Unit code: L/650/5656:Principles of Risk Management

RQF Level: 7

Unit Aim

The aim of this unit is to develop learners’ understanding of legislative frameworks that contributed to design on risk assessment plans in organisations and learn the basics of ISO standards. ISO is a universally recognised international standard that provides principles and guidelines on risk management. These standards provide principles, a framework, and a process for managing risk that can be used by any organisation. The learners will become aware of the principles of the ISO standards.

Learning Outcomes and Assessment Criteria

Learning Outcomes When awarded credit for this unit a learner will:	Assessment Criteria Assessment of this learning outcome will require a learner to demonstrate that they can:
1 Understand the principles of risk management.	1.1 Define risk in the context of an organisation. 1.2 Explain risk management in the context of an organisation. 1.3 Evaluate the risk management process in three stages in an organisational context 1.4 Evaluate the significance of effective risk management. 1.5 Evaluate the effectiveness of risk management strategies .
2 Understand legislative frameworks that influence risk management decision-making in an organisation.	2.1 Analyse the legislative factors that influence risk assessment considerations for health and safety. 2.2 Evaluate the impact of relevant legislation, legal factors and regulatory bodies on health and safety in an organisation. 2.3 Assess the role and importance of the legislative framework on risk management in an organisation.
3. Understand the extent and implications of risk management standards.	3.1 Assess the scope of relevant ISO standards in an organisation. 3.2 Analyse the focal points of ISO Standards harmonisation programmes and their impact on an organisation. 3.3 Analyse the application of ISO standards in managing risks in an organisation.