Risk Management: Know the Basics

Overview

The course introduces participants to basic risk management concepts, processes, tools and techniques, and reinforces the learning with a simple but effective case study. It identifies risk management as a valuable function that should be appropriately linked with other business functions and areas in order to adequately protect an organisation's assets. The course takes a hands-on approach to the application of risk management to the public sector.

Course Content

This course defines risk and risk management, and then provides reasons for implementing risk management in the public sector. It sets the scene, explaining where risk management fits with other business functions and outlines its benefits. The course shows how to undertake a risk management study, and how to prepare and implement a risk management plan. It includes small group exercises and a case study.

Course Outcomes

By the end of this course attendees should be able to:

• argue a strong case for risk management
• define risk management in the context of the public sector
• understand the cost-benefit trade-off to be considered in risk management decisions
• describe the relationship between risk management and other business functions
• appreciate the relationship between risk management, internal controls and corporate governance
• apply relevant processes, tools and techniques in identifying, analysing and evaluating risk in a case study
• prepare, implement and monitor a risk management plan

Benefits to your organisation

• enhanced risk management capability
• better management of risk

Benefits to you

• greater understanding of risk management
• an understanding of basic risk management techniques that can be applied in the workplace
• ability to make a positive contribution to a risk management exercise, and to the development and implementation of internal controls