Effective Department-Level Risk Management

Risk management is commonly being seen as only applicable if it is cascaded down from the very top management to the lower levels of an organization. Although this is indeed an ideal situation, the absence of a top-down or organization-wide risk management practice should not prevent a department, section, or unit from establishing its very own risk management.

Therefore this course will equip employees from the various departments with pragmatic risk management tools, so as to enable them to implement effective risk management in their daily operations DESPITE NOT Having standardized top-down risk management standards in their organizations.

Course Objectives

• Develop an actual Risk Management Framework for your respective departments
• Implement the risk management process and create actual risk management documents

Who Should Attend

• Managers, executives and engineers from various departments of an organization

Module 1: Risk Management Framework

• Types or categories of risks
• Developing a pragmatic departmental level risk management framework

Module 2: Risk Identification

• Determining the aspects or types of risk relevant to the departmental or divisional operations
• Identifying the risks associated with the above mentioned aspects

Module 3: Risk Analysis & Articulation

• Trigger: what activates or triggers the risks
• Consequences: the potential consequences if such risks, threats, or control failure actually occurred

Module 4: Risk Assessment

• Determining the Risk Exposure
• Risk Likelihood & Risk Impact
• Risk Matrix & Risk Outcome

Module 5: Risk Action Plan

• Determining the Risk Appetite
• Identifying the Risk Response

Module 6: Risk Reporting

• Risk report writing, compilation, and data visualization or presentation
• Periodic Risk Review on the risks and the corresponding action plans