Fundamentals of Risk Management

Introduction

This Fundamentals of Risk Management training course is intended to introduce the fundamentals of Risk Management being a systematic core built-in function in all types of organizations.

This training course provides you with a general overview of all main aspects of Risk Management starting from the definition of the term and going through the building blocks of the total integrated Enterprise Risk Management model (ERM) together with its related Risk Governance arrangements.

This training course will enable participants to appreciate the need and urgency to re-visit their existing Risk Management framework with an aim to improve and align with the overall organization strategic plan.

It will also allow a better understanding and clarity on the functional structures, roles and responsibilities required to be put in place to ensure an effective Risk Management Implementation enterprise wide.  

This GLOMACS Fundamentals of Risk Management training course will highlight:

• What is Risk, What is Risk Management?
• Types of Risks, Risk Management Approaches
• Risk Management Framework, Risk Management Process
• Risk Culture, Risk Maturity
• Enterprise Risk Management
• Risk Governance

Objectives

At the end of this Fundamentals of Risk Management training course, you will be able to:

• Understand the definitions of key terms of Risk & Risk Management
• Explore the different stages of the Risk Management process
• Learn the tools and techniques used for Risk Assessment
• Study Risk Formulation, Risk Ranking and Risk Treatment
• Learn about Risk Appetite, Risk Tolerance and Risk Escalation
• Understand the Enterprise Risk Management model
• Study the Risk Governance framework

Training Methodology

A highly interactive class, where all delegates will be encouraged to engage and participate, share and gain from each other’s knowledge and experience.

The classroom lectures will rely on a bullet based slide presentation enriched by group discussions around case studies and checklists wherever applicable.

Organisational Impact

This Fundamentals of Risk Management training course is of direct relevance to Public sector as well Private sector Organizations which can achieve improvements in their operations through:

• Adopting an adequate Risk Management Framework  
• Effective Decision Making
• Efficient Structure of Risk Governance
• Clarity on Roles and Responsibilities (Who is supposed to do What?)
• Better Utilization of Available Constrained Resources
• Building a high resilient, high reliable operation capable of maximizing the up side of risks (opportunities) and reducing its downside (threats)

Personal Impact

This Fundamentals of Risk Management training course will benefit participants by gaining knowledge that will enable them to have a better understanding on:

• Their Roles and Responsibilities in the Risk Management Process
• Roles & Responsibilities of the Structures Involved in the Process
• How to Develop an Effective Risk Management Process
• How to Identify , Assess, Formulate and Treat Business Risks
• How to Track and Monitor Risks and when to Report and Escalate
• The Integrated Approach of Risk Management across the Enterprise
• What Constitutes an Effective risk Governance Framework