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Evidence Guide: BSBRSK501 - Manage risk

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBRSK501 - Manage risk

What evidence can you provide to prove your understanding of each of the following citeria?

Establish risk context

  1. Review organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards
  2. Determine scope for risk management process
  3. Identify internal and external stakeholders and their issues
  4. Review political, economic, social, legal, technological and policy context
  5. Review strengths and weaknesses of existing arrangements
  6. Document critical success factors, goals or objectives for area included in scope
  7. Obtain support for risk management activities
  8. Communicate with relevant parties about the risk management process and invite participation
Review organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine scope for risk management process

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify internal and external stakeholders and their issues

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review political, economic, social, legal, technological and policy context

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review strengths and weaknesses of existing arrangements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document critical success factors, goals or objectives for area included in scope

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain support for risk management activities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate with relevant parties about the risk management process and invite participation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify risks

  1. Invite relevant parties to assist in the identification of risks
  2. Research risks that may apply to scope
  3. Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties
Invite relevant parties to assist in the identification of risks

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research risks that may apply to scope

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse risks

  1. Assess likelihood of risks occurring
  2. Assess impact or consequence if risks occur
  3. Evaluate and prioritise risks for treatment
Assess likelihood of risks occurring

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess impact or consequence if risks occur

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate and prioritise risks for treatment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select and implement treatments

  1. Determine and select most appropriate options for treating risks
  2. Develop an action plan for implementing risk treatment
  3. Communicate risk management processes to relevant parties
  4. Ensure all documentation is in order and appropriately stored
  5. Implement and monitor action plan
  6. Evaluate risk management process
Determine and select most appropriate options for treating risks

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop an action plan for implementing risk treatment

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate risk management processes to relevant parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure all documentation is in order and appropriately stored

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement and monitor action plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate risk management process

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish risk context

1.1 Review organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards

1.2 Determine scope for risk management process

1.3 Identify internal and external stakeholders and their issues

1.4 Review political, economic, social, legal, technological and policy context

1.5 Review strengths and weaknesses of existing arrangements

1.6 Document critical success factors, goals or objectives for area included in scope

1.7 Obtain support for risk management activities

1.8 Communicate with relevant parties about the risk management process and invite participation

2. Identify risks

2.1 Invite relevant parties to assist in the identification of risks

2.2 Research risks that may apply to scope

2.3 Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties

3. Analyse risks

3.1 Assess likelihood of risks occurring

3.2 Assess impact or consequence if risks occur

3.3 Evaluate and prioritise risks for treatment

4. Select and implement treatments

4.1 Determine and select most appropriate options for treating risks

4.2 Develop an action plan for implementing risk treatment

4.3 Communicate risk management processes to relevant parties

4.4 Ensure all documentation is in order and appropriately stored

4.5 Implement and monitor action plan

4.6 Evaluate risk management process

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Establish risk context

1.1 Review organisational processes, procedures and requirements for undertaking risk management in accordance with current risk management standards

1.2 Determine scope for risk management process

1.3 Identify internal and external stakeholders and their issues

1.4 Review political, economic, social, legal, technological and policy context

1.5 Review strengths and weaknesses of existing arrangements

1.6 Document critical success factors, goals or objectives for area included in scope

1.7 Obtain support for risk management activities

1.8 Communicate with relevant parties about the risk management process and invite participation

2. Identify risks

2.1 Invite relevant parties to assist in the identification of risks

2.2 Research risks that may apply to scope

2.3 Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties

3. Analyse risks

3.1 Assess likelihood of risks occurring

3.2 Assess impact or consequence if risks occur

3.3 Evaluate and prioritise risks for treatment

4. Select and implement treatments

4.1 Determine and select most appropriate options for treating risks

4.2 Develop an action plan for implementing risk treatment

4.3 Communicate risk management processes to relevant parties

4.4 Ensure all documentation is in order and appropriately stored

4.5 Implement and monitor action plan

4.6 Evaluate risk management process