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Assessment Guide:
BSBRSK501 Manage risk

Copyright 2019
? Australian College of Business Intelligence
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Version: 19.0
Date Modified: October 2019
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Contents
1. Assessment Information 4
A. Purpose of assessment 4
B. What you are required to do 4
C. Competencies being assessed 4
D. Important resources for completing this assessment 5
E. A note on plagiarism and referencing 6
F. A note on questions with role plays 6
G. Instructions for completing this assessment 6
2. Assessment Coversheet 8
3. Assessment Questions 9
A. Task A - Demonstrate risk management knowledge 9
B. Task B - Establish risk context 10
C. Task C - Identify and analyse risks 14
D. Task D - Select and implement treatments 17
4. Student Self Checklist 20

1. Assessment Information
A. Purpose of assessment
This assessment will develop your skills and knowledge required to manage risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting.
B. What you are required to do
For this assessment, you are required to complete 4 tasks:
• Task A – Demonstrate risk management knowledge
• Task B – Establish risk context
• Task C – Identify and analyse risks
• Task D – Select and implement treatments
All tasks of this assessment require you to use the provided case study information relating to the fictional company Greendale.
C. Competencies being assessed
Elements
To achieve competency in this unit you must demonstrate your ability to:
1. Establish risk context
2. Identify risks
3. Analyse risks
4. Select and implement treatments

Performance Evidence
Evidence of the ability to:
• Analyse information from a range of sources to identify the scope and context of the risk management process including:
o Stakeholder analysis
o Political, economic, social, legal, technological and policy context
o Current arrangements
o Objectives and critical success factors for the area included in scope
o Risks that may apply to scope
• Consult and communicate with relevant stakeholders to identify and assess risks, determine appropriate risk treatment actions and priorities and explain the risk management processes
• Develop and implement an action plan to treat risks
• Monitor and evaluate the action plan and risk management process
• Maintain documentation
Knowledge Evidence
To complete the unit requirements safely and effectively, the Candidate must be able to demonstrate knowledge of the following:
• Outline the purpose and key elements of current risk management standards
• Outline the legislative and regulatory context of the organisation in relation to risk management
• Outline organisational policies, procedures and processes for risk management
For further information on the competencies of this unit, please refer to: https://training.gov.au/Training/Details/BSBRSK501
D. Important resources for completing this assessment
To complete this assessment, please refer to the following resources provided on Moodle:
• BSBRSK501 Manage risk learner guide
• BSBRSK501 Observation checklist
• BSBRSK501 Marking Guide
• BSBRSK501 Case study folder
• BSBRSK501 Legislation, regulation, codes and standards folder
• Additional student assessment information
E. A note on plagiarism and referencing
Plagiarism is a form of theft where the work, ideas, inventions etc. of other people are presented as your own.
When quoting or paraphrasing from a source such as the Internet, the source must be recognised. If you are quoting a source, make sure to acknowledge this by including “quotation marks” around the relevant words/sentences or ideas. Note the source at the point at which it is included within your assessment, such as by using a citation. Then list the full details of the source in a ‘references’ section at the end of your assessment.
All sources used for your assessment should be detailed in a ‘references’ section. It is advisable to never copy another person’s work.
F. A note on questions with role plays
The following questions involve role plays:
• Task C, Question C2
• Task D, Question D2
For these questions, as outlined below, you will be assessed on your ability to role play being an Assistant Manager at Greendale. These questions require you to manage meetings and take notes on what is discussed. Your Trainer & Assessor will also observe your meeting for Task D, Question D2.
Please note: You will also need to attend separate meetings organised by other students whereby you role play being other people. This allows other students in your unit to also role play being the Assistant Manager. You do not need to take notes at meetings during which you are not role playing being the Assistant Manager.
G. Instructions for completing this assessment
Answer the questions below using the spaces provided:
• Answer all parts of each question
• Use your own words and give examples wherever possible
• The quality of your answer is more important than how long it is
• Enter your answers in this document
You may use various sources of information to inform your answers, including your resources provided by ACBI, books, and online sources. You must acknowledge and cite your sources.
Submission via Moodle
Please refer to the “Instructions for Submitting Your Assessment” found within the unit course page on Moodle.
NOTE: Please take care to follow all instructions listed. Assessments uploaded with a draft status on Moodle may not be graded.

2. Assessment Coversheet
Candidate Name:
Student ID:
Contact Number:
Email:
Trainer / Assessor Name:
Qualification: BSB50618 Diploma of Human Resources Management
Units of Competency: BSBRSK501 Manage risk
Assessment Tasks: ? A. Demonstrate risk management knowledge
? B. Establish risk context
? C. Identify and analyse risks
? D. Select and implement treatments
Due Date: Date Submitted:
Declaration: I have read and understood the following information at the beginning of this assessment guide (please tick):
? Assessment information
? Submitting assessments
? Plagiarism and referencing
I declare this assessment is my own work and where the work is of others, I have fully referenced that material.
Name (please print):
Candidate signature:
Date:
3. Assessment Questions
A. Task A - Demonstrate risk management knowledge
A1. In your own words, write a paragraph explaining the purpose of risk management standards, legislation and regulation.
NOTE: Refer to pages 9-14 of the “BSBRSK501 Manage risk learner guide” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here

A2. Identify two or more risk management standards. Then describe key elements of each one.
NOTE: Refer to pages 13-14 of the “BSBRSK501 Manage risk learner guide” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here


B. Task B - Establish risk context
B1. In your own words, write a paragraph summarising Greendale’s risk management processes.
NOTE: Refer to the pages 18-19 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here

B2. In your own words, write a paragraph summarising Greendale’s risk management policies and procedures.
NOTE: Refer to pages 14-19 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here

B3. Describe the range of workplace hazards and risks associated with Greendale’s new store.
NOTE: Refer to pages 9-15 of the “BSBRSK501 Manage risk learner guide” document and pages 19-20 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here
B4. Outline three or more stakeholders in Greendale’s new store. Identify if they are an internal or external stakeholder, then describe their stake in managing risks.
NOTE: Answer using the table below. Refer to pages 16-17 of the “BSBRSK501 Manage risk learner guide” document and pages 14-15 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Stakeholder Internal or external Stake in managing risks
Write your answer here
Write your answer here
Write your answer here
Write your answer here
Write your answer here
Write your answer here
Write your answer here
Write your answer here
Write your answer here
B5. Describe at least two strengths and two weaknesses Greendale has for managing risks associated with its new store.
NOTE: Refer to page x of the “BSBRSK501 Manage risk learner guide” document and the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here

B6. Outline two or more goals Greendale has for its new store.
NOTE: Refer to pages 20-22 of the “BSBRSK501 Manage risk learner guide” document and the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here

B7. Describe two or more examples for each of the following areas that may affect the success of Greendale’s new store: political, economic, social, technological and legal.
NOTE: Refer to pages 18-19 of the “BSBRSK501 Manage risk learner guide” document and the“BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 60-120 words.
Write your answer here


C. Task C - Identify and analyse risks
C1. Using the information and research provided in the case study, identify at least 10 risks that relate to Greendale’s new store.
NOTE: Refer to pages 31-32 of the “BSBRSK501 Manage risk learner guide” document and pages 7-11, 19-20 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 60-120 words.
Write your answer here

C2. Now you have researched risks for Greendale, you need to discuss these with stakeholders. Set up a meeting with:
• Yourself, role playing the Assistant Manager at Greendale
• At least two relevant stakeholders, as role played by other students in your unit
Use the meeting to:
• Describe Greendale’s risk management process
• Identify and discuss 10-20 risks for Greendale’s new café, inviting others to help identify potential risks
• Obtain support for your risk management activities
After your meeting:
1. Record notes of what was discussed during your meeting in the space below. Answer in 40-80 words.
2. Detail identified risks in a risk register, using the “BSBRSK501 Risk register template” document provided on Moodle. Answer in 60-120 words.
NOTE: Refer to pages 24-30 & 33-35 of the “BSBRSK501 Manage risk learner guide” document and pages 18-20 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer.
Meeting notes
Write your answer here
C3. In your risk register, score each risk for the likelihood of it occurring. Score your identified risks as follows:
• 1 – Rare
• 2 – Unlikely
• 3 – Possible
• 4 – Likely
• 5 – Most likely
NOTE: Refer to pages 38-42 of the “BSBRSK501 Manage risk learner guide” document and the “BSBRSK501 Case study information” document provided on Moodle to inform your answer.
C4. In your risk register, score each risk for the potential consequence it would have if it occurred. Score your identified risks as follows:
• 1 – Very low
• 2 – Low
• 3 – Moderate
• 4 – High
• 5 – Extreme
NOTE: Refer to pages 38-42 of the “BSBRSK501 Manage risk learner guide” document and the “BSBRSK501 Case study information” document provided on Moodle to inform your answer.
C5. Using the risk matrix provided below, determine the risk level of each of the risks you have identified. Document these risk levels in your risk register.
Save your risk register as “BSBRSK501 Risk register – Your Name”, replacing “Your Name” with your first and last names. Ensure you submit this document as part of your assessment.
NOTE: Refer to pages 43-44 of the “BSBRSK501 Manage risk learner guide” document and the “BSBRSK501 Case study information” document provided on Moodle to inform your answer.

D. Task D - Select and implement treatments
D1. Now you have analysed identified risks, you need to determine treatments. Develop a risk action plan which outlines:
• The priority of risks for treatment
• The most appropriate options for treating risks
• Relevant implementation details
Use the “BSBRSK501 Risk action plan template” provided on Moodle to create your plan. Save your plan as “BSBRSK501 Risk action plan – Your Name”, replacing “Your Name” with your first and last names. Ensure you submit this document as part of your assessment.
NOTE: Refer to pages 43-54 of the “BSBRSK501 Manage risk learner guide” document and pages 18-19 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 150-250 words.
D2.
THE SCENARIO:
Now you have created your risk treatment plan, you need to communicate risk management processes to others. Set up a meeting with:
• You, acting as the Assistant Manager at Greendale
• Relevant parties, as role played by other students in your unit
NOTE: Your Trainer & Assessor will also observe this meeting.
WHAT YOU NEED TO DO BEFORE YOUR MEETING:
Organise a day and time for your meeting, in line with the availability of other students in your unit as well as your Trainer & Assessor. This meeting should take no more than 10 minutes.
You are required to manage the meeting. Prior to the meeting ensure you have read the instructions below on what you’ll be required to do during the meeting and prepare as necessary.
WHAT YOU NEED TO DO DURING YOUR MEETING:
Use the meeting to communicate risk management processes and action plans for Greendale’s new store.
Ensure you take note of what you discuss during the meeting.
WHAT YOU NEED TO DO AFTER YOUR MEETING:
Record notes of what was discussed during your meeting, including any feedback received.
Answer in 40-80 words.
Meeting notes
Write your answer here
D3. Review the implementation results provided in the case study. Then summarise of all actions taken to date in attempting to manage identified risks.
NOTE: Refer to pages 60-61 of the “BSBRSK501 Manage risk learner guide” document and pages 23-24 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here

D4. Review the implementation results provided in the case study, then evaluate the effectiveness of Greendale’s risk management process.
NOTE: Refer to pages 62-63 of the “BSBRSK501 Manage risk learner guide” document and pages 23-24 of the “BSBRSK501 Case study information” document provided on Moodle to inform your answer. Answer in 40-80 words.
Write your answer here


4. Student Self Checklist
A. Student Self Checklist for Tasks A - D
Candidate name:
Unit of Competency: BSBRSK501 Manage risk
Instructions:
Place a tick ‘? ’ in the Yes (“Y”) column for each question you have completed all parts for.
Task A - Demonstrate risk management knowledge
Did you: Y
?
A1: In your own words, write a paragraph explaining the purpose of risk management standards, legislation and regulation?
A2: Identify two or more risk management standards? Then describe key elements of each one?
Task B - Establish risk context
Did you: Y
?
B1: In your own words, write a paragraph summarising Greendale’s risk management processes?
B2: In your own words, write a paragraph summarising Greendale’s risk management policies and procedures?
B3: Describe the range of workplace hazards and risks associated with Greendale’s new store?
B4: Outline three or more stakeholders in Greendale’s new store? Identify if they are an internal or external stakeholder, then describe their stake in managing risks?
B5: Describe at least two strengths and two weaknesses Greendale has for managing risks associated with its new store?
B6: Outline two or more goals Greendale has for its new store?
B7: Describe two or more examples for each of the following areas that may affect the success of Greendale’s new store: political, economic, social, technological and legal?
Task C - Identify and analyse risks
Did you: Y
?
C1: Using the information and research provided in the case study, identify at least 10 risks that relate to Greendale’s new store?
C2: Set up a meeting with:
• Yourself, role playing the Assistant Manager at Greendale?
• At least two relevant stakeholders, as role played by other students in your unit?
Use the meeting to:
• Describe Greendale’s risk management process?
• Identify and discuss 10-20 risks for Greendale’s new café, inviting others to help identify potential risks?
• Obtain support for your risk management activities?
After your meeting:
1. Record notes of what was discussed during your meeting in the space provided, answering in 40-80 words?
2. Detail identified risks in a risk register, using the “BSBRSK501 Risk register template” document provided on Moodle”, answering in 60-120 words?
C3: In your risk register, score each risk for the likelihood of it occurring? Score your identified risks as follows:
• 1 – Rare?
• 2 – Unlikely?
• 3 – Possible?
• 4 – Likely?
• 5 – Most likely?
C4: In your risk register, score each risk for the potential consequence it would have if it occurred? Score your identified risks as follows:
• 1 – Very low?
• 2 – Low?
• 3 – Moderate?
• 4 – High?
• 5 – Extreme?
C5: Using the risk matrix provided below, determine the risk level of each of the risks you have identified? Document these risk levels in your risk register?
Save your risk register as “BSBRSK501 Risk register – Your Name”, replacing “Your Name” with your first and last names? Ensure you submit this document as part of your assessment?
Task D - Select and implement treatments
Did you: Y
?
D1: Develop a risk action plan which outlines:
• The priority of risks for treatment?
• The most appropriate options for treating risks?
• Relevant implementation details?
Use the “BSBRSK501 Risk action plan template” provided on Moodle to create your plan. Save your plan as “BSBRSK501 Risk action plan – Your Name”, replacing “Your Name” with your first and last names? Ensure you submit this document as part of your assessment?
D2: Set up a meeting with:
• You, acting as the Assistant Manager at Greendale?
• Relevant parties, as role played by other students in your unit?
Use the meeting to communicate risk management processes and action plans for Greendale’s new store?
After the meeting, record notes of what was discussed, including any feedback received?
D3: Review the implementation results provided in the case study? Then summarise of all actions taken to date in attempting to manage identified risks?
D4: Review the implementation results provided in the case study, then evaluate the effectiveness of Greendale’s risk management process?