Modification History
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Release |
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Release 1 |
This version first released with BSB07 Business Training Package version 6.0. Revised unit. Required knowledge updated to incorporate current Australian Standards. Replaces BSBRSK501A Manage risk |
Unit Descriptor
This unit describes the performance outcomes, skills and knowledge required to manage risks in a range of contexts across the organisation or for a specific business unit or area.
Application of the Unit
This unit addresses the management of the risk across the organisation or within a business unit or area. It does not assume any given industry setting.
This unit applies to individuals who are working in positions of authority and are approved to implement change across the organisation, business unit, program or project area. They may or may not have responsibility for directly supervising others.
Licensing/Regulatory Information
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Pre-Requisites
Not applicable.
Employability Skills Information
This unit contains employability skills.
Elements and Performance Criteria Pre-Content
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Element |
Performance Criteria |
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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
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1. Establish risk context |
1.1 Review organisational processes, procedures and requirements for undertaking risk management 1.2 Determine scope for risk management process 1.3 Identify internal and external stakeholders and their issues 1.4 Review political, economic, social, legal, technological and policy context 1.5 Review strengths and weaknesses of existing arrangements 1.6 Document critical success factors, goals or objectives for area included in scope 1.7 Obtain support for risk management activities 1.8 Communicate with relevant parties about the risk management process and invite participation |
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2. Identify risks |
2.1 Invite relevant parties to assist in the identification of risks 2.2 Research risks that may apply to scope 2.3 Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties |
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3. Analyse risks |
3.1 Assess likelihood of risks occurring 3.2 Assess impact or consequence if risks occur 3.3 Evaluate and prioritise risks for treatment |
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4. Select and implement treatments |
4.1 Determine and select most appropriate options for treating risks 4.2 Develop an action plan for implementing risk treatment 4.3 Communicate risk management processes to relevant parties 4.4 Ensure all documentation is in order and appropriately stored 4.5 Implement and monitor action plan 4.6 Evaluate risk management process |
Required Skills and Knowledge
This section describes the skills and knowledge required for this unit.
Required skills
- communication and literacy skills to consult and negotiate, to prepare communications about risk management, and to encourage stakeholder involvement
- organisational and management skills to plan and implement risk management processes
- problem-solving and innovation skills to find practical ways to manage identified risks.
Required knowledge
- AS/NZS ISO 31000:2009 Risk Management - Principles and Guidelines
- legislation, codes of practice and national standards, for example:
- duty of care
- company law
- contract law
- environmental law
- freedom of information
- industrial relations law
- privacy and confidentiality
- legislation relevant to organisation’s operations
- legislation relevant to operation as a business entity
- organisational policies and procedures, including:
- risk management strategy
- policies and procedures for risk management
- overall operations of organisation
- reasonable adjustment in the workplace for people with a disability
- types of available insurance and insurance providers.
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.
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the following is essential:
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Context of and specific resources for assessment |
Assessment must ensure:
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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:
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Guidance information for assessment |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
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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.
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Risks may include those relating to: |
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Scope may apply to: |
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Relevant parties may include: |
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Research may include: |
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Tools and techniques may include: |
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Likelihood may refer to: |
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Impact or consequence may refer to: |
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Evaluation of risks includes: |
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Options may include: |
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Action plans should include: |
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Unit Sector(s)
Management and Leadership – Management
Custom Content Section
Not applicable.
