I have assignment to answer following question as attached in the document.

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Student Assessment Task
BSBOPS504 Manage business risk
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Student Name:     
Student Number:
Contents
Introduction    3
Assessment Task 1: Knowledge questions    4
Assessment Task 1: Checklist    8
Assessment Task 2: Project    9
Assessment Task 2: Checklist    15
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Flinders International College V.1
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BSBOPS504 Manage business risk
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17
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Introduction
The assessment tasks for BSBOPS504 Manage business risk are outlined in the assessment plan below. These tasks have been designed to help you demonstrate the skills and knowledge that you have learnt during your course.
Please ensure that you read the instructions provided with these tasks carefully. You should also follow the advice provided in the Business Works Student User Guide. The Student User Guide provides important information for you relating to completing assessment successfully.
Assessment for this unit
BSBOPS504 Manage business risk describes 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.
For you to be assessed as competent, you must successfully complete two assessment tasks:
· Assessment Task 1: Knowledge questions – You must answer all questions co
ectly.
· Assessment Task 2: Project – You must work through a range of activities and complete a project portfolio.
Assessment Task 1: Knowledge questions
Information for students
Knowledge questions are designed to help you demonstrate the knowledge which you have acquired during the learning phase of this unit. Ensure that you:
· review the advice to students regarding answering knowledge questions in the Business Works Student User Guide
· comply with the due date for assessment which your assessor will provide
· adhere with your RTO’s submission guidelines
· answer all questions completely and co
ectly
· submit work which is original and, where necessary, properly referenced
· (
i
)submit a completed cover sheet with your work avoid sharing your answers with other students.
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Assessment information
Information about how you should co
mplete this assessment can be found in Appendix

A

of

the

Business

Works

Student

Use

Guide
.

Refe

to

the

appendix

fo

information

on:

where this task should be completed

the maximum time allowed for completing this assessment task

whether or not this task is
open-book
.
Note
: You must complete and submit an assessment cover sheet with your work. A

template is provided in Appendix C of the Student User Guide. However, if y
our RTO

has provided you with an assessment cover sheet, please ensure that you use that.
)
Questions
Provide answers to all of the questions below:
1. Explain the risk management process. You may answer using a labelled diagram or in words (or both) and must include:
· a definition of risk management.
· a list or illustration of the steps in a risk management process.
· a description of what each step involves.
2. Describe a cu
ent risk management standard. In your answer:
· name the standard.
· explain the purpose of the standard.
· list key elements of the standard.
3. Complete the table below to describe the types of business risk.
    Type of risk
    Description
    Example
    Key responsibility
(at least two people)
    Strategic risk
    
    
    
    Complianc e risk
    
    
    
    Financial risk
    
    
    
    Operational risk
    
    
    
4. Complete the table to explain three different tools and techniques that may be used to identify risk. The first row has been completed as an example for you to follow.
    Technique/tool
    Description
    Brainstorming
    A group discussion to produce as many ideas or solutions to problems in a pre-determined amount of time.
    
    
    
    
    
    
    
    
    
    
5. Explain four options that a company could use to take to control risks.
6. Explain how legislation and its related regulatory requirements relate to risk management. In your answer:
· identify two different legislative and regulatory requirements that may apply to risk management.
· for each legislative requirement, explain how it relates to risk management.
· provide one example of how regulations support one of the legislation.
7. Explain the purpose of risk management policies and procedures in the workplace as they relate to risk management.
8. Complete the table below to summarise how three policies and procedures relate to risk management.
    Policy/procedure
    Description
    Record keeping policy and procedure
    
    WHS policy and procedure
    
    Confidentiality policy/procedure
    
Assessment Task 1: Checklist
    Student’s name:
    Did the student provide a sufficient and clear answer that addresses the suggested answer for the following?
    Completed successfully?
    
Comments
    
    Yes
    No
    
    Question 1
    
    
    
    Question 2
    
    
    
    Question 3
    
    
    
    Question 4
    
    
    
    Question 5
    
    
    
    Question 6
    
    
    
    Question 7
    
    
    
    Question 8
    
    
    
    Task outcome:
    · Satisfactory        Not satisfactory
    Assessor signature:
    
    Assessor name:
    
    Date: