Course Title: Manage business risk
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: BUSM6530C
Course Title: Manage business risk
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 530T Built Environment and Sustainability
Campus: City Campus
Program: C5415 - Diploma of Building and Construction (Building)
Course Contact: Matthew Sweeney
Course Contact Phone: +61 3 9925 4105
Course Contact Email: matthew.sweeney@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Course Coordinator
Dr. Matteo Donato
Ph. 99250527
Nominal Hours: 60
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
In this course you will develop the skills and knowledge required to manage business risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting.
The course applies to individuals who are working in positions of authority and who are approved to implement change across the organisation, business unit, program or project area. They may or may not have responsibility for directly supervising others.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBOPS504 Manage business risk |
Element: |
1. Establish risk context |
Performance Criteria: |
1.1 Evaluate organisational processes, procedures and requirements and determine scope for risk management process 1.2 Review strengths and weaknesses of existing arrangements 1.3 Document critical success factors, goals and objectives for area included in scope 1.4 Communicate risk management process to relevant stakeholders |
Element: |
2. Identify risks |
Performance Criteria: |
2.1 Invite stakeholders to assist in the identification of risks 2.2 Research risks that may apply to scope 2.3 Document risks that apply to the scope, in consultation with relevant parties |
Element: |
3. Analyse risks |
Performance Criteria: |
3.1 Assess likelihood of risks occurring 3.2 Assess impact or consequence if risks occur 3.3 Evaluate and prioritise risks for treatment |
Element: |
4. Select and implement treatments |
Performance Criteria: |
4.1 Determine and select from options for treating risks 4.2 Develop action plan for implementing risk treatment 4.3 Communicate risk management processes to relevant parties 4.4 Implement action plan according to organisational policies and procedures 4.5 Monitor and evaluate risk management process |
Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
In this course you will be undertaking work simulated environment tasks where you will be required to collaborate with your peers to formulate risk manage strategies for a given scenario. You will then develop a risk management plan that will assist you in managing risk inherent to your project.
Teaching and learning will be through.
- Interactive on-line sessions
- In class collaborative activities
- Independent research and role play
ession/Date |
Theme |
Assessments |
|
Date: Week ending 16/02/2024 |
Lesson Title: Introduction to Unit Description: This week we will cover a basic overview of risk and quality. We take a closer look at risk and establish the groundwork for collaboration between stakeholders. You will also be asked for form groups to establish a ‘Team Charter’ for your group. This will assist you the consultation process that you will be doing throughout this unit and will be a requirement for Assessment 1 and 3 |
In class task establishing a team charter Assessment 1 – Risk management process discussed in class |
|
Date: Week ending 23/02/2024
|
Lesson Title: Context of the organisation
Description: This week we look how our operational process impact on the risks we inherit.
We consider an organisations strengths and weaknesses and how we can use them to determine the resources needed to ensure that the organisation can be successfully managed.
There is an in-class activity that you will need to complete for this week. |
You will be asked to submit your team charter for review by your teacher.
Conduct a SWOT analysis of your group and a PESTLE analysis of the industry as it stands today Assessment task 1 and also give you some insight into assessment task 3 |
|
Date: Week ending 01/03/2024 |
Lesson Title: The project and management responsibilities Description: This week we look the project and project management. We determine how we allocate responsibilities to the project team and other key stakeholders to ensure that processes are implemented, followed and managed correctly. We also unravel the risk management process and look at how we identify, assess and treat risk.
|
In class task as well as allocated class time to work on assessment 1 |
|
Date: Week ending 08/03/2024 |
Lesson Title: Risk management approach Description: Risk management approach is about how we tackle inherited risk determine risk controls and create a Risk Management Plan. This week we consider how best to manage the risks we inherit and endeavour to reduce their impact on the business and the project |
In class task as well as allocated class time to work on assessment task 1 |
|
Date: Week ending 15/03/2024
|
Lesson Title: Prioritising and implementing. Description: This week we will look at establishing using information that we gather to priorities the management of risks. We must consider that we don’t have the time or resources to manage and control every potential risk that can emerge, hence we need to consider what we will need to focus on and where the resources will be allocated. |
In class task as well as allocated class time to work on assessment 1 |
Labour day Monday 11/03/2024 |
No teaching or assessment will occur on labour Day. Additionally, RMIT staff will not be available during this time. If you need to contact them, please email them via your student email account, and they will respond once they return from the break. |
|
|
Date: Week ending 22/03/2024 |
Lesson Title: Introduction to Quality Description: Introduction to quality and quality processes that need to be applied in order to achieve customer satisfaction and organisational objectives. Quality processes are significant within the context of the organisation as they need to be designed to meet the clints needs, the organisational requirements and to ensure that they address risks and manage potential risk. The way we operate will determine the organisational outcomes, hence the quality manage process will determine the level of success with the organisation. |
Assessment 1 due this Sunday 24/03/2024. In class time to review assessment 1 before submission Introduction to Assessment 2 Risk Knowledge questions |
|
Date: Week ending 29/03/2024 |
Lesson Title: Quality Management approach Description: This week we look at quality management. Quality control and quality assurance processes which are designed and implemented to keep business and project objectives on track. This week we look at Quality control Vs Quality assurance. The principles that underline a good quality management system and establish a framework to used later to create a quality plan. |
In class task as well as allocated class time to work on assessment 2 |
|
Easter Break Friday 29 March to Friday 5 April 2024 |
No teaching or assessment will occur during this time. Also, your Trainer/Assessor won't be available during this time. If you need to contact them, please email them via your student email account, and they will respond once they return from the break. |
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Census DateLinks to an external site. 3 April 2024 |
The Census Date is the last day you can withdraw from this course without financial penalty. If you need to withdraw from this course, you must do so before this date to avoid additional student fees. |
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| Important note: - we will need to complete the quality unit (wee 8 to 16) before we review and moderate all results | ||
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Date: Week ending 14/06/2024 |
Moderation/Resubmissions Please be available for any resubmissions which may be requested. This will be at the discretion of the moderation panel. |
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Kings Birthday 10 June 2024 |
No teaching or assessment will occur on the KIngs Birthday, RMIT staff will not be available during this time. If you need to contact them, please email them via your student email account, and they will respond once they return from the break. |
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Date: Week ending 21/06/2024 |
Moderation/Resubmissions Please be available for any resubmissions which may be requested. This will be at the discretion of the moderation panel. |
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Official Results Release DateLinks to an external site. TBA |
Important: It is your responsibility to check your results on this date. Your official results for this course will be released on this date. Your teacher will not inform you of your final result. It will only be available via My Student Record on RMIT's website. It is not your Trainer/Assessors responsibility to let you know your final result. Your teacher will not be available to comment on your assessment or final results until after the results have been released. After this date, you can contact them to talk about your final result if you need it. |
Teaching Schedule
One 1.5hr on-line lecture and one 2.5hr face to face tutorial.
There will also be a take home task each week handed out after the lecture for students to complete before the tutorial.
Learning Resources
Prescribed Texts
References
Other Resources
AS 31000 available from the library on-line - Australian Standards online - RMIT University Library (exlibrisgroup.com)
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral presentations and through the application of learned skills and insights to your written tasks. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
Assessment 1 Portfolio task due in week 6
Assessment 2 Knowledge questions in week 8
Assessment Matrix
Element |
Performance criteria |
AT1 |
AT2 |
1. Establish risk context |
1.1 Evaluate organisational processes, procedures and requirements and determine scope for risk management process |
1, 2, 4 |
1.1, 1.2 |
1.2 Review strengths and weaknesses of existing arrangements |
|
1.1 |
|
1.3 Document critical success factors, goals and objectives for area included in scope |
|
1.2
|
|
1.4 Communicate risk management process to relevant stakeholders |
2, 3
|
1.3, 1.5, 2.1 2.O1, 2.O3
|
|
2. Identify risks |
2.1 Invite stakeholders to assist in the identification of risks |
|
1.6 |
2.2 Research risks that may apply to scope |
1 |
1.4 |
|
2.3 Document risks that apply to the scope, in consultation with relevant parties |
1, 5 |
3, 2. O4 |
|
3. Analyse risks |
3.1 Assess likelihood of risks occurring |
7 |
2.3, 3 |
3.2 Assess impact or consequence if risks occur |
5 |
2.3, 3 |
|
3.3 Evaluate and prioritise risks for treatment |
7 |
2.3, 3 |
|
4. Select and implement treatments |
4.1 Determine and select from options for treating risks |
6 |
2.2, 3
|
4.2 Develop action plan for implementing risk treatment |
|
2.2, 3 |
|
4.3 Communicate risk management processes to relevant parties |
3 |
2.2, 3 2.O1, 2.O3 |
|
4.4 Implement action plan according to organisational policies and procedures |
|
4 |
|
4.5 Monitor and evaluate risk management process |
|
5 |
Knowledge Evidence |
AT1 |
AT2 |
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: | ||
|
1 |
|
|
2 |
2.1, 2.3 |
|
5 |
|
|
6 |
3 |
|
7 |
1.6, 2.1 |
|
2 |
|
|
7 |
1.3 |
Performance Evidence |
AT1 |
AT2 |
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: | ||
|
|
1, 2, 3, 4, 5 |
|
In the course of the above, the candidate must: analyse information from a range of sources to identify the scope and context of the risk management process, including: | ||
|
|
1.5 |
|
|
1.3 |
|
|
1.1 |
|
|
1.2 |
|
|
1.4 |
|
|
2.1,2.2, 3 2.O1, 2.O3, 2.O4 |
|
|
4 |
|
|
5 |
|
|
3, 4 |
Other Information
Credit Transfer and/or Recognition of Prior Learning (RPL):
You may be eligible for credit towards courses in your program if you have already met the learning/competency outcomes through previous learning and/or industry experience. To be eligible for credit towards a course, you must demonstrate that you have already completed learning and/or gained industry experience that is:
- Relevant
- Current
- Satisfies the learning/competency outcomes of the course
Please refer to http://www.rmit.edu.au/students/enrolment/credit to find more information about credit transfer and RPL.
Study Support:
Study Support provides free learning and academic development advice to you.
Services offered by Study Support to support your numeracy and literacy skills are:
assignment writing, thesis writing and study skills advice
maths and science developmental support and advice
English language development
Please Refer https://www.rmit.edu.au/students/study-support to find more information about Study and learning Support
Equitable Learning Services (ELS):
If you are suffering from long-term medical condition or disability, you should contact Equitable Learning Services (ELS) to seek advice and support to complete your studies.
Please refer to https://www.rmit.edu.au/students/support-and-facilities/student-support/equitable-learning-services to find more information about services offered by Equitable Learning Services (ELS).
Late submission:
If you require an Extension of Submittable Work (assignments, reports or project work etc.) for 7 calendar days or less (from the original due date) and have valid reasons, you must complete and lodge an Application for Extension of Submittable Work (7 Calendar Days or less) form and lodge it with the Senior Educator/ Program Manager.
The application must be lodged no later than one working day before the official due date. You will be notified within no more than 2 working days of the date of lodgement as to whether the extension has been granted.
If you seek an Extension of Submittable Work for more than 7 calendar days (from the original due date) must lodge an Application for Special Consideration form under the provisions of the Special Consideration Policy, preferably prior to, but no later than 2 working days after the official due date.
Submittable Work (assignments, reports or project work etc.) submitted late without approval of an extension will not be accepted or marked.
Special consideration:
Please Refer https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration to find more information about special consideration
Academic Integrity:
"Academic integrity means acting with the values of honesty, trust, fairness, respect and responsibility in learning, teaching and research."
It means referencing the work of others while developing your own insights, knowledge and ideas.
Breaches of academic integrity include:
- plagiarism and failure to correctly acknowledge sources
- contract cheating or paying/getting another person to prepare an assignment
- submitting work prepared by another person
- copying other people’s work
- cheating in exams
- breaching the Research Code
- using unauthorised materials or devices
Please Refer: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/academic-integrity to find more information about plagiarism.
All email communications will be sent to your RMIT email address and you must regularly check your RMIT emails.
Students will be able to access course information and learning materials through the Learning Hub and may be provided with additional materials in class. Lists of relevant reference books, resources in the library and accessible Internet sites will be provided where possible. You will also use equipment and software packages in the laboratory for the project work. During the course, you will be directed to websites to enhance your knowledge and understanding of difficult concepts
Course Overview: Access Course Overview