TASK

You are to select two agricultural or horticultural enterprises (e.g. wheat, canola, cotton, beef, wool, stone fruit, vegetables, wine grapes etc) and nominate a location so that you can complete the following tasks for your consultancy client: 

1. Collect and statistically analyse an annual time-series (for at least 10 years) of national price (monthly or quarterly - not yearly) and production data (annual) for each enterprise (useful sources are ABARES Commodity Statistics) ;

2. Using the price and production data collected as well as information on current and future market influences from ABARES and peak organisations, derive and explain a future (10 years) time-series of commodity prices for each enterprise (present them in graphical form in the report with supporting data provided in an Excel spread sheet).  Note future projections should take into account expected market changes.;

3. In a table for each enterprise:

o identify and assess all strategic, compliance, operational or reputational risks and the cause of the risk

o calculate the approximate financial impact of those risks (supporting data provided in an Excel spread sheet)

o Assess the significance of the risk using the risk matrix

Note you may need to research district mean or median production and environmental data for your chosen location;

4. In another table for each enterprise Identify and discuss all possible risk management strategies for the three (3) highest priority risks plus one (1) medium risk and one (1) low risk.

5. Select and explain the most effective strategy for the three (3) highest priority risks including contingency and crisis response plans.  Estimate the financial outcomes of implementation.