$197intermediate

Risk Management

Name: Risk Management
Price: 197.00 USD
Availability: InStock

This workshop provides a comprehensive introduction to risk management principles and practices. Grounded in ISO 31000 and the COSO ERM framework, the course equips participants with the tools to identify, assess, respond to, and monitor risks in any organizational context—from a single project to an enterprise-wide program. Practical case studies using General Motors bring the concepts to life throughout the course.

15 lessons5 modules480 minutes

What you'll learn

Define risk and risk management
Describe the COSO ERM cube and ISO 31000
Establish a risk management context
Describe the 7 Rs that form the framework of risk management activities
Design and complete a basic risk assessment
Determine the appropriate response to risks and create a plan for those responses
Describe the key components of reporting, monitoring, and evaluation of a risk management program

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What Is Risk? Risk is a concept that affects every organization, regardless of size or industry. The **ISO 31000** risk management standard defines risk as *"the effect of uncertainty on objectives."* In other words, a risk is any deviation—positive, negative, or neutral—from what you expect to happen. Risks generally fall into one of four areas: **Strategic risks** — related to your organization's long-term direction (three, five, or more years out) **Change management risks** — arising during mergers, restructuring, or other major transitions **Operational risks** — affecting the day-to-day running of the business **Financial risks** — threatening the overall financial health of the organization It is important to remember that risk is not always negative. An unexpected drop in supply costs, for example, is a positive risk. Your goal is to be aware of and prepared for all types of deviation. Common Examples of Risk Risks can emerge from many sources, including: Government regulation or shifting economic and social conditions Changes in key partnerships, vendor relationships, or supply sources Labor market fluctuations affecting workforce availability and cost Integration challenges with IT or communications systems Legal or privacy restrictions on information access Security incidents that disrupt operations Quantitative vs. Qualitative Risks Risks can be classified as **quantitative** (those with a clearly measurable impact on time, money, or resources) or **qualitative** (those that

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Risk Management

What you'll learn

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Curriculum

Understanding Risk

Assessing Risk

Responding to Risks and Resourcing Controls

Reaction Planning, Reporting, and Monitoring

Reviewing and Evaluating the Framework

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