Risk Management and Analysis
ID | 1164 |
Course Code | GMLWS012 |
Title | Risk Management and Analysis |
Category | Management and Leadership |
Date | 26 - 30 Apr |
Location | Kula Lumpur |
Country | Malaysia |
Fees | 3750 $ |
Desc |
Objectives: The objectives of this Risk Management workshop are:
Outline: Understanding Risk Management · The need for risk management and its benefits to the business · Importance of the effective identification, assessment & management of risk · Definition of what constitutes a risk · Difference between risks, issues and assumptions · Requirements for effective risk management · Barriers to effective risk management and how to address them The Five Elements Of Risk Management · Scope and intensity of risk management: Degree of application of risk management based on level of risk in the business and environment · Awareness of degree of risk tolerance considered acceptable by the organisation · The risk management process: The stages of the risk management process · Roles & responsibilities in risk management · The documents and products that are used during risk management Identifying All Credible Risks · Different types & categories of risks that can be present in specific business areas · Methods of capturing all types of relevant risks for the business area, and how to use them: Prompt Lists – Checklists – Questionnaires – Team Based Activity · Describing each risk in a way that it enables the effective analysis of the risk: Risk statement to contain a condition and the consequence · Identifying the causes of risks · Classifying the identified risks in 3 classes to aid analysis · Identifying the residual risk that remains in place for each identified risk after the existing controls in the business have been taken into account Assessment Of All Identified Risks · How analysis of each risk converts the statement of the risk into decision making information · Process of analysing each risk · Assessment of each risk · Using a Risk Assessment Matrix · Determining whether a risk is high, medium or low level Action Planning For Risk Management · Process of risk management action planning focusing on high level risks · The five major types of actions for managing risks Using A Risk Register · What's included? · Purpose · Allocating an owner · Responsibilities and support · Monitoring and controlling risk · Updating of the contents in the Risk Register Risk Monitoring & Control · Monitoring and controlling each risk · Limit Testing Method · The frequency of monitoring & controlling risks · Communicating the results of monitoring the risks · Managing stakeholders perceptions · Tracking changes in risks Closure Of Management Of Each Risk · Closure or passing of risk · Action taken to mitigate and manage the risk · Learning for future use |