Course Title: Manage business risk
Part A: Course Overview
Program: C5406 Diploma of Business
Course Title: Manage business risk
Portfolio: Vocational Education
Nominal Hours: 60Regardless 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.
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
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Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
Course Contact: Anahita (Annie) Barry
Course Contact Phone: +61 3 9925 5493
Course Contact Email: email@example.com
This unit describes skills and knowledge required to manage business risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting.
The unit applies to individuals who are working in positions of authority and who 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.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Pre-requisite Courses and Assumed Knowledge and Capabilities
National Competency Codes and Titles
National Element Code & Title:
BSBOPS504 Manage business risk
1. Establish risk context
2. Identify risks
3. Analyse risks
4. Select and implement treatments
This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to manage business risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting.
Overview of Assessment
In order to achieve competency in this unit, you must provide:
The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
- lead at least one risk management process for an organisation or work area.
In the course of the above, the candidate 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 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 candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
- legislative and regulatory context of the organisation in relation to risk management
- organisational policies, procedures and processes for risk management, including document storage
- types of business risks
- options for treating risks
- risk management process
- purpose and key elements of current risk management standards
- tools and techniques to identify risks to scope risk management processes.
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
- legislation, regulations, standards and codes relating to risk management
- workplace documentation and resources relating to 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.