Name of Category
Qualification Code & Name
BSB50207 Diploma of Business
Unit of Competency Code/s
Unit of Competency Name/s
Mount Gravatt Campus, Wednesday 1-2pm, A Block, Level 6
The authors acknowledge the contribution of IBSA.
Training Package: BSB07 Business Services Version: 9.0
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The purpose of these units of competency is to provide the learner with the knowledge and skills to manage risks in a range of contexts across the organisation or for a specific business unit or area. Are there any special requirements?
Resources required by students should include a computer with Microsoft Office software as well as internet access. What do I need to do to be successful?
You will need to complete the learning and undertake all assessments satisfactorily to be deemed competent. You are responsible for complying with all assessment item instructions; submission and collection requirements; undertaking assessment tasks honestly and retaining a copy of all assessment items. You must submit assessment items by the due date, unless an extension has been granted by your teacher. Failure to submit assessment items by the due date will result in a “did not submit” being recorded and depending on your circumstances, you may be granted one final resubmission. Assessment Task
RSK501B – Managing Risk
This unit describes the performance outcomes, skills and knowledge required to manage risks in a range of contexts across the organisation or for a specific business unit or area.
Elements of Competency
Establish risk context
Review organisational processes, procedures and requirements for undertaking risk management
Determine scope for risk management process
Identify internal and external stakeholders and their issues
Review political, economic, social, legal, technological and policy context
Review strengths and weaknesses of existing arrangements
Document critical success factors, goals or objectives for area included in scope
Obtain support for risk management activities
Communicate with relevant parties about the risk management process and invite participation
Invite relevant parties to assist in the identification of risks
Research risks that may apply to scope
Use tools and techniques to generate a list of risks that apply to the scope, in consultation with...
References: Cole K, 2001, Supervision: The theory & practice of first line management 2nd ed, Pearson, Sydney.
Baker W & Reid H, 2007, Identifying and Managing Risk, Pearson, Frenchs Forest, NSW
Course ILT, 2004, Managing Business Risk, Student Manual, Thomson, Boston, USA.
Nicholson I, 1996, Managing Risk, Unpublished
Waring A & Glendon A I, 1998, Managing Risk, International Thomson Business Press
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