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Risk Management training course

Course overview:

Risk Management training course In today’s volatile and competitive work environment, it has become imperative for companies to prioritise the development of a “risk culture”. Across industries, there is a growing focus on the effective management of risks in order to create more robust and secure business ventures and economies. As a result, risk management is a flourishing field that is rapidly developing into a business discipline in its own right. 

This highly practical short course provides you with a comprehensive overview of the burgeoning field of risk management. Gain the theoretical and practical knowledge needed to identify, assess, prioritise and manage the potential risks that face a project or business.

Learn to apply this knowledge practically by creating your own risk register, which can be presented to a board of directors or upper management, or used within your own business, as a strategically beneficial document.

Course Objectives

  • The objectives of this Risk Management workshop are:
  • To appreciate the need for the management and review of risk
  • To provide a framework & process for the management of risk
  • To understand a variety of techniques to identify, assess, manage & monitor risks
  • To enable the delegates to have experience in using some of these techniques
  • To understand the importance of planning and implementing identified risk management actions
  • To understand the overall management of risk process
What you will learn?
Module 1 The concept of risk
Module 2 Risk Management frameworks
Module 3 Corporate Governance and Enterprise Risk Management
Module 4 Decisions and uncertainty: Quantitative
Module 5 Decisions and uncertainty: Qualitative
Module 6 Risk identification
Module 7 Risk assessment
Module 8 Risk response
Module 9 Organisational culture and ethical concerns
Module 10 Risk reporting 

Course Content

Day 1

1. Introduction to Risk Management

  • What Risk Management is all about
  • Pre Course Assessment
  • Scope Risks
  • Schedule Risks
  • Resource Risks
  • Plan Risk Management
  • Process Analysis
  • Five Whys to asses risk in any situation
  • Risk Breakdown Structure (RBS)
  • Risk Register
  • Perform Strategic Risk Analysis
  • Perform Tactical/Departmental Risk Analysis
  • Perform Operational Risk Analysis
  • Probability and Impact Assessment
  • Probability and Impact Chart
  • Performing Risk Cost Analysis
  •  

2. Risk Identification, Risk Assessment and Control

  • Concepts of risk assessment (RA) in environmental and Business Scene
    Principles of risk prevention: risk reduction and control

Practical risk assessment tools in the company
Practical exercises with tools such as checklists and formulas e.g. for Risk identification, Enterprise risk management, physical exposures.

Practical risk assessment tools in the company

  • Risk Response Strategies
  • Plan Risk Responses

 Day 2

Quantitative Risk Analysis

  • Expected Monetary Value
  • In decision analysis
  • Sensitivity Analysis
  • Uses in budgeting
  • Uses in scheduling

 Risk response strategies

  • Strategies negative risks
    • Avoidance
    • Transference
    • Mitigation
    • Acceptance
  • Strategies for positive risks
    • Exploitation
    • Sharing
    • Enhancing
    • Acceptance
  • Secondary risks
  • Residual risks

Writing Risk reports

  • Organizing your content for easy comprehension
  • Some useful techniques for longer documents
  • Structuring your report – standard elements and variations
  • Checklist for structure – does it support your content?
  • Avoiding writer’s block: the mindset for drafting

·         Writing agendas, minutes or meeting summaries

Want Something a Little Different?

  • Benefits of good minute taking
  • Agenda – layout and contents to facilitate minute taking
  • Layout and style of minutes
  • Preparation to take the stress out
  • Recognizing facts from chatter
  • Knowing what to include

·         Editing your work

  • A top-down approach to improving text – edit like a reader
  • Effective transitions – holding the flow of thought
  • Tips to maximize impact
  • Polishing the words – poppycock and commonly-confused words
  • Polishing your grammar and punctuation – common mistakes and things that make some people go mad
  • Spelling – using the tools
  • Infinitives
  • Proofing your work – tricks to help you see what’s really there

· General principles of writing Risk report

  • The  elements to consider when writing Risk documents

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