Description:

This two-day course on risk management covers an important business topic.

Risk is often seen as a threat but the same process which uncovers those threats also uncovers opportunities. The fact is that uncertainty can be positive (opportunity) and negative (threat). This alone is enough to justify its careful integration into the corporate culture. The formal management of risk is vital to the well-being of any company. Managing risk in a formal proven way provides added benefits of comparison of risks across departments. It also allows for the creation of risk lists with metrics recorded from the management of the risk the last time it was incurred. This reduces the company’s exposure to threat and maximises its opportunities.

This two-day course is intended to provide all the basic knowledge required for the application of risk. This Risk Management training course is based on current best practice, adopting a process called the PRAM Guide produced by the Association for Project Management. This is a straightforward process, easily learnt and put into practice. In the course, references are also made to other publications as appropriate. PRAM is a five point process:

• Define and Focus (linking PRAM to the business)
• Identification of Risk – many methods will be discussed
• Risk Analysis
• Risk Planning
• Risk Management

The course is built around a real case study which is pre-course reading and provides ample opportunity to understand the concepts of risk. However, as this is usually an in-house course the case study can be easily replaced with an internal case study of your own choice. Based upon the case study, there will be group and individual exercises aimed at anchoring the learning.

This is a practical course very much aimed at providing practical tools which can be used by business managers in identifying their own risks and developing suitable strategies for managing those risks.

An Attendance Certificate will be provided at the end of this skill course.

Vital Benefits:

All business is associated with uncertainties and so risk management should be fundamental to corporate culture. This course is about the uncertainty which surrounds the business processes in general. What are the business needs and assumptions? What could affect these, thus making the business plan no longer viable? The course provides the following vital benefits:

• A complete understanding of the risk process as described in the PRAM Guide
• A clear practical guide to producing your own risk plan
• An understanding of the many ways risk can be identified
• An understanding of risk assessment and planning
• An introduction to the risk strategies for threats and opportunities
• A complete guide to qualitative analysis of risk

Objectives:

Risk management is important and there are very few downsides of implementing a risk process. There does not seem to be any good reasons for not using risk management. In this course, it is our objectives to:

• Provide a sound understanding of the whole risk management process
• Help you understand the tools and techniques used in effective risk management
• Show how risk is managed in a typical business environment
• Use practical and interesting case studies easily understood by everyone
• Discuss experiences and common obstacles to risk management
• Leave a blueprint for continuous risk management

Topics:

This course is based on the APM PRAM Guide. The course cover all relevant aspects of the guide as follows:

• The five step process of define and focus, identification of risks, analysis and planning of identified risks and finally the management of the process
• The development of the risk plan
• Identification methods, the assessment and the four strategies for managing threat and opportunity
• The tools of risk management and how they work
• The management of risk, reviews and reports
• A practical guide for the future

Who to Attend:

Risk management is a vital business process and will lead to better developed business plans. Risk is often managed in an ad hoc way by business people who have had no formal risk training but think their efforts are “good enough”. Experience has shown that a formal approach to managing risk across the organisation will provide substantial benefits. We would recommend the course to the following business people:

• Business leaders
• Business executives
• Business managers
• Marketing and sales managers
• Operations managers
• Line managers
• Those who make important decisions for the business
• Those who face the clients or customers
• Those who want to develop their business skills