This assessment is designed to assess your analytical skills in risk management. A case study will be given to you (unique to each student) for which you need to analyse the problem. There will be dat

Kalbarri Touring & Co. (KT &C) has been hosting national and international t ourists in Western Austr a lia in the last 12 years. KT&C is in par ticular very well known for their safari a nd bushwalking services . M anag ement of KT&C is investigating the recent changes in the industry as well as the re gulations (based on the bushfires and other environmental impac ts) in Australia to improve the se two servi ces . C reativity and D evelopme nt M anager of Kalbarri Touring & Co has been allocated to cr eate a list of all the potential ri sks of th is new proposal . P art ( a ) S uppos e that you are part of consultation team of the Creativity and Development Manager to categorise risks involved. M ake a r isk r egister f or this company and en sure to discuss about mitigation of all the ris ks found. Y ou need to discuss about four risks in this project ; two opportunities and two thre ats . Y ou can a lso review the existing literature to support your discussion. P art (b) KT&C has planned to design a new type of tent (to se l l under KT&C brand) for which y ou are hired as the project manager . B ased on your experience s, you are aware that you can buy the fabric used in this tent between $390 and $420 per tent, which follows the Uniform distribution. I t is also found that m etal of t his tent follows Normal distribution with mean value of $860 per tent and its standard deviation is $25. F urthermore , labour cost can be considered as a deci s ion variable as $235 per tent. All other costs, including preproduction marketing, are considered as $750,000 and also you have decide d to sell each tent for $2250 . Y ou need to employ Monte Carlo S imulat ion to simulate pote ntial profi t of this project. H owever, for this purpose, you need to know about demand . F or demand, you should consider the last four digits of your student ID number at the College . F or instance, if your ID number is 20190XXXX, then you should consider demand as XXXX. Illustrate your simulation result by running 1 0 0 trial simulations and then find maximu m, aver age and minimum profit. H ow to submit O ne si ngle MS E xcel file needs to be submitted f or this assignment. I n your file, you should have two different spreadsheets as bel o w : - O ne spreadsheet de dicated to Part (a) [including a report of 600 – 700 wor ds] - O ne spread sheet dedi cated to Part (b) [includ ing your Monte Carlo Simulation and its trials]