Bsbops504 Lap F v1.0

Learner Assessment Pack
BSBOPS504
Manage business risk
Precision Group (Australia)

Level 13, 269 Wickham St, Fortitude Valley 4006
Email: info@precisiongroup.com.au
Website: www.precisiongroup.com.au
© 2021 Precision Group (Australia)
BSBOPS504 - Manage business risk (Release 1)
This resource has been developed for Precision Group (Australia)

by Academy of Professional Excellence (APEX) Pty Ltd.
Email: info@apexeducation.edu.au
Website: www.apexeducation.edu.au
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Disclaimer
Precision Group (Australia) has made a great effort to ensure that
this material is free from error or omissions. However, you should
conduct your own enquiries and seek professional advice before
relying on any fact, statement or matter contained in this
document. Precision Group (Australia) is not responsible for any
injury, loss or damage as a result of resource included or omitted
from this material. Information in this course material is current at
2 Learner Assessment Pack Produced 22 February 2021
© Precision Group (Australia)

the time of publication.

3
Learner Assessment Pack Produced 22 February 2021

Version Control & Document History
Date Summary of modifications Version
22 February 2021 Version 1 produced following assessment validation. 1.0

Table of Contents
Assessment Delivery 5
Learner Information 6
Steps for Learners 8
Reasonable Adjustment 9
Resources Required for Assessment 10
Accessing Intranet Pages 10
Assessment Agreement 13
Assessment Tasks 15
Short Answer Questions 17
Practical Assessment 25
Your State/Territory 26
Workplace Project Assessment 27
Project Overview 27
Contextualisation 29
Simulating the Assessments 31
Task 1: Establish the Risk Context and Research Risks 32
Task 2: Consult with Stakeholders to Identify Risks That Apply to Scope 32
Task 3: Analyse Risks and Develop Risk Treatment Schedule and Plan 35
Task 4: Consult with Stakeholders to Confirm Risk Analysis and Treatment Plan 37
Task 5: Implement and Monitor Risk Treatment Plan 41
Assessment Workbook Checklist 44
Assessment Workbook Checklist 45
Recording 47
Record of Assessment 48

5


Assessment Delivery

Learner Information
This Learner Assessment Pack is designed for you to complete the assessment for BSBOPS504 -
Manage business risk (Release 1). It may refer to your own workplace/organisation, or to a
simulated business provided by your assessor.
The assessment tasks include Short Answer Questions where you need to demonstrate your
knowledge and understanding of the unit, and the Practical Assessment, where you need to
demonstrate your skills required in the unit. It is recommended that you complete the Practical
Assessments in your own workplace/organisation. If you don’t have access to a real workplace, you
can complete the assessment in a simulated environment where resources and conditions similar to
a workplace must be accessed. Ensure to discuss this with your assessor prior to commencing with
the assessment.
Each Learner Assessment Pack is made up of four parts:

Assessment Delivery
Learner Information
Steps for Learner
Assessment Agreement
Assessment Tasks
Assessment Tasks, including:
▪ Short Answer Questions
▪ Practical Assessment
Assessment Workbook Checklist
Recording
Record of Assessment

7

Before you commence your assessment, ensure that you have a good knowledge of the subject,
have thoroughly read your Learner Resource, and clearly understand the assessment requirements
and the expectations of the industry to which the assessment is related.
Assessments are designed to be completed using your industry/organisation, but your Registered
Training Organisation (RTO) may assist you by contextualising the unit to be completed in a
simulated workplace environment.
You will be required to demonstrate knowledge and skills which must be observed directly by your
assessor. Where the observation task may be difficult for the assessor to directly observed, a video
recording of the practical observation task must be submitted as supplementary evidence.
Verification from at least one third-party signatory, and preferably two or more witnesses is required
to confirm your demonstration of these practical knowledge and skills. These witnesses would
usually be your current or recent supervisors, or your assessor.
The practical assessment tasks may be completed using your own workplace, a simulated
environment, or a mix of both, as instructed by your assessor. To contextualise this assessment to
your industry/organisation, you may be asked by your assessor to provide additional information
based on your industry/organisation.
Instructions are given for each task. If you have questions, or unclear how to proceed, consult with
your assessor.
Records of all aspects of the assessment must be kept in your Learner Assessment Pack
The record of assessment is a legal document and must be signed, dated, and a copy stored as
required by your Registered Training Organisation (RTO).

Steps for Learners

Your Learner Assessment Pack:
1. Upon receiving your Learner Assessment Pack, discuss with your assessor the expectations
and requirements of this assessment. You may also need to supply contact details of one or
two work referees who can confirm your skills in the industry.
Discuss with your assessor if you intend to undertake the practical assessment tasks based
on your employing organisation, in a simulated business, or in a mix of both.
2. Your Learner Assessment Pack is where you will get the task information. Complete each
task as instructed using either your own workplace, or using a simulated business, as
discussed with your assessor.
3. After you complete your assessment, gather and submit your evidence documents as
detailed in the task(s) in the timeframe agreed with your assessor.
Your assessor will advise you if there are any further steps for you to take to satisfactorily
complete this assessment.

9

Reasonable Adjustment
Adapted Reasonable Adjustment in teaching, learning and assessment for learners with a disability -
November 2010 - Prepared by - Queensland VET Development Centre
Reasonable adjustment in VET is the term applied to modifying the learning environment or making
changes to the training delivered to assist a learner with a disability. A reasonable adjustment can be
as simple as changing classrooms to be closer to amenities or installing a particular type of software
on a computer for a person with vision impairment.
Why make a reasonable adjustment?
We make reasonable adjustments in VET to make sure that learners with a disability have:
▪ The same learning opportunities as learners without a disability, and
▪ The same opportunity to perform and complete assessments as those without a disability.
Reasonable adjustment applied to participation in teaching, learning and assessment activities can
include:
▪ Customising resources and assessment activities within the training package or accredited
course
▪ Modifying the presentation medium
▪ Learner support
▪ Use of assistive/adaptive technologies
▪ Making information accessible both before enrolment and during the course
▪ Monitoring the adjustments to ensure learners needs continue to be met
Assistive/Adaptive Technologies
Assistive/Adaptive technology means ‘software or hardware that has been specifically designed to
assist people with disabilities in carrying out daily activities’ (World Wide Web Consortium - W3C). It
includes screen readers, magnifiers, voice recognition software, alternative keyboards, devices for
grasping, visual alert systems, digital note-takers.
IMPORTANT:
Reasonable adjustment made for collecting learner assessment evidence must not impact on the
standard expected by the workplace, as expressed by the relevant unit(s) of competency. For
example, if the assessment were gathering evidence of the learner’s competency in writing,
allowing the learner to complete the assessment verbally would not be a valid assessment
method. The method of assessment used by any reasonable adjustment must still meet the
competency requirements.


11

Resources Required for Assessment

To complete the Practical Assessment tasks, you will require access to:
▪ Computer with internet and email access, and a working web browser
▪ Installed software: Word, Adobe Acrobat Reader
▪ A workplace, or a simulated workplace environment that will allow you access to:
o Relevant information:
● Context and scope of the organisational risk management process based on

industry or workplace standards, guidelines, and approaches
● Legislation and regulation related to the context of risk management in the
organisation
● Existing arrangements that follow the risk management process
o Workplace documentation, including:
● Federal and/or state/territory legislation and regulations relating to business

risk area identified by the learner.
● Government websites relevant to business risk area identified in Workplace
Project Task 1.
● Online sources relevant to the business risk area identified in Workplace
Project Task 1.
● Organisational policies and procedures for risk treatment implementation
o Workplace templates, including or similar to the following:
● Risk Management Report

● Risk Register
● Risk Treatment Schedule and Plan

o People, including:
● At least two relevant stakeholders from the organisation who will receive
the Risk Management Report and invite to assist in identification of risks.
● At least two relevant parties who will receive the updated Risk Management
Report.
● Any other resources required to implement risk treatment activity.
● Relevant stakeholders impacted by the specific activity to be undertaken.
● Key personnel responsible for the implementation of the risk treatment
activity.
o Opportunity to:
● Conduct a meeting with at least two stakeholders to assist in identification

of risks.
● Conduct a meeting with at least two stakeholders to assess risks, determine
appropriate risk treatment actions and priorities and explain the risk
management processes.
● Conduct a meeting with at least two stakeholders to consult and negotiate
about risk management processes and outcomes.

13

Accessing Intranet Pages

Some assessment tasks may require you to access specific pages from the simulated business,
Bounce Fitness. Links to these pages are formatted in Blue Text.
To access these, hold the Ctrl key for Windows users while clicking on these links. For Mac users,
directly click the link.
The simulated business, Bounce Fitness, can be accessed by going to
http://bouncefitness.precisiongroup.com.au.
Login to Bounce Fitness using the username and password provided by your Registered Training
Organisation (RTO).

Assessment Agreement
Instructions:
Discuss and accomplish this section with your assessor before commencing then sign the
confirmation at the end of this Agreement.
Please tick at least one of the following for each section: ✔
Delivery Method
Classroom ◻
Small Group ◻
One-on-One ◻
Online ◻
Other (please describe) ◻
Assessment Pathway (for Practical Assessment)
Learner’s Organisation (Pre-assessment meeting conducted) ◻
Simulated Workplace Environment (Contextualised by RTO) ◻

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Assessment Conditions
Skills in this unit must be demonstrated in a workplace or simulated environment where the
conditions are typical of those in a working environment in this industry. This includes access to:
Legislation, regulations, standards and codes relating to risk management ◻
Workplace documentation and resources relating to risk management. ◻
Assessors of this unit must satisfy the requirements for assessors in applicable vocational
education and training legislation, frameworks and/or standards.
I confirm that the activities and assessment completed for this unit are my own work, and comply
with all relevant copyright and plagiarism rules.
I understand that if there is any doubt in the authenticity of any piece of my assessment
submission, I can be orally examined, and the signatory of evidence records may be contacted.

Learner’s name
Learner name

Learner’s signature Learner’s handwritten Date Date when the learner
signature signed this

Assessor’s name
Assessor name

Assessor’s signature Assessor’s handwritten Date Date when the
signature assessor signed this
End of Assessment Agreement


Assessment Tasks

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Tasks
Complete all tasks in this assessment as instructed. If you have questions, consult with your assessor.
Contextualisation of Assessments by RTOs

Contextualisation is the process of modifying assessment tools to make learning more meaningful
for your learners and their employers.
Precision Group (Australia) recommends that your RTO contextualise the assessment tools to suit
particular industry requirements and specific organisational requirements before using them.
Contextualisation must retain the integrity of the assessment and the outcome of the unit of
competency.

Short Answer Questions

Preliminary Task
Question 1 of these Short Answer Questions requires you to refer to the state/territory-specific
requirements, such as legislation and regulations of your state/territory.
For your assessor’s reference, indicate below which state/territory you are currently based or
located in by ticking the box that corresponds to your answer.
When answering Question 1, you must refer to the legislation and regulations of the
state/territory you ticked below.
The state/territory where your workplace/organisation is based or located in.
□ Australian Capital Territory □ South Australia
□ New South Wales □ Tasmania
□ Northern Territory □ Victoria
□ Queensland □ Western Australia

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Question 1
Identify the following relevant to risk management, as applicable to your organisation:

▪ At least two legislation
▪ At least two regulations
Briefly explain how each legislation and regulation affects risk management processes in your
organisation.
Brief Explanation on How Legislation Affects

Legislation Risk Management Processes in the
Organisation
a. Anti- discrimination Anti-discrimination laws in Australia

help protect people from discrimination and
harassment. In Australia, it is unlawful to
discriminate based on several protected
attributes including age, disability, race, sex,
intersex status, gender identity and sexual
orientation in areas
b. Privacy Act Australia's federal anti-discrimination

laws are further elaborated in Age
Discrimination Act 2004
Brief Explanation on How Regulation Affects

Regulation Risk Management Processes in the
Organisation
a. Regulation of Pertaining to food The Food Regulations 1985 is the key
and drugs 1985 supporting regulation for food safety covering
procedures for taking samples, labelling, food
additives and nutrient supplement, food
packaging, and incidental constituent,
additionally, food standards.
b. Cyber Security Regulation Setting clear cyber security expectations

through cyber security standards
for:a.corporate governance personal

information and smart (internet of things)

devices

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Question 2
Identify the following items in relation to risk management and document storage in your
organisation.
A. Risk management
a. At least one policy
b. At least two corresponding processes under the policy
c. At least two corresponding procedures to carry out the processes
B. At least two document storage requirements as per the risk management policy
Submit a copy of your organisation’s risk management policies and procedures that you used to
answer this question.
A. Risk Management
a. Risk Management Policy

Identify at least one policy related to risk management.

b. Risk Management Processes

Outline at least two processes under this policy, which state what needs to be done
and why.
i.
ii.

c. Risk Management Procedures

Outline the steps that are generally followed to carry out these processes.
i.
ii.
B. Document Storage Requirements
a.
b.

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Question 3
Define the following types of business risks.
Types of Business Risk Definition

a. Economic Risk

b. Compliance Risk

c. IT Security Risk

d. Financial Risk

Question 4
Define each of the following options for treating risks.
Options for Treating Risks Definition

1. Risk avoidance

2. Risk reduction

3. Risk sharing

4. Risk acceptance

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Question 5
For each of the following specific ISO 31000 standards, identify their purpose and at least two key
elements.
a. ISO 31000:2018: Risk management: Guidelines
b. IEC 31010:2019: Risk management: Risk assessment techniques
ISO 31000:2018: RISK MANAGEMENT: GUIDELINES
PURPOSE
Identify what this standard aims to
do, i.e. the scope of the standard.
ELEMENTS i.
Outline at least two principles that
ii.
this standard outlines.
IEC 31010:2019: RISK MANAGEMENT: RISK ASSESSMENT TECHNIQUES
PURPOSE
Identify what this standard aims to
do, i.e. the scope of the standard.
ELEMENTS i.
Outline the purpose of at least two
components of risk assessment as ii.
outlined in this standard. Use bullet
points.

Question 6
Explain how the following tools and techniques are used to identify risks for scoping risk
management processes:
1. Tools
a. SWOT Analysis
b. PESTLE Analysis
2. Techniques
a. Documentation review
b. Brainstorming
TOOLS
SWOT Analysis
PESTLE Analysis
TECHNIQUES
Documentation review
Brainstorming

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Practical Assessment
The Practical Assessment is a set of tasks that must be completed in a workplace or simulated
environment where the conditions are typical of those in a working environment in this
industry.
To be assessed for this unit of competency, you must demonstrate your skills and knowledge to
manage business risks in a range of contexts across an organisation or for a specific business
unit or area in any industry setting.
The Practical Assessments in this workbook include:
1. Workplace Project Assessment
A series of tasks assessing the learner’s practical knowledge and skills relevant to the
unit of competency. This includes the learner completing workplace documents or
similar as evidence of competent performance.
2. Workplace Practical Observation
A set of assessment tasks where the learner must demonstrate practical skills relevant
to the unit of competency. These skills are to be demonstrated while being observed by
the assessor.
IMPORTANT!
▪ All signatures/initials in your submissions, including yours, must be handwritten and
dated. Submissions with signatures/initials must be scanned.
▪ The supervisor/observer who completes and signs your evidence submissions must
provide their real name, contact number, and email address for your assessor’s
reference.
▪ Should you encounter issue or concerns regarding your assessment, contact your
assessor.

Your State/Territory
Some tasks in this Practical Assessment require you to refer to legislation and regulations
applicable to the state/territory where the workplace business risk management process you
will lead for this practical assessment is based or located in.
For your assessor’s reference, indicate below which state/territory your workplace/organisation
is based or located in by ticking the box that corresponds to your answer.
When completing these tasks, refer to the legislation and regulations that apply to your
organisational risk management processes applicable to the state/territory you ticked below.
The state/territory where your workplace/organisation is based or located in.
□ Australian Capital Territory □ South Australia
□ New South Wales □ Tasmania
□ Northern Territory □ Victoria
□ Queensland □ Western Australia

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Workplace Project Assessment

Project Overview
This workplace project assessment requires you to lead at least one risk management process
for an organisation or work area.
This assessment is divided into five tasks:
▪ Task 1: Establish the Risk Context and Research Risks
▪ Task 2: Consult with Stakeholders to Identify Risks That Apply to Scope
▪ Task 3: Analyse Risks and Develop Risk Treatment Schedule and Plan
▪ Task 4: Consult with Stakeholders to Confirm Risk Analysis and Treatment Plan
▪ Task 5: Implement and Monitor Risk Treatment
This project requires you to complete the assessment tasks in a real workplace or simulated
environment where the conditions are typical of those in a working environment in this
industry.
Each task comes with a set of instructions. You are to follow and perform these instructions
while being observed by the assessor and/or submit any required documentation as evidence of
task completion.
Before starting this assessment, your assessor will discuss with you these tasks, including
instructions, resources, and guidance for satisfactorily completing them.

You are required to:

▪ Complete the tasks within the time allowed, as scheduled in-class roll.
▪ Establish the risk context and researching risks
▪ Consult with stakeholders to identify risks that apply to scope
▪ Analyse risks and develop a risk treatment schedule and plan
▪ Consult with stakeholders to confirm the risk analysis and treatment plan
▪ Implement and monitor the risk treatment
Resources Required for Assessment

Resources you need to access to complete the project assessment are outlined in the Resources
Required for Assessment section of this workbook, and in the corresponding Assessor’s
Checklist and/or Observation Form of each task.
Discuss each requirement with your assessor before commencing with each task. They will
organise the resources required for this assessment.
IMPORTANT: Additional workplace resources may be required upon the contextualisation of
this assessment.
Forms and Templates

Generic forms and templates are provided in the project tasks, unless otherwise specified.
These can be accessed from the following link:
BSBOPS504 Forms and Templates
If you are currently in a workplace, use similar workplace templates and forms used by your
organisation to complete each assessment task.
Discuss with your supervisor and your assessor first to ensure that the forms/templates you will
use cover all criteria required by each assessment task.
Review these forms and templates with your assessor before starting the task.

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Contextualisation
Instructions to the Assessor
The aim of this workplace assessment is to assess the learner’s practical knowledge and skills in:
▪ Establishing the risk context and researching risks
▪ Consulting with stakeholders to identify risks that apply to scope
▪ Analysing risks and developing a risk treatment schedule and plan
▪ Consulting with stakeholders to confirm their risk analysis and treatment plan
▪ Implementing and monitoring risk treatment
Tasks 1 to 5 of this Workplace Project Assessment are designed only for the purpose of this
assessment and not meant to add/modify any existing risk management policies and procedures
in the learner’s specific organisation/workplace.
Prior to commencing the assessment, the assessor must contextualise these tasks as well as any
other assessment tool provided along with this workbook, e.g., Observation Forms, Assessor’s
Checklists, and other generic templates. The assessor must contextualise these to reflect:
▪ The scope within the learner’s workplace context to which the risk management policies,
processes, procedures, and requirements apply.
This will include specific areas in the workplace/organisation where risk treatment is to
be implemented, and any risk management issues within the organisation it aims to
address.
▪ Legal and regulatory requirements that apply to this project, as well as those
requirements from the state/territory of the learner’s workplace/organisation.
▪ Relevant policies, processes, and procedures from your RTO or the learner’s
workplace/organisation.
To contextualise these tasks:

▪ Adapt/revise the instructions provided in each task so that they reflect the project the
learner is working on, including:
o Existing policies, procedures, and processes from the learner’s
workplace/organisation that apply to this project.
o Federal and/or state/territory legal and regulatory requirements that apply to
this project.
▪ Adapt/revise the Observation Form and/or the Assessor’s Checklist, as well as any

assessment forms and templates provided in each task so that they reflect the project
the learner is working on, including the context of the learner’s workplace/organisation.
For example, the Assessor’s Checklist in Task 1 outlines the requirements that the learner
must provide to complete a Risk Management Report for a workplace risk management
policies, processes, procedures, and requirements. The criteria provided are generic and
do not apply to a specific workplace/organisation.
Adapt/revise the contents of this checklist and the corresponding form/template so that
they cover all requirements that apply to the project.
Generic forms and templates are provided in the project tasks, unless otherwise specified.
Learners who are currently in the workplace can use similar forms and templates used by their
workplace/organisation to complete each assessment task. However, the forms/templates they
will use must cover all criteria required by each assessment task, and all requirements specified
in the task must be included in their submissions. You must review the forms and templates the
learner will use before they start the assessment.
IMPORTANT:
Any contextualisation required must be completed before distributing the assessment
workbooks and associated assessment tools to the learners.
When contextualising the tasks for your RTO and your learner, ensure the assessment tasks
and benchmark performance still address the relevant unit requirements and assessment
requirements in compliance with Standards for RTOs 2015 Clause 1.8-1 Principles of
assessment and Clause 1.8-2 Rules of evidence.

33

Simulating the Assessments
Instructions to the Assessor
This workplace project assessment must be conducted in a real workplace or in a simulated

workplace environment.
Where a real workplace is not available, the assessor must conduct the assessment in a
simulated workplace environment where conditions are typical of those experienced in a real
workplace.
Even if the assessment is undertaken in a simulated workplace environment, it must still provide
the learner with access to all the resources required to complete this assessment, e.g., if the task
requires the learner to refer to organisational plans and documents to develop new workplace
policies and procedures, they must still be provided with actual/simulated organisational plans
and documents to assist in new policy development.
To simulate the tasks:
▪ Adapt/revise the instructions provided in each task so that they can be completed in a
simulated environment. This includes:
o Providing additional contextual information such as details of a simulated
business/workplace environment.
o Providing simulated workplace documents such as policies and procedures,
business plans, organisational charts, key performance indicators (KPIs), job
descriptions, etc.
o Arranging the requirements of observation tasks such as discussing with the
learner’s workplace supervisor to allow the learner to conduct meetings with
people within the organisation to participate in these meetings, through role
play activities.
o Creating scenarios based on the simulated business/workplace environment that
will allow the learner to complete the task, e.g. resolving a customer service or
workplace dispute.
IMPORTANT:
Any preparation required to simulate the assessments must be completed before distributing
the assessment workbooks and associated assessment tools to the learners.
When simulating the assessments for the learner, the assessor must ensure the assessment
tasks and benchmark performance still address the relevant unit requirements and assessment
requirements in compliance with Standards for RTOs 2015 Clause 1.8-1 Principles of

assessment and Clause 1.8-2 Rules of evidence.

35

Task 1: Establish the Risk Context and Research Risks
ASSESSMENT INSTRUCTIONS
This task will require you to prepare a Risk Management Report. You will use the Risk
Management Report in Workplace Project Task 2 to identify risks that apply to the scope.
Use your workplace/organisation’s template to complete this task or use the Risk Management
Report template provided at the Bounce Fitness site.
To complete this task, you must:
▪ Identify one business risk area that your organisation may be exposed to.
The business risk area may be any of:
o Customer engagement
o Escalations
o Privacy
o Security
o Work health and safety (WHS)
▪ Access organisational documents or sources and identify the following details for your
organisation in relation to the business risk area you identified:
o At least two processes
o At least two procedures
o At least two requirements
These details must relate to the risk management process followed by the organisation in
the identified business risk area.
▪ Evaluate the identified organisational processes, procedures, and requirements to
establish the context of risk management in your organisation and determine:
o The scope of the risk management process
o The context of the risk management process, in terms of:
● Political context
● Economic context
● Social context

● Legal context
● Technological context
● Policy context

37

o At least two relevant stakeholders of the risk management process
These may include competitors, customers, employees, industry groups,

suppliers.
▪ Identify at least two existing arrangements that follow the risk management process.
Existing arrangements are risk management policies, procedures, and processes that are
currently followed in the organisation.
▪ Identify and review at least two strengths and two weaknesses of each existing
arrangement.
▪ Identify the following for the area included in the scope:
o At least two critical success factors
o At least two goals
o At least two objectives
▪ Research and identify at least three risks that may apply to the scope you determined.
▪ Prepare a Risk Management Report including all items listed above.
o Outline the written sources of information accessed to develop the Risk
Management Report.
o Include annexures for the following:
● Extracts of organisational processes, procedures, and requirements

related to risk management.
● Copies of sources of research to identify risks that apply to scope.
▪ Leave blank all sections which carry instructions to update after stakeholder consultation
and negotiation.
▪ Communicate the Risk Management Report to at least two relevant stakeholders.
In the communication, invite the stakeholders to assist in identification and agreement of
business risks that may apply to the scope of the risk management process.
These may be the same stakeholders of the risk management process you identified earlier

Review Workplace Project Task 1 – Assessor’s Checklist before starting this task. This form
outlines the following:
▪ Resources you are required to access to complete the task.
▪ All criteria your submission must address to satisfactorily complete this task.
Your assessor will discuss these resources with you, and the criteria outlined in this form prior to
this assessment.
Review the template you will use to complete this task. If you are using a template from your
workplace/organisation, discuss with your assessor to ensure that the template covers all
requirements that apply to this task.
Submit the partially-completed Risk Management Report to your assessor. Also submit any
supplementary documents or sources accessed to complete this task.
You must also submit evidence of communication of the Risk Management Report to at least two
stakeholders of the organisation, inviting them to assist in identification of risks.
Evidence must be at least one of the following:
▪ Email correspondence
▪ Meeting minutes
▪ Video recording of the meeting conducted with the stakeholders
When using this as evidence, ensure to inform the stakeholders of the purpose of the
recording before doing so.
Risk management Report
Learner name Hardeep Singh

Workplace / organization Bounce fitness
State / territory Australia
Date prepared 13th Feb ,2023

39

Task 2: Consult with Stakeholders to Identify Risks That Apply to Scope
This task will require you to conduct a meeting with at least two stakeholders you invited in
Workplace Project task 1 to assist in identification of risks.
Your assessor will observe you as you consult and communicate with the stakeholders.
You will be assessed on your practical skills to:
▪ Explain the risk management process.
This must be the same risk management process followed by your organisation that you
identified in Workplace Project Task 1.
▪ Present the researched risks that you identified in Workplace Project Task 1.
▪ Consult and negotiate with the stakeholders on the following items you identified in
Workplace Project Task 1:
o At least two risk management processes
o At least two risk management outcomes
o At least three risks that apply to scope.
You must:
o Ask the stakeholders for their views on the risks you have presented.
o Where there is a difference of opinion, negotiate with the stakeholders to

include the items in the risk management process.
▪ Reach consensus on at least three risks that apply to scope.
▪ Select appropriate conventions and protocols when communicating with the
stakeholders.
Appropriate communication techniques must be observed throughout the meeting.
After the meeting, you must update the Risk Management Report you prepared in Workplace
Project Task 1 to include the outcomes of consultation and negotiation with the stakeholders on:
▪ At least two risk management processes

▪ At least two risk management outcomes

▪ The three business risks the stakeholders and you agreed on during the
meeting/presentation.

41

Review the following before starting this task:

▪ Workplace Project Task 2 – Assessor’s Checklist
▪ Workplace Project Task 2 – Observation Form
These forms outline the following:
▪ All practical skills you need to demonstrate to satisfactorily complete the observation
task.
Your assessor will discuss these resources with you, and the criteria outlined in these forms prior
to this assessment.
Submit the updated Risk Management Report to your assessor.
You must also submit any of the following written presentation materials that you used to discuss
the risks that apply to scope:
▪ PowerPoint presentation
▪ Handouts
It is recommended to have your assessor review first the presentation material you will use
before presenting with the key stakeholders to ensure that all information is covered.

Task 3: Analyse Risks and Develop Risk Treatment Schedule and Plan
This task will require you to analyse the risks you identified in Workplace Project Task 2 and
develop a risk treatment plan for at least two risks.
Use your workplace/organisation’s template to complete this task, or use the Risk Register and
Risk Treatment Schedule and Plan templates provided at the Bounce Fitness site.
▪ List at least three risks you identified in Workplace Project Task 2 in the Risk Register. For
each identified risk:
o Provide a risk description
This must conform with the risk description in the updated Risk Management
Report from Workplace Project Task 2.
o Assess the likelihood of the risk occurring
o Assess the impact or consequence if the risk occurs
o Assign an initial risk rating to the risk
o Assign a priority level for each risk based on its risk rating.
o Identify at least two possible control measure for treating the risk.
o Identify the current treatment to manage the risk
▪ Access and review organisational documents or sources that contains information on the
current treatment implemented for each risk identified.
▪ Partially complete the Risk Treatment Schedule and Plan with:
o The identified risks
Write the risks in order of the priority ratings identified in the Risk Register.
o Risk treatment option
Identify whether to avoid, reduce, transfer, or accept the risk.

o Risk treatment actions
o Personnel responsible for implementation of treatment activity

43

o Target date for implementation
o At least one expected outcome of implementation
Each outcome must be SMART (Specific, Measurable, Achievable, Relevant,

Timebound)

o You must leave the following sections blank:
● Risk Monitoring
● Evaluation of Implementation
● Areas of Improvement
o You must submit, as supplementary evidence, copies of the sources of
information on current treatment to manage the risks you identified.
this assessment.
requirements that apply to this task. Otherwise, use the Risk Register and Risk Treatment
Schedule and Plan templates provided at the Bounce Fitness site.
Submit the following to your assessor:
▪ Completed Risk Register
▪ Partially-completed Risk Treatment Schedule and Plan templates
Include any supplementary documents/sources used to create the Risk Register template, such
as:
▪ Organisational documents such as business plans or similar, with relevant objectives and
practices for risk management
Printed or online sources relevant to risk management issues, practices, or requirements,
including government websites

45

Task 4: Consult with Stakeholders to Confirm Risk Analysis and Treatment

Plan
This task will require you to:

▪ Conduct a meeting with at least two stakeholders to consult and confirm your risk
analysis and treatment schedule and plan you completed in Workplace Project Task 3.
▪ Communicate the updated Risk Management Report to at least two relevant parties.
A. Conduct a meeting with at least two stakeholders
Your assessor will observe you as you consult and communicate with the stakeholders.
You will be assessed on your practical skills to:
▪ Explain the risk management process.
This must be the same risk management process you identified in Workplace Project Task
1.
▪ Present your risk analysis and treatment schedule and plan you completed in Workplace
Project Task 3. You must explain the following:
o Completed Risk Register.
o Partially-completed Risk Treatment Schedule and Plan.
▪ Consult and negotiate with the stakeholders to assess each risk identified in both
templates from Workplace Project Task 3.
You must ask the stakeholders for their views on the risk assessment, risk treatment
schedule and plan you have presented, and the risks you have selected for treatment.
Where there is a difference of opinion, you must negotiate with the stakeholders to reach
agreement.
▪ Reach consensus on the risk assessment and treatment schedule and plan you have
presented.
▪ Select appropriate conventions and protocols when communicating with the
stakeholders.
Appropriate communication techniques must be observed throughout the meeting.

B. Communicate the updated Risk Management Report to at least two relevant parties
After the meeting, you must:
▪ Update the Risk Management Report you previously updated in Workplace Project Task
2 to include the Risk Register and Risk Treatment Schedule and Plan as annexures.
▪ Communicate the updated Risk Management Report (including Risk Register and Risk
Treatment Schedule and Plan as annexures) to at least two relevant parties.
Relevant parties refer to individuals or groups such as accreditation bodies, auditors, risk
managers.
Review the following before starting this task:
▪ Workplace Project Task 4 – Assessor’s Checklist
▪ Workplace Project Task 4 – Observation Form
These forms outline the following:
▪ All practical skills you need to demonstrate to satisfactorily complete the observation
task.
Your assessor will discuss these resources with you, and the criteria outlined in these forms prior
to this assessment.
Submit the updated Risk Management Report (including Risk Register and Risk Treatment
Schedule and Plan as annexures) to your assessor.
Submit any of the following written presentation materials that you used to discuss the risks that
apply to scope:
▪ PowerPoint presentation
▪ Handouts
It is recommended to have your assessor review first the presentation material you will use before
presenting with the key stakeholders to ensure that all information is covered.
You must also submit evidence of communication of the updated Risk Management Report to at
least two relevant parties.
Evidence must be at least one of the following:
▪ Email correspondence
▪ Meeting minutes

47

▪ Video recording of the meeting conducted with the relevant parties

When using this as evidence, ensure to inform the stakeholders of the purpose of the
recording before doing so.

Task 5: Implement and Monitor Risk Treatment Plan
This task will require you to:

▪ Implement risk treatment for at least two risks in your workplace, based on the Risk
Treatment Schedule and Plan you agreed with relevant stakeholders in Workplace
Project Task 4.
▪ Monitor and evaluate the risk management process to identify areas of improvement.
Use your workplace/organisation’s template to complete this task or use the Risk Treatment
Schedule and Plan template provided at the Bounce Fitness site.
PART A: Implement Risk Treatment Plan
▪ Access and identify the following details for your organisation:
o At least two policies for risk treatment implementation
o At least two procedures for risk treatment implementation
▪ For each risk:

o Implement the risk treatment actions identified in the Risk Treatment Schedule
and Plan, according to the organisational policies and procedures you have
identified.
o Update the Risk Treatment Plan section of the Risk Treatment Schedule and Plan
with the Actual Date of Implementation.

49

PART B: Monitor Risk Treatment Plan

▪ Monitor the implemented risk treatment actions on at least two occasions.
▪ For each monitoring occasion, update the Risk Monitoring section of the Risk Treatment
Schedule and Plan with the following:
o Risk Treatment Action
o Date of Monitoring
o Actual Outcomes
▪ After the second monitoring occasion:

o Evaluate the implementation of the Risk Treatment Plan section of the Risk
Treatment Schedule and Plan by comparing the actual outcomes against the
expected outcomes.
▪ Identify at least one favourable outcome
A favourable outcome is where the actual outcome was better than
expected
▪ Identify the reason for the favourable variance
▪ Identify at least one unfavourable outcome
An unfavourable outcome is where the actual outcome was worse than
expected
▪ Identify the reason for the unfavourable variance
o Identify at least two areas of improvement in the risk management process
based on the actual outcomes of the implementation.
o Provide a reason for selecting each area of improvement

this assessment.
requirements that apply to this task. Otherwise, use the Risk Treatment Schedule and Plan
template provided at the Bounce Fitness site.
Submit the updated Risk Treatment Schedule and Plan to your assessor.
You must also submit evidence of implementation of risk treatment. This can include:
▪ Evidence of communication/consultation to key personnel and/or stakeholders
▪ Evidence of workplace training conducted
▪ Copies of instructions provided to relevant stakeholders on how to implement the
specific action item (e.g. instructions for proper handling of equipment)
You must also submit, as supplementary evidence, copies of the organisational policies and
procedures for risk treatment implementation.

51




Instructions:
Your assessor will review your submissions against the checklist below. This section is to be
completed by your assessor.
The learner has completed the Short Answer Questions in this workbook ✔
Short Answer Questions ◻
The learner has completed the Practical Assessments in this workbook and has ✔
submitted all the required evidence:
Task 1: Establish the Risk Context and Research Risks
Partially-completed Risk Management Report with Annexures for: ◻

▪ Extracts of organisational processes, procedures, and
requirements related to risk management.
▪ Copies of sources of research to identify risks that apply to
scope.
Evidence of stakeholder communication ◻

Specify evidence submitted:
Supplementary evidence ◻
Task 2: Consult with Stakeholders to Identify Risks That Apply to Scope
Evidence of presentation of researched risks to stakeholders ◻

Video recording of the presentation ◻

Only if direct observation is not possible.

53

Updated Risk Management Report ◻

Task 3: Analyse Risks and Develop Risk Treatment Schedule and Plan
Risk register ◻
Partially-completed Risk treatment schedule and plan ◻
Task 4: Consult with Stakeholders to Confirm Risk Analysis and Treatment

Plan
Evidence of presentation of risk analysis and risk treatment schedule ◻

and plan to stakeholders
Video recording of the presentation ◻

Only if direct observation is not possible.
Updated Risk Management Report (including Risk Register and Risk ◻

Treatment Schedule and Plan as annexures)
Evidence of communication of the updated Risk Management Report ◻

to at least two relevant parties
Task 5: Implement and Monitor Risk Treatment Plan
Updated risk treatment schedule and plan ◻
Evidence of risk treatment implementation ◻

Copies of the organisational policies and procedures for risk treatment ◻

implementation.

55


Recording

Record of Assessment
Instructions:
This section is to be completed by your assessor.
Assessment Details
Learner
Course Code
Unit of Competency BSBOPS504 - Manage business risk
Assessor Name
RTO
Needs more
Assessment Activity Satisfactory
evidence
Short Answer Questions
Short Answer Question 1 ◻ ◻

57

Needs more
Assessment Activity Satisfactory
evidence
Task 1: Establish the Risk Context and Research Risks ◻ ◻
Task 2: Consult with Stakeholders to Identify Risks That Apply

◻ ◻
to Scope
Task 3: Analyse Risks and Develop Risk Treatment Schedule

◻ ◻
and Plan
Task 4: Consult With Stakeholders to Confirm Risk Analysis and ◻

◻
Treatment Plan
Task 5: Implement and Monitor Risk Treatment ◻ ◻
Needs more
Context Details Satisfactory
evidence
◻ ◻
◻ ◻
◻ ◻
◻ ◻
◻ ◻
◻ ◻

Supervisor/Observer Verification Log
Supervisor/Observer
Supervisor/ Role in the Contact Date of
verifies the learner’s
Observer Name Assessment Details Contact
submissions
◻ Yes ◻ No
◻ Yes ◻ No
◻ Yes ◻ No
◻ Yes ◻ No
Assessor’s Comments
Remarks/feedback
Details of further evidence required

59

Please tick the appropriate box. Yes No
Comments and further action required are noted in the Learner

◻ ◻
Assessment Pack
Results discussed and agreed to by the learner

◻ ◻
You have the right to appeal the outcome of your assessment.
◻ Competent
The learner is ◻ Not Yet
Competent
Assessor’s signature Date signed
I further confirm that I have verified the learner’s submissions by contacting the learner’s
supervisor and/or observer whose names appear in the Supervisor/Observer Verification Log
above.
After reassessment, the Learner is: ◻ Competent ◻ Not Yet

Competent
Assessor’s signature Date signed

Learner’s Comments
The signature confirms that I have submitted all my own work, and agree with the assessment
decision and feedback.
Learner’s signature Date signed

61

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Learner Assessment Pack

Precision Group (Australia)

© 2021 Precision Group (Australia)

BSBOPS504 - Manage business risk (Release 1)

This resource has been developed for Precision Group (Australia)

Copyright Notice Copying for Educational Purposes

These terms are subject to the conditions prescribed under the

BSBOPS504 - Manage business risk (Release 1)

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the time of publication.

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Version Control & Document History

Date Summary of modifications Version

22 February 2021 Version 1 produced following assessment validation. 1.0

BSBOPS504 - Manage business risk (Release 1)

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BSBOPS504 - Manage business risk (Release 1)

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Learner Assessment Pack

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6 Learner Assessment Pack Produced 22 February 2021

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Each Learner Assessment Pack is made up of four parts:

BSBOPS504 - Manage business risk (Release 1)

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BSBOPS504 - Manage business risk (Release 1)

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Steps for Learners

BSBOPS504 - Manage business risk (Release 1)

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BSBOPS504 - Manage business risk (Release 1)

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Resources Required for Assessment

● Context and scope of the organisational risk management process based on

● Federal and/or state/territory legislation and regulations relating to business

● Risk Management Report

BSBOPS504 - Manage business risk (Release 1)

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● Conduct a meeting with at least two stakeholders to assist in identification

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Accessing Intranet Pages

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Please tick at least one of the following for each section: ✔

Other (please describe) ◻

Assessment Pathway (for Practical Assessment)

Learner’s Organisation (Pre-assessment meeting conducted) ◻

Simulated Workplace Environment (Contextualised by RTO) ◻

BSBOPS504 - Manage business risk (Release 1)

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Legislation, regulations, standards and codes relating to risk management ◻

Workplace documentation and resources relating to risk management. ◻

End of Assessment Agreement