Course Title: Manage business risk
Part B: Course Detail
Teaching Period: Term1 2026
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: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
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: C5406 - Diploma of Business
Course Contact: Jeremy Glover
Course Contact Phone: +61 3 9925 1485
Course Contact Email: jeremy.glover@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Course leader: Siying Lyu
Email:siying.lyu@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 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.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBOPS504 Manage business risk |
Element: |
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 |
Element: |
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 |
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 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 to 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 are a 4-hour face-to-face classroom session plus a one-hour online workshop for this unit each week which includes tutorials. There are additional activities to support learning and research.
Teaching Schedule
The course BSBOPS504 Manage business risk is clustered (co-delivered and co-assessed) with BSBSUS511 Develop workplace policy and procedures for sustainability course
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 |
Topics |
Assessment |
|
1 |
Introduction • Assessment Methods and Process • Case study overview • Sustainability • Resource identification (gas, energy, water, materials) |
Introduce Task 1 requirements |
|
2 |
Sustainability • Triple bottom line (3 P's) • CSR • Stakeholder analysis: types, needs, influence/power grid |
|
|
3 |
Sustainability • Climate Change: framework and agreements • Implement Sustainable Practices and Eco-friendly options • Legal framework (Acts, regulations, standards & codes of practice) |
|
|
4 |
Sustainability • Organizational policies and Procedures • Recourse management: Monitor & measure resource use • Implement Sustainable Practices and Eco-friendly options |
|
|
5 |
Sustainability • Barriers • Implementation plan, action plan, communication plan • SMART Targets |
|
|
6 |
Sustainability • Benchmarks and best practices • Monitoring plan |
|
|
7 |
Sustainability • Compliance matters • Reporting |
|
|
8 |
Assessment workshop |
Assessment Task 1 due |
|
9 |
Risk • Risk scope • 5 Major Categories of Business Risk |
|
|
10 |
Risk Management • Risk Based Decision Making • Risk Management framework • Risk Profile • Risk maturity |
|
|
11 |
Risk Management Process • Risk matrix • Hierarchy of controls |
|
|
12 |
Risk • ISO and Standards • Risk Management Principles • Risk management plan |
|
|
13 |
Assessment workshop |
Assessment Task 2 due |
|
14 |
Continuous Improvement Strategies • Develop contingency plans • CSF • Risk culture |
|
|
15 |
Revision of semester and assessment workshop |
Assessment Task 3 due |
|
16 |
Final submissions |
Learning Resources
Prescribed Texts
References
Other Resources
Course Overview: Access Course Overview
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
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
The course BSBOPS504 Manage business risk is clustered (co-delivered and co-assessed) with BSBSUS511 Develop workplace policy and procedures for sustainability course
You are required to successfully complete all assessment tasks to be deemed competent in this course.
Business Continuity Cluster: Student Assessment Task - Product/ Product-Based/Portfolio
Assessment Task 1: Sustainability policies and procedures.
Due: Week 8
Summary and Purpose of Assessment
This assessment will focus on your ability to develop workplace sustainability policies for your nominated business. The purpose is to provide evidence of your ability to plan, develop and implement an organizational policy which is complaint with all relevant legislation and governmental requirements for a business. This demonstrates such skills such critical analysis, problem-solving, data interpretation and communications.
Assessment Task 2: Risk assessment process
Due: Week 13
Summary and Purpose of Assessment
This assessment will focus on your ability to conduct a risk assessment for your nominated business. The purpose is to provide evidence of their ability to follow the risk management process that identifies, analyses and evaluates risks within the organization and treat the risks in accordance with the established context.
Assessment Task 3: Sustainability and risk management handbook.
Due: Week 16
Summary and Purpose of Assessment
For this task, you will need to work in groups of 4-5. You and your team members will work collaboratively to plan a risk and sustainability program which will include identifying and analyzing any associated risks involved in a business becoming more environmentally sustainable and then providing strategies to treat these risks. Whilst you work in groups you are still required to submit your own work.
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
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: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment
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