An organisation may be a single entity be part of a

An organisation may be a single entity, be part of a franchise, have branches
nationwide or be part of an international network. All organisations should have
a set of policies and procedures that govern the way they operate in accordance
with relevant legislation and industry codes of practice, and a business plan that
outlines their goals, objectives, strategies, responsibilities and resourcing in both
the short and long term. The planning should include a risk management process
that identifies and prepares contingencies for dealing with risks likely to affect
their operations.
BSBRSK501 – Underpinning Knowledge
Assessment
Version: 2.1 – June 2020
RTO No. 5493
CRICOS Provider No. 02919C
Federation Technology Institute Pty Ltd trading as Federation Technology Institute
ABN: 72 070 984 002 ACN: 070 984 002
P a g e | 13

OFFICE USE ONLY:
S NYS Assessor to indicate how this professional judgement was made:
QUESTION 8
Briefly explain why risk management policies and procedures should be periodically reviewed.
OFFICE USE ONLY:
S NYS Assessor to indicate how this professional judgement was made:
QUESTION 9
Outline six (6) organisational policies, procedures that should be reviewed when establishing
risk context.
1. Security procedures
2. Confidentiality policy
BSBRSK501 – Underpinning Knowledge
Assessment
Version: 2.1 – June 2020
RTO No. 5493
CRICOS Provider No. 02919C
Federation Technology Institute Pty Ltd trading as Federation Technology Institute
ABN: 72 070 984 002 ACN: 070 984 002
P a g e | 14

3. Contracts
4. Safety procedures
5. Training
6. PPE
OFFICE USE ONLY:
S NYS Assessor to indicate how this professional judgement was made:
QUESTION 10
Explain the link between the context of risk and the scope of the management process.
BSBRSK501 – Underpinning Knowledge
Assessment
Version: 2.1 – June 2020
RTO No. 5493
CRICOS Provider No. 02919C
Federation Technology Institute Pty Ltd trading as Federation Technology Institute
ABN: 72 070 984 002 ACN: 070 984 002
P a g e | 15

OFFICE USE ONLY:
S NYS Assessor to indicate how this professional judgement was made:
BSBRSK501 – Underpinning Knowledge
Assessment
Version: 2.1 – June 2020
RTO No. 5493