Course Title: Manage business risk

Part B: Course Detail

Teaching Period: Term2 2022

Course Code: BUSM6519C

Course Title: Manage business risk

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT:

Please read the Student website for additional requirements of in-person attendance: 


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. 

See Canvas

School: 525T Business & Enterprise

Campus: City Campus

Program: C5407 - Diploma of Leadership and Management

Course Contact: Steven Hansen

Course Contact Phone: +61 3 9925 5705

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 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-requisites, Co-requisites and Assumed Knowledge


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBOPS504 Manage business risk


1. Establish risk context

Performance Criteria:

1.1 Evaluate organisational processes, procedures and requirements and determine scope for risk management process

1.2 Review strengths and weaknesses of existing arrangements

1.3 Document critical success factors, goals and objectives for area included in scope

1.4 Communicate risk management process to relevant stakeholders


2. Identify risks

Performance Criteria:

2.1 Invite stakeholders to assist in the identification of risks

2.2 Research risks that may apply to scope

2.3 Document 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 from options for treating risks

4.2 Develop action plan for implementing risk treatment

4.3 Communicate risk management processes to relevant parties

4.4 Implement action plan according to organisational policies and procedures

4.5 Monitor and evaluate risk management process

Learning Outcomes

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.

Details of Learning Activities

A range of learning activities are provided in this course. These include collaborative classroom based activities and online self-paced activities. 

Classroom: 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. 

Pre-Class: This is online, by logging on to your Canvas course, and includes required pre-class reading and activities. Other self-paced activities will be delivered through various technology platforms. These may include your contribution to discussion threads, reflective journals, quizzes and interactive sessions. 

Sessions: There is one face-to-face classroom session for this unit each week which includes tutorials and workshops.  There are additional activities to support learning and research.

Teaching Schedule

Week No


Assessment Task

Week 1


  • Introduction to Unit and outline Session Objectives
  • Assessment Methods and Process
  • Case study overview

Introduction to Facilitate continuous improvement (CI)

  • Introduction to continuous improvement
  • TQM
  • CI Inclusions
  • CI Models – 6 Sigma, Kaizen and Lean
  • What drives CI
  • How to identify CI opportunities
  • CI procedures, control, metrics and processes
  • CI procedures strategies

Introduce Task 1 requirements

Week 2

Introduction to Risk

  • Sources of risk
  • 5 Major Categories of business risk
  • PESTLE analysis
  • Critical success factors
  • Risk Management Framework
  • Risk Management Process
  • Risk- Legal Framework
  • Business Risk Obligations and Accountabilities
  • Risk Principles and Standards
  • Assessment Requirements / Case Study

 Introduce Task 2 requirements

Week 3

Facilitate continuous improvement & Risk

  • Stakeholder overview
  • Barriers
  • How to involve your team
  • Collaborative Communication
  • Decision making models
  • Knowledge Management Systems
  • CI Culture
  • Coaching, mentoring and training
  • Assessment Requirements / Case Study

Introduce Task 3 requirements

Week 4

Risk & Sustainability

  • Sustainable work practices
  • Terms and Concepts
  • Risk Based Decision Making
  • Risk Management framework
  • Risk Profile
  • Risk maturity
  • ISO and Standards
  • Risk Legal Framework
  • Assessment Requirements / Case Study

Week 5

Risk Management

  • Outline of the 10 steps involved in Risk Management Process
  • Assessment Requirements / Case Study


Week 6

Risk Considerations

  • Risk criteria and profile
  • Risk Register
  • Risk assessment
  • Scope and context of risk
  • Risk Profile
  • Risk appetite and tolerance
  • Strategic risks
  • Activities
  • Assessment Requirements / Case Study

Assessment Task 1 Due

Week 7


  • Risk Register
  • Responsibility Matrix
  • Risk Resources
  • Insurance

 Assessment Task 2 Due

Week 8

Review of course

  • Assessment submission

Assessment Task 3 Due

Week 9

Final resubmissions




Learning Resources

Prescribed Texts


Other Resources

Overview of Assessment

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

Performance Evidence

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.


Knowledge Evidence

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.

Assessment Conditions

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.

Assessment Tasks

Assessment 1 - Continuous Improvement Planning & Procedures

Summary and Purpose of Assessment

This is Assessment Task one of three (3) that you must complete for this unit. Each assessment task must be satisfactory to be
deemed competent in this unit.

The purpose of this assessment task is to assess your skills and knowledge in working collaboratively in a team to develop a
Continuous Improvement Plan.


Assessment 2 - risk assessment

Summary and Purpose of Assessment

This is Assessment Task two of three that you must complete for this unit. Each assessment task must be satisfactory to be
deemed competent in this unit.

This assessment will assess your ability to conduct a risk assessment for their nominated business. You must provide evidence
of skills and knowledge in following the risk management process that identifies, analyses and evaluates risks within the
organisation and treat the risks in accordance with the established context.

Assessment task 3 - Risk management

Summary and Purpose of Assessment

This is Assessment Task three of three that you must complete for this unit. Each assessment task must be satisfactory to be
deemed competent in this unit.

The purpose of this assessment task is to assess your skills and knowledge in planning a Risk and Sustainability Program. This
includes identifying and analysing any associated risks involved in a business becoming more environmentally sustainable and
then providing strategies to treat these risks.

You will work collaboratively in teams of 3-4, however, each student must submit their own work and will be individually
assessed. You need to take notes during the group work activities to evidence of your collaborative approach.


Assessment Matrix

The assessment matrix that maps all the assessments is available on Canvas

Other Information

Submission Requirements

You should:

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

Extension of Time.  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 is found in the section "How to apply."

Special Consideration. Where more 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:

Resubmission (VE Programs)

If you are found to be Not Yet Competent in a course assessment task (or you do not submit the assessment tasks/attend the assessment) 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 in Canvas. 

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 circumstances students may be eligible for an assessment adjustment. 

More information:

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. 

  • CA Competency Achieved
  • NYC Not Yet Competent
  • DNS Did Not Submit for assessment

Course Overview: Access Course Overview