Integrated Risk Management

Background:

In today’s challenging times, organizations are exposed to multiple risks. It has become imperative for organizations to address these risks. Organizations that manage risk effectively and efficiently are more likely to achieve their objectives and do so at lower overall cost. Risk Management is an integral part of good management practice and an essential element of good corporate governance.

Risk management involves establishing an appropriate infrastructure and culture and applying a logical and systematic method of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize gains.

Although the concept of risk is often interpreted in terms of hazards or negative impacts, this training course addresses risk as exposure to the consequences of uncertainty, or potential deviations from what is planned or expected. The Integrated Risk Management Approach described here applies to the management of both potential gains and potential losses.

Duration

2 Days

Content

  •   Risk Management Overview
  •   The role of communication and consultation
  •   Establishing the External and Internal Context (PEST Analysis Tool)
  •   Stakeholder Analysis
  •   Risk Identification Methods
  •   Risk Analysis – Qualitative & Quantitative
  •   Evaluation of Risks
  •   Risk Treatment Plans
  •   The role of monitoring, reviewing and documentation

Benefits

  •   Establish the risk management context;
  •   Develop risk management policy;
  •   Establish infrastructure and processes for implementing risk management strategy;
  •   Maintain infrastructure and processes for managing risk management system;
  •   Prepare to implement risk management strategy;
  •   Support other staff to manage risk;
  •   Facilitate risk recovery process; and
  •   Monitor and review system implementation

Who should attend?

  •   Developing and implementing a risk management system
  •   Integrating existing management systems
  •   Developing and implementing a management system
  •   Responsibility for managing the audit process for an organization