Establishing Risk Context for Nature Care - MHDPLM3D2-2B
Added on 2023-06-18
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While every effort has been made to achieve strict accuracy in this resource, the publisher would welcome notification of
any errors and any suggestions for improvement. Readers are invited to write to us at hello@rtoworks.com.au.
Business Works is a series of training and assessment resources developed for qualifications within the Business Services
Training Package.
This resource is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review as
permitted under the Copyright Act 1968, no part may be reproduced by any process without written permission as
expressed in the RTO Works License Agreement.
The information contained in this resource is, to the best of the project team’s and publisher’s knowledge true and correct.
Every effort has been made to ensure its accuracy, but the project team and publisher do not accept responsibility for any
loss, injury or damage arising from such information.
While every effort has been made to achieve strict accuracy in this resource, the publisher would welcome notification of
any errors and any suggestions for improvement. Readers are invited to write to us at hello@rtoworks.com.au.
Business Works is a series of training and assessment resources developed for qualifications within the Business Services
Training Package.
Contents
Section 1: Establish risk context................................................................................................................. 8
1Provide a brief overview of the business or organisation you are basing your portfolio on.......................8
1.1What is the name of the business or organisation?...........................................................................8
1.2What is the main focus of the business?............................................................................................ 8
1.3What role will you assume as you investigate risk for your chosen risk management
process/project?..................................................................................................................................... 8
2Determine the scope of your chosen risk management process/project...................................................8
2.1What does your chosen risk management process/project involve?.................................................8
2.2Which departments or work areas are involved in the process?........................................................8
2.3Are there any risks the business will not manage (for example, staff retention)?..............................8
3Evaluate organisational requirements and standards for managing risk...................................................8
3.1Which organisational policies and procedures provide input on how you approach your chosen risk
management process or project e.g. Risk management, Record keeping etc.?.....................................8
3.2Are there any processes you need to follow?....................................................................................8
3.3Attach policies and procedures to this section of your portfolio.........................................................8
4What are the legal requirements associated with your chosen risk management process or project?.....8
4.1Explain the legislation you need to comply with.................................................................................8
4.2Do any regulations apply?................................................................................................................. 8
4.3Is there the potential for new laws to be introduced or existing ones to be amended or rescinded?. 8
4.4Which risk management standard/s are used or guide the risk management activities of the
business?................................................................................................................................................ 8
5List the resources available for you to use as you plan, implement and monitor risk................................8
5.1Are template documents available to support your risk management process/project?.....................8
5.2Do you have budget allocation or restrictions for the risk management process/project?..................8
5.3Which employees are available to assist you?..................................................................................8
5.4What other resources are required?.................................................................................................. 8
6Establish objectives and critical success factors for your risk management process or project................8
6.1List two objectives.............................................................................................................................. 8
6.2List three critical success factors for the risk management process or project..................................8
7Identify stakeholders who will be part of the risk management process...................................................9
7.1Who is able to shed light on or assist with risk identification, risk analysis and/or risk control?.........9
7.2Who is likely to be impacted by an adverse risk event?.....................................................................9
Section 1: Establish risk context................................................................................................................. 8
1Provide a brief overview of the business or organisation you are basing your portfolio on.......................8
1.1What is the name of the business or organisation?...........................................................................8
1.2What is the main focus of the business?............................................................................................ 8
1.3What role will you assume as you investigate risk for your chosen risk management
process/project?..................................................................................................................................... 8
2Determine the scope of your chosen risk management process/project...................................................8
2.1What does your chosen risk management process/project involve?.................................................8
2.2Which departments or work areas are involved in the process?........................................................8
2.3Are there any risks the business will not manage (for example, staff retention)?..............................8
3Evaluate organisational requirements and standards for managing risk...................................................8
3.1Which organisational policies and procedures provide input on how you approach your chosen risk
management process or project e.g. Risk management, Record keeping etc.?.....................................8
3.2Are there any processes you need to follow?....................................................................................8
3.3Attach policies and procedures to this section of your portfolio.........................................................8
4What are the legal requirements associated with your chosen risk management process or project?.....8
4.1Explain the legislation you need to comply with.................................................................................8
4.2Do any regulations apply?................................................................................................................. 8
4.3Is there the potential for new laws to be introduced or existing ones to be amended or rescinded?. 8
4.4Which risk management standard/s are used or guide the risk management activities of the
business?................................................................................................................................................ 8
5List the resources available for you to use as you plan, implement and monitor risk................................8
5.1Are template documents available to support your risk management process/project?.....................8
5.2Do you have budget allocation or restrictions for the risk management process/project?..................8
5.3Which employees are available to assist you?..................................................................................8
5.4What other resources are required?.................................................................................................. 8
6Establish objectives and critical success factors for your risk management process or project................8
6.1List two objectives.............................................................................................................................. 8
6.2List three critical success factors for the risk management process or project..................................8
7Identify stakeholders who will be part of the risk management process...................................................9
7.1Who is able to shed light on or assist with risk identification, risk analysis and/or risk control?.........9
7.2Who is likely to be impacted by an adverse risk event?.....................................................................9
7.3How will each stakeholder provide input to the risk management process (such as identifying
possible risks, helping describe their impact and suggesting ways to prevent or mitigate risks)?..........9
7.4What influence does each stakeholder have on risk management decisions? .................................9
7.5What are the possible issues each stakeholder may have if a risk event occurs (for example,
employees will still want to be paid, customers may still need your products or services and banks will
still need to be paid for loans etc)?......................................................................................................... 9
8Communicate with relevant stakeholders.................................................................................................9
8.1Who will you communicate to (at least two stakeholders) regarding:.................................................9
1.1.1.Explanation of the risk management process or project?..............................................................9
1.1.2.Invitation to assist in risk identification...........................................................................................9
8.2How will you consult with each stakeholder?.....................................................................................9
8.3If not already viewed in person by your assessor, attach proof (e.g. draft email, telephone
conversation recording, video of meeting etc.) of your explanation of the risk management
process/project to the stakeholders........................................................................................................ 9
8.4If not already viewed in person by your assessor, attach proof of your invitation to stakeholders to
assist in the identification of risks (e.g. draft email, telephone conversation recording, video of meeting
etc.). ....................................................................................................................................................... 9
Note: If suitable, 8.3 and 8.4 can be completed as one communication.................................................9
9Analyse the external environment of your risk management process/project. .........................................9
Note: You may choose to perform any external environmental analysis (e.g. PESTLE analysis) to answer
this question instead of the questions below............................................................................................... 9
9.1What is the political situation like (e.g. unrest, government support of small business, government
policies)?................................................................................................................................................. 9
9.2What is the current and predicted economic situation (e.g. state of local and other applicable
economies, interest rates, exchange rates, employment rates etc.)?.....................................................9
9.3Are there any social considerations (e.g. changing values, beliefs, attitudes and habits)?................9
9.4How are technological advances affecting the business (e.g. internet, RPA, risk control)?...............9
9.5What are competitors doing?............................................................................................................. 9
10Establish the strengths and weaknesses within your business that have the potential to create or
impact risk. ................................................................................................................................................. 9
Note: You may choose to use any relevant analysis tool (e.g. SWOT analysis) to answer instead of the
questions below.......................................................................................................................................... 9
10.1Are the current risk management policy/procedures complete and comprehensive?......................9
10.2What is the state or condition of business’ resources relevant to your risk management process or
project?................................................................................................................................................... 9
10.3How effective are existing communication mechanisms between management and the workforce?
................................................................................................................................................................ 9
10.4How loyal are staff?......................................................................................................................... 9
10.5What is the size and quality of the customer data base?...............................................................10
10.6What is the business’ ability to fund or raise funding?...................................................................10
10.7What is the business’ cashflow situation?......................................................................................10
possible risks, helping describe their impact and suggesting ways to prevent or mitigate risks)?..........9
7.4What influence does each stakeholder have on risk management decisions? .................................9
7.5What are the possible issues each stakeholder may have if a risk event occurs (for example,
employees will still want to be paid, customers may still need your products or services and banks will
still need to be paid for loans etc)?......................................................................................................... 9
8Communicate with relevant stakeholders.................................................................................................9
8.1Who will you communicate to (at least two stakeholders) regarding:.................................................9
1.1.1.Explanation of the risk management process or project?..............................................................9
1.1.2.Invitation to assist in risk identification...........................................................................................9
8.2How will you consult with each stakeholder?.....................................................................................9
8.3If not already viewed in person by your assessor, attach proof (e.g. draft email, telephone
conversation recording, video of meeting etc.) of your explanation of the risk management
process/project to the stakeholders........................................................................................................ 9
8.4If not already viewed in person by your assessor, attach proof of your invitation to stakeholders to
assist in the identification of risks (e.g. draft email, telephone conversation recording, video of meeting
etc.). ....................................................................................................................................................... 9
Note: If suitable, 8.3 and 8.4 can be completed as one communication.................................................9
9Analyse the external environment of your risk management process/project. .........................................9
Note: You may choose to perform any external environmental analysis (e.g. PESTLE analysis) to answer
this question instead of the questions below............................................................................................... 9
9.1What is the political situation like (e.g. unrest, government support of small business, government
policies)?................................................................................................................................................. 9
9.2What is the current and predicted economic situation (e.g. state of local and other applicable
economies, interest rates, exchange rates, employment rates etc.)?.....................................................9
9.3Are there any social considerations (e.g. changing values, beliefs, attitudes and habits)?................9
9.4How are technological advances affecting the business (e.g. internet, RPA, risk control)?...............9
9.5What are competitors doing?............................................................................................................. 9
10Establish the strengths and weaknesses within your business that have the potential to create or
impact risk. ................................................................................................................................................. 9
Note: You may choose to use any relevant analysis tool (e.g. SWOT analysis) to answer instead of the
questions below.......................................................................................................................................... 9
10.1Are the current risk management policy/procedures complete and comprehensive?......................9
10.2What is the state or condition of business’ resources relevant to your risk management process or
project?................................................................................................................................................... 9
10.3How effective are existing communication mechanisms between management and the workforce?
................................................................................................................................................................ 9
10.4How loyal are staff?......................................................................................................................... 9
10.5What is the size and quality of the customer data base?...............................................................10
10.6What is the business’ ability to fund or raise funding?...................................................................10
10.7What is the business’ cashflow situation?......................................................................................10
10.8Are supplier relationships strong and reliable?..............................................................................10
Section 2: Identify and analyse risk.......................................................................................................... 11
1Plan to discuss risks with invited stakeholders (identified in Section 1)..................................................11
10.9Choose a tool or technique to facilitate the group discussion to identify risks within the scope of the
risk management process .................................................................................................................... 11
Note: At the meeting, you will collaboratively choose three risks to focus on as a group......................11
10.10List what will be discussed (e.g. identify risks, assess risks, risk treatments, priorities etc.)........11
10.11What method and scale will you use to assess the likelihood and severity of the risks?.............11
10.12What will guide how you prioritise risk (e.g. risk matrix)?.............................................................11
10.13What are you prepared to negotiate? .......................................................................................... 11
10.14How will you negotiate?............................................................................................................... 11
10.15Explain questioning and listening techniques you will use to elicit opinion and clarify
understanding....................................................................................................................................... 11
11Summarise risks................................................................................................................................... 11
11.1Summarise at least three risks identified at the meeting that apply to the scope of your risk
management process or project. For each risk:....................................................................................11
1.1.3.Identify which type of risk it is...................................................................................................... 11
1.1.4.Identify who may be responsible for the risk................................................................................11
1.1.5.List at least two potential outcomes should the risk eventuate....................................................11
1.1.6.What treatment alternatives were discussed?.............................................................................11
1.1.7.How do the stakeholders want to prioritise the risks?..................................................................11
11.2If not already viewed in person by your assessor, attach proof of your stakeholder meeting (e.g.
video of meeting etc.)............................................................................................................................ 11
12Complete the table below to assess the identified risks (using an appropriate scale and stakeholder
input)......................................................................................................................................................... 11
13Research risks...................................................................................................................................... 12
13.1Research each of the identified risks to learn more about the risk and any related risk treatment
options (e.g. speak to stakeholders, do an internet search, review best practice examples, check
policies and procedures, view past incidents, research technology solutions etc.)...............................12
Note: You must access at least two different sources of information....................................................12
13.2Summarise the research done for each identified risk...................................................................12
13.3List the options available to you to treat your identified risks.........................................................12
13.4Attach proof of your research to this section of your portfolio........................................................12
14Use digital technology to document and calculate risk (e.g. a risk register). Include the risk, potential
outcomes, likelihood, impact/severity, risk calculation, treatment actions and priority of each treatment
action........................................................................................................................................................ 12
Note: Risk is calculated (likelihood)x(impact)............................................................................................ 12
Section 3: Implement and monitor risk treatment......................................................................................13
Section 2: Identify and analyse risk.......................................................................................................... 11
1Plan to discuss risks with invited stakeholders (identified in Section 1)..................................................11
10.9Choose a tool or technique to facilitate the group discussion to identify risks within the scope of the
risk management process .................................................................................................................... 11
Note: At the meeting, you will collaboratively choose three risks to focus on as a group......................11
10.10List what will be discussed (e.g. identify risks, assess risks, risk treatments, priorities etc.)........11
10.11What method and scale will you use to assess the likelihood and severity of the risks?.............11
10.12What will guide how you prioritise risk (e.g. risk matrix)?.............................................................11
10.13What are you prepared to negotiate? .......................................................................................... 11
10.14How will you negotiate?............................................................................................................... 11
10.15Explain questioning and listening techniques you will use to elicit opinion and clarify
understanding....................................................................................................................................... 11
11Summarise risks................................................................................................................................... 11
11.1Summarise at least three risks identified at the meeting that apply to the scope of your risk
management process or project. For each risk:....................................................................................11
1.1.3.Identify which type of risk it is...................................................................................................... 11
1.1.4.Identify who may be responsible for the risk................................................................................11
1.1.5.List at least two potential outcomes should the risk eventuate....................................................11
1.1.6.What treatment alternatives were discussed?.............................................................................11
1.1.7.How do the stakeholders want to prioritise the risks?..................................................................11
11.2If not already viewed in person by your assessor, attach proof of your stakeholder meeting (e.g.
video of meeting etc.)............................................................................................................................ 11
12Complete the table below to assess the identified risks (using an appropriate scale and stakeholder
input)......................................................................................................................................................... 11
13Research risks...................................................................................................................................... 12
13.1Research each of the identified risks to learn more about the risk and any related risk treatment
options (e.g. speak to stakeholders, do an internet search, review best practice examples, check
policies and procedures, view past incidents, research technology solutions etc.)...............................12
Note: You must access at least two different sources of information....................................................12
13.2Summarise the research done for each identified risk...................................................................12
13.3List the options available to you to treat your identified risks.........................................................12
13.4Attach proof of your research to this section of your portfolio........................................................12
14Use digital technology to document and calculate risk (e.g. a risk register). Include the risk, potential
outcomes, likelihood, impact/severity, risk calculation, treatment actions and priority of each treatment
action........................................................................................................................................................ 12
Note: Risk is calculated (likelihood)x(impact)............................................................................................ 12
Section 3: Implement and monitor risk treatment......................................................................................13
1Complete the action plan below for ONE of your selected risk treatments (in your Risk register in Section
2).............................................................................................................................................................. 13
Note: If your business already has an action plan template or other specific documentation requirements,
use them instead and attach your work to this section of the portfolio......................................................13
15Communicate the action plan to relevant parties (each person responsible for a step in the action plan).
.................................................................................................................................................................. 13
15.1To who will you communicate?...................................................................................................... 13
15.2How will you communicate (e.g. face-to-face discussion, email)?.................................................13
Note: If you are basing this assessment on the case study business, you are required to communicate
verbally................................................................................................................................................. 13
15.3Unless already viewed in person by your assessor, attach proof of your communication to this
section of the portfolio (e.g. email with attachment, project schedule, video of team meeting etc.). ....13
16Implement your action plan and maintain documentation.....................................................................14
16.1Which step will you implement?..................................................................................................... 14
Note: If you are using the case study, assume that one step in your action plan is to request quotes for
RPA systems for invoice capturing....................................................................................................... 14
16.2What are the organisational policy and procedure requirements to implement your chosen step in
the action plan (e.g. how many quotes are you required to obtain, should a research report be written
etc.)?..................................................................................................................................................... 14
16.3Attach proof of implementation to this section of your portfolio (e.g. request for quotes, research
conducted and written into a research report etc.)...............................................................................14
16.4Describe how you maintained the documentation to indicate completion of the step (e.g. marked
the action plan as “done”). If this step cannot be completed in the Project Portfolio, attach proof........14
17Monitor your risk management process or project................................................................................14
17.1What data is available?.................................................................................................................. 14
17.2Have any new risks emerged?....................................................................................................... 14
17.3Have any incidents been recorded?............................................................................................... 14
17.4Have you (or other stakeholders) received or provided feedback?................................................14
18Evaluate your risk management process or project..............................................................................14
18.1Are you identified risks still relevant?............................................................................................. 14
18.2Have your risk treatments been successful?.................................................................................14
18.3Are there any new risks?............................................................................................................... 14
18.4How satisfied are stakeholders with your action taken to manage risks?......................................14
18.5Are your selected treatment options still in line with best practice?...............................................14
18.6Is any other risk treatment necessary?.......................................................................................... 14
18.7Write a report on the outcomes of the evaluation and attach it to this section of your portfolio. In
you report, include:............................................................................................................................... 14
2).............................................................................................................................................................. 13
Note: If your business already has an action plan template or other specific documentation requirements,
use them instead and attach your work to this section of the portfolio......................................................13
15Communicate the action plan to relevant parties (each person responsible for a step in the action plan).
.................................................................................................................................................................. 13
15.1To who will you communicate?...................................................................................................... 13
15.2How will you communicate (e.g. face-to-face discussion, email)?.................................................13
Note: If you are basing this assessment on the case study business, you are required to communicate
verbally................................................................................................................................................. 13
15.3Unless already viewed in person by your assessor, attach proof of your communication to this
section of the portfolio (e.g. email with attachment, project schedule, video of team meeting etc.). ....13
16Implement your action plan and maintain documentation.....................................................................14
16.1Which step will you implement?..................................................................................................... 14
Note: If you are using the case study, assume that one step in your action plan is to request quotes for
RPA systems for invoice capturing....................................................................................................... 14
16.2What are the organisational policy and procedure requirements to implement your chosen step in
the action plan (e.g. how many quotes are you required to obtain, should a research report be written
etc.)?..................................................................................................................................................... 14
16.3Attach proof of implementation to this section of your portfolio (e.g. request for quotes, research
conducted and written into a research report etc.)...............................................................................14
16.4Describe how you maintained the documentation to indicate completion of the step (e.g. marked
the action plan as “done”). If this step cannot be completed in the Project Portfolio, attach proof........14
17Monitor your risk management process or project................................................................................14
17.1What data is available?.................................................................................................................. 14
17.2Have any new risks emerged?....................................................................................................... 14
17.3Have any incidents been recorded?............................................................................................... 14
17.4Have you (or other stakeholders) received or provided feedback?................................................14
18Evaluate your risk management process or project..............................................................................14
18.1Are you identified risks still relevant?............................................................................................. 14
18.2Have your risk treatments been successful?.................................................................................14
18.3Are there any new risks?............................................................................................................... 14
18.4How satisfied are stakeholders with your action taken to manage risks?......................................14
18.5Are your selected treatment options still in line with best practice?...............................................14
18.6Is any other risk treatment necessary?.......................................................................................... 14
18.7Write a report on the outcomes of the evaluation and attach it to this section of your portfolio. In
you report, include:............................................................................................................................... 14
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