Course Title: Manage risk
Part B: Course Detail
Teaching Period: Term1 2018
Course Code: BUSM7928C
Course Title: Manage risk
School: 650T Vocational Business Education
Campus: City Campus
Program: C5358 - Diploma of Business
Course Contact: Sylvia Baroutis
Course Contact Phone: (03) 9925 5469
Course Contact Email: sylvia.baroutis@rmit.edu.au
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
None
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 |
Element: |
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 |
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
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.
There are three sessions for this unit each week. The first session is online, by logging on to your Canvas course, the second session is face-to-face, and the third session will be face-to-face, including a workshop.
Teaching Schedule
The course BSBRSK501 Manage risk is clustered (co-delivered and co-assessed) with course BSBSUS501 Develop workplace policy and procedures for sustainability.
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 |
Week beginning |
Topics |
Assessment |
1 |
5 February |
Introduction to the course
Risk and Sustainability Risk defined. Sustainability defined. Mandatory requirements. Risk principles and standards. Policy manuals. AS/NZS ISO 31000. |
|
2 |
12 February |
Risk and Sustainability Management Risk management terms and concepts. Sustainability and key issues. Climate change. Risk management decisions, framework, profile, and maturity. |
|
3 |
19 February |
Risk and Sustainability Governance Risk governance and planning. Sustainability and business, Risk management policy, strategy, and culture. Risk appetite. |
|
4 |
26 February |
Risk and Sustainability Process I Risk management process, matrix, and controls. Risk controls and categories. Risk of unsustainable practices. Risk criteria, profile, and assessment. |
|
5 |
5 March |
Risk and Sustainability Process II Implement sustainable practices. |
|
6 |
12 March |
Risk and Sustainability Process III Implement sustainable practices. |
|
7 |
19 March |
Risk and Sustainability Process IV Implement sustainable practices. Monitor sustainable practices. Risk register , inter-agency, and State risks. Risk and sustainability resources. Risk insurance. Facilitate Assessment Assessments due next week. |
|
8 |
26 March |
Facilitate Assessment Assessments due. |
Assessment Task 1 Business Continuity: Knowledge Questions Due: 28 March 2018 Assessment Task 2 Business Continuity: Develop a sustainability policy and a risk management plan Due: 6 April 2018 |
Learning Resources
Prescribed Texts
References
Other Resources
An electronic copy of a Student Workbook is available for you to download from the Canvas course.
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
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 all two (2) tasks to be deemed competent in this course.
NOTE: Details about specific tasks and assessment criteria will be included in the Canvas course.
Business Continuity Cluster:
TASK 1 - Knowledge questions (Individual Assessment)
This essay-answer assessment task is to assess your knowledge of Codes of Practice, environmental legislation, environmental policy and an environmental management system and to assess your knowledge of international standards, risk legislation, risk management policy, and risk assessment.
TASK 2 Business Continuity: Develop a sustainability policy and a risk management plan (Individual Assessment)
This practical assessment will allow you to demonstrate your ability to develop a sustainability policy recommendation to senior management for one new idea. For this assessment you are asked to develop a sustainability policy recommendation to senior management for one new idea. For the Context: 1) What is the current situation? What is the desired situation? For the Idea: 2) What is your idea/opportunity/suggestion/plan? How will this close the gaps between the current and desired situation? For the Benefits: 3) Who will benefit from the plan? How will the plan benefit the various stakeholders? For the Support: 4) Why should the business support it? For the Plan: 5) What resources and personnel should be involved in developing, implementing, and monitoring the planned improvement? 6) What procedures will ensure that it was sponsored and supported? 7) Who would need to approve the project? 8) How will your plan contribute to environmental sustainability? For the Measures: 9) How would you measure performance expectations? How will you monitor the operation of the plan? How will you measure its success? How will you benchmark your plan? For the Risks: 10) How will you design and develop risk management? How will you design and develop contingency plans and health and safety? For Compliance: 11) How will you comply with environmental legislation and Codes of Practice? This practical assessment will allow you to demonstrate your ability to develop a risk management plan which includes the context, risk situation, proposed actions, stakeholders, responsible persons, resources, outcomes, and support. You are asked to develop a Risk Management Plan for one area of the business. This includes the following: The Context: 1) What is the context of the risk? What are the current risk management policies, procedures, and processes? What are their strengths and weaknesses? What is the impact of the six major factors on the risk management approach? What is the relevant legislation, regulations, and Codes of Practice? Who are the internal and external stakeholders groups and their issues? What is the risk management scope? The Risk Situation: 2) What is the situation? What are the risks? What controls currently exist? What is the desired situation? What are the risks associated with the desired situation? How were the risk identified and analysed? What are the tools and techniques to identify, measure, and assess risks? The Proposed Actions: 3) What is the plan for the risk management treatments? Does it reduce the impact/consequences of risks? Does it introduce new risks? What is the procedure for prioritising risk treatments? What were the tools used in the design process? The Stakeholders: 4) Who will benefit from the plan? How will they benefit? How will you communicate with each stakeholder group? The Responsible Persons: 5) How will the risk management plan be supported? Why should the business support it? Whose authorisation is need to implement the plan? The Resources: 6) What resources will be involved in developing, implementing, and monitoring the risk controls? What personnel will be involved in developing, implementing, and monitoring the risk controls? What are cost factors? The Plan: 7) What are the time frames and deadlines? How will you monitor the plan's operation? Who are responsible to monitor risk controls? Why are these suitable? The Expected Outcomes: 8) What are the critical success factors, goals, and objectives? How would you determine performance expectations? How will you measure success? What is the success matrix? The Support Information: 9) Statistics, data analysis evidence, graphs, charts, and tables; Background information (references).
The above two tasks require you to demonstrate the Foundation Skills described in the two units for this Cluster. The Foundation Skills describe language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance. For further information, please refer to the assessment page in Canvas for this course.
Assessment Matrix
Assessment Matrix
The assessment matrix that maps all the assessment is available on Canvas.
Other Information
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 the Assessment task document that includes a declaration and statement of authorship.
• 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.
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/stduents/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
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 information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
F (unresolved)orm to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
Resubmission (VE Programs)
If you are found to be Not Yet Competent in a Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
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
Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More information: http://rmit.edu.au/browse;ID=7us
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; this gives you the opportunity to have the level of your performance formally recognised against industry standards and employability skills.
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.
Course Overview: Access Course Overview