Course Overview
Risk management helps identify and analyze potential issues that could arise during a project or process. Risk analysis is used to reduce the impact of a negative event, evaluate whether there are more benefits to a project than risks before initiation, plan the company’s response to emergencies or other adverse events and eliminate risks during a process.
Risk analysis is a valuable and practical decision-making tool, as it allows you to identify the potential benefits and risks of each option, evaluate the likelihood of risks occurring and decide whether to move forward.
Once you have identified potential risks, you can determine how to best manage them. Risk analysis can help teams improve the decision-making process. Team members can identify risks that could arise during a project and offer alternatives. This helps design and develop a comprehensive preventative plan.
Course Objectives
Upon completing this Risk Management Course, participants will be able to:
- Learn how to encapsulate Risk Management methodology and principles in their respective organizational environments
- It will also encourage insight into the primary risk control measures adopted within generic organizational scenarios
- Discover how to assimilate risk management prerequisites into the organizational culture with a view to developing a risk-averse proactive risk culture
- Learn and practice how to consistently and constructively manage risk to deliver on all your organization’s relevant primary objectives
- Recognize how to spot and avoid common errors when reviewing existing risk management plans
- Acquire an understanding of the principles, procedure and protocol pertaining to the implementation of Risk Management methodology including its potential and impact
- Display knowledge and understanding of the main sources of Risk Management methodology and how it is used to streamline organizational efficiency and simultaneously optimize value extraction
- Identify and critically evaluate the main weaknesses of procedure and protocol pertaining to current Risk Management methodology in your organization
- Understand the practical impact of applying Risk Management principles in your organization
- Understand the roles, functions and responsibilities of various actors, organizations, and institutions in the Risk Management genre
Who Should Attend?
This Risk Management Course would be best suited for:
- Risk Management Professionals – Executive Managers, Change Management staff, Organizational Development staff, Business Process Re-engineering consultants, human resources personnel and public servants who want to deepen their expertise in this specific issue
- All individuals whose responsibilities include the implementation of risk management plans especially for the improvement of broader organizational strategic objectives
Course Outline
MODULE 1: INTRODUCTION
- History
- Approach
- Principles
- Philosophy
- Values
- Link and Association between Risk Management and Strategic Planning
- Understanding the nexus between Risk Management, Project Management, Budgeting & Strategic Planning
MODULE 2: GENERAL RISK MANAGEMENT
- Risk Oversight
- Risk Integration
- Organization wide risk perspective
- Influencing
- Potential
- Context
- The intercept between Risk Management, Strategic Planning & Budget (Case Study)
MODULE 3: ACTUARIAL APPROACH TO RISK
- Actuarial Assessment
- Statistical Risk Assessment
- Analytical Capability
- Scenario Planning
- Actuarial Risk Assessment Focus
- Actuarial risk assessment instruments
- Risk Projection & Planning
MODULE 4: PRINCIPLES OF RISK MANAGEMENT
- Identification of Risk
- Risk Control
- Risk Financing
- Claims Management
- Contingency Planning
- Risk Evaluation
MODULE 5: ANALYSIS OF RISK
- Definition of Uncertainty Levels
- Uncertainty Impact Assessment
- Exploring Partnerships
- Risk Analysis Modelling
- Risk Results Analysis
- Market measurement and management
- Operational and integrated risk management
- Case Study: Contextualizing and adapting Risk Management: A systemic approach
MODULE 6: CONTROL OF RISK
- Potential loss reduction
- Proactive risk control
- Risk Reduction
- Risk Elimination
- Hazard substitution
- Hazard isolation
- Case Study: Risk Hazard Matrix Compilation (An Integrated Approach)
MODULE 7: RISK MANAGEMENT PRACTICE
- Systemic Risk
- Strategic Risk
- Financial Risk
- Operational Risk
- Case Study Construction: Risk Mapping Reality
- Risk Assessment Review
- Monitoring and Evaluation: Contingency Planning