Risk Management Essentials

Created by LEC Team
Last updated Mon, 27-Mar-2023
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In our organizations we need to strike the correct equilibrium between threat and a potential incentive; to maximise our benefit danger and minimise our downside threat. To succeed we need to take care of risk suitably, not try to remove or prevent it, as, all the same, that isn't feasible. It's therefore important that we comprehend the major threats to our organization's operations to allow us to handle them to our benefit.

Program Objectives of Risk Management Essentials

  • Introduction to take the chance on management basics as well as the advantages of effective risk administration

  • recognizing the danger monitoring procedures

  • Identifying the risks and the means to manage it

  • Carrying out countermeasures to avoid the dangers

Day 1

  • The benefits of effective risk management

  • What is the risk?

  • It’s never happened/will never happen to us

  • Me, a risk manager?

  • The balanced view

  • Risk management has its uses

  • The risk management process

Day 2
Identifying risks
  • Where do I start?

  • How do I go about it?

Quantifying our risks

  • Likelihood and impact

  • Assessing and rating our risks

  • The risk matrix

  • Significant risks

Day 3
Managing Risks

  • Addressing our risks

  • Risk response options

  • Identifying countermeasures

Day 4
Risk Management & forward

  • Implementing countermeasures

  • Residual risk

  • The risk register

Day 5
Follow up & linking the dots
  • Monitoring and reviewing

  • Joining it all up

  • Risk appetite

  • A culture of risk awareness

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