BSBOPS504 Manage business risk
| Student Must Fill this Section | ||||
| Qualification | BSB50120 Diploma of Business/ BSB50420 Diploma of Leadership & Management | |||
| Student Name: | ||||
| Student ID: | Term: | Year: | ||
| Privacy Release Clause: | “I give my permission for my assessment material to be used in the auditing, assessment validation & moderation Process”. | |||
| Authenticity Declaration: | “I declare that: • The material I have submitted is my own work; • I have given references for all sources of information that are not my own, including the words, ideas and images of others”. | |||
| Student Signature: | Date: | |||
| Assessment Outcome | ||||
| Assessor Name: | ||||
| Attempt | Satisfactory | Not Yet Satisfactory | Date | Assessor Signature |
| Initial attempt | | | ||
| 2nd attempt/Re-assessment | | |
| Information for Student: •All work is to be entirely of the student. |
| General Information for this assessment: • Read the instructions for each question very carefully. • Be sure to PRINT your FIRST name & LAST name in every place that is provided. • Short questions must be answered in the spaces provided. • For those activities requesting extra evidence such as: research reports, essay reports, etc. The student must attach its own work formatted in double space, Arial 12 pts. • All activities must be addressed correctly in order to obtain a competence for the unit of competency. • If the student doesn’t understand the assessment, they can request help from the assessor to interpret the assessment. • Re-submission of assessment after the term will incur additional fees. |
| Re-assessment of Result & Academic Appeal procedures: |
| If a student is not happy with his/ her results, that student may appeal against their grade via a written letter, clearly stating the grounds of appeal to the Chief Executive Officer. This should be submitted after completion of the subject and within fourteen days of commencement of the new term. Re-assessment Process: • An appeal in writing is made to the Academic Manager providing reasons for re-assessment /appeal. • Academic Manager will delegate another faculty member to review the assessment. • The student will be advised of the review result done by another assessor. • If the student is still not satisfied and further challenges the decision, then a review panel is formed comprising the lecturer/trainer in charge and the Academic Manager OR if need be an external assessor. • The Institute will advise the student within 14 days from the submission date of the appeal. The decision of the panel will be deemed to be final. • If the student is still not satisfied with the result, the he / she has the right to seek independent advice or follow external mediation option with nominated mediation agency. • Any student who fails a compulsory subject or appeals unsuccessfully will be required to re-enrol in that subject. The cost of reassessment will be borne by the Institute. The external assessor will base his/her judgement based on principles of assessment. These principles require assessment to be reliable, fair, practical and valid. Academic Appeals: • If you are dissatisfied with the outcome of the re-evaluation process, you have a right to appeal through academic appeals handling protocol. • To appeal a decision, the person is required to complete the WSC- Request for Appeal of a Decision form with all other supporting documents, if any. This form is available via our website. The completed Request for Appeal form is to be submitted to the Student Support Officer either in hard copy or electronically via the following contact details: Student Support Officer, Western Sydney College (WSC), 55 High St, Parramatta NSW 2150, Email: support@wsc.nsw.edu.au • The notice of appeal should be in writing addressed to the Chief Executive Officer and submitted within seven days of notification of the outcome of the re-evaluation process. • If the appeal is not lodged in the specified time, the result will stand and you must re-enrol in the unit. • In emergency circumstances, such as in cases of serious illness or injury, you must forward a medical certificate in support of a deferred appeal. The notice of appeal must be made within three working days of the concluding date shown on the medical certificate. • The decision of Chief Executive Officer will be final. • Student would then have the right to pursue the claim through an independent external body as detailed in the students’ complaint / grievance policy. |
Comments/Feedback to Students
Information for students
In this task, you are required to demonstrate your skills and knowledge by working through a number of activities and completing and submitting a project portfolio.
You will need access to:
• your learning resources and other information for reference
• Project Portfolio template
• Simulation Pack (if you need a case study).
Ensure that you:
• review the advice to students regarding responding to written tasks in the Business Works Student User Guide
• comply with the due date for assessment which your assessor will provide
• adhere with your RTO’s submission guidelines
• answer all questions completely and correctly
• submit work which is original and, where necessary, properly referenced
• submit a completed cover sheet with your work
• avoid sharing your answers with other students.
Students like to read:- Certificate III commercial cookery
| Assessment information | |
| Information about how you should complete this assessment can be found in Appendix A of the Business Works Student User Guide.Refer to the appendix for information on: •where this task should be completed •how your assessment should be submitted Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix B of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that. |
Complete the following activities:
1. Carefully read the following:
| This project requires you to lead one business risk process or project for an organisation or work area. As part of the assessment, you will maintain relevant organisational documentation as you: • choose a risk management process or project to work on • establish the scope of the risk management process or project • analyse information from a range of sources to establish the internal and external context of your risk management process or project • consult and communicate with stakeholders to identify, assess, treat and prioritise risks • develop and implement an action plan to treat the risks • monitor and evaluate the risk management process and action plan. | |
| Vocational education and training is all about gaining and developing practical skills that are industry relevant and that can help you to succeed in your chosen career. For this reason, we are giving you the choice to base this project on your own business, one you work in or a familiar with, or you can use the case study provided. This will mean that you are applying your knowledge and skills in a relevant, practical and meaningful way to your own situation! | |
| It is important that you are able to access enough information for your chosen business in order to be able to do your assessment. As a minimum this should include workplace documentation relating to risk management (e.g., risk management policy and procedures). You will also need data to monitor and evaluate risk management process and related action plan. | |
| You will be collecting evidence for this unit in a Project Portfolio. The steps you need to take are outlined below. |
2.Preparation
| Make sure you are familiar with the organisation you are basing this assessment on and have read through the necessary background information. For the case study business, this is all of the documents included in the Simulation Pack. If it’s your own business or a business where you are working or are familiar with, have your business or case study approved by your assessor. Choose an appropriate risk management process or project and complete Page 4 of your Project Portfolio for this unit. Read through the requirements of Section 1, 2 and 3 of your Project Portfolio. |
3. Establish the risk context
| Complete Section 1 of your Project Portfolio. To do this, you need to: | |
| • determine the scope of your chosen risk management process/project • evaluate organisational requirements and standards for managing risk • determine the legal requirements of your risk management process/project • list resources available to address risk • establish objectives and critical success factors of the risk management process/project • identify stakeholders who will be part of the risk management process. • communicate with at least two stakeholders to: o explain the risk management process/project o invite stakeholders to help identify and assess risk. | |
| This communication can take place in any appropriate format (e.g. draft email, telephone conversation recording, video of meeting etc.) as long as it adheres to organisational policy and procedures. If you are basing this assessment on your own business, and your organisation’s policies require oral communication, you may interact with actual people who work for the business, or your assessor or classmates may play the role of the stakeholders. For the case study, refer to the internal communication policy and procedures for further guidance. | |
| • analyse the external environment of the risk management process/project. • establish the strengths and weaknesses within your business that have the potential to create or impact risk. | |
| Make sure you have answered all questions in Section 1. Submit to your assessor for review. You are also required to attach certain documents as part of your evidence – review the documents you need to attach as outlined in Section 1 of the Project Portfolio and make sure you attach these when you submit this section. You will use the work done in this section of the Portfolio to consult with stakeholders to assess and address risk. |
4.Identify and analyse risk
| Complete Section 2 of your Project Portfolio. To do this, you need to: | ||
| • plan to discuss risks with invited stakeholders. | ||
| Make sure you are ready to use the tool/technique identified in your planning and the risk scale identified at the end of step 3. | ||
| • Meet with at least two of the stakeholders you identified as part of Section 1 of your Project Portfolio Consult with stakeholders to: o use an appropriate tool/technique to identify at least three risks within the scope of your risk management process/project. o establish at least two potential outcomes for each risk. o assess risk using an appropriate scale. o discuss treatment options for each risk. o prioritise risks. | ||
| This meeting should take 20 minutes. As part of your consultation, you are required to negotiate and use questioning and listening techniques to elicit opinions and confirm/clarify your understanding. You will be assessed on this. This meeting may take place with actual people who work for/are associated with your chosen business. Alternatively, classmates or your assessor may play the role of one or more team members. This can either be viewed in person by your assessor or you may like to video record the session for your assessor to watch later. Your assessor can provide you with more details at this step. Make sure you follow the instructions above and meet the timeframes allocated. If this session is not viewed in person by your assessor, you will attach proof of the meeting to Section 2 of your Project Portfolio. | ||
| • summarise the outcomes of the meeting and assess likelihood and impact/severity of the risk. • research the risks to find out more about them. • use digital technology to document risk (e.g. a risk register using MS Excel). | ||
| Make sure you have answered all questions in Section 2. Submit to your assessor for review. You are also required to attach certain documents as part of your evidence – review the documents you need to attach as outlined in Section 2 of the Project Portfolio and make sure you attach these when you submit this section. You will use the work done in this section of the Portfolio to consult with stakeholders to create an action plan for one of your risks and then monitor and evaluate the plan and your risk management process/project. | ||
5. Implement and monitor risk treatment
| Complete Section 3 of your Project Portfolio.To do this, you need to: | |
| • complete an action plan for one of the risk treatments in the risk register • communicate the action plan to relevant stakeholders. | |
| This communication can take place in any appropriate format (e.g. draft email, telephone conversation recording, video of meeting etc.) as long as it adheres to your organisational policy and procedures and the instructions in the Project Portfolio. If you are basing this assessment on your own business, and your organisation’s policies require oral communication, you may interact with actual people who work for the business, or your assessor or classmates may play the role of the stakeholders. For the case study, refer to the internal communication policy and procedures for further guidance. Use verbal communication to communicate the action plan (e.g. either via telephone call, video conference or face-to-face meeting). This should take 5 minutes. Classmates or your assessor may play the role of the stakeholders. Role-plays can either be viewed in person by your assessor or you may video record the session for your assessor to watch later. Your assessor can provide you with more details at this step. Make sure you meet the timeframes allocated. If this session is not viewed in person by your assessor, you will attach proof of the meeting to Section 2 of your Project Portfolio | |
| • follow organisational policy and procedures to implement one step of your action plan (e.g. do research, request quote). | |
| If you are using the case study business, assume that one step in your action plan is to request quotes for RPA systems for invoice capturing. This may for example be through a chat functionality on a website, or drafting an email to a sales representative of an AI business. | |
| • maintain your risk management documentation to indicate completion of the step (e.g. mark a step in your action plan as completed). | |
| If your organisation’s policy and procedures do not specify how to maintain risk documentation, assume that action plans must be updated to show completion of each action/process or task (as per the Simulation Pack Internal communication policy and Procedure). | |
| Assume a period of time has passed. If you are basing this on your own business, make sure you have data available to monitor and evaluate the risk management process/project and its associated action plan. If you are basing this on the case study, information is provided in the Simulation Pack. | |
| • monitor and evaluate the action plan and risk management process/project • write a report on the outcomes of the evaluation. | |
| Make sure you have answered all questions in Section 3. You are also required to attach certain documents as part of your evidence – review the documents you need to attach as outlined in Section 3 of the Project Portfolio and make sure you attach these upon submission. |
6. Submit your completed Project Portfolio
| Make sure you have completed all sections of your Project Portfolio, answered all questions, provided enough detail as indicated and proofread for spelling and grammar as necessary. Remember to submit all necessary attachments as indicated. |
Assessment Task 2: Assessor Checklist
| Student’s name: | |||||
| Did the student: | Completed successfully? | Comments | |||
| Yes | No | ||||
| Establish the risk context by: • determining the scope of their chosen risk management process/project • evaluating organisational requirements and standards for managing risk • determining the legal requirements of their risk management process/project • listing resources available to address risk • establishing objectives and critical success factors of the risk management process/project • identifying stakeholders who will be part of the risk management process • communicating with at least two stakeholders to: o explain the risk management process/project o invite stakeholders to help identify and assess risk • analysing the external environment of the risk management process/project (political, economic, social, technological and policy) • establishing the strengths and weaknesses within the business that have the potential to create or impact risk? | |||||
| Identify and analyse risk by: • Consulting with stakeholders to: o use an appropriate tool/technique to identify at least three risks within the scope of the risk management process/project o establish at least two potential outcomes for each risk o assess risk using an appropriate scale o discuss treatment options for each risk o prioritise risks • summarising the outcomes of the meeting • assessing likelihood and impact/severity of the risk • researching the risks to find out more about them • documenting risk using digital technology (e.g., risk register)? | |||||
| Implement and monitor risk treatment by: · • completing an action plan for one of the risk treatments in the risk register communicating the action plan to relevant stakeholders • implement the action plan • maintain risk management documentation • monitor and evaluate the action plan and risk management process/project • write a report on the outcomes of the evaluation? | |||||
| Demonstrate effective oral communication skills, including: • Uses listening and questioning techniques to confirm that you understand the views of others correctly • Negotiate with stakeholders about risk management process and outcomes? | |||||
| Task outcome: | ¨ Satisfactory | ¨ Not satisfactory | |||
| Assessor signature: | |||||
| Assessor name: | |||||
| Date: | |||||