Price: $1,699.00

Course Number: 1022
Length: 2 Days
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Risk Management Training

Anything that an organization does to try and manage risk is generally considered a step in the right direction.

Normally this begins with risk identification – the charting of risks in a way that allows organizations to identify the more common and serious risks so that they know the areas to which they need to commit resources.

Identifying risks in business decisions is much the same as with the process of identifying any risk. The key is to be thorough and use all the sources available. These risks can be prioritized and mapped in the same way as all other risks.

Often risk is broken down into two general terms:

Speculative Risk — Risks where the possible outcomes are either a loss, profit or status quo. It includes things like stock market investments and business decisions such as new product lines, new locations, etc.

Pure Risk — Risks where the possible outcomes are either a loss or no loss. It includes things like fire loss, a building being burglarized, having an employee involved in a motor vehicle accident, etc.

Organizations that have embraced a risk management culture are often at odds on how much to spend on risk management. The process enterprises undertake to identify and mitigate risk should incorporate business considerations from the very beginning, so proper analysis of the risk management program and associated expense can take place.

Risk management is often thought of as a process involving various steps: risk identification, risk analysis, risk prioritization, risk assignment, risk response and monitoring the risk.

Arguably, the most important steps in the process are identifying and analyzing risk. Identifying risk involves communicating with a wide spectrum of individuals associated with your organization – team members, colleagues and stakeholders. Look both forward and backward. That is, imagine the project in progress. Think of the many things that can go wrong. Note them. Do the same with historical data on past projects.

Drill down to the root cause to see if the risk is one that will have the kind of impact on your project that needs identifying.

Analyzing risk is hard. It often seems like there is never enough information you can gather. Of course, a lot of that data is complex, but most industries have best practices, which can help you with your analysis. There is no one best way to analyze risk, but a combination qualitative and quantitative approaches is a good start. Risk factors are often determined by now the risk impacts your project across a variety of metrics.

Risk Management Training Course by Tonex

Risk management is a critical area in corporate investment and finance. This course covers framework, methods, and practice risk management across industries through real case studies. Concise and comprehensive, it covers both the theoretical underpinnings of risk management, as well as practical techniques for coping with financial challenges.

This Course Will Help:

  • Broaden your perspective to better understand your organization’s vulnerabilities and protect it from disruptive events.
  • Gain the strategic mindset to capitalize on new opportunities that occur as a result of a crisis.
  • Cultivate a resilient organization in times of uncertainty and change.
  • Gain effective communication and messaging frameworks when your organization’s reputation is on the line.

Who Should Attend

This is an excellent course for industry and organizational executives such as senior executives, C-suite executives, entrepreneurs and board of directors who want to get a better handle on risk management. This program is designed for a range of senior leaders who are responsible for making high-stakes decisions to protect, prepare, or move their organization ahead.

Participants should be familiar with finance and corporate strategy.

 

Risk Management Training

Objectives

Upon completion of this course, the attendees will:

  • Gain an in-depth understanding of risk management in the corporate environment.
  • Understand risk management and how it applies to project management
  • Understand financial risk management
  • Understand credit risk management
  • Explore strategic risk management
  • Analyze corporate risk strategy
  • Quantify the risks involved in your business and avoid potential pitfalls
  • Apply value-at-risk measurement techniques
  • Understand the risk of accounting irregularities and how they impact your company
  • Identify and address credit risks within your business
  • Evaluate new business opportunities
  • Identify the risks associated with long-term contracts

Outline

Content

Part I: Introduction

  • The Risk Management Problem Evaluation and Review of Risk Management Programs
  • Risk Identification
  • Risk Control: General Considerations
  • Regulation
  • Risk Financing: Captive Insurers
  • Managing Crime Risks: Risk Control
  • Managing Transit Risks: Risk Control

Part II: Risk Finance

  • Managing International Risks
  • Managing Employee Benefits: Health Expense Coverage
  • Managing Employee Benefits: Qualified Retirement Plans
  • Risk Management: Framework, Methods, and Practice
  • Why Manage Risk?
  • The Theoretical Underpinnings of Risk Management
  • Measuring Risk
  • Credit Risk.
  • Managing Risk.

Part III: Project management risk

  • What is project management risk?
  • Benefits of project risk management
  • Constraints
  • Uncertainties
  • Risk assessment
  • Risk control
  • Risk assessment
  • Identifying risks
  • Types of risks
  • Financial
  • Technological
  • Schedule
  • Other
  • Workshop: Identifying project risks
  • Sources of information
  • Interviews
  • Lessons learned
  • Work breakdown structures
  • Critical path analysis
  • Assessing risks
  • Assessing the likelihood
  • Assessing the impact
  • When to assess project risk
  • Prioritizing risks
  • Categorizing risks
  • Workshop: Assessing and prioritizing risks

Part IV: Risk control

  • Risk control strategies
  • Avoidance
  • Mitigation
  • Reduction
  • Acceptance
  • Contingency planning
  • Budget
  • Schedule
  • Scope
  • Assessing the cost of risk control strategies
  • Workshop: Developing effective risk control strategies
  • Measuring the effectiveness of risk control strategies

 

Risk Management Training

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