Risk analysis and management
Duration: 2 days
Category: Organisation
Risk analysis and management
Risks in today’s world are complex. Larger supply chains, customer and shareholder expectations, technology and compliance need to be managed to achieve the best outcomes. Risk management is therefore essential and necessary skills for managers and within all organizations.
Many companies have dedicated risk management functions for that very reason. Risk analysis and management training is an effective way to keep those functions up to date. When organizations don’t have a separate risk function, this course is a cost effective way to learn practical risk management tools and techniques.
Program content
This program guides participants to analyze a portfolio of risks from their own working environment, use the techniques mentioned before to determine impacts and control mechanisms and to prepare a comprehensive risk management plan for any risks they might face and discovering different approaches to identify, assess, and quantify risks and their impacts.
The foundation for these activities are the Risk Management Policies in your organisation. The applications and implications of this policy will lay the groundwork for the steps in coming to an effective risk management planning for each participant within their everyday work.
Day 1: And now we see: Understanding risk and the risk management framework
Part 1: Risk Management Overview
- Key Risk Terminology
- Risk Management Process
- Risk Stakeholders
- Establishing a Risk Culture
Part 2: Plan Risk Management
- Risk Management Planning
- Scalable Planning Methods
- Stakeholder Risk Tolerance
- Probability and Impact Scales
- The Risk Register
- Risk Management Plan
Part 3: Identify Risks
- Identifying Risks
- Risk Identification Tools & Techniques
- Writing Risk Statements
Day 2: We come prepared: Controlling risk and risk decision making
Part 4: Qualitative and Risk Analysis
- Perform Qualitative Risk Analysis
- Probability and Impact
- Risk Probability and Impact Assessment
- P x I Matrix
Part 5: Quantitative Risk Analysis
- Perform Quantitative Risk Analysis
- Decision Analysis and Support
- Analyzing Cost and Schedule Risk
- Monte Carlo Simulation
Part 6: Control Risks
- Control Risk
- Risk Monitoring Tools
- Communication of Risk Results to Stakeholders
- Risk Status Reports
- Implementation: Developing an Action Plan
How can this work for your
company and people?
This course is perfect for managers and senior professionals working in HSSE, finance, project appraisal, engineering, and more, who are dealing with the risk factors in their day-to-day activities:
- Identify and create scalable planning methods for risk management
- Apply the organizational Risk management policies
- Identify and document risks by using various techniques
- Perform qualitative risk analysis prioritizing risks for response and monitoring
- Perform quantitative risk analysis assessing risk
- Analyze risks by incorporating expected value, probability, and distribution
- Determine risk decision making strategies
- Monitor and control identified and emerging risks
- Communicate and report on risks for effective management
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