BSBRSK501 Manage risk Unit Assessment Guide Unit details Unit code BSBRSK501 Unit name Manage Risk Unit purpose This unit is about risk management in the Events Industry. This involves applying...

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BSBRSK501 Manage risk Unit Assessment Guide Unit details Unit code BSBRSK501 Unit name Manage Risk Unit purpose This unit is about risk management in the Events Industry. This involves applying skills, knowledge, tools and techniques to all aspects and functions of an organisation to reduce risks to an acceptable level while maximising opportunities. Risks include everything from environmental/natural hazards to socio-cultural, political and/or security risks; from ticket sales, bungy jumping to product liability. In this unit we will identify and analyse these risks and work out what we can do to minimise the effect of these risks on our business. Elements and performance criteria For further information about this unit go to: https://training.gov.au/Training/Details/BSBRSK501     Unit outcome This unit is not graded. Your result will be recorded as Achieved Competence (AC) or Not Competent (NC) Pre-requisite/ Co-requisite units Nil Assessment plan To demonstrate competence in this unit, you must successfully complete each of the following assessment events: Event 1 - 7 Tasks There are seven (7) assessment tasks for this unit. You must complete all tasks. Assessment conditions Submission instructions Your assessment events must be submitted online via the Studespace website as per the instructions on the course introduction page. Student is required to provide the following materials and equipment To complete this assessment, you will need to provide: · A personal computer with internet access · Video camera such as those found on a smart phone TAFE is required to provide materials and equipment To complete this assessment, your facilitator will provide access to: · Nil Additional resources · Nil Facilitator support and supervision There is no facilitator supervision required for these assessment events. If you are unclear about any aspect of the assessment please contact your facilitator for guidance. Student collaboration Student collaboration is not permitted. Assessment attempts If you do not successfully complete an assessment event you may be given the opportunity to have a second attempt. This must be negotiated with your facilitator. Assessment feedback, review or appeals Teachers will provide feedback within 2 weeks after all assessment activities have been conducted. You may appeal an assessment decision within three weeks of receiving your results. To request a review of your results contact your teacher or head teacher. If they are unavailable, ask Student Administration to assist you. More information about assessment is available in “Every Student’s Guide to Assessment in TAFE NSW” online https://www.tafensw.edu.au/courses/assessment/assets/pdf/assessment_guide.pdf Plagiarism and referencing (Facilitator information only) If students engage in cheating such as copying, colluding with another person, using unauthorised notes, or allowing another person to copy your work, students will be liable for disciplinary action as per Student Discipline Policy TAFE NSW. Whatever the form of assessment, it is essential that the work students are assessed on is their own. Assessment events Scenario You are employed in an Events team that is in the process of organising an on-street half marathon from Milson Point, through the streets of Pyrmont and finishing at the Sydney Opera House. Your role is the development of a Risk Management Plan on behalf of your organisation. Read the Blackmore’s website to get an overview of the event: http://www.sydneyrunningfestival.com.au/ Refer to the Australian Standard AS/NZS 4360:2004 Risk Management and ISO 31000: 2009 Risk Management, and the ‘How to manage work health and safety risks’ Code of Practice: http://www.safeworkaustralia.gov.au/sites/SWA/about/Publications/Documents/633/How_to_Manage_WHS_Risks.pdf Assessment event 1 Task 1 a. Provide a description and overview of the event for which you are preparing the risk management plan. b. Identify and describe 10 possible risks over a range of different types specific to your scenario. c. What compliance and insurance requirements will need to be addressed in the planning of the event? Task 2 a. Develop suitable goals and objectives for the management of risks for your specific scenario. b. Who are the project’s internal and external stakeholders and what are their potential risks? Complete the following table. Internal stakeholders Potential risks Eg. Volunteers Volunteers may be inexperienced and the event may not provide adequate training and supervision. There is a risk the volunteers could be injured. Exposure to extreme weather (Sunburn, dehydration, lightning strike 1. 2. 3. External stakeholders Potential risks Eg Local residents Traffic congestion - Event attendees park over residents driveway Unruly behaviour of event attendees Local businesses increase prices 1. 2. 3. c. This is not the first time the event has been organised. Discuss ways in which you would go about conducting an assessment of current risk management practices at the organisation. How and what information would you research as a way to improve current risk management practices? Assessment event 2 In this part of the assessment you will develop a Risk Management Plan which will be made up of four elements: · The development of a Risk Register (Tasks 3 and 4) · The development of a Risk Treatment Schedule (Task 5) · The development of a Risk Management Action Plan (Task 6) · Communicating, reporting and monitoring risk (Task 7) Task 3 Based on the Scenario, insert your 10 identified risks into the Risk Register template under the heading “Identify Risk”. Assess also the likelihood, consequences and level of risk for each in the same Risk Register by completing the “Analyse Risk” sections of the table. The Risk Register template is located here in this link, or go to the Assignment tab where your assessment is located. Task 4 Using the same Risk Register template, list a range of strategies to the “Control Risk” section, including the hierarchy of control and the priority of each. Next, re-assess the risk and ensure the remaining elements of the table are completed. Task 5 Complete the Risk Treatment Schedule template on ONE of the major risks identified and documented in your Risk Register in Tasks 3 and 4. You must choose a risk with the highest priority. The Risk Treatment Schedule template is located here in this link, or go to the Assignment tab where your assessment is located. Task 6 Complete the Risk Management Action Plan on ONE of your major risks as identified in Tasks 3 and 4. The Risk Management Action Plan template is located here in this link, or go to the Assignment tab where your assessment is located. Task 7 Now that you have conducted the Risk Management Plan for the specific scenario, how would you go about communicating and gaining support for your Risk Management Plan in terms of management, policies procedures and ways you will continue to monitor potential hazards based on your scenario? End of assessment Unit Assessment Guide BSBRSK501 SIT EventsV1 Jan 2017 Unit Summary In this unit we have examined the steps required in the development of organisational risk management plans. The processes are equally valid at operational and strategic levels of the organisation. The key messages: Risks are an inevitable part of our personal and organisational lives. Managing risk involves looking at the upside – the opportunity – as well as the downside of risks. Effective risk management is a balanced approach which results in maximising opportunities and minimising threats. Communication and consultation are vitally important at all stages of the planning process. Stakeholder involvement in the early stages of risk management ensures their buy-in and confidence, and adds value to the process and the organisation. The types of risks faced by an organisation and the way they are managed depend largely on the context in which they occur. The internal and external environments and the objectives of the organisation are the backdrop to the risk management plan. We considered, in some detail, various ways to identify risks in your organisation, project or situation. We reviewed relevant documentation to support the risk management process, such as the risk management policy, and responses from which we can choose to minimise risks. Risk management in a particular situation requires the organisation to manage those risks that matter by following through on the agreed actions associated with the chosen response and monitoring the risks in relation to the wider organisational and external environments. To do this it is necessary to address the next steps in the risk management process: assess risks by identifying the range of potential consequences of the risk evaluate risks by comparing estimated levels of risk against predetermined criteria treat risks by developing and implementing specific cost-effective strategies and action plans for increasing potential benefits and reducing potential costs. To select a combination of treatments from the range of options identified, you’ll need to ensure that the selected options are compatible with the overall objectives of the organisation and with the risk evaluation criteria. As a rule of thumb: always actively manage those risks that have been rated as high keep an active watch on those risks that have been rated as medium by reviewing them regularly keep an occasional watch on the minor risks but do not spend too much time on these to the detriment of the medium and high risks. In some cases you can afford to ignore them, as the effort and perhaps cost of managing them may outweigh the impact should they mature. However, having said this, never lose sight of the fact that changes in both the internal and external environment can result in some minor risks quickly escalating into high risk Developing and implementing risk management plans is not the end of the risk management story. Monitoring and reviewing is an integral and essential step in the risk management process. We should monitor risks and review the effectiveness of the risk treatment plan, strategies and management system that have been set up to effectively manage risk. Effective monitoring includes the following steps: Establish where monitoring is needed Determine measures Compare what is with what should be Take action Risks can be monitored continuously, periodically or by third party audit to ensure that our risk priorities alter as needed with changing circumstances. Very few risks will remain static, therefore the risk management planning process needs to be regularly repeated so that new risks are captured in the process and effectively managed. A risk management plan at operational level should be reviewed at least annually. An effective way to ensure that this occurs is to combine risk planning or risk review with the annual business planning process. We need to document our risk review methods and processes so that both we and others can learn from our experiences. The risk management plan documents an organisational approach towards the identification, analysis, assessment and treatment of risk. Documentation of this plan is an important part of communicating the organisation’s commitment to effective risk management and contributes to good corporate governance. Topic 1 Establish risk context Contents Topic 1 Establish risk context1 What is risk?3 Defining risk3 Need for risk management3 Review organisational processes, procedures and requirements for undertaking risk management5 Risk management and the business process5 Determine scope for risk management process7 Identify internal and external stakeholders and their
Answered Same DayOct 04, 2020BSBRSK501Training.Gov.Au

Answer To: BSBRSK501 Manage risk Unit Assessment Guide Unit details Unit code BSBRSK501 Unit name Manage Risk...

Tp Academic answered on Oct 08 2020
140 Votes
Risk Register    
(an example is given in blue text)
                            
    Activity/Event:
    Compiled by:
    Event
Date:
    Activity/Event Description:
    Identify Risk
    Analyse Risk
    Control Risk
    
    Describe risk
    Likelihood
A-E
    Consequences
1-5
    Level of Risk
    Risk Control Strategies and
Hierarchy of Control
    Re-Assessment of Risk
    Person responsible
    Timetable
(before/during/after)
    1
    Road closure on the day of the event
    Medium risk
    M
    M
    On the day of the event, there were road closure issues that were faced by the local community while attending the marathon festival. There was also traffic congestion faced by the people.
    L – Low Risk
    Event Manager
    Before the event
    2
    Impact of road closure
    Medium risk
    M
    M
    The local community were not able to arrive to the spot on time.
    L – Low Risk
    Event manager
    Before the event
    3
    Cardiac risk
    High risk
    H
    H
    Long run of the marathon festival...
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