This unit describes skills and knowledge required to manage business risks in a range of contexts across an organisation or for a specific business unit or area in any industry setting. The unit applies to individuals who are working in positions of authority and who are approved to implement change across the organisation, business unit, program or project area. They may or may not have responsibility for directly supervising others. No licensing, legislative or certification requirements apply to this unit at the time of publication.

This unit describes the skills and knowledge required to develop and implement a recognition strategy that may be used for recognition of current competencies against workplace or industry criteria, or recognition of prior learning (RPL) leading to completion of units of competency or qualifications. It requires the ability to prepare information and advice on recognition, to identify evidence-gathering opportunities and to evaluate a recognition-based assessment process. It also requires that all systems and instruments be validated by peers, industry or employers to determine fitness for purpose. It applies to those who work under limited supervision to develop procedures and documentation for recognition-based assessment for an organisation. No licensing, legislative or certification requirements apply to this unit at the time of publication.