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Introduction to Risk Management
Course Description
Course Title
Introduction to Risk Management
Overview
Risk is all around us – it’s a fact of life, affecting whatever we do, be it personally or professionally. But this doesn’t have to be a problem. Instead, recognising risk, and knowing how to deal with it can improve our professional performance and even help us to make the best of our opportunities. Conversely, if we don’t take risk into account, or know how to manage it, we are exposed to failure in whatever we do. This interactive and practical course will enable delegates to understand and identify a range of risks and provide tools to analyse and manage them so that negative effects are minimised, or opportunities can be taken. Aimed at professional staff in a variety of roles, the course combines learning, practical examples, and student exercises to develop understanding and competence in this important area.
What You Will Learn from This Course:
• Why risk management matters and how it can help you
• How to understand risk and the different types we face
• The risk management cycle
• How to identify root causes of risk
• How to analyse risk, including probability and impact factors
• Be familiar with risk registers and how to use them to manage organisational risk
• A range of practical tools and techniques to identify, analyse and control risk
• How to learn lessons and improve your risk performance
Why Should You Attend this Course?
We have all seen times when something disrupts our plans or our operations and activities. This often costs us time or money, and usually means a lot of extra stress and hard work. Usually, with a little thought, these events could have been foreseen and prevented, or at least the effect on our work reduced. This is the essence of risk management – identifying what could go wrong and then planning in the light of this. And it doesn’t just apply to risks: it also applies to opportunities, which we can then maximise. This course will give you a grounding in the theory and practice of risk management, providing you with practical methods for identifying, prioritising and reacting to risk events. This will help you to reduce the effect of these risks, or even avoid them altogether. This will make your projects and operations safer, faster, cheaper and more predictable.
Because human factors, automated tools, assurance and continuous improvement are key to successful risk management, these topics are also covered.
All of this means that delegates should emerge from the course with a high degree of knowledge and a good set of tools and practices to use and to apply to real-life work.
The course is full of practical techniques and examples, with the intention of turning knowledge into practical benefit and the worked examples, case studies and exercises are intended to make applying the knowledge gained easier.
Finally, the instructor will include opportunities to discuss the real-world problems and issues and questions that are affecting delegates in their own projects and working lives, so that improvements and solutions can be implemented as soon as delegates return to their desks. Often, helpful advice can be gained from the experience of other delegates, and the course setting provides opportunities to do this.
Who Should Attend This Course?
• Engineering and technical staff
• Management and supervisory staff
• Quality management staff
• Project team members
Outcome of this Course
By the end of this intensive course, attendees will be able to:
• Identify, analyse and manage risk
• Create and manage a risk register
• Identify root causes of risk
• Use a range of risk management tools
• Improve performance through better risk management
Course Length
2 days (one 4-hour session per day)
Course Content
An interactive mix of lecture, case studies, group discussion and activities will be used to illustrate and apply the process and techniques described in the course. The following topics will be covered:
Introduction
• What we mean by risk
• Why managing risk is important
• The benefits of risk management
The Risk Management Cycle
• Overview
• Preparation
• Risk identification
• Risk analysis
• Response planning
• Implementation
• Continuous improvement
Tools and Techniques
• Identifying risks
• Analysing risks, including root cause analysis
• Prioritisation
• The risk register and its operation
Other
• Human factors in risk management
• Automated tools
• Opportunity management
• Assurance
Case Studies
• Presentation of real-life examples and case studies of how risk is managed
Practical Exercises
• Delegates work in small groups to practice risk management techniques
Summary and Next Steps
• Summary
• Things you can do next
• Reference Material
