Course Title: Manage risk

Part B: Course Detail

Teaching Period: Term2 2017

Course Code: BUSM8775C

Course Title: Manage risk

School: 650T Vocational Business Education

Campus: Open Learning Australia

Program: C5358 - Diploma of Business

Course Contact: Sylvia Baroutis

Course Contact Phone: (03) 9925 5469

Course Contact Email:

Name and Contact Details of All Other Relevant Staff

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites


Course 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, program or project area. They may or may not have responsibility for directly supervising others.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBRSK501 Manage risk


1. Establish risk context

Performance Criteria:

1.1 Review organisational processes, procedures and requirements 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

Performance Criteria:

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

Performance Criteria:

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 implement treatments

Performance Criteria:

4.1 Determine and select most appropriate options for treating risks

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

Learning Outcomes

Details of Learning Activities

A range of learning activities are planned for this course including online self-paced and collaborative classroom based activities.

The self-paced activities will be delivered through various technology platforms and may include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated workplace environment.

We expect you to participate and contribute in all scheduled learning activities. 

Teaching Schedule

The course BSBSUS501 Develop workplace policies and procedures for sustainability is clustered (co-delivered and co-assessed) with course BSBRSK501 Manage risk.

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course.  This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

The Teaching Schedule for this course is as follows:



Week beginning




3 July

  • Introduction to the course including:
  • Course requirements
  • Course support documents
  • Course Blackboard access
  • Accuracy of enrolment
  • Assessment requirements/Cover Sheets
  • Reminder re: Plagiarism
  • Reminder re: Appeals
  • Extensions/Resubmissions
  • Feedback in this course
  • Reminder re submission requirements
  • Getting help
  • Risk and Sustainability
  • Defining the Risk and Sustainability for our course
  • What is risk?
  • What does sustainability mean?
  • The national strategy for sustainable development
  • UNESCO and sustainable development
  • ESD and sustainability
  • Mandatory Requirements for Risk
  • Risk Management Framework
  • Risk Insurance
  • Mandatory Requirements for Sustainability
  • Regulators
  • Risk Principles and Standards
  • Risk Management
  • How is it applied?
  • Why is it important?
  • Sustainability Principles and Standards
  • Signs and symbols
  • ISO 14021
  • Mobius loop
  • Assessments
  • Quiz
  • Risk and Sustainability Policy
  • Choosing a Business

(See Student Workbook for further information on three sessions for this week)




10 July

  • Risk and Sustainability Management
  • Introduction to Risk Management
  • Not Risks
  • Risks and Objectives
  • Uncertainty and sources
  • Objective and how to express it
  • Sustainability and the Key Issues
  • Climate Change
  • What is climate change?
  • International agreements and policies
  • How are businesses responding?
  • Risk-Based Decision Makingg
  • Risk Management
  • Risk Management Framework
  • Develop a Risk Management Framework
  • Risk governance
  • Process
  • Resources
  • Risk Profile Review
  • Risk Maturity and Assessment
  • AS/NZS ISO 31000

(See Student Workbook for further information on three sessions for this week)





17 July 

  • Risk and Sustainability Governance
  • Introduction to Risk Governanace
  • Corporate and Business Risk Planning
  • Relating Sustainability to Business
  • The Role of Corporations in Sustainability
  • Corporate Social Responsibility
  • The Role of the Individual
  • Risk Management Policy
  • Risk Management Strategy
  • Risk Culture
  • Accountability, awareness, and attitudes
  • Sustainable Work Practice
  • Sustainable Workplace
  • Risk of Unsustainable Practices
  • The "sea of stakeholders"
  • Greenwash and Boycotts
  • Risk Appetite

(See Student Workbook for further information on three sessions for this week)



 Assessment 1 due: Online Quiz (Session 2)


24 July

  •  Implement a Risk and Sustainability Process
  • Introduction to a Risk Management Process
  • Key Steps of a Risk Management Process
  • AS/NZS ISO 31000
  • Informal risk management process
  • Formal risk management process
  • Risk identification
  • Risk analysis
  • Risk evaluation
  • Risk controls
  • Common controls
  • Risk treatment
  • Monitor and review
  • Communicate and consult
  • Risk Categories
  • Common risk Categories
  • Risk of Unsustainable Practices
  • Risk Criteria
  • Risk Profile
  • Strategic Risks and Assessment


(See Student Workbook for further information on three sessions for this week)




31 July

  • Implement a Risk and Sustainability Process
  • The Sustainability Audit
  • Scope and Objectives
  • Collecting Information
  • Auditing compliance
  • Identify Resource Usage
  • Energy usage
  • Waste
  • Water usage
  • Units of measurement
  • The Supply Chain
  • Verifying Information
  • Documenting and Reporting
  • Introduction to Sustainable Work Practices

(See Student Workbook for further information on three sessions for this week)





7 August

  • Implement a Risk and Sustainability Process
  • Setting Targets for Improvement
  • Determining best practice
  • Green office
  • Energy efficiency
  • Waste efficiency
  • The Waste avoidance hierarchy
  • Transport
  • Purchasing strategies
  • Sustainability Action Plan
  • Measurable efficiency targets
  • Seeking input from stakeholders
  • Accessing external assistance and programs
  • Timeframes and responsibilities
  • Evaluating options
  • Implementation Plan
  • Communication Plan
  • Training Plan


(See Student Workbook for further information on three sessions for this week)




14 August

  • Implement a Risk and Sustainability Process
  • Communication Strategies
  • With management
  • Team members
  • External stakeholders
  • Elements of a Monitoring Program
  • Communication Outcomes
  • Risk Register
  • Inter-agency and State Significant Risk
  • Key Components to Managing Inter-Agency and State Significant Risks
  • Managing Inter-Agency Risk
  • Managing State Significant Risk
  • Risk and Sustainability Resources
  • Risk Insurance


(See Student Workbook for further information on three sessions for this week)




21 August 

 Facilitate Assessments

Assessments due


Assessment Task 2 - Risk and Sustainability Policy

Assessment Task 2: Presentation





Learning Resources

Prescribed Texts


Other Resources

You can download an electronic copy of the Student Workbook from the Blackboard Program Shell.

Overview of Assessment

In order to achieve competency in this unit, you must provide:

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.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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.


Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.  Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.


Assessment Tasks

You are required to complete two (2) tasks.  You must successfully complete both tasks to be deemed competent in this course.

NOTE:  Details about specific tasks and assessment criteria will be included in the Assessment Record and Cover Sheets for each task.

Task 1 - Online Quiz

This is an open-book assessment which will include questions on the knowledge components of both units of competency included in this cluster.

Task 2 (a) - Develop a Risk and Sustainability Policy for a designated business

You will develop all aspects of a Risk and Sustainability Policy for a designated business (the particular business to be negotiated with your teacher).  Please refer to the Assessment Record and Cover Sheet for further details.  This can be found in the Blackboard Program Shell for this program.

Task 2 (b) - Presentation on your Risk and Sustainability Policy

 Please refer to the Assessment Record and Cover Sheet for further details about the presentation.  This document can be found in the Blackboard Program Shell for this program.

 Your Assessments should demonstrate the required Foundation skills for the two units included in this cluster, including relevant language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.  Please refer to the relevant Assessment Record and Covers Sheets for further details.

Assessment Matrix

The assessment matrix that maps all the assessment is available on Blackboard.


Submission Requirements

You should:

Ensure that you submit assessments on or before the due date.

Always retain a copy of your assessment tasks (hard copy and soft copy)

When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship.  You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work.  On the cover sheet you declare that the work you are presenting for assessment is your own work.  An assignment cover sheet for submission of each assessment task is available on Blackboard.

Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.  For example, Julie Macpherson, 345678, Task 2, OHS2345C Ensure a safe workplace.

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.

More information:

Form to use:

When an extension of greater than seven days is needed, you must apply for special consideration.  Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.

More information:

Form to use:;ID=g43abm17hc9w

Re-submissions (VE Programs)

If you are found to be unsuccessful in a Course Assessment Task (or you do not submit/attend) you will be allowed one re-submission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the re-submission. 

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course.  Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Grading and re-submissions
Re-submissions do not contribute to your overall grade for the curse.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. Fore more information about the circumstances under which assessment arrangements might be granted please access the following website:

More information:;ID-7usdbkifjf31

Marking Guide (Competency)

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:

Final Grades table

CHD Competent with High Distinction

CDI Competent with Distinction

CC Competent with Credit

CAG Competency Achieved - Graded

NYC Not Yet Competent

DNS Did Not Submit for Assessment

Further information regarding the application of the grading criteria will be provided by your teacher.

Assessment Matrix

Other Information

There are three sessions for this unit each week.  The first session will be face-to-face, the second session is online by logging on to your Program Blackboard Shell and the third session will be face-to-face. 

Course Overview: Access Course Overview