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Elements and Performance Criteria

1. Establish risk context
   • 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
2. Identify risks
   • 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
3. Analyse risks
   • Assess likelihood of risks occurring
   • Assess impact or consequence if risks occur
   • Evaluate and prioritise risks for treatment
4. Select and implement treatments
   • 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

Range Statement

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Performance Evidence

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

determine the scope for risk management

identify potential risks associated with climate, resource (natural, physical, financial and human) availability and capacity, enterprise production systems, theft and vandalism of assets, scientific and technological development, marketing, and external political and social factors

implement strategies to minimise the impact of risk.

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Knowledge Evidence

The candidate must demonstrate knowledge of:

the wide range of risks faced by a primary production business

legislation, codes of practice and national standards, including:

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 equal opportunity

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

risk insurance and insurance providers.

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