Enterprise Risk Management – Awareness & Introduction

Enterprise Risk Management (ERM) is essential for organizations seeking to navigate uncertainties and mitigate risks effectively. This course introduces participants to the principles of risk management using ISO 31000:2018 and ISO 9001:2015 standards. Participants will gain insights into risk assessment, management techniques, and the legal implications of unmanaged risks, equipping them to implement effective risk-based strategies. This introductory programme also caters for any business operations that wishes to engage effective risk management practices by complying the ISO 31000: 2018 Risk Management and ISO 9001:2015 Risk Based Standards.

This course is ideal for:

Senior Management and Risk Managers
Compliance and Governance Professionals
Business Owners and Operational Leaders
Professionals involved in quality and risk-based standards

Risk Management Principles: Explore ISO 31000:2018 and ISO 9001:2015 guidelines for setting up risk frameworks.
Risk Identification and Analysis: Learn tools and techniques for identifying, analyzing, ranking, and mitigating risks.
Risk Evaluation: Understand assessment techniques, including hazard and loss analysis, and the impact of risks on business continuity.

Governance Integration: Discover the relationship between risk management, crisis management, and business continuity planning

By the end of this course, participants will:

Recognize the importance of risk management within the organizations.
Identify various risks affecting businesses and their potential impacts.
Utilize proven risk identification and analysis tools to assess and rank risks effectively.
Implement risk management strategies aligned with international standards.

Module 1: Introduction and Overview of ISO 31000: Risk Management & ISO 9001:2015 Risk-Based Thinking

Principles and Guidelines
Establishing the Compliance Framework
Developing Asset Components (People and Property)

Module 2: Risk and Uncertainty

Analysis of Risk & Uncertainty
Degree of Risk
Risk Measurement
Peril & Hazard
Classification of Risks
Risks Impacting Humans and the Business Environment
Human Behaviour in Risk Context
Risk Management

Module 3: Overview of the Risk Management Process & Administration

Evolution of Risk Management
Definition of Risk Management (Enterprise Risk Management and Integrated Risk Management)
The Risk Management Process
Risk Management Plan
Duties and Roles of a Risk Manager
Identification of Existing and Potential Risks
Evaluating and Analyzing Risks
Selection and Implementation of Appropriate Loss Prevention / Reduction Techniques
Monitoring and Reviewing the Risk Management Process
Risk Management Tools
Cost and Benefits of Risk Management

Module 4: Risk Identification and Analysis

Perception and Treatment of Risks
Attitudes and Reaction towards Risks
Risk Identification Practices and Techniques
Identification Tools
Risk Analysis of Potential Frequency and Severity of Losses
Selection & Implementation of the Most Appropriate Risk Management Technique
Monitoring and Reviewing the Suitability of Management Techniques

Module 5: Risk Evaluation and Assessment Techniques

Risk Assessment Plan
Risk Measurement
Hazard and Loss Analysis
Causes of Accidents and Related Theories
Threat & Risk Analysis
Basic Understanding of Risk Matrix
Impact of Risk
Management of Threat and Risk – Damage Control and Mitigation Plan
Case Study and Short Video Presentation

Module 6: Liability Resulting from Risk Factor Materialization

Legal Liability
Legal Liability Risk
Factors Influencing Legal Liability Risks
Nature of Legal Liability in Business
Torts and Legal Liability
Contract and Legal Liability
Employer’s Liability for Injuries to Employees
Product Liability
Risk Mitigation Plan

Module 7: Relationship between Risk Management, Crisis Management & Business Continuity Planning

Functions of Risk Management
Consequences of Failed Risk Management or Ignored Risks
Crisis Management and its Components
Preference?
Implementation of Both Risk Management and Crisis Management
Fundamentals of Business Continuity Planning

This program equips participants with practical knowledge to implement risk management frameworks effectively. By addressing operational and strategic risks, organizations can enhance resilience and achieve sustainable growth.

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