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BSBRSK401A Identify Risk & Apply Risk Management


Table of Contents

Facilitator and Head Teacher Contact Details. 3

Support 3

Resources. 3

Delivery Schedule. 4

Unit of Competence: BSBRSK401A Identify risk and apply risk management processes. 5

Elements and performance criteria. 5

Required Skills and Knowledge. 6

Required Skills. 6

Required Knowledge. 6

Range Statement 7

Assessment 9

Assessment task – Project 9

Grading criteria. 11

Additional assessment information. 11

Appendix. 13

Facilitator and Head Teacher Contact Details

Facilitator Name: Mounir El Ahmadieh


Phone Number: 0414 314 904

Location:Meadowbank College – J2.5

Head Teacher Name: Nola Sher


Location:Meadowbank College – J2.37


Learning materials will available on Share-point or provided via email

Email contact:


There is no compulsory textbook for this unit however you are encouraged to research and read widely on the subject matter. This might include, but should not be restricted to:

Resource Additional Information
Books Dwyer, J, Hopwood, N. 2013, Management Strategies and Skills, McGraw-Hill Education, Australia.

Cole, K. 2010,Management: theory and practice, 4thedition,Pearson Education Australia.

Publications Standards Australia, AS/NZS ISO 31000:2009 Risk management—Principles and guidelines

Institute of Chartered Accountants Australia, Risk Management Framework

Price Waterhouse Coopers, A practical guide to risk assessment

NSW Department of State and Regional Development, Risk management guide for small business

CPA Australia, Enterprise Risk Management: Better Practice Guide for the Public Sector

Websites Risk Management Institution of Australasia

The Australian Institute of Management,

Business Entry Point,


Australian Safety and Compensation Council,

Southern Cross University,

Delivery Schedule

Week Date Topic Content
1 20/02/2015 Unit introduction


·         Purpose

·         Resources &Assessment

·         Benefits of risk management

·         The risk management process

2 27/02/2015 Topic 1 – Establish risk management context ·         Introduction

·         Defining the external and internal context

·         Identifying objectives of the activity for which risk management will be applied

·         Setting the scope for risk management process

·         Identifying internal and external stakeholders

·         Outlining the strategies and processes for communicating and consulting with stakeholders

06/03/2015 Topic 2 – Business legal requirements

Topic 3 – Contractual rights and obligations

·         Business legal structures

·         Legislation and regulatory requirements associated with legal structures


13/03/2015 Topic 4 – Legislation, codes and regulatory requirements ·
3 20/03/2015 Topic 5 – Identify risks

Topic 6 – Analyse and evaluate risks

·         Strategies for identifying risks

·         Researching risks that apply to scope

·         Types of risk

·         Tools, techniques or methods used to identify risks

·         Risk analysis systems

·         Conducting the risk analysis

·         Risk analysis tools

·         Evaluating risks

·         Documenting assessment processes and outcomes

4 27/03/2015 Topic 7 – Treat risks

Topic 8 – Monitor and review effectiveness of risk treatments

·         Risk treatment controls

·         Identifying appropriate treatments

·         Preparing and implementing treatment plans

·         Monitoring and review of treatment plans

·         Improving treatment of risks

·         Monitoring and review management of risk

Unit of Competence: BSBRSK401AIdentify risk and apply risk managementprocesses

Elements and performance criteria

Element Performance Criteria
1.  Identify risks 1.1. Identify the context for risk management

1.2. Identify risks using tools, ensuring all reasonable steps have been taken to identify all risks

1.3. Document identified risks in accordance with relevant policies, procedures and legislation

2. Analyse and evaluate risks 2.1. Analyse and document risks in consultation with relevant stakeholders

2.2. Undertake risk categorisation and determine level of risk

2.3. Document analysis processes and outcomes

3.  Treat risks 3.1. Determine appropriate control measures for risks and assess for strengths and weaknesses

3.2. Identify control measures for all risks

3.3. Refer risks relevant to whole of organisation or having an impact beyond own work responsibilities and area of operation to others as per established policies and procedures

3.4. Choose and implement control measures for own area of operation and/or responsibilities

3.5. Prepare and implement treatment plans

4.  Monitor and review effectiveness of risk treatment/s 4.1. Regularly review implemented treatment/s against measures of success

4.2. Use review results to improve the treatment of risks

4.3. Provide assistance to auditing risk in own area of operation

4.4. Monitor and review management of risk in own area of operation


Required Skills and Knowledge

This section describes the skills and knowledge required for this unit.

Required Skills

  • Literacy skills sufficient to read and understand a variety of texts; and to write, edit and proofread documents to ensure clarity of meaning, accuracy and consistency of information
  • Research and data collection skills to monitor and evaluate risks
  • Problem-solving skills to appropriately address identified risks.

Required Knowledge

  • Australian and international standards for risk management
  • Key provisions of relevant legislation from all levels of government that may affect aspects of business operations, such as:
  • Anti-discrimination legislation
  • Ethical principles
  • Codes of practice
  • Privacy laws
  • Environmental issues
  • Workplace health and safety
  • Organisational policies and procedures relating to risk management processes and strategies
  • Auditing requirements relating to risk management.

 Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Context may include: ·       any related projects or organisations

·       any resources, including physical assets, which are vital to operations

·       key operational elements and service of the organisation

·       organisation or project, how it is organised and its capabilities

·       own role and responsibilities in relation to overall project or organisation design

Risks may include: ·       commercial and legal relationships

·       economic circumstances and scenarios

·       human behaviour

·       individual activities

·       management activities and controls

·       natural events

·       political circumstances

·       positive risk

·       technology – technological issues

Tools may include: ·       documentation to assist in process of identifying risk, and assessing impact and likelihood of occurrence

·       standard instruments developed for the organisation and contextualised for sections of the workplace’s operations, such as checklists and testing procedures

·       tools to prioritise risks, including where relevant, numerical scoring systems for risks

Stakeholders may include: ·       contractors

·       employees

·       financial managers

·       insurance agents

·       managers

·       public

·       service providers

·       suppliers

·       unions

·       volunteers

Risk categorisation may include: ·       likelihood of risks:

·       almost certain

·       likely

·       possible

·       unlikely

·       rare

·       consequences of risks:

·       insignificant

·       minor

·       moderate

·       major

·       catastrophic

·       current control measures

Level of risk may include: ·       low, treated with routine procedures

·       moderate, with specific responsibility allocated for the risk, and monitoring and response procedures implemented

·       high, requiring action, as it has potential to be damaging to the organisation or project

·       extreme, requiring immediate action, as it has potential to be devastating to the organisation or project

Control measures may include: ·       hierarchy of controls:

·       reduction in likelihood of risks

·       reduction of consequences of risks

·       retention of risks

·       risk aversion

·       transfer of responsibility of risks

Measures of success may include: ·       costs

·       reductions in impact

·       reductions in likelihood

·       reductions in occurrence


Evidence of the following is essential:

  • Identification, analysis and evaluation of risks
  • Demonstrated understanding of personal role in relation to wider organisational or project context
  • Demonstrated understanding of risk management processes and procedures.
Task Type Elements/Criteria Date Due
1 Project 1, 2, 3, 4 24 April 2015

Assessment task – Project

As a manager, or staff member, your role may require, among other things, the skills and knowledge to apply risk management processes.

A risk management plan contains the risks that have been identified through the risk management process, the level of risk assessed and the strategy for treating that risk. It should also document the strategies in place to communicate the risk information to stakeholders and the method for monitoring and reviewing risk information.

Prepare and submit a risk management plan for an activity (project, work area, department or the whole organisation if it is a small business) in your organisation, an organisation you are familiar with orStar Industries.


The risk management plan should include:


  • provide a brief description of the organisation, including organisational goals and objectives

Part 1 – Context of the risk management process

  1. Provide a brief description of the activity for which the risk management process will be applied. Be clear and concise, indicating the exact aim of the activity
  2. Identify the objectives of the activity (the risk identification exercise in Part 2 should relate directly to the impact on these objectives).
  3. Determine the scope of the risk management process, including:
    1. Parameters and boundaries of the risk assessment
    2. Risk categories (at least three)
    3. Criteria for assessing whether risks are acceptable or require treatment
  4. Identify the internal and external stakeholders who may be impacted by the activity for which the risk management process is being conducted.


Part 2 – Risk assessment

Conduct a risk assessment to identify, analyse and evaluate risks. The outcome of your risk assessment exercise should be documented in a risk register and annexed to the risk management plan.

  1. Risk identification

For each risk category:

  1. Identify the factors that should be considered and information sources used when researching risks that apply to scope
  2. Provide evidence of the tools, techniques or methods used to generate a list of risks that apply to the scope
  3. For each risk identified write a statement that defines the risk, and consider the possible causes and consequences (or impacts).
  4. Use a risk identification log to document the outcome of the risk identification exercise. The log should be annexed to the risk management plan
  5. Risk analysis and evaluation

For each risk, provide evidence of:

  1. The risk analysis system/processes and tools used to:
    1. Estimate the possible consequence or impact on objectives
    2. Estimate the likelihood of the risk occurring
  • Determine the level of risk
  1. The risk evaluation processes used to determine if risk treatment is required and rank the risk in order of priority
  2. Internal and/or external stakeholders participation in the risk analysis and evaluation
  3. Using the risk register to document the outcomes of your risk analysis and evaluation

Part 3 – Risk treatment and control

  1. For each risk provide evidence of:
    1. Selecting the most appropriate control (action) for treating the risk
    2. Developing and implementing risk treatment (or action) plans
    3. Referring risks having an impact beyond own work responsibilities and area of operation to an appropriate authority within the organisation
    4. Using a risk treatment plan template to document the outcomes of a, b and c. The risk treatment plan should be annexed to the risk management plan.

Part 4 – Monitoring and review

  1. Provide evidence of taking the appropriate measures to regularly monitor and reviewrisk treatment plans
  2. Provide evidence of how you would improve the treatment of risks using the review results
  3. Explain how you would ensure that all documentation relating to the risk management process is in order and appropriately stored.
  4. Outline your strategy for reviewing and monitoring the risk management process in your area of operation.



Submit your plan in academic/business style using title page, headings, header and footer, page numbers and table of contents. You may use graphs, images, tables and matrix to illustrate your plan. Do not exceed 1500 words. Include an introduction and a bibliography page (if applicable) at the end of the assignment. Use APA referencing. Do not plagiarise.

Grading criteria


Additional assessment information

Finding out Results Unit results may be accessed obtained from your teacher or using your log-on to Student e-Services. You should have received information about how to register for Student e-Services when you enrolled.
Dispute of Mark/grade If you do not agree with the mark/grade given for your assessment, you may appeal the assessment decision. You should first discuss the assessment result with your teacher. If you are not satisfied with the outcome of that discussion you can access the appeal process through the staff in the campus administration office.
Reasonable Adjustment If you have a permanent or temporary condition that may prevent you successfully completing the assessment task(s) you should immediately talk with your teacher about ‘reasonable adjustment’. This is the adjustment of the way you are assessed to take into account your condition and may include providing a support person or extra time. The assessment criteria cannot be altered.
Recognition of Prior Learning All TAFE students are eligible to apply for credit for previous formal, informal and non-formal learning. Refer to the Training and Education Support website for information about Credit pathways (Articulation, Credit transfer and Recognition of Prior Learning (RPL).   There is also a brochure widely available throughout the campus on RPL.
Policy on Late Assessment


Each case of student absence from an assessment event, or late submission of an assessment event, will be considered by the teacher on an individual basis. Students should endeavour to notify their teacher in advance where an absence will prevent them from attending, or submitting, a planned assessment event (e.g. class test, presentation, project, report, portfolio or assignment).   Unexpected absence and/or late submission due to illness, work commitments and/or other unforeseen misadventure MUST be supported by documented evidence (e.g. medical certificate, statements from employers etc.). If you fail to adequately notify and/or explain your absence/late submission penalties may apply as follows:

1.       If a student is late handing in an assessment event the following penalties may apply:

a.       Penalty A – if the assessment event is up to 7 days late the total mark is reduced by 15% OR the grade is reduced by one level, for example reducing a Distinction to a Credit or a submission may be eligible for a Pass grade only. Note: In Pass/Fail (or Ungraded Competency) units, penalty A will not apply.

b.      Penalty B – if the assessment event is more than 7 days late the mark is reduced to a zero OR the grade is reduced to a Fail/Not Competent for this event.

2.       No penalty will apply if the student has an acceptable reason and negotiates a new date with the teacher before the original due date, or if it is not possible, at the first attendance after the event or within 7 days (whichever is the sooner). The negotiated or revised date will become the due date and Penalties A or B (see above) will apply if the assessment event is not submitted by the revised due date. If extension is not accepted the original due date applies and the penalties will be as outlined.

3.       If the student does not attend a class test, presentation or other classroom-based assessment event on a negotiated date, Penalty B may apply.

4.       Failure in one particular assessment event may not necessarily mean a Fail in the unit. Is there a penalty for late submission of assessment tasks? What is the procedure if a student is absent on the day of an assessment event? For information about assessment in TAFE please see “Every Student’s Guide to Assessment in TAFE NSW” which was offered at enrolment and is available on the TAFE internet site at:



BSBRSK401A – Identifyrisk and apply risk management processes
Assessment Coversheet
Facilitator: Mounir El Ahmadieh


Contact: 0414 314 904
Assessment task: [insert task name here] Due Date




·         All assignments must have this cover sheet at the front

·         Please keep a copy of your assessment task and all attachments

·         Requests for extension should be made before the due date

·         Submit your assessment task to:

·         Receipt of your assessment task will be acknowledged within two working days

·         Feedback on your assessment task will be provided within two weeks

Participant Name:  
Extension Granted by

I certify that this assignment is entirely my own work, except where I have given fully documented references to the work of others and that the assignment, or substantial parts of it, has not been previously submitted for assessment in any formal course of study.

Signature: _______________________________________    Date:__________________

(submission from your email account is evidence of your signature)


Acknowledgement of receipt of assignment……………………………………………………………………………………………………………………

Signature:………………………………………………………………………………………..                 Date:………………………………………………………..

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