BSBRSK501 - Manage risk

Unit code: BSBRSK501 | Study level: TAFE

Credit points

N/A

Location

Footscray Nicholson

Industry

Prerequisites

N/A

Overview

This unit describes skills and knowledge required to manage risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting. It applies to individuals who are working in positions of authority and are approved to implement change across the organisation, business unit, program or project area. They may or may not have responsibility for directly supervising others.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit’s learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

Students will be expected to demonstrate the following required skills:

analyse information from a range of sources to identify the scope and context of the risk management process;
consult and communicate with relevant stakeholders to identify and assess risks, determine appropriate risk treatment actions and priorities and explain the risk management processes;
develop and implement an action plan to treat risks;
monitor and evaluate the action plan and risk management process, and;
maintain documentation.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Students will also be expected to demonstrate the following knowledge:

outline the purpose and key elements of current risk management standards;
outline the legislative and regulatory context of the organisation in relation to risk management, and;
outline organisational policies, procedures and processes for risk management.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the Polytechnic and/or via the Polytechnic e-learning system.