This activity will enable you to demonstrate the following performance evidence: Lead at least one risk management process for an organisation or work area. In the course of the above, the candidate must: Analyse information from a range of sources to identify the scope and context of the risk management process, including: o stakeholder analysis political, economic, social, legal, technological and policy context current arrangements objectives and critical success factors for the area including scope risks that may apply to scope Consult and communicate with stakeholders to identify and assess risks, determine appropriate risk treatment actions and priorities and explain the risk management processes Develop and implement an action plan to treat risks Monitor and evaluate the action plan and risk management process Maintain documentation. Category Business Risks Risk - what and how can it happen A possible risk for a business is that they could face financial difficulties. This could happen if the business is not making enough profit, if they are overspending, or if they are not efficient in their operations. Consequence If a business faces financial difficulties, this could lead to the business having to cut costs, lay off staff, or even close down. Risk Register Likelihood Likely Existing Controls Level of Risk Risk Priority Businesses have financial planning and control measures in place Moderate Medium Workplace health and safety Wet and greasy floor in the kitchen food preparation and clean up areas Slip and fall resulting in Very likely injury Signage- warning about wet Very high High floor 2. This activity requires observation. As a roleplay activity, you must lead a business meeting with a small group of your peers who will play the role of relevant stakeholders, and present the action plan your developed in Question 1. During the meeting with the stakeholders, you must: Demonstrate that you have planned and developed a risk management action plan that you can share with the relevant stakeholders Demonstrate that you have planned and developed concise content that is appropriate and relevant Demonstrate that you have followed any relevant organisational and legislative requirements. During the meeting, you should work in collaboration with your peers, use problem-solving skills to negotiate and resolve any risk challenges that are identified, and acknowledge stakeholder input if necessary. Your meeting should be no longer than 15 minutes. The Assessor Observation Report will outline the criteria you will be assessed on. 1. To complete the following activities, you should choose and refer to a risk that could occur in your industry. You are required to prepare to lead a business meeting with relevant stakeholders. To plan for this meeting, you must prepare a risk treatment action plan to demonstrate that you are able to take the appropriate action when treating 2 business risk using the templates provided When preparing your risk treatment action plan, you must: Outline the risks selected Determine the overall objective Outline tasks required to treat the risk List the resources you will require Determine an appropriate timeframe List the people who will be responsible or involved. a) Complete the Risk Register Template b) Complete the Risk Treatment Schedule and Plan