Elements and Performance Criteria

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.

Risksmay include those relating to:
commercial relationships
economic circumstances and scenarios
human behaviour
individual activities
legislation
management activities and controls
natural events
political circumstances
technology.
Scopemay apply to:
given project
specific business unit or area
specific functional such as:
financial management
OHS
governance
external environment
internal environment
whole organisation.
Relevant partiesmay include:
all staff
internal and external stakeholders
senior management
specific teams or business units
technical experts.
Researchmay include:
data or statistical information
information from other business areas
lessons learned from other projects or activities
market research
previous experience
public consultation
review of literature and other information sources.
Tools and techniquesmay include:
brainstorms
checklists
fishbone diagrams
flowcharts
scenario analysis.
Likelihoodmay refer to:
probability of a given risk occurring, such as:
very likely
likely
possible
unlikely
rare.
Impact or consequencemay refer to:
significance of outcomes if the risk occurs, such as:
disastrous
severe
moderate impact
minimal impact.
Evaluationof 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.
Optionsmay include:
avoiding the risk
changing the consequences
changing the likelihood
retaining the risk
sharing the risk with a third party.
Action plansshould include:
what actions are required
who is taking responsibility
time lines
monitoring processes.

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
risk management plan which includes a detailed stakeholder analysis, explanation of the risk context, critical success factors, identified and analysed risks, and treatments for prioritised risks
details of monitoring arrangements for risk management plan and an evaluation of the risk management plan’s efficacy in treating risks
knowledge of relevant legislation, codes of practice and national standards.
Context of and specific resources for assessment
Assessment must ensure:
access to workplace documentation.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
direct questioning combined with review of portfolios of evidence and third party workplace reports of onthejob performance by the candidate
observation of presentations
oral or written questioning to assess knowledge of risk management policies and procedures
review of documented critical success factors, and goals or objectives for area
review of risks prioritised for treatment
evaluation of action plan for implementing risk treatment
evaluation of documentation communicating risk management processes to relevant parties.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
financial management units, governance units, human resource management units, or technology units.