Assessment Cover Sheet
Assessment Cover Sheet Please fill out the necessary information, and sign and date where required Training & Assessment Guide for Unit of Competency BSBRSK501B Manage Risk Student Name: Starting Date: Finishing Date: Date Submitted: Due Date: After receiving your booklet, It should take you a maximum of 4 weeks to complete. I DECLARE THAT : no part of this book (i.e. Answers to Questions, Documentation etc) has been copied from another person’s work except where referenced accordingly no other person has written any part of this book/assessment, except where such collaboration has been authorized by Queensland Polytechnic I hold a copy of the documentation within this book, which can be produced should the original be lost or damaged, or is deemed necessary the signature is my own and/or the email that I have sent, which includes this book, is my own personal email address this book has not been submitted for any other study requirements ADDITIONALLY: I have completed a pre-training review and have contributed to development of my training plan / qualification I am aware that this assessment item/book can be adapted to meet my individual needs if required I am aware that I can apply for RPL or RCC based on my previous experience of expertise I am aware that this assessment approach is negotiable and by undertaking this ‘book’, I have agreed upon this format I am aware of my responsibilities with regards to assessment items BSBRSK501B Manage Risk Name & Signature of Student: ________________________________________ Or, if submitted electronically, the receipt of the email is sufficient for electronic submission. Page 1 of 36 Student Number (if known): Student Contact Details Phone: Email: Marking of Assessment: Name & Signature of Assessor Karen Lamkin Attempt 1 - Successful Unsuccessful Attempt 2 - Successful Unsuccessful Was a Re-submission granted? Yes No N/A ________________________________________ (Can be handwritten or electronic) By signing the Assessment Cover Sheet, the student agrees that if a resubmission is required, they will make the suggested improvements Resubmission Date Due: _______________ Was an extension granted? Yes No N/A Extension Due Date: __________________ Assessment Summary / Final Checklist Assessment 1, Oral/Written Questions Successful Unsuccessful Assessment 2, Documentation / Evidence Successful Unsuccessful Assessment 3, Practical Observation by Trainer & Third Party Successful Unsuccessful Final Result - Competent Not Yet Competent Name & Signature of Student:____________________________________ Name & Signature of Assessor ____________________________________ Feedback / Comments Please note, all assessment items are kept by Queensland Polytechnic. Constructive Feedback will be provided by either phone call / email. By signing the Assessment Cover Sheet, the student agrees that feedback will be provided in this manner. This guide and all related learning resources contain material copied in reliance upon the Educational Copying Agreement between the Copyright Agency Ltd and Queensland Polytechnic/ACIL Training under Part VB of the Copyright Act 1968. Distribution is limited to enrolled students of Queensland Polytechnic/ACIL Training and their partners. BSBRSK501B Manage Risk Page 2 of 36 USING THIS BOOK The Certificate IV in Business consists of 10 units of competency (subjects). The Diploma of Management consists of 8 units. One unit within the Certificate IV in Business may be from a Diploma level. One unit within the Diploma of Management may be from the Advanced Diploma or Certificate IV level. The Diploma of Management is broken down into a number of booklets – generally it is one book per unit, however at times, you may have a book that covers two units. You will be given one book at a time to complete. Within this book you will find all the materials you need to undertake your study i.e. hand-written question and answers, supervisor and trainer third party observation forms, readings, and documentation/evidence that you need to collect and/or further assessment instructions. If you haven’t already got a load of documents/evidence, you have created throughout your career at Thrifty Car Rentals, or at other positions/organisations, you may need to jump on a computer and word-process a document, create a spreadsheet using Excel or a PowerPoint Presentation. When you do this, the document you create, will need to be attached to your booklet in the appropriate place (ready for marking). The books and the time it should take you to complete each one, varies considerably, depending on the requirement of the unit, your skills levels and/or previous experience and qualifications. WELCOME TO QUEENSLAND POLYTECHNIC Queensland Polytechnic is committed to providing you with quality training and assessment and assisting you in furthering your career and reaching your goals. Our trainers and assessors are highly qualified, have extensive experience in their industry, and are here to support you in your training program. The qualification you are enrolled in is made up of units of competency (units) – such as this one-- which have been determined by the relevant industries and categorised into National Competency Standards for specific industries. The standards provide a framework for training and assessment and specify what competencies an employee at a particular level within a particular industry can be reasonably expected to achieve. A competency is a skill that you have obtained or could obtain. A competency is made up of a number of elements – normally you demonstrate competency in a skill by demonstrating competence in each element that makes up that skill. Competency-based assessment involves collecting evidence and making judgements about whether competency has been achieved. Outlined below, are a number of areas that are relevant to Competency Based Learning / Qualifications. You may have already read about this in the Student Handbook, however, it is always good to re-revisit this information to ensure you understand it, and its relevance to you, each time you undertake a Unit of Competency. If you have any questions, concerns or issues with any of the information, please feel free to contact your Trainer / Assessor. Recognised Prior Learning (RPL) The purpose of Recognised Prior Learning (RPL) is to help Trainees / Students to claim credit towards national competency standards that form part of the program they are undertaking. Queensland Polytechnic recognises that skills and knowledge are gained through work, educational, and life experience regardless of how, when or where it was acquired, provided that the learning is relevant to the competency outcomes in a unit. Credit for these skills and knowledge may be given by Queensland Polytechnic towards unit and/or programs it currently offers. Recognition will be given to any applicant who has successfully completed units of competency which give equivalence into training programs offered by Queensland Polytechnic, and/or which have been gained with another recognised training organisation, eg TAFE. Queensland Polytechnic’s RPL Policy and practices are equitable and culturally inclusive. The Rules of Evidence (Sufficiency, Validity, Authenticity and Currency) and the Principles of Assessment apply to RPL applications just as they do to any other assessment. All RPL assessments are of the similar rigour when compared to other assessment tools and processes. Queensland Polytechnic strives for fair, objective and transparent decisions in all aspects of its operations. It will provide reassessment on appeal to any RPL applicant, if requested. If you believe, you have a case for your previous experience to be recognised, please contact your Trainer / Assessor. Exemptions, National Recognition and Credit Transfer If a student/trainee (you) has completed units from another course/program, and the content is very similar to what has been studied, an application for an exemption in that unit can be achieved. An assessment of the equivalence to the required learning outcomes, competency outcomes or standards in a qualification will be undertaken by a qualified Trainer / Assessor before credit transfer can be obtained. An application can be made for any of the above when the student believes that they have already attained the necessary skills and competencies. If you believe, you have a case for your previous experience to be recognised, please contact your Trainer / Assessor. BSBRSK501B Manage Risk Page 3 of 36 Flexible Delivery Flexible delivery means providing training when it best suits the participant and employer. Flexible delivery focuses on learning rather than teaching and to provide the best possible learning experience for the student. This means that the student (you) has greater control over what, when and how you learn. Rules of Evidence AQTF Standards state that assessment must be based on what is sometimes termed the 'rules of evidence' - validity, reliability, fairness and flexibility. Refer to Table 2, below. This is also good teaching and assessment practice and ensures the best learning outcomes for students. Table 2, Rules of Evidence Validity This means that the evidence relates to the unit competency, addresses essential skills and knowledge, dimensions of competency and employability skills A valid assessment assesses what it claims to assess Reliability This means that the assessment tool and process will produce consistent outcomes when applied by a range of assessors in a range of contexts. Thus, ‘consistent’ outcomes are achieved in assessment regardless of who does the assessment, when it is conducted and in whatever context it was conducted Evidence collected is relevant to the activities and demonstrates that the performance criteria have been met Fairness Flexibility This means that the assessment will not disadvantage any person and will take into account the Assessment Tasks and the Assessment Tools are structured so that they do not disadvantage This means that the assessment tool and process allows for assessment in a range of assessment contexts Assessment practices and methods are equitable to all learners and their characteristics Participants will be able to have their previous experience or expertise recognized (RPL or RCC) Assessment procedures and the criteria for judging performance are made clear to all learners The assessment approach can be adapted to meet the needs of all participants and workplaces Opportunities will be provided to allow participants to challenge assessments and have the opportunity of reassessment The assessment strategy adequately covers both the on and off-the-job components of training Where practical and appropriate, assessment will be negotiated and agreed between the assessor and the student Types of Evidence Evidence is information upon which an Assessor makes a judgement of competency. Evidence you may be asked to may include: Direct demonstration/observation Indirect demonstration Products Workplace documents Questions - written and oral Assignments Third party reports Self-assessment Simulation Portfolios BSBRSK501B Manage Risk Performance of a task, or range of tasks, either in the workplace or in a simulated work environment, witnessed directly by an Assessor Use of photographs, videos, etc. showing performance of a task when the Assessor cannot be present Models, items, objects that have been made, fixed or repaired by the student Rosters, budgets, reports, standard operating procedures etc. developed by the student Asking the student about real or hypothetical situations to check understanding, task management and contingency management skills. May be short answer, discussion, multiple choice, etc. Projects, reports, essays, etc, relevant to the learning, literacy and numeracy (LLN) requirements of the unit of competency Documented and verified reports from supervisor, colleague, subject expert, Trainer or others A student’s personal statement on their performance (not generally sufficient in isolation) Simulated activity to accommodate difficult to demonstrate criteria e.g. emergencies, contingencies, difficult behaviors etc. Collections of evidence compiled by the student Page 4 of 36 Equity Groups and Reasonable Adjustment 'Reasonable adjustment, sometimes called reasonable accommodation or allowable adjustment is designed to ensure that all students are treated equally in the assessment process – this means that, wherever possible, "reasonable", adjustments are made to the assessment process to meet the individual needs of students.' Equity groups may include, but are not limited to: Students with English as a second language Students with literacy or numeracy difficulties Indigenous students and/or students in remote locations Women in non-traditional industries Students with sensory impairment and/or students with physical or intellectual disabilities Reasonable adjustment may mean: Making learning materials and methods accessible Adapting the physical environment and equipment Making adjustments to the procedures for conducting assessment Making adjustments to the evidence gathering techniques In the event that you have difficulties understanding the requirements for the assessment outlined in this unit, due to language or any of the other difficulties, Queensland Polytechnic will attempt to make reasonable adjustments to the assessment in order to afford you every opportunity to achieve competency. This may include oral questioning or demonstration of skills and knowledge in another format. If you believe, you have a case for your needs to be adapted, please contact your Trainer / Assessor. Withdrawal from a Unit of Competency / Qualification If you wish to withdraw from a unit of competency / qualification / traineeship this may be negotiated between the student, employer and Queensland Polytechnic at any time. Quality Improvements Queensland Polytechnic is constantly looking for ways to improve its training and assessment services, its materials and its processes. From time to time materials may change due to improvement. Learner Surveys / Questionnaires Queensland Polytechnic requires all course participants to complete an AQTF Learner survey, once a year. The survey takes approximately 5 minutes to complete, and will be distributed at the end of each year, or at the end of your studies. The survey focuses on whether you have engaged in activities that are likely to promote high-quality skill outcomes and includes your perceptions of the quality of your competency development and of the support that you have received during your training. Data collected from the surveys, will help support continuous improvement processes ensuring that: Queensland Polytechnic continue to provide quality training and assessment across all our operations Queensland Polytechnic adhere to principles of access and equity and continue to maximise outcomes for our clients Queensland Polytechnic’s Management systems continue to be responsive to the needs of our clients (you), staff and stakeholders UNIT DESCRIPTION This unit describes the performance outcomes, skills and knowledge required to identify risks and to apply established risk management processes to a subset of an organisation or project's operations that are within the person's own work responsibilities and area of operation This unit applies to individuals with a broad knowledge of risk analysis or project management who contribute well developed skills in creating solutions to unpredictable problems through analysis and evaluation of information from a variety of sources. They may have responsibility to provide guidance or to delegate aspects of these tasks to others. “RISK” can be broad ranging depending on the position and organization. It can relate to commercial relationships, economic circumstances, human behavior, individual tasks/activities, laws, management activities, natural events/scenarios, political events/circumstances, technology. Details of the competencies of this unit can be accessed at: http://www.training.gov.au BSBRSK501B Manage Risk Page 5 of 36 EMPLOYABILITY SKILLS Employability Skills are defined as "skills required not only to gain employment, but also to progress within an enterprise so as to achieve one's potential and contribute successfully to enterprise strategic directions". Hence, skills that applies across a variety of jobs and life contexts. These are also sometimes referred to as generic skills, capabilities, enabling skills, key competencies, key skills, core skills, life skills, essential skills, necessary skills, and transferable skills. Industry's preferred term is Employability Skills. An Employability Skills Framework was developed in 2002 by the Business Council of Australia and the Australian Chamber of Commerce and Industry, in consultation with other peak employer bodies. This framework, includes eight (8) ‘skill grouping’ Employability Skills, which are outlined in Table 1, below. Table 1, Employability Skills Communication Teamwork Problem Solving Initiative & Enterprise Planning & Organising Self-Management Learning Technology that contribute to productive and harmonious relations between employees and customers that contribute to productive working relationships and outcomes that contribute to productive outcomes that contribute to innovative outcomes That contribute to long term and short term strategic planning that contribute to employee satisfaction and growth that contribute to ongoing improvement and expansion in employee and company operations and outcomes; that contribute to effective execution of tasks More information about employability skills for these units can be accessed at: http://employabilityskills.training.com.au/. TRAINER / ASSESSOR Trainer / Assessor: Karen Lamkin, Karen@polytechnic.qld.edu.au Mobile: +61 439 817 361 MATERIALS & RESOURCES REQUIRED All readings, samples, information contained within this Training & Assessment Guide plus the “Introduction to Thrifty Training Manual” available on the intranet. Additional readings and examples/templates relating to this unit can be found on the intranet and/or requested by yourself (for the trainer to send to you via email). All students are advised of the need for regular access to the internet, intranet and CarsPlus, and a reliable calculator, printer and computer/laptop with Microsoft Word, Excel, PowerPoint, Outlook and Internet Explorer (or similar) software applications, for completion of the Certificate IV in Business and/or the Diploma of Management Access to Thrifty’s policies and procedures as well as relevant legislation is also required. If you have problems accessing this, please contact your Trainer or immediate supervisor, ASAP During the Assessment Process, if sample documentation is required, and it is either not provided in this book or you cannot locate it in the workplace, please contact your immediate supervisor and/or Trainer/Assessor, so that this can be provided to you Regular access to your Trainer/Assessor and supervisors at Thrifty Car Rentals BSBRSK501B Manage Risk Page 6 of 36 AUSTRALIAN CORE SKILLS FRAMEWORK (ACSF) Each activity/assessment in this booklet has been aligned to the ACSF’s “indicators” of competence so that they are at the levels appropriate to the delivery of language, literacy and numeracy skills underpinning the unit of competency. Units of Competency and minimum required levels of reading, writing, numeracy, oral communication and learning skills The following table provides the level of reading, writing, oral communication and numeracy that is required for the Units of the Certificate IV in Business and the Diploma of Management. UNIT CODE & TITLE: BSBRSK501B Manage Risk PERFORMANCE LEVEL 4 ACSF Reading Skills Level ACSF Writing Skills Level EXAMPLE OF ACTIVITIES AT THIS LEVEL - - WORKPLACE & EMPLOYMENT APPLICATION Read text and prepare a presentation. Read and comment on an article about a contemporary issue - Write a report on a topic of interest Write procedures on minute taking - - - - - ACSF Oral Communication Skills Level - - - - ACSF Numeracy Skills Level - Communicate with people from diverse backgrounds. Prepare and lead a discussion Understands vocabulary specific to a topic Follows oral texts which include vocabulary that creates shades of meaning Responds to cues such as change of pace and particular words which indicate a new or important point is about to be made Reflects on the effectiveness of the interaction as it occurs requesting clarification, and/or variation in volume and pace as necessary Interprets gestures and other non-verbal features Responds to topic shifts and points of clarification, and gives non-verbal feedback Calculate and compare annual income options. Calculate area of an office - - - - - - BSBRSK501B Manage Risk Analyses, compares and contrasts information gained from tables and charts, e.g. information on products and materials in order to determine the suitability for use in different locations Demonstrates understanding of texts describing interrelationships of events, e.g. reviews conflicting incident reports to identify key issues and possible follow up action Prepares an induction manual or standard operating procedures to be used in the workplace Documents roles, responsibilities and timeframes for a project plan Compiles a report (e.g. on sales figures) with input from a range of sources Writes clear and detailed instructions organised sequentially, for individual members of a group in order to complete a group activity Prepares data for a team/group using graphs to compare production or activity over a period of time, and includes recommendations for improvements Gathers information from a range of sources and rewrites using headings, instructions and layout that meet the needs of the audience and purpose of the text, e.g. job instructions or evacuation instructions Writes an instruction manual for a new piece of equipment or machinery Creates a range of formal texts incorporating specific workplace proformas and language and maintains records on a computer, e.g. memos, letters to clients, agendas, minutes, emails or reports Demonstrates understanding of a text describing complex interrelationships of events, e.g. writes a letter to a customer apologising for a lost item or prepares a report for a manager detailing a problem and steps taken to address it Explains technological concepts to a work group unfamiliar with the concepts involved, using visual aids such as photos and diagrams Leads a discussion with a focus group to explore solutions to a complex workplace problem Determines customer requirements through open-ended questioning, active listening, paraphrasing and summarising Expresses own values, ideas and attributes through language choice as appropriate to various contexts, e.g. job interview or group discussion Negotiates a win-win outcome with a work colleague, demonstrating conflict resolution skills Leads and/or facilitates group discussion which explores solutions to specific problems with new technology, e.g. implementation issues arising from changing work practices as a result of installation of a new computer system Uses aids (e.g. machine/equipment parts, photos, diagrams or scaled models) to explain technological concepts or scientific phenomena to an audience or work group Collects, represents, summarises and interprets a range of statistical data appropriately, e.g. in tables, spreadsheets, graphs, plots, measures of central tendency (mean, median, mode) and simple measures of spread Works in a group to investigate and report on the options and costs for the use of a fleet of vehicles for the running of a business, e.g. comparing the use of cars versus motor bikes for a courier service or comparing leasing cars versus outright purchase Works in a team to plan and develop an operating budget for a task or project, including the income from different sources (e.g. government funding, membership fees or sales) and expenses (e.g. staffing, materials, marketing, overheads, travel, training or IT support) Collects and accurately records data (e.g. measurements, quantities or digital outputs) on to an appropriate device (e.g. graph, chart, spreadsheet or handheld device), interprets results and outcomes, identifies anomalies or errors and can respond appropriates by acting to correct processes or inputs Page 7 of 36 - - - - ACSF Learning Skills Level Identify and document career goals - - Interprets and uses ratios and scales to read and discuss the design and dimensions on the plan of a property (e.g. building, workplace, office or shop) in order to allocate working space and furniture Represents statistical system information and data (e.g. customer satisfaction survey results, phone enquiry data or customer profiles), and analyses and interprets the data using graphical and numerical processes (e.g. graphs, charts or averages) to show different interpretations and influences Calculates, compares and interprets the probabilities of some given or described events in both numerical and qualitative terms, e.g. production numbers or faults, or accidents Organise own workplace professional development/training plan to achieve a negotiated outcome with consideration of personal priorities and demands on time Actively seeks feedback from others as a way of improving performance, e.g. approaches peers, manager or customers Makes changes to work routine to meet deadlines, drawing on insights gained from previous experiences Uses organisational file sharing and storage systems Actively encourages others to learn Initiates team problem solving sessions Participates in and contributes to change management in the workplace PERFORMANCE VARIABLES These variables may influence the individual’s performance at any time Support Context Works independently and initiates and uses support from a range of established resources Range of contexts, including some that are unfamiliar and/or unpredictable Text Complexity Task Complexity Complex texts Embedded information Includes specialised vocabulary Includes abstraction and symbolism Complex task organisation and analysis involving application of a number of steps Processes include extracting, extrapolating, inferencing, reflecting, abstracting EXAMPLE OF TEXT DOCUMENTS WITHIN 3 DOMAINS OF COMMUNICATION Text Type Personal & Community Workplace & Employment Education and Training Procedural Recipe Standard operating procedures Instructions for completing assessment task Persuasive Email to local council complaining about cat registration bylaws Informative Creative Club newsletter Report for CEO presenting argument and recommendations for a particular piece of new equipment Report of different approaches to risk management used in the industry Oral presentation on an issue in area of study/expertise Research paper on main developments in WH&S in the last 20 years Poem Design project Advertising copy or short story Technical Explanation of parts of a camera Instruction manual for a new piece of equipment Report on advantages of new computer system in library Regulatory Council planning permission form Industry standards list Course completion requirements Descriptive Recount of trip to botanic gardens Memo outlining new office furniture Essay comparing two paintings ASSESSMENT REQUIREMENTS Assessments must be handed in on time. Please note, Progression Reports will be provided to your supervisor on a three (3) monthly basis. Signed assessment cover sheets (the front page of this book), must accompany each assessment/book. Students must complete all assessment activities for this unit/book to a satisfactory level in order to be deemed competent in the unit. Students will be allowed one resubmission of each assessment providing they have made a reasonable attempt on the first submission. Queensland Polytechnic strives for fair, objective and transparent decisions in all aspects of its operations. It will provide reassessment on appeal to any applicant, if requested. BSBRSK501B Manage Risk Page 8 of 36 ASSESSMENT INSTRUCTIONS & DETAILS Part of your assessment for this unit is that you demonstrate you can meet designated timelines. This means submitting work within the timeline indicated in your study schedule, outlined below. You will also have the chance to develop and practice employability skills such as communication, teamwork, problem solving, initiative and enterprise, planning and organizing, self-management, learning, and technology. In order to achieve Competency for this unit, this book, and all of its all assessment tasks must be completed to a satisfactory level. An acceptable or satisfactory performance level for assessments will be based on what would be expected of a person completing a similar task in the workplace. You may request feedback and advice from your Trainer/Assessor at any time prior to submitting the completed book. The assessment tasks for this unit will require you to complete the following: Assessment 1, Oral/Written Questions: answer a number of questions and provide examples, comments or explanations to particular incidents/activities that occur within Thrifty Car Rentals. Provide as much detail as you can since the more knowledge you show, the less time it will take you to be deemed competent in the unit. Assessment 2, Document Evidence, such as the organisation’s polices/procedures for Risk management and an operational procedure for a task. Additionally, you can provide the risk management plan used in the example (question 1) if this in a written, formalised format. Assessment 3, Practical Observation by Trainer & Third Party: have your immediate supervisor sign off on your competence in the relevant areas, after observing you in a workplace situation where you have managed risks. Risks applicable within own work responsibilities and area of operation, may include projects being undertaken individually or by a team, or operations within a section of the organization. ASSESSMENT MARKING It is acceptable for different students to undertake the same Assessment Task in different ways and to format their finished work differently. Answers to questions throughout this book, may be completed in a variety of ways, appropriate to the specific question, including: writing continuous paragraphs of text using headings and sub-headings to organise text using bullet points rather than, (or as well as, continuous text providing examples and illustrations from experience – particularly relevant work experience submitting workplace documents that are examples of work completed in the workplace Your Trainer / Assessor will make a decision about whether an Assessment Task has been satisfactorily completed based on the following considerations: all parts of the Assessment Task outlined in book, have been completed to a standard that satisfactorily meets the competency requirements set out for the unit, on the training.gov website ie. all Elements of the Performance Criteria, Required Skills, Required Knowledge, Critical Aspects have been meet your work is of a standard to be acceptable in the workplace, as deemed by your immediate supervisor your work is has acceptable formatting, expression, language, spelling and grammar the Assessment Task is your own work, except where appropriately acknowledged by the use of referencing . Please note, while it is not essential for VET students to include the ideas and work of others in assessment tasks – particularly practical tasks - it is good practice to do so when appropriate to the task. It is highly likely to be necessary to refer to texts and learning materials when answering questions which focus on knowledge and how to apply it to specific situations. Learning to reference appropriately also helps student develop skills that will be essential should they decide to go on to higher education/university, later. If you are deemed ‘not yet competent’ for an assessment item, a sample/indicative answer will be shown to you, to help you determine competency in the assessment item. BSBRSK501B Manage Risk Page 9 of 36 STUDY/WORK SCHEDULE & RESOURCE LIST You will participate in a face-to-face introductory workshop and/or online conversation in Week 1, which will get you oriented and started on the Assessment items for this unit. At this time, your Trainer/Assessor will go through this book and the Assessment requirements/tasks. Should you not fully understand a question and/or assessment, please ask for assistance. The remaining weeks, you will complete your study by working through the activities within this booklet and attaching the required evidence, as instructed. NOTE: There is no need to word process your answers to the Questions within this book. In the last week of your program, you will need to submit this booklet to your Trainer, in hard copy format. The following schedule will tell you what you need to complete each week and what resources you need to review. If you follow this schedule to complete and hand in your work you will have no trouble being ready for the final submission of this booklet. It should only take you 4 weeks (50 hours) to complete this process. Please note however, the time you will need to spend on your learning for this unit will also vary depending on your reading skills, computer skills, modem speed and writing skills. Please don’t hesitate to contact your Trainer / Assessor immediately if you have any difficulties. Problems have a way of growing bigger over time – so your Trainer who is assessing your work would much rather hear from you early so any issues can be solved and you can move ahead with your learning. Your Trainer / Assessor will reply within one day. BSBRSK501B Manage Risk Page 10 of 36 ASSESSMENT 1: BSBRSK501B MANAGE RISKS ACTIVITY & QUESTIONS Topic Covered Resources and Assessments Key Definitions A risk is defined by the Australia/New Zealand Standard for Risk Management (AS/NZS 4360:2004) as: What is a risk? “…the possibility of something happening that impacts on your objectives. It is the chance to either make a gain or a loss. It is measured in terms of likelihood and consequence.” The effective management of risk enables you to maximise opportunities and achieve your outputs. Examples of Risks include: commercial and legal relationships economic circumstances and scenarios human behaviour individual activities management activities and controls natural events political circumstances technology - technological issues The Risk Management Process Part A: Establish Goals & Context Below is a model (flowchart), outlining the Risk Management Process: The risk assessment is undertaken within the context of your department’s goals. The identification / validation of your goals is therefore a critical first step in the risk management process. Effective risk management requires a thorough understanding of the “context” (environment) in which your department operates with your workplace. The analysis of this operating environment enables you to define the parameters within which the risks to your outputs need to be managed. The “context” sets the scope for the risk management process. The context includes strategic, organisational and risk management considerations. Strategic context defines the relationship between the organisations and its environment. Factors that influence the relationship include financial, operational, competitive, political (public perceptions / image), social, client, cultural and legal. The definition of the relationships is usually communicated through frameworks such as the BSBRSK501B Manage Risk Page 11 of 36 SWOT (ie. the organisation’s internal strengths and weaknesses, the organisation’s external opportunities and threats) and PEST (ie. Political, Economic, Societal, and Technological issues). The organisational “context” provides an understanding of the organisation, its capability and goals, objectives and strategies. PC1.4 Critical Aspect 1 Question: Within your workplace, identify the context (the environment) for risk management. The context could range from – any related projects any related organisations any resources, including physical assets, which are vital to operations any key services of the organisation, that are vital to operations your own role and responsibilities in relation to the overall project BSBRSK501B Manage Risk the policitial, economical, social, legal, technoloigcal issues Page 12 of 36 PC2.2 What ‘tools’ do you use to identify the risks within your workplace? Give an example to demonstrate the use of this tool Eg. You might use documentation to assist in the process of identifying risk, and assessing the impact and likelihood of the risk occuring. Eg. You might use instruments developed for the organisation and contextualised for sections of the workplace's operations, such as checklists and testing procedures Eg. Use might use tools to prioritise risks, including where relevant, numerical scoring systems for risks PC4.4 How do you/your company document / report / record the risks that are identified within the workplace, taking into account the relevant polcies or procedures and government requirements? Where do you store this documentation to ensure its security and fast handling? Give an example. Part B: Identify risks It is important to be rigorous in the identification of risks, their sources and impact on the organisation as the risk treatment strategies will be directed to sources (preventive) and impacts (reactive). Question: Think of a specific example dealing with risks & risk management within your workplace. BSBRSK501B Manage Risk Page 13 of 36 PC2.1 Identify the risks most likely to impact upon your workplace’s outputs. Who have you asked to help you in your department/other departments to help you identify these risks? PC2.2 (partial) Identify the sources of these risks ie. Where do the risks come from? PC2.2 (partial) What are the impact of these risks? Part D: Evaluate risks BSBRSK501B Manage Risk The next stage of the risk assessment process determines whether the risks are acceptable or unacceptable. This decision is made by the person with the appropriate authority. A risk that is determined as acceptable should be monitored and periodically reviewed to ensure it remains acceptable. A risk deemed unacceptable should be treated. In all cases the reasons for the assessment should be documented to provide a record of the thinking that led to the decisions. Such documentation will provide a useful context for future risk assessment. Page 14 of 36 Critical Aspect 1.1 (Analyse) PC1.8 BSBRSK501B Manage Risk Activity: Within your workplace, identify two risks. Analyse (compare & contrast) these two risks (you may wish to consult with with relevant stakeholders to help you with this analysis eg. Contractors, employees, financial managers, insurance agents, managers, service providers, public, trade unions ect). Page 15 of 36 PC 3.1, 3.2, 3.3 Now, catergorise the two risks (outlined above) to help determine the level of risk your workplace is facing. What risk should have the most priority? Why? HINT: Such catergories can be: Such levels of risk can be: BSBRSK501B Manage Risk likelihood of risks: - almost certain - likely - possible - unlikely - rare Consequences/impact of risks: - insignificant - minor - moderate - major - catastrophic - current control measures low - treated with routine procedures moderate - with specific responsibility allocated for the risk, and monitoring and response procedures implemented high - requiring action, as it has potential to be damaging to the organisation or project extreme - requiring immediate action, as it has potential to be devastating to the organisation or project) Page 16 of 36 Part E: Determine the treatments for the risks Treatment strategies will be directed towards: I. Avoiding the risk by discontinuing the activity that generates it, (rarely an option when providing services to the public), II. Reducing the likelihood of the occurrence, III. Reducing the consequences of the occurrence, IV. Transferring the risk, and V. Retaining the risk. Potential treatment options are developed according to the selected treatment strategy. The selection of the preferred treatment options takes into account factors such as the costs and effectiveness. The determination of the preferred treatments also includes the documentation of implementation details (eg responsibilities, a timetable for implementation and monitoring requirements). The intention of these risk treatments is to reduce the risk level of unacceptable risks to an acceptable level (ie: the target risk level). PC4.1 Activity: Thinking of the two examples of risks you have outlined above, explain what are the appropriate control measures/ options for treatement for these risks? Control measures could include using the ‘hierarchy of control model’, which includes such things as: reduction in likelihood of risks reduction of consequences of risks retention of risks risk aversion transfer of responsibility of risks) Risk 1: …………………………………………………………………………………………… Appropriate control menasure: BSBRSK501B Manage Risk Page 17 of 36 What is the strength and weakness of this type of control measure/treatment plan? Risk 2:…………………………………………………………………………………………….. Appropriate control meaure: What is the strength and weakness of this type of control measure/treatment plan? BSBRSK501B Manage Risk Page 18 of 36 PC 4.3 BSBRSK501B Manage Risk Provide two examples of how you have referred risks that are relevant to the whole organisation or which have an impact beyond your own work responsibilities and area of operation, to others? Page 19 of 36 PC 4.2 Outline the steps you take to choose and implement control measures for your own area of operation and/or responsibilities? Give an example of a risk and a control measure ‘choice’, if this is easier to explain. PC 4.5 (partial) Explain how your prepare and implement a treatment plan. Attach an example of a treatment plan you have prepared/implemented. BSBRSK501B Manage Risk Page 20 of 36 Part F: Monitor and report on the effectiveness of risk treatments PC 4.5 (partial) The relevant manager is required to monitor the effectiveness of risk treatments and has the responsibility to identify new risks as they arise and treat them accordingly. Managers are also required to report on the progress of risk treatments at regular intervals. The person who has the responsibility for a risk treatment is expected to provide feedback on the progress of the ‘project / initiative’ as detailed in the ‘monitoring’ field of the treatment. Activity: Provide an example of how you have regularly reviewed implemented treatment/s against measures of success Measures of success could include: costs reductions in impact reductions in likelihood reductions in occurrence PC4.6 BSBRSK501B Manage Risk Explain how you have used your review of the treatement plan, to improve the future treatement of risks? Page 21 of 36 PC1.1 Provide an example of where you have assisted in auditing risk in your own area of operation. Eg. when have you reviewed policies, processes or the day to day operation of the Thrifty, to determine the risks PC1.5 How did you review the strenghts and weaknesses of existing arrangements in this audit process? BSBRSK501B Manage Risk Page 22 of 36 Required Knowledge Critical Aspect 3 It is important that you familiarise yourself with the Australian and international standards for risk management relating to your work environment. In particular relevant legislation from all levels of government that may affect aspects of business operations, such as: anti-discrimination legislation ethical principles codes of practice privacy laws environmental issues work health and safety organisational policies and procedures relating to risk management processes and strategies auditing requirements relating to risk management Activity: What are Australian standards - AS/NZS ISO 31000:2009 Risk Management - Principles and Guidelines? How do they relate to your workplace? Explain BSBRSK501B Manage Risk Page 23 of 36 Explain the concepts of ‘freedom of information’, privacy and confidentiality and how it relates to your workplace Explain the concept of ‘duty of care’ and how it relates to your workplace Explain the concept of ‘environmental laws’ and how it relates to your workplace Explain how industrial relation / employment relations / workplace relations laws impact your workplace Explain how the concept of ‘contractual law’ (ie. contracts / rights and obligations of a contract’ impact upon your workplace How does your workplace make a ‘reasonable adjustment’ for people with a disability? Give an example if this is easier. BSBRSK501B Manage Risk Page 24 of 36 ASSESSEMENT 1: BSBRSK501B MANAGE RISKS ACTIVITY & QUESTIONS Topic Covered Critical Evidence 1 (partial) Resources and Assessments Provide me with an example of a risk management plan that you use in your workplace. You can explain this plan below, or you can attach it to this document if this is easier. All the questions (following) will be about this particular risk. Remember “RISK” can relate to commercial relationships, economic circumstances, human behavior, individual tasks/activities, laws, management activities, natural events/scenarios, political events/circumstances, technology BSBRSK501B Manage Risk Page 25 of 36 PC1.3 CA 1 (partial) Who are the stakeholders within this plan? Briefly explain their involvement (issues/concerns) in the risk. Who else can you call upon to obtain support for the plan (if needed)? PC1.7 PC 1.2 CA 1 (partial) BSBRSK501B Manage Risk What is the scope of the plan? Eg. What department is involved? Is it involve all of Thrifty or only a few locations? Does it involve OHS, Finance, HRM as well as operations? What it the environment that the risk takes place in? ie. give me a brief overview of the risk/the workplace/the situation Page 26 of 36 PC1.6 CA 1 (partial) BSBRSK501B Manage Risk What are the critical success factors/goals for this plan? What are the risks? How are/were the risks identified? Page 27 of 36 CA 1 (partial) How are/were the risks analysed/evaluated? Think about the consideration of: the likelihood of the risk occurring the impact of the risk the prioritizement/order for treatment Eg. CA 1 (partial) BSBRSK501B Manage Risk the likelihood of risks occurring = the probability of a given risk occurring such as very likely, likely, possible, unlikely and rare the impact or consequence if risks occur = the significance of the outcome if the risk does occur such as disastrous, severe, moderate impact or minimal impact How are the risks prioritized within your workplace? Page 28 of 36 CA 2 (partial) CA 2 (partial) BSBRSK501B Manage Risk How are the risks monitored on a daily basis within your workplace? Explain how you conduct an evaluation of the risk management plan in terms of efficiency in treating the risks? Page 29 of 36 1. Attach to this workbook your organization’s polices/procedures for Risk management An operational procedures for a task 2. Attach the risk management plan you used in the example if you have this in a written, formalised format 3. Additional Evidence/Documentation Required: Please attach any evidence/documents that show that you have identified, analysed and evaluated risks. Please attach any evidence that shows the role you play in relation to the wider organisation/the project you were managing the risks for. Please note, this evidence is critical to you gaining competency within this unit BSBRSK501B Manage Risk Page 30 of 36 ASSESSMENT 3: BSBRSK501B Manage Risks - Trainer/Assessor & Third Party Workplace Observation/Discussion Form Information for Trainee & Senior Staff Member - Workplace Observations are a critical part of each student/trainee’ training. They provide evidence that verifies competency within the workplace. As the trainee’s immediate supervisor, you can contribute in a meaningful manner to the training process through the accurate and timely recording of observations. It is important that evidence gathering through observation takes places over a number of shifts, and under a range of circumstances and at various times. Observation may be undertaken in either a formal or informal setting. A ‘formal’ setting occurs when you and student/trainee arrange a fixed time when observation will take place. ‘Informal’ settings provide opportunities for you to observe the student/trainee under a variety of conditions ranging from the ‘normal day’ to situations of ‘stress’. It is the student/trainees’ right to be provided with timely feedback on performance. Based on the observation, you may ask the student/trainee additional questions or prompt them for clarification if they are close to the correct response/behavior/action, and you believe they have the knowledge/skills to show competency in the unit. The trainee should be given every reasonable chance to show you they have the skills and knowledge through their responses. Student/Trainee’s Name: Student/Trainees Job Position: Dates/Shifts/Times: Observer (i.e. Supervisor or Senior Co-worker): Assessor (ie. QP’s marker): Performance Element Establish risk context Performance Criteria S or US Comments Can the trainee review Thrifty’s processes, procedures and requirements for undertaking risk management? Risks within Jonday/Thrifty may include those relating to: commercial relationships with the type of fleet and the Brisbane/Gold Coast city council economic circumstances relating to the value of the dollar or the decrease in the value of the fleet for resale or increase in price of new vehicles human behavior eg. Staff tend to not turn up for their rostered shifts on a Monday or a Friday, or a public holiday individual activities eg. The risk of driving a fleet vehicle & having an accident legislation requirements eg. The risk of OHS laws not being followed by branches natural events eg. Flooding, fire, sun exposure to car detailers political circumstances eg. Change of govt and how this impacts upon Thrifty/the car rental industry or the amount of wages that has to be paid on a Sunday technology eg. The risk of changing or introducing a new reservation system, Thrifty wide. S or US Can the trainee determine the “scope” for risk management processes? Scope may apply to: any given project BSBRSK501B Manage Risk S or US Page 31 of 36 specific department or geographical area external environment internal environment whole organisation. Can the trainee identify internal and external stakeholders and their issues? S or US Can the trainee review political, economic, social, legal, technological and policy environment/context? S or US Can the trainee review strengths and weaknesses of existing arrangements? S or US Can the trainee document critical success factors, goals or objectives for area included in scope? S or US Can the trainee obtain support for risk management activities? S or US Can the trainee communicate with relevant parties about the risk management process and invite participation? Relevant parties may include: all staff internal and external stakeholders senior management specific teams or business units technical experts. Identify risks Can the trainee invite relevant parties to assist in the identification of risks? S or US S or US Can the trainee Research risks that may apply to scope? Research may include: collecting data or statistical information collecting information from other business areas/departments, Kingmill etc lessons learned from other projects or activities market research previous experience public consultation review of literature and other information sources. Can the trainee use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties? S or US S or US Tools and techniques may include: brainstorms BSBRSK501B Manage Risk Page 32 of 36 Analyse risks Select and implement treatments BSBRSK501B Manage Risk checklists flowcharts scenario analysis. Can the trainee assess likelihood of risks occurring? Likelihood may refer to: probability of a given risk occurring, such as: - very likely - likely - possible - unlikely - rare. Can the trainee assess impact or consequence if risks occur? Impact or consequence may refer to: significance of outcomes if the risk occurs, such as: - disastrous - severe - moderate impact - minimal impact. Can the trainee evaluate and prioritise risks for treatment? Evaluation of risks includes: considering the likelihood of the risk occurring considering the impact of the risk determining which risks are most significant and are therefore priorities for treatment. Can the trainee determine and select the most appropriate options for treating risks? Options may include: avoiding the risk changing the consequences changing the likelihood retaining the risk sharing the risk with a third party. Can the trainee develop an action plan for implementing risk treatment? Action plans should include: what actions are required who is taking responsibility time lines monitoring processes. Can the trainee communicate risk management processes to relevant parties? Has the trainee ensured all documentation is in order and appropriately stored? S or US S or US S or US S or US S or US S or US S or US Page 33 of 36 Can the trainee implement and monitor an action plan? Can the trainee evaluate risk management processes? Required Skills Required Knowledge The trainee has communication and literacy skills to consult and negotiate, to prepare communications about risk management, and to encourage stakeholder involvement The trainee has organisational and management skills to plan and implement risk management processes The trainee can use their problem-solving and innovation skills to find practical ways to manage identified risks. The trainee has knowledge of Risk Management - Principles and Guidelines The trainee has knowledge of legislation, codes of practice and national standards, for example: duty of care in terms of how it relates to WHS company law eg. Trade practices, ASIC contract law eg. Sub contractors environmental law eg. Recycling, waste management freedom of information industrial relations law eg. Salary, public holidays, termination privacy and confidentiality eg. Privacy act legislation relevant to organisation’s operations eg. Opening hours, can’t advertise falsely or deceptively The trainee has knowledge of organisational policies and procedures, including: risk management strategy policies and procedures for risk management The trainee knows the overall operations of Thrifty The trainee allows “reasonable adjustment” in the workplace for people with a disability eg. You let an individual work in reservation rather than drive a vehicle if they are in a wheel chair, you speak louder to the car detailers if they are deaf/having a hearing impairment The trainee knows the types of available insurance and insurance providers. Eg. Waiver agreements Eg. Workers compensation Eg. Car insurance companies Critical Aspects (Evidence Required) BSBRSK501B Manage Risk The trainee has provided an example of Thrifty’s risk management plan which includes a detailed stakeholder analysis, explanation of the risk context, critical success factors, identified and analyzed risks, and treatments for prioritized risks S or US S or US S or US S or US S or US S or US S or US S or US S or US S or US S or US S or US Page 34 of 36 The trainee has provided details of monitoring arrangements for the risk management plan and an evaluation of the risk management plan’s efficacy in treating risks S or US The trainee has knowledge of relevant legislation, codes of practice and national standards. (ALSO A REQUIRED KNOWLEDGE) S or US QPS STAFF MEMBER TO FILL OUT SENIOR STAFF MEMBER TO FILL OUT The trainee is competent in the unit: The trainee is competent in this unit. Satisfactory Unsatisfactory Satisfactory Unsatisfactory Assessor: KAREN LAMKIN Staff Member: Signature: ............................Date: .............................. Signature: ..........................................Date: .............................. BSBRSK501B Manage Risk Page 35 of 36 Assessment Method Y/N Performance Criteria / Elements Underpinning Skills (RS) Underpinning Knowledge (RK) Critical Aspects (CA) Employability Skills √ √ ALL √ √ √ √ Job Role Environment Skills √ √ Contingency Planning Skills ALL √ Task Management Skills (Variables) √ Task Skills √ Technology √ Learning Partial Self Management Planning & Organising Initiative & Enterprise Y Oral/Written Questions 1.1, 1.2,1.3,1.4,1.5, 1.7,1.8 2.1,2.2,2.3 3.1,3.2,3.3 4.1,4.2,4.3,4.4,4.5,4.6 Teamwork Communication Assessment 1 Problem Solving Mapping Matrix – BSBRSK501B Manage Risks Dimensions of Competency √ Assessment 2 Documentation Evidence Risk management An operational procedures for a task The risk management plan you used in the example Y √ √ Any evidence/documents that show that you have identified, analysed and evaluated risks. Any evidence that shows the role you play in relation to the wider organisation/the project you were managing the risks for. Assessment 3 Practical Observation by Trainer & Third Party BSBRSK501B Manage Risk Y ALL ALL ALL √ √ √ √ √ Page 36 of 36
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