Introduction

Risk plays a pivotal role in every project, often underestimated in terms of its substantial contributions to both project outcomes and participant engagement. This dynamic and hands-on Risk Management Professional training course equips participants from basic to advanced levels with the necessary skills to become adept at managing risks. The course provides comprehensive insights into the risk management process from initiation to integration within organizational cultures, overcoming common barriers to successful execution. Participants will emerge with the proficiency to assess and manage risks effectively, using practical tools to monitor risk landscapes continuously.

Course Objectives

• Grasp the role of risk management in helping organizations meet their goals and enhance decision-making processes.
• Explore the intersection of risk management with governance, assurance, and sustainability.
• Distinguish between different types of risks, understanding the dynamics of positive and negative risks.
• Delve into ISO 31000 standards covering risk management principles, framework, and processes.
• Understand the significance of culture, communication, and behavior in risk management.
• Evaluate risks and implement suitable mitigation strategies using essential tools.
• Effectively communicate risk-related information within the organization and to external parties.
• Develop an understanding of your organization’s risk appetite and thresholds.

Target Audience

• Senior Executives, Board Members, and their Assistants
• Auditors (Internal and External)
• Compliance Officers and Managers, including Deputies
• Governance Specialists
• Risk Management Professionals
• GRC (Governance, Risk Management, and Compliance) Practitioners
• Legal Advisors
• Regulatory Officials
• Corporate Secretaries
• IT Specialists in governance, risk management, and compliance
• Managers overseeing governance, risk management, and compliance functions

Course Outline

Day 1: Fundamentals of Risk Management

• Introduction to the concepts of risk and its management
• Essential definitions in risk management
• Understanding project-specific risks
• Key elements for successful risk management in projects
• Roles and responsibilities in managing risks
• Examining organizational risk culture and structure

Day 2: Project Initialization

• Identification and analysis of project stakeholders
• Assessing stakeholder risk perceptions and tolerance
• Defining the project and its management approach
• Managing project scope, schedule, and costs
• Ensuring quality within the project framework

Day 3: Identifying critical factors for success

• Techniques for identifying potential project risks
• Analyzing resource-related risks
• Applying appropriate risk management tools and methods

Day 4: Analyzing Risks

• Conducting qualitative risk assessments
• Employing advanced tools for risk analysis
• Integrating quantitative and semi-quantitative risk analysis methods
• Refining risk analysis tools and techniques

Day 5: Managing and Controlling Risks

• Planning responses to identified risks
• Strategies for addressing negative and positive risks
• Evaluating risk management outcomes
• Ongoing monitoring and control of risks
• Summarizing key learnings and course closure