BSBRSK501

Upon successful completion of this unit, you will:

  • analyse information from a range of sources to identify the scope and context of the risk management process including:
    • stakeholder analysis
    • political, economic, social, legal, technological and policy context
    • current arrangements
    • objectives and critical success factors for the area included in scope
    • risks that may apply to scope
  • 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
  • maintain documentation

Demonstrate knowledge of:

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