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BSBRSK501 Manage risk

  • From Business, General Business
  • Due on 31 Aug, 2018 12:00:00
  • Asked On 13 Aug, 2018 02:14:58
  • Due date has already passed, but you can still post solutions.
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Activity 6.


Nautilus boat is a small family-owned and operated business. It operates from a marina at the month of a major river and has been operating for five years.

The business is based on:

·       Hire of eight aluminium runabouts (tinnies) to youth groups, anglers and tourists

·       Hire of two deep-sea vessels to serious anglers and scuba divers

·       Hire of fishing gear

·       Sale of bait and scuba tank refills

The business is considering an expansion that will include purchase of three houseboats for hire to families and groups of young adults.

They recently conducted a survey revealing that a significant number of clients are tourist from interstate or overseas. Most clients are once-only hires who have no knowledge of local water and wheather conditions.

As part of their business planning, the company identified the following risk to the new business offerings:

1.     People who are not strong swimmers, especially children, drowning

2.     Houseboats getting lost and/driven  on to sandbars

3.     Clients finding houseboats difficult to control—resulting in damage the houseboat and/or land structures when,for example, mooring

4.     Clients being sunburned and dehydrated on hot, sunny days

Using the information provided, describe the goals, objectives and targtes that nautilus boat hire should include their risk management plan. These are the critical success factors relevant to the safety of the new operation. (350-370)

Summative assessment 1.

Question 1.

You could be expected to outline the purpose and key element of current risk management standards. Where would you find this information and how does it link to AS/NZS ISO risk management standards? 200 words




Question 2.

Legislation and regulation from all levels of government will affect various aspect of business operations and the risk management aspect of the business. The impact of legislation and regulation will depend on business operation/ type of business, the number of staff employed, industry sector and the structure of the business.

Explain in 200-250words:

·       Why it is necessary to have a working knowledge of the legislation involved in business

·       What legislation or regulations apply to the industry area in which you work or intend to work—list and give a brief description of eight form of relevant legislation

·       How and from where you sourced this information

Make as a list of 10 forms of legislation or regulation that could have an impact on risk and that you might have to outline when communicating with employees.




Question 3.

Each organisation should have policies and procedures, grounded in the relevant legislation, in place to support their operations and various functions/ activities of the business. Risk management plans will relate to the overall operations of the organisation.

Outline the reasons why business organisation should develop risk management policies, risk registers and processes for managing risk. 250-300 words


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[Solved] BSBRSK501 Manage risk

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[Solved] BSBRSK501 manage risk

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