(Part 1 of 2) - Organizational Risk Analysis and Risk Management

Topics Covered in Course

  • Major steps associated with the risk management process
  • Three key characteristics of a risk event
  • Interpret risks that reside in various business objectives
  • Different organizational levels that are responsible for managing risk
  • Identify key elements that should be part of a risk policy
  • Communicating risk in terms of risk thresholds
  • Formulate a process for identifying risks
  • Identify indicators of poor risk management practices
  • Distinguish risks that are internal or external
  • Identify common sources of risks within a project
  • Leveraging risk taxonomy and risk breakdown structure
  • Create a risk register for capturing your risks
  • Identify the key components of a risk radar
  • Two key characteristics used to describe risks
  • Formulate a risk score
  • Identify factors that influence probabilities
  • Construct a risk rating matrix
  • Different tools for risk models and quality control purposes

Templates Included

  1. Course Table of Contents
  2. Risk Management Policy Example
  3. Course Diagrams

Detailed Course Description

This is part one of a two part course. Risks can come from various sources including uncertainty in international markets, threats from project failures, legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attacks from a competitor, or events of uncertain or unpredictable origins. Risk management is important because it tells businesses about the threats in their operating environment and allows them to preemptively mitigate risks. In the absence of risk management businesses would face heavy losses because they would be blindsided by risks and be unprepared for them.

Risk management is practiced by businesses of all sizes. Small businesses do it informally while large organizations codify it and bake it into their operating plans. Businesses want to ensure stability as they grow. Managing the risks that are affecting the business is a critical part of their stability. Not knowing about the risks that can affect the business can result in losses for the organization. Being unaware of a competitive risk can result in loss of market share.

This online course will step you through the processes that are taken to manage risk and implement a risk management process.

A business that can predict a risk will always be at an advantage compared to their competition.

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