Course Title: Manage risk

Part B: Course Detail

Teaching Period: Term2 2015

Course Code: BUSM6458C

Course Title: Manage risk

School: 650T Vocational Business Education

Campus: City Campus

Program: C5225 - Diploma of Management

Course Contact : Sylvia Baroutis

Course Contact Phone: +61 3 9925 5469

Course Contact Email:sylvia.baroutis@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Course coordinator

Vivien Wong
Tel: +61 3 9925 5494
Email: v.wong@rmit.edu.au

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

None

Course Description

This course deals with the skills and knowledge required to manage risks in a range of contexts across the organisation or for a specific business unit or area. It looks at identification, analysis and treatment of risks and is aligned to Australian and New Zealand national standards for risk management.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBRSK501B Manage risk

Element:

1. Establish risk context

Performance Criteria:

1.1 Review organisational processes, procedures and requirements for undertaking risk management
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

Element:

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

Element:

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

Element:

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


At the completion of this course students will:
 

  • be able to undertake a risk management plan including a detailed stakeholder analysis, explanation of the risk context, critical success factors, identified and analysed risks, and treatments for prioritised risks
  • be able to set risk management plan monitoring arrangement in place
  • be able to evaluate the efficacy of risk management strategies in treating risks
  • understand legislation, codes of practice and national standards associated with risk


Details of Learning Activities

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

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

The collaborative classroom based activities will include group discussions, group problem solving activities and opportunities to practise your skills in simulated business activities, exercises and tasks.

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

 

This unit BSBRSK501B Manage risk is clustered with BSBPMG522A Undertake project work and BSBMGT516C Facilitate continuous improvement.  In order to provide a holistic learning experience, this unit will be co-delivered and co-assessed with the other two units.


 


Teaching Schedule

Week  

Topic                              
Resources                  

    Assessment

1
6 Jul
  • Program overview and requirements
  • MyRMIT/Blackboard
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfer
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities

Introduction to the course including:

  • Course requirements
  • Course support documents
  • Course Blackboard access
  • Accuracy of enrolment
  • Assessment requirements/Cover Sheets

Define project
Define risk
Lead continuous improvement systems and processes

What is a project?
What is a risk?
How to define continuous improvement systems and processes

Brainstorming ideas for the project/project teams

 Cole textbook (Chp 17, 20, 26)

 

2
13 Jul

Define project
Scoping the project
Project brief

Risk and perception

Lead continuous improvement systems and processes
 

Aspire textbook: pp iii-21
Video: Living Dangerously AVK616.08L785
Cole textbook (Chp 26 Section/heading 2)

 
3
20 Jul

Define project
Define stakeholders
Deliverables
Communication methods
Team code of conduct and team roles
Top down flowcharting method-task breakdown

Establish risk context
The seven-step model - Step 2 - Define the risk context

Lead continuous improvement systems and processes

  

Aspire textbook (pp: 22-36)
DVD Risk Maker Risk Taker
Cole textbook (Chp 26 Section/heading 2)

Assessment 1
Project Brief
 
 
4
27 Jul

Define project
Task breakdown
Project management tools: MS Project
Risk management including OHS

Establish risk context
The seven step model - Step 1 - Communicate and confer

Lead continuous improvement systems and processes

 

Aspire textbook: (pp 22-36)
Cole textbook (Chp 26 Section/heading 2)
 
5
3 Aug

Define project
MS Project
Develop budget
Group decision making: Normative model

Identify risks
The seven step model - Step 3 - Identify risks

Lead continuous improvement systems and processes

 

Aspire textbook (pp: 22-36)
Cole textbook (Chp 26 Section/heading 2)

 

6
10 Aug

ONLINE CLASS

Develop project plan
Team meeting
To do lists
Recordkeeping
Project resources and quality

Identify risks
The seven step model - Step 3 - Identify risks

Lead continuous improvement systems and processes

 

Aspire textbook (pp: 37-68)
 
7
17 Aug

Develop project plan
Team meeting
To do lists
Recordkeeping
Project resources and quality

Analyse risks
The seven-step model - Step 4 - Analyse risks

Monitor and adjust performance strategies

Aspire textbook: (pp 37-68)
Cole textbook (Chp 17 section/heading 4)
 
8
24 Aug

Develop project plan
Team meeting
To do lists
Recordkeeping
Project resources and quality

Analyse risks
The seven-step model - Step 4 - Analyse risks

Monitor and adjust performance strategies
 

Aspire textbook: (pp:37-68)
Cole textbook (Chp 17 section/heading 4)

 
31 Aug - 4 SeptMid-semester break   
9
7 Sep

Develop project plan
Team meeting
To do lists
Recordkeeping
Project resources and quality
 

Analyse risks
The seven step model - Step 5 - Evaluate risks 

Monitor and adjust performance strategies

 

Aspire textbook (pp: 37-68)

Assessment 2
Project Plan

10
14 Sep

Administer and monitor project
Teams to assess risks

Analyse risks
The seven step model - Step 5 - Evaluate risks 

Manage opportunities for further improvement
 

Aspire textbook (pp: 69-92)
Cole textbook (Chp 20 Section/heading 2 and 3)

 
11
21 Sep

Administer and monitor project
Ensure project deliverables on time, on budget

Select and implement treatments
The seven step model - Step 6 - Address/treat risks

Manage opportunities for further improvement

 

Aspire textbook: (pp:69-92)
Cole textbook (Chp 20 Section/heading 2 and 3)

 

12
28 Sep

ONLINE CLASS

Administer and monitor project/Finalise project/Review project
Ensure project deliverables on time, on budget

Select and implement treatments
The seven step model - Step 6 - Address/treat risks

Manage opportunities for further improvement
 

Aspire textbook:  (pp:69-92) & (pp:93-115)
Cole textbook (Chp 20 Section/heading 2 and 3)
 

13
5 Oct

Administer and monitor project/Finalise project/Review project
Implementing project

Establish risk context
The seven-step model - Step 7 - Monitor and review the system

Manage opportunities for further improvement

 

 

Assessment 3
Portfolio of Evidence

Assessment 4
Implementation of Project
 

14
12 Oct

 Finalise project/Review project
Team to complete financial recording
Contingency planning

Establish risk context
The seven-step model - Step 7 - Monitor and review the system


 

Aspire textbook (pp: 93-115)
 
15
19 Oct

 Finalise project/Review project
Complete recordkeeping and close file
Winding-up the project

 

Aspire textbook (pp:92-115)
 

Assessment 5
Team Review of Project

Assessment 6
Knowledge Test

16
26 Oct
Resubmission  


Learning Resources

Prescribed Texts

Cole, K 2013, Management theory & practice, 5e, Pearson Australia, New South Wales.

Aspire Publications, BSBPMG522A Undertake Project Work


References

Online Learning Materials
Online learning materials can be accessed by going into the RMIT web site and clicking on MyRmit. Useful Websites
http://www.rmit.edu.au/library This website is a useful resource for your assessment tasks
http://www.dlsweb.rmit.edu.au/lsu/ The Learning Lab is a learning and study skills site developed by the Learning Skills Unit offering online interactive tutorials, printable handouts and an email Learning Query service. The site is designed to assist students develop the capabilities for tertiary study.


Other Resources

Risk maker, risk taker: A manager’s guide to risk. Business Library AV 659.155 R595


Overview of Assessment

Assessment may incorporate a variety of methods including in-class exercises, problem-solving exercises, assignments, group or individual projects, presentations and written or practical tests, as well as homework activities.

Other activities may be workplace-based or simulate work practices.  These may include the production of technical requirements documents, direct observation of workplace practices and the presentation of a portfolio of evidence.  This portfolio may include documents, photographs, video and/or audio files.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure that the relevant competency standards are being met.  Students will be provided with feedback throughout the course to check their progress.


Assessment Tasks

BSBRSK501B Manage risk - Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

  • risk management plan which includes a detailed stakeholder analysis, explanation of the risk context, critical success factors, identified and analysed risks, and treatments for prioritised risks
  • details of monitoring arrangements for risk management plan and an evaluation of the risk management plan’s efficacy in treating risks
  • knowledge of relevant legislation, codes of practice and national standards.

BSBPMG522A Undertake project work - Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

  • Developing a project plan
  • Examples of monitoring arrangements and evaluation of the efficacy of the project plan in addressing project timelines and budget
  • Knowledge of relevant legislation

BSBMGT516C Facilitate continuous improvement - Critical aspects of assessment and evidence required to demonstrate competency in this unit

Evidence of the following is essential:

  • Development and use of a range of strategies and approaches that improve work outcomes or organisational functioning, using continuous improvement models
  • Monitoring performance and customer service

 This cluster of units involves undertaking and implementing a project and is divided into 6 parts with an additional required skills section to be demonstrated across parts 1-5. The project will be a work-based project and students will work with a workplace sponsor to ensure it is completed in line  with the project brief.

1. Project Brief Presentation (Due date: Week 3 - week beginning 20 July 2015)

2. Written Project Plan (Due date: Week 9 - week beginning 7 September 2015)

3. Portfolio of Evidence (Due date: -  Week 13 - week beginning 5 October 2015)

4. Project Implementation and Monitoring of Customer Service (Due date: Week 13 - week beginning 5 October 2015)

5. Project Team Review (Due date:   Week 15 - week beginning 19 October 2015)

6. Knowledge Test (Due date: Week 15:  week beginning 19 October 2015)

Required skills to be demonstrated across parts 1-5

To be successful in Undertake Project Work, Manage Risk and Facilitate Continuous Improvement, you must complete all six (6) parts of the assessment.  Once they have been completed and you have been deemed competent, a grade will be applied.  An indicative grade may be given for each part to enable you to gauge your progress.  Please refer to the Assessment Record and Cover Sheet for these units for details of the assessments.  (You will find the Assessment  Record and Cover Sheet in your Program Blackboard Shell for C5225ONCAM Diploma of Management.)

Aim/Purpose

The purpose of these assessments is to provide you with the skills and knowledge required to undertake a project from inception to completion, manage and minimise any associated risks and implement a plan for the continuous improvement of your project.  You will also learn how to work as a team and manage various work tasks simultaneously.

During the project you will be required to conduct extensive research, work in a team and continuously review and improve your planning and work processes.


Assessment Matrix

Other Information

Submission Requirements

Assessment tasks need to be submitted via myRmit.

You should:

• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• 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 work for assessment is available on myRmit/Blackboard Program Shell for C5225 Diploma of Management
• Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

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: http://www.rmit.edu.au/students/assessment/extension

Form to usePlease refer to the above link for the form

Where 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 informationhttp://www1.rmit.edu.au/students/assessment/extension

Form to use Please refer to the above link for the form

Where 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 informationhttp://www.rmit.edu.au/browse;ID=g43abm17hc9w

Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf

Resubmissions (VET Programs:

If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.  The highest grade you will receive if your resubmission is successful is "CAG".

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.

Adjustments to Assessment

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

More information: http://rmit.edu.au/browse;ID=7usdbki1fjf31

 
Marking Guide (competency):

Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.  Please refer to the Assessment Record and Cover Sheet for these units for details of the assessments and grading criteria. (You will find the Assessment Record and Cover Sheet in your Program Blackboard Shell for C5225ONCAM Diploma of Management.)

Final Grade 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

Course Overview: Access Course Overview