Reference no: EM131612810

Manage risk Assessment

Part A - Briefly answer the questions below in the spaces provided.

1. What is a risk management?

2. What is the main Australian and New Zealand standard that cover risk management?

3. What are some of the types of legislation, codes of practice and national standards you need to be aware of?

4. What are the organisational policies and procedures you need to manage risk?

5. When managing risk what risks would be related to it:

6. When managing risk what might your scope apply to?

7. When managing risk who could be the relevant parties involved?

8. When managing risk what are the areas of research you may be involved with?

9. What are the levels of impact or significance of a outcome if a risk occurs?

10. When managing risk what are some of the tools and techniques you may use?

11. What are the levels of probability of a given risk occurring?

12. What should the evaluation of risks include?

13. What options do you have when the risk is identified?

14. When developing action plans for risk management what should they include?

Part B - Portfolio Instructions

ALL CANDIDATES:

This assessment activity is designed to gather evidence of your competency in regard to the elements and performance criteria in the unit of competence BSBRSK501 Manage Risk. Specifically the student must provide evidence that they are competent to:

• Develop a Risk Management Plan which includes a detailed stakeholder analysis, explanation of the risk context, critical success factors, identified and analysed risk, and treatments for prioritised risks;
• Provide details of monitoring arrangements for risk management plan and an evaluation of the risk management plan's efficacy in treating risks;
• Apply your knowledge of relevant legislation, codes of practice and national standards.

You are to develop a portfolio of evidence that should include the following information:

A. Evidence of consultation with stakeholders about risk management. Examples of evidence including emails, records of interviews, completed surveys and meeting agendas and minutes.

B. A risk management plan that the student has developed must include:

i. an explanation of the context using the STEP framework;

ii. factors that will contribute to the success of the risk management plan;

iii. identified risks;

iv. the likelihood of the risks occurring (almost certain, likely, possible, unlikely, rare)

v. the potential consequence of these risks (catastrophic, major, moderate, minor, insignificant)

vi. treatments for risks that are a priority;

vii. how the plan will be monitored;

viii. how the student will evaluate the action plan's success

C. Copies of relevant legislation, codes of practice, regulations, and policies and procedures.

The following performance criteria is required:

All portfolio contents must be organised in a logical sequence.

The information included in the portfolio should be typed and presented in a neat and tidy manner.

Direct observation Assessment Instructions:

You are required to carry out a risk assessment process for a specific project that your current workplace has planned.  If you are not employed then you may conduct the assessment on the training organisation or another workplace where access is permitted.

You are required to identify risks applicable within your own work responsibilities and area of operation which may include projects being undertaken individually or by a team or operations within a specific section of the organisation.

This assessment involves the following steps:

1. Identify risks

2. Analyse and evaluate risks

3. Treat risks

4. Monitor and review the effectiveness of risk treatments

Below are the criteria required as evidence for your portfolio, make sure you clearly read and define each point and include all relevant documentation in your portfolio.

Portfolio contents must be organised in a logical sequence.

The information you include in this portfolio should be typed and presented in a neat and tidy manner.

Assignment Files -

https://www.dropbox.com/s/6z9vhonc2j6biqr/Assignment%20Files.rar?dl=0