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Business Risk Management Workshop

Overview

Course duration: 1 day.

The consequence of poor risk management in a business cannot be over stated. We only have to look at what has happened to some organisations recently. Certainly awareness of risk has increased as we currently live in an unstable economic and political environment.

The purpose of this risk management one-day workshop is to provide managers with a solid understanding of business risk management and how to manage them.

Is it right for me?

The workshop is likely to be particularly relevant to people responsible for areas such as business processes, operational, project and programme risk.

Senior project and programme managers will also benefit from this event.

Delegates with practical experience of managing major change or using programmes/projects approaches will derive the greatest benefit from this course.

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Learning Objectives

By the end of this course, you will be able to:

  • Provide a framework & process for the management of risk
  • Appreciate the need for the management and review of risk
  • Understand a variety of techniques to identify, assess, manageand monitor risks
  • Recognise the importance of planning and implementing an identified risk management plan
  • Appreciate the barriers and benefits of good risk management

Course Content

What will it cover?

Awareness of Risk Management

  • Definition of what constitutes a risk.
  • The need for risk management and its benefits to the business.
  • The risk management process.
  • Importance of the effective identification, assessment and management of risk.
  • Requirements for effective risk management roles and responsibilities in risk management.
  • Benefits and barriers to effective risk management and how to address them.
  • How risk management fits with your every day management.

The Key Elements of Risk Management

Understanding the Risks to your Business, Project or Programme and How to deal with them

Identifying All Realistic Risks

  • Methods of capturing all types of relevant risks
  • Identifying the causes of risks
  • Describing each risk in a way that enables the effective analysis of the risk

Assessment of Identified Risks

  • Understand why there is a need to analyse risk either qualitatively or quantitatively
  • How analysis of each risk converts the statement of the risk into decision making information
  • Consistent approach to the assessment of each risk and the use of a risk assessment matrix

Response Planning For Identified and Analysed Risks

  • Areas of risk management response plans for identified risks, in order to have an effect on the probability or their impact.
  • Selection of an appropriate risk response strategy dependant on the importance of the risk and the cost benefit of the response
  • The responsibilities of the owner of each risk and the behaviours exhibited

Documentation and Management of the Risks

  • The purpose of recording these details for each risk and the documents used during risk management
  • The details for each risk that need to be included in a risk register
  • Recording of action taken to mitigate and manage the risk
  • How a risk register is used in the monitoring and control of each risk
  • How risk management fits with your every day management
  • Communicating the results of monitoring the risks with key staff and stakeholders

Closure of Each Risk

  • Recording of closure of risk in the Risk Register
  • Capturing of learning from the management of risks for future use in managing other risks

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