Report Topic
Producing a report and accompanying pilot RISK MANAGEMENT SYSTEM, for crown hotel & casino Melbourne Australia
Students will be guided with regard to the RISK MANAGEMENT SYSTEM, as each business will have different requirements, therefore the types of risk tools (risk matrix, staff schedules, risk implementation schedule) will vary.
Scope of the Report
The business owners have asked you to investigate their business from a risk context, write a report and present a pilot risk management system for discussion. The report must be in five parts.
Part 1. Reporting on the business (Establish the Context)
Background analysis of the enterprise including the following items:
A). An introduction and brief description of the business including its main functions, whether a product or service enterprise
B). The stakeholder relationships of the business (this must be shown in a model or diagram format emphasising primary, secondary or tertiary levels – or other stakeholder structure e.g. near/far, major/minor, internal/external, key/peripheral) and with an accompanying brief description of the model and with clear labels and titles shown on the diagram or model
Part 2. A). Describe and evaluate the risk environment of the business. Ensure that you clearly: identify the key risks you think pertain to that business (this will be further outlined in Part 2. 2-5; show how they are currently managed (where possible); discuss the benefits and/or limitations of the current risk system used by the business (if applied).
B). Reporting on the risk "readiness" and culture of the tourism or hospitality business and recommending change, or not, within a risk management strategy outlook – Report Recommendations.
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Part 3. RISK MANAGEMENT SYSTEM
Based on your findings of the business, produce a pilot risk management system that adopts the following risk management model as its key strategy for identifying, analysing, controlling and monitoring risk for the enterprise.
(Risk Matrix Model in seperate document)
The above model contains seven (7) main areas that need to be included in your risk management system. The seven are:
1). Establish the context – as discussed in Part 1 and Part 2.
2). Identify risks – list no less than 20 using a “RISK MATRIX”
3). Analyse risks – using a “RISK MATRIX”
4). Evaluate risks – using a “RISK MATRIX”
5). Treat risks – using a “RISK MATRIX”
6). Monitor and review – outline a timetable for how the risk management system will be achieved (given the nature of the enterprise) and what it will comprise, i.e. the process involved and how this will be measured (Part 2. 6).). This is a “what, when” time-line.
7). Communicate and consult – describe how this will be implemented and what types of benchmarks, goals and objectives are appropriate for this business. List who should be involved, when and how often they should meet and define how “continuous improvement” will be incorporated into the risk management system. Normally this part is comprised of a committee or “risk team” that needs to be led by a risk manager or risk “champion” who drives the risk management system – you will need to define and list who and what this is (Part 2. 7).).
Students are expected to implement an excellent risk matrix that is both systematic and comprehensive in scope – a large number of business risks identified and managed and an excellent risk Management system that is comprehensively addresses required tools and processes outlined in the report scope. It needs to be very manageable and in all areas practical and would theoretically meet cost and implementation concerns effectively
Part 4. Legal implications for the business. You will need to identify and analyse some of the enterprise?s key statutory compliance obligations – at least six (6). In this section, in order to show your depth of knowledge of these legal responsibilities, you will need to analyse the relevant and significant provisions of one (1) key piece of legislation in depth.
Students are expected to present excellent identification and analysis. Also, comprehensive and accurate analysis of significant legislative provisions of chosen statute
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