Assessment Task 3 – ProjectAssess risk and provide risk treatmentsSUBMISSION…

Recent Question/Assignment Assessment Task 3 - ProjectAssess risk and provide risk treatmentsSUBMISSION DETAILSSTUDENT NAMESTUDENT ID GROUP NO.DATE OF SUBMISSION PLACE OFASSESSMENTAssessment descriptionUsing the risks identified…

Recent Question/Assignment Assessment Task 3 – ProjectAssess risk and provide risk treatmentsSUBMISSION DETAILSSTUDENT NAMESTUDENT ID GROUP NO.DATE OF SUBMISSION PLACE OFASSESSMENTAssessment descriptionUsing 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 objectiveTo 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 and4. maintain documentation.Assessment contextReview 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 resources1. Assessment task, task instructions, task scenario (in appendix)2. simulated workplace policies, procedures and relevant legislation, regulations, standards and codes3. relevant workplace documentation and resources4. case studies and, where possible, real situations5. Computer with Internet access, software technology (MS Word/MS Excel etc.)6. Table, chair and stationery.Assessment instructions1. 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 submitYou 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 matrix2. risk evaluation and rating tables3. your selection and implementation of risk treatments.4. risk monitoring actions and evaluations5. risk registerAssessment task activitiesYour taskAs 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 1Analyse the risks identified assessing likelihood of risks occurring and the impact or consequence if risks occur using risk analysis matrix template provided.Activity 2Based on your risk analysis and organizational requirements, evaluate and prioritise risks for treatment. Use the risk rating template and risk evaluation tables provided.Activity 3Select 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 4Record risks on the risk register and appropriately store the documentation.Activity 5Evaluate 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 processes2. develop and implement an action plan to treat risks3. monitor and evaluate the action plan and risk management process4. maintain documentation.Appendix 1Document templatesRisk QuantificationAny risks identified should be quantified in terms of likelihood and possible consequences. (see Case Study) Qualitative measures of likelihoodLevel Descriptor Example detail description1 Rare May occur only in exceptional circumstances2 Unlikely Could occur at some time3 Possible Might occur at some time4 Likely Will probably occur in most circumstances5 Almost certain Is expected to occur in most circumstancesQualitative measures of consequence/ impact*Level Descriptor Example detail description1 Insignificant Very low impact on objectives, No injuries; low financial loss2 Minor First aid treatment; on-site release immediately contained; medium financial loss3 Moderate Medical treatment required; on-site release contained with outside assistance; high financial loss4 Major Extensive injuries; loss of production capability; off-site release with no detrimental effects; major financial loss5 Catastrophic Death; toxic release off-site with detrimental effect; huge financial lossRisk Analysis MatrixConsequences1Insignificant 2Minor 3Moderate 4Major 5Catastrophic1 (Rare) Very Low Risk Very Low Risk Low Risk Medium Risk Medium Risk2 (Unlikely) Very Low LawRisk Low Risk Low Risk Medium Risk Medium Risk3 (Moderate) Low Risk Low Risk Medium Risk Medium Risk High Risk4 (Likely) Medium Risk Medium Risk Medium Risk High Risk Very High Risk5 (Almost certain) Medium Risk Medium Risk High Risk Very High Risk Very High RiskRisk Rating TemplateDescription of RiskImpact on the cafe (Identification of consequences) Likelihood Impact Risk rating/ Risk levelRisk Evaluation TableOrganisation/Department Risk Register IDDate of Risk Assessment Risk CategoryRisk Owner Risk Assessment Conducted ByEstablish the Context R isk Description Effectiveness of Controls Evaluation Risk priorityOrganizationalObjective Risk Context Risk Source Description Current Control/s Control Rating Risk RatingRisk Treatment TableRisk Context Risk Risk rating (H, M, L) Risk controls Responsible person Timeframe Monitoring actionsRisk registerDescription of Risk (including any identified ‘triggers’) Impact on Project(Identify consequences) Change Date of Review Mitigation Actions(Preventative orContingency) Responsibility for mitigation action(s) Cost Timeline for mitigation action(s) Let’s block ads! (Why?)

Do you need any assistance with this question? Send us your paper details now We’ll find the best professional writer for you!

 

error: Content is protected !!