Unit of competency Outline

Date retreived
22/07/2026 6:10 AM AWST

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Manage project risk

Manage project risk

Unit of competency
National Code
BSBPMG536
State Code
OCE50
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
19/10/2020
View on TGA
State Implementation and Classification
Approved Date
16/03/2021
Field of Education
080315 - Project Management
Original Release Date
16/03/2021
Nominal Hours
40
Description
This unit describes the skills and knowledge required to manage risks that may impact achievement of project objectives. It involves identifying, analysing, treating and monitoring project risks, and assessing risk management outcomes.The unit applies to individuals responsible for managing and leading a project in an organisation, business, or as a consultant.No licensing, legislative, regulatory or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify project risks
  • 1.1 Identify risk objectives and standards, with input from stakeholders
  • 1.2 Identify project risk context to inform risk management processes
  • 1.3 Identify project risks using valid and reliable risk identification methods
2. Analyse project risks
  • 2.1 Identify risk analysis classification criteria and apply to agreed risk ranking system
  • 2.2 Use risk analysis processes, within delegated authority, to analyse and qualify any risks, threats and opportunities
  • 2.3 Identify risk priorities in agreement with project client and other stakeholders
  • 2.4 Document risk analysis outcomes for inclusion in risk register and risk management plan
3. Establish risk treatments and controls
  • 3.1 Identify and document existing risk controls
  • 3.2 Analyse risk treatment options using agreed consultative methods
  • 3.3 Record and implement agreed risk treatments
  • 3.4 Update risk plans and allocate risk responsibilities to project team members
4. Monitor and control project risks
  • 4.1 Establish risk review processes
  • 4.2 Monitor risk environment and identify changed circumstances impacting project risks
  • 4.3 Evaluate risk responses to changed environment
  • 4.4 Implement agreed risk responses and modify plans
5. Assess risk management outcomes
  • 5.1 Review project outcomes for effectiveness of risk-management processes and procedures
  • 5.2 Develop recommended improvements for application in future projects
  • 5.3 Identify and document risk management issues and recommended improvements for application to future projects
No information
No information
Replaces
State Code National Code Title Type
AUI09 BSBPMG517 Manage project risk Unit of competency