BSBOPS504 : Manage Business Risk Assessment (Release 1)

Assessment Tasks

For this unit you are required to complete the following assessments:

• Assessment Task 1 – Report on Risks

• Assessment Task 2 – Analyse and Treat Risks

• Assessment Task 3 – Monitor Risks and Evaluate Processes

At the end of this Learner Assessment Pack (once you have completed the above Assessment Tasks) you will be required to submit your work online where you will agree to the required student declarations.

Assessment Description

This assessment pack requires the learner to manage risk within an organisation. To complete this comprehensive assessment, the learner must complete 3 assessment tasks.

For a task to be considered satisfactory, all elements of it must be complete. On completion of the 3 tasks, the learner will demonstrate that they can:

• Establish risk context

• Identify risks

• Analyse risks

• Select and implement treatments

Introduction

Before you commence this Learner Assessment Pack, you must ensure that you have a good understanding of this subject by completing all of the learning materials, learning activities and quiz included in this unit. You must also make sure that you understand the assessment requirements – by reading this document carefully.

All students who have nominated a third party for their course must provide a completed third-party evidence collection form for this unit. You can nominate a third party here.

Download the third party evidence collection form for this unit here. Ask your nominated and approved third party to complete the form and submit the completed evidence collection form with your assessment.

Submission Requirements

All documents submitted for this assessment must:

• Be correctly named

• Be professionally presented and typed

• Have your name in the footer of each page of the document

• Include a bibliography and in text citations using the author date method for more information click here.

We recommend that you submit all assessment documents in a zipped folder. Click on the Assessments tab within the unit and use the Assessment Submission field to attach your zipped folder.

Assessment Task 1 Report on Risks

Task 1 Specifications

You must submit:

• Risk context report

• Stakeholder engagement plan

• Email to stakeholders

• Meeting agenda

• Video and consent form, participant evaluation forms and self-evaluation form (workplace only)

• Simulation with your Assessor (case study only)

• Meeting minutes

Risk Context Report

Write a report for the CEO (of Book Café Group or your own organisation) titled Risk Context Report based on your evaluation of the information to assist with determining the scope for risk management.

Your report must include:

• Provide an overview of the organisation and your role

• Identify and describe the scope of risk management process

• Identify and describe:

  • Three critical success factors

  • Two goals or objectives for areas included in the scope of your role

• Identify two internal and two external stakeholders, outline their role in the risk management process, and for each stakeholder group identify two issues or concerns they have raised.

Complete:

• An analysis of the political, economic, social, legal, technological and policy context in which the organisation operates

• A SWOT analysis to identify risks

• Describe the methods of research that you used to complete your external environment and SWOT analysis. For example, how you sourced organisational information; legislation, regulations, etc.; and any other information or research on risk that applies to the scope of your report.

• Outline a minimum of three relevant Acts, three regulations and two standards (including those at a local level, i.e. Toowoomba Council).

• Review the strengths and weaknesses of the Book Café Risk Management Framework (or your own organisation’s risk management framework) in supporting the principles and processes of risk management, set out in the risk management standard. Outline the purpose and key elements of the standard in your discussion.

• Identify and analyse risks to the organisation

Procedure for Risk Management

Outline the procedure for risk management which includes:

1. Three types of business risk which stakeholders need to be aware of

2. An option to treat each of your listed business risks

3. A flow chart of the risk management process that should be followed.

Stakeholder Engagement

• Complete a Stakeholder Engagement Plan for obtaining support from stakeholders in the risk management process using the template provided.

• After you have developed your report and stakeholder engagement plan, write an email that is intended for relevant stakeholders.

• Your email should clearly ask stakeholders for input into risk identification, include a list of risks you have identified and invite them to assist in identifying any additional risks.

• Your email should seek support for risk management activities.

Meeting Agenda

Prepare a meeting agenda to be circulated to relevant stakeholders to discuss your planned approach to managing risks.

Assessment Task 2 Analyse and Treat Risks

Task Description

For this assessment you are required to analyse the risks you identified, assess the likelihood and consequence of risks, evaluate, and prioritise risks, and determine options for treatment.

Requirements

• Review the Book Café Group (BCG) simulated business scenario information and documentation provided (or your organisation’s documentation) along with the work you have undertaken for Assessment Task 1.

• Submit screen shots of the documents and information you have reviewed in preparation for the tasks below (minimum of three types).

Meeting Agenda

• Prepare a meeting agenda to be circulated to the Board to discuss the risk analysis process and risk treatment options.

Role Play / Meeting

During the meeting you will need to:

• Provide an overview of the risk analysis process

• Provide an overview of the Hierarchy of Control

• Discuss the risk treatment options available

• Seek input regarding ideas for risk management which could be utilised or investigated further

• Apply effective communication skills to interact and clarify understanding

Risk Analysis Report

Prepare a Risk Analysis Report for senior managers. Your report must include:

• Likelihood and consequence of each identified risk

• A risk matrix to prioritise risks

• At least two suitable treatment options for each risk

• Explanation of process used to identify risks, assess likelihood, consequence and priority

• Explanation of why suggested treatment options are effective and feasible

• Process for implementing, documenting, and evaluating risk treatments

Action Plan

• Develop an action plan for implementing risk treatments.

• Draft an email to the Board to accompany your report, action plan and meeting minutes.

• Provide a screenshot of your filing of documents and describe how you have ensured documentation is appropriately stored.

Assessment Task 3 Monitor Risks and Evaluate Processes

Task Description

For this assessment you are required to review the implementation of risk management.

Task 3 Specifications

You must submit:

• Updated action plan and evidence of communication activities

• Risk management implementation report

Risk Management Implementation Report

Your report must include the following sections:

• Plan – a clear summary of the initial risk and the plan implemented to manage it

• Implementation – a summary of all actions taken to date in attempting to manage identified risks. Include supporting evidence (minimum three types).

• Outcomes – a clear statement identifying continued and/or reduced risks, with supporting tables or graphs where available

• Evaluation – a clear analysis of the effectiveness of the risk management plan by comparing the implementation with outcomes

• Recommendations – provide recommendations to improve the risk management process and the treatment of current risks

Assessment Requirements

The BSBOPS504 Manage Business Risk unit requires learners to complete three key assessment tasks:

1. Assessment Task 1 – Report on Risks

   • Develop a Risk Context Report.

   • Identify the scope of risk management, success factors, goals, internal and external stakeholders.

   • Conduct PEST analysis and SWOT analysis.

   • Review legislative and regulatory requirements.

   • Evaluate the organisation’s risk management framework.

   • Identify and analyse key risks, propose treatments, and create a flowchart.

   • Prepare a Stakeholder Engagement Plan, stakeholder email, and meeting agenda.

2. Assessment Task 2 – Analyse and Treat Risks

   • Analyse identified risks for likelihood and consequences.

   • Use a risk matrix to prioritise risks.

   • Propose treatment options.

   • Draft a Risk Analysis Report for senior management.

   • Prepare a meeting agenda and role-play discussion with stakeholders.

   • Develop an action plan and accompanying email.

3. Assessment Task 3 – Monitor Risks and Evaluate Processes

   • Update the action plan and provide evidence of communication.

   • Develop a Risk Management Implementation Report including plan, implementation, outcomes, evaluation, and recommendations.

   • Demonstrate use of evidence such as reports, emails, minutes, and risk assessments.

The assessment tests learners’ ability to establish context, identify and analyse risks, implement treatments, and evaluate ongoing risk management processes.

Mentor-Guided Step-by-Step Approach

Step 1: Understanding the Assessment Framework

The Academic Mentor first ensured the student had read the learner pack thoroughly. The mentor broke down the requirements into three clear stages: Identify Risks (Task 1), Analyse & Treat Risks (Task 2), and Monitor & Evaluate Risks (Task 3).

Step 2: Developing Task 1  Report on Risks

• Guided the student in writing an overview of the organisation (Book Café Group or equivalent workplace).

• Assisted in defining the scope of risk management and setting clear success factors and goals.

• Helped map stakeholders (internal and external) and list their concerns.

• Supported the learner in conducting a PEST and SWOT analysis, showing how each external factor links to potential risks.

• Explained how to reference Acts, Regulations, and Standards relevant to business risk.

• Reviewed the Risk Management Framework and compared it against ISO 31000 standards.

• Guided in designing a risk management procedure and flowchart.

• Helped draft a Stakeholder Engagement Plan, professional email, and meeting agenda.

Step 3: Completing Task 2 Analyse and Treat Risks

• Taught how to assign likelihood and consequence scores to risks.

• Walked the student through creating a risk matrix to rank risks.

• Assisted in formulating treatment options using the Hierarchy of Controls.

• Guided in writing the Risk Analysis Report with a professional tone.

• Supported in drafting a Board meeting agenda and conducting a role-play simulation.

• Helped in designing an action plan with timelines, responsibilities, and monitoring measures.

• Reviewed the email to the Board to ensure it was professional and clear.

Step 4: Finalising Task 3 Monitor and Evaluate

• Guided the student in updating the action plan with progress evidence (emails, minutes, reports).

• Explained how to structure the Risk Management Implementation Report with sections: Plan, Implementation, Outcomes, Evaluation, and Recommendations.

• Assisted in comparing planned vs. actual outcomes to show effectiveness of treatments.

• Helped develop recommendations for improvement in future risk management practices.

Outcomes Achieved and Learning Objectives Covered

By following the structured guidance, the student successfully:

• Understood and applied the risk management process from identification to evaluation.

• Learned to use analytical tools (PEST, SWOT, risk matrix) effectively.

• Practiced professional report writing and communication (emails, agendas, minutes).

• Demonstrated the ability to engage stakeholders in risk management.

• Produced structured documents including reports, action plans, and implementation summaries.

• Met the learning objectives of the unit by establishing risk context, identifying and analysing risks, treating them, and evaluating the processes.

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