This unit of competency supports the work of those involved in developing, implementing and evaluating risk management systems in the property industry.

Nil

ELEMENT

PERFORMANCE CRITERIA

1Determine system requirements.

1.1 Risk management context is determined and risk management strategies are promoted to relevant people according to organisational requirements.

1.2 Relevant documentation and legislative requirements are reviewed to identify critical requirements of risk management strategy.

1.3 Resource requirements to facilitate achievement of risk management goals and objectives are identified and arranged.

1.4 Roles and responsibilities for implementation of risk management activities are established according to risk management strategy.

2Organise support processes.

2.1 Consultative processes are used to determine individual professional development requirements according to organisational requirements.

2.2 Risk management processes requiring specialist support are identified and personnel or finance support is sought as required according to organisational requirements.

2.3 Systems to encourage communication flow and feedback are established and maintained to ensure an accurate exchange of information between relevant people.

2.4 Administrative processes are analysed to ensure outcomes are accurately reported and recorded according to organisational requirements.

2.5 Assessment criteria for measuring level of potential or existing risk and assessment of consequences are developed according to terms of reference.

3Monitor and maintain system.

3.1 Risk management system is systematically evaluated to maintain consistency and meet relevant legislative and organisational requirements.

3.2 Factors affecting achievement of risk management strategies are identified, and required variations negotiated and agreed with relevant people.

3.3 Information, costs and statistics relating to risk management system are collected and analysed according to organisational requirements.

3.4 Audits for compliance for treatment of risks are undertaken according to risk management system requirements.

3.5 Changes to operating environment, and risk or threat to assets are monitored on an ongoing basis and corrective measures are identified and implemented according to risk management plan.

4Review and report on system.

4.1 Risk management plan is reviewed against established criteria in consultation with relevant people to improve and modify future risk assessment practices.

4.2 Evaluation processes incorporate strategies for review, evaluation and comparison of risk management strategies and processes, according to risk management plan.

4.3 Feedback from relevant people regarding satisfaction with risk assessment practices is collected, analysed and included in evaluation process.

4.4 Business continuity plan covering all aspects of continuity cycle is developed and provided to relevant people for comprehensive analysis.

4.5 Findings of analysis are incorporated into business continuity plan according to organisational requirements.

This section describes the essential skills and knowledge and their level, required for this unit.

Required skills:

communication skills to source and collate feedback

computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases

interpersonal skills to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities

observation skills to identify existing or potential risks

organisational skills to plan time lines and reporting mechanisms, record and file information and undertake audits

presentation skills for information sessions and briefings

problem solving skills to assess and treat risk, apply reasoning and logical analysis to measure risk consequence, and recommend countermeasures or business continuity plans

research skills to analyse and interpret information and form recommendations

technical skills to use necessary equipment to document risk management strategies.

Required knowledge and understanding:

auditing requirements

client and organisational confidentiality requirements

concepts of litigation

continuity cycle and associated aspects

insurance policies, codes and operations

mechanisms to obtain and analyse feedback

organisational goals and objectives, activities and systems

property operations' historical precedent regarding risk to operations

relevant federal and state or territory legislation and local government regulations related to:

anti-discrimination

consumer protection

environmental issues

equal employment opportunity (EEO)

financial probity

franchise and business structures

industrial relations

OHS

privacy

property sales, leasing and management

public safety

relevant industry codes of practice and standards

risk assessment techniques and processes.

Overview of assessment

This unit of competency could be assessed through practical demonstration of developing, implementing and evaluating a risk management system to ensure effective operations. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

A person who demonstrates competency in this unit must be able to provide evidence of:

maintaining required physical and human resources to support the risk management system

knowledge of organisation's practices, ethical standards and legislative requirements associated with developing, implementing and evaluating a risk management system to ensure effective operations

preparing a business continuity plan to cover emergency and disaster planning

reviewing the risk management system to identify and implement improvements

supporting staff to manage risk and implementing recovery processes where projected risks have eventuated.

Context of and specific resources for assessment

Resource implications for assessment include:

access to suitable simulated or real opportunities and resources to demonstrate competence

assessment instruments that may include personal planner and assessment record book

access to a registered provider of assessment services.

Where applicable, physical resources should include equipment modified for people with disabilities.

Access must be provided to appropriate learning and/or assessment support when required.

Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.

Validity and sufficiency of evidence require that:

competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace

where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence

all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence

where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time

assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.

In all cases where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.

Risk management context may relate to:

business operations

competitors

economic climate

human and physical assets of organisation

organisational strengths and weaknesses

previous history of organisational operations.

Relevant people may include:

agents

clients

colleagues

emergency personnel

government personnel

internal and external specialists in risk management

legal representatives

members of industry associations

OHS representatives

property owners

subcontractors

supervisors

tenants.

Organisational requirements may be outlined and reflected in:

access and equity principles and practice guidelines

complaint and dispute resolution procedures

emergency and evacuation procedures

employer and employee rights and responsibilities

goals, objectives, plans, systems and processes

legal and ethical requirements and codes of practice

mission statements and strategic plans

OHS policies, procedures and programs

policies and procedures in relation to client service

quality and continuous improvement processes and standards

quality assurance and procedure manuals

records and information systems and processes.

Documentation may relate to:

audit tools and schedules

checklists

resource lists

risk register.

Legislative requirements may be outlined and reflected in:

Australian standards

codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law

home building requirements

privacy requirements

quality assurance and certification requirements

relevant federal, and state or territory legislation that affects organisational operation, including:

anti-discrimination and diversity

environmental issues

EEO

industrial relations

OHS

strata, community and company titles

tenancy agreements

trade practices laws and guidelines.

Resource requirements may include:

briefings and information sessions

training

information in paper-based or electronic format

risk analysis tools.

Roles and responsibilities may be influenced by:

codes of conduct

job description and employment arrangements

organisational policy relevant to work role

skills, training and competencies

supervision requirements, including OHS

team structures.

Professional development requirements may relate to:

coaching, mentoring and supervising

formal and informal learning programs

identifying and establishing new career paths

updating and maintaining knowledge base on current issues for work and professional practice

using existing strengths to focus future career development

work rotation to facilitate changing work priorities.

Communication may include using channels such as:

direct line supervision paths

lateral supervision paths

organisational communication protocols and procedures

organisational networks.

Assessment criteria may be based on:

Australian Risk Management Standards

organisational or client requirements

qualitative and quantitative factors

semi-quantitative factors.

Potential or existing risk may include:

commercial and legal relationships

deliberate, natural, accidental or perceived

industry special risks

loss of goodwill, reputation or credibility

loss of profits

loss, disclosure, destruction or compromise of asset

machinery malfunction

OHS

public liability

trade practices issues

unpredictable asset performance.

Terms of reference may relate to:

agreed timeframe

client expectations

cost

limitations and exclusions

operational environment

roles and responsibilities

scale of the task or assessment (whether a full-scale operation or limited to a particular section or operation of the company)

security and other clearances.

Factors affecting achievement of risk management strategies may relate to:

availability of tools to implement system

required learning needs

resistance to change

resources.

Analysed:

may be:

explorative, descriptive, causative or predictive

quantitative and qualitative

and may include:

basic statistical analysis

critical analysis

mathematical calculations

problem solving.

Audits may be:

according to documented schedules in risk management strategy

undertaken by trained staff or external auditors.

Evaluation methods could be qualitative or quantitative and may include:

checklists

cost data analysis

expert review

interviews

observation

questionnaires

review of quality assurance data.

Feedback may include:

formal and informal discussions, reviews and evaluations with:

existing and previous clients

peers, colleagues and managers

information provided by others involved in a professional capacity, both internal and external to the organisation.

Business continuity plan may cover aspects such as:

full recovery

resilient design

resilient operations

salvage

service restoration.

Unit sector

Property development, sales and management

Property operations and development

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.