Professional Documents
Culture Documents
BSBWOR501A
Contents
Risk 1 - Banking risk theft of cash left on premises ............................................................................. 2
Risk 2 - Managers travel risk physical injury ....................................................................................... 2
Risk 3 - By-law Compliance risk reputation/brand loss and fines ........................................................ 3
Risk 4 Competition ............................................................................................................................... 4
Risk 5 Unprotected computer system.................................................................................................. 4
Risk 6 Broken objects ........................................................................................................................... 5
Likelihood Table ...................................................................................................................................... 6
Consequence Table ................................................................................................................................. 6
Risk Magnitude Table.............................................................................................................................. 7
Priority level table ................................................................................................................................... 7
Risk Management Plan ........................................................................................................................... 8
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BSBWOR501A
Buy and install a safe with a timing mechanism which allows only the managers or higher
authority to access the safe and only at certain times. This allows employees to count their
money at the end of the night and drop it off in the safe where it will be protected until it
needs to be banked the following day. Proper onsite training will need to happen to ensure
the employees know how the system works and when they are supposed to bank and drop
money into the safe
Swap banks to a closer bank which will allow for more frequent and later drop offs
Install security such as protective shutters, alarms and cameras. In the case someone does
manage to break in, then there would be footage of the crime allowing for correct
procedures of insurance and police involvement to ensure no money is lost
Considering the other risks that are involved with the opening of the new store, this problem should
be fixed within the first 3 months of the opening. In addition, insurance should be looked at for
items in the store that might be broken or stolen during the case of a robbery
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BSBWOR501A
A car crash is very hard to avoid when driving with the amount of factors that come into play, but
these options will help with solving that problem. If the teleconferencing system option is chosen, it
should be sorted out within the first month of opening the new caf.
Introduce new processes on water use and conservation. This could include this such as how
much water to use for certain tasks and when it should be done
This water compliance risk is one where significant time and resources are required to ensure that
any fine which would arise from this issue is avoided. The council has sent out water patrols to
monitor the water use of business which means being discovered of over-water usage is very likely.
As long as the suggestions are followed and completed within the first two weeks of the store
opening, then there should be no problem.
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BSBWOR501A
Risk 4 Competition
The new MacVille Caf being opened on two main corners in the Toowoomba CBD has the potential
to have lots of business from the community considering the great spot its placed in. But with all its
potential, there is currently a risk of competition moving in. Recently large international coffee shop
chains have been making enquiries to opening a store in the Toowoomba CBD area.
Considering the type of location and the growing population of Toowoomba, the likelihood of
competition moving in is almost certain. This is considered a major risk because of the chance that
the community will want to go to the big brand name stores that I have all heard of before.
To help with the risk of competition, I have come up with a few ideas to help counter these
problems:
Have excellent customer service which will want the customer coming back for more
Excellent product range with great taste which will help keep the customer coming back
Better advertising then the competition
Great deals and discounts for customers
Excellent store environment to show that the store isnt dirty or unhygienic
These are just a few options to help but can have a big impact on the community if done properly. It
will take time for the restaurant chains to move in, so in that time MacVille should work on these
methods for the store and have them up and running within the first 3 months to ensure the
community has a great opinion about the caf.
Buy a new computer system which includes better connectivity and easy access to the
MacVille cloud terminal to easily store employee information without risk of an
unauthorised person accessing it
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BSBWOR501A
Password protect the computer and relevant areas so only the managers and other
authorised personal can access the computer
There arent that many options to help prevent this issue, but the issue is easily prevented by both
or either option. This risk should be sorted out within the first week of the store opening, although
the risk is high, it wont take long to prevent it.
Throw out all of the old tables and chairs and replace them with new ones
Replace the worn out carpet with new carpet
These options are very straight forward and will solve the problem if followed through. Injury of the
customer will not help the reputation of the store and will also financially damage the company,
which is why this problem needs to be sorted out prior to the opening week of the store.
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BSBWOR501A
Likelihood Table
Determine likelihood of risks identified. Use the following table to determine appropriate
level 1, 2, 3, 4, or 5
Level
1
Descriptor
Almost certain
Likely
Possible
Unlikely
Rare
Description
The event is expected to occur in
most circumstances (many times
a day)
The event will probably occur in
most circumstances
The event might occur at some
time
The event could occur at some
time
The event may occur only in
exceptional circumstances
Consequence Table
Level
Descriptor
Injury
Financial loss
Insignificant
No injuries
Minor
Moderate
First aid
treatment
Medical
treatment
required
Negligible
financial cost
Low financial
loss
Medium
financial loss
Major
Extensive
injuries
Catastrophic
Death
Operational
Efficiency
Little impact
Inconvenient
delays
Significant
delays in major
deliverables
High financial
loss
Nonachievement of
major
deliverables
Major
financial loss
Non
achievement of
major key
objectives
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BSBWOR501A
Consequence
Likelihood
1(Almost
Certain)
2 (Likely)
3 ( Moderate)
4 (Unlikely)
5 (Rare)
Insignificant
1
S
Minor
2
S
Moderate
3
H
Major
4
H
Catastrophic
5
H
M
L
L
L
S
M
L
L
S
S
M
M
H
H
S
S
H
H
H
S
The risk priority level is determined by considering the priority criteria in column 1 and
finding the corresponding risk priority level in column 2.
M = Medium Priority
S = Significant Priority
H = High Priority
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BSBWOR501A
Risk Statement
Likelihood
Consequence
Risk Magnitude
Priority
Responsibility
Timeline
Banking risk
Unlikely
Minor
Low Risk
Low Priority
Alex Brun/financial
controller
First 3 months
Unlikely
Catastrophic
High Risk
High Priority
First Month
Likely
Moderate
Significant Risk
Significant Priority
Competition
Almost Certain
Major
High Risk
High Priority
Alex Brun/financial
controller
First 3 months
Unprotected computer
system
Unlikely
Moderate
Moderate Risk
Medium Priority
Alex Brun/financial
controller
Broken objects
Likely
Major
High Risk
High Priority
Alex Brun/financial
controller
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