Unit of competency Outline

Date retreived
22/07/2026 2:10 PM AWST

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Manage risk

Manage risk

Unit of competency
National Code
AHCBUS608A
State Code
D6754
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
10/06/2011
View on TGA
State Implementation and Classification
Approved Date
13/12/2011
Field of Education
080301 - Business Management
Original Release Date
13/12/2011
Nominal Hours
50
Description
This unit covers the performance outcomes, skills and knowledge required to manage risks in a range of contexts across the organisation or for a specific business unit or area. The unit has been designed to be consistent with AS/NZS 4360:2004 Risk management. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Notes
Elements and Performance Criteria
1. Establish risk context
  • 1.1. Review organisational processes, procedures and requirements for undertaking risk management.
  • 1.2. Determine scope for risk management process.
  • 1.3. Identify internal and external stakeholders and their issues.
  • 1.4. Review political, economic, social, legal, technological and policy context.
  • 1.5. Review strengths and weaknesses of existing arrangements
  • 1.6. Document critical success factors, goals or objectives for area included in scope.
  • 1.7. Obtain support for risk management activities.
  • 1.8. Communicate with relevant parties about the risk management process and invite participation.
2. Identify risks
  • 2.1. Invite relevant parties to assist in the identification of risks.
  • 2.2. Research risks that may apply to scope.
  • 2.3. Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties.
3. Analyse risks
  • 3.1. Assess likelihood of risks occurring.
  • 3.2. Assess impact or consequence if risks occur.
  • 3.3. Evaluate and prioritise risks for treatment.
4. Select and implement treatments
  • 4.1. Determine and select most appropriate options for treating risks.
  • 4.2. Develop an action plan for implementing risk treatment.
  • 4.3. Communicate risk management processes to relevant parties.
  • 4.4. Ensure all documentation is in order and appropriately stored.
  • 4.5. Implement and monitor action plan.
  • 4.6. Evaluate risk management process.
RANGE STATEMENT
The range statement relates to the unit of competency as a whole.
Risks may include those relating to:
commercial relationships
economic circumstances and scenarios
human behaviour
individual activities
legislation
management activities and controls
natural events
political circumstances
technology.
Scope may apply to:
given project
specific business unit or area
specific functional such as:
financial management
Occupational Health and Safety (OHS) governance
external environment
internal environment
whole organisation.
EVIDENCE GUIDE
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
The evidence required to demonstrate competency in this unit must be relevant to workplace operations and satisfy holistically all of the requirements of the performance criteria and required skills and knowledge and include achievement of the following:
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
Competency requires the application of work practices under work conditions. Selection and use of resources for some worksites may differ due to the regional or enterprise circumstances.
Replaced By
State Code National Code Title Type
BAS53 AHCBUS608 Manage risk Unit of competency