Google Links

Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Establish risk context
   • Review organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards
   • 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