Duration 5 Days

Course Description

A multidisciplinary approach to the assessment, mitigation and recovery of risk

Course Objective

• Understand the many and varied aspects of risk as applicable to a wide range of organizations
• Rank and manage risk in alignment with a specific and predetermined ‘risk appetite’
• Identify, select and use appropriate methodologies for the evaluation, and treatment of risk
• Understand and articulate the key principles of disaster recovery

Course Outline

Introduction

Pre Assessment

Principles of risk assessment 

• Three broad categories of risk
• 11 principles for effective risk management
• New risk management frameworks and management models
• The risk management process
• The importance of risk communication, monitoring and review at every stage in the process

Characterizing risks and potential problems

• Developing risk criteria
• Risk assessments: risk identification, analysis, and evaluation
• Articulating the appetite for risk
• Risk mitigation, migration and management
• Identifying the causes of events and the events that can lead to positive or negative consequences

Qualitative risk assessment methods 

• Hazard contour maps, HAZOP and FMEA techniques
• Bow tie analysis
• Identifying and evaluating key controls
• Qualitative risk matrices and risk registers
• Integrating multiple dimensions of risk

Conducting a risk assessment workshop

• Design of a workshop to achieve specific outcomes
• Facilitation techniques – managing challenging group processes
• Group Exercise

 Quantitative risk assessment methods – what are they and when to use them?

• Finding the right metrics to quantify consequences
• Data reliability: probability and statistics basics
• Data availability and relevance issues
• Fault tree and event tree analysis

 Moving from assessment to understanding

• Working with uncertainty
• Dealing with interdependencies and interactions between risks
• Identifying leverage points for more effective risk management
• What is important? Strategies for presenting complex information in ways that are simple and effective
• Defining and structuring a coherent risk register

 Achieving traction to proactively manage risk

• Identifying and implementing risk treatment options
• Creating an effective risk treatment plan
• Risk acceptability and perception – why they won’t always believe the risk assessment
• Challenges in communicating risks and best practice approach
• Monitoring trends and emerging risks over time
• Post Assessment