BSBRSK501:
Manage risk
Participant Assessment
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Scenario
Read the scenario below, and provide a detailed response to how you may handle or resolve the situation within the scenario based on your knowledge and skills. If answers are being simulated, make it as real as possible to workplace settings.
The trainer at Upskilled, a training company, has her laptop stolen from an interstate restaurant where she was conducting a dinner meeting with clients. The laptop contains nearly 4 weeks of data that had not been backed up. This is a significant loss of a large amount of personal information regarding clients and business opportunities. In addition to this loss, the trainer is now without use of a laptop and still has much client work to conduct. As a result of this loss, Upskilled undertakes a risk management process and decides to implement an action plan to ensure all identified risks are minimised.
Develop a detailed action plan with
a) A policy to reduce the likelihood of this occurrence happening again.
b) 3 procedures to mitigate (minimise) the possible consequences, should it ever occur again. c) Include if there is any legislative or regulatory context that you need to be aware of.
Project
Read the project below, and provide a detailed response. Use as many workplace examples as possible. If answers are being simulated, make it as real as possible to workplace settings.
In order to demonstrate competence in this unit, you need to demonstrate that you plan, conduct and evaluate risk management strategies for an organisation or business. You can use your own work example or provide simulated answers.
Your task is to:
• Describe your chosen organisation’s risk management policies and procedures and make general comments on the strength and weakness of these current arrangements.
• Identify four risks in your organisation where there is a potential for having a negative impact on reaching your organisational objectives.
• Analyse and evaluate these four risks according to the likelihood of them occurring and the consequences if they did occur, i.e. provide a Risk Assessment matrix on these four risks.
• List the stakeholders for each of the risks identified and analyse the possible impact of the risk on the stakeholders. How will you communicate the changes to them?
• Prioritise the treatment of the identified risks.
• How will you monitor the implementation and effectiveness of your risk management plan?
What are the critical success factors?
• Describe how you will document your risk management strategies so that they can become part of your organisation’s policies and procedures for managing risk.
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