Review organisational processes, procedures and
requirements for undertaking risk management in
accordance with current risk management standards
1.2 Determine scope for risk management process
1.3 Identify internal and external stakeholders and their issues
1.4 Review political, economic, social, legal, technological and
policy context
1.5 Review strengths and weaknesses of existing arrangements
1.6 Document critical success factors, goals or objectives for
area included in scope
1.7 Obtain support for risk management activities
1.8 Communicate with relevant parties about the risk
management process and invite participation
2. Identify risks 2.1 Invite relevant parties to assist in the identification of risks
2.2 Research risks that may apply to scope
2.3 Use tools and techniques to generate a list of risks that apply
to the scope, in consultation with relevant parties
3. Analyse risks 3.1 Assess likelihood of risks occurring
3.2 Assess impact or consequence if risks occur
3.3 Evaluate and prioritise risks for treatment
4. Select and implement
treatments
4.1 Determine and select most appropriate options for treating
risks
4.2 Develop an action plan for implementing risk treatment
4.3 Communicate risk management processes to relevant
parties
4.4 Ensure all documentation is in order and appropriately
stored
4.5 Implement and monitor action plan
4.6 Evaluate risk management process
Attachments:
BSBRSK501-Lea….pdf
