What is Risk Management all about :
The post-9/11 world has shown the importance of having well entrenched Risk Management practices, when seemingly sound organizations collapsed for want of such simple things as data back-up enabling them to recover and run their business. Even pandemics like the Avian Flu brought about the jarring reality of how such seemingly innocuous chain of events can lead to much greater business impacts affecting the survivability of companies in such competitive times.
Risk Management is all about and how it impacts an organization. It takes you through the steps involved in understanding your organization's strategic objectives and how this is linked to developing and implementing Risk Management protocols. It also covers the various links and references to international Best Practices such as the AS4360, the SOX Act etc adopted by various organizations.
Objectives of the degree programs in risk management:
- To Understand the key principles underpinning the effective management of risk
- To enable the participants to understand the concepts and steps involved in Risk Management the main components of the risk management process.
- To appreciate how to manage risks at the Strategic, Program, Project and Operational level
- To introduce to various Risk Management standards (process and product)
- To introduce practical applications of Risk Management in an organization such as Risk Identification, Risk Ratings, Risk Treatment / Mitigation, Residual Risk, Risk Audits and Reviews, Maintaining Risk Registers etc.
- To understand the role of Risk Management Representatives in an organization.
- To demonstrate and understand how to develop workable action plans to address identified risks.
- To understand the link between Risk Management and Business Continuity Planning and its importance.
- To understand the various Risk Management Standards practiced currently.
This program is suitable for personnel who are entrusted with developing & implementing Risk Management Practices, conducting Risk Audits, Management team members as well as those who wish to understand the concepts and practices.
The general outline of risk management studies include :
Introduction to Risk Management, its evolution and benefits and case studies.
Utilising Risk Management to develop Business Continuity & Disaster Recovery Planning
Where is Risk Management practiced (industries, sectors)
Difference between product & process risk management
Risk Management Standards and terminology
Aligning Risk Management with organizational Objectives – Enterprise Risk Management
Steps in the Risk Management process are :
Identifying / mapping risks
Assessing the probability using various tools & statistics,
Risk Treatment (Retaining, Mitigating, Eliminating, Transferring)
Residual Risks
Risk Audits
Reporting the risks
Developing Action Plans to address Risks include :
Risk Dashboard – a Visual Overview of Key risks and their status.
Business Continuity Planning & Disaster Recovery Planning
Monitoring and following up (risk registers etc)
Risk Management & Business Continuity Planning – their inter-relationship, Crisis Management etc & Review of the program
Some facts about Online Degrees and Distance Learning
