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BSBRSK401 - Presentation
BSBRSK401 - Presentation
identify risks using tools, ensuring all reasonable steps have been taken to
identify all risks
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Scenario
Zarah
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What is risk and risk
management?
Probability Consequence
of risk of risk
Organisational
objectives
Zarah
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The risk management process
Risk assessment
Risk identification
consultation
Risk analysis
Risk evaluation
Risk treatment
Zarah
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Establish the context of risk
anti-discrimination
legislation.
Identifying risk
Zarah
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Document identified risks
Zarah
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The next steps
Zarah
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Analysing and
Evaluating Risk
BSBRSK401 Identify risk and
apply risk management processes
RISK
Probability:
rare
Probability x
frequent. consequence =
Consequence: impact
insignificant
catastrophic.
Zarah
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Risk matrix
CONSEQUENCE
Almost
HIGH HIGH EXTREME EXTREME EXTREME
certain
Internal External
stakeholders stakeholders
Zarah
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Controlling Risk
BSBRSK401 Identify risk and
apply risk management processes
Zarah
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Scenario
implementing a
compliance
management system
increasing insurance.
Zarah
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Determine control measures
Strengths and
Treatment options: weaknesses of each
option:
avoid the risk
reduce the likelihood Consider, for example:
of the risk contracts
cost effectiveness
reduce the
consequences economic and social
environment
share the risk equity
retain the risk individual freedom
jurisdictional authority
objectives.
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Hierarchy of control
Can you
eliminate Yes: then eliminate the risk
the risk?
Can you
Yes: then reduce the risk (e.g. by
reduce
substitution)
the risk?
Can you isolate Yes: then isolate the risk (e.g. guards and
the risk? barriers)
Can you
Yes: then introduce administrative controls
reduce the risk
(e.g. safe operating procedures)
by control?
Then provide
personal According to AS/NZ standard Zarah
protection. Institute of
Education
ZIE
Determine responsibility for
risk
Consider the following actions:
Placing specific people who are to be
accountable for the development,
implementation and maintenance of the risk
management process.
Specifying individuals with the role of
implementing risk treatment, maintaining risk
controls and reporting relevant information.
Providing appropriate levels of recognition,
reward, approval and authority. Zarah
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Prepare and implement risk
management
Zarah
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The next steps
Zarah
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Monitoring and Reviewing
Risk
BSBRSK401 Identify risk and apply risk management
processes
monitor results
consult widely
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Regularly monitor and
review risk
To keep your risk management planning up-to-
date, ensure you do the following.
review it on a regular basis
evaluate changes within your organisation
and its environment.
continually improve the risk management
processes across the organisation on the
basis
of review.
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Review performance against
measures of success
Output (outcome or
Input (managerial): result):
For example: For example:
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Monitor and review risk in own
area of operation