Bsbrsk501 manage risk assessment task 1

International Institute of Business & Information Technology

ASSESSMENT 2

Qualification Code / Name:

BSB61015 ADVANCED DIPLOMA OF LEADERSHIP AND MANAGEMENT

Competency Code / Unit(s):

BSBFIM601 Manage finances

Student's full legal name: name:

Student ID:

Assessor’s name:

Structured Activities: Assessment Task 2

PLANNING PROJECT

Assessors must explain the assessments to the students prior to the students commencing their assessment tasks.

ASSESSMENT INSTRUCTIONS

Context

Purpose of this assessment is to assess skills and knowledge required to undertake budgeting, financial forecasting and reporting and to allocate and manage resources to achieve the required outputs for the business unit. It includes contributing to financial bids and estimates, allocating funds, managing budgets and reporting on financial activity.

This assessment takes place in International Institute of Business and Information Technology (IIBIT) campus.

The following factors must be observed during assessment – please follow WHS instructions given by your trainer and ones put on the wall. This assessment is due when you are instructed by your trainer.

Procedure

· Read all questions carefully

· Provide the answer to all questions

· Attach evidence documents to this tool

· Ensure your assessor has acknowledged the receipt of the evidence by signing next to “assessor acknowledgement of receipt” section of marking guide.

· Please ensure to keep electronic copies of evidence submitted until you complete your qualification.

Instructions to the students

It is important that you read each question carefully and provide detailed answers for each tasks. You can research the answers using your workbook or on the internet, however, your answers must be in your own words.

Assessment Overview

Purpose of Assessment:

This is a Summative Assessment designed to provide evidence of the student’s ability to:

Performance Evidence:

· plan for financial management

· read and review profit and loss statements, cash flows and aging summaries

· prepare, implement and revise a budget which aligns with the business plan, is based on research and analysis of previous financial data and cash flow trends, and meets all compliance requirements

· contribute to financial bids and estimates

· establish a budget and allocate funds in accordance with statutory and organisational requirements

· communicate with other people including:

· reporting on financial activity and making recommendations

· identifying and prioritising significant issues

· ensuring managers and supervisors are clear about budgets

It covers the content of the Learner Guide: BSBFIM601 Manage finances. Comprehensive mapping of key components of task to Unit of Competency is included in the Unit Mapping Guide for BSBFIM601 Manage finances.

Target Group:

The target group is international students undertaking BSB61015 ADVANCED DIPLOMA OF LEADERSHIP AND MANAGEMENT.

Response Format:

(may tick more than one item)

( Oral Response

( Written Response

( Performance/Demonstration

☐Create Output

☐ Other (please specify)

Assessment Conditions:

Location

☐ In-Class: Exam Conditions

( In-Class: Supervised

( In-Class: Unsupervised

☐ Workplace: IIBIT Observed

☐ Workplace: Third Party Observation

☐ Other (please specify)

Assessment Conditions Specified by the Assessment Requirements

( Access to resources, such as:

· common office equipment, technology, software and consumables

· current financial services industry economic literature and research

( Access to case-studies, or where possible, real situations

( Access to the opportunity to interact with others

Your trainer can assist you to have access to any of the above documents

Time Restrictions

The time allocated for the completion of this assessment item is end of Week 8.

Restrictions on the administration of the assessment item

( No restrictions; assigned member of teaching staff may administer

☐ There are specific assessor qualifications/and or training required

Material/Resources Required:

· Units of Competence

· Learner guides

· Trainers presentation materials

· Aids and materials defined by the assessment conditions (refer to separate inventory and session plans)

· Guidance notes

Assessor Intervention:

Prior to the assessments, the learners will be orientated to the assessment environment. Learners will be familiarized with:

· the equipment available,

· the Assessment environment

· the location of commonly used equipment

· the facility-specific policies that may impact on the assessment

· Software required

· Submission procedure

Candidates are allowed to ask questions about any aspects of the assessment environment. The assessors use the full description of the marking criteria to determine whether a performance indicator was demonstrated. An Assessor will speak with the candidate at any time during the Assessment to manage any risks or reasonable adjustments.

Reasonable Adjustments:

The types of reasonable adjustment permitted for this assessment item should not affect the standard of skills required in the workplace. Examples of reasonable adjustments in assessments may cover the following;

Teaching Tools & Environment

· substitute alternative tasks

· note-taking support

· Present information in a range of media

· adapt the physical environment and equipment, for example, audio-visual aids, specific furniture

· ergonomic chair/desk

Learning Materials

· course material in alternate formats—electronic, large print, braille

Assessments

· Extend or modify timeframes for assessment.

· use of laptop for assessments

· alternate assessment tasks

· Use oral assessments ( presentations, recorded responses, and telephone sessions) as alternatives to written tasks

· Provide sufficient feedback on the progress of individual learners regarding their learning goals. (Note that IIBIT cannot Substitute English to assess the learner.).Please refer Reasonable Adjustment guidelines more details.

Instructions for Task 2

PLANNING PROJECT

Complete part A and then Part B of this assessment task.

PART A: ANALYSE FINANCES AND PREPARE BUDGETS

Grow Management Consultants is a consultancy business specialising in leadership consultancy and has been operational for the last five years. The company offers a range of services to assist companies to assess leadership behaviour of existing managers and performance metrics and to design and implement customised leadership programs based on the assessment. Services are offered Australia-wide.

The company employs a General Manager (you), 2 Principal Consultants (who are also Directors), 1 Senior Consultant, an Administration Officer and Receptionist.

Over the last two years, the company has diversified and offers regular professional development workshops on all aspects of leading and managing staff. These workshops are conducted approximately every 3 months in all major cities including Sydney, Brisbane and Melbourne. In 2014 – 2015, the company ran a total of 36 workshops. The company has also recently produced an E-book about leadership techniques.

The intention is to replace the workshops with the annual conference in the next financial year as the workshops were not well attended and client feedback indicates a personalised, company focused approach in the form of consulting services is the service of choice.

The E-book has had reasonable sales but there needs to be a wider selection of books, as well as more marketing. The plan is to generate $10,000 worth of sales for the e-books during the next financial year and increasing over time.