- BSBRSK501A - Manage risk
Assessor Resource
BSBRSK501A
Manage risk
Assessment tool
Version 1.0
Issue Date: June 2024
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.
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.
The unit has been designed to be consistent with AS/NZS 4360:2004 Risk management.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)
Employability Skills
This unit contains employability skills.
Evidence Required
List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
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: risk management plan which includes a detailed stakeholder analysis, explanation of the risk context, critical success factors, identified and analysed risks, and treatments for prioritised risks details of monitoring arrangements for risk management plan and an evaluation of the risk management plan's efficacy in treating risks knowledge of relevant legislation, codes of practice and national standards. |
Context of and specific resources for assessment | Assessment must ensure: access to workplace documentation. |
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 observation of presentations oral or written questioning to assess knowledge of risk management policies and procedures review of documented critical success factors, and goals or objectives for area review of risks prioritised for treatment evaluation of action plan for implementing risk treatment evaluation of documentation communicating risk management processes to relevant parties. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example: financial management units, governance units, human resource management units, or technology units. |
Submission Requirements
List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here
Assessment task 1: [title] Due date:
(add new lines for each of the assessment tasks)
Assessment Tasks
Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.
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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 4360:2004 Risk management. 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. |
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. | |
Risks may include those relating to: | commercial relationships economic circumstances and scenarios human behaviour individual activities legislation management activities and controls natural events political circumstances technology |
Scope may apply to: | given project specific business unit or area specific functional such as: financial management OHS governance external environment internal environment whole organisation |
Relevant parties may include: | all staff internal and external stakeholders senior management specific teams or business units technical experts |
Research may include: | data or statistical information information from other business areas lessons learned from other projects or activities market research previous experience public consultation review of literature and other information sources |
Tools and techniques may inlcude: | brainstorms checklists fishbone diagrams flowcharts scenario analysis |
Likelihood may refer to: | probability of a given risk occurring, such as: very likely likely possible unlikely rare |
Impact or consequence may refer to: | significance of outcomes if the risk occurs, such as: disastrous severe moderate impact minimal impact |
Evaluation of risks includes: | considering the likelihood of the risk occurring considering the impact of the risk determining which risks are most significant and are therefore priorities for treatment |
Options may include: | avoiding the risk changing the consequences changing the likelihood retaining the risk sharing the risk with a third party |
Action plans should include: | what actions are required who is taking responsibility time lines monitoring processes |
Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.
Observation Checklist
Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice | Yes | No | Comments/feedback |
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Review organisational processes, procedures and requirements for undertaking risk management | |||
Determine scope for risk management process | |||
Identify internal and external stakeholders and their issues | |||
Review political, economic, social, legal, technological and policy context | |||
Review strengths and weaknesses of existing arrangements | |||
Document critical success factors, goals or objectives for area included in scope | |||
Obtain support for risk management activities | |||
Communicate with relevant parties about the risk management process and invite participation | |||
Invite relevant parties to assist in the identification of risks | |||
Research risks that may apply to scope | |||
Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties | |||
Assess likelihood of risks occurring | |||
Assess impact or consequence if risks occur | |||
Evaluate and prioritise risks for treatment | |||
Determine and select most appropriate options for treating risks | |||
Develop an action plan for implementing risk treatment | |||
Communicate risk management processes to relevant parties | |||
Ensure all documentation is in order and appropriately stored | |||
Implement and monitor action plan | |||
Evaluate risk management process |
Forms
Assessment Cover Sheet
BSBRSK501A - Manage risk
Assessment task 1: [title]
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
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Result: Competent Not yet competent
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Assessment Record Sheet
BSBRSK501A - Manage risk
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent
Assessor name:
Signature:
Date:
Student signature:
Date: