Description
Course Summary
The ultimate goal of any business is to achieve maximum profit. However, to do this will always come with risks. If you are the decision-maker for your business, then you will need to understand which risks will result in a worthwhile return on investment and which ones may cause you a detriment.
Risk management is the skilled practice of weighing up the potential causes and costs of a decision against the gains and losses that it may achieve. It requires calculation, accurate and sophisticated data analysis, and extensive project planning to develop a foolproof operational process.
Creating a risk management framework is also about considering the employees involved in change, understanding their skills, knowledge, and employee culture to determine any potential causes and effects of hurdles that may arise, and creating attainable KPIs to performance manage and keep changes on track for profitability.
Course Objectives
During this course, you’ll learn:
- To be familiar with the best practices related to risk management.
- To be able to create a viable risk management framework for development within your own business.
- To understand the ISO31000 formal risk management structure.
- To evaluate current procedures and processes and identify risks.
- To build a successful and high-performance problem-solving team.
- International risk management standards and what they mean to you.
- To implement methods of critical thinking when deciding on risk factors.
- To analyse the root cause of problems and develop innovative methods of change.
- To prioritise financial and operational risks for mitigation.
- To be confident in deciding when a risk is too much and liaising with teams involved to relay these messages.
Course Content & Outline
1- The Different Kinds of Business Risk
- What is risk?
- Operational risks.
- Financial risks.
- Recruitment risks.
- Identifying KRIs (Key Risk Indicators).
- Developing best practice.
2- Business Continuity Plans
- What is a business continuity plan and why is it important?
- Identifying single points of failure.
- Transferring risks to other areas.
- Evaluation of your own practices. Do you have hidden risks?
- ISO22301.
- ISO/IEC27031 applications.
3- Risk Management Theory and Method
- Compliance vs. risk.
- The reward decision model.
- 9 patterns for critical thinking.
- SWOT analysis.
- Creating a risk management framework.
- ISO31000 frameworks.
- Cost-benefit analysis.
4- Understanding Employee Culture
- Maximising performance to alleviate risks.
- The role of management in alleviating risk.
- Monitoring risk mitigation compliance.
- Presenting change to employees to gain buy-in.
- ERM (Enterprise Risk Management).
- Managing stakeholders and presenting benefits.
5- Evaluating Changes and Reviewing Future Risk
- Setting review timescales.
- Asking for feedback on amendments.
- Evaluating current processes and reviewing potential risks.
- Risk reporting and analysis.
- Tools for reporting and presentation.
- Working towards continuous improvement.
Who is this training for?
This course would be suitable for any professional who is involved in wider business development or change management to help mitigate risks during large-scale business change. It is particularly suitable for:
- Risk Management Professionals
- Change Managers
- Planning Managers
- Operations Managers
- Developing Managers
- Supervisors
- Team Managers
- Health & Safety Managers
- HR Personnel
Training Methodology
This course utilises a range of adult learning techniques to develop effective risk management frameworks. It includes trainer-led lectures and group seminars and discussions to help understand where risks appear and how to mitigate them within different business structures.
You will receive data-driven management models and secure real-life case studies to identify where change is required and push to create innovative solutions within your working group in order to achieve the best outcome.
