- BSBRSK501B Manage risk
Assessment 2 – Case Study
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This is case study assessment that contains risk assessment issues that you need to address as outlined overleaf.
This assessment is one form of assessment type that is used to collect evidence and will count towards gaining competence toward this unit.
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As the General Manager of the OceanShores Group, you are constantly required to identify, assess and manage real and potential business risks.
Today your desk has on it:
1. An urgent advice from a credit card company about a team of con- artists who are targeting major hotels in a credit card scam. They have so far been able to fraudulently obtain $880,000 of credit and the last activity was in a nearby hotel
2. Two hours ago the kitchen served a meal containing peanut oil to a customer with a severe nut allergy, despite the wait staff having written the food allergy on the docket and telling the cooks about it when ordering the meal. The customer had to be rushed to hospital after exhibiting a severe anaphylactic reaction and is still in a serious condition
3. There is a transport strike called for tomorrow and, due to your city location, more than 75% of your workforce is public transport reliant
4. In today’s newspaper are reports of a major health issue in Asia which has immediately halted inbound tours from all major airports. It is likened in severity to a similar event 2 years ago which dropped your occupancy rate by 25% for 2 full months. You have already had bulk cancellations for
this week and the occupancy rate dropped by 22% overnight
5. A former employee who is now managing a nearby hotel has been systematically poaching key supervisors and successfully offering them employment. You also suspect that they have copied your database as they have been able to effectively target and win function bookings from your regular client base. The functions they are winning are ones held on a monthly basis that have been a mainstay of your functions revenue
6. You are seriously understaffed in the Bar department and have not been able to attract appropriate responses to the advertised positions for over three months.
Develop a risk management process for each scenario which could be, ultimately, used for future assessment of business risks as these may arise. The following aspects need to be included:
• Using a four stage hierarchical process, discuss how you would conduct today’s risk assessment and prioritise the management and minimisation of all these risks.
• Include at least 2 different techniques for assessing the above risks and document the processes you used for each risk scenario.
• Determine the risk level for each risk.
• Detail the contingency plans you would develop and who you would call upon to assist you to deal with all these issues in an effective and timely manner.
• Which legal aspects need to be considered or addressed?
• Which insurance options are there if any?
• Use or construct a risk management document to analyse the risks
• Identify the stakeholders which would be involved for each scenario
• Establish criteria for ranking the risks in order of importance
• Determine which risks must be treated immediately and which low-level risks can be monitored
• Assess the capabilities of the business for handling the risks
• Determine how to implement risk control measures for the identified risks
• Document the processes including provisions for communication and consultation
• Provisions for maintaining a risk register