Contingency Plan 1

_____________________________________________________________________________________________________________________________ King Edward VII College Contingency Plan The contingency planning process will be used by the management team to ensure that we plan for contingencies related to meeting the goals of the operational plan. It will be done so in the form of a risk management plan with the risks specifically related to the goals of the operational plan. Definitions The following definitions are based on the Australian and New Zealand Risk Management Standard AS/NZS 4360:2004. Risk The chance of something happening which will have an impact upon objectives. It is measured in terms of consequence and likelihood. Likelihood A qualitative description or synonym for probability or frequency. Consequence The outcome of an event or situation, expressed qualitatively or quantitatively, being a loss, injury, disadvantage or gain. There may be a range of possible outcomes associated with an event. Risk assessment The overall process of risk analysis and risk evaluation. Risk treatment/control methods Selection and implementation of appropriate options for dealing with risk. Conceptually, treatment options will involve one or a combination of the following five strategies:  Avoid the risk.  Reduce the likelihood of occurrence.  Reduce the consequences of occurrence.  Transfer the risk.  Retain/accept the risk. Risk management process The systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risk. ___________________________________________________________________________________________________________________ BSBMGT517 : Contingency Plan Version: 1.0 Version Date: 12 July 2021 Next Review: 12 July 2022 Approved by: Academic Manager 1 | P a g e ABN: 57 169 281 501 E: admissions@sydneymetrocollege.edu.au W: www.sydneymetrocollege.edu.au Sydney ( Head Office ): Level 2, 16-22 Wentworth Avenue Surry Hills NSW 2010 T: 02 8937 0991 Melbourne: Level 2, 213-215 Lonsdale Street, Melbourne VIC 3000 T: 03 0 9077 0758

_____________________________________________________________________________________________________________________________ Risk Assessment (revised) Risk Consequences Risk Rating Contingency Person Responsible Priority Rating Monitoring Process Delays in securing suitable locations in Brisbane and Sydney. - Missed campus launch dates. - Disruption of planned activities. High Contingency: Establish temporary classrooms or utilize shared office spaces while waiting for permanent locations. - Identify potential temporary locations. - Communicate with stakeholders about the delay and relocation plan. Operations and Finance Manager High Monitor progress in location acquisition, and take immediate action in case of delays. Difficulty in recruiting receptionists and student services officers. - Reduced campus services. - Increased workload for existing staff. Medium Contingency: Implement cross- training for Melbourne staff to fill temporary gaps. - Create a cross-training program. - Assign mentors for Melbourne staff involved in new campus operations. HR Manager Medium Track recruitment progress and adjust timelines as needed. Poor performance of marketing campaigns and low student enrollments. - Financial strain due to under- enrollment. - Delayed return on investment. High Contingency: Allocate additional marketing resources and adjust campaign strategies. - Allocate additional budget for marketing. - Revise campaign strategies based on performance data. Marketing Manager High Monitor campaign performance regularly and implement changes as necessary. Procurement delays or issues with necessary classroom resources. - Disrupted educational activities. - Incomplete setup of classrooms. Medium Contingency: Identify backup suppliers and expedited procurement options. - Create a list of backup suppliers. - Establish expedited procurement agreements. - Communicate Operations and Finance Manager Medium Monitor the procurement process closely, have alternatives in place, and communicate potential delays. ___________________________________________________________________________________________________________________ BSBMGT517 : Contingency Plan Version: 1.0 Version Date: 12 July 2021 Next Review: 12 July 2022 Approved by: Academic Manager 2 | P a g e ABN: 57 169 281 501 E: admissions@sydneymetrocollege.edu.au W: www.sydneymetrocollege.edu.au Sydney ( Head Office ): Level 2, 16-22 Wentworth Avenue Surry Hills NSW 2010 T: 02 8937 0991 Melbourne: Level 2, 213-215 Lonsdale Street, Melbourne VIC 3000 T: 03 0 9077 0758