This unit describes the skills and knowledge required to identify business risks and to apply established risk management processes to a defined area of operations that are within the responsibilities and obligations of the work role.
The unit applies to individuals with a broad knowledge of risk analysis or project management who contribute well developed skills in creating solutions to unpredictable problems through analysis and evaluation of information from a variety of sources. They may have responsibility to provide guidance or delegate aspects of these tasks to others. Risks applicable to own work responsibilities and area of operation may include projects being undertaken individually or by a team, or operations within a section of the organisation.
- Identify risks
- Analyse and evaluate risks
- Treat risks
- Monitor and review effectiveness of risk treatments
Upon successful completion of this unit, you will:
demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to apply organisational policies, procedures and processes to:
- treat at least three risks by:
- identifying different types of organisational risks
- consulting with stakeholders to analyse and evaluate risks
- implementing control measures
- referring risks that are beyond own area of responsibility to others
- maintaining risk management documentation.
Nominal hours = 50