Who Should Attend:

• CEOs, CFOs & Financial Controllers
• Business Development Managers
• Project & Risk Management Professionals

Course Objectives

• Understand the importance of implementing a risk management strategy
• Learn how to maximise organisational growth and profitability using the risk management process
• Familiarity with an effective framework and process for the management of risk
• Obtain specific techniques to identify, assess, manage and monitor risks
• Explore methods used to plan and implement risk management actions
• Practice the use of risk management tools and techniques
• Identify how to use risk management to ensure compliance with corporate policies and governmental regulations.

What will you gain?

• Understand the significance of risk management and how it can help an organisation succeed in its objectives
• Identify actual requirements for the implementation of proper risk management
• Discover and address common roadblocks that hamper the effective management of risk
• Ascertain the amount of risk that the organisation can endure before reaching irreparable loss
• Recognise all kinds and causes of risk exposure that is typically faced by an organisation
• Use tried and tested techniques to analyse and assess the risks identified for timely decision-making
• Create action plans to manage any immediate and/or high level risks, and take the necessary corrective measures
• Document and organise sensitive risk related information in risk registers
• Become better equipped in monitoring and controlling risk, as well as, communicating risk results with management and organisational stakeholders
• Devise and implement a corporate strategy that mitigates and manages the impact of risk on the business while ensuring compliance with governmental regulations.

Course Content

• The need for risk management and its benefits to the business
• Importance of the effective identification, assessment and management of risk
• Definition of a risk
• Difference between risks, issues and assumptions
• Requirements for effective risk management
• Barriers to effective risk management; and how to address them

• Scope and intensity of risk management
• Degree of risk tolerance considered acceptable to the organisation
• The risk management process
• Roles and responsibilities in risk management
• Documents and products used in risk management

• Types and categories of risks present in specific business areas
• Methods of capturing the relevant risks and how to use them
• Describing risks to enable effective risk analysis
• Identifying the causes of risks
• Classifying identified risks to aid analysis
• Identifying residual risk that remains after existing business controls have been taken into account

• Three business reasons for analysing risk
• Risk analysis to convert the risk statements into decision making information
• Risk analysis process
• Establishing criteria for determining probability & severity of impact, for risk assessment consistency
• The Risk Assessment Matrix
• Determining overall risk level; high, medium or low

• Risk management action planning, focusing on high level risks
• The five major types of actions for managing risks
• Examples of the five major types of actions for managing risks

• Purpose of recording risk details in a Risk Register
• Details to include in the Risk Register
• Importance of allocating an owner for each risk
• Responsibilities of the risk owner, and the support they require
• Using the Risk Register for monitoring and controlling risks
• Updating the Risk Register

• The steps and actions involved in monitoring and controlling risk
• Limit Testing Method to monitor and control medium and low level risks
• Frequency of monitoring and controlling risks
• Communicating risk monitoring results with key staff and stakeholders
• Managing stakeholders perceptions
• Tracking changes in risks

• Recording of closure or passing of risk on the Risk Register
• Recording of action taken to mitigate and manage the risk
• Capturing lessons learned from risk management for use in future risk management.