Aim

Risk management has long been a key part of project management, but in recent years, it has become an increasingly important part of organisational best practices. Corporations have realised that effective risk management can not only reduce the negative impact of crises; it can provide real benefits and cost savings.

The risk management framework provided in this workshop is flexible enough for any organisation. You can apply it to a single project, a department, or use it as a basis for an enterprise-wide risk management program.

Target Audience

All members of staff who may be required to take risks within their role and need to understand risk.

Prerequisites

This course assumes no prior training within this subject.

Course Content

• Understanding Risk

• Risk Management Activities

• Assessing Risk

• Responding to Risks

• Resourcing Controls

• Reaction Planning

• Reporting and Monitoring

• Reviewing and Evaluating the Framework

• Workshop Wrap-Up and action plan

Course Objectives

At the completion of this course participants will be able to: • Define risk and risk management

• Describe the COSO ERM cube and ISO 31000

• Establish their risk management context

• Describe the 7 R’s and 4 T’s that form the framework of risk management activities

• Design and complete a basic risk assessment

• Determine the appropriate response to risks and create a plan for those responses

• Describe the key components of reporting, monitoring, and evaluation of a risk management program

Course Outline