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.
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 Form
• You 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.
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