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

Topics Covered in Course

  • Plan using risk control 
  • Develop risk response strategies for different types of risks
  • Strategies for when you have both a threat and an opportunity
  • Devise a sequential order for developing a risk response
  • Apply the five T’s for developing risk response strategies
  • Different types of contingency plans for managing risk
  • Distinguish different types of insurance policies for managing risk
  • Apply different contract clauses for reducing risk
  • Select an appropriate business entity for reducing risk
  • Business functions which have a disaster recovery plan
  • Decompose the components behind operational risk
  • Identify tools for managing operational risk

Templates Included

Currently in progress

Detailed Course Description

This is part two 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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When you successfully pass a test you will obtain a Course Completion document (this proves you took, and passed, that specific course). Collect the specific Course Completion documents for any given SME roadmap - when all are obtained for a given SME roadmap, submit those documents to management@voiceofthebusinessacademy.com in one email and we will issue you a Subject Matter Expert personalized certificate.

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