The Art of Risk Management
Overview
Risk management plays a vital role in the strategic and project planning of virtually every initiative undertaken by organizations today. A plan without a “Plan B” is unthinkable. The importance of risk management can hardly be overstated. Awareness of risk has increased as we currently live in a less stable economic and political environment.
Organizations must look at risk from different perspectives and analyze the possibilities for managing it in each situation with a primary focus on operational, project and reputational risk management.
With this premise, Bbusinesss’ experience workshop will take participants to a level of understanding and implementation of skills related to successful Risk Management.
By the end of this program, participants will ...
- Define risk
- Understand the meaning of risk management
- Recognize the process of risk management
- Classify risks
- Identify the frequency and severity of impact
- Develop risk strategies
- Apply a risk management framework in the execution of duties
- Develop risk management policies, procedures and methodologies
Key Modules
- Risk Management Background
- Origins of Risk Management
- Benefits of Risk Management
- Limitations of Risk Management
- Risk and Leadership
- Effective Strategic Leadership
- Factors affecting Managerial Discretion
- Changing Culture & Reengineering and Risk
- Ethical Practices
- Best Practices in Market Risk Management
- Balance Sheet and Income Statement
- Risk Identification and prioritization
- Objectives for a Risk Management Plan
- Definition of Risk
- Definition of Risk Management
- Process of Risk Management
- Classification of Risks
- Frequency and severity of Impact
- Portfolio of Evidence: Legal requirements for Risk Management
- The concept of Risk Appetite
- The Risk Strategy
- The Risk Management Approaches
- The Risk Management Process in detail
- General
- Risk Identification
- Risk Quantification
- Mitigation and Control
- Risk Monitoring
- Risk Profiling
- Good Governance
- Adaptation – code of practice
- Statement of ethical principles
- Enterprise-wide Risk Management
- Importance of Enterprise-wide Risk Management
- Definition of Enterprise-wide Risk Management
- A framework for enterprise-wide Risk Management
- Roles and Responsibilities
- Management Information
- Reports and Reporting Structures
- Accountabilities of different role players
- Benchmarking Risk Management
- Risk Mitigation Measures
- Design of Risk Reporting Framework
- Design of a Risk Management Process
- Review Process
- Internal Control