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Unit of competency details

BSBOPS302 - Identify business risk (Release 1)

Summary

Usage recommendation:
Current
Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 19/Oct/2020


Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080399 Business And Management, N.e.c.  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080399 Business And Management, N.e.c.  17/Dec/2020 
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Unit Of competency

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Application

This unit describes the skills and knowledge required to contribute to business operations through the identification of business risk. It involves identifying business risks, as well as supporting managers and supervisors in mitigating risk.

The unit applies to those required to contribute to the identification of business risks as part of broader responsibilities.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Sector

Business Competence – Business Operations

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1.Establish business risk

1.1 Identify potential business risks according to task requirements

1.2 Assess organisational policies and procedures for addressing risks

1.3 Identify organisational personnel involved in addressing relevant risk types

2. Mitigate business risk

2.1 Analyse potential consequences for organisation of identified risks

2.2 Address risks according to organisational policies and procedures, escalating, where required

2.3 Document steps to mitigate identified risks according to organisational policies and procedures

3. Finalise resolution of business risk

3.1 Confirm steps taken with relevant organisational personnel

3.2 Seek feedback on response with relevant organisational personnel

3.3 Contribute to identifying ways to minimise future risk in consultation with relevant organisational personnel

Foundation Skills

This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.

Skill 

Description 

Reading

  • Interprets and identifies from risk legislation, workplace policy and procedure and records

Writing

  • Uses formats and language appropriate to audience

Initiative and enterprise

  • Follows legal and regulatory responsibilities and organisational policies and procedures in relation to risk mitigation role

Teamwork

  • Shares relevant information and resources with organisational personnel

Planning and organising

  • Plans and implements tasks to achieve required outcomes
  • Uses formal decision-making processes, gathering information and identifying and evaluating choices against risk management processes

Technology

  • Uses technology to access and filter data and then extract, organise, integrate and share information

Unit Mapping Information

No equivalent unit. New unit.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • identify and resolve two different business risks.

In the course of the above, the candidate must:

  • identify business risk and organisational policies and procedures for addressing identified risk
  • analyse potential impact of risk for business and address risk according to organisational policies and procedures
  • document risk mitigation processes taken according to organisational policies and procedures
  • confirm and seek feedback on risk mitigation methods
  • participate in discussions to minimise future risks in consultation with relevant personnel.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • types of business risks including:
  • strategic risks
  • compliance risks
  • financial risks
  • operational risks
  • common sources of business risk
  • techniques to manage business risks applicable to the industry
  • functions and content of organisational risk management plan
  • organisational policies and procedures for risk identification and mitigation.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • relevant legislation, regulations and standards relevant to business risks
  • workplace documentation and resources for business risks.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10