BSBRSK501B - Manage Risk - 2016

To enrol in this unit, you must be accepted into a course from the provider. Read before you start

Unit summary


  • Level of Study: Vocational Education, Training
  • Study load: 0.059 EFTSL
  • Delivery method: Fully Online
  • Prerequisites: No
  • Duration: 13 weeks
  • Government loans available: VET FEE-HELP
  • Availability for 2016: SP3
  • Assessment: Journal - Competency only , Report (100%)

Unit provided by

2016 Fees
Domestic 560.00
International 810.00

This unit describes the performance outcomes, skills and knowledge required to manage risks in a range of contexts across the organisation or for a specific business unit or area. The unit has been designed to be consistent with AS/NZS 4360:2004 Risk management. No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.

At the completion of this unit you will be able to:

  1. establish risk context
  2. identify risks
  3. analyse risks
  4. select and implement treatments.
  • Journal — Competency only
  • Report (100%)

There are no prerequisites for this unit.

  • Audio/Visual equipment — Including: Headset with Microphone
  • Broadband access — System requirement: Windows 7 / Vista / XP / MAC OS x 10.5 or 10.6

In order to enrol in this unit, you must be accepted into one of the following courses:

Please visit the course details page and read the Requirements tab for more information about eligibility.

This unit addresses the following topics.

1Review organisational processes, procedures and requirements for undertaking risk management
2Determine scope for risk management process
3Identify internal and external stakeholders and their issues
4Review political, economic, social, legal, technological and policy context
5Review strengths and weaknesses of existing arrangements
6Document critical success factors, goals or objectives for area included in scope
7Obtain support for risk management activities
8Communicate with relevant parties about the risk management process and invite participation
9Invite relevant parties to assist in the identification of risks
10Research risks that may apply to scope
11Use tools and techniques to generate a list of risks that apply to the scope, in consultation with relevant parties
12Assess likelihood of risks occurring
13Assess impact or consequence if risks occur
14Evaluate and prioritise risks for treatment
15Determine and select most appropriate options for treating risks
16Develop an action plan for implementing risk treatment
17Communicate risk management processes to relevant parties
18Ensure all documentation is in order and appropriately stored
19Implement and monitor action plan
20Evaluate risk management process

This unit is delivered using the following methods and materials:

Instructional Methods

  • Blogs
  • Chat rooms
  • Discussion Forum/Discussion Board
  • E-Portfolios
  • Embedded Multimedia
  • Glossary
  • Online Quizzes/Tests
  • Online assignment submission
  • Podcasting/Lecture capture
  • Standard Media
  • Streaming Multimedia
  • Web links
  • Wikis

This unit is a core requirement in the following courses:

This unit may be eligible for credit towards other courses:

  1. Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
  2. In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Co-Op textbook list.
This unit does not have a prescribed textbook(s).

Enquire online

Need to ask a question that's best put down in words?
Make an online enquiry.

Enquire now

Ready to enrol?

Start studying this unit now.


Got a question?

Get an answer from one of our friendly Student Advisors.