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BSBRSK501 Manage Risk / Risk Review Queensland Australia

BSBRSK501 Manage Risk / Risk Review for Management Students -Queensland Australia


Assessment Task 1 forms the basis for all three assessment tasks.

The combined assessments require you to:

•   Establish the risk context of the current environment.

•   Identify and analyse the risks for a particular activity.

•   Consult with stakeholders.   

•   Develop and implement a risk management plan.

•   Review the risk treatments and process.

Assessment Task 1 requires you to establish a workplace project or activity

with scope to determine the risk context within the existing business structure.              

Assessment Task 2 requires you to develop a Risk Management Plan in consultation with relevant stakeholders.

Assessment Task 3 requires you to implement the risk management plan including at least two risk treatments plus review the plan and treatments in consultation with your Assessor.      

Assessment Task 1

Assessment Task 1 requires you to determine a workplace project with scope for risk management. If you do not have access to a workplace and/or activity you can establish a simulated scenario with your Assessor, using colleagues within the program as stakeholders and participants in the risk management process.

You are required to include a review of current risk management processes including identification and analysis of the following:

•             internal and external environment factors

•             current risk management standards - purpose and key elements

•             legislative and regulatory context

•             organisational policies, procedures and processes.


You are then required to establish the activity / project with scope for a risk management plan.

By submission of this activity proposal and analysis report your Assessor will confirm the activity has the scope for the associated risk management process which will be conducted in assessment tasks 2 and 3.

Students can use policy and procedures and templates from their workplace or the simulated environment Superior Implements (SIM Co.)

Materials To Be Supplied From Superior Implement (SIM Co.) Intranet:

•             Risk Management Policy

•             Risk Management Plan

•             Stakeholder Communication plan.


Work, Health and Safety:

Students should conduct a risk assessment for any work environment and activity including:

•             ergonomic and safe work station

•             professional interactions with stakeholders

•             internet safety and security of information.

Assessment Criteria:

To achieve a satisfactory result, your Assessor will be looking for your ability to demonstrate the following key skills/tasks/knowledge to an acceptable industry standard:

             •                Information analysis.

                •             Organisational policies and procedures and risk management standards.

                •             Legislative and regulatory context.

                •             Stakeholder consultation and communication.

                •             Documentation development and maintenance.

Instructions to Assessor

The Student Is Required To Determine a Workplace Activity Which Has Scope for Risk Management Processes.

Assessment Task 1 requires the student to establish the current risk management standards and organisational processes plus the workplace activity they will conduct the risk management process within. If the student does not have a current workplace and/or opportunity to develop and implement the risk management plan they are to negotiate a scenario with yourself as the Assessor which will meet the requirements of the assessment. This activity will then require the establishment of fellow students within the unit plus yourself as “stakeholders” in the scenario and for the implementation of the risk treatments, to enable the student to complete the tasks.

Students can use policy and procedures and templates from their workplace or the simulated environment Superior Implements (SIM Co.).

 Materials to be supplied from Superior Implement (SIM Co.) intranet:

                •             Risk Management Policy

                •             Risk Management Plan

                •             Stakeholder Communication plan.

Use the Marking Criteria provided to assess the student’s proposal and analysis of the current situation. Provide feedback to the student on the appropriateness of the scope for risk management in the activity identified. If the activity doesn’t provide the scope for the risk management required require the student to modify their activity and resubmit as their second attempt. If the activity does allow for the scope of risk management and meets all Marking Criteria provide constructive feedback the student can use in Assessment Task 2 to modify their plan.


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