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Assessment 3: Risk Assessment Report.FormatIndividual ReportDue Date / Time24th

Assessment 3: Risk Assessment Report.FormatIndividual ReportDue Date / Time24th January 2021, 23:00Weighting50%Length2,500 words, not including Assignment Cover Sheet, Title page, References, nor the Venue Condition Assessment (VCA) Form.This assignment requires you to consider the risks to physical, non-physical, financial and human assets (detailed individually at your venue). It assesses the learning in Topics 6 – 10. The assessment should be written in an Executive Report format and there are two main parts in the body of this assessment. The selected venue needs to be in the same town as the campus at which you are studying (except for online students). Unless you have the express permission of your tutor and/or the Unit Assessor, the venue MUST NOT be in country other than Australia.Part One: The notion of Risk (1,000 – 1,500 words)Using the concepts and theory discussed in the readings and the study guide, critically evaluate the concept of “Risk”. For instance, what is it? What is subject to risk? Why is it considered essential for a hospitality business to implement a risk management process? Part Two: Venue Risk Analysis (1,000 – 1,500 words)This section requires you to demonstrate your understanding of how to practically apply a risk management process by conducting a risk assessment of a venue. It is suggested you use the venue selected for Assessments 1 and 2. There are two critical components to this part;A Risk Ranking System – this is the “how” risks will be assessed.
A Venue Risk Analysis (VRA) form – this the tool used to measure risk.
Venue Risk Analysis FormYou need to create a form using a table format or excel spreadsheet.
The left hand side should display a menu of identified risks. A standard of 9-12 risks should be identified, covering the range of asset types.
The horizontal banner should categorize the different measures of Risk, according to one of the models you have already evaluated.
NB: The words “assessment” and “analysis” are used interchangeably and, for the purpose of the report and explaining the process of identifying and measuring risk, the two words are considered to have the same meaning.This assessment task must be in a business report format, and include detailed recommendations as well as an executive summary. Your report must include recommendations that are succinct, yet provide enough details for management to act.Suggested structure:Cover sheet with name and student IDExecutive SummaryTOCThe Notion of RiskDefinition of Risk
Subjects of Risk
Risk Management
The Importance of Risk Management
Venue Risk AnalysisThe Risk Rating System
Venue VRA
Findings
Recommendations
Reference ListAppendices
Requirements: .doc file