Byron Employment

Byron Employment. Over 71,438 Jobs Australia Wide.

Delivery Method

  • Online
  • Price: $220.00

Overview

Risk management is one of the most critical areas in business management. Prioritising treatment of risks requires solid analytical ability and judgement. Identify how risk provides opportunities that a business can exploit to its advantage.

Identify Risk and Apply Risk Management Processes will provide frontline managers with the tools necessary to achieve a continuous risk management process, with successful risk management treatments that are responsive and flexible.

Objectives

On successful completion of this course, you will be able to:

  • Identify risk and categorise according to influencers, stakeholders, project stage and control.
  • Use a Risk Register to document risks from initial identification through to project closure.
  • Analyse causes of risk and identify the impact of risk events.
  • Prioritise risk treatment using a combination of analysis and graphical presentation tools.
  • Use hierarchy of control model to select the most appropriate risk treatment.
  • Evaluate risk treatments against measures of success, monitor the risk management process and implement improvements.

Duration

2-4 weeks (nominal)

Prerequisites

As part of the formal assessment process, you will be required to produce workplace based evidence, gathered over a period of time, to demonstrate consistent application of the skills you have learnt in a workplace environment. Please ensure your current situation will enable you to produce the required evidence before enrolling.

Comments

This unit is aligned with a national competency and can lead to the award of a nationally recognised Statement of Attainment.

There are a number of components to this unit:

1) The online training courses
2) Formal Assessment

The Statement of Attainment can build towards the national qualification BSB41004 – Business (Frontline Management) AQFIV and other potential qualifications. The formal assessment is competency based. This means that, in addition to completing the online unit, you will be required to complete a set of tasks or produce a 'portfolio of evidence' which shows how you can effectively apply the skills you learn in a workplace setting. These will then be sent to an authorised assessor for assessment.

Components

BSBCMN416A /01 Identify Risks (Weighting - 20 %)

Risk identification can be challenging because it requires thinking that may be seen as detrimental to a project. Good risk identification requires ‘negative thinking’ because you are looking for potential problems. This can be seen as at odds with the ‘can-do’ attitude often expected in business today.

On successful completion of this component, you will be able to:

  • Identify risks using formal and informal risk identification tools.
  • Categorise risks and enhance analysis and treatment.
  • Document risks from initial identification through to project closure using risk register.

BSBCMN416A /02 Analyse and Evaluate Risks (Weighting - 20 %)

Not all risks are equally significant. Good risk identification can lead to hundreds, perhaps even thousands, of risks coming to light. It is rarely prudent to formulate treatment plans for all identified risks. You need a way to separate the risks that are really significant and deserve attention, from those that are trivial and can be ignored. This is where risk analysis and evaluation comes in.

On completion of this component you will be able to:

  • Analyse causes of risk using diagrammatical and brainstorming techniques.
  • Identify and document the impact of risk events.
  • Analyse risk using qualitative techniques.
  • Prioritise risk treatment using a combination of analysis and graphical presentation tools.
  • Understand the importance of risk ownership and allocate risk management accordingly.

BSBCMN416A /03 Treat risks (Weighting - 20 %)

Some types of risks can be completely eliminated by making changes in the organisation or project. Other risks cannot be eliminated, but their impact can be significantly reduced through various controls. Further risks may not be able to be controlled, but planning for their eventuality may mean that more carefully considered action is taken if the risk arises. Each of these approaches will produce a better result than going without a risk management strategy.

On completion of this component you will be able to:

  • Understand the five main risk treatment strategies for handling risk.
  • Analyse and select the appropriate risk control measures.
  • Implement formal and informal risk monitoring measures to identify the risk triggers.
  • Select the most appropriate treatment using a hierarchy of control model.
  • Document a treatment plan defining how risk monitors and controls are to be implemented to treat particular risks or risk events.

BSBCMN416A /04 Monitor and Review Risk Treatments (Weighting - 20 %)

Once the risk management cycle of; risk identification, risk analysis and risk treatment is complete, you will want to review your performance. If you are monitoring the effectiveness of risk treatments for an ongoing project or business activity, then you will use the results to improve those treatments. If this is the end of a project then reviewing the effectiveness of risk treatments allows you to inform future projects or ventures. This will make risk management of new projects more efficient and successful.

On completion of this component you will be able to:

  • Evaluate risk treatments against measures of success.
  • Monitor the risk management process and implement improvements for a project or business activity.

BSBCMN416A Formal Assessment (Weighting - 20 %)

This training module should be undertaken by students wishing to receive a Statement of Attainment for the unit 'Identify Risk and Apply Risk Management Processes (BSBCMN416A)'.

This Statement of Attainment is a nationally recognised award which can build towards the qualification in Business Services (Frontline Management).

As part of this process, participants will be required to complete a set of tasks or produce a 'portfolio of evidence' which shows how you can effectively apply the skills you learn in a workplace setting. These will then be sent to an authorised assessor for formal assessment. Once you are deemed competent, you will be issued with a Statement of Attainment for this unit.

Note: Weight is the percentage that each component contributes towards the final result. 

CLICK HERE TO
BOOK THIS COURSE NOW!
WANT MORE INFO?
CALL OR
CLICK HERE TO ENQUIRE

Search Courses

Quick Job Search