Assessment Task 3
EVALUATION OF RISK MANAGEMENT PLAN a. Plan 1. Banking risk – – The staf member that complete the cash register balancing also complete the bank deposit orm and did the banking as well. The banking was not done every day and oten $4, was kept on the premises overnight in the cash register. There was no sae. There is a bank two shops away b!t the "!rley amily bank is a co!ple o blocks away and there was not always time to do the banking. Thereore, Thereore, company has made made a policy to bank every day and to eliminate the the need to carry overnight. 2. Lack o g!i"anc# $o s$a% $o co&'l#$# $(#ir )o* # there was no written policy and proced!res man!al, the manager !sed to set the policy and proced!res verbally and on the ew days each week he was in the store he wo!ld show the staf how to do things the way he wanted them done. Thereore, company planned to provide written man!al to employees. +. Us# o ,a$#r # The store c!rrently !ses 4,%lt a week in r!nning the dishwasher when only hal !ll. &ashing r!its and vegetables !nder a ast r!nning tap. Toilets all !sed the single '!sh system. (!al '!sh wo!ld cost abo!t $),% to !pgrade. The dishwasher was always set to !ll wash and had a &ater *+ciency abeling and -tandards -cheme &*-/ rating rating o 3. The more water e+cient %#0 star dishwashers cost abo!t $0, and above. 1ames e2plained that r. "!rley instr!cted the staf to keep the non#native 'owering plants in the co!rtyard !lly watered. Thereore, Thereore, store manager manager planned installing native plants to c!t down water !se. !se. nstall a water tank and red!ce dependence on co!ncil water. nstall d!al '!sh toilets. 5eplace the dishwasher with a %–0 stat &*-/ rating.
-. Manag#rs $ra/#l risk # The long drive rom Toowoomba to 6risbane wo!ld make attending the weekly managers meeting di+c!lt considering many meetings did not 7nish !ntil into the evening ater rereshments. There is also manager training sessions that need to complete over the ne2t 0 months in con8!nction with a ew other assistant managers. 9avigating the steep narrow climb !p the range with tr!cks blocking the way is :!ite di+c!lt even in daylight ho!rs. 6eing a competent driver yo! eel that it wo!ld be !nlikely that yo! wo!ld be involved in an accident, b!t it still concerns yo! considerably. -o, the manager has planned to install a broad band to attend meetings thro!gh video conerencing.
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Assessment Task 3
*. I&'l#n$a$ion0$(# s$#'s $ak#n $o &anag# $(# risks ar# . The 7nancial controller had taken o!t $%, on ins!rance cover or cash held on the premises overnight rom the opening week as planned. The company bank acco!nt that was planned to open in the 7rst week was opened abo!t 4 weeks ater opening at the bank two shops down the street. =. The employees are told abo!t their work verbally and the written policy and proced!res will be introd!ced soon. 3. The plants have been changed to natives that re:!ire minimal water as planned. The installation o d!al#'!sh toilets will be accomplished soon. The % star rated &*-/ dishwasher was installed by the s!pplier within the 0 months planned timetable. The training on the water saving processes as directed by the policy has been verbally e2plained. A water tank had been b!ilt in to the co!rtyard. 4. The teleconerencing system planned or 0 months ater settlement, has not yet been installed d!e in part to the delay in the >ederal ?overnment@s 9ational 6roadband 9etwork rollo!t. The weekly management meetings are 7nishing close to 3pm as planned.
c. O!$cos . The 7nancial controller had taken o!t $%, on ins!rance cover or cash held on the premises overnight rom the opening week as planned, b!t the ins!rance premi!m was $=,% per year and which is considered e2cessive by the 7nancial controller. The company bank acco!nt that was planned to open in the 7rst week was opened abo!t 4 weeks ater opening at the bank two shops down the street, b!t it is not acBille@s reg!lar bank and there are di+c!lties with getting the same level o service that the stores receive in 6risbane. =. The training on daily banking appears to have been s!ccess!lly completed as planned. An a!dit o the bank deposit book shows that on only two occasions in the past 0 months that there is not a banking entry or the day@s sales.
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Assessment Task 3
3. Altho!gh the training on the water saving processes as directed by the policy has been verbally e2plained and ollowed, the written proced!re has not been completed as the store@s manager claims to be too b!sy. A water tank had been b!ilt in to the co!rtyard b!t the pl!mbing has not yet been connected. There is a weekly water !sage monitor in the staf room as planned b!t the inormation has not been !pdated or the past three weeks. The plants have been changed to natives that re:!ire minimal water as planned. The installation o d!al#'!sh toilets were planned or completion 0 months ater settlement, and altho!gh the d!al '!sh toilets have been ordered and in stock, they cannot be installed d!e to the backlog o work by district pl!mbers. The % star rated &*-/ dishwasher was installed by the s!pplier within the 0 months planned timetable. 4. The teleconerencing system planned or 0 months ater settlement, has not yet been installed d!e in part to the delay in the >ederal ?overnment@s 9ational 6roadband 9etwork rollo!t. %. The weekly management meetings are 7nishing close to 3pm as planned b!t sometimes the manager has to stay on at the re:!est o the head o+ce team. The manager has not yet been iss!ed with an e2c!sal letter by the C*D as agreed !pon and eels that they do not have the a!thority to 8!st walk o!t at 3pm. The assistant management training has been shited to the mornings allowing the manager to leave beore pm as planned.
". E/al!a$ion risk
"#scri'$ion
anager@s travel risk
high
6anking risk
"igh
ack o
medi!m
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i&'l#n$a$i on nstallation o broad band or video conerencing to red!ce the risk o travelling mplement daily banking policy to avoid cases o thet
&ritten
o!$cos
O/#rall
&i#>i not installed yet
9ot satis7ed
*mployees handles cash obligation well and comply daily banking policy &ritten
satis7ed
9ot satis7ed
Assessment Task 3
g!idance to staf
Ese o water
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low
policies and proced!res available or employees nstallation o water tank and training to employees to the process o limited water !sage
and proced!re man!al is not provided &ater tank is installed b!t the training is not given yet
9ot satis7ed