Risk rating (H, M, L) Risk controls Responsible person Timeframe Monitoring actions
Risk register
Description of Risk (including any identified ‘triggers’) Impact on Project
(Identify consequences) Change Date of Review Mitigation Actions
(Preventative or
Contingency) Responsibility for mitigation action(s) Cost Timeline for mitigation action(s)

Editable Microsoft Word Document
Word Count: 1142 words including References

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