Manage business risk

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver SITXMGT005A, 'Manage business risk'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Reference books for 'Manage business risk' on This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to for every purchase, so go nuts :)

Elements and Performance Criteria




Identify risks to business operations.


Determine operational objectives through consultation with key people and by referring to available informationsources and use this as the basis for identifying, assessing and controlling risks to the organisation or activity.


Develop or access a business risk identification and assessment tool or template document which incorporates assessment criteria for assessing risks and consequences.


Use appropriate methods to identify foreseeable risk that has the potential to adversely affect operational activities.


Ensure that risk assessment processes are a key component of all operational activities.


Involve other people in the risk identification process and integrate the perspective of key people.


Produce clear documents that outline identified risks to allow for a full assessment.


Assess risks to business operations.


Refer to identified and documented risks, consult with and involve key people to achieve broad input into the risk assessment process.


Use a systematic and four-staged hierarchical process model to conduct the risk assessment.


Use established assessment criteria for assessing risks and consequences.


Prepare clear documentation of the outcome of risk assessment and proposed control actions.


Eliminate or control the business risk.


Assess the organisation's capability to eliminate or control risk and determine specific control measures.


Develop and document contingency plans for risk elimination, minimisation or control and communicate these to key people involved in the operational activity.


Implement control measures according to individual level of responsibility or refer to appropriate personnel for permission or further action.


Eliminate risk where possible or take action to control and minimise the risk.


Continuously monitor specific risks and controls to ensure effectiveness of control method.


Regularly monitor low or accepted risks for any unacceptable consequences.


Monitor and evaluate business risk management practices.


Continuously monitor operational activities for a changing risk profile and identify, assess and control business risks on an ongoing basis.


Make evaluation of specific risk controls a key component of all operational activity reviews.


Consult with a range of key people to elicit feedback on the effectiveness of all risk management practices.


Identify inadequacies in risk management practices, develop, implement, document and communicate improvements to risk management practices.

Qualifications and Skillsets

SITXMGT005A appears in the following qualifications: