This unit describes the skills and knowledge required to identify business risks and to apply established risk management processes to a defined area of operations that are within the responsibilities and obligations of the work role.

The unit applies to individuals with a broad knowledge of risk analysis or project management who contribute well developed skills in creating solutions to unpredictable problems through analysis and evaluation of information from a variety of sources. They may have responsibility to provide guidance or delegate aspects of these tasks to others. Risks applicable to own work responsibilities and area of operation may include projects being undertaken individually or by a team, or operations within a section of the organisation.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to apply organisational policies, procedures and processes to:

treat at least three risks by:

identifying different types of organisational risks

consulting with stakeholders to analyse and evaluate risks

implementing control measures

referring risks that are beyond own area of responsibility to others

maintaining risk management documentation.

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

legislative and regulatory context of the organisation in relation to risk management

techniques for identifying and evaluating risks

organisational policies and procedures for risk management

areas where risks are commonly identified in an organisation

risks beyond scope of individual responsibility to be referred to relevant organisational personnel

purpose and key elements of current risk management standards.

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

legislation, regulations, standards and codes relating to business risk

workplace documentation on selected organisational risks.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Business Competence – Business Operations