BSBRSK501 Manage Risk Learner Workbook

This document provides the foundation skills, assessment requirements, and assessment tool definition list for BSBRSK501 Manage Risk. It includes elements for competency demonstration, performance evidence, foundation skills, and knowledge evidence. The assessment must be conducted in a safe environment with access to relevant legislation, regulations, standards, and codes. The learner must demonstrate their ability to establish risk context, identify risk, analyze risk, select and implement treatments, and maintain documentation.

BSBRSK501
Manage risk
Learner Workbook
Student’s Name:
Who is your
Trainer:
Date: 06/07/2018
Teacher Remarks:
Syed Saqib
Hussain
Meenu Sharma
Dharna
Vyas

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Assessment criteria for BSBRSK501
Manage Risk
In this document, you will find the foundation of what is required to become competent in this unit.
For further information on each element, you can refer to the Assessment Matrix. Included in this
document are the elements for the unit, foundation skills, assessment requirements as well as an
assessment tool definition list and the crucial observation and third party check lists. As well as all of
the areas covered here, each student must also complete all workbook activities, case studies and
major activities, where stated, to become competent within this unit.
NOTE – Re-assessment:
Students will have amaximum of two (2) reassessments attempts if competency is not achieved in
the first instance.
The final grade of ‘C’ for Competent or ‘NC’ for Not Competent is only given at the completion of
the unit of competency when all components or parts of the assessment are graded as ‘S’ for
Satisfactory. Unsatisfactory results are marked as NS.
Elements for Competency Demonstration
Elements for Competency Assessment:
1. Establish risk context
2. Identify risk
3. Analyse risk
4. Select and implement treatments

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Performance Evidence:
Evidence of the ability to:
 Analyse information from a range of sources to identify the scope and context of the
risk management process including:
o Stakeholder analysis
o Political, economic, social, legal, technological and policy context
o Current arrangements
o Objectives and critical success factors for the area included in scope
o 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
Foundation Skills:
Reading
 Comprehends a variety of relatively complex texts
 Gathers, interprets and analyses textual information from a range of sources to
identify relevant information
Writing

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 Develops textual material and organises content in a manner that effectively
documents risk management analysis and assessment priorities and processes
Oral communication
 Participates in interactions with stakeholders using questioning and listening to elicit
opinions, and to confirm and clarify understanding
Numeracy
 Uses numerical tools to assess risk and uses numerical data to review plans
Navigate the world of work
 Refers to organisational processes, procedures and requirements when making
decisions about risk management
Interact with others
 Establishes and uses appropriate conventions and protocols when communicating
with stakeholders about risk management
 Consults and negotiates with stakeholders about risk management processes and
outcomes

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Get the work done
 Sequences and schedules a range of routine and complex activities, monitors
implementation, evaluates processes and manages relevant communication
 Systematically analyses information to decide on appropriate risk management
treatments
 Uses digital technologies and systems to access information, document plans and
communicate with others
Knowledge Evidence:
To complete the unit requirements safely and effectively, the individual must:
 Outline the purpose and key elements of current risk management standards
 Outline the legislative and regulatory context of the organisation in relation to risk
management
 Outline organisational policies, procedures and processes for risk management
Assessment Conditions:
Assessment must be conducted in a safe environment where evidence gathered demonstrates
consistent performance of typical activities experienced in the regulation, licensing and risk - risk
management field of work and include access to:
 Relevant legislation, regulations, standards and codes
 Relevant workplace documentation and resources
 Case studies and, where possible, real situations
 Interaction with others.
Assessors must satisfy NVR/AQTF assessor requirements.

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Links:
Companion volumes available from the IBSA website: http://www.ibsa.org.au/companion_volumes -
http://www.ibsa.org.au/companion_volumes

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Any observations and practical assessments must be recorded in the observation checklist. All
practical tasks should be demonstrated during the length of the course. As the instructor, you must
maintain a record demonstrating the date of the practical activities and any comments relevant to the
performance of each student. Where a student is not able to demonstrate competence in a practical
observation activity, further questioning should be put in its place.
As the instructor, you could be assessing the student’s literacy, numeracy and language skills, as well
as the content and context of his/her answers.
In some cases, you will have to adjust and amend the assessment tools, using different and varied
methods (such as oral assessment), to allow students to be assessed according to their needs and
abilities.

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Assessment Tool Definitions
Assessment Tool How is it used? What is it?
Learner Workbook Activities
(Entire completion is required)
Each student should be given a Learner Workbook which
will hold a number of activities, both formative and
summative, that all need to be completed in conjunction
with the appropriate sessions. The PowerPoint, Learner
Guide and instructor should provide further information
to help with the activities.
Observation/Demonstration
(To be completed for each numbered point as
stated on the checklist)
An observation should be completed for each of the
students by the instructor. If the tasks aren’t everyday
actions, a simulated environment is acceptable or a
demonstration can be set up. An observation checklist can
be found at the end of this document.
Major Activity
(Entire completion is required)
A Major Activity is a summative assessment and can be
found in the Learner Workbook, after all of the activities
are completed. This is an extended piece of summative
assessment which should take anywhere between 1-2
hours and every student should complete this work. It is a
requirement for each unit to check knowledge and
understanding.
Skills and Knowledge Activity
(Entire completion is required)
A Skills and Knowledge Activity is a summative
assessment and is found before the Major Activity in the
Learner Workbook. This should take between 1-2 hours
and every student should complete this work. It is a
requirement for each unit to check knowledge and
understanding of the foundation skills and knowledge
evidence.
Third Party
(To be completed for each numbered point as
stated on the checklist)
A Third Party checklist is very similar to an Observation
Checklist in its format, but it can be completed by
someone who works with the learner and has witnessed
them completing tasks which coincide with the elements
of the unit. The checklist can be found at the end of this

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document.
Case Study
(Entire completion is required)
Not all units will have Case Studies but those that do will
be clearly stated within the PowerPoint and the Learner
Workbook. It will appear as any other activity but it will
be named ‘Case Study’ and will provide an example of a
possible real life situation for the learner to read, interpret
and then answer questions on.
Learner Guide
(To be used as an informational guide)
The Learner Guide links with the Learner Workbook as it
provides the information given during sessions and more.
It can help students to further their knowledge and to also
complete the activities.
Evidence Document
(Not a necessity for completion of unit but can be
used as an aid or to collect further evidence)
The Evidence Document lists all of the Elements and
Performance Criteria with an area for written reports etc,
to add evidence to the student’s portfolio. It can be used
for any of the performance criteria, especially those which
may not have been covered by any other assessment tool.
The student can circle a number of the criteria that they
may feel they need further evidence of or it can be used as
a guide for completing further Observations and Third
Party reports.

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Observation/Demonstration
Throughout this unit, the learner will be expected to show their competency of the elements through
observations or demonstrations. The observations and demonstrations will be completed as well as the
formative and summative assessments found in the Learner Workbook. An explanation of
demonstrations and observations:
Demonstration is off-the-job
A demonstrationwill require:
 Performing a skill or task that is asked of you
 Undertakinga simulation exercise
Observation is on-the-job
The observation will usually require:
 Performing a work based skill or task
 Interaction with colleagues and/or customers
The observation/demonstration will take place either in the workplace or the training environment,
depending on the task to be undertaken and whether it is an observation or demonstration. Each task
must be observed. You will need to ensure you provide the learner with the correct equipment and/or
materials to complete the task. You will also need to inform the learner of the time they have to
complete the task; this will once again vary, depending on the task.
Learner should be able to demonstrate they can:
 Establish risk context
 Identify risk
 Analyse risk

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 Select and implement treatments
Learners should also demonstrate the following skills:
 Reading
 Writing
 Oral communication
 Numeracy
 Navigate the world of work
 Interact with others
 Get the work done

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Observation/Demonstration Checklist
Candidate’s Name
Assessor or Observer’s Name
Unit of Competence
(Code and Title)
BSBRSK 501 Manage Risk
Date of Assessment 06/07/2018
Location 75 Gozzard Street, Gungahlin 2912 ACT, Australia.
Demonstration Tasks Completed
Materials and Equipment Provided
Tasks to be observed, demonstrated or
simulated if appropriate
Yes No Comment
1. Establish risk context:Did the learner
demonstrate that they could review
organisational processes, procedures and
requirements for undertaking risk
managementin accordance with current risk
management standards?
2. Establish risk context:Did the learner
demonstrate that they coulddeterminescope
for risk management process?
3. Establish risk context:Did the learner
demonstrate that they couldidentify internal
Syed Saqib
Hussain
Meenu Sharma
Dharna
Vyas

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and external stakeholders and their issues?
4. Establish risk context:Did the learner
demonstrate that they couldreview political,
economic, social, legal, technological and
policy context?
5. Establish risk context:Did the learner
demonstrate that they couldreview strengths
and weaknesses of existing arrangements?
6. Establish risk context:Did the learner
demonstrate that they coulddocument critical
success factors, goals or objectives for area
included in scope?
7. Establish risk context:Did the learner
demonstrate that they couldobtain support for
risk management activities?

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8. Establish risk context:Did the learner
demonstrate that they couldcommunicate with
relevant parties about the risk management
process and invite participation?
9. Identify risk:Did the learner demonstrate that
they couldinvite relevant parties to assist in the
identification of risks?
10. Identify risk:Did the learner demonstrate that
they couldresearchrisks that may apply to
scope?
11. Identify risk:Did the learner demonstrate that
they couldusetools and techniques to generate
a list of risks that apply to the scope, in
consultation with relevant parties?
12. Analyse risk: Did the learner demonstrate that
they couldassess likelihood of risks occurring?
13. Analyse risk: Did the learner demonstrate that
they couldassessimpact or consequence if
risks occur?
14. Analyse risk: Did the learner demonstrate
they can evaluate and prioritise risks for
treatment?
15. Select and implement treatments: Did the
learner demonstrate that they coulddetermine
and select most appropriate options for
treating risks?
16. Select and implement treatments: Did the

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learner demonstrate that they coulddevelop an
action plan for implementing risk treatment?
17. Select and implement treatments: Did the
learner demonstrate that they
couldcommunicate risk management processes
to relevant parties?
18. Select and implement treatments: Did the
learner demonstrate that they couldensure all
documentation is in order and appropriately
stored?
19. Select and implement treatments: Did the
learner demonstrate that they couldimplement
and monitor action plan?
20. Select and implement treatments: Did the
learner demonstrate that they couldevaluate
risk management process?
The candidate’s
performance was:
Not Satisfactory Satisfactory
Further Comments:

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Candidate’s Signature

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Assessor/Observer’s
Signature

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Support Questions for observation checklist
Candidate’s Name
Assessor or Observer’s Name
Unit of Competence
(Code and Title)
Date of Assessment
Location
The candidate’s performance was: Not Satisfactory Satisfactory
Client Feedback

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Candidate’s Signature
Assessor/Observer’s
Signature

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Third Party Reports
The Third Party Report should be completed by a senior member of staff i.e. a supervisor or manager,
where possible. The report should cover the points below, with a description to show that the tasks
have been witnessed over time, while working with the learner. Examples, times, dates etc. should be
included, if possible.
As this unit is about managing risk, you will need to have witnessed the learner within a working or
training environment:
1. Establishing risk context
2. Identifying risk
3. Analysing risk
4. Selecting and implementing treatments.
Ticking yes/no next to the tasks is required, as well as an accompanying report.

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Third Party Checklist
Candidate’s Name
Assessor or Observer’s Name
Unit of Competence
(Code and Title)
Date of Assessment
Location
Demonstration Tasks
Materials and Equipment
Tasks to be simulated if not witnessed over time: Yes No
1. Did the learner review organisational processes, procedures and
requirements for undertaking risk managementin accordance with
current risk management standards?
2. Did the learner determine scope for risk management process?
3. Did the learner identify internal and external stakeholders and their
issues?
4. Did the learner review political, economic, social, legal, technological
and policy context?
5. Did the learner review strengths and weaknesses of existing
arrangements?
6. Did the learner document critical success factors, goals or objectives
for area included in scope?

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7. Did the learner obtain support for risk management activities?
8. Did the learner communicate with relevant parties about the risk
management process and invite participation?
9. Did the learner invite relevant parties to assist in the identification of
risks?
10. Did the learner research risks that may apply to scope?
11. Did the learner use tools and techniques to generate a list of risks that
apply to the scope, in consultation with relevant parties?
12. Did the learner assess likelihood of risks occurring?
13. Did the learner assess impact or consequence if risks occur?
14. Did the learner evaluate and prioritise risks for treatment?
15. Did the learner determine and select most appropriate options for
treating risks?
16. Did the learner develop an action plan for implementing risk
treatment?
17. Did the learner communicate risk management processes to relevant
parties?
18. Did the learner ensure all documentation is in order and appropriately
stored?
19. Did the learner implement and monitor action plan?
20. Did the learner evaluate risk management process?
The candidate’s
performance was:
Not Satisfactory Satisfactory

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Further comments:
Candidate’s Signature
Assessor/Observer’s
Signature

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Third Party Evidence
Confidential Information
Name of Candidate
RTO:
Unit(s) of Competence
As part of the assessment for the units of competency, we are seeking evidence to support a judgment
about the candidate’s competence.As part of the evidence of competence we are seeking reports from
the supervisor and other people who work closely with the candidate.
Name of the supervisor:
Workplace:
Address:
Phone:
Do you understand which evidence/tasks the candidate has Yes No
provided/performed that you are required to comment on?
As the assessor explains the purpose of the candidates Yes No
assessment?
Are you aware that the candidate will see a copy of this form? Yes No
Are you willing to be contacted should further verification of thisYes No
statement be required?

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What is your relationship to the
candidate?
How long have you worked with the
person being assessed?
How closely do you work with the
candidate in the area being
assessed?
What is your technical experience
and/or qualification (s) in the area
being assessed?(Include any
assessment or training
qualifications.)
Does the candidate:
Perform tasks to the industry standards? Yes No
Managed job tasks effectively? Yes No
Implement safe working practices? Yes No

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Solve problems on the job? Yes No
Work well with others? Yes No
Add that to new tasks? Yes No
With unusual or non-routine situations? Yes No
Overall do you believe the
candidate conforms to the
standard required by the unit
of competency on a consistent
basis?
Identify any training needs for the candidate:
Any other comments:

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Table of Contents
Table of Contents.................................................................................................................................2
Candidate Details.................................................................................................................................3
Assessment – BSBRSK501: Manage risk......................................................................................3
Competency Record to be completed by Assessor.........................................................................4
Observation/Demonstration................................................................................................................5
Activities...............................................................................................................................................6
Activity 1.1.1 – 1.1.3.....................................................................................................................6
Activity 1.2.1 – 1.2.3.....................................................................................................................8
Activity 1.3.1 – 1.3.4...................................................................................................................10
Activity 1.4.1...............................................................................................................................13
Activity 1.5.1...............................................................................................................................15
Activity 1.6.1 – 1.8.1...................................................................................................................16
Activity 2.1.1 – 2.3.1...................................................................................................................18
Activity 3.1.1 – 3.3.2...................................................................................................................20
Activity 4.1.1 - 4.1.2....................................................................................................................23
Activity 4.2.1 – 4.3.1...................................................................................................................25
Activity 4.4.1 – 4.4.2...................................................................................................................26
Activity 4.5.1 – 4.5.2...................................................................................................................27
Activity 4.6.1...............................................................................................................................28
Skills and Knowledge Activity....................................................................................................29

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Major Activity.............................................................................................................................30

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Candidate Details
Assessment – BSBRSK501:Manage risk
Please complete the following activities and hand in to your trainer for marking. This forms part of
your assessment for BSBRSK501:Manage risk.
Name: _____________________________________________________________
Address: _____________________________________________________________
_____________________________________________________________
Email: _____________________________________________________________
Employer: _____________________________________________________________
Declaration
I declare that no part of this assessment has been copied from another person’s work with the
exception of where I have listed or referenced documents or work and that no part of this assessment
has been written for me by another person.
Signed: ____________________________________________________________
Date: ________________________06/07/2018________________________
If activities have been completed as part of a small group or in pairs, details of the learners
involved should be provided below:
This activity workbook has been completed by the following persons and we acknowledge that it was
a fair team effort where everyone contributed equally to the work completed. We declare that no part
of this assessment has been copied from another person’s work with the exception of where we have

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listed or referenced documents or work and that no part of this assessment has been written for us by
another person.
Learner 1: ____________________________________________________________
Signed: ____________________________________________________________
Learner 2: ____________________________________________________________
Signed: ____________________________________________________________
Learner 3: ____________________________________________________________
Signed: ____________________________________________________________

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Competency Record to be completed by Assessor
Learner Name: _______________________________________________________
Date of Assessment: ___________________06/07/2018________________________
The learner has been assessed as competent in the elements and performance criteria and the evidence
has been presented as:
Assessor Initials
Authentic C
Valid C
Reliable C
Current C
Sufficient C
Learner is deemed: COMPETENT NOT YET COMPETENT(Please circle)
If not yet competent, date for re-assessment: ____________________________________
Comments from Trainer / Assessor:
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________

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__________________________________________________________________________________
__________________________________________________________________________________
Assessor Signature:
________________________________________________________

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Observation/Demonstration
Throughout this unit, you will be expected to show your competency of the elements through
observations or demonstrations. Your instructor will have a list of demonstrations you must complete
or tasks to be observed. The observations and demonstrations will be completed as well as the
activities found in this workbook. An explanation of demonstrations and observations:
Demonstration is off-the-job
A demonstration will require:
 Performing a skill or task that is asked of you
 Undertaking a simulation exercise
Observation is on-the-job
The observation will usually require:
 Performing a work-based skill or task
 Interaction with colleagues and/or customers
Your instructor will inform you of which one of the above they would like you to do. The
demonstration/observation will cover one of the unit’s elements.
The observation/demonstration will take place either in the workplace or the training environment,
depending on the task to be undertaken and whether it is an observation or demonstration. Your
instructor will ensure you are provided with the correct equipment and/or materials to complete the
task. They will also inform you of how long you have to complete the task.
You should be able to demonstrate you can:
1. Establish risk context

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2. Identify risk
3. Analyse risk
4. Select and implement treatments
You will also need to show:
 Reading
 Writing
 Oral communication
 Numeracy
 Navigate the world of work
 Interact with others
 Get the work done
Activities
Activity 1.1.1 – 1.1.3
Estimated Time 30 Minutes
Objective To provide you with an opportunity to review organisational processes,
procedures and requirements for undertaking risk management in
accordance with current risk management standards.
Activity What is the difference between the new ISO13000 and AS/NZS
4360:2004?
The ISO 31000:2018 helps organizations to identify the different targeted
objectives, which helps in enumerating the opportunities and the threats. The
standard also helps the organizations in enumerating the different risk factors

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and thereby facilitates them with strategies to overcome the uncertainties.
The AS/NZS 4360:2004 is a standard that is adopted by the government of
Australia to ensure the smooth functioning of the organizations on the basis of
risk assessment and management.
Briefly outline the legal framework.
The standards emphasize on the development of a proper set of guidelines that
is aimed at assisting organizations for managing the risks. The framework
assures that the process is supportive and effective which means that risk
management. It insisted on the most important component of governance,
strategic planning, management and monitoring over the activities. It also helps
in allocating the appropriate resources.

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Case study: Christine Finkel worked13 hours a day, six days a week for
three months. She noted that the floor was slippery but decided to help a
customer before taking steps to clear the area. By the time that Christine
returned to the area, she had forgotten that the floor was wet. Christine
fell and broke her leg.
What unsafe behaviour have you identified here?
Christine was working in the organization for the past three months; however,
the rules and timings of the business has affected the functioning of
Christine. The issue that was faced by Christine was due to her
callousness while attending to the needs of a client of the organization.
Christine forgot that the floor was wet and thereby she fell, which
clearly helps in identifying the unsafe behaviour.

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What could be the impact of Christine’s situation to the organisation?
The organization could have helped in bringing forth changes in the situation
through the involvement of the health and safety and security policies of the
workforce. It would have helped the organization in bringing forth changes in
the systems of the business operations.

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What would you do if you took a job as a supervisor and walked into a
similar situation?
Being the supervisor of the organization i would take steps to communicate the
issues to the higher authorities and thereby take part in the formulation of
different policies which will be helping the organization to maintain the safety
standards of the business.

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Activity 1.2.1 – 1.2.3
Estimated Time 30 Minutes
Objective To provide you with an opportunity to determine scope for risk
management process.
Activity Do you believe understanding the different types of risk can assist you in
defining the scope?
The identification of the different types or risk helps in maintaining the
understanding of the objectives of the organizational change. It helps
in the identification of the scope of the change and to which degrees
the organization might apply the change as per the capabilities of the
business.
When writing the scope, what should the writer consider?

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The writer must consider the different aspects of the project, goals,
objectives and the activities that are undertaken by the organization as
it helps in maintaining the varied amount of changes in the systems of
the business.

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What needs to be evaluated and why?
Based on your outline in the previous question, use your knowledge of
your own organisation, or an organisation that you know, to write a brief
scope of risk management. (Note: if you work or have worked in a large
organisation, you can use this question to write a scope for a project you
work on or have worked on) – In your answer, briefly explain the
organisation or project.
The creation of the risk assessment is based on the evaluation of:
 The process, goals, activities, and the processes adhered by the
organization
 Duration of the projects
 Scope of the activities
 Function of the departments

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Activity 1.3.1 – 1.3.4
Estimated
Time
30 Minutes
Objective To provide you with an opportunity to identify internal and external
stakeholders and their issues.
Activity List three internal stakeholders that you may find in an organisation.
The three internal stakeholders of the organization are:
 Employees
 Managers
 Managing director

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List four external stakeholders that may be associated with an organisation.
The external stakeholders of the organization are;
 Government
 Customers
 Investors
 Suppliers

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In the chart below, identify three stakeholders, state their objectives

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towards your organisation, or an example organisation, in terms of risk
management (i.e. supplier believes goods loaded onto an unsafe delivery
dock). Who is your contact with the supplier and how would you consult
with them? What are the recommended feedback and consultation
procedures with them?
Case study: In recent months, your organisation has grown as demand for
Stakeholder Objective/s Contact Feedback and
consultation
Investors
To invest for the
welfare of the
organization
Agents Identification of the
market trends
Departmental
Managers
To increase the
efficiency of the
various
departments
Company
database
The identification of
the different needs of
changes in the
departments to avoid
the risk factors
Employees
To adhere to the
objectives of the
business to
expand through
quality and
productivity
Company
database
The issues that are
faced by the
employees while
performing their job
role in the respective
units.

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the product has increased. In turn, the number of deliveries from one of
your suppliers has increased. Your organisation has established a strong
relationship with one driver, Nick, and he is the only one able to deliver
goods to the organisation due to the volatility of the goods delivered. Do you
believe that the driver is put at risk? Why?
The incident might be affecting the proper performance of the organization as
the business solely depended on the proper functioning of the driver as per the
objectives of the business. It has affected the functioning of the business while
operating in the international markets.
What could the impact of the increase of deliveries have on the supplier?

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The increase in the number of deliveries might create issues for the suppliers foe
the increased frequency of the supplies that are required to be undertaken.
The supplier contacts you and asks you to change your driver policy as the
driver has complained. What is this called? How would you resolve this
problem?
The problem that is faced by the organization based on the limited supply of the

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drivers can be mitigated through the recruitment of new drivers in the workforce.
It will be helping the organization to reduce the dependence of the same on a
single driver.

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Activity 1.4.1
Estimated Time 30 Minutes
Objective To provide you with an opportunity to review political, economic, social,
legal, technological and policy context.
Activity Gather into small groups for the following group activity:
Choose an example organisation and make a list of at least one change in
the following areas that will impact on the organisation’s risk
management processes. What steps would you take to ensure that your
work area is safe in regard to risk?
The areas are:
Political
The flexibility of the company legislature will be helping the same in
undertaking ventures in the different market conditions and thereby actively
participate in the legislations of the different operational markets.

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Economic
The identification of the economic conditions of the operating markets will be
helping the business to plan the processes of the business. It helps the
organization in identifying the fluctuations of the market and the manner in
which the proper understanding of the needs of the organization is emphasized.
Social
The identification of the culture and the background of the people helps in the
identification of the different preferences of the customers in the market. The
key elements of the change in the systems of the business are affected through
the identification of the interests of the consumers and the manner in which

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they can be aligned to the offerings of the business.
Legal
The legal aspects that are required to be adhered by the organization is
dependent on the identification of the ethical standpoints which helps in
maintaining the proper functioning of the business systems in the market.

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Technological
The technological innovations help in maintaining the different levels of
changes in the systems of the business and their respective undertakings. The
change in the technologies of the organization will be helping the organization
to bring in changes in the systems of the business.

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The policy context
The policy that is framed by the organization will be helping the same to bring
in positive changes in the systems of the business through the application of
new ideas. The ideas will be aimed at understanding the mitigation steps to
facilitate the proper functioning of the systems of the business.
Activity 1.5.1
Estimated Time 30 Minutes
Objective To provide you with an opportunity to review strengths and weaknesses

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of existing arrangements.
Activity Complete a SWOT analysis of an organisation that you know well.
Strengths
 Good brand name of the
organization
 Huge financial resources
Weaknesses
 Lack of team bonding
 lower levels of customer
preference
Opportunities
 the organization has an
opportunity to capture
more market and the supply
chain
 competitive advantage of
the organization
 expansion in the
international markets
Threats
 Intense competition in the
market
 Threat of new entrants
Is the organisation internally or externally driven? Why?

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The organization is externally driven as the management of the business has
taken several steps to keep the workforce motivated. It has helped the business
in maintaining the proper functioning of the systems, which has helped the
same in undertaking continuous innovations and expansions while operating in
the international markets.

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Activity 1.6.1 – 1.8.1
Estimated Time 45 Minutes
Objective To provide you with an opportunity to document critical success factors,
goals or objectives for area included in scope; obtain support for risk
management activities; and communicate with relevant parties about
the risk management process and invite participation.
Activity Use the following critical success factors and document how you would
ensure that your organisation’s (or example organisation’s) performance
improves. The CSFs are:
Trust
The trust of the leaders on the subordinates helps in maintaining the proper
functioning of the systems that are planned by the management of the business.
The identification of the trust factors has helped in managing the workforce
and thereby motivating and encouraging the same.
Organisational culture

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The identification of the organizational culture helps the business at the time of
formulating the policies which are aligned to the objectives and the interests of
the business while operating in the international markets.
Management support
The support of the management helps the organization in encouraging the
involvement of the employees in the processes that are planned by the same for
the progression in the competitive market structure.
Communication
Communication and interaction helps in the identification of the issues that are
faced by the workforce and thereby bring forth changes in the systems of the
business while operating in the international markets.

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How can you know if you have handled the CSFs correctly?
I believe that the organization will be undertaking proper communication with
each other. It will be helping the organization to bring in changes in the
systems of the business operations.
For one of the CSFs ask the relevant personnel (or trainer, if not working
for an organisation) for support in managing associated risks and briefly
document this.
The proper interaction with the HR manager of the organization helps in
maintaining the different levels of changes in the systems of the business while
operating in the international markets.
Discuss the associated risks for the CSF, as mentioned in the last question,
with those involved, or with two other persons from your training group,

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and note the outcome of this.
The risks that might be faced by the organization through the utilization of the
CSF is based on the miscommunications and the manner in which the inter-
trust factors is taken for granted by the workforce. It affects the productivity of
the organization in a larger scale.
Activity 2.1.1 – 2.3.1
Estimated Time 40 Minutes
Objective To provide you with an opportunity to identify risks.
Activity Identify a risk in your work area or example work area (this can be a
possible risk if there are no risks requiring improvement).
What is the risk?
The risk that might be faced by the organizations are based on the applicability
of the changes in the structure and the functioning of the business. it helps in

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maintaining the balance of the performance of business while operating in the
international markets. The lost documents and data from the computers of the
accounting department due to virus attack affects the functioning of the
organization in the market.
Provide details of the problem.
The seizure of the data files from the computers of the organization might
affect the current operations that are planned by the business.
Who would you discuss this problem with?
If was given the authority, i would have consulted the IT departments for the
proper understanding of the needs of the management to take steps to reduce
the possibility of data theft.
What type of research would you do to measure the level of risk?

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Quantitative research methods will be followed for conducting a study on the
impacts of the problem. A questionnaire will be created and circulated among
the employees for identifying the root cause of the issue and thereby mitigate
the same.
What documentation could you use?
The risk assessment plans that will be formulated by the organization will be
falling under the legal proceedings of the government as per the legal
commitments.
What literature would you research?
The journals related to the risk management will be researched for
understanding the different prospects of the research. It will be helping the
researcher in undertaking an unbiased research study.
Invite other members of your team/training group to also help identify
any risks and note down the outcome of this.
The risks that might be encountered by the organization while undertaking the

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changes are based on the proper functioning of the systems and the practices as
per the objectives of the business.
Consultation is an important part of the risk analysis; in what ways can
you gather information from stakeholders in this instance?
Insurance officers will be providing certain information to the management of
the organizations as per the concerns of the assessments. The consultation with
varied people helps the organization in undertaking proper functioning of the
processes.

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Activity 3.1.1 – 3.3.2
Estimated
Time
45 Minutes
Objective To provide you with an opportunity to analyse risks.
Activity Using the research from Activity 2.1.1-2.3.1, complete the following:
Likelihood
 Probability of a given risk occurring, such as:
o Almost Certain (exposed to hazard constantly)
o Likely (exposed to hazard occasionally)
o Unlikely (could happen but only rarely)
o Highly unlikely (could happen but probably never will).

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Moderate Injury consequences & possible likelihood form part of standard
Risk Management but you can decide if they meet your requirements.
Consequences may be rated as:
a) A fatality
b) Major or serious injury (serious damage to health that may be
irreversible, requiring medical attention and ongoing treatment). This
is likely to involve significant time off work;
c) Minor injury (reversible health damage that may need medical
attention but limited ongoing treatment). This means that it is less
likely to spend more than a day off work.
d) Negligible injuries (might sustain slight injury and may require only
primary first aid) and no time off work
Assess the risk
What is the likelihood of this problem arising again?
It is likely that the problem might arise again. The SAI regulations have not been
properly considered in the initial phase. Hence such hazards are likely to occur
occasionally. In order to avoid the risks of workplace hazards, it is necessary to re-
establish the security system thoroughly.

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What are the possible consequences of this risk?
There are rare chances of a fatality. However, the chances are always there. As it
seems there are chances of frequent minor injuries. On an odd day, it might take
the shape of a disaster also. In that case the number of minor as well as minor
injuries might increase.
Evaluate and priorities risks for treatment?
The risks that have chances of occurring occasionally, should be on the top of
priority level. These risks hamper the productivity of the workforces. The
deliverables do not reach the clients on time as an impact of such injuries.
Hence, priority should be given to such risk for treatment purpose. Negligible
injuries should not have any high impact on the organisation.

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What risk priority would you consider?
I would consider a high risk priority. This is obvious that such occasions might
arise frequently within the organisation. Hence the management should consider
the situation with immediate effect. This is because such risks and the hazards
arising out of such risks are having a negative impact upon the organisational
performance.

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What opportunities do you think there are in your case? How can these
opportunities be used?
Generally routine procedures would have sufficed the issues. However, the
management are liable to ensure that such issues do not arise again. Hence,
there is scope of moderate responsibility in this case. The management
should organize frequent meetings with various levels of employees to
realize the causes behind the risks. After realizing the causes the
management should identify the employees who are most exposed to risks.
After that, action plan for risk management is to be formulated and a risk

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assessment template is to be maintained. This would show, up to what
extent the risk has reduced.

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Activity 4.1.1 - 4.1.2
Estimated Time 30 Minutes
Objective To provide you with an opportunity to determine and select most
appropriate options for treating risks.
Activity Using the Hierarchy of Control Pyramid to identify ways in which to
eliminate, control or minimise the hazard used in the Activity 2.1.1-2.3.1 and
3.1.1-3.3.2:
Suggest at least one way of handling the risk for each step of the process:
 Elimination
Based on the World Health Organisation’s Code for Workplace Practice, risk
elimination is the most feasible step that can be taken in this regard. In order to

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do that time and other resource is mandatory (Wilson, Mosher & Simmons,
2017). However, since the organistion cannot afford to invest resources in plenty
at this moment, owing to the ongoing production phase of the business
operations, the steps like prompt repairment of the deamaged equipmentsor
removal of the hazardous equipments can be considered. This would reduce the
risk of human error in handing hazarduous resources and the level of risk can
thus be reduvced by elimination.
 Substitute or modify
The phase of substitution wou;ld come acfter the action plan for the risk
impairment have been completed. In the substitution phase, the
company’smanagement can decide to replace the manual package lifting facility
with an automated computerised lifting facility (Akpan. & Nnamseh, 2014).
Howvever, this substitution is posible afyter this production phase is over. The
section of employees wjho are mostly exposed to the risk of manula lifting and
manula relallocation nof the deliverables have to be iden+tifuied at first for the
substitution activity to take place. Besides, budget allocation is also difficult at
the middle of the production phase.

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 Isolate
The isolation phase becomes critical if the substitution phase cannot be carried
out with immediate effect. The main work area has to be kept temporarily closed
(Rahadianto, Fariza & Hasim, 2015). The work equipmentys have to be shifted to
a reserved area and the repairment phase have to be executed with immediate
effect so that work hours are not wasted.
 Engineering controls
The shifting phase have to be planned in a peoper way. Engineering controle
have to be wisely installed, so as to waste least time and other resources. In this
phse, the installation of guarding for the machine3ries is very essential. The
workplace have to be partially evacuated during the repairment phase.

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 Administration controls
the main task of administration controls is to manoeuvour if the other phases and
practices are excuted preoperly and under least risk. The implementation of the
other phases are mainly monitered by the administration (Jbara, 2018). All work
equipmemnt for the other phasese are to be properly allocated during
administration controls and a discrete education as well as supervision program
for the contractors givenm the responsibility dfor the work have to be carried out.
The action plan monitoring phase include the tasks of administrative controls.
 PPE
The use of PPE is not relevant in this case. The monitoringm plan of the
management would cover the requirements of the PPE activities (Teklitz, 2016).
The PPE program would be required if the same risk show up within an estimatd
period after the repairing program. Hence, a PPE factsheet is to be kept prepared
by the copmncerned steerinhg committee for the risk mitigation program.

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What control would you recommend? Why?
I recommend controlling the pro active phase of the task that is the substitution
and the elimination nphases. Considering the need of risk here, it is essential that
these two phases be well monitered.

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Activity 4.2.1 – 4.3.1
Estimated Time 45 Minutes
Objective To provide you with an opportunity to develop an action plan for
implementing risk treatment.
Activity Briefly explain the risk action plan for this assessment.
In the initial phase, the objectives of risk mitigation have to be identified. The
goals of the risk management have to be identified at first. The risk levels have
to be kept in mind for that. In this step a clear statement is required regarding
how the risks are hampering the organisations’ resources. Accordingly, a
budget planning for risk mitigation have to be set. The organisation have to
face risks in the delivery arena, arising out of manual shifting facilities
(Iftikhar et al. 2018). The facilities have not been maintained for a long time.
The lives of the workers of that department are at stake. The management
would give the responsibility of renovation of the departmental facilities to an
external contractor. A steering committee have been framed by the
management which involves members from the team of the external
contractors as well. The risk are structured as s set of LOD for the external
contractor. The evaluation plan template of the management for the
monitoringof risk have to be filled by members of the steering committee. The
timeframe that has been considered for the task is 5 months. After that the task
is to be partially kept closed. in the next spring, the work would resume again.

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Group activity; in groups of three/four, take turns in briefly discussing
your risk action plan.

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Activity 4.4.1 – 4.4.2
Estimated Time 30 Minutes
Objective To provide you with an opportunity to ensure all documentation is in
order and appropriately stored.
Activity Individually or in pairs, discuss the following questions:
What documentation and records do you think you will need to maintain
and file before, during and after the action plan is implemented?
Before the risk mitigation action to take place the management should alternate
the departmental shifting arrangements. Accordingly, the team members of the
concerned team are to be alerted with notices (Duarte et al. 2016). After the
risk mitigation template have to be maintained by the steering committee. After
the completion of each task, the estimated cost, the risks that are covered and
the future scope of benefits of the repairactivities have to be noted down. The
repairing activities would also require the papers of permission form the local
authorities and the action plan have to be passed form the authorities also. The
NOC from the authorities is very important in this context. The risk evaluation
template is to be duly filled also by the management committee members.

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Why?

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Activity 4.5.1 – 4.5.2
Estimated Time 40 Minutes
Objective To provide you with an opportunity to implement and monitor action plan.
Activity Individually or in pairs, discuss the following questions:
You need to be able to implement the action plan. What do you need to do?
Briefly outline how you will implement each step.
Immediately after the approval of the action tsk plan, the plan is to be
implemented with immediate effect. All the necessary members including the
workgroups as well as the stakeholders have to be communicated with the details
of the action plan. The necessary details that have to be communicated are
decisions made regarding how the hazards are to be mitigated. After that the
reasons for implementation of each change plan is to be communicated. The
stakeholders have to be assured regarding the benefits of the risk mitigation plan
also. The key personnel including the directors of the organisation should realise
the benefits of the action plan along with realising the severity of the risk in the
organisation and how the employed can be affected due to the risk (Shafiq, 2017).
The next phase is the application phase. A communication plan is to be formulated
working with the key personnel who are working over this task.
The next phase is to raise awareness among the employees regarding the changes
like automation that would be brought about as an outcome of this phase. How the
employees as well as the management would be beneficiated as an impact of the
action is to be communicated properly (Williams et al. 2016). Key personnel who
are in charge of every area of the risk mitigation program should communicate
with each other also. The employees should also be communicated with the
benefits of the action plan. They have to be made aware of the ways in which

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change is being brought about. Formal meetings can be arranged in this regard.
Actions like meetings with employees and management should be done by the
steering committee.
The build capacity is the next consideration in this regard. Capacity building
involves how the taskforce is to be manoeuvred by the change. Employee
participation in change process would increase the effectiveness of change.
Motivation is the next most important aspect of the risk mitigation. The key to
staff participation is motivation. Another importance of motivation is
empowerment of the stakeholders (Quintus & Ladefoged, 2016). In order to
ensure employee ownership, incentives can be offered. Employees have to be
given extra bonuses for mitigating the gaps in production due to the continuation
of risk mitigation activities.
The last action is tracking and monitoring of the activities. Tracking of the success
or the failure of the action plan is very essential. The tracking program should be
made centralised so that there are no lapses in checking the field work.

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How often will you communicate with stakeholders?
The group of employees should be communicated once in course of every activity.
The steering committee should communicate once in every week for discussing
the progress of the task. The management is to be communicated with the details
of the progress after completion of every task. The CFO and the supervisor of the
task should maintain their meetings according to the task schedule. Other
stakeholders like the workers who are associated with execution of the concrete
work should be called for a meeting so that they basic demands of the company
can be communicated to them (Davies, 2014). The members of the external
contractors should sit in meetings with the budget planning committee twice every
month. In the period when the work would be stalled temporarily, the managers
would meet thrice in all, to communicate the need of further repairs.
Implement your action plan for managing the risk(s) identified in Activity
2.1.1-2.3.1 and monitor this over a 3-4 day period. Note down the outcome of
this.
The task that have been half completed, would be brought up for supervisions.
After the monitoring phase where the representatives of all the stakeholder groups

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would participate, the further actions should be decided.

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Activity 4.6.1
Estimated Time 30 Minutes
Objective To provide you with an opportunity to evaluate risk management
process.
Activity How will you evaluate your case? Develop a tool that you can use to
perform this task.
The action evaluation template is the key proof of the activities that have been
completed. After that feedbacks of the major stakeholders have to be collected in
the templates (Chammas, 2015). The budget planning committee would allocate
the resources after scrutinising the task progress. Finally, the steering committee
will give the final report on the case.

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Skills and Knowledge Activity
Estimated
Time
1 Hour
Objective To provide you with an opportunity to demonstrate your knowledge of the
foundation skills, knowledge evidence and performance evidence.
Activity Complete the following individually and attach your completed work to
your workbook.

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The answers to the following questions will enable you to demonstrate your
knowledge of:
 Reading
 Writing
 Oral communication
 Numeracy
 Navigate the world of work
 Interact with others
 Get the work done
Answer each question in as much detail as possible, considering your
organisational requirements for each one.
1. What are the five steps for implementation of the AS/NZS ISO
31000:2009 Risk Management – Principles and Guidelines? Explain.
The different steps that might be undertaken by the organization while
implementing the AS/NZS ISO 31000:2009 are:
 The assessment of the different risk factors that might be faced by the
organization while implementing a specific project
 Brainstorming different strategies that might be undertaken by the
organization while undertaking the proper functioning of the systems
 Evaluating the different concepts and alternatives as per the
understanding of the different aspects of the change in the systems of the
business (Kloos & Renaud, 2016).
 selection of the best alternative that helps in mitigating the risk
 implementation of the strategy on the risk that is faced by the

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organization
2. Outline the difference between the Act, Regulations and Codes of
practice
Acts are broad laws that are passed and every organization amends to the same
for the smooth functioning of the processes. On the other hand,
the regulations are guidelines that clearly states the manner in which the legal
provisions of the act should be applied in the organizational structure. Codes of
practices helps in understanding the different laws and ethics that are connected
to the practices that are undertaken by the organizational workforce while
performing the activities.
3. What are your organisation's policies and procedures regarding risk
management?
The risk management policies that are undertaken by my organization are:
 Internal, external and Financial audits undertaken by the organization
 Assessment of risks and the manner in which the risks are segregated
among the different departments (Qazi et al. 2015).
 The formulation of clear strategies for the proper functioning of the risk
assessment policies
4. How might you adjust your risk management to incorporate disabled
employees/customers?
The risk assessment might be adjusted for incorporating disabled employees
through the creation of:
 Undertaking interactions with the concerned people and thereby identify
the issues that are faced by the same while operating as per the

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objectives of the business
 Implementing the different strategies that are formed by the organization
for the formulation of the different strategies.
5. What steps will you need to take to monitor your risk management
plan?
The organization has taken steps to monitor over the risk management plan
which are:
 Formulating questionnaires and circulating the same among the relevant
candidates for identifying the issues that are faced by the organization
(Abidi & Miquel-Flores, 2018).
 Application of the concepts that are relevant to the current literature,
which will be helping the organization to create an understanding of the
relevant policies that, helps in the creation of the different functions.
6. How would you communicate your risk management plan to the
relevant stakeholders?
The risk management plan of the organization will be communicated
through the creation of the newsletters and emails, which will be helping
the organization to interact with the stakeholders more effectively on the
basis of the changes that are planned by the business.

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Major Activity
Estimated
Time
1 - 2 Hours
Objective To provide you with an opportunity to demonstrate your knowledge of the
entire unit.
Activity This is a major activity – your instructor will let you know whether you will
complete it during class or in your own time.
Attach your completed answers to the workbook.
You must individually, answer the following questions in full to show your
competency of each element:
5. Establish risk context
6. Identify risk
7. Analyse risk
8. Select and implement treatments
Complete the following and present it as a portfolio:
For this project you may use the follow scenario, or you can choose a risk
that you are familiar with in your workplace. What you must be able to do is

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identify and describe in each step of the process the influence the
organisations policies, processes and procedures throughout your answers to
demonstrate your understanding of the risk management process.
If you are not employed, use a former employer and if you have never
worked in the workforce, use the knowledge and legislation within your
learner guide and refer to it where necessary in each question.
If you are using your own case, briefly outline the scenario.
1. What part/s of the legal framework will impact on this risk?
The legal framework that will be affecting the proper functioning of the risk
assessment is based on the vulnerability of the events and the plans that are
formulated by the organization to bring in changes in the situations of the current
undertakings (Shad & Lai, 2015).
2. What standard applies presently?
The standards that apply to the functioning of the organization while operating in
the international markets are based on the levels of risks that are faced by the
business. The assessment of the risk that is faced by the organization has helped in
maintaining the proper functioning of the systems of the business while
oipe4rating in the international markets.
3. What areas does your risk address? (i.e. commercial relationships)
The risks that are analyzed by the organization is aimed at understanding the
different risks that might be faced by the organization while undertaking their
international amendments as per the company policies. As per Vandenberg
(2015), the Financial aspects of the undertakings is being secured through the
risks management strategies that are planned by the business while operating in

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the competitive markets scenario.
4. There are different types of risk, including legal, financial and safety risk.
Which one/s do you think apply in your case?
Financial risks are the one that are faced by our organization while operating in
the international markets.
5. Who is responsible for this risk?
The investments that are made by the o9rganization while undertaking the
different expansion is affected through the proper functioning of the systems that
are planned by the business.
6. Who are your external and internal stakeholders? What are their
objectives?
The external stakeholders are:
 Government
 Suppliers
 Investors
 Customers
The internal stakeholders of the organization are:
 Employees
 Management
 Board of directors
7. Review any political, legal, social, economic or technological changes that
will influence you. Create a SWOT analysis of these below.
Strengths
 Brand value
 Steady base of customers
 Quality goods and services
Weaknesses
 Lower market exposure
 Poor advertising
Opportunities Threats

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 Expansion in the international
markets
 Introducing new range of
products
 New entrants in the market
 Fluctuations in the economies
8. Outline how critical success factors will influence this case?
The critical success factors of the business is dependent on the proper assessment
of the risks and thereby bring in changes in the systems of the business which will
be helping the organization to sustain in the international markets (Ajibola,
Omiyale & Ogunwolu, 2018).
9. Using the stakeholders identified earlier, identify how you would
communicate and consult with each party changes?
The stakeholders of the organization will be communicated through emails which
will be helping the organization to bring in changes n the systems of the business.
10. What other research would you need to do in this case?
Mixed methods will be utilized where there would be survey questionnaires and a
review of the current literature, which will be helping the organization to bring in
changes in the systems of the business (Yoon, Yildiz & Talluri, 2016).
11. In this next section, you may choose to complete a risk assessment form
internal to your organisation. This is acceptable.

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Likelihood
 Probability of a given risk occurring, such as:
o Very likely (exposed to hazard constantly)
o Likely (exposed to hazard occasionally)
o Unlikely (could happen but only rarely)
o Highly unlikely (could happen but probably never will).
Consequences may be rated as:
a) A fatality
b) Major or serious injury (serious damage to health that may be
irreversible, requiring medical attention and ongoing treatment).
This is likely to involve significant time off work (Andrat & Jaswal,
2015);
c) Minor injury (reversible health damage that may need medical

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attention but limited ongoing treatment). This means that it is less
likely to spend more than a day off work.
d) Negligible injuries (might sustain slight injury and may require only
primary first aid) and no time off work
Assess the risk
12. What is the likelihood of this problem arising again?
It is likely that the problem might arise again. The SAI regulations have not been
properly considered in the initial phase. Hence such hazards are likely to occur
occasionally. In order to avoid the risks of workplace hazards, it is necessary to
re-establish the security system thoroughly.
13. What are the possible consequences of this risk?
There are rare chances of a fatality. However, the chances are always there. As it
seems there are chances of frequent minor injuries. On an odd day, it might take
the shape of a disaster also. In that case the number of minor as well as minor
injuries might increase.
14. What risk priority would you consider?
I would consider a high risk priority. This is obvious that such occasions
might arise frequently within the organisation. Hence the management
should consider the situation with immediate effect. This is because such
risks and the hazards arising out of such risks are having a negative impact
upon the organisational performance.

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regression discontinuity design approach.
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