BSBRSK501- Risk Management Strategies & Responsibilities Company, Contract Law - Management Assignment Help

Assignment Task -                 
 

Questions

Question 1: Risk within an organization is broader than just an OH&S/WHS context. Describe what a risk is in terms of the organization or project. 

Question 2: What is the name of the standard/code that provides generic guidelines for the design, implementation, and maintenance of risk management processes throughout an organization?

Question 3: Within your organization, who is responsible for managing risk?

Question 4: Describe some common methods of researching risk. 

Question 5: Explain the hierarchy of controls – what it is and how it should be applied for risk management processes.

Question 6:  Why is it necessary to have a working knowledge of the legislation and standards involved in your area of business?

Question 7:  Noncompliance to legislation, codes of practice, and national standards is a key factor in your Risk Management strategies.  Select from the list below, 3 forms of legislation, codes, or standards that impact your organization and describe how you implement policies and procedures to ensure compliance and mitigate risk:

• duty of care

• company law

• contract law

• environmental law

• freedom of information

• industrial relations law

• privacy and confidentiality

• legislation relevant to the organization’s operations

• legislation relevant to operation as a business entity, e.g. ASIC requirements

Project

Read the project below, and provide a detailed response.  Use as many workplace examples as possible.  If answers are being simulated, make it as real as possible to workplace settings.

In order to demonstrate competence in this unit, you need to demonstrate that you plan, conduct and evaluate risk management strategies for an organization or business.  You can use your own work example or provide simulated answers.

Your task is to: 

• Describe your chosen organization’s risk management policies and procedures and make general comments on the strength and weaknesses of these current arrangements.

• Identify four risks in your organization where there is a potential for having a negative impact on reaching your organizational objectives.

• Analyze and evaluate these four risks according to the likelihood of them occurring and the consequences if they did occur, i.e. provide a Risk Assessment matrix on these four risks.

• List the stakeholders for each of the risks identified and analyze the possible impact of the risk on the stakeholders. How will you communicate the changes to them?

• Prioritise the treatment of the identified risks.

• How will you monitor the implementation and effectiveness of your risk management plan? What are the critical success factors?

• Describe how you will document your risk management strategies so that they can become part of your organization’s policies and procedures for managing risk.

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