BSBRSK501 Learner Assessment Tasks

BSBRSK501 Manage risk
Learner Assessment Guide
BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Richmond School of Business. CRICOS Code: 03717E |RTO Code: 45432
BSBRSK501 Learner Assessment Guide
UNIT OVERVIEW
Unit Description
This unit describes 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. It applies
to individuals who are working in positions of authority and are approved to implement change
across the organisation, business unit, and program or project area. They may or may not
have responsibility for directly supervising others.
ELEMENT PERFORMANCE CRITERIA

Elements describe the Performance criteria describe the performance needed to
essential outcomes. demonstrate achievement of the element.
1. Establish risk 1.1 Review organisational processes, procedures and requirements
context for undertaking risk management in accordance with current risk
management standards
1.2 Determine scope for risk management process
1.3 Identify internal and external stakeholders and their issues
1.4 Review political, economic, social, legal, technological and policy
context
1.5 Review strengths and weaknesses of existing arrangements
1.6 Document critical success factors, goals or objectives for area
included in scope
1.7 Obtain support for risk management activities
1.8 Communicate with relevant parties about the risk management
process and invite participation
2. Identify risks 2.1 Invite relevant parties to assist in the identification of risks
2.2 Research risks that may apply to scope
2.3 Use tools and techniques to generate a list of risks that apply to
the scope, in consultation with relevant parties
3. Analyse risks 3.1 Assess likelihood of risks occurring
3.2 Assess impact or consequence if risks occur
3.3 Evaluate and prioritise risks for treatment
4. Select and 4.1 Determine and select most appropriate options for treating risks
implement treatments 4.2 Develop an action plan for implementing risk treatment
4.3 Communicate risk management processes to relevant parties
4.4 Ensure all documentation is in order and appropriately stored
4.5 Implement and monitor action plan
4.6 Evaluate risk management process

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ASSESSMENT EVIDENCE
To achieve competency in this unit a student must demonstrate their ability to:
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:
• stakeholder analysis
• political, economic, social, legal, technological and policy context
• current arrangements
• objectives and critical success factors for the area included in scope
• 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 individual must:
• 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
Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered
demonstrates consistent performance of typical activities experienced in the regulation,
licensing and risk - risk management field of work and include access to:
• relevant legislation, regulations, standards and codes
• relevant workplace documentation and resources
• case studies and, where possible, real situations
• interaction with others

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INFORMATION FOR STUDENTS

Assessment Information
Prior to Assessment
Your Trainer/Assessor will advise you of your rights before and after assessments, including
the right to appeal.
Your Trainer/Assessor will provide you with all relevant information relating to the
assessments prior to commencement, and of the appeals procedure that can be utilised if you
wish to appeal against the assessment outcome or make a complaint.
Results
You will be informed of the outcome of your assessment as soon as possible from the date
the assessment was submitted. Prompt feedback will be offered to you on the outcome of the
assessment. Feedback will be delivered in written and where possible, verbal form to you.
AQF Specifications for Assessments

This assessment is set in accordance with the criteria for AQF Level 5. Diploma qualifications
must be designed and accredited to enable graduates to demonstrate the learning outcomes
expressed as knowledge, skills and the application of knowledge and skills specified in the
level 5 criteria.
Diploma descriptor
Summary
Graduates at this level will have specialised knowledge and skills for skilled/paraprofessional
work and/or further learning
Knowledge
Graduates at this level will have technical and theoretical knowledge in a specific area or a
broad field of work and learning
Skills
Graduates at this level will have a broad range of cognitive, technical and communication skills
to select and apply methods and technologies to:
• Analyse information to complete a range of activities
• Provide and transmit solutions to sometimes complex problems
• Transmit information and skills to others
Application
Graduates at this level will apply knowledge and skills to demonstrate autonomy, judgement
and defined responsibility in known or changing contexts and within broad but established
parameters.
ACSF Specifications and Foundation Skills

The term ‘Foundation Skills’ is currently used to include the core skills defined in the

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Australian Core Skills Framework (ACSF) as well as the employability skills identified by
employers as critical for effective performance in the workplace. The core skills of the ACSF
include reading, writing, oral communication, numeracy and learning.
Foundation skills encompass the core skills of reading, writing, oral communication,
numeracy and learning as described by the Australian Core Skills Framework (ACSF), and
the Employability Skills/Core Skills for Work. They exist on a continuum from very basic skills
to highly-developed and specialist skills.
Assessment Process
To demonstrate competence in this unit, you must undertake all tasks in this assessment
booklet and complete them satisfactorily and in addition, also satisfactorily complete the
practical assessment, including demonstrating communication skills during the practical
activities. After you have demonstrated consistency in performance you will be awarded this
unit.
Should a student be deemed ‘Not Competent’, the student will be offered the opportunity to
undertake a supplementary assessment or appeal the result.
As part of the assessment process, you must abide by any relevant assessment policies as
provided to you. If you feel you are not yet ready to be assessed or this assessment is unfair,
please discuss with your assessor all options that are available to you to enable you to
complete the assessment.
Submitting Assessments
You should submit assessment tasks with the provided cover sheet.
Assessments should be submitted on or before their due date. Extensions for individual
assessment tasks may be negotiated in specific circumstances. Consultation on this must
occur prior to the due date and extensions due to illness will require a medical certificate.
Extensions must be confirmed by the Trainer/Assessor in writing.
Plagiarism and Referencing

All students are reminded that plagiarism will not be tolerated. Information, ideas etc. quoted
or paraphrased from another source, must be acknowledged with “quotation marks” around
the relevant words/sentences or ideas and cited at the end of the document. Sources of
information, ideas etc. must be provided in alphabetical order by author’s surname (including
author’s full name, name of document/ book/internet etc. and year and place of publishing)
or may be included in brackets in the text.
Assessment Outcomes
There are two (2) outcomes of assessments: Satisfactory and Not Satisfactory (requires
more
training and experience).
You will be awarded a ‘Competent’ grade on completion of the unit when the trainer/assessor
is satisfied that you have completed all assessments and have provided the appropriate
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evidence required to meet all criteria. If you fail to meet this requirement you will receive the
result of Not Competent and will be eligible to be re-assessed.
Re-assessment
Students will be allowed two (2) further attempts at an assessment for which the outcome is
Not Satisfactory, within the timeframe of a course (unit of competency). No additional fees
will be charged.
Students who require re-assessment beyond the delivery timeframe of a unit or due date of
an assessment, unless it is due to medical reasons, will be given the opportunity to request
additional time to resubmit and in this time, they can request a mentoring session as
required.
Reasonable Adjustment
RTOs and trainer/assessors are obliged by law to make reasonable adjustment to ensure
maximum participation of students with disability in teaching, learning and assessment
activities. This includes:
 Ensuring that course activities are sufficiently flexible;
 Providing additional support where necessary; and
 Offering a reasonable substitute within the context of the course where a student
cannot participate
Reasonable adjustment is defined in section 4 (1) of the Employment and the Disability
Discrimination Act as ‘an adjustment to be made by a person is a reasonable adjustment
unless making the adjustment would impose an unjustifiable hardship on the person’.
Reasonable adjustment as it applies to participation in learning and assessment activities

may include:
 Customising resources or activities within a training package or accredited course;
 Modifying a presentation medium;
 Providing additional support;
 Providing assistive or adaptive technologies;
 Making additional information accessible both before enrolment and during the
course; and
 Monitoring these adjustments to ensure that the student’s needs continue to be met
Examples of reasonable adjustment:
Category Possible issue Possible Strategies
• Verbal assessment
• Speaking
• Presentations
• Reading
LLN • Demonstration of a skill
• Writing
• Use of diagrams
• Confidence
• Use of support documents such as word lists
• Knowledge and • Culturally appropriate training
Indigenous understanding • Explore understanding of concepts and practical
• Flexibility application through oral assessment
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• Services • Flexible delivery & using group rather than

• Inappropriate individual assessments
training and • Assessment through completion of practical
assessment tasks in the field after demonstration of skills and
knowledge.
• Discuss with the student and supervisor whether
language, literacy and numeracy are likely to
impact on the assessment process
• Use methods that do not require a higher level
of language or literacy than is required to
perform the job role
• Speaking
• Use short sentences that do not contain large
• Reading
Non-English amounts of information and clarify information by
• Writing
Speaking rephrasing, confirm understanding
• Cultural
Background • Read any printed information to the student
background
• Use graphics, pictures and colour coding instead
• Confidence
of, or to support, text
• Offer to write down, or have someone else write,
oral responses given by the candidate
• Ensure that the time available to complete the
assessment, takes account of the student’s
needs
• Educational • Make sure font size is not too small
background • Assessor should refer to the student’s
• Age of the experience
Age
assessor • Ensure that the time available to complete the
• Limited study assessment takes account of the student’s
skills needs
• Reading • Discuss with the student their previous learning
• Writing experience
• Numeracy • Ensure learning and assessment methods meet
Educational
• Limited study the learner’s individual need
background
skills and /or
learning
strategies
• Speaking • Identify the Issues
• Reading • Create a climate of support & ensure access
• Writing • Appropriately structured assessment
Disability
• Numeracy • Using other’s expertise
• Learning
Strategies
An individual’s access to the assessment process should not be adversely affected by

restrictions placed on the location or context of assessment beyond the requirements
specified in the training package. Reasonable adjustments can be made to ensure equity in
assessment for people with disabilities. Adjustments include any changes to the assessment

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process or context that meet the individual needs of the person with a disability, but do not
change competency outcomes.
When assessing people with disabilities, trainer/assessors are encouraged to apply good
practice assessment methods with sensitivity and flexibility.
The assessment process must:
 Provide for valid, reliable, flexible and fair assessment
 Provide for judgement to be made on the basis of sufficient evidence
 Offer valid, authentic and current evidence
Access and Equity

Please speak to your trainer/assessor if you require assistance with any access and equity
concerns you may have.
Recognition of Prior Learning

If you can demonstrate that you have the skills and knowledge within this unit, you should
speak to your trainer/assessor about this and apply for recognition of prior learning.

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ASSESSMENTS
There are three forms of evidence gathering methods for this unit of competency. Students
are required to complete them all.
Your assessor will advise students when assessments are due, make arrangements for the
practical demonstration and ensure all necessary resources are available.
1. Written Questions
This assessment consists of 20 short answer questions to assess the student’s knowledge of
BSBRSK501 Manage risk. Students must answer all questions. Most questions require short
answers although some require a more detailed response. A word length is given for each
question. Students may use various sources of information including: text books, learning
workbooks, other documents and the internet and they must list their sources.
2. Case Study & Practical Demonstration

Students are required to respond to a case study which includes undertaking the entire risk
management process and writing a report. Students are also required to demonstrate their
communication and consultation skills and knowledge of the risk management process by
organising and facilitating a meeting.
STUDENT ASSESSMENT INSTRUCTIONS

To demonstrate your competency in this unit you must successfully complete both theory and
practical assessment tasks. The practical assessment will be conducted at a date and place
to be advised by your Trainer/Assessor.
All questions must be answered correctly for each assessment task to be completed
satisfactorily. There is no restriction on the length of the question responses, or time restriction
in completing the assessment, unless specified.
You must complete all questions unassisted by the assessor or other personnel, but may refer
to reference material as needed.
If the practical assessment activities are not appropriate for you, please discuss this with your
assessor who will seek to provide alternate activities that will allow you to provide evidence
for the assessment. Your assessor will document any alternate activities that you undertake.

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ASSESSMENT 1: WRITTEN QUESTIONS

Students are to answer the following questions.
Questions
1 List two examples of each of the following types of risk: (5-20 words each)
a. Operational risks
b. Strategic risks
c. External risks
2 Describe the six key steps of the risk management process. (200-300 words)
3 What are the two components of risk management that must occur continually
throughout the process? (2-5 words)
4 List three sources of information that you might use in order to understand your
organisation’s objectives. (5-10 words)
5 Explain and describe two items that might be considered for each of the components
of a PESTL analysis. (250-350 words)
6 Explain what a stakeholder is and what methods you might use to identify internal and
external stakeholders? (200-250 words)
7 Describe the meaning of ‘risk criteria’ and its purpose? (50-100 words)
8 List three reasons why continual communication is critical to good risk management.
(150-250 words)
9 Identify and explain five tools that you might use in order to identify risks. (100-200
words)
10 What are the main components of a risk analysis? (5-15 words)
11 What is the difference between qualitative and quantitative risk analysis? (200-250
words)
12 Why would you use a likelihood and consequence table? (40-80 words)
13 Explain five options for risk treatment. (40-80 words)
14 What is a cost–benefit analysis? (20-30 words)
15 What factors should be considered when conducting a cost–benefit analysis? (20-30

words)

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16 Identify and explain five items that should be documented in a risk management plan.
(200-250 words)
17 Why is it important to ensure continual reviewing of the risk management plan? (80-
150 words)
18 Describe three mechanisms that can be used to ensure continual monitoring and
updating of the risk management plan. (120-180 words)
19 In your own words, describe the following types of the legislation, codes of practice
and national standards which relate to risk management in an organisation and provide
two (2) examples of how they apply: (15-25 words each)
Legislation Description and Examples

(a) Duty of Care
(b) Company Law
(c) Contract Law
(d) Environmental
Law
(d) Privacy Law
20 Why are risk management standards necessary for risk management and how are they
applied in the workplace? (80-160 words)

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Assessment Task 1: Written Questions
RESULTS SHEET
Student Name:
Trainer/Assessor
Name:
Date of Assessment:
Unit of Competency: BSBRSK501 Manage risk
Response
Question Not Comments
Satisfactory
Satisfactory
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Feedback to Student:

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Student’s overall  Satisfactory  Not Satisfactory

performance is:
Is re-assessment  Yes  No
necessary?
Trainer/Assessor Date:
Signature:
Student Signature: Date:

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ASSESSMENT 2: CASE STUDY & PRACTICAL

DEMONSTRATION
This assessment requires the completion of the Town and Country case study and
participating in a role play meeting.
Instructions to Assessor
Place the students into project teams of a minimum of five people, comprising the Risk
Manager (the student) and four stakeholders. At least two people shall be external
stakeholders and two people shall be internal stakeholders.
Stakeholder roles
Internal stakeholders
 Human Resources Officer - responsible for recruiting and inducting new staff
 Marketing Manager – responsible for a media campaign for the launch of the new
innovative building technique.
External stakeholders
 Owner, Orange Building Supplies – has a contract to provide all the building materials
for TCS jobs for the first 12 months
 Owner, Orange City Real Estate – has a contract to locate appropriate premises and
arrange lease documents. Will also be a good network source.
Students may nominate different stakeholders that are more appropriate to their specific
situation.
The project teams will meet twice and will be briefed by you on how they are to participate.
The stakeholders will need to draw on their knowledge of the risk management process,
especially the role and responsibilities of stakeholders and information they have found during
their research for this assessment. You can coach team members in their role if necessary to
ensure they contribute to the process. The Risk Manager (student) will use tools and
techniques, such as brainstorming and fish bone diagrams to generate a list of risks.
You must observe the meetings, either in person or by using technology (e.g. Skype,
recording) and complete the decision matrix in Appendix 1. During the meetings students must
establish and use appropriate conventions and protocols when consulting and negotiating with
stakeholders about risk management.

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Instructions to the student

For this assessment you are required to conduct a review of the Town and Country Services
case study (provided below) and then complete the tasks that follow.
Resources required for this assessment

 Research materials such as books, the Internet, etc.
 Learning materials for the unit BSBRSK501 Manage risk
 The Town and Country Services Risk Management Policy and Procedure and AS/NZ ISO
13000 Risk Management Overview will be provided by your assessor
 Access to a computer.
Please note that although you will be working with a team for some assessment activities, and
the assessment tasks may require the inclusion of team responses/ideas, all answers much
be your own work.
The assessment is to be undertaken on the date specified by your assessor. Your assessor
must approve any variations to this arrangement in writing.
Town and Country Services
Regional Expansion Project
As part of Town and Country Services’ (TCS) strategic plan, it will open an office in the large
regional city of Orange, NSW to provide a range of architectural services. These services
are:
 providing a panel of consultant architects who will visit the office 1 day per week
 making appointments for local people to meet with the consultants
 drawing plans for owners and builders
 supervising construction projects
 conducting dispute mediation between the individual and the local authorities about
planning and building matters
 collecting fees and charges for services delivered.
Orange was selected because it is a large regional population and employment centre with
sound economic growth. In addition, local government is very supportive of new business
opening up in the area and typically facilitates planning approvals within the stated customer
service timeframe standards.

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It is planned to rent an office at street level that has sufficient space to enable meetings with
the visiting consultants & private rooms for mediation services. The office will also need
video conferencing capacity as an alternative communication method for remote clients.
This will ensure that TCS can provide dispute mediation for individuals who do not wish to
appear in person or who may be living some distance from the town. It is expected that the
office will require a full high-spec fit-out to make them suitable for TCS and reflect the
company’s values as a quality provider of design services.
Four full-time and four part-time staff will need to be recruited. Full time staff require previous
experience in working with architectural services and local government.
Initial research suggests that due to solid economic growth in the regional centre, 70% of
the services will be for architectural projects, including both domestic and commercial
buildings with up to 40% of projects employing TCS to manage the build. In addition to the
range of architectural services currently provided, TCS is going to launch its innovative
approach to building techniques. The new approach, although 20% more expensive than
traditional building methods, reduces the building time by 35%; however, specialist building
products are required at specific periods during the build.
Traditionally, local councils have long approval times and make conservative planning
decisions; however, changes to the planning regulations have resulted in a change to the
planning and approval procedures. This means that Council is obliged to operate within its
stated customer service timeframe standards.
Initial costings have been developed and it is expected that at the end of the first 12 months
of operation the new office will be cost neutral. Town and Country Services has not
budgeted for any profit until the end of the second year.
Everything needs to be ready in 5 months from today to meet operational deadlines and the
launch of planned media campaign about Town and Country Services’ innovative time
saving building techniques.
This assessment is in two parts. For Part 1 you are required to manage risks in a range of
contexts across Town and Country Services and complete a number of written documents.
For Part 2 you are required to participate in a meeting.
You must demonstrate your ability to:

1. Establish the risk context
2. Identify risks
3. Analyse risks
4. Select and implement treatments.
The Town and Country Services Risk Management Policy and Procedure and AS/NZ ISO
13000 Risk Management Overview will be provided by your assessor.

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Part 1
You must submit a report with appropriate sections, headings and tables, charts, diagrams or
flowcharts including: (4-5 pages)
 Description of the business, goals, analysis of external factors and critical success
factors
 Identification and analysis of external factors
 Identification of stakeholders
 PESTL and SWOT analyses
 Risk Assessment Table (and supporting Likelihood and Consequence table and
Consequence Criteria)
 Risk Management table
 Action Plan
 Strategy for implementation of the risk management plan
 Report on implementation of your risk management action plan and process
 List of sources of information used and any supporting documents.
The report should be a formal, typed document with detailed information organised into
sections with appropriate headings, and risk tools and supporting documents included as
appendices.
Assessment Criteria – Part 1

Your performance for this assessment will be assessed against the criteria and evidence
requirements in the following ‘Decision Matrix Marking Guide’ at the end of this assessment.
Part 2
The second part of this assessment requires you to participate in a meeting, during which you
must demonstrate your ability to communicate details of, invite participation in, and obtain
support for the risk management process. Your assessor will place you into a project team of
a minimum of five people, comprising the Risk Manager (you) and the four stakeholders. At
least two people shall be external stakeholders and two people shall be internal stakeholders.
The meeting will be in a simulated workplace, which will be organised by your assessor. Your
assessor will brief the meeting attendees on their role.
The purpose of the meeting is to:

 Communicate the risk management process
 Invite participation in the risk management process, including identification of risks
 Obtain support for risk management activities.
During the meeting, you are to:

1. Establish and use appropriate conventions and protocols when communicating with
stakeholders about risk management
2. Use tools and techniques to generate a list of risks – such as brainstorming, fish bone
diagram
3. Consult and negotiate with stakeholders about risk management processes, including
identification of risks and outcomes
4. Obtain support for risk management activities.
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The meeting must be observed by the assessor either in person or by using technology (e.g.
Skype, recording).
Assessment Criteria – Part 2

 Your performance for this assessment will be assessed against the criteria and
evidence requirements in the ‘Decision Matrix Marking Guide’ found at the end of this
assessment.

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Town and Country Services

As the Risk Manager, it is your responsibility to identify and manage the risks in the regional
expansion project. The Board of Directors of Town and Country Services will be responsible
for strategic and financial risks and will monitor the project budget.
Develop a risk management plan which includes:

 a detailed stakeholder analysis
 explanation of the risk context
 identification of critical success factors
 identification of risks
 analysis of risks
 treatments for prioritised risks
 details of monitoring arrangements
 reporting mechanisms for the risk management plan
 an evaluation of the risk management plan’s efficacy in treating risks.
Complete a written report of 4 to 6 pages for your manager (your assessor) that
addresses the following 4 Stages of the risk management process.
Stage One: Establishing the risk context and identifying risks
1. Context
When developing a risk management plan, you first need to establish the context of risk in
relation to external factors. You must review and monitor industry information and trends in
the region. It is essential the risk analysis is based on careful industry research.
Identify external factors that could have an impact upon the success of the project. Write a
report of 1.5 or 2 pages with the following five headings and provide one paragraph under
each heading:
 Political factors
 Economic factors
 Social factors
 Technological factors
 The strengths and weaknesses of any existing arrangements.
You will use this information again in Part 4 – Analysis.
2. Scoping
Clearly identify the project’s goals or objectives and its scope and critical success factors of
risk management and any current arrangements.
Describe goals/objectives of the business. Consider factors including:

 Technological innovation
 New products or services
 Opening new markets
 Organisational structure.

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Identify the Critical Success Factors – factors that must be present for the project to be
successful and promote Town and Country Service’s goal.
The information may be presented in a table.
SCOPE:
OBJECTIVES:
CRITICAL
SUCCESS
FACTORS:
3. Stakeholders
Identify internal and external stakeholders, their role and responsibility in the process, any
issues or concerns they have and what they aim to achieve. Stakeholders should be
considered as any individual, group or entity that the project will affect, and may include but
not be limited to:
 Clients or customers
 Suppliers and contractors
 Internal personnel
 A project funding body.
Present this information in the Table of Stakeholders template below.
Stakeholder Internal / Role in process Stake in process

External
Outline the methods that you can use to communicate with relevant parties and obtain their
support for risk management activities. Explain the kinds of support that you would invite them
to give. Relevant parties include:
 all staff
 internal and external stakeholders
 specific teams

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 technical experts.
4. Analysis
Complete the following analyses of the project:
(a) PESTL (Political, Policy, Economic, Social, Technological and Legal) analysis
(b) a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis.
Refer to your report from Task 1 - Context. Use a table format to present this information. You
should get some of the stakeholders in your project team to contribute to this.
5. Research
Review and summarise the information you found, as well as any relevant literature and the
Town and Country Services Risk Management Policy & Risk Management Strategy provided
to you.
Stage Two – Analysing the risks

Analyse the risks identified in Stage One, develop an action plan for the treatment of risks and
communicate it to relevant parties. (2-4 pages)
You need to analyse the potential risks from various viewpoints. Look at the likely
consequence of the risk event and the likelihood of the risk event occurring. Finally, look at
the level of risk and decide which risks need treatment.
Consult with your project team of stakeholders (including colleagues) to help you identify the
risks.
1. Risk Assessment table - Develop a report for your stakeholders. Use the table below to
develop a risk assessment plan, including:
a. Likelihood of the risk occurring.
b. Consequence for each risk.
c. Priorities – use a risk calculation table to assist in prioritising the risks.
d. Options – for each prioritised risk outline at least two (2) suitable options for treating
the risk.
For your risk calculation, you can use the Risk and Consequence table shown below or a
similar format. You must also include the Consequence Criteria that is appropriate for the
project.

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RISK ASSESSMENT:
Risk/Priority Risk Action Plan
Rating
1
2
3
4
5
2. Discuss this report with your colleagues and stakeholders to obtain their feedback and
then adjust as required. Document their feedback and how you addressed it.
Before going on to Stage Three, submit your Risk Assessment documents to your manager
(assessor), who will have responsibility to distribute it within the organisation.
Stage Three – Identifying measures to treat the risks

Develop a Risk Management Plan to treat the risks and monitor the implementation.
1. Risk Management Plan – develop a risk management plan by completing the table below.
At this stage, you are to exclude estimated costings (currently being dealt with by the Board
of Directors for Town and Country Services).
Risk Management Plan (template)
Risk Assess Controls Monitoring Timelines Responsible

Risk
2. Action Plan - Develop an action plan for implementing your risk management plan.
(a) List all the people who will need to know your risk management processes.
(b) Describe how you will file and store your risk management documentation so that it can be
easily accessed by those who need it.
(c) Describe the process you will use to evaluate your risk management on an ongoing basis.
3. Monitor and evaluate the risk management plan - Describe how you will monitor and
evaluate the risk management plan. Include how you will monitor your Critical Success

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Factors, the evaluation mechanisms and processes, who will be responsible and the
timeframes.
Stage Four – Implementing and monitoring the risk treatment plan
Read the following information and answer the questions that follow.
Regional Expansion Project
You have been managing the risks of the Regional Expansion Project for the last 3 months
and whilst some things have been progressing well some problems have arisen.
The new office was flooded due to recent torrential rain and the office carpet and meeting
room furniture have to be replaced. This will be very expensive.
You had identified the need to purchase insurance as a risk treatment for the new premises
but you now find out that it did not cover storm damage.
In your plan, you identified the risk of being unable to recruit full time staff with previous
experience working with architectural services and local government. Originally you had
thought that you could second people from Head Office to fill the vacancies while
undertaking recruitment; however, this has not worked well as no-one from Head Office is
able to stay longer than one week. This is having a detrimental effect on customer service
and on establishing local networks. You need a new approach to addressing this risk.
You have been advertising on Seek.com.au to recruit local staff
You are spending a lot of time interviewing but not finding anyone suitable
You cannot get anyone from Head Office to stay for more than 1 week which does not meet
customers’ needs.
In your plan, you had identified the risk that the local council may not abide by their customer
service timeframes for approvals. This has proven to be true.
You have been encouraging customers to use private certifiers as set out in the action plan;
however due to the current delays in council the 2 certifiers have long waiting lists and are
not able to work with Town and Country Services for another 5 weeks. You had not
identified this as a risk.
Your risk management process

You identified the risks and the treatment actions in consultation with your manager and
stakeholders. You now realise that maybe you should have got some specialist advice to
help with addressing each of the identified risks. As this is a new business, maybe you
should have asked a more experienced project manager for advice.
You realise that your action plan for implementing risk treatments needs to be reviewed. You
need to evaluate the plan and provide a report to your manager on your findings.
1. Write a report examining the ongoing implementation of the risk management action plan
(about 1.5 pages). Include the following:

Page 22 of 31
 a summary of the initial risks and the plan implemented to manage them
 a summary of all actions taken to date in attempting to manage identified risks
 a statement identifying continued and/or reduced risks, based on the information
provided in the scenario above
 a statement about the risks you did not identify and the planned actions for mitigating
them or avoiding them
 proposal for amendments to the risk management plan
 an analysis of the effectiveness of the risk management plan, by comparing the
implementation with the outcomes identified in the scenario above
 an evaluation of your risk management process.
2. Provide the documents of the work you undertook as evidence that you implemented the
plan for managing the identified risks.
Keep the documents you used during the process so that you can assemble a neat portfolio
of all documents produced as part of your risk management.

Page 23 of 31
Assessment 2: Case Study
Decision Matrix Marking Guide & Results Sheet

Student Name:
Assessor Name:
Date of Assessment:
Trainer/Assessor to complete. S = Satisfactory, N = Not Satisfactory
Did the student satisfactorily: S/N Comment

Complete the practical demonstration requirements (refer to Appendix 1).
Stage One: Establishing the risk context and identifying risks

1. Conduct research into the project area to:
 review the political, economic, social,
legal, technological and policy context
2. Identify the scope of risk management

required in the project?
Identify and describe the critical success

factors, goals or objectives for areas
included in scope?
3. Identify internal and external

stakeholders, their role in the process,
and any issues or concerns they have,
using the template provided?
4. Complete a PESTL analysis for risks

associated with the project?
Complete a SWOT analysis for risks

associated with the project?
5. Review and summarise the research

information found, as well as any
literature available that is relevant to this
scenario?

Page 24 of 31
6. Complete the analysis of risk for the

scenario by summarising the scenario
and associated risks, accompanied by
checklists, diagrams or flowcharts that
support the summary?
Stage Two: Analysing the risks
1. Develop a risk management plan using
the provided standard risk management
table?
1a. Assess the likelihood – for each risk,
assess the likelihood of the risk occurring.
1b. For each risk, assess the consequence
of the risk occurring?
1c. Use a risk calculation table to assist in
prioritising the risks?
1d. For each prioritised risk, outline at least
two suitable options for treating the risk?
2. Obtain feedback from colleagues and
stakeholders?
Submit risk assessment documents to
manager?
Stage Three: Identifying measures to treat the risks
1. Develop a risk management plan
2a. Develop an action plan for implementing

risk management plan?
2b. Ensure all documentation is in order and
appropriately filed and stored?
2c. Describe the process to evaluate risk
management on an ongoing basis?
3. Develop a strategy for implementing and
monitoring the action plan?
Stage Four: Implementing and monitoring the risk treatment plan

1. Write a report of approximately 1.5
pages, examining the ongoing
implementation of the risk management
action plan. Include the following:
 a summary of the initial risks and
the plan implemented to manage it?
 a summary of all actions taken to
date in attempting to manage
identified risks?

Page 25 of 31
 a statement identifying continued

and/or reduced risks, based on the
information provided?
 a statement about the risks not
identified and the planned actions
for mitigating them or avoiding
them?
 proposal for amendments to the risk
management plan?
 an analysis of the effectiveness of
the risk management plan, by
comparing the implementation with
the outcomes?
2. Provide documents of the work
undertaken and kept used during the
process into a neat portfolio of all
documents produced as part of the risk
management process to assist in future
strategies?
Student’s overall  Satisfactory  Not Satisfactory

performance is:
Is re-assessment necessary?  Yes  No
Trainer/Assessor Signature: Date:

Page 26 of 31
Assessment 2 - Practical Demonstration
Decision Matrix Marking Guide & Results Sheet
Student Name:
Assessor Name:
Location of
Observation:
Unit of Competency:
Date:
Trainer/Assessor to complete. Demonstration Result

S = Satisfactory, N = Not Satisfactory S/N Comment
Did the student:
1. Consult and communicate with group members

to identify and assess risks, decide appropriate
risk treatment actions & priorities?
2. Explain the risk management processes
3. Actively engage with group members to obtain

their participation in the risk management
process
4. Establish and use appropriate conventions and
protocols when communicating with
stakeholders about risk management
5. Use appropriate tools and techniques to identify
risks and used good communication skills to
elicit opinions and check understanding
6. Consulted and negotiated about risk
management processes and outcomes?
Feedback to student:

Page 27 of 31
Students overall  Satisfactory  Not Satisfactory

performance is:
necessary?
Trainer/Assessor Date:
Signature:

Page 28 of 31
ASSESSMENT SUMMARY & FEEDBACK

Student Name: Student ID:
Trainer/Assessor’s Date of
Name: Completion:

Student Results
Assessments
Satisfactory Not Satisfactory Not Completed
1. Written Questions
  
2. Practical Demonstration &

  
Observation
Result:  Competent  Not Competent

required:
Trainer/Assessor
Date:
Signature:

Page 29 of 31
Assessment Cover Sheet
Student Name:
Student ID:
Contact Number:
Email:
Trainer/Assessor Name:
Qualification:
☐ 1. Written Questions
Assessment:
☐ 2. Practical Demonstration and Observation
Due Date: Date Submitted:
If your assessment is being submitted after the due date, please attach a copy of the written
confirmation of extension received from the Trainer/Assessor.
Declaration: I have read and understood the following information at the
beginning of this assessment (please tick):
☐ General assessment information
☐ Submitting assessments
☐ Assessment results
☐ Plagiarism and referencing
I declare this assessment is my own work and where the work

is by others, I have fully referenced that material.
Name (please print) Signature Date

Page 30 of 31

BSBRSK501 Learner Assessment Tasks

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BSBRSK501 Manage risk

Learner Assessment Guide

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

ELEMENT PERFORMANCE CRITERIA

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

INFORMATION FOR STUDENTS

AQF Specifications for Assessments

ACSF Specifications and Foundation Skills

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Plagiarism and Referencing

Reasonable adjustment as it applies to participation in learning and assessment activities

Examples of reasonable adjustment:

Category Possible issue Possible Strategies

• Services • Flexible delivery & using group rather than

An individual’s access to the assessment process should not be adversely affected by

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Access and Equity

Recognition of Prior Learning

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

2. Case Study & Practical Demonstration

STUDENT ASSESSMENT INSTRUCTIONS

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

ASSESSMENT 1: WRITTEN QUESTIONS

10 What are the main components of a risk analysis? (5-15 words)

13 Explain five options for risk treatment. (40-80 words)

14 What is a cost–benefit analysis? (20-30 words)

15 What factors should be considered when conducting a cost–benefit analysis? (20-30

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Legislation Description and Examples

(b) Company Law

(c) Contract Law

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Assessment Task 1: Written Questions

Unit of Competency: BSBRSK501 Manage risk

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Student’s overall  Satisfactory  Not Satisfactory

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

ASSESSMENT 2: CASE STUDY & PRACTICAL

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Instructions to the student

Resources required for this assessment

Town and Country Services

Regional Expansion Project

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

You must demonstrate your ability to:

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Assessment Criteria – Part 1

The purpose of the meeting is to:

During the meeting, you are to:

Assessment Criteria – Part 2

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

Town and Country Services

Develop a risk management plan which includes:

Stage One: Establishing the risk context and identifying risks

You will use this information again in Part 4 – Analysis.

Describe goals/objectives of the business. Consider factors including:

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

The information may be presented in a table.

Present this information in the Table of Stakeholders template below.

Stakeholder Internal / Role in process Stake in process

BSBRSK501_Learner Assessment Guide V2.0 (11sept18)

(b) a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis.