This module establishes the context of risk, identifies and analyses them, and selects and implements treatments. It cover management of risk without identifying a given industry setting.

Key contents covers the outlining and reviewing of organisational processes, procedures and requirements for risk management. It puts this into a legislative and regulatory context; and exmaines both equal employment opportunity and anit-discrimination. Other topics include:

  • Consumer protection, fair trading and trade practices
  • Employment and industrial relations
  • Environment and sustainability
  • Financial services
  • Occupational Health & Safety (OHS)
  • Privacy

The module then examines the purpose and key elements of current risk management standards and the scope and components for such processes. It moves on to consider project management and risk, internal and external stakeholders, key policy contexts, and a range of specific risk areas.

Both strengths and weaknesses of existing arrangements are assessed, as is the process of conducting a SWOT analysis. The documentation of critical factors, goals and objectives; tools and techniques which can be used, how to gain support for risk management activities; and creating a supportive work environment all find their place. Other subjects then include:

  • Team and individual approaches
  • Organisational skill mixes
  • The importance of relevant training and communication processes
  • Process charting and scenario analysis
  • Benchmarking similar organisations or actions
  • Systems flow charts and influence diagrams
  • Risk analysis, impact assessment, and prioritisation
  • The selection and implementation of treatments

Outcomes are identified, control approaches introduced, in the process of developing an action plan, and then key factors in its communication, considering elements such as diversity, language and literacy levels. The storage of information is then covered, as an action plan is implemented and then evaluated.