BSBRSK501 Task1 set 1
BSBRSK501 Manage Risk
Assessment Task 1 – Assignment
1. Define risk management. Explain how the seven steps of the risk management process as outlined in the international Standard for risk management ( 31000:2018) might apply in your own workplace or CIBT. ( are available in Moodle for your analysis).
1) Establishing the context
Now, this is the first and foremost step of the risk management process. In this step, the establishment of the context is done. This includes things like planning the remainder of the process.
2) Identifying the risks or threats
Now once the context is established, the next step of the process in which the risk is managed so that the potential risks can be identified.
3) Assessment of the risks
Now after the risks are identified, they are assessed on the basis of their potential severity of loss and on the number of times they have occurred which is the probability of occurrence.
4) Potential risk treatment
Now after the identification and the assessment of the risk has been done, and then comes the managing of the risks.
5) Creating the plan
Now to create a plan the first thing one needs to do id to decide on the various combination of methods that can be used for every risk individually.
6) Implementing the risk management plan
After all of the plans are followed successfully, and then comes the final step which is the implementation of the plan.
7) Review and the evaluation of the plan
Now initially it is seldom seen that the risk management plans are perfect. While the plan is being executed it is always possible to make necessary changes in the plan on the basis of practices, losses, and experiences.
2. Describe how your workplace or one with which you are familiar applies the following:
i) Duty of care
The Act also specifies that in determining whether a worker failed to take reasonable care, ‘regard must be had to what the employee knew about the relevant circumstances’.
ii) Environmental law
This is the body...
iii) Privacy and confidentiality
Privacy and confidentiality policy applies to all staff to provide consistent standards to ensure that employees are aware of and acknowledge the obligations to protect the personal information and other confidential information under the custody and control of the organisation and to which employees have access to while performing their role.
iv) Access and equity to risk management processes and resources for people with a disability
3. Why is it important to gain support for risk management activities? Explain how you might approach this in your organization or CIBT.
It is important to gain support for risk management activities within organization because of following reasons:
– Keeps organizational values and policies within circle of current laws and policies of state.
Helps to manage and reduce risk by developing strategies and risk control methods.
Helps in decision making process, finding weakness within organization and determining strengths.
4. Why is it important to communicate risk management processes? Prepare a template for a communications plan that could be used in your workplace or CIBT.
Risk Communication is an important tool for disseminating information and understanding about a risk management decision. This understanding and information should allow stakeholders to make an informed conclusion about how the decision will impact their interests and values.
5. Why is it important to prioritise risks? Describe the steps you might follow when prioritising risks.
Ranking or prioritizing hazards is one way to help determine which hazard is the most serious and thus which hazard to control first. Priority is usually established by taking into account the employee exposure and the potential for accident, injury or illness.…...
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