This unit of competency specifies the outcomes required to develop, implement and evaluate a risk management system to ensure effective operations in the property industry. It requires the ability to determine system requirements, and identify and organise appropriate support processes to implement, monitor, maintain and review the system.The unit supports the work of those involved in developing, implementing and evaluating risk management systems in the property industry. It applies to real estate agents, strata community managers, stock and station agents, Nationwide House Energy Rating Scheme (NatHERS) assessors, and home sustainability assessors.Licensing, legislative, regulatory or certification requirements apply to this unit in some States and Territories. Relevant state and territory regulatory authorities should be consulted to confirm those requirements.