Instruction : Develop a Monitor and Review Plan using the template in the Assessment Templates document to inform stakeholders about how risks and treatments will be monitored and reviewed. Your plan should outline the following:

Best practice methods

Existing controls and the process for managing their implementation.

Recommendations on continuous improvement methods

Risk Treatment Plan Template

Ref.	The risk in priority order from Risk Register	Possible treatment options Avoid, reduce, transfer or accept the risks.	Preferred option	Risk treatment action	Strengths	Weaknesses	Timetable to implement	How will risk and treatment option be monitored?
R01.	Five key suppliers of our top-selling range of products have received global condemnation.	Avoid	Develop a quality regulatory protocol	The business provides its customers with high quality and innovative products and services.	Customers try to use our products again	Hard to rebuild customer's trust	To be applied in within 2 weeks	Create surveys to collect feedback
R02.	Australian consumers are spending less and there are also rumours of government tax increases.	Reduce	Propose new price.	Develop new products and marketing.	Follow up in the search for new products that adapt to the clients economy	Customers need always change	After meeting in 1 month	Feedback form marketing and meeting minute.
R03.	Staff morale has dropped. There are many conflicts between staff, and complaints about hours worked and lack of training	Avoid	Staffs training and hire new staff	Understand the conflict. Encourage an open discussion between employees involved in the dispute.	Staffs more relax at work and work less hours	Some staff are quiet when we have staff meetings so we can't know what they want.	After meeting in 1 week	Feed back from HR and employees.
R04.	There's been an increase in complaints from customers about online purchasing system problems.	Reduce	Developing contingency plans to find IT suppliers.	Collaborate with new and trusted suppliers	New and trusted associates can bring innovative products and rebuild customer's trust	Requires close and constant monitoring activity	To be applied in within 1 month	Closely monitor every order Check customers feedbacks .
R05	Information systems and warehousing/logistics systems are more than 10 years old	Reduce	Developing contingency plans to find IT suppliers.	hire IT professional to set up new system for this then our system will be more accurate and precise	Have better systems	It to old system have to update new one also need to training new system for staffs.	1 month for setting new system	IT department have to update system every 3 months.

Part 3, Step 3

Monitor and Review Plan Template

How will you monitor and review the plan? Complete the table using the risks you identified above Consider best practice monitoring and evaluation methods and provide recommendations.

RISK IDENTIFICATION	RISK MONITORING AND REVIEW
Event	Method	Progress and Compliance Reporting
Add your Identified risks from Part table above These maybe categorised into risk areas.	What method will you use to monitor the risk event	Allocate timeframe of expected progress if the plan is 12 months from the current date.

Outline of the monitoring and review process:

Monitoring:

Outline the monitoring process and methods

Evaluation and review:

Explain the evaluation and review process.