By the end of this course you will be able to:

• Provide a framework and process for the management of risk
• Be aware of the default management reports
• Appreciate the need for the management and review of risk
• Understand a variety of techniques to identify, assess, manage and monitor risks
• Recognise the importance of planning and implementing an identified risk management plan
• Appreciate the barriers and benefits of good risk management

What will you learn on this course?

• Awareness of Risk Management
  
  Definition of what constitutes a risk; The need for risk management and its benefits to the business; The risk management process; Importance of the effective identification, assessment and management of risk; Requirements for effective risk management roles and responsibilities in risk management; Benefits and barriers to effective risk management and how to address them; How risk management fits with your every day management


• Identifying All Realistic Risks
  
  Methods of capturing all types of relevant risks; Identifying the causes of risks; Describing each risk in a way that enables the effective analysis of the risk


• Assessment of Identified Risks
  
  Understand why there is a need to analyse risk either qualitatively or quantitatively; How analysis of each risk converts the statement of the risk into decision making information; Consistent approach to the assessment of each risk and the use of a risk assessment matrix


• Response Planning For Identified and Analysed Risks
  
  Areas of risk management response plans for identified risks, in order to have an effect on the probability or their impact; Selection of an appropriate risk response strategy dependent on the importance of the risk and the cost benefit of the response; The responsibilities of the owner of each risk and the behaviours exhibited


• Documentation and Management of the Risks
  
  The purpose of recording these details for each risk and the documents used during risk management; The details for each risk that need to be included in a risk register; Recording of action taken to mitigate and manage the risk; How a risk register is used in the monitoring and control of each risk; How risk management fits with your every day management; Communicating the results of monitoring the risks with key staff and stakeholders


• Closure of Each Risk
  
  Recording of closure of risk in the Risk Register; Capturing of learning from the management of risks for future use in managing other risks