Manage business risk

Self-Study Guide

BSBOPS504 Manage business risk
























About this document

This document is to be used as a self-study guide at home/in your own time to complement the formal learning you are doing as part of your classroom or online studies. It is a requirement of your course that you complete the activities in this guide.

You will need to take your notes/completed activities to class, or follow your trainers direction about how to complete activities.

If you are unsure about anything, talk to your trainer/assessor.

Self-study Guide
Unit code and title BSBOPS504 Manage business risk
Instructions You are to complete each of the self-study tasks below. Each activity is a mandatory part of your study. After completing each of the tasks, tick the box below to show that you have completed the activity and bring evidence of this to class to share.








Activity Task

Expected time

Watch & research Watch one of the videos from the RTO Works video series:

Risky business

Conduct your own research to answer the following questions:

What is a risk management framework?

How can a business take on risks in a healthy way?

Why is risk management important?

2 hours

Practical activity Identify and manage a potential WHS risk. Examine the hypothetical risk and develop a plan. Use the following questions as prompts:

What is the risk?

How can you communicate the risk to the necessary audience?

What is the likelihood and consequence of potential outcomes?

What are the potential solutions?

How will the solution be implemented?

Does the solution align with legislation, policies and procedures?

4 hours

Research Research an example of poor risk management.

What were the repercussions? How could this have been avoided? How were risks monitored and managed – could there have been a better strategy? Take notes to share in class.

3 hours

Review Review your assessment requirements for this unit and read through your Project Portfolio so you know what you will be required to do. Make sure you review your Student Guide if you need to revisit some areas of your training. Ask your trainer any questions before you begin your assessment to ensure you understand all of the learning and are ready to be assessed.

3 hours

Reflection Reflect on the following:

Information learned during your training

Your main key “takeaways” from this unit

What did you learn that you didn’t know already? How can you apply this in your study/work/life?

What did you find challenging or confronting? How did you overcome these challenges or barriers?

2 hours