Assessment Requirements for SIRXRSK003 Manage risk in the retail environment

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Assessment Requirements for SIRXRSK003 Manage risk in the retail environment

Modification History

Not applicable.

Performance Evidence

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

identify and analyse one internal and one external risk for one of the following:

retail organisation

retail department

retail function

develop and implement a risk management plan for the management of one of the above identified risks, covering:

an assessment of potential impact of the risk

action to be taken to mitigate and treat the risk

review and document outcomes of the risk management plan.

Knowledge Evidence

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

organisational policies and procedures relevant to:

identifying risks

assessing risks

treating risks

risk management plans

sources of information to establish risks

regulation and compliance relevant to risk management in the retail industry

ISO 31000 - Risk management

risk identification methods:

scenario based

objective based

internal audit

environmental scanning

risk treatment options:

avoidance

reduction

sharing

retention

commercial impact of risk management both favourable and unfavourable:

reputation

fines

business closure

health risk

team morale

absenteeism

retail risks:

global risks

political

economic

social

legal

technological

consumer markets and behavioural change

regulation and compliance

cost control

brand image

supply chain and sourcing

commercial real estate

competition

security

safety.

Assessment Conditions

Skills must be demonstrated in a services industry environment. This can be:

an industry workplace

a simulated industry environment.

Assessment must ensure access to:

relevant documentation:

relevant legislation, regulations, standards and codes

organisational policies and procedures relevant to risk management as listed in the Knowledge Evidence

existing risk management plan

internal and external stakeholders with whom to consult; these can be:

individuals in an industry workplace, or

individuals who participate in role plays or simulated activities, set up for the purpose of assessment, in a simulated industry environment

Assessors must satisfy the Standards for Registered Training Organisations’ requirements for assessors.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=ca051b1b-5101-4ec2-ac1c-49699303188d