BSBRSK501

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.

Topics:

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

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

Nominal Hours: 60