ILSC Business College: BSBMGT502 Assessment Version 2.0518 Page 10 of 25
IMPACTTRIVIALMINORMODERATEMAJOREXTREMEPROBABILITYRARELowLowmediumHighMediumUNLIKELYLowLowMediumMediumHighMODERATELowMediumMediumHighHighLIKELYMediumMediumMediumHighHighVERY LIKELYMediumMediumHighHighHighRISK MANAGEMENT ASSESSMENTRiskSeverityLikelihoodRisk RatingControl methodsDon’t speak about the conference outside the company with people who really don’t work thereHigh15%-30% ImprobableHighInformation could have thecompetitors -Sign a confidentiality clause-take a legal actionGiving information about the meetings or the clients and disclose personal data Major30%-50%PossibleMediumtake a legal actionInternal AuditDon’t achieve the goals that we have made at the beginning of the projectMinor<15%Low Performance evaluationsOral and written reportsRatio analysisInsufficient planning time High15%-30%Medium Statistical ControlBreak-Even AnalysisTask 5.Describe why each component of the performance management and review process below used in your department is important.ILSC Business College: BSBMGT502 Assessment Version 2.0518 Page 11 of 25
PERFORMANCE MANAGEMENT PROCESS (or SYSTEM)ProcessDescription (what is it aimed at)RecruitmentGood recruitment is vital for every organisation - finding the right people for the right roles at the right time. It ensures that the workforce has the relevant skills and abilities for the organisation's current and future needs. Effective resourcing is not just about filling an immediate vacancy but about having an impact on the long-term success of the business, using workforce planning data to understandwhat skills are needed for organisational performance.1Development/TrainingEnsures that knowledge andskillsstay relevant and up to date. It alsoallows employees to be more aware of changing trends and directions in bizOpsCoachingThe objective is to achieve effective results, motivate and satisfy employees, regardless of the position they have in the company. In the process of business coaching, the figure of the coach is also very important, as he is the leader and the one in charge of growth personal and professional of his team and himselfMonitoring/reviewIn our company we are monitoring the feedbacks from our customersand always improving day by day for our clients. Also, Monitoring andevaluation helps with identifying the most valuable and efficient use of resources2TerminationIt is important because you need to be focused if the employee’s performance below what Is required for the job or even if they are not achieve their goals. Task 7.Evaluate, rate and document Sharon’s performance results over her first three months using her position description, performance standards and measurements. You should also include the KPIs previously developed for her. You can take liberties here to assess her situation. Please not only mark her as Satisfactory or Unsatisfactory but also provide brief explanation.