Training Programs - Risk Management

Risk Management

Build practical risk management skills to identify potential risks, assess their impact, and take informed action before they disrupt your organization’s goals.

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In-Person/Online

2 Days

English/Arabic

Learning Objectives

  • Recognize the importance of implementing a risk management strategy.
  • Explain framework & process for the management of risk.
  • Explore methods used to plan and implement risk management actions.
  • Practice the use of risk management tools and techniques.
  • Identify how to use risk management to ensure compliance with corporate policies and governmental regulations.

Modules

  • The need for risk management and its benefits to the business
  • Importance of the effective identification, assessment & management of risk
  • Definition of a risk
  • Difference between risks, issues and assumptions
  • Requirements for effective risk management
  • Barriers to effective risk management and how to address them
  • Scope and intensity of risk management
  • Degree of risk tolerance considered acceptable to the organization
  • The risk management process
  • Roles & responsibilities in risk management
  • Documents and products used in risk management
  • Types & categories of risks present in specific business areas
  • Methods of capturing the relevant risks and how to use them
  • Describing risks to enable effective risk analysis
  • Identifying the causes of risks
  • Classifying identified risks to aid analysis
  • Identifying residual risk that remains after existing business controls have been taken into account
  • Three business reasons for analyzing risk
  • Risk analysis to convert risk statements into decision-making information
  • Risk analysis process
  • Establishing criteria for determining probability & severity of impact for risk assessment consistency
  • The risk assessment matrix
  • Determining overall risk level: High, medium or low
  • Risk management action planning, focusing on high-level risks
  • The five major types of actions for managing risks
  • Examples of the five major types of actions for managing risks
  • Purpose of recording risk details in a risk register
  • Details to include in the risk register
  • Importance of allocating an owner for each risk
  • Responsibilities of the risk owner and the support they require
  • Using the risk register for monitoring and controlling risks
  • The steps and actions involved in monitoring and controlling risk
  • Limit testing method to monitor and control medium- and low-level risks
  • Frequency of monitoring & controlling risks
  • Communicating risk monitoring results with key staff & stakeholders
  • Managing stakeholders’ perceptions
  • Tracking changes in risks
  • Recording of closure or passing of risk on the Risk Register
  • Recording of action taken to mitigate and manage the risk

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