BSBRSK501 Fundamentals of Manage Risk

Task:

Task 1 - Document Organisational Risk

In 6-8 sentences, for your organisation OR for a case study provided in the assessment area undertake the following; 

Establish and document the risk context in your organisation by: 

1. Reviewing your organisation’s processes, procedures and requirements for risk management and writing a statement that examines each.  Sections covered by policies and procedures within the organisation could include financial risk, safety risk, theft, industrial relations, environmental, quality risks.

2. Determining and documenting the scope for risk management in your organisation. This could be in the form of policies or procedures and would describe the risk adversity of the organisation.

3. Identifying and documenting stakeholders and the possible issues that they may have with regards to risk management. External stakeholders could include suppliers, customers and internal stakeholders could include organisation owner, accounting department, human resource department, operation department, staff.

4. Reviewing and documenting the strengths and weaknesses of current risk management processes.

5. Creating and documenting a list of goals and critical success factors for risk management in your organization. 

6. Stating and documenting who you obtained support and assistance from. 

7. Providing evidence that your process was communicated to interested parties and that they were invited to contribute to its development.

For the organisation (your own or case study company) you have chosen in Task 1 undertake the following: 

Undertake a Risk Identification exercise in your department of your organisation by providing a documented list of the risks that are present within your department or section. Ensure that this list is documented in accordance with only relevant policies and procedures of the organisation. 

Ensure your submission includes: 

1 A documented list of risks that occur in your department or section.

2 Documents that show you used the risk identification techniques.  Some examples of the types of evidence you may provide include:

Brainstorming worksheets

Summaries of accident reports

A fault tree analysis

Summary of workshops

Current Arrangements

PEST Analysis

A completed SWOT analysis

Any other evidence you believe shows that you used appropriate methods and tools in your risk identification exercise.

Task 2– Identify: Cause, Impact and Likelihood

For the organisation you have chosen in Task 121 undertake the following:

Complete a table for ten risks that you identified in the previous activity. For each identify: 

1 The cause of the risk.

2 The potential impact of the risk.

3 How likely it is to occur, and categorise the risk as High, Medium, or Low.

4 Evaluate and prioritise risks for treatment.

Task 3– Devise Risk Management Plan

For your organisation or the Case study you chose in task 121 undertake the following in 6-8 sentences:

Devise an action plan for any five of the 10 risks you assessed in Tasks 1 and 2 by; 

1 Describe appropriate control measures for risks. 

2 Describe how you would evaluate risk management processes.

3 Describe how you would go about monitoring the treatment plan and how often monitoring should occur. 

4 Describe how you would communicate your action plan to others. 

5 Describe how you would ensure all documentation is in order and appropriately stored.

4 Describe how you would communicate your action plan to others. 

5 Describe how you would ensure all documentation is in order and appropriately stored.

Task 4 Written Questions (Please remember to write a minimum of 6-8 sentences for each)

1 List the relevant legislation and codes of practice in relation to risk management and provide a one sentence summary of each of these, including the AS/NZS ISO 31000:2009 Risk management – Principles and Guidelines. 

2 Outline the purpose and key elements of current risk management standards 

3. Outline organisational policies, procedures and processes for risk management