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BSBRSK501 - Manage Risk

This is the initial format of the question

TASK 1

they following document will need to be reviewed for this TASK:

• Australian Hardware Risk Management Strategy ( https://www.academia.edu/18477776/Australian_Hardware_Marketing_Plan_2013 )
• ISO31000 Risk Management Fact Sheet (https://iia.org.au/sf_docs/default-source/technical-resources/risk-management15C1DC22A0C2.pdf?sfvrsn=2)

Based on these documents, the organisation's Risk Management Strategy and identify whether the processes, procedures and requirements align with any AS/NZS ISO 31000: 2009 principles

I attached my current answer below which my trainer has marked incompetent.

How do they align to the AS/NZS ISO 31000: 2009 principles? => 150 31000 states that Australian hardware risk management will depend on the effectiveness of the management. The risk management process should be: -An integral part of management; -Embedded in the culture and practices; -Tailored to the business processes of the organization -Risk management process comprises the following activities: communication and consultation: At all stages of the risk management process, communication and consultation with external and internal Australian Hardware stakeholders should take place. risk management Establishing the context: The organisation articulates its objectives, processes defines the external and internal parameters to be considered when managing risk, and establishes the scope and risk criteria for the remaining process by establishing the context. Other Risk Management standards, such as 150 Guide 73:2009 - Risk Management Vocabulary and ISO/IEC 31010:2009, can be easily linked to 150 31000. -Techniques for assessing risk. ISO/IEC 31010 is a companion standard to 150 31000, providing guidance on the selection and application of systematic risk assessment techniques.The Australian hard risk man process use 150 31000 risk procedures as a guideline, method, logic, design, and implementation. According to ISO 31000, an organisation should apply and tailor these principles to its specific circumstances. 150 31000 is a guidance document that can be used with any product or service and is applicable to all organisations. The following are the eleven risk management procedures: 1. Risk management creates and maintains value. 2. Risk management is an essential component of all organisational processes. 3. Risk management is an important part of decision making. 4. Risk management addresses uncertainty explicitly. 5. Risk management is organised, systematic, and timely. Australian Hardware 5. Risk management is based on the most up-to-date information risk management available. procedures 7. Risk management is customised. B. Human and cultural factors are considered in risk management. B. Risk management is open and transparent. 10. Risk management is dynamic, iterative, and change-responsive. 11. Risk management facilitates the organization's continuous improvement. Many of us still consider'shall' clauses to be the foundation for process design or to demonstrate compliance. IS0 31000 is unique. It necessitates a thorough understanding of risk management and context. The design, implementation, and assurance of an effective ISO 31000 risk management process will be determined by the successful implementation of these risk management principles. It necessitates a thorough understanding of risk management and context.Australian Hardware Management of Risks Requirements define a specific set of strategic risk management processes that begin with an organization's overall aspirations and requirements objectives and aim to help identify risks and promote risk mitigation April 2019 don. 2020 FIRST CHOICE LA COLLEGE through best practice. Checkpoints and examples are typically included in requirements to make it as simple as possible for organisations to comply. The following should be among the most important requirements: 1. The purpose should not be changed, but the scope should be expanded to include all Australian Hardware employees and contractors across the country 2. Responsibility should be shared by Australian Hard Disk Management and local store managers to provide not only consultation, training, and supervision, but also to focus on maintaining a safe and healthy environment while reviewing the WHSMS procedures; identifying potential risks; developing strategies to handle the risks and use hazardous materials; reviewing specific risk control measures; and developing strategies to avoid and mitigate incidents. 3. Individual employees must not only follow health and safety policies and procedures, report risks to supervisors, protect the health and safety of colleagues, refrain from using drugs or alcohol, but they must also be able to identify hazards, assess risks and hazards, focus on resolving issues, and apply the knowledge gained during training and consultation4. The objectives and targets should be revised as well. As a result of adequately identifying risks and hazards, Australian Hard Risk Management will maintain a safe and healthy workplace. The written procedures and instructions should cover all of the stores' operations. 5. To address the risks common to all Australian Hard Risk Management stores, performance goals for lowering the rate of workplace injuries should be stated. 5. All potential hazards and risks should be identified and addressed in the plan in order to detect and manage them effectively. The design, implementation, and assurance of an effective 150 31000 risk management process will be determined by the successful implementation of these risk management procedures and risk management requirements