This unit describes skills and knowledge required to manage business risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting.

The unit applies to individuals who are working in positions of authority and who 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.


  1. Establish risk context
  2. Identify risks
  3. Analyse risks
  4. Select and implement treatments

Upon successful completion of this unit, you will:

  • Lead at least one risk management process for an organisation or work area.

In the course of the above, you must:

  • 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 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.

Nominal hours = 60 hours