Australian International Training Academy Pty Ltd t/a My Business College (MBC) ABN: XXXXXXXXXX CRICOS Provider Code: 03694G National Provider Code: 45368 Level 4,225 Clarence Street, Sydney, NSW 2000...

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Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 1 of 46


Student Assessment Tasks
BSBRSK501 Manage risk


Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 2 of 46
Table of Contents
Table of Contents 2
Assessment Information 3
Assessment Instructions 5
Student Assessment Agreement 7
Assessment Task 1 Cover Sheet 9
Assessment Task 1: Written Questions 11
Assessment Task 1 Instructions 15
Assessment Task 1 Checklist 17
Assessment Task 2 Cover Sheet 18
Assessment Task 2: Risk management project 20
Assessment Task 2 Instructions 23
Assessment Task 2 Checklist 28
Assessment Task 3 Cover Sheet 31
Assessment Task 3: Risk implementation project 33
Assessment Task 3 Instructions 35
Assessment Task 3 Checklist 39
Assessment Task 4 Cover Sheet 40
Assessment Task 4: Risk management process evaluation report 42
Assessment Task 4 Instructions 44
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 3 of 46
Assessment Information
The assessment tasks for BSBRSK501 Manage risk are included in this Student Assessment Tasks
booklet and outlined in the assessment plan below.
To be assessed as competent for this unit, you must complete all of the assessment tasks satisfactorily.
Assessment Plan
Assessment Task Overview
1. Written questions You must correctly answer all questions.
2. Risk management project You must prepare an initial report about risk associated with business
expansion for a case study organisation, participate in a roleplay
meeting with team members to brainstorm risks, and develop a risk
management plan the case study organisation.
3. Risk management
implementation project
You must implement and monitor risk treatments for risks identified.
4. Risk management process
evaluation report
You must evaluate the risk management process.
Assessment Preparation
Please read through this assessment thoroughly before beginning any tasks. Ask your assessor for
clarification if you have any questions at all.
When you have read and understood this unit’s assessment tasks, print out the Student Assessment
Agreement. Fill it out, sign it, and hand it to your assessor, who will countersign it and then keep it on file.
Keep a copy of all of your work, as the work submitted to your assessor will not be returned to you.
Assessment appeals
If you do not agree with an assessment decision, you can make an assessment appeal as per Queen Anne
Business College’s assessment appeals process.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with
unfairly or have other appropriate grounds for an appeal.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 4 of 46
Naming electronic documents
It is important that you name the documents that you create for this Assessment Task in a logical manner.
Each should include:
 Course identification code
 Assessment Task number
 Document title (if appropriate)
 Student name
 Date it was created
For example, BSBRSK01 AT2 Risk Management Plan Joan Smith 20/04/18
Additional Resources
You will be provided with the following resources you begin each Assessment Task.
Assessment Task 2
 Risk Management Policy and Procedures
 Risk Management Report Template
 Risk Management Plan Template
Assessment Task 3
 Customer Survey Results Memo
 Sales data analysis memo
 Staff survey results memo
 Performance review results memo
Assessment Task 4
 Risk Management Policy and Procedures
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 5 of 46
Assessment Instructions
Each assessment task in this booklet consists of the following:
Assessment Task Cover Sheet
This must be filled out, signed and submitted together with your assessment responses.
If you are submitting hardcopy, the Cover Sheet should be the first page of each task’s submission.
If you are submitting electronically, print out the cover sheet, fill it out and sign it, then scan this and submit
the file.
The Assessment Task Cover Sheet will be returned to you with the outcome of the assessment, which will
be satisfactory (S) or unsatisfactory (U). If your work has been assessed as being not satisfactory, your
assessor will include written feedback in the Assessment Task Cover Sheet giving reasons why. Your
assessor will also discuss this verbally with you and provide advice on re-assessment opportunities as per
Queen Anne Business College’s re-assessment policy.
Depending on the task, this may include
 resubmitting incorrect answers to questions (such as short answer questions and case studies)
 resubmitting part or all of a project, depending on how the error impacts on the total outcome of the
task
 redoing a role play after being provided with appropriate feedback about your performance
 being observed a second (or third time) undertaking any tasks/activities that were not satisfactorily
completed the first time, after being provided with appropriate feedback.
Assessment Task Information
This gives you:
 a summary of the assessment task
 information on the resources to be used
 submission requirements
 re-submission opportunities if required
Assessment Task Instructions
These give questions to answer or tasks which are to be completed.
Your answers need to be typed up using software as indicated in the Assessment Task Instructions.
Copy and paste each task’s instructions into a new document and use this as the basis for your assessment
task submission. Include this document’s header and footer.
If you are submitting electronically, give the document a file name that includes the unit identification
number, the task number, your name and the date.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 6 of 46
Checklist
This will be used by your assessor to mark your assessment. Read through this as part of your preparation
before beginning the assessment task. It will give you a good idea of what your assessor will be looking for
when marking your responses.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 7 of 46
Student Assessment Agreement
Make sure you read through the assessments in this booklet before you fill out and sign the agreement
below.
If there is anything that you are unsure of, consult your assessor prior to signing this agreement.
Have you read the assessment requirements for this unit?  Yes  No
Do you understand the requirements of the assessments for this unit?  Yes  No
Do you agree to the way in which you are being assessed?  Yes  No
Do you have any specific needs that should be considered?  Yes  No
If so, explain these in the space below.
Do you understand your rights to re-assessment?  Yes  No
Do you understand your right to appeal the decisions made in an assessment?  Yes  No
Student name
Student number
Student signature
Date
Assessor name
Assessor signature
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 8 of 46
Date
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 9 of 46
Assessment Task 1 Cover Sheet
Student Declaration
To be filled out and submitted with assessment responses
 I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
 I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
 I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name

Student ID number

Student signature

Date

Assessor declaration
 I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.
Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response
 My performance in this assessment task has been discussed and explained to me.
 I would like to appeal this assessment decision.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 10 of 46
Student signature

Date

A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 11 of 46
Assessment Task 1: Written Questions
Task summary
This is an open book test, to be completed in the classroom.
A time limit of 1 hour to answer the questions is provided.
You need to answer all of the written questions correctly.
Your answers must be word processed and sent to the assessor as an email attachment.
Required
 Access to textbooks/other learning materials
 Computer and Microsoft Office
 Access to the internet
Timing
Your assessor will advise you of the due date of this assessment.
Submit
 Answers to all questions
Assessment criteria
All questions must be answered correctly in order for you to be assessed as having completed the task
satisfactorily.
Re-submission opportunities
Your Assessor will provide you feedback on your performance. The feedback will indicate if you have
satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with
unfairly or have other appropriate grounds for an appeal.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 12 of 46
You are encouraged to consult with your assessor prior to attempting this task if you do not understand any
part of this task or if you have any learning issues or needs that may hinder you when attempting any part of
the assessment.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 13 of 46
Written answer question guidance
The following written questions use a range of “instructional words” such as “identify” or “explain”, which tell
you how you should answer the question. Use the definitions below to assist you to provide the type of
response expected.
Note that the following guidance is the minimum level of response required.
Analyse – when a question asks you to analyse something, you should do so in in detail, and identify
important points and key features. Generally, you are expected to write a response one or two paragraphs
long.
Compare – when a question asks you to compare something, you will need to show how two or more things
are similar, ensuring that you also indicate the relevance of the consequences. Generally, you are expected
to write a response one or two paragraphs long.
Contrast – when a question asks you to contrast something, you will need to show how two or more things
are different, ensuring you indicate the relevance or the consequences. Generally, you are expected to write
a response one or two paragraphs long.
Discuss – when a question asks you to discuss something, you are required to point out important issues or
features, and express some form of critical judgement. Generally, you are expected to write a response one
or two paragraphs long.
Describe – when a question asks you to describe something, you should state the most noticeable qualities
or features. Generally, you are expected to write a response two or three sentences long.
Evaluate – when a question asks you to evaluate something, you should do so putting forward arguments
for and against something. Generally, you are expected to write a response one or two paragraphs long.
Examine – when a question asks you to examine something, this is similar to “analyse”, where you should
provide a detailed response with key points and features and provide critical analysis. Generally, you are
expected to write a response one or two paragraphs long.
Explain – when a question asks you to explain something, you should make clear how or why something
happened or the way it is. Generally, you are expected to write a response two or three sentences long.
Identify – when a question asks you to identify something, this means that you are asked to briefly describe
the required information. Generally, you are expected to write a response two or three sentences long.
List – when a question asks you to list something, this means that you are asked to briefly state information
in a list format.
Outline – when a question asks you to outline something, this means giving only the main points, Generally,
you are expected to write a response a few sentences long.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 14 of 46
Summarise – when a question asks you to summarise something, this means (like “outline”) only giving the
main points. Generally, you are expected to write a response a few sentences long.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 15 of 46
Assessment Task 1 Instructions
Provide answers to all of the questions below:
1. Discuss the purpose of risk management standards. Include an example of a risk
management standard in your answer.
2. Outline the AS/NZS ISO 31000: 2009 Risk Management Principles and Guidelines and
each of the 11 principles.
3. Explain the requirements of WHS legislation in relation to risk management.
4. List the factors that must be taken into account in determining risk control measures for
hazardous manual tasks as stated in the model Work Health and Safety Regulations 2011.
5. Explain the purpose of risk management policies and procedures in the workplace.
6. List three examples of the impact of risks for a workplace if risks are not identified or
actioned.
7. Outline a step-by-step procedure that companies can use for analysing risks.
8. Outline three sources of information that a company could use to gather information on
potential risks.
9. Describe three examples of tools or techniques that a company could use to identify risks
as part of a risk assessment process.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 16 of 46
10. Explain four options that a company could take to control risks.
11. Explain four procedures that a company could use to minimise risk.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 17 of 46
Assessment Task 1 Checklist
Student’s name:
Did the student provide a sufficient and
clear answer that addresses the
suggested answer for the following?
Satisfactory
performance Comments
Yes No
Question 1
Question 2
Question 3
Question 4
Question 5
Question 6
Question 7
Question 8
Question 9
Question 10
Question 11
Task Outcome: Satisfactory  Not Satisfactory 
Assessor signature

Assessor name

Date

Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 18 of 46
Assessment Task 2 Cover Sheet
Student Declaration
To be filled out and submitted with assessment responses
 I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
 I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
 I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name

Student ID number

Student signature

Date

Assessor declaration
 I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.
Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response
 My performance in this assessment task has been discussed and explained to me.
 I would like to appeal this assessment decision.
Student signature

Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 19 of 46
Date

A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 20 of 46
Assessment Task 2: Risk management project
Task summary
This assessment task requires you, in the role of Operations Manager of NatureCare Products, to develop a
risk management briefing report associated with the proposed business expansion. You will then prepare for
a meeting with your team by researching risks, as well as potential risk treatment options pertaining to the
NatureCare Products business expansion project.
Following this, you will meet with your team to brainstorm risks and develop a risk management plan, which
includes an action plan to implement identified risk treatments.
This assessment is to be completed in the simulated work environment in the RTO.
Required
 Computer and Microsoft Office
 Access to the Internet to:
o research information to inform PESTLE analysis
o access publications about risk management standards such as:
http://www.finance.gov.au/sites/default/files/COV_216905_Risk_Management_Fact_Sheet_
FA3_23082010_0.pdf
 Risk Management Policy and Procedures
 Risk Briefing Report Template
 Risk Management Plan Template
 Space for a meeting, with a whiteboard, if possible.
 Roleplay participants
Timing
Your assessor will advise you of the due date of these submissions.
Submit
 Email with risk briefing report attached.
 Email to team inviting them to a meeting.
 Email with risk management plan attached.
Assessment criteria
http://www.finance.gov.au/sites/default/files/COV_216905_Risk_Management_Fact_Sheet_FA3_23082010_0.pdf
http://www.finance.gov.au/sites/default/files/COV_216905_Risk_Management_Fact_Sheet_FA3_23082010_0.pdf

Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 21 of 46
To be assessed as having satisfactorily completed this task, you are required to complete all of the activities
indicated in the instructions for students and will be assessed against the criteria included in the checklist.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 22 of 46
Re-submission opportunities
You will be provided feedback on your performance by your Assessor. The feedback will indicate if you have
satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with
unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with your assessor prior to attempting this task if you do not understand any
part of this task or if you have any learning issues or needs that may hinder you when attempting any part of
the assessment.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 23 of 46
Assessment Task 2 Instructions
Carefully read the following:
You are the Operations Manager of a medium-sized Australian company, NatureCare Products,
based in Brisbane. The company commenced business in 1996, and manufactures eco-friendly,
high quality beauty skin care products.
The business was established to cater for a growing demand for skin products that contain eco-
friendly and natural ingredients. There is also an emphasis on eco-friendly packaging. The
company makes all its products in a small factory.
The company sells its products direct to a chain of health food shops across Australia, as well as
online through its own web site. Products ordered online are shipped directly to customers from
the factory. Products provided to health food shops are provided to the health food shop
distributor who then distributes the products to all its stores. The relationship with the chain of
health food shops is a long standing one (ten years).
The company targets customers that want high quality, eco-friendly products. Market research
has identified that around 70% of their customers are professional women aged 25 to 55.
NatureCare Products’ strategic priorities focus on business diversification and growth. They aim
to increase their market share by 10%, and to expand the existing product range to attract more
customers.
At a recent board meeting, the two company shareholders and the CEO discussed options for
expanding the business, including establishing a chain of retail outlets. The idea is to initially set
up one retail outlet in central Sydney, Brisbane and Melbourne. Products will continue to be
made in the company’s factory and shipped to the retail outlets.
The CEO has asked you to investigate this, undertaking a risk analysis on establishing a chain of
retail outlets. The CEO and shareholders are keen to get the business expansion started as soon
as possible so need to get your risk management plan in place immediately.
Currently the company employs the following staff: Accounts Manager, Marketing Manager,
Marketing Assistant, Sales Manager, four customer service representatives, Office Manager and
Administration Assistant, Operations Manager, as well as the CEO and two shareholders as
indicated above.
The company currently has a Risk Management Policy and Procedures in place that
incorporates the AS/NZS ISO31000:2009 Risk Management Principles and Guidelines.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 24 of 46
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 25 of 46
Complete the following activities:
1. Develop a risk briefing report.
Review the case study information provided to you to determine the scope of the risk
management process required, as well as the company’s risk management policy and
procedures and information on risk management standards.
You should also review the recent team meeting minutes on the business expansion project to
inform your report.
Use the Risk Briefing Report Template that includes notes to guide your work.
Your report will be sent to the CEO for initial feedback and then you will meet with your team to
brainstorm further risks associated with the business expansion project.
Your report should include the following:
 Introduction, including the purpose of the risk analysis
 The scope of the risk management process, any risks that may apply to the scope, and
objectives and critical success factors for the area included in the scope
 Give also an outline of the risk management process as per the organisation’s policy and
procedure, as well as how the organisation’s process aligns with the risk management
standards as identified in the link provided to you.
 A PESTLE analysis identifying the key factors that impact on the environment in which
NatureCare Products operates and their relevance to the risk management process. You
should also use this analysis to identify important factors that may influence consumer
needs and desires as part of analysis of external stakeholders, as well as to inform the key
risks you identify below.
 You are also required to Identify at least five risks identified with the expansion, and at least
one potential risk treatment option for each of the risks you identify.
 Identification and analysis of internal and external stakeholders and the issues they may
have that are likely to impact on the risk management process.
 An analysis of the strengths and weaknesses of the company’s existing retail approach
namely, online and through health food shops.
 Analysis of critical success factors, goals or objectives for the business expansion project.
2. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite,
business-like) style.
It should provide a brief overview of the risk management project, introduce and summarise the
contents of the attachment, and seek their feedback and approval to move forward with the
project.
Attach your risk briefing report to the email.
Your assessor will send you an email in the role of the CEO, providing you with feedback and
approval to proceed.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 26 of 46
3. Send an email to your team (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate
(polite, business-like) style.
It should invite the team to participate in a meeting to brainstorm risks associated with the
company’s proposed expansion.
Your email should briefly explain the purpose of the meeting and advise of the date and time for
the meeting (your assessor will advise you of the date and time and also provide you with the
email addresses of the two students who will be your team).
The meeting is to run for approximately 30 minutes.
4. Conduct team meeting
After giving a short introduction, present to your team the risks that you have identified, as well
as the treatment measures you have selected. Refer to your Risk Briefing Report and share
your ideas, encouraging the meeting attendees to share theirs.
Steer this discussion into a brainstorming session.
Take paper and pen with you, or use a whiteboard, to jot down ideas as they are given.
At the meeting, you are required to:
 Clearly explain the risk management process as per the organisation’s policy and
procedure.
 Discuss the risks you have identified and potential risk treatments
 Seek ideas from the team about risks involved in the business expansion, as well as
treatment measures.
 Agree on the most important risks that should be included in the risk management plan, as
well as suitable risk treatments. At least five must be identified.
During the meeting, you will need to demonstrate effective communication skills including:
 Speaking clearly and concisely
 Using non-verbal communication to assist with understanding
 Asking questions to identify required information
 Responding to questions as required
 Using active listening techniques to confirm understanding
Close the meeting by thanking the participants for attending.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 27 of 46
5. Develop a Risk Management Plan
The final part of the assessment task requires you to develop the risk management plan using
the risk management plan template.
Use the Risk Management Plan Template to guide your work.
Your risk management plan should include:
 The risks you have identified based on your research and brainstorming session. You must
include at least five risks.
 An assessment of the likelihood of the risk occurring, as well as the severity of the risk
should it occur.
 Identification of at least one suitable treatment measures for each of the five risks Priority
rating (high, medium or low) to show the order in which risks must be treated.
 A risk action plan that sets out for each risk including:
o Risk description
o Impact of risk
o Recommended actions
o Resource requirements
o Timelines
o Responsibilities
o Monitoring processes
6. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite,
business-like) style.
The email text should include the following:
 Summary of the purpose of the Risk Management Plan
 An outline of the risks most likely to occur in relation to the business expansion project.
 Why you believe the identified treatment strategies for each of the risks will be effective in
ensuring risks are minimised or do not occur.
Attach your risk management plan to the email.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 28 of 46
Assessment Task 2 Checklist
Student’s name:
Did the student:
Completed
successfully
Comments
Yes No
In the risk briefing report, provide an overview of the
risk management project, including how the project
will be carried out in accordance with the
organisation’s Risk Management Policy and
Procedure, as well as how the process aligns with the
risk management standards?
In the briefing report, include the scope of the risk
management process, any risks that may apply to the
scope, and objectives and critical success factors for
the area included in the scope
In the briefing report, provide a PESTLE analysis for
NatureCare Products including identification of key
factors that impact on the environment in which
NatureCare Products operates and their relevance to
the risk management process?
In the briefing report, identify and analyse internal and
external stakeholders and the issues they may have
that are likely to impact on the risk management
process?
In the briefing report, review and describe the
strengths and weaknesses of the company’s existing
business approach?
In the briefing report, document critical success
factors, goals or objectives of the project?
In the email to the CEO, seek feedback on, as well as
obtain support for the risk management project?
Invite the team via email to participate in the
brainstorming meeting to identify risks and
treatments?
At the meeting, clearly explain the risk management
process as set out in the organisation’s Risk
Management Policy and Procedures?
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 29 of 46
Student’s name:
Did the student:
Completed
successfully
Comments
Yes No
At the meeting, seek input from the team through
brainstorming on possible risks and potential risk
treatment?
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 30 of 46
Demonstrate effective communication skills including:
 Speaking clearly and concisely
 Using non-verbal communication to assist with
understanding
 Asking questions to identify required information
 Responding to questions as required
 Using active listening techniques to confirm
understanding
In the risk management plan, document all the risks
identified through research and consultation?
In the risk management plan, determine the likelihood
of the risk occurring, as well as the severity of the risk
should it occur?
In the risk management plan, evaluate risk priority
and order of likelihood of occurring from most likely to
unlikely?
In the risk management plan, identify strategies for
the treatment or control of the risk if it occurs?
In the risk management plan, include an action plan
that includes:
 Risk description
 Impact of risk
 Recommended actions
 Resource requirements
 Timelines
 Responsibilities
 Monitoring processes?
Task Outcome: Satisfactory  Not Satisfactory 
Assessor signature

Assessor name

Date

Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 31 of 46
Assessment Task 3 Cover Sheet
Student Declaration
To be filled out and submitted with assessment responses
 I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
 I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
 I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name

Student ID number

Student signature

Date

Assessor declaration
 I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.
Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response
 My performance in this assessment task has been discussed and explained to me.
 I would like to appeal this assessment decision.
Student signature

Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 32 of 46
Date

A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 33 of 46
Assessment Task 3: Risk implementation project
Task summary
This assessment task requires you to implement a control measure from the risk management plan, as well
as monitor and report on actions arising.
This assessment is to be completed in the simulated work environment in the RTO.
Required
 Computer and Microsoft Office
 Access to the internet for research
 Customer Survey Results Memo
 Sales data analysis memo
 Staff survey results memo
 Performance review results memo
Timing
Your assessor will advise you of the due date of these submissions.
Submit
 Email with staff training report attached.
 Email to the staff members who will undergo training.
 Email with Risk Monitoring Report attached.
Assessment criteria
To be assessed as having satisfactorily completed this task, you are required to complete all of the activities
indicated in the instructions for students and will be assessed against the criteria included in the checklist.
Re-submission opportunities
You will be provided feedback on your performance by your Assessor. The feedback will indicate if you have
satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with
unfairly or have other appropriate grounds for an appeal.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 34 of 46
You are encouraged to consult with your assessor prior to attempting this task if you do not understand any
part of this task or if you have any learning issues or needs that may hinder you when attempting any part of
the assessment.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 35 of 46
Assessment Task 3 Instructions
Carefully read the following information:
Assume that one of the risks that you identified in your risk management plan was the inability to attract
sufficiently qualified and knowledgeable staff to manage the new retail stores and that the risk
treatment identified is to invest in the training and development of existing staff to fulfil this role, at least
in the short term.
It has been identified that at least two of the existing customer service representatives are interested in
taking on this new role. Neither of the two customer service representatives have managerial skills nor
knowledge, but they both have excellent company and product knowledge, as well as customer service
skills.
Complete the following activities:
1. Write a report on staff training options
Review the case study information and then research a range of potential training options for the
customer service representatives, including both on and off the job options. Identify at least
three suitable options.
Then develop a short report outlining your recommended option/s for the training, including a
rationale for each recommendation.
Include the details of each recommended training option, including a summary of the training to
be provided and outcomes, location, costs and duration as applicable.
As a guide, your staff training report should be 1 to 2 pages long.
2. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite,
business-like) style.
It should introduce and summarise the contents of the attachment, and seek their feedback and
approval to move forward with the project.
Attach your staff training report to the email.
The CEO will send you an email providing comments and approval to proceed with the training
course that they select from your report.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 36 of 46
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 37 of 46
3. Send an email to the staff members who will undergo training (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite,
business-like) style.
It should introduce and summarise the training that they will participate in. Provide all the
necessary details of the training for the staff member.
It is six months later, and you are monitoring the implementation of this risk treatment to ensure sufficient
qualified staff. Assume also that both managers participated in a formal, nationally recognised course in
management which they completed over the last six months.
You have been provided with the following information by your team, which you will use to monitor the
implementation of the action plan:
 The new Human Resources Manager has provided you with performance review information for the
two Managers, as well as a staff survey conducted to assess employee satisfaction.
 The Marketing Manager has provided you with sales analysis for the last six months, as well as a
memo about a recent customer survey.
4. Write a risk monitoring report.
In order to monitor the implementation of your action plan you are required to review the
following documents:
 Customer Survey Results Memo
 Sales data analysis memo
 Staff survey results memo
 Performance review results memo
Develop a risk monitoring report that provides a summary of the data provided to you and
document what the data shows in relation to the effectiveness of the action plan.
Identify any additional risk control measures, which you believe should be put in place as
relevant.
Your report should be 1 to 2 pages long.
5. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite,
business-like) style.
It should introduce and summarise the contents of the attachment.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 38 of 46
Attach your risk monitoring report to the email.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 39 of 46
Assessment Task 3 Checklist
Student’s name:
Did the student:
Completed
successfully
Comments
Yes No
Demonstrate the ability to implement the risk
management action plan by identifying
appropriate training programs for staff?
Demonstrate the ability to implement the risk
management action plan through advising
staff of the training that they will participate
in?
Demonstrate the ability to monitor the action
plan through reporting on the outcomes of
staff training?
Demonstrate the ability to monitor action plan
through giving recommendations on future
actions?
Task Outcome: Satisfactory  Not Satisfactory 
Assessor signature
Assessor name
Date
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 40 of 46
Assessment Task 4 Cover Sheet
Student Declaration
To be filled out and submitted with assessment responses
 I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
 I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
 I have correctly referenced all resources and reference texts throughout these assessment tasks.
Student name

Student ID number

Student signature

Date

Assessor declaration
 I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.
Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N
Feedback
Student result response
 My performance in this assessment task has been discussed and explained to me.
 I would like to appeal this assessment decision.
Student signature

Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 41 of 46
Date

A copy of this page must be supplied to the office and kept in the student’s file with the evidence.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 42 of 46
Assessment Task 4: Risk management process evaluation
report
Task summary
In this assessment task, you are required to answer a number of questions in order to evaluate the risk
management process that you completed in the last two assessment tasks.
You are also required to set up logical folders and store all the documents that they have created for this
assessment task.
This assessment is to be completed in the simulated work environment in the RTO.
Required
 Computer with Microsoft Office and access to the internet
 Risk Management Policy and Procedures
 Risk management plan developed in Assessment Task 2
Timing
Your assessor will advise you of the due date of these submissions.
Submit
 Email with risk management evaluation report and screen shot attached.
Assessment criteria
To be assessed as having satisfactorily completed this task, you are required to complete all of the activities
indicated in the instructions for students and will be assessed against the criteria included in the checklist.
Re-submission opportunities
Your Assessor will provide you with feedback on your performance. The feedback will indicate if you have
satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you
written feedback along with guidance on what you must undertake to demonstrate satisfactory performance.
Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel you have been dealt with
unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with your assessor prior to attempting this task if you do not understand any
part of this task or if you have any learning issues or needs that may hinder you when attempting any part of
the assessment.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 43 of 46
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 44 of 46
Assessment Task 4 Instructions
Complete the following activities:
1. Develop a risk management evaluation report
This assessment task requires you to evaluate and report on the risk management process that
you have completed in the previous two assessment tasks.
Review all of the following questions and prepare a short report of approximately 1 – 2 pages
that addresses each question.
A. Evaluate the overall risk management process.
 Was it easy or difficult to identify risks?
 Was staff input (at the meeting) helpful?
 How confident are you that all the risks have been identified?
B. Consider whether the process indicated in the NatureCare Products’ current Risk
Management Policy and Procedures is sufficient to guide the risk management process used for
the business expansion project. Explain why or why not.
C. Explain whether the principles of risk management in the NatureCare Products risk
management policy and procedure is consistent with AS/NZS ISO31000:2009 Risk
Management Principles and Guidance.
D. What changes would you recommend to the risk management process.
6. Take a screen shot of your folder and files associated with this assessment task, as well as
assessment tasks 2 and 3.
You are required to demonstrate that you can file all of your records in a logical structure.
Ensure that you have an overall folder for your work, as well as sub folders if necessary.
All of the documents you have submitted for this unit should be correctly named and filed, as set
out on page 3 of this document.
The screen shot should show all the folders, sub-folders and documents.
2. Send an email to your assessor.
The text of the email should be in grammatically correct English, written in an appropriate (polite,
business-like) style.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 45 of 46
It should introduce and summarise the contents of the attachments.
Attach your risk management evaluation report and screen shot to the email.
Australian International Training Academy Pty Ltd t/a
My Business College (MBC)
ABN: XXXXXXXXXX
CRICOS Provider Code: 03694G National Provider Code: 45368
Level 4,225 Clarence Street, Sydney, NSW 2000
Phone: XXXXXXXXXX
Email: XXXXXXXXXX Website: www.mbc.nsw.edu.au
Assessment tasks for BSBRSK501 Manage risk Version 1.1
Approved date: 10 May 2020 Review Date: 10 May 2022
Approved by CEO Page 46 of 46
Assessment Task 4 Checklist

Student’s name:
Did the student:
Completed
successfully
Comments
Yes No
In the evaluation report, evaluate the risk
management process by providing clear
and relevant answers to all questions?
In the evaluation report, provide
recommendations for changes to the risk
management process based on the
evaluation?
Set up logical folders and store all
documents (created and provided as par
of assessment tasks) within these
folders?
Task Outcome: Satisfactory  Not Satisfactory 
Assessor signature
Assessor name
Date
Answered 6 days AfterMay 09, 2021BSBRSK501Training.Gov.Au

Solution

Shalini answered on May 16 2021
19 Votes

22
RISK MANAGEMENT
Q1.
The risk management standards help the organizations who are carrying out the risk management process in following the guidelines that are considerably mentioned in...

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