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Regulation, Licensing and Risk – Risk Management
Elements and Performance Criteria
Elements describe the essential outcomes.
Performance criteria describe the performance needed to demonstrate achievement of the element.
1. Identify risks
1.1 Identify the context for risk management
1.2 Identify risks using tools, ensuring all reasonable steps have been taken to identify all risks
1.3 Document identified risks in accordance with relevant policies, procedures, legislation and standards
2. Analyse and evaluate risks
2.1 Analyse and document risks in consultation with relevant stakeholders
2.2 Undertake risk categorisation and determine level of risk
2.3 Document analysis processes and outcomes
3. Treat risks
3.1 Determine appropriate control measures for risks and assess for strengths and weaknesses
3.2 Identify control measures for all risks
3.3 Refer risks relevant to whole of organisation or having an impact beyond own work responsibilities and area of operation to others as per established policies and procedures
3.4 Choose and implement control measures for own area of operation and/or responsibilities
3.5 Prepare and implement treatment plans
4. Monitor and review effectiveness of risk treatment/s
4.1 Regularly review implemented treatment/s against measures of success
4.2 Use review results to improve the treatment of risks
4.3 Provide assistance to auditing risk in own area of operation
4.4 Monitor and review management of risk in own area of operation