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Risk Management and Decision Making

MG24

Introduction

This course will be of benefit for those managers who may find themselves regularly dealing with risk management related issues.  Preparing for situations which will cause business disruption is a critical element of any businesses planning, but has become especially relevant in the modern world.  Each risk related decision can be vital, having an impact on operations, personnel and revenue.  This course has been designed to provide delegates with the skills to identify, plan for and monitor risk

As well as introducing key risk planning principles and preparing delegates to make better and more timely decisions, the course will introduce the key concepts of risk across the organisation and of critical decision making tools required to manage through a crisis.

Who should attend

This intensive course is designed for Managers, Department Heads and Directors who wish to strengthen their risk management skills and gain a fresh perspective on how to make decisions in critical situation.

COURSE PROFILE

Defining risk

  • Describing risk and determining its impact on your area of operations
  • Risk management at operational management level
  • Risk management models and their benefits
  • Linking risk management with organisation’s vision, mission, goals and values
  • Identifying risk tolerance levels and agreeing what would be classed as ‘acceptable‘ for each area of operations

Risk types, interdependencies and roles

  • Assessing areas of operational internal risk types
  • Techniques to specify risk and their interdependencies
  • Enterprise risk management
  • Understanding external risk types (STEEPLED)

Risk analysis

  • The difference between ‘Likelihood’ and ‘Impact’ when assessing risks
  • Producing a departmental risk management assessment matrix
  • Developing a risk management register for your area of operations
  • Activities to eliminate, mitigate, deflect or accept risk

Managing financial risks

  • Analysing mechanisms of corporate governance
  • Identifying different types of financial risk
  • Defining the scope of financial risk
  • Implementing financial risk management processes
  • Identifying fraud and implementing mitigation measures to counter it

Decision making during a crisis

  • Identifying the main areas of risks encountered during a crisis
  • Determining the information and intelligence used decision-making process
  • Analysing and presenting new information
  • Using information and intelligence (Fact v Assumption)
  • Communicating information and decisions to staff and stakeholders
SKILLS

At the end of this course, delegates will be able to:

  • Identify and manage risks appropriately
  • Use risk management for the best interests of your organisation and its stakeholders
  • Understand the steps in risk assessment and establish a risk matrix
  • Apply the steps in a risk management framework
  • Analyse your organisation’s exposure to risk
  • Develop and implement control strategies for monitoring and controlling risks
  • Identify and manage financial risks
  • Make critical business decisions in a crisis situation
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