Assessment Task 1 Instructions

Provide answers to all of the questions below:

1. In a short sentence for each, explain the meaning of these terms:

 Risk.
 Risk management.
 Risk appetite.
 Risk capacity.

2. Define and identify the purpose and the key elements of AS/NZS ISO 31000:2009

3. Outline five benefits of risk management.

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 4. Identify and describe three general areas of risk for a business.

5. Write three examples of tools or techniques and explain how they can be used to identify risks
as part of a risk assessment process.

6. Identify and describe three sources of information that can be used to gather information on
potential risks within the workplace.

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 7. Identify and describe the key steps involved in a risk management process.

8. Identify 10 ways to control and minimising risk.

9. Identifyand explain the requirements under WHS legislation to manage risks.

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 10. What is the purpose of auditing risk within an organisation?

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