Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

PSPMGT007 Mapping and Delivery Guide
Manage risk

Version 1.0
Issue Date: April 2024


Qualification -
Unit of Competency PSPMGT007 - Manage risk
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills required to maximise results and minimise consequences for a business unit activity by managing risk. It includes establishing the risk management context, planning for risk management.This unit applies to those managing risks. The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to.Those undertaking this unit would work autonomously, performing complex task in a range of familiar contexts.No licensing, legislative or certification requirements apply to unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

This unit contains no specific industry-mandated assessment conditions. Guidance on suggested and recommended conditions and methods can be found in the Implementation Guide.

Assessors must satisfy the NVR/AQTF mandatory competency requirements for assessors.
Prerequisites/co-requisites
Competency Field Management
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Establish the risk management context
  • Establish the nature and extent of business unit activity, its objectives and outcomes within the organisational context.
  • Identify the strategic and risk management context.
  • Identify and consult stakeholders to ensure their views, concerns and needs are taken into account in the risk management process.
  • Determine criteria for risk assessment.
  • Determine risk management criteria to provide guidance on balancing risk, costs, benefits and opportunities.
  • Monitor, review and adjust risk management criteria to ensure opportunities and current and emerging trends are reflected.
       
Element: Plan for risk management
  • Investigate sources of risk and identify and consult upon potential, perceived and actual risks to ensure full coverage.
  • Analyse risks and document in consultation with stakeholders, and determine levels of risk as the basis for risk management planning.
  • Select risk management methods and modify as necessary to determine risks that are acceptable or unacceptable.
  • Identify risk treatment options for unacceptable risks and determine preferred risk treatment approaches.
  • Develop and communicate risk management plan to key stakeholders to ensure clarity and achievement of objectives throughout the activity’s life cycle.
       
Element: Manage risk
  • Manage activity in accordance with agreed risk management plan.
  • Review performance, analyse variance and initiate risk responses to achieve objectives with minimal disruption and conflict.
  • Monitor internal and external risks to outcomes and initiate remedial actions to achieve objectives.
       
Element: Evaluate the risk management plan
  • Develop and implement an evaluation methodology.
  • Review and analyse outcomes to assess the effectiveness of current risk management strategies.
  • Monitor existing risks, identify new risks and identify any trouble spots.
  • Seek and use a variety of information, including the perspectives of key stakeholders.
  • Formulate and act upon recommendations on enhancements to the plan.
  • Communicate the outcomes of evaluation to relevant personnel.
       
Element: Establish the risk management context
  • Establish the nature and extent of business unit activity, its objectives and outcomes within the organisational context.
  • Identify the strategic and risk management context.
  • Identify and consult stakeholders to ensure their views, concerns and needs are taken into account in the risk management process.
  • Determine criteria for risk assessment.
  • Determine risk management criteria to provide guidance on balancing risk, costs, benefits and opportunities.
  • Monitor, review and adjust risk management criteria to ensure opportunities and current and emerging trends are reflected.
       
Element: Plan for risk management
  • Investigate sources of risk and identify and consult upon potential, perceived and actual risks to ensure full coverage.
  • Analyse risks and document in consultation with stakeholders, and determine levels of risk as the basis for risk management planning.
  • Select risk management methods and modify as necessary to determine risks that are acceptable or unacceptable.
  • Identify risk treatment options for unacceptable risks and determine preferred risk treatment approaches.
  • Develop and communicate risk management plan to key stakeholders to ensure clarity and achievement of objectives throughout the activity’s life cycle.
       
Element: Manage risk
  • Manage activity in accordance with agreed risk management plan.
  • Review performance, analyse variance and initiate risk responses to achieve objectives with minimal disruption and conflict.
  • Monitor internal and external risks to outcomes and initiate remedial actions to achieve objectives.
       
Element: Evaluate the risk management plan
  • Develop and implement an evaluation methodology.
  • Review and analyse outcomes to assess the effectiveness of current risk management strategies.
  • Monitor existing risks, identify new risks and identify any trouble spots.
  • Seek and use a variety of information, including the perspectives of key stakeholders.
  • Formulate and act upon recommendations on enhancements to the plan.
  • Communicate the outcomes of evaluation to relevant personnel.
       


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. Where bold italicised text is used, further information is detailed in the range of conditions section.

1. Establish the risk management context

1.1 Establish the nature and extent of business unit activity, its objectives and outcomes within the organisational context.

1.2 Identify the strategic and risk management context.

1.3 Identify and consult stakeholders to ensure their views, concerns and needs are taken into account in the risk management process.

1.4 Determine criteria for risk assessment.

1.5 Determine risk management criteria to provide guidance on balancing risk, costs, benefits and opportunities.

1.6 Monitor, review and adjust risk management criteria to ensure opportunities and current and emerging trends are reflected.

2. Plan for risk management

2.1 Investigate sources of risk and identify and consult upon potential, perceived and actual risks to ensure full coverage.

2.2 Analyse risks and document in consultation with stakeholders, and determine levels of risk as the basis for risk management planning.

2.3 Select risk management methods and modify as necessary to determine risks that are acceptable or unacceptable.

2.4 Identify risk treatment options for unacceptable risks and determine preferred risk treatment approaches.

2.5 Develop and communicate risk management plan to key stakeholders to ensure clarity and achievement of objectives throughout the activity’s life cycle.

3. Manage risk

3.1 Manage activity in accordance with agreed risk management plan.

3.2 Review performance, analyse variance and initiate risk responses to achieve objectives with minimal disruption and conflict.

3.3 Monitor internal and external risks to outcomes and initiate remedial actions to achieve objectives.

4. Evaluate the risk management plan

4.1 Develop and implement an evaluation methodology.

4.2 Review and analyse outcomes to assess the effectiveness of current risk management strategies.

4.3 Monitor existing risks, identify new risks and identify any trouble spots.

4.4 Seek and use a variety of information, including the perspectives of key stakeholders.

4.5 Formulate and act upon recommendations on enhancements to the plan.

4.6 Communicate the outcomes of evaluation to relevant personnel.

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the candidate must demonstrate evidence of performance of the following on at least one occasion.

applying legislation, regulations and policies relating to risk management

researching and analysing the wider context affecting the organisation

using communication and consultation with a diverse range of stakeholders

applying problem solving using conceptual and reasoning skills

engaging in discussion using exchange of complex oral information

using a variety of words and language structures to explain complex, formal documents and assisting others to apply them in the workplace

Evidence required to demonstrate competence must satisfy all of the requirements of the elements and performance criteria. If not otherwise specified the depth of knowledge demonstrated must be appropriate to the job context of the candidate.

legislation, regulations, policies, procedures and guidelines relating to risk management

Australian and New Zealand standards

Guidelines for managing risk in the Australian and New Zealand public sector

risk management cycle

the relationship of risk to context – how the context may define the risks

the importance of consultation and communication at every stage of the risk management cycle

legal requirements related to the activity

wholeoflife considerations

approval processes

range of evaluation methodologies

the diversity of risks in the public sector

public sector legislation, including work health and safety and environment in the context of risk management

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, 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. Where bold italicised text is used, further information is detailed in the range of conditions section.

1. Establish the risk management context

1.1 Establish the nature and extent of business unit activity, its objectives and outcomes within the organisational context.

1.2 Identify the strategic and risk management context.

1.3 Identify and consult stakeholders to ensure their views, concerns and needs are taken into account in the risk management process.

1.4 Determine criteria for risk assessment.

1.5 Determine risk management criteria to provide guidance on balancing risk, costs, benefits and opportunities.

1.6 Monitor, review and adjust risk management criteria to ensure opportunities and current and emerging trends are reflected.

2. Plan for risk management

2.1 Investigate sources of risk and identify and consult upon potential, perceived and actual risks to ensure full coverage.

2.2 Analyse risks and document in consultation with stakeholders, and determine levels of risk as the basis for risk management planning.

2.3 Select risk management methods and modify as necessary to determine risks that are acceptable or unacceptable.

2.4 Identify risk treatment options for unacceptable risks and determine preferred risk treatment approaches.

2.5 Develop and communicate risk management plan to key stakeholders to ensure clarity and achievement of objectives throughout the activity’s life cycle.

3. Manage risk

3.1 Manage activity in accordance with agreed risk management plan.

3.2 Review performance, analyse variance and initiate risk responses to achieve objectives with minimal disruption and conflict.

3.3 Monitor internal and external risks to outcomes and initiate remedial actions to achieve objectives.

4. Evaluate the risk management plan

4.1 Develop and implement an evaluation methodology.

4.2 Review and analyse outcomes to assess the effectiveness of current risk management strategies.

4.3 Monitor existing risks, identify new risks and identify any trouble spots.

4.4 Seek and use a variety of information, including the perspectives of key stakeholders.

4.5 Formulate and act upon recommendations on enhancements to the plan.

4.6 Communicate the outcomes of evaluation to relevant personnel.

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
Establish the nature and extent of business unit activity, its objectives and outcomes within the organisational context. 
Identify the strategic and risk management context. 
Identify and consult stakeholders to ensure their views, concerns and needs are taken into account in the risk management process. 
Determine criteria for risk assessment. 
Determine risk management criteria to provide guidance on balancing risk, costs, benefits and opportunities. 
Monitor, review and adjust risk management criteria to ensure opportunities and current and emerging trends are reflected. 
Investigate sources of risk and identify and consult upon potential, perceived and actual risks to ensure full coverage. 
Analyse risks and document in consultation with stakeholders, and determine levels of risk as the basis for risk management planning. 
Select risk management methods and modify as necessary to determine risks that are acceptable or unacceptable. 
Identify risk treatment options for unacceptable risks and determine preferred risk treatment approaches. 
Develop and communicate risk management plan to key stakeholders to ensure clarity and achievement of objectives throughout the activity’s life cycle. 
Manage activity in accordance with agreed risk management plan. 
Review performance, analyse variance and initiate risk responses to achieve objectives with minimal disruption and conflict. 
Monitor internal and external risks to outcomes and initiate remedial actions to achieve objectives. 
Develop and implement an evaluation methodology. 
Review and analyse outcomes to assess the effectiveness of current risk management strategies. 
Monitor existing risks, identify new risks and identify any trouble spots. 
Seek and use a variety of information, including the perspectives of key stakeholders. 
Formulate and act upon recommendations on enhancements to the plan. 
Communicate the outcomes of evaluation to relevant personnel. 
Establish the nature and extent of business unit activity, its objectives and outcomes within the organisational context. 
Identify the strategic and risk management context. 
Identify and consult stakeholders to ensure their views, concerns and needs are taken into account in the risk management process. 
Determine criteria for risk assessment. 
Determine risk management criteria to provide guidance on balancing risk, costs, benefits and opportunities. 
Monitor, review and adjust risk management criteria to ensure opportunities and current and emerging trends are reflected. 
Investigate sources of risk and identify and consult upon potential, perceived and actual risks to ensure full coverage. 
Analyse risks and document in consultation with stakeholders, and determine levels of risk as the basis for risk management planning. 
Select risk management methods and modify as necessary to determine risks that are acceptable or unacceptable. 
Identify risk treatment options for unacceptable risks and determine preferred risk treatment approaches. 
Develop and communicate risk management plan to key stakeholders to ensure clarity and achievement of objectives throughout the activity’s life cycle. 
Manage activity in accordance with agreed risk management plan. 
Review performance, analyse variance and initiate risk responses to achieve objectives with minimal disruption and conflict. 
Monitor internal and external risks to outcomes and initiate remedial actions to achieve objectives. 
Develop and implement an evaluation methodology. 
Review and analyse outcomes to assess the effectiveness of current risk management strategies. 
Monitor existing risks, identify new risks and identify any trouble spots. 
Seek and use a variety of information, including the perspectives of key stakeholders. 
Formulate and act upon recommendations on enhancements to the plan. 
Communicate the outcomes of evaluation to relevant personnel. 

Forms

Assessment Cover Sheet

PSPMGT007 - Manage risk
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

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Assessor name:

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Assessment Record Sheet

PSPMGT007 - Manage risk

Student name:

Student ID:

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

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

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