BSBRSK501 MANAGE RISK

Written Assessment Task

BSBRSK501 MANAGE RISK

Student Name:

ATTACHMENT A

PART THREE Tasks – Risk Management Action Plan

  1. The elements and components of a risk management action plan.
ELEMENTS COMPONENTS




  1. Explain the purpose of each of the elements of a risk management action plan. Identify five (5) strategies to implement this action plan
PURPOSE LIST 5 STRATEGIES TO IMPLEMENT




  1. Management of the risks (consider: your knowledge of risk identification, risk assessment, assess the likelihood or risks occurring, assess the impact or consequences of risks occur and then evaluate and prioritise risks for treatment/control.

Physical inspections

Identify the areas, activities, equipment, etc. that would require physical inspections to identify risks at. How often would each of these need to be inspected?

Physical inspection item Frequency








Identify the key risks in your organisation including the name, description, cause/s, and consequences.

Risk Name Description Cause/s Consequence
















Risk analysis

Complete this document using the risk matrix to determine the likelihood, consequence, and level of risk.  

Risk Likelihood Consequence Level of risk
















Risk evaluation

Undertake the risk evaluation of these risks that require further treatments and the priority for risk treatment.

Risk Level of risk Treatment Y/N Priority
















The risk criteria

Determine the risk criteria for use in a risk assessment to determine and select the most appropriate options for controls. Consider how you describe and measure the following:

Likelihood




Consequences




Level of risk




Risk Treatment

From the high priority risks identified in previous activities consider the treatment options.

Risk treatment considerations
Discuss the most appropriate options for treating this risk.


  1. Outline how you would determine and select the most appropriate options for training.
Determine and select appropriate options for training.





  1. Outline how you would consult, communicate and invite participation with relevant stakeholders to identify and assess risk, determine appropriate risk treatment actions and priorities and explain the risk management processes.

Communication Plans

Identify the methods of communication, consult and invite participation with relevant each stakeholder.

Stakeholder Method to communicate Objective Frequency




















Overcoming barriers to communication

Think of a project you are working on at your workplace. Identify any barriers that may impair communication and consultation (e.g. language, technical knowledge) and determine how these will be overcome.

Barriers How these will be overcome








  1. Risk Management Plan
Develop a management plan for ONE of your identified risks. This plan must include:
Identify the risk/ the priority of that risk Activities/actions to be taken Responsibilities Resources Implementation strategies Timeframes

7. How would you record and maintain this risk management documentation?

Identify the records and documents that could be used to assist in risk identification and what area of risk they might assist with.

Records and documents Area of risk








Identify documentation used by your organisation to record the success or failure of risk management plans.



How are these documentation maintained



  1. Outline how you would monitor and evaluate the action and risk management process.
Outline how you would monitor and evaluate rthe action and risk management process.



Leave a Reply

Your email address will not be published.