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Elements and Performance Criteria

Assist with risk analysis and planning
Perform risk-control activities
Contribute to assessing risk-management outcomes
- Contribute to the ongoing review of project outcomes to determine the effectiveness of risk-management activities by accessing project risk records and other available information
- Report risk-management issues and responses to others for lessons learned or application to future projects

Required Skills

Required skills

communication and teamwork skills to contribute to collective processes for risk management

initiative and enterprise skills to think laterally about risks and how they may occur

planning organising and analytical skills to assist with risk analysis riskmanagement planning and review of riskmanagement outcomes

Required knowledge

riskmanagement methods and standards

riskmanagement processes

Evidence Required

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

applying riskmanagement techniques in relation to workplace projects

knowledge of riskmanagement methods techniques and tools

Context of and specific resources for assessment

Assessment must ensure access to

examples of projectmanagement documentation for risk management

Method of assessment

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

direct questioning combined with review of portfolios of evidence and thirdparty workplace reports of onthejob performance by the candidate

analysis of responses addressing case studies and scenarios that present issues and problems in project risk management

oral or written questioning to assess knowledge of strategies for managing project risk and their application to different situations

review of riskanalysis methods techniques and tools

review of riskmanagement plans

evaluation of reporting of riskmanagement issues and responses

Guidance information for assessment

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

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.

Risk-analysis methods may include:	risk categorisation risk data quality assessment risk likelihood and consequence ranking risk urgency assessment.
Risk-management strategies may include:	accepting some or all of the consequences of a particular risk avoiding the risk mitigating the likelihood of the risk sharing risk with another party transferring risk to another party.
Risk-management plans may include:	definitions of risk likelihood and consequence identified risks methodologies risk categories and priorities risk context for project roles and responsibilities in regard to risk management stakeholder tolerances tools for determining risk rank and priority tracking risks.
Monitoring risks may include:	recommended corrective actions recommended preventative actions requested changes reserve analysis risk audits risk reassessment risk register and updates status meetings technical performance information variance and trend analysis.
Risk-management approaches may include:	risk identification risk quantification risk response control risk response development.
Delegated authority may be:	subject to frequent change in different project contexts under limited guidance and supervision within agreed authorisation and limits within established organisational framework, procedures and routines.
Risk-contingency measures may include:	alternative project plans and approaches degree of acceptable variation planning for risk project planning tolerances.
Opportunities may include:	better means of achieving a result changes in the project or broader environment that offer scope for rescheduling activities to better effect efficiencies or methods to work more effectively, such as ways of shortening an activity initial project activities that reveal entirely different sets of priorities, for example product development, research and policy development responses to changing commercial or competitive conditions.
Risk records may include:	lists of potential risk events project and/or organisation files and records risk analysis and reappraisal risk diaries, risk registers, incident logs, occurrence reports and other such documentation risk-management lessons learned risk-management plan.