Topics: Risk management, Management, Risk Pages: 16 (5039 words) Published: August 22, 2014

Name of Category
Business Management
Qualification Code & Name
BSB50207 Diploma of Business
Unit of Competency Code/s
Unit of Competency Name/s
Managing Risk
Teacher’s Name
Teacher’s Email
Geoff Webster
Consultation Details
Mount Gravatt Campus, Wednesday 1-2pm, A Block, Level 6
Author/s:Geoff Webster
Other Contributors:IBSA
The authors acknowledge the contribution of IBSA.
Training Package: BSB07 Business Services Version: 9.0
Copyright protects this material. Except as permitted by the Copyright Act 1968 (Cth), reproduction by any means (photocopying, electronic, mechanical, recording or otherwise), making available online, electronic transmission or other publication of this material is prohibited without the prior written permission of the Department of Education, Training and Employment (DETE) or the author/s. Every effort has been made to provide accurate and complete information. However, the author/s and Department of Education, Training and Employment (DETE) assume no responsibility for any direct, indirect, incidental, or consequential damages arising from the use of information in this document. Data and case study examples are intended to be fictional. Any resemblance to real persons or organisations is coincidental. All training package material is licensed under an AEShareNET Free for Education licence. What will I learn?

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

Assessment Description
Due Date
Risk Review
Wb. 25/08/14
Risk Analysis
Wb. 22/09/14
Monitoring Report
Wb. 06/10/14
Knowledge Test
Wb. 27/10/14

RSK501B – Managing Risk

Unit Description
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

Element 1
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

Element 2
Identify risks

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
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Risks Essay
  • Risk Management Essay
  • Risk Management
  • Flirting with Risk Essay
  • Risk and Factors Affecting Risky Decision Making Essay
  • ICRG International Country Risk Guide Essay
  • Insurable Risk Essay
  • Political Risk Essay

Become a StudyMode Member

Sign Up - It's Free