Recent events in the world have brought the subject of risk into a higher profile. Evaluating the range of available risk management techniques and choosing the most appropriate response in each case is an increasingly significant element of managerial responsibility in today’s business environment.

This program brings techniques, practices, and lessons learned for effectively identifying, understanding, managing, and mitigating risks, and simulation environment component deployments, represents unprecedented challenges and requires effective risk management with a touch on the multi-level risk management.

The fundamental purpose of this workshop goes beyond risk management processes as such and learning how to weave effective risk management practices, techniques, and methods into all aspects of migrating into the next generation of modern Risk control.

The program is also intended to leverage and extend the risk management experience of the participants by looking for common best practices and unique processes that have been especially successful. This workshop assessed the effectiveness of tools and techniques that are or could be helpful in risk management, with a special emphasis on how practice meets process.

Course Objectives

By the end of the course the participant should be able to:

• Define and understand risk management terminology in the context of participants’ working place.
• Identify top risks and share existing practices and methodologies.
• Understand how risk management practices and methodologies can be appropriately tailored to the level of risk associated with the activity.
• Share lessons learned from past management of risk activities.
• Discuss who should be responsible for various classes of risk and what are appropriate risk-sharing strategies.
• Establish communication paths for managerial and technical staff at multiple sites to continue the discussion on effective risk management practices.

Duration:        5 Days

Who Should Attend

• Professionals in audit, risk management and compliance
• Business leaders & members of Boards.
• Enterprise Risk Managers, PMO Managers, Risk and Quality Control Managers
• Risk Officers and Product Control Managers
• Compliance Managers, Value Managers, Business Strategy Managers
• Anyone interested in Risk Management Field

Course Content

The Nature of Risks

• Knowing risks
• Characteristics of risk
• Risk vs. opportunity
• Benefits of risk management

Risk Management Process

• Integrating risk management into the project planning process
• Roles and responsibilities in managing risk.
• Success factors in effective risk management
• The risk management process steps

Risk Management Planning

• Planning to avoid failures.
• Engaging stakeholders
• Setting up a framework for addressing risk
• Project risk workshops

Risk Identification

• Principles of identifying risk
• People-oriented techniques
• Tools-oriented techniques
• The risk breakdown structure
• Defining risks correctly and accurately
• Establishing a risk register

Risk Analysis

• Qualitative methods for analyzing risks.
• Defining probability scales
• Assessing impact of risks on project constraints
• Determining expected value of risk
• The PERT method
• The Buffer method
• Monte-Carlo simulation

Risk Prioritization

• Qualitative ranking methods
• Quantitative ranking methods
• Using filtering to segment risks
• The comparative risk ranking technique.
• Updating the risk register

Risk Response Strategies

• Response strategies for threats
• Defining preventive actions
• Creating contingency plans
• Defining risk response triggers
• Integrating risk responses into the project plan
• Understanding risk response interactions
• Risk reserves
• Finalizing the risk management plan

Risk Monitoring and Control

• Risk reviews
• Monitoring risk status and triggers
• Executing risk responses
• Evaluating risk plan performance
• Responding to the unexpected
• Risk re-assessment
• Maintaining the risk register
• Communicating and reporting risk exposure to stakeholders

Risk Management at Project Closeout

• Final risk review and assessment
• Capturing lessons learned
• Proactive management of future risks

General Notes

• This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group work and case studies.

• Training manuals and additional reference materials are provided to the participants.
• Upon successful completion of this course, participants will be issued with a certificate.