What are the sources of gathering information for determining the level of risk within an organisation?

Project Assessment Task 1


You are required to develop a risk management plan for a company of your choice, or for an area of the Registered Training Organisation in which you are studying.  Your risk management plan must include:

  • a detailed stakeholder analysis;
  • explanation of the risk context;
  • critical success factors;
  • identified and analysed risks;
  • treatments for prioritised risk;
  • details of the monitoring arrangements; and
  • an evaluation of the risk managements plan efficiency in treating risks
  • SWOT analysis
  • PEST analysis
  • all required forms for implementation within a workplace (to be developed by you)


Your evaluation of risks must include

  • 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


Your action plans should include

–       what actions are required –       time lines
–       who is taking responsibility –       monitoring processes


Your risks may include those relating to:

–       commercial relationships –       human behaviour
–       economic circumstances and scenarios –       individual activities
–       legislation –       management activities and controls
–       natural events –       political circumstances
–       technology  


To perform this task, you will be required to submit a written risk management plan. Do your research.  Find out what the business does, how it operates, and investigate the industry as a whole.


Assessment Summary

You are to submit the following evidence / perform the following tasks

  • Develop and submit a written risk management plan as outlined above
  • Include your stakeholder analysis


Project Assessment Task 2


Using the risk management process developed in Assessment 1, you are to perform a Risk Assessment on a vocational area of your choice.  This may be a department within the college, a business structure you are aware of, or any other vocational area.


You should use the forms developed in Assessment 1 for this task, and submit them to your assessor as part of your review


As part of this task, you are to record:

  • who was involved in the assessment
  • the processes you undertook
  • any issues you came across and how your dealt with them
  • your findings from the risk assessment



Assessment Summary

You are to submit the following evidence / perform the following tasks

  • Perform your risk analysis
  • Submit your completed risk analysis report with supporting evidence as outlined above



Written Questions Assessment Task 3



  1. Define the terms RISK and RISK MANAGEMENT PROCESS.


  1. What are the 10 principles of risk management (the 10 P’s)?


  1. Explain how will you communicate the risk management processes to alert the relevant parties (internal & external stakeholders) for potential hazards and risks in the workplace?


  1. What are the sources of gathering information for determining the level of risk within an organisation?


  1. Outline a strategy that you could implement to create awareness and interests among employees in the company’s risk management process.


  1. Outline a strategy that could be used to ensure participatory arrangements are established and maintained with employees and their representatives within a small business.  Be sure to include how you would document this process and make the information available to all employees to ensure you meet legislative requirements.


  1. Outline the process you would use to ensure that any issues raised through participative arrangements and consultations are dealt with and resolved promptly and effectively?


  1. You are to detail how you would identify an intervention point for expert risk management advice. Be sure to provide examples of when you would seek expert advice, and who you would contact to receive such advice.


  1. Outline the Hierarchy of Control, explaining how it affects your suggested control measures.


  1. Describe AS/NZS ISO 31000:2009 Risk Management – Principles and Guidelines.


  1. Describe the documentation retention policy that applies to risk management paperwork.


  1. What information should you include in your risk management action plan?


  1. Describe the steps you would take when implementing and monitoring a risk management action plan.


  1. Describe the steps you would take when evaluating a risk management action plan.
  2. What are the 5 main risk types that face businesses?
  3. Perform PEST (Political, Legal, Social and Technological) analysis on the risk management policy and procedures of your workplace. (Student can choose any organisation of their choice).
  4. Review Strengths and weaknesses of exiting policy and procedures of your workplace
  5. Assess the impact or consequences if risks occur in an organisation. Also, determine how will you choose most appropriate options for the treatment of risks?
  6. Define critical success factors, goals or objectives for risk management process
  7. Following from the previous question, you are to provide an example of a risk and a risk management strategy for each risk type


Risk Type Example Risk Risk Management Strategy


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