BSBOPS501 - Assessment Task 1 Written Questions Template

 

Assessment Task 1 Instrucons Provide answers to all of the quesons below:

1.

Complete Complete the the table below below to de describ scribe e informati information on sou sources rces necess necessary ary when when planning planning for for resources. The first row has been completed as an example for you to follow. Information source

Description

Examples (provide 1)

Coll Co llea eagu gues es/E /Emp mplo loye yees es

Co Coll llea eagu gues es m may ay be be pa part rt o off the same team, or from another team.

Team member  CFO Manager of a different team

External consultants

Strategic plan

Budgets and forecasts

Legislation and regulatory authorities

Organisational policies and procedures

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2.

Complete Complete the the table below below to de describ scribe e the require requiremen ments ts for resour resources ces include included d in operatio operational nal plans: Resource Type

Description of the resources and 2 examples

Physical

How to acquire the resource How do you acquire physical resources and/or services?

What does a procurement process include (list at least four considerations)?

Relevant organisational policies and procedures (at least one):

Financial

What workplace documents provides information about financial resources? (describe at least one):

How does the budgeted and actual finances influence profitability and productivity of the operational plan?

Explain how to obtain additional finances:

Human

How do you recruit staff?

List at least two induction strategies:

Relevant organisational policies and procedures (at least one):

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3.

Explain the importance of budgetary control.

4.

Explain how a cost plan can assist in managing costs and its use over the project life cycle

5.

List two orga organisa nisation tional al poli policies cies an and d proc procedu edures res that that may app apply ly to cost managem management ent in relatio relation n projects and resources.

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6.

Explain Explain four pro procedu cedures res that a comp company any could could use to minimise minimise risk. risk.

7.

Explain Explain how legisla legislation tion an and d its relat related ed regu regulato latory ry requ requirem irements ents relate relate to risk manag manageme ement. nt. In your  answer: 

identify two different legislative and regulatory requirements that may apply to risk management.

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

for each legislative requirement, explain how it relates to risk management.



provide one example of how regulations support one of the legislation.

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8.

The broad broader er environ environmen mentt impac impacts ts on a busin business. ess. Pro Provide vide one one example example of how poten potential tial changes changes in government priorities can impact a business and the risk management strategies that can be put in place.

9.

Discuss Discuss the pur purpose pose of of risk man manage agemen mentt stand standards ards.. Include Include an exampl example e of a risk mana managem gement ent standard in your answer.

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