Manage risk

BSBRSK501 Hawthorn

Aims and objectives

How you will benefit

  • Learn how to define risk and risk management
  • Describe the COSO ERM cube and ISO 31000
  • Establish a risk management context
  • Learn the 7 R’s and 4 T’s that form the framework of risk management activities
  • Design and complete a basic risk assessment
  • Determine the appropriate response to risks and create a plan for those responses
  • Describe the key components of reporting, monitoring, and evaluation of a risk management program

What will be covered

  • Understanding risk
  • Risk management activities
  • Assessing risk
  • Responding to risks
  • Resourcing controls
  • Reaction planning
  • Reporting and monitoring
  • Reviewing and evaluating the framework