BSB60407 Advanced Diplomaof Management

ASSESSMENTPROJECT BSBRSK501A ManageRisk

BSBRSK501A ManageRisk

AssessmentProject
Instructions:
ThisAssessmentProjectistobecompletedinadditiontothelearningandassessment tutorialactivitiesyoucompleteinclassduringthecourse. This Project evaluates a number of elements of competency that will assess your knowledge and skills in managing risk (see BSBRSK501A Assessment Guide for a complete list of elements of competency and performance criteria that you must demonstrate). This Project can be completed in one of several ways. Assessment candidates may managerisk: Withintheirownworkenvironmentororganisation, or Withreferencetoascenarioprovidedbythetrainer/assessor or UsingmaterialprovidedinFlexibleLearningToolboxesortextbooks. Youmustsuccessfullycompleteallpartsofthisproject.Thetablebelowshowsyouthe assessmentweightingsforthisunitofcompetency. If you are not sure about any aspect of this assessment or would like to discuss your particularneeds,pleasespeaktoyourassessor.

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BSBRSK501A ManageRisk

Overview of Assessment Project

Thisprojectismadeupof4parts: Part Weighting DueDate 1. Establishriskcontext 25% 2. Identifyrisks 30% 3. Analyserisks 15% 4. Selectandimplementrisk 30% treatments On the following pages you will find the various types of information. The symbols below will be used throughout this project to represent the different types of information.

Adescriptionofthetasktobecompleted
Adocumentorpieceofadditionalinformationthatwillassistyou completethetask

Questionsthatrequireananswerortasksthatrequireactions.

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BSBRSK501A ManageRisk

Part 1. Establish risk context (25%)

TaskDescription

This assessment project requires you to establish the context of the risks associated with an organisation or within a part of the organisation. The project may be completed within your workplaceoronthebasisofasimulationprovidedbyyourtrainer. Ifyouwillbecompletingthisactivityinyourworkplace,youwillneedaccesstothefollowing:

Thecurrentriskmanagementplan Ifcompletingthisactivityforabusinessunitwithintheorganisation,youwillneed informationaboutkeybusinessactivitiesforthisbusinessunit

If you will be completing this activity as a simulation, your trainer will provide you with this information.

Task1

a) Writeadescriptionofthecontextofatleast5risksyouwillbefocusingonforthisactivity. Includethefollowing: A review of the existing risk management approach used by the business unit or organisation Thescopefortheriskmanagementprocess(ie.Wholeorganisation,specificproject, etc) Thepolitical,economic,social,policy,legaland/ortechnologicalcontexts Thestrengthsandweaknessesofexistingriskmanagementarrangements Criticalsuccessfactors,goalsandobjectives

Task2

a) Prepareanddeliverapresentationtorelevantpartiesabouttheriskmanagementprocess and gather their feedback and ideas. (If completing this activity in the classroom, your fellowlearnersandtrainercouldrepresenttherelevantparties) b) Conductadetailedanalysisofkeystakeholders.Listtheissuesandconcernsraisedbythe variousstakeholders.

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Part1.Checklist
Beforeyouhandinthisassessmenttask,usethechecklistbelowtomakesureyou havecompletedallthetasksandhaveincludedallrelevantinformation. Preparedadescriptionofthecontextofrisk Preparedapresentationabouttheriskmanagementprocess Listedtheconcernsofthestakeholders

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BSBRSK501A ManageRisk

Part 2. Identify Risks (30%)

TaskDescription

Buildingonyourdescriptionofthecontextofrisksforyourchosenorganisationorbusinessunit frompart1,youarenowrequiredtousearangeofmethodstoidentifyrisks.

Task1

a) Inconsultationwithrelevantpartiesdevelopalistofsourcesofinformationyouwilluse toassistyouidentifyrisksthatapplytothescopeyouidentifiedinpart1. b) Usethesesourcesofinformationtoresearchtherisksthatmayapplytoscope. c) In consultation with relevant parties, use at least two different tools or techniques to generate a list of risks that apply to the scope. (Tools and techniques may include brainstorming,checklists,fishbonediagrams,flowchartsetc..)

Part2.Checklist
Beforeyouhandinthisassessmenttask,usethechecklistbelowtomakesureyou havecompletedallthetasksandhaveincludedallrelevantinformation. Listedthesourcesofinformationusedtoresearchrisk Generatedalistofrisksthatapplytoscope Evidenceofthetoolsandtechniquesused(eg.notesfrombrainstorming, checklists)

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Part 3. Analyse Risks (15%)

TaskDescription

Thistaskrequiresyoutoanalysethelikelihoodandimpactsoftherisksyouhaveidentifiedand evaluateandprioritisethemfortreatment.

Thefollowingtemplatesonpage7maybeofassistanceinthistask
RiskCategorisationTable

Task1

a) Select at least 5 risks you have been examining and compile a risk categorisation table showing your assessment of the likelihood of the risks occurring and the impact on the organisationiftheydooccur.Youmaywishtousethematrixonpage7. b) Evaluateandprioritisetheserisksfortreatmentbyrankorderingthem.

Part3.Checklist
Beforeyouhandintheseassessmenttasks,usethechecklistbelowtomakesure youhavecompletedallthetasksandhaveincludedallrelevantinformation. Compiledariskcategorisationtable

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BSBRSK501A ManageRisk

AdditionalInformation
RiskCategorisationTable Risk Likelihood Impact LevelofRisk Rank

Definitions
LevelofLikelihood: A Expected willoccurregularly B Probable willoccuratsomestage C Possible couldoccur D Improbable couldoccurbutunlikely E Rare canoccurbutinlimitedsituations Impact: 1 Insignificant 2 Minor 3 Moderate 4 Major 5 Catastrophic LevelofRisk: Levelof LevelofImpact 1 2 3 Likelihood
(insignificant) (minor) A(expected) B(probable) C(possible) D(Improbable) E(Rare)

(moderate)

4 (major)

5 (catastrophic)

Low Medium Low Low Low

Medium Medium Medium Low Low

High Medium Medium Medium Medium

Veryhigh High High Medium High

Extreme Extreme High High Medium

Adapted fromAspire Training and Consulting Learner Guide Identify Risk and Apply Risk Management Processes(2007)

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Part 4. Select and implement treatments (30%)

TaskDescription

Thistaskrequiresyoutodevelopatreatmentplantoaddresstheidentifiedrisks.

Thefollowingtemplateonpage9maybeofassistanceinthistask
RiskTreatmentPlan

Task1

a) Developanactionplantoaddressidentifiedrisks.Includethefollowinginyourplan: o Risks o Whoisresponsible o Timeframes o Treatmentoptions o Actionsrequired o Monitoringprocess Youmaywishtousethetemplateonpage9.

Task2

a) Prepare and deliver a presentation to relevant parties that explains the risk management process.(Ifcompletingthisactivityintheclassroom,yourfellowlearnersandtrainercould representtherelevantparties)

Task3

a) Explaintheprocessyouwouldusetoimplementtherisktreatmentplan. b) Describethestrategiesyouwouldusetomonitorandreviewtherisktreatmentsyouhave planned. c) Outlinethesourcesofinformationyouwillneedtousetoreviewtheeffectivenessofyour riskmanagementstrategies. d) Describe the process you will follow to ensure accuracy of and appropriate storage of all documentation.

Part4.Checklist
Beforeyouhandintheseassessmenttasks,usethechecklistbelowtomakesure youhavecompletedallthetasksandhaveincludedallrelevantinformation. Preparedanactionplan Preparedpresentationoutliningtheriskmanagementprocess Explainedtheimplementationprocess Describedthestrategiestomonitorandreviewtheriskmanagementplan Describedtheprocessesusedtoensureaccuracyofdocumentsand appropriatestorage 9|Page
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AdditionalInformation
RiskTreatmentPlan PreparedBy: BusinessActivity: Risks: Treatment: Action required: Expected outcome: Budget: Resources: Implementation Strategies: Personnel: Timeline: ReviewProcess: Date:

Adapted fromAspire Training and Consulting Learner Guide Identify Risk and Apply Risk Management Processes(2007)

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