Effective Business Risk Management Strategies

Managing business risk is about the application of planning and good governance to maximise success and proactively manage uncertainty that may affect operational performance, achievement of business objectives or meeting stakeholder expectations.

Poor risk management is mostly due to poor planning and lack of knowledge in the application business objectives and managing change. The good risk manager is someone who effectively identifies risks, the level of risk, i.e. probability and impact, and can control significant risks and review risks regularly.

 A strong business risk culture is essential for safety, welfare, and financial stability. Organisations seek ways to build and maintain a company-wide culture of risk awareness through risk management training.

This Effective Business Risk Management Strategies training course is intended to provide both risk and non-risk professionals with concepts that allow them to recognize and escalate risk-related issues before they become too severe.

The course provides a pragmatic approach to the management of most common business risks and helps participants to maintain a Business Risk Plan.

Importnant Features

The important features of the Effective Business Risk Management Strategies training course are:  

• The concepts of Business Risk Management

• An enterprise-wide approach to risk

• Identify risks and implement effective risk mitigation

• Link risk management into the business planning process

• Practical techniques for the assessment of people, process and reputation risks

• Record the risk process effectively

Learning Objectives

At the end of this Effective Business Risk Management Strategies training course, delegates will be able to:

• Avoid the common pitfalls and risks of management

• Identify the steps for managing departmental/business risk

• Lower costs and confusion

• Prioritize stakeholder input and support

• Set departmental expectations and establish risk ‘recovery’ plans

• Communicate with and control of/influence over stakeholders to minimize risk

• Develop a personal business risk plan

Target Audience

The Effective Business Risk Management Strategies training course is beneficial to:

• All employees who need to improve their proactive business risk management and risk communication skills.

• Professionals responsible for developing organizational strategy and defining organizational objectives

• Risk management professionals

• Senior Management Team responsible for the business risk management function or process

• Senior Internal Auditors and assurance professionals such as those in Compliance and QA functions who are being asked to review the business risk process

• Finance and insurance professionals who need knowledge of the wider approach to business risk management