COURSE OVERVIEW:
A risk is the possibility of incurring misfortune or loss; hazard at risk vulnerable.
Risk is unavoidable. Like the proverbial death and taxes, it’s one of the few things in life that’s inevitable. All businesses, whatever their size and shape, whatever markets they operate in and whatever products or services they provide, are constantly faced with a multitude of risks, large and small. Indeed, businesses can only prosper by successful risk taking.
In our own businesses we need to strike the correct balance between risk and potential reward; to maximise our upside risk and minimise our downside risk. To succeed we need to manage risk appropriately, not to try to eliminate or avoid it, as, in any case, that simply isn’t possible. It’s therefore essential that we understand the major risks to our business operations to enable us to manage them to our advantage.
Some risks are so minor as to be insignificant, whereas others have the potential to seriously affect our business’s continued well-being. So it’s important to understand the likelihood and the potential consequences of our own particular risks, and to take sensible, cost-effective mitigation measures for the more significant ones.
This course will help you to do just that, leading you through the process in a straightforward, no-nonsense way.
It will help you to identify and manage your risks in a number of areas, such as strategy, day-to-day business operations, financial control, capitalising on potential business opportunities, launching new products or services, expanding or changing the shape of your business and managing projects, to name just a few.
It will guide you through the various stages of assessing and mitigating your risks without blinding you with pseudo-science, techno-speak or jargon.
It will provide you - the business owner, director, departmental manager or project manager, who presumably doesn’t have the time or inclination to be a full-time risk manager - with a simple, straightforward and effective risk management system.
One that deals with the basics and avoids some of the complexity and non-essential ‘padding’ that comes with many risk management systems.
The end result is a very simple, but above all usable, process that can be applied to the real world that the vast majority of business managers inhabit.
LEARNING OUTCOMES:
By the end of this course, you will be able to understand:
· What is meant by risk management?
· The benefits of effective risk management
· What is a risk?
· The “will never happen to us” approach
· How everyone of us is an intuitive risk manager?
· Why we need to balance the opportunities?
· The uses of risk management
· The risk management process
· How to identify the risks?
· The strategic risks, the operational risks, the financial/commercial risks, the regulatory/compliance risks, the health & safety risks, the personnel risks, the technology risks and the project risks
· How to quantify our risks?
· The likelihood and impact of risks
· How to assess and rate our risks?
· The risk matrix
· The significant risks
· How to address our risks?
· The risk response options
· How to identify countermeasures?
· How to implement countermeasures?
· The residual risk
· The risk register
· How to monitor and review the results of the risk mitigation measures?
· How to join it all up?
· The risk appetite
Creating a culture of risk awareness in the organisation
COURSE DURATION:
The typical duration of this course is approximately 2-3 hours to complete. Your enrolment is Valid for 12 Months. Start anytime and study at your own pace.
COURSE REQUIREMENTS:
You must have access to a computer or any mobile device with Adobe Acrobat Reader (free PDF Viewer) installed, to complete this course.
COURSE DELIVERY:
Purchase and download course content.
ASSESSMENT:
A simple 10-question true or false quiz with Unlimited Submission Attempts.
CERTIFICATION:
Upon course completion, you will receive a customised digital “Certificate of Completion”.