NZQA registered unit standard
18509 version 4
Page 1 of 3
Title
Demonstrate knowledge of risk management in an organisation
Level
4
Purpose
Credits
6
People credited with this unit standard are able to demonstrate
knowledge of risk management in an organisation, in terms of
AS/NZS ISO 31000: 2009 Risk management – Principles and
guidelines.
This unit standard is for people who have or seek foundation
knowledge and understanding of risk management principles
and processes that are generic to multiple contexts, and who
may intend to progress with higher level application of risk
management principles.
Classification
Business Operations and Development > Organisational
Direction and Strategy
Available grade
Achieved
Explanatory notes
1
Unit standards in the Organisational Direction and Strategy domain are about
analysing influences, determining strategies for an envisioned future, and enabling
the alignment of the organisation to achieve that future.
2
Activity associated with this unit standard, including assessment evidence identified in
the evidence requirements, must be in accordance with the AS/NZS ISO 31000: 2009
Risk management – Principles and guidelines standard, available from Standards
New Zealand at www.standards.co.nz.
3
Definitions
Organisation refers to a business entity which may be – in private, public, or community
and volunteer sectors; a business unit, Māori, or other special-purpose body.
Definitions of risk and other specialist risk management terms are in AS/NZS ISO
31000: 2009 Risk management – Principles and guidelines and associated
companion documents available from Standards New Zealand at www.standards.co.nz.
4
Legislation and regulations
Assessment materials must reflect relevant and current legislation, standards,
regulations, acknowledged industry and/or business practices, policies and
procedures, and specific legislation relevant to an organisation;
Health and Safety in Employment Act 1992; and amendments and replacement
legislation;
Privacy Act 1993;
Standards Act 1988.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
5
18509 version 4
Page 2 of 3
References
AS/NZS ISO 31000: 2009 Risk management – Principles and guidelines
AS/NZS 5050: 2010 Business continuity – Managing disruption-related risk
SAA/SNZ HB327: 2010. Communicating and consulting about risk
SAA/SNZ HB89: 2013. Risk management – Guidelines on risk assessment
techniques
RiskNZ website http://www.nzism.co.nz/.
Outcomes and evidence requirements
Outcome 1
Demonstrate knowledge of risk management in an organisation.
Evidence requirements
1.1
The purposes of applying a risk management process in an organisation are
described in terms of AS/NZ ISO 31000:2009 Risk management – Principles
and guidelines.
1.2
The principles that underpin risk management are explained in terms of AS/NZ
ISO 31000:2009 Risk management – Principles and guidelines.
Range
1.3
Potential causes and consequences of risk are identified and explained in terms
of AS/NZ ISO 31000:2009 Risk management – Principles and guidelines.
Range
1.4
potential causes and consequences of risk may include but are not
limited to – technical, people, reputation, operational,
organisational, legal, financial;
five different causes and the consequence(s) of each.
Steps in the risk management process in an organisation are described and
explained in terms of their components, and of AS/NZ ISO 31000:2009 Risk
management – Principles and guidelines.
Range
1.5
eleven principles.
all steps of the process, and maintaining a record of activities;
proposed communication and consultation with stakeholders.
The elements associated with the assembly of a risk management plan in the
organisation are identified and explained in terms of their purpose and of AS/NZ
ISO 31000:2009 Risk management – Principles and guidelines.
Range
elements in the plan may include but are not limited to – goals,
method, roles and responsibilities, risk analysis process and/or
tools and/or techniques, documentation and risk register, risk
categories, risk thresholds, communication, audit, budget;
evidence of five elements.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
Planned review date
18509 version 4
Page 3 of 3
31 December 2020
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
30 July 2001
31 December 2012
Rollover and
Revision
2
18 March 2011
31 December 2014
Review
3
15 November 2012
N/A
Review
4
17 March 2016
N/A
Consent and moderation requirements (CMR) reference
0113
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact NZQA National Qualifications Services nqs@nzqa.govt.nz if you wish to
suggest changes to the content of this unit standard.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016