BSBWOR501 Managent risk

Management risk

TASK 1....................................................................................................................................................4
1. Purpose of risk management standards.........................................................................................4
2. Outline the AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelines and each of
the 11 principles...................................................................................................................................4
3. Outline the requirement under WHS legislation to manage risks.................................................4
4. Outline the factors that must be taken into account in determining risk control measures for
hazardous manual tasks as stated in the model Work Health and Safety Regulations 2011...............4
5. Outline the purpose of risk management policies and procedures in the workplace....................4
6. List three examples of the impact of risks for a workplace if risks are not identified or actioned.
4
7. Outline step by step procedures that companies can use for analysing risks................................4
8. Outline three sources of information that a company could use to gather information on
potential risks.......................................................................................................................................4
9. Outline three examples of tools or techniques that a company could use to identify risks as part
of a risk assessment process.................................................................................................................4
10. Outline four options that a company could take to control risks...............................................4
11. Explain four procedures that a company could use to minimise risk........................................4
TASK 2....................................................................................................................................................5
1. Risk briefing report.......................................................................................................................5
2. Email to CEO................................................................................................................................5
3. Email to team................................................................................................................................5
4. Team meeting................................................................................................................................5
5. Risk management plan..................................................................................................................5
6. Email to CEO................................................................................................................................5
TASK 3....................................................................................................................................................5
1. Report on staff training options.....................................................................................................5
2. Email to CEO................................................................................................................................5
3. Email to staff member who will undergo training........................................................................5
4. Training evaluation report.............................................................................................................5
5. Email to the CEO..........................................................................................................................5
6. Monitor risk control measures......................................................................................................5
7. Email to CEO................................................................................................................................5
TASK 4....................................................................................................................................................5
1. Risk management evaluation report..............................................................................................5
2. Folders and files............................................................................................................................5
3. Email to assessor...........................................................................................................................5

TASK 1
1. Purpose of risk management standards
Risk management is the procedure of identifying, assessing as well as controlling threats to an
organisation capital and earning. By implementing risk management Standards Company can take
major steps before occurring risk as well as can save money and their future.
2. Outline the AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelines and each
of the 11 principles.
ISO 31000:2009 has provided general guidelines and principles on risk management. It can be use
by any private, public enterprise, association, individual or group. So ISO 31000:2009 is not
particularly for any industry or sector. It can be applied through life of company as well as in wide
range of activities, operations, processes etc.. Moreover, can be applied to any kind of risk whether
having positive or negative consequences. Its intention is not to promote uniformity of risk
management within organisation. Along with this, ISO 31000:2009 can be use for harmonize risk
management procedure within existing and future standards. It is not intended for the purpose of
certification.
3. Outline the requirement under WHS legislation to manage risks.
Safe Work Australia developed a single set of WHS laws which implemented across Australia as
well as it is known as model law. The main object of Act is to provide for a balanced as well as
nationally consistent framework to secure the health and safety of staff members as well as workplace.
Respective legislation helps in managing risk within organisation
4. Outline the factors that must be taken into account in determining risk control measures for
hazardous manual tasks as stated in the model Work Health and Safety Regulations 2011.
There are several type of risk which should be consider while determining risk control measures.
Factors which need to be consider are technical and non-technical aspects of business, financial
policies as well as other major issues related to this. Moreover, it is important for business firm to
identify the nature of risk for minimising its impact on the working of business firm.
5. Outline the purpose of risk management policies and procedures in the workplace.
Risk management policies as well as procedure within workplace have some purpose as it help in
identifying potential problem before their occurrence. In simple term it can be said that, purpose of
risk management policies and standards is to provide guidance regarding management of risk for
accomplishing objectives of company, protecting staff members, business assets and ensure financial
stability of company.