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Unit of competency details

BSBRSK401A - Identify risk and apply risk management processes (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Is superseded by and equivalent to BSBRSK401 - Identify risk and apply risk management processesUpdated to meet Standards for Training Packages 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 01/Sep/2008

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
AUM - Automotive ManufacturingAutomotive Manufacturing 1.0 
FPI11 - Forest and Forest Products Training PackageForest and Forest Products Training Package 1.0-2.3 
FNS10 - Financial Services Training PackageFinancial Services Training Package 1.0-5.1 
PSP12 - Public Sector Training PackagePublic Sector Training Package 1.0 
MSS11 - Sustainability Training PackageSustainability Training Package 1.0-3.0 
SIS10 - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 2.0-3.1 
CPP07 - Property Services Training PackageProperty Services Training Package 11.0-14.6 
BSB07 - Business Services Training PackageBusiness Services Training Package 5.0-9.0 
FPP10 - Pulp & Paper Manufacturing Industry Training PackagePulp & Paper Manufacturing Industry Training Package 1.0-1.3 
CHC08 - Community Services Training PackageCommunity Services Training Package 3.0-4.2 
AUM12 - Automotive ManufacturingAutomotive Manufacturing 1.0 
CSC07 - Correctional Services Training PackageCorrectional Services Training Package 1.2 
PSP04 - Public Sector Training PackagePublic Sector Training Package 4.1-4.2 
DEF - Defence Training PackageDefence Training Package 1.0-3.0 
FPI05 - Forest and Forest Products Training PackageForest and Forest Products Training Package 3.0 
CUS09 - MusicMusic 1.1-1.2 
AUM08 - Automotive ManufacturingAutomotive Manufacturing 1.1 
CSC12 - Correctional Services Training PackageCorrectional Services Training Package 1.0-1.1 
DEF12 - Defence Training PackageDefence Training Package 2.0 
AHC10 - Agriculture, Horticulture and Conservation and Land ManagementAgriculture, Horticulture and Conservation and Land Management 2.0-8.0 
AVI08 - Aviation Training PackageAviation Training Package 5.0 
SFI11 - Seafood Industry Training PackageSeafood Industry Training Package 1.0-2.2 
TLI10 - TRANSPORT AND LOGISTICS TRAINING PACKAGETRANSPORT AND LOGISTICS TRAINING PACKAGE 1.0-4.2 
LMT07 - Textiles, Clothing and Footwear Training PackageTextiles, Clothing and Footwear Training Package 3.1-4.1 
HLT07 - Health Training PackageHealth Training Package 4.0-5.1 
RGR08 - Racing Training PackageRacing Training Package 1.0-1.1,2.0 
CUF07 - Screen and Media Training PackageScreen and Media Training Package 1.2 

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
SFI30311 - Certificate III in Seafood Industry (Environmental Management Support)Certificate III in Seafood Industry (Environmental Management Support)1-5 
AVI30713 - Certificate III in Aviation (Aerodrome Operations)Certificate III in Aviation (Aerodrome Operations)
PSP52312 - Diploma of TranslatingDiploma of Translating
PSP52410 - Diploma of InterpretingDiploma of Interpreting1-2 
AUM40113 - Certificate IV in Automotive ManufacturingCertificate IV in Automotive Manufacturing
LMT60507 - Advanced Diploma of Fashion and Textiles MerchandisingAdvanced Diploma of Fashion and Textiles Merchandising1-2 
BSB40212 - Certificate IV in BusinessCertificate IV in Business1-2 
LMT41207 - Certificate IV in Fashion and Textiles MerchandisingCertificate IV in Fashion and Textiles Merchandising1-2 
RGR40508 - Certificate IV in Racing Services (Racing Administration)Certificate IV in Racing Services (Racing Administration)1-3 
AUM40112 - Certificate IV in Automotive ManufacturingCertificate IV in Automotive Manufacturing
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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
10035NAT - Certificate IV in Ministry (Insert Stream)Certificate IV in Ministry (Insert Stream) 
10420NAT - Certificate IV in Stress Management PractitionerCertificate IV in Stress Management Practitioner 
10549NAT - Certificate IV in Risk Management EssentialsCertificate IV in Risk Management Essentials 
10047NAT - Certificate IV in Payroll AdministrationCertificate IV in Payroll Administration 
10016NAT - Certificate IV in Leadership (Insert Stream)Certificate IV in Leadership (Insert Stream) 
21786VIC - Certificate IV in Sustainable Environment PracticesCertificate IV in Sustainable Environment Practices 
21959VIC - Certificate IV in Fire TechnologyCertificate IV in Fire Technology 
52564WA - Course in Strategies for Successful Governance of Not For Profit Community Services OrganisationsCourse in Strategies for Successful Governance of Not For Profit Community Services Organisations 
10488NAT - Diploma of Professional Practice LeadershipDiploma of Professional Practice Leadership 
91563NSW - Certificate IV in Environmental Management and SustainabilityCertificate IV in Environmental Management and Sustainability 
52559WA - Certificate IV in Leadership DevelopmentCertificate IV in Leadership Development 
10036NAT - Diploma of Ministry (Insert Stream)Diploma of Ministry (Insert Stream) 

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  25/Jul/2008 
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Modification History

Not applicable.

Unit Descriptor

Unit descriptor 

This unit describes the performance outcomes, skills and knowledge required to identify risks and to apply established risk management processes to a subset of an organisation or project's operations that are within the person's own work responsibilities and area of operation.

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

Application of the Unit

Application of the unit 

This unit 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.

Licensing/Regulatory Information

Not applicable.

Pre-Requisites

Prerequisite units 

Employability Skills Information

Employability skills 

This unit contains employability skills.

Elements and Performance Criteria Pre-Content

Elements describe the essential outcomes of a unit of competency.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide.

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

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 and legislation

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

Required Skills and Knowledge

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the skills and knowledge required for this unit.

Required skills 

  • literacy skills sufficient to read and understand a variety of texts; and to write, edit and proofread documents to ensure clarity of meaning, accuracy and consistency of information
  • research and data collection skills to monitor and evaluate risks
  • problem-solving skills to appropriately address identified risks.

Required knowledge 

  • Australian and international standards for risk management
  • key provisions of relevant legislation from all levels of government that may affect aspects of business operations, such as:
  • anti-discrimination legislation
  • ethical principles
  • codes of practice
  • privacy laws
  • environmental issues
  • occupational health and safety
  • organisational policies and procedures relating to risk management processes and strategies
  • auditing requirements relating to risk management.

Evidence Guide

EVIDENCE GUIDE 

The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment 

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

Evidence of the following is essential:

  • identification, analysis and evaluation of risks
  • demonstrated understanding of personal role in relation to wider organisational or project context
  • demonstrated understanding of risk management processes and procedures.

Context of and specific resources for assessment 

Assessment must ensure:

  • access to workplace documentation relating to risk management
  • access to risk management tools and frameworks.

Method of assessment 

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

  • direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
  • review of documentation outlining risk analysis processes and outcomes
  • analysis of responses to case studies and scenarios
  • oral or written questioning to assess knowledge of Australian and international standards for risk management
  • review of implementation of treatment plans.

Guidance information for assessment 

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

  • general administration units
  • other risk management units.

Range Statement

RANGE STATEMENT 

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Context  may include:

  • any related projects or organisations
  • any resources, including physical assets, which are vital to operations
  • key operational elements and service of the organisation
  • organisation or project, how it is organised and its capabilities
  • own role and responsibilities in relation to overall project or organisation design

Risks  may include:

  • commercial and legal relationships
  • economic circumstances and scenarios
  • human behaviour
  • individual activities
  • management activities and controls
  • natural events
  • political circumstances
  • positive risk
  • technology - technological issues

Tools  may include:

  • documentation to assist in process of identifying risk, and assessing impact and likelihood of occurrence
  • standard instruments developed for the organisation and contextualised for sections of the workplace's operations, such as checklists and testing procedures
  • tools to prioritise risks, including where relevant, numerical scoring systems for risks

Stakeholders  may include:

  • contractors
  • employees
  • financial managers
  • insurance agents
  • managers
  • public
  • service providers
  • suppliers
  • unions
  • volunteers

Risk categorisation  may include:

  • likelihood of risks:
  • almost certain
  • likely
  • possible
  • unlikely
  • rare
  • consequences of risks:
  • insignificant
  • minor
  • moderate
  • major
  • catastrophic
  • current control measures

Level of risk  may include:

  • low, treated with routine procedures
  • moderate, with specific responsibility allocated for the risk, and monitoring and response procedures implemented
  • high, requiring action, as it has potential to be damaging to the organisation or project
  • extreme, requiring immediate action, as it has potential to be devastating to the organisation or project

Control measures  may include:

  • hierarchy of controls:
  • reduction in likelihood of risks
  • reduction of consequences of risks
  • retention of risks
  • risk aversion
  • transfer of responsibility of risks

Measures of success  may include:

  • costs
  • reductions in impact
  • reductions in likelihood
  • reductions in occurrence

Unit Sector(s)

Unit sector 

Competency field

Competency field 

Regulation, Licensing and Risk - Risk Management

Co-requisite units

Co-requisite units