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Unit of competency details

BSBRSK401 - Identify risk and apply risk management processes (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to BSBOPS403 - Apply business risk management processes 18/Oct/2020
Supersedes and is equivalent to BSBRSK401A - Identify risk and apply risk management processesUpdated to meet Standards for Training Packages 24/Mar/2015

Releases:
ReleaseRelease date
1 1 (this release) 25/Mar/2015


Training packages that include this unit

CodeSort Table listing Training packages that include this unit by the Code columnTitleSort Table listing Training packages that include this unit by the Title columnRelease
CHC - Community ServicesCommunity Services 2.0-5.0 
AUM - Automotive ManufacturingAutomotive Manufacturing 2.0 
SFI - Seafood IndustrySeafood Industry 1.0-2.0 
FBP - Food, Beverage and PharmaceuticalFood, Beverage and Pharmaceutical 2.0-5.2 
MSF - Furnishing Training PackageFurnishing Training Package 4.0-5.0 
PPM - Pulp & Paper Manufacturing Industry Training PackagePulp & Paper Manufacturing Industry Training Package 1.0-2.0 
FNS - Financial Services Training PackageFinancial Services Training Package 1.0-6.2 
FWP - Forest and Wood Products Training PackageForest and Wood Products Training Package 2.0-5.0 
TLI - Transport and Logistics Training PackageTransport and Logistics Training Package 1.0-9.0 
AHC - Agriculture, Horticulture and Conservation and Land Management Training PackageAgriculture, Horticulture and Conservation and Land Management Training Package 1.0-6.2 
MSS - SustainabilitySustainability 1.0-4.1 
CSC - Correctional Services Training PackageCorrectional Services Training Package 1.0-4.0 
DEF - Defence Training PackageDefence Training Package 1.0-3.0 
CUA - Creative Arts and Culture Training PackageCreative Arts and Culture Training Package 2.0-4.1 
CPP - Property Services Training PackageProperty Services Training Package 9.0-14.0 
SIS - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 1.0-4.1 
BSB - Business Services Training PackageBusiness Services Training Package 1.0-6.1 
HLT - HealthHealth 3.0-6.1 

Qualifications that include this unit

CodeSort Table listing Qualifications that include this unit by the Code columnTitleSort Table listing Qualifications that include this unit by the Title columnRelease
FNS50315 - Diploma of Finance and Mortgage Broking ManagementDiploma of Finance and Mortgage Broking Management1-5 
BSB40515 - Certificate IV in Business AdministrationCertificate IV in Business Administration1-3 
BSB40115 - Certificate IV in AdvertisingCertificate IV in Advertising
TLI50319 - Diploma of Deployment LogisticsDiploma of Deployment Logistics
SFI40319 - Certificate IV in Fisheries ComplianceCertificate IV in Fisheries Compliance
TLI50615 - Diploma of Rail Operations ManagementDiploma of Rail Operations Management1-2 
PPM40116 - Certificate IV in Pulping OperationsCertificate IV in Pulping Operations1-2 
AUM40113 - Certificate IV in Automotive ManufacturingCertificate IV in Automotive Manufacturing
HLT45015 - Certificate IV in Dental AssistingCertificate IV in Dental Assisting
AHC40716 - Certificate IV in Retail NurseryCertificate IV in Retail Nursery1-4 
MSS40118 - Certificate IV in Sustainable OperationsCertificate IV in Sustainable Operations1-4 
PPM40216 - Certificate IV in Papermaking OperationsCertificate IV in Papermaking Operations1-2 
BSB41715 - Certificate IV in RecordkeepingCertificate IV in Recordkeeping1-3 
SIS31015 - Certificate III in Aquatics and Community RecreationCertificate III in Aquatics and Community Recreation1-2 
BSB41615 - Certificate IV in PurchasingCertificate IV in Purchasing1-2 
SIS40115 - Certificate IV in Sport and RecreationCertificate IV in Sport and Recreation1-2 
PPM30116 - Certificate III in Pulping OperationsCertificate III in Pulping Operations1-2 
SIS40319 - Certificate IV in Sport CoachingCertificate IV in Sport Coaching
SFI40119 - Certificate IV in AquacultureCertificate IV in Aquaculture
FNS41815 - Certificate IV in Financial ServicesCertificate IV in Financial Services1-5 
FNS42215 - Certificate IV in Personal Trust AdministrationCertificate IV in Personal Trust Administration1-4 
TLI41715 - Certificate IV in Stevedoring OperationsCertificate IV in Stevedoring Operations
BSB40215 - Certificate IV in BusinessCertificate IV in Business1-4 
AHC40219 - Certificate IV in Protected HorticultureCertificate IV in Protected Horticulture
TLI40419 - Certificate IV in Stevedoring OperationsCertificate IV in Stevedoring Operations
FNS41315 - Certificate IV in Personal Trust AdministrationCertificate IV in Personal Trust Administration1-3 
AHC41416 - Certificate IV in Seed ProductionCertificate IV in Seed Production1-4 
FWP40216 - Certificate IV in Timber ProcessingCertificate IV in Timber Processing1-3 
BSB42315 - Certificate IV in Environmental Management and SustainabilityCertificate IV in Environmental Management and Sustainability1-3 
SIS30315 - Certificate III in FitnessCertificate III in Fitness
TLI50618 - Diploma of Rail Operations ManagementDiploma of Rail Operations Management1-2 
FWP40116 - Certificate IV in Forest OperationsCertificate IV in Forest Operations
TLI40115 - Certificate IV in Rail Safety InvestigationCertificate IV in Rail Safety Investigation1-3 
CHC41115 - Certificate IV in Employment ServicesCertificate IV in Employment Services1-2 
AHC40616 - Certificate IV in Production NurseryCertificate IV in Production Nursery1-3 
SIS30519 - Certificate III in Sport CoachingCertificate III in Sport Coaching
MSF40418 - Certificate IV in Glass and GlazingCertificate IV in Glass and Glazing1-2 
AHC41019 - Certificate IV in AgribusinessCertificate IV in Agribusiness
TLI41515 - Certificate IV in Materiel LogisticsCertificate IV in Materiel Logistics1-2 
TLI42315 - Certificate IV in Rail InfrastructureCertificate IV in Rail Infrastructure1-2 
MSS40116 - Certificate IV in Sustainable OperationsCertificate IV in Sustainable Operations
DEF51115 - Diploma of LeadershipDiploma of Leadership1-2 
CPP41319 - Certificate IV in Swimming Pool and Spa ServiceCertificate IV in Swimming Pool and Spa Service1-2 
CSC50115 - Diploma of Correctional AdministrationDiploma of Correctional Administration1-3 
BSB41015 - Certificate IV in Human ResourcesCertificate IV in Human Resources1-4 
CUA40915 - Certificate IV in Music IndustryCertificate IV in Music Industry1-3 
TLI40319 - Certificate IV in LogisticsCertificate IV in Logistics
CUA41215 - Certificate IV in Screen and MediaCertificate IV in Screen and Media
FNS50815 - Diploma of Integrated Risk ManagementDiploma of Integrated Risk Management1-3 
AHC41616 - Certificate IV in Organic FarmingCertificate IV in Organic Farming1-5 
FNS60820 - Advanced Diploma of Integrated Risk ManagementAdvanced Diploma of Integrated Risk Management
BSB40715 - Certificate IV in FranchisingCertificate IV in Franchising1-3 
SFI40219 - Certificate IV in Seafood Post Harvest OperationsCertificate IV in Seafood Post Harvest Operations
TLI50515 - Diploma of Deployment LogisticsDiploma of Deployment Logistics1-2 
CPP41119 - Certificate IV in Home Energy Efficiency and SustainabilityCertificate IV in Home Energy Efficiency and Sustainability1-2 
FBP40318 - Certificate IV in Food ProcessingCertificate IV in Food Processing
AHC41016 - Certificate IV in AgribusinessCertificate IV in Agribusiness1-3 
TLI42016 - Certificate IV in LogisticsCertificate IV in Logistics1-3 
BSB41115 - Certificate IV in International TradeCertificate IV in International Trade1-3 
BSB41315 - Certificate IV in MarketingCertificate IV in Marketing
FNS41820 - Certificate IV in Financial ServicesCertificate IV in Financial Services
CSC40115 - Certificate IV in Correctional PracticeCertificate IV in Correctional Practice1-3 
FNS41115 - Certificate IV in Financial Markets OperationsCertificate IV in Financial Markets Operations1-2 
TLI50419 - Diploma of Materiel LogisticsDiploma of Materiel Logistics
TLI50215 - Diploma of Materiel LogisticsDiploma of Materiel Logistics1-2 
BSB40915 - Certificate IV in GovernanceCertificate IV in Governance1-2 
BSB42015 - Certificate IV in Leadership and ManagementCertificate IV in Leadership and Management1-5 
TLI40118 - Certificate IV in Transport SchedulingCertificate IV in Transport Scheduling1-3 
AHC40116 - Certificate IV in AgricultureCertificate IV in Agriculture1-6 
SIS30419 - Certificate III in Sport - AthleteCertificate III in Sport - Athlete
BSB41618 - Certificate IV in Business (Procurement)Certificate IV in Business (Procurement)1-2 
SIS40419 - Certificate IV in Sport DevelopmentCertificate IV in Sport Development
TLI42415 - Certificate IV in Rail Safety ManagementCertificate IV in Rail Safety Management1-4 
CHC44015 - Certificate IV in Coordination of volunteer programsCertificate IV in Coordination of volunteer programs
PPM30216 - Certificate III in Papermaking OperationsCertificate III in Papermaking Operations1-2 
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Accredited courses that have this unit in the completion mapping

CodeSort Table listing Accredited courses that have this unit in the completion mapping by the Code columnTitleSort Table listing Accredited courses that have this unit in the completion mapping by the Title column
10709NAT - Certificate IV in Tropical BiosecurityCertificate IV in Tropical Biosecurity 
10070NAT - Diploma of Equitation ScienceDiploma of Equitation Science 
10665NAT - Certificate IV in Payroll AdministrationCertificate IV in Payroll Administration 
10877NAT - Graduate Certificate in Blood ManagementGraduate Certificate in Blood Management 
10654NAT - Certificate IV in Elite Athlete Wellbeing ManagementCertificate IV in Elite Athlete Wellbeing Management 
10862NAT - Certificate IV in Risk Management EssentialsCertificate IV in Risk Management Essentials 
10808NAT - Certificate IV in Work Skills for Career Enhancement and ManagementCertificate IV in Work Skills for Career Enhancement and Management 
10844NAT - Diploma of Agritourism OperationsDiploma of Agritourism Operations 
22306VIC - Certificate IV in Musical Instrument Making and RepairCertificate IV in Musical Instrument Making and Repair 
10131NAT - Certificate IV in Compliance and Risk ManagementCertificate IV in Compliance and Risk Management 
10036NAT - Diploma of Ministry (Insert Stream)Diploma of Ministry (Insert Stream) 
10573NAT - Certificate IV in MinistryCertificate IV in Ministry 
10181NAT - Diploma of Hyperbaric Operations (Insert Specialisation)Diploma of Hyperbaric Operations (Insert Specialisation) 
10549NAT - Certificate IV in Risk Management EssentialsCertificate IV in Risk Management Essentials 
22564VIC - Certificate IV in Musical Instrument Making and RepairCertificate IV in Musical Instrument Making and Repair 

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  30/Jul/2015 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Application

This unit describes the skills and knowledge required to identify risks and to apply established risk management processes to a defined area of operations that are within the responsibilities and obligations of the role.

It applies to individuals with a broad knowledge of risk analysis or project management who contribute well developed skills in creating solutions to unpredictable problems through analysis and evaluation of information from a variety of sources. They may have responsibility to provide guidance or to delegate aspects of these tasks to others.

In this unit, risks applicable within own work responsibilities and area of operation, may include projects being undertaken individually or by a team, or operations within a section of the organisation.

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

Unit Sector

Regulation, Licensing and Risk – Risk Management

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. Identify risks

1.1 Identify the context for risk management

1.2 Identify risks using tools, ensuring all reasonable steps have been taken to identify all risks

1.3 Document identified risks in accordance with relevant policies, procedures, legislation and standards

2. Analyse and evaluate risks

2.1 Analyse and document risks in consultation with relevant stakeholders

2.2 Undertake risk categorisation and determine level of risk

2.3 Document analysis processes and outcomes

3. Treat risks

3.1 Determine appropriate control measures for risks and assess for strengths and weaknesses

3.2 Identify control measures for all risks

3.3 Refer risks relevant to whole of organisation or having an impact beyond own work responsibilities and area of operation to others as per established policies and procedures

3.4 Choose and implement control measures for own area of operation and/or responsibilities

3.5 Prepare and implement treatment plans

4. Monitor and review effectiveness of risk treatment/s

4.1 Regularly review implemented treatment/s against measures of success

4.2 Use review results to improve the treatment of risks

4.3 Provide assistance to auditing risk in own area of operation

4.4 Monitor and review management of risk in own area of operation

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance 

Criteria 

Description 

Reading

1.2

  • Comprehends documents and texts of varying complexity to extract and analyse relevant information

Writing

1.3, 2.1, 2.3, 3.5

  • Uses specific, industry related terminology and logical organisational structure in workplace documents that identify and analyse risk and report management process outcomes

Oral communication

2.1

  • Participates effectively in interactions with stakeholders by using questioning and listening to elicit opinions and clarify understanding

Numeracy

1.2, 4.1

  • Uses numerical tools to assess risk and uses numerical data to review plans

Navigate the world of work

1.1, 1.3, 3.3

  • Complies with organisational and legislative requirements
  • Takes responsibility for identification and management of risk within own work context and refers matters to others as required

Interact with others

2.1

  • Selects appropriate communication protocols and conventions when conferring with others to establish risk management requirements

Get the work done

1.1, 1.2, 2.1, 2.2, 3.1, 3.2, 3.4, 3.5, 4.1, 4.2, 4.3, 4.4

  • Determines job sequence and works logically and systematically to undertake defined tasks
  • Uses analysis and consultative processes to inform decisions about selection and implementation of risk control measures
  • Evaluates effectiveness of plans and results to inform improvement decisions
  • Uses familiar digital technologies and systems to access information, prepare plans and communicate with others

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBRSK401 Identify risk and apply risk management processes

BSBRSK401A Identify risk and apply risk management processes

Updated to meet Standards for Training Packages

Equivalent unit

Links

Companion Volume implementation guides are found in 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 1.0.

Performance Evidence

Evidence of the ability to apply organisational policies, procedures and processes to:

  • identify risks
  • consult with relevant stakeholders to analyse and evaluate risks
  • identify and evaluate control measures
  • develop and implement treatment plans for own area or responsibility
  • refer risks that are beyond own area of responsibility to others
  • maintain risk management documentation.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • outline techniques for identifying and evaluating risks
  • outline organisational policies, procedures or processes for risk management
  • give examples of areas where risks are commonly identified in an organisation
  • outline the purpose and key elements of current risk management standards
  • outline the legislative and regulatory context of the organisation in relation to risk management
  • describe the organisation's auditing requirements relating to risk management.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the regulation, licensing and risk - risk management field of work and include access to:

  • relevant legislation, regulations, standards and codes
  • relevant workplace documentation and resources
  • case studies and, where possible, real situations
  • interaction with others.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10