BSBRSK501 Manage Risk and Relevant Stakeholders

2.1 Using your current workplace (or a past workplace), provide the details of two areas within the business and their risk management requirements (e.g. privacy / workplace health and safety). Also list any stakeholders that would be connected to them.

Give a short description of the Business you are using for this Task:

Area of Business

Risk management requirements

Stakeholders

E.g Privacy

That all customer and staff personal information be adequately protected by security.

No personal details to be given to outside sources without written permission

Sensitive business information must remain confidential.

Customers/staff/government

2.2 Choose one of the areas from 2.1 to use for the rest of this assessment.  

Identify the scope of the workplace hazards in this area.

a. Which area of business needs to be addressed?

b. What types of hazards exist there?

c. What are two (2) individual hazards and where do they originate from?

d. How many times, on average, do specific incidents occur as a result of the hazard each month or year?

e. When, and in what circumstances, do these incidents tend to occur?

f. Who is most likely to be affected?

g. What kind of a risk to individuals does the hazard pose?

2.3a When it comes to any organizational project, all of the internal people and teams who the project will involve or affect are called its stakeholders. Complete a stakeholder analysis of the risks you are going to manage.

What stakeholders will be involved or affected?

(List at least 3)

What level of participation will each stakeholder be involved in the risk management process? (High/medium/low)

How interested do you think each stakeholder will be in the risk management process? (High/medium/low)

How much influence do you think they will have in the process?

(High/medium/low)

How will you communicate with this group during the process?

b. List the current context that the risk occurs in

Political

Economic

Social

Legal

Technological

Policy

c. What are the current arrangements for dealing with the risk?

d. What are the objectives and critical success factors for the area that you are focusing on (scope)?

Objectives

Critical success factors

2.4 For this question use the two (2) risks that you found in 2.2(c). For each risk answer;

a) The two (2) risks that you found in 2.2(c).

b) What is the likelihood of the risk happening? (for example, almost certain, likely, possible, unlikely or rare)

c) What is the consequence (impact) if they were to happen? (For example, very low/insignificant, low/minor, moderate, major/high or catastrophic/extreme)

d) Now use the risk matrix (chapter 3.2 in your learner guide) to assess the level of the risks. (For example, Low risk, high risk etc.)

To answer this task, complete the table below.