Coffeeville Risk Analysis
INTRODUCTION
A discussion of the Lakes Entrance CoffeeVille Risk Analysis will be tackled on this paper. This will be a report on the risk analysis conducted after thorough research from the beginning of this project.
SCOPE OF THE REPORT
The scope of this Risk Analysis Report is to examine the likelihood and all the possible consequences of the risks identified by using all the information gathered through research in Assessment Task 1, as well as the given simulated business information provided on this task. This report shows the risks identified according to priority and urgency. It also includes different options that are carefully picked and assessed according to how much it would most address the risk identified.
This Risk Analysis …show more content…
RISK CONCERN DISCUSSION/ TIMELINE LIKELIHOOD CONSEQUENCE RISK LEVEL
1 BY-LAWS Fines- would increase organisational expenditure Develop new policies on water-use. Install water tank and change equipment to 6 star (WELS) rating. This should be addressed within opening week LIKELY MODERATE HIGH
2 BANKING RISK Theft Create a company policy ensuring that banking is done everyday.
Switch to a bank closest to the cafe. This should be done before the opening week- pre settlement POSSIBLE MINOR MODERATE
3 BRAND RECOGNITION Loss of brand recognition Create policies that employees must strictly follow, regarding uniform use, as well as the carrying-out of rules, and guidelines of CoffeeVille’s processes and service expectations. This will be ensured to be operation from opening week until within three months. UNLIKELY MINOR LOW
4 TRAVEL RISK Physical injury due to travel accidents UNLIKELY FATAL
A discussion of the Lakes Entrance CoffeeVille Risk Analysis will be tackled on this paper. This will be a report on the risk analysis conducted after thorough research from the beginning of this project.
SCOPE OF THE REPORT
The scope of this Risk Analysis Report is to examine the likelihood and all the possible consequences of the risks identified by using all the information gathered through research in Assessment Task 1, as well as the given simulated business information provided on this task. This report shows the risks identified according to priority and urgency. It also includes different options that are carefully picked and assessed according to how much it would most address the risk identified.
This Risk Analysis …show more content…
RISK CONCERN DISCUSSION/ TIMELINE LIKELIHOOD CONSEQUENCE RISK LEVEL
1 BY-LAWS Fines- would increase organisational expenditure Develop new policies on water-use. Install water tank and change equipment to 6 star (WELS) rating. This should be addressed within opening week LIKELY MODERATE HIGH
2 BANKING RISK Theft Create a company policy ensuring that banking is done everyday.
Switch to a bank closest to the cafe. This should be done before the opening week- pre settlement POSSIBLE MINOR MODERATE
3 BRAND RECOGNITION Loss of brand recognition Create policies that employees must strictly follow, regarding uniform use, as well as the carrying-out of rules, and guidelines of CoffeeVille’s processes and service expectations. This will be ensured to be operation from opening week until within three months. UNLIKELY MINOR LOW
4 TRAVEL RISK Physical injury due to travel accidents UNLIKELY FATAL