Assessment task information
To be assessed for this competency, you must:
- 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.
The following Assessment Tasks must be completed by you to enable you to demonstrate these skills. These must be conducted:
Using the simulated business (Bounce Fitness)
or
In your own workplace if you are able to access all the documents and conduct all of the activities.
Ensure that you gain the approval of your choice with your Assessor before commencing. (Message Trainer.)
Required documents
This assessment requires you to develop a risk management plan which will include:
- 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.
If you are using your own organisation, you will require copies of the following documents for the use of your Assessor. If you are using the simulated business Bounce Fitness, you will need these documents found on the Bounce Fitness website:
- Infrastructure tab / Current Projects folder / Bounce Fitness Corporate Marketing Plan
- Policies tab / Quality Folder / Quality Policy and New Product Development Policy
- Procedures tab / Contingency Planning / Business Continuity Planning
- Procedures tab / Financial Procedures / Purchasing Plan Procedures
- People tab / Hierarchal Structure
You may also need to conduct further research on the Bounce Fitness website and/or conduct external research.
This Task requires you to develop a risk management plan. To do this you may choose a risk posed in your organisation or use a potential risk posed by the simulated business, Bounce Fitness.
If you choose to use a risk from your organisation, you must supply copies of any organisational documents to which you refer as part of your evidence for your Assessor. The risk you select must be one that could present a real concern to your organisation. The final risk management plan must be in the format required by your organisation. Where appropriate, use and make reference to the AS/NZS ISO 31000:2009 Risk Management – Principles and Guidelines.
If you are using the simulated business, you will need to download and print the documents listed on the previous assessment information page and select a risk that could be posed by the Bounce Fitness Corporate Marketing Plan. The final risk management plan must be in an appropriate format. You will be able to find several examples of risk management plans online.
Regardless of which model you choose to use, to enable you to meet the standards required by this competency, ensure that you include the following in your plan:
2a) Review the processes, procedures, and requirements for undertaking risk management and discuss each for the organisation you have chosen. Identify and explain how the AS/NZS ISO 31000:2009 Risk Management – Principles and Guidelines could be used as part of the plan.
2b) Determine the scope for this risk management project.
2c) Identify the internal and external stakeholders, and the possible issues that they may have.
2d) Review the political, economic, social, legal, technological, and policy contexts in relation to managing risk for this risk.
2e) Review the strengths and weaknesses. Include copies as evidence.
2f) Create a list of critical success factors, goals, and objectives in the area included in the scope.
2g) Discuss who you will request for support and how you will do this. Include copies as evidence.
2h) With whom will you communicate and invite to participate in this risk management process? How will you achieve this? Include copies as evidence.
2i) How will you invite relevant parties to assist in the identification of risks? Include copies as evidence.
2j) What are the risks that may apply to scope? How did you research these? Include copies as evidence.
2k) What tools and techniques did you use to generate the list of risks that apply to the scope and with whom did you consult regarding this?
2l) How did you assess likelihood of risk occurring? Include copies as evidence.
2m) How did you assess impact or consequence if risks occur? Include copies as evidence.
2n) How did you evaluate and prioritise risks for treatment? Include copies as evidence.
2o) How did you determine and select the most appropriate options for treating the risks that you have chosen to work with? Identify which insurer and insurance policies you could engage and purchase, and explain how they could assist with any risk minimisation. Include an insurance proposal from your nominated insurer.
2p) Include a copy of your action plan for implementing the risk treatment.
The action plan must include:
- What actions are required?
- Who is taking responsibility?
- Time lines
- Monitoring processes.
2q) How will you communicate the risk management processes to relevant parties? Who are the relevant parties? Include copies as evidence.
2r) How did you ensure all documentation is in order and appropriately stored?
2s) How will you implement and monitor the action plan? Include copies as evidence.
2t) How will you evaluate the risk management process? Include copies as evidence.
2u) Discuss the legislation, Codes of Practice, and national standards that you will have to consider in developing and implementing this risk management plan.
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