Risk Assessment and Management

Introduction

All organizations face increasing demands for better corporate governance. An essential element of any framework for corporate governance is an effective approach to risk management.

 All institutions undertake many kinds of risk management as part of their general management.  Nearly all have programmes covering health and safety issues, such as fire precautions and public liability insurance; some have gone much further. A useful stage in developing the risk management process is to evaluate the scope and strength of existing procedures (such as insurance assessments, disaster planning, and health and safety) and try to improve their effectiveness.

 In this course we will discuss different drives for risk in all institutions, causes, effects and mitigations measures. These risk resulted from commercial and legal relationships, economic circumstances, human behavior, natural and human caused disasters, government activities, technology and management.

Commercial and legal relationships are the relationships between the business and other people or entities that are defined by the terms of written or oral contracts, course of business dealings, or law. Economic circumstances are the characteristics and condition of the general business environment within which commerce is

Conducted. Human behavior includes a broad range of positive and negative human activity that may affect a business' ability to reach its goals. Natural and human caused disasters are the major events that cause significant damage, destruction, and/or human casualties, arising either from natural hazards (such as floods, wildfires, earthquakes, hurricanes, thunderstorms, tornadoes, or snowstorms) or human caused events (such as acts of terrorism and major industrial accidents). Government activities include all the functions undertaken to operate a political unit, including adopting and enforcing laws and regulations, supplying public goods and services, and contracting for goods and services from private businesses. The reliance on computer, Internet, and telecommunications resources to conduct a business' operations and achieve its goals could cause risks for institutions.

 In this course we will discuss in a step by step the risk assessment and management process starting with establishing the risk as priority for every employee and ending by  implementing and monitoring action plan for risk management through institutions.

Objectives

The course is designed to provide governmental and non governmental businesses and institutions with information that will enable them to identify and analyze their risks and make them more manageable which will reduce their monetary losses and enable them to continue their services under up normal conditions. Also, this course will enable institutions to provide better quality services through minimizing chances of not enabling them to do so

Training Methodology

The training methodology is interactive with group exercises and is suitable for all employees involved in functions management. The pace and level of the training workshop is customized to the understanding of the delegates. Ongoing back-up and support is available after the training on request to the supplier, and the training course is also available for in-house presentation as well as for “Competency Transfer”.

Who Should Attend?

This course is intended to introduce risk assessment and to provide sufficient technical, procedural, and methodological knowledge to participate in a risk assessment team. It is designed for anyone who wants to understand, manage, or review a risk assessment and management plan. It is designed to give decision-makers as well as assessors information about risk assessment and management.

All institutions, governmental or non-governmental for profit and for non-profit ones, are advised to participate in this course which will give them applicable information for their institutions that will enable them to reduce their future losses form different sources of risks which we will introduce in this course.

Course Outline

Model 1:

• Introduction to Risk Assessment and Management Scope, application, definitions, and its importance (3 H)

Model 2:

 Why Risk Management Is Important for Business Continuity (1H)

• Examples where risk management is important to business continuity
• Risk Source Definitions

Model 3:

Sources of Risk, Effects of Risk, and Strategies to Deal with Risk (18 H)

• Commercial and Legal Relationships (3 H)
• Economic Circumstances (3 H)
• Human Behavior  (3H)
• Natural and Human Caused Disasters (3 H)
• Government Activities  (3 H)
• Technology (3H)
• Management (3H)

Model 4:

 A Step-By Step Process for Addressing Risk (8 H)

• Step 1: Establish Risk as a Priority for Every Employee 
• Step 2: Designate a Risk Team Leader
• Step 3: Define the Scope and Goals of the Risk Team’s Activities
• Step 4: Establish an Analytical Framework
• Step 5: Recruit Team Members
• Step 6: Identify and Evaluate Risks 
• Identify Risks and Possible Losses
• Estimate the Frequency and Severity of Losses
• Identify Potential Strategies
• Reach Consensus
• Step 7: Plot a Risk Map
• Step 8: Create an Action Plan
• Assign Priority to Risks and Evaluate Risk Management Strategies
• Complete and Circulate the Action Plan
• Step 9: Implement and Monitor the Action Plan