Risk Management Skills Training.Learn how to implement
What is Risk Management Training?
The importance of risk management can hardly be overstated. Awareness of risk has increased as we currently live in a less stable economic and political environment. The purpose of this risk management training course is to provide managers with a solid understanding of business risk and how to manage it.
This risk management training course looks at risk from different perspectives and analyses the possibilities for managing it in each situation. It focuses primarily on operational, project, and reputation risk management.
What are the objectives of Risk Management Training?
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
Course Outline
Understanding Risk Management
- The need for risk management and its benefits to the business
- Importance of the effective identification, assessment & management of risk
- Definition of what constitutes a risk
- Difference between risks, issues and assumptions
- Requirements for effective risk management
- Barriers to effective risk management and how to address them
The Five Elements of Risk Management
- Scope and intensity of risk management: Degree of application of risk management based on level of risk in the business and environment
- Awareness of degree of risk tolerance considered acceptable by the organisation
- The risk management process: The stages of the risk management process
- Roles & responsibilities in risk management
- The documents and products that are used during risk management
Identifying All Credible Risks
- Different types & categories of risks that can be present in specific business areas
- Methods of capturing all types of relevant risks for the business area, and how to use them: Prompt Lists Checklists Questionnaires Team Based Activity
- Describing each risk in a way that it enables the effective analysis of the risk: Risk statement to contain a condition and the consequence
- Identifying the causes of risks
- Classifying the identified risks in 3 classes to aid analysis
- Identifying the residual risk that remains in place for each identified risk after the existing controls in the business have been taken into account
Assessment of All Identified Risks
- How analysis of each risk converts the statement of the risk into decision making information
- Process of analyzing each risk
- Assessment of each risk
- Using a Risk Assessment Matrix
- Determining whether a risk is high, medium or low level
Action Planning For Risk Management
- Process of risk management action planning focusing on high level risks
- The five major types of actions for managing risks
Using a Risk Register
- What’s included?
- Purpose
- Allocating an owner
- Responsibilities and support
- Monitoring and controlling risk
- Updating of the contents in the Risk Register
Risk Monitoring & Control
- Monitoring and controlling each risk
- Limit Testing Method
- The frequency of monitoring & controlling risks
- Communicating the results of monitoring the risks
- Managing stakeholders perceptions
- Tracking changes in risks
Closure of Management of Each Risk
- Closure or passing of risk
- Action taken to mitigate and manage the risk
- Learning for future use
Dolphins Training & Consultants ltd
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training@dolphinsgroup.co.ke www.dolphinsgroup.co.ke
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