Assessor Resource

SIRXRSK003
Manage risk in the retail environment

Assessment tool

Version 1.0
Issue Date: April 2024


This unit describes the performance outcomes, skills and knowledge required to manage risks across a retail organisation, department or function. This includes establishing the risk context, assessing and treating risks.

This unit applies to senior personnel working in a diverse range of sectors and business contexts. They operate independently and are responsible for making a range of operational business decisions and risk management.

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

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)


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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Establish risk context.

1.1.Review organisational policies and procedures for undertaking risk management activities.

1.2.Review strengths and weaknesses of existing risk management arrangements.

1.3.Determine scope for risk management, and document critical success factors in managing risks.

2. Identify risks.

2.1.Consult with relevant internal and external stakeholders to assist in identification of risks.

2.2.Research internal and external risks that may apply to risk scope.

2.3.Systematically analyse information to decide on appropriate risk management treatments.

2.4.Document identified risks according to organisational procedures.

3. Assess risks.

3.1.Assess and document likelihood of identified risks occurring.

3.2.Assess and document impact or consequences if identified risks occur.

3.3.Evaluate, prioritise and document identified risks for management.

4. Treat risks.

4.1.Consult with relevant internal and external stakeholders on risks and risk management.

4.2.Determine and select most appropriate options for managing assessed risks.

4.3.Document a risk management plan according to organisational procedures.

4.4.Implement and monitor the risk management plan, amending plan as required.

4.5.Monitor implementation of risk management activities.

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

identify and analyse one internal and one external risk for one of the following:

retail organisation

retail department

retail function

develop and implement a risk management plan for the management of one of the above identified risks, covering:

an assessment of potential impact of the risk

action to be taken to mitigate and treat the risk

review and document outcomes of the risk management plan.

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

organisational policies and procedures relevant to:

identifying risks

assessing risks

treating risks

risk management plans

sources of information to establish risks

regulation and compliance relevant to risk management in the retail industry

ISO 31000 - Risk management

risk identification methods:

scenario based

objective based

internal audit

environmental scanning

risk treatment options:

avoidance

reduction

sharing

retention

commercial impact of risk management both favourable and unfavourable:

reputation

fines

business closure

health risk

team morale

absenteeism

retail risks:

global risks

political

economic

social

legal

technological

consumer markets and behavioural change

regulation and compliance

cost control

brand image

supply chain and sourcing

commercial real estate

competition

security

safety.

Skills must be demonstrated in a services industry environment. This can be:

an industry workplace

a simulated industry environment.

Assessment must ensure access to:

relevant documentation:

relevant legislation, regulations, standards and codes

organisational policies and procedures relevant to risk management as listed in the Knowledge Evidence

existing risk management plan

internal and external stakeholders with whom to consult; these can be:

individuals in an industry workplace, or

individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry environment

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.

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.

ELEMENTS

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

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

1. Establish risk context.

1.1.Review organisational policies and procedures for undertaking risk management activities.

1.2.Review strengths and weaknesses of existing risk management arrangements.

1.3.Determine scope for risk management, and document critical success factors in managing risks.

2. Identify risks.

2.1.Consult with relevant internal and external stakeholders to assist in identification of risks.

2.2.Research internal and external risks that may apply to risk scope.

2.3.Systematically analyse information to decide on appropriate risk management treatments.

2.4.Document identified risks according to organisational procedures.

3. Assess risks.

3.1.Assess and document likelihood of identified risks occurring.

3.2.Assess and document impact or consequences if identified risks occur.

3.3.Evaluate, prioritise and document identified risks for management.

4. Treat risks.

4.1.Consult with relevant internal and external stakeholders on risks and risk management.

4.2.Determine and select most appropriate options for managing assessed risks.

4.3.Document a risk management plan according to organisational procedures.

4.4.Implement and monitor the risk management plan, amending plan as required.

4.5.Monitor implementation of risk management activities.

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

identify and analyse one internal and one external risk for one of the following:

retail organisation

retail department

retail function

develop and implement a risk management plan for the management of one of the above identified risks, covering:

an assessment of potential impact of the risk

action to be taken to mitigate and treat the risk

review and document outcomes of the risk management plan.

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

organisational policies and procedures relevant to:

identifying risks

assessing risks

treating risks

risk management plans

sources of information to establish risks

regulation and compliance relevant to risk management in the retail industry

ISO 31000 - Risk management

risk identification methods:

scenario based

objective based

internal audit

environmental scanning

risk treatment options:

avoidance

reduction

sharing

retention

commercial impact of risk management both favourable and unfavourable:

reputation

fines

business closure

health risk

team morale

absenteeism

retail risks:

global risks

political

economic

social

legal

technological

consumer markets and behavioural change

regulation and compliance

cost control

brand image

supply chain and sourcing

commercial real estate

competition

security

safety.

Skills must be demonstrated in a services industry environment. This can be:

an industry workplace

a simulated industry environment.

Assessment must ensure access to:

relevant documentation:

relevant legislation, regulations, standards and codes

organisational policies and procedures relevant to risk management as listed in the Knowledge Evidence

existing risk management plan

internal and external stakeholders with whom to consult; these can be:

individuals in an industry workplace, or

individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry environment

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.
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
Review organisational policies and procedures for undertaking risk management activities. 
Review strengths and weaknesses of existing risk management arrangements. 
Determine scope for risk management, and document critical success factors in managing risks. 
Consult with relevant internal and external stakeholders to assist in identification of risks. 
Research internal and external risks that may apply to risk scope. 
Systematically analyse information to decide on appropriate risk management treatments. 
Document identified risks according to organisational procedures. 
Assess and document likelihood of identified risks occurring. 
Assess and document impact or consequences if identified risks occur. 
Evaluate, prioritise and document identified risks for management. 
Consult with relevant internal and external stakeholders on risks and risk management. 
Determine and select most appropriate options for managing assessed risks. 
Document a risk management plan according to organisational procedures. 
Implement and monitor the risk management plan, amending plan as required. 
Monitor implementation of risk management activities. 

Forms

Assessment Cover Sheet

SIRXRSK003 - Manage risk in the retail environment
Assessment task 1: [title]

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Assessment Record Sheet

SIRXRSK003 - Manage risk in the retail environment

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Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

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Overall assessment result: Competent Not yet competent

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