COURSES
Risk Management
Course Code
252025
Risk management encompasses the identification, analysis, and response to risk factors that form part of the life of a business. Effective risk management means attempting to control, as much as possible, future outcomes by acting proactively rather than reactively. Therefore, effective risk management offers the potential to reduce both the possibility of a risk occurring and its potential impact.
Risk analysis is a qualitative problem-solving approach that uses various tools of assessment to work out and rank risks for the purpose of assessing and resolving them.
When creating contingencies, a business needs to engage in a problem-solving approach. The result is a well-detailed plan that can be executed as soon as the need arises. Such a plan will enable a business organisation to handle barriers or blockage to its success because it can deal with risks as soon as they arise.
What you will learn in this course!
- Demonstrating an understanding of business processes and potential risks to a unit.
- Identifying potential risks and assessing the impact thereof in a unit.
- Developing contingency plans for managing risk.
- Testing and revising contingency plans.
Who this course is for?
This is intended for 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.
INTRODUCTION
- Outcomes
- Demonstrate an understanding of potential risks to a unit.
- Identify potential risks and assess the impact thereof in a unit.
- Develop contingency plans for managing risk.
- Test and revise contingency plans.
IDENTIFY THE INCENTIVES TO MANAGE RISK IN AN ORGANISATION
- Outcome
- Demonstrate an understanding of potential risks to a unit.
- The Risk Management Context
- Types of risk
- Interrelationship between risk management and Loss control
- Risk identification
- Factors influencing risk management.
ASSESSMENT OF SITUATIONS IN THE WORKPLACE REQUIRING RISK MANAGEMENT INTERVENTION
- Outcome
- Identify potential risks and assess the impact thereof in a unit.
- Information on accident causation models
- Limitations of the Energy Damage Concept
- The generalised time sequence model
- Applying the concepts to real cases
- Notes on Audits
PREPARATION OF COST BENEFIT ANALYSES FOR THE MANAGEMENT OF RESOURCES
- Outcome
- Develop contingency plans for managing risk.
- A review of costs of accidents to the organisation.
- Criteria for evaluating the expenditure on prevention.
ASSESSMENT AND RECOMMENDATION OF STRATEGIES TO MANAGE RISK IN AN ORGANISATION
- Outcome
- Test and revise contingency plans.
- The scope of risk management.
- Obtaining information on hazards.
- Implementing the risk Management program.
Multiple Choice Assessment
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$160
- Language: English
- Duration: 80 hours
- Skill Level: Intermediate
- Lessons: 5
- Quizes: 1
- Certificate of Completion
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