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The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in italics in the Performance Criteria is explained here.

Organisational context may include	the organisation, how it is organised, and its capabilities the organisation's functions: political operational financial social legal commercial. the various stakeholders and clients any official resources, including physical areas and assets, that are vital to the operation of the organisation key operational elements and services of the organisation any major projects the relationship between the organisation and the environment in which it operates

Environmental factors may be	social economic legal technological environmental

Stakeholders may include	employees managers volunteers unions financial managers self-insurers clients suppliers contractors service providers community organisations the public

Risk evaluation criteria are	used to rank risks and decide whether they are acceptable or not affected by: legal requirements perceptions of internal/external stakeholders cost-benefit analysis, for example, cost of risk management being less than financial cost if the risk occurred

Legislation, policy and procedures may include	Commonwealth and State/Territory legislation relating to risk management national and international codes of practice and standards, such as SIRCA 8001:2003 the organisation's risk management policies and practices codes of conduct/codes of ethics Australian and New Zealand standards - Risk management, AS/NZS 4360:1999 or as reviewed Guidelines for managing risk in the Australian and New Zealand public sector - HB 143:1999 international guidelines such as ISO/IEC Guide 73:2002, Risk management - vocabulary, guidelines for use in standards professional standards for risk management, for example certified practising risk manager (CPRM) jurisdictional policies, guidelines and web sites, for example www.riskmanagement.qld.gov.au

Risk management	is a logical and systematic process of identifying, analysing, evaluating, treating and monitoring risks related to any strategy, plan, process, program or procedure that will enable the organisation to minimise losses and maximise opportunities. may be considered in relation to an organisation's: people assets and physical environment reputation and image legal issues business continuity finances. may include written procedures to ensure staff know: what how when, and by whom, action is to be taken to treat risks in the organisation

Methods of identifying risks may include	analysis of past records personal, local or overseas experience interviews/discussions with stakeholders surveys/questionnaires audits and physical inspections observation of activity analysis of scenarios research of external sources using industry experts/consultants

Risks may include	physical injury or death failure of machinery or equipment breaches of security fraud litigation client dissatisfaction unfavourable publicity

Risks may be	internal external random real perceived

Sources of risk may include	human behaviour technology/technical issues occupational health and safety legal political property/equipment environmental financial/market natural events

Risk events are	what can happen, as opposed to the source (how a risk may arise) and the impact (what is the implication if it happens)

Probability of risk may be	almost certain likely possible unlikely rare

Consequences of risk may be	insignificant minor moderate major catastrophic

Control measures may	reduce the probability of the risk occurring, the consequences of the risk, or both include: training supervision minimising/restricting exposure physical barriers. relocation

Level of risk may be	low - treated with routine procedures moderate - with specific responsibility allocated for the risk, and monitoring and response procedures implemented high - requiring action, as it has potential to be damaging to the organisation extreme - requiring immediate action, as the potential could be devastating to the organisation

Documentation of analysis may include	table showing all risks, any existing controls, probability of occurring, consequences and subsequent level of risk

Acceptable risks are	those which an organisation has determined have the least potential for harm not necessarily insignificant

Risks may be acceptable because	the risk level is so low that it does not warrant spending time and money to treat it the risk is low and the benefits outweigh the cost of treating it the opportunities presented are much greater than the threat

Unacceptable risks are	those which an organisation has determined have the most potential for harm

Options for treating risks may include	avoiding the risk, for example, by terminating the activity or conducting it in another way (these actions may have different risks attached) controlling the risk, by reducing the probability of the risk occurring, the consequences of the risk, or both transferring the risk, for example, by arranging insurance, contracting some or all of the activity to another organisation or person, etc retaining the risk, and making contingency plans/funds allocation for covering any loss or other negative effect from the risk

Risk treatment plan may include	sources of risk and risk events analysis of risks - probability, consequences and risk levels prioritised list of unacceptable risks treatment options selected person/s responsible for implementing treatment options resources required performance measures timeframe for implementation timetable for review of plan

Resources may include	physical - equipment, motor vehicles, furniture human - management, employees, volunteers financial - funding, budget allocation, sponsorship resources that are part of the risk treatment, not just implementation of the treatment plan training and briefing sessions changes to the organisation's operating structure

Changes may mean that	new risks are created existing risks are increased or decreased risks no longer exist the priority order of risks changes risk treatment strategies are no longer effective

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PSPGOV417A - Identify and treat risks

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Elements and Performance Criteria

Required Skills

Evidence Required

Range Statement