Course Title: Manage risk
Part B: Course Detail
Teaching Period: Term2 2013
Course Code: BUSM6458C
Course Title: Manage risk
School: 650T TAFE Business
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 |
Element: |
2. Identify risks |
Performance Criteria: |
2.1 Invite relevant parties to assist in the identification of risks |
Element: |
3. Analyse risks |
Performance Criteria: |
3.1 Assess likelihood of risks occurring |
Element: |
4. Select and implement treatments |
Performance Criteria: |
4.1 Determine and select most appropriate options for treating risks |
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
Students are required to attend all classes to participate in class and online activities. The class activities provide an opportunity to develop skills and apply theory to real life situations. The learning activities students will take a role in are:
Case studies
Project work
Collaborative classroom activities
Team activities
Peer interaction
Games and simulations
Reflection and discussion and debating
Reading the text book
Accessing materials online
Teaching Schedule
Week |
Topic |
Assessment |
Text chapter |
| 1 8 Jul |
Course introduction Define risk Activity: Rank the risk associated with a hazard |
pp 1-4 Chapter 1 |
|
| 2 15 Jul |
Risk and perception Video Living Dangerously AVK616.08 L785 |
||
| 3 22 Jul |
Step 2 Define the risk context DVD Risk Maker Risk Taker |
Chapter 1 | |
| 4 29 Jul |
Step 1 Communicate and confer | Chapter 1 | |
| 5 5 Aug |
Step 3 Identify risks | Chapter 2 | |
| 6 12 Aug |
Step 3 Identify risks | In-class Exercise #1 |
Chapter 2 |
| 7 19 Aug |
Step 4 Analyse risks | Chapter 3 | |
| 8 26 Aug |
Step 4 Analyse risks | In-class Exercise #2 |
Chapter 3 |
| 2-6 Sep |
Mid-semester break | ||
| 9 9 Sep |
Step 5 Evaluate risks | Chapter 3 | |
| 10 16 Sep |
Step 5 Evaluate risks | In-class Exercise #3 | Chapter 3 |
| 11 23 Sep |
Step 6 Address/treat risks | Chapter 4 | |
| 12 30 Sep |
Step 6 Address/treat risks |
In-class Exercise #4 Risk management plan (from Manage Projects, assessment Part C) |
Chapter 4 |
13 |
Step 7 Monitor and review the system | Chapter 4 | |
| 14 14 Oct |
Step 7 Monitor and review the system | Chapter 4 | |
| 15 21 Oct |
Review and evaluation |
|
|
| 16 28 Oct |
Resubmission |
Learning Resources
Prescribed Texts
Aspire Training & Consulting 2010, BSBRSK501A Manage risk, Aspire Training & Consulting, Melbourne |
References
Online Learning Materials |
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
Assessment 1: 4 Risk management exercises In class weeks 6, 8, 10, 12
Individual task
Elements: All
Students complete four exercises for assessment in class
Assessment 2 due Week 12: Develop a Risk management plan for team project in BUSM6234C Manage projects
Group-based - groups of 5
Elements: All
Aim: This assignment requires you to develop a Risk management plan to show you can comprehend and apply the Australian Standard for risk management.
Work in groups of 5 and develop a written Risk management plan for the project that your Project team will undertake in BUS6234C Manage Projects. The plan must follow the model presented and explained in AS/NS ISO 31000:2009 Risk Management - Principles and guidelines, Standards Australia. A template will be provided to guide your Risk management plan.
You are required to complete all tasks and demonstrate competency in all elements to be deemed competent in this unit.
Assessment Matrix
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.
| BSBRSK501A Manage risk | Assessment |
| Required knowledge | |
| • AS/NZS ISO 31000:2009 Risk management. • legislation, codes of practice and national standards, for example: • duty of care • company law • contract law • environmental law • freedom of information • industrial relations law • privacy and confidentiality • legislation relevant to organisation’s operations • legislation relevant to operation as a business entity • organisational policies and procedures, including: risk management strategy • policies and procedures for risk management • overall operations of organisation • reasonable adjustment in the workplace for people with a disability • types of available insurance and insurance providers. |
Assessments 1 and 2 |
| Required skills | |
| • communication and literacy skills to consult and negotiate, to prepare communications about risk management, and to encourage stakeholder involvement • organisational and management skills to plan and implement risk management processes • problem-solving and innovation skills to find practical ways to manage identified risks. |
Assessments 1 and 2 |
| Elements/Performance Criteria | |
| 1. Establish risk context (1.1 - 1.8) 2. Identify risks (2.1 - 2.3) 3. Analyse risks (3.1 - 3.3) 4. Select and implement treatments (4.1 - 4.6) |
Assessment 2 (2.1 - 4.6) |
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.
• 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.
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.
The grading is according to the following criteria:
1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK
Students will show that they able to apply risk management processes. They ask questions to help understanding and do not avoid conflict when a problem needs to be discussed. They volunteer to do jobs and follow through and consistently deliver quality work in a timely fashion.
2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING
Students will demonstrate understanding of risk management within the framework of AS/NZS ISO 31000:2009 and ability to identify, analyse and treat risks in the project that they work on. They offer views and opinions, research effectively to find information as well as read and discuss findings or new ideas.
3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING
Students will demonstrate organisational and management skills to plan and implement risk management processes. Problem-solving and innovation skills are also required to find practical ways to manage identified risks.
4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT
Students will demonstrate a sound understanding of the benefits of effective work organisation, while clearly articulating the different stages in planning and managing own time. They apply sound planning and organisational skills int he performance of tasks.
5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK
Students will use appropriate language to develop professional relationships, handle disagreement effectively, give and accept constructive feedback, encourage the participation of others, act cooperatively, state own needs and listen to those of others.
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