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: |
| 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
Knowledge questions are designed to help you demonstrate the knowledge which you have acquired during the learning phase of this unit. Ensure that you:
• review the advice to students regarding answering knowledge questions 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.
| 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 • the maximum time allowed for completing this assessment task • whether or not this task is open-book Note: You must complete and submit an assessment cover sheet with your work. A template is provided in Appendix C of the Student User Guide. However, if your RTO has provided you with an assessment cover sheet, please ensure that you use that. |
Questions
Provide answers to all of the questions below:
- Explain the risk management process. You may answer using a labelled diagram or in words (or both) and must include:
• a definition of risk management.
• a list or illustration of the steps in a risk management process.
• a description of what each step involves.
2. Describe a current risk management standard. In your answer:
• name the standard.
• explain the purpose of the standard.
• list key elements of the standard.
3.Complete the table below to describe the types of business risk.
| Type of risk | Description | Example | Key responsibility (at least two people) |
| Strategic risk | |||
| Compliance risk | |||
| Financial risk | |||
| Operational risk |
4.Complete the table to explain three different tools and techniques that may be used to identify risk. The first row has been completed as an example for you to follow
| Technique/tool | Description |
| Brainstorming | A group discussion to produce as many ideas or solutions to problems in a pre-determined amount of time. |
5. Explain four options that a company could use to take to control risks.
6. Explain how legislation and its related regulatory requirements relate to risk management. In your answer:
• identify two different legislative and regulatory requirements that may apply to risk management.
• for each legislative requirement, explain how it relates to risk management.
• provide one example of how regulations support one of the legislation.
7.Explain the purpose of risk management policies and procedures in the workplace as they relate to risk management.
8.Complete the table below to summarize how three policies and procedures relate to risk management.
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| Policy/procedure | Description |
| Record keeping policy and procedure | |
| WHS policy and procedure | |
| Confidentiality policy/procedure |
Assessment Task 1: Assessor Checklist
| Student’s name: | ||||
| Did the student provide a sufficient and clear answer that addresses the suggested answer for the following? | Completed successfully? | Comments | ||
| Yes | No | |||
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| Task outcome: | ¨ Satisfactory | ¨ Not satisfactory | ||
| Assessor signature: | ||||
| Assessor name: | ||||
| Date: | ||||