Risk Management Course
Empirical studies validate the connection between risk management skills to successful business performance and growth. Risk management skills are a prerequisite for business growth and personal career progression in the field.
This course imparts critical competencies to identify and solve problems when determining potential risks and ensuring that relevant and effective plans are developed.
Completing this course will help in:
Who is the course for?
This course targets managers in all economic sectors. These managers would typically be second level managers such as heads of department, section heads or divisional heads, who may have more than one team reporting to them.
Demonstrate an understanding of potential risks to a unit.
The concept of risk is explained regarding accepted theory and practice.
The factors that could constitute risks to a unit are identified and explained.
The role of organisational policies and procedures are explained concerning risk management.
Identify potential risks and assess the impact thereof in a unit.
Potential risk factors for critical processes in a unit are identified and documented.
Possible scenarios that could constitute a risk are identified and documented.
The possibility of each scenario occurring is evaluated and recorded for future use.
An analysis is performed and documented to rate the impact of each scenario on a unit.
Priorities resulting from the impact analysis are determined and documented for implementation in the event of the risk materialising.
Develop contingency plans for managing risk.
Contingency plans are developed and documented in accordance with the entity’s policies and procedures.
Contingency plans are communicated to relevant stakeholders in accordance with the entity’s risk management procedures.
Contingency plans are distributed and stored in accordance with the entity’s risk management procedures.
Test and revise contingency plans.
Contingency plans are tested in accordance with the entity’s risk management procedures.
Recommendations on improvements to the contingency plans are documented in relation to the findings of the testing.
Contingency plans are revised to incorporate recommendations from the testing in accordance with the entity’s policies and procedures.