INTRODUCTION

The topic of risk has gained more attention as a result of recent occurrences around the world. In the current business climate, managers have an increasingly important role in assessing the variety of risk management strategies available and selecting the best course of action in each situation.

With the deployment of simulation environment components, this program brings techniques, practices, and lessons learned for effectively identifying, comprehending, managing, and mitigating risks. These deployments pose unprecedented challenges and call for effective risk management with a focus on multi-level risk management.

The main goal of this session is beyond learning about risk management procedures themselves and how to incorporate efficient risk management procedures, tactics, and methodologies into every part of transitioning to the newest type of modern risk control.

By identifying shared best practices and particular procedures that have proven particularly effective, the program also aims to expand and exploit the participants' prior knowledge of risk management. With a focus on how practice and process interact, this workshop evaluated the usefulness of tools and strategies that are or could be useful in risk management.

COURSE OBJECTIVES

The participant should be able to:

• Define and comprehend risk management terms in the context of the participant's workplace before the end of the course.
• Discuss who should be in charge of different classes of risk and what are appropriate risk-sharing strategies.
• Identify top risks and share current practices and methodologies.
• Understand how risk management practices and methodologies can be appropriately tailored to the level of risk associated with the activity.
• Create channels of communication for the managerial and technical staff at various locations so that the conversation about efficient risk management procedures can continue.

DURATION

5 Days

WHO SHOULD ATTEND

• Professionals in audit, risk management and compliance
• Business leaders & members of Boards.
• Enterprise Risk Managers, PMO Managers, Risk And Quality Control Managers
• Risk Officers & Product Control Managers
• Compliance Managers, Value Managers, Business Strategy Managers
• Anyone interested in Risk Management Field

COURSE CONTENT

The Nature of Risks

• Knowing risks
• Characteristics of risk
• Risk vs. opportunity
• Benefits of risk management

Risk Management Process

• Integrating risk management into the project planning process
• Roles and responsibilities in managing risk
• Success factors in effective risk management
• The risk management process steps

Risk Management Planning

• Planning to avoid failures
• Engaging stakeholders
• Setting up a framework for addressing risk
• Project risk workshops

Risk Identification

• Principles of identifying risk
• People-oriented techniques
• Tools-oriented techniques
• The risk breakdown structure
• Defining risks correctly and accurately
• Establishing a risk register

Risk Analysis

• Qualitative methods for analyzing risks
• Defining probability scales
• Assessing impact of risks on project constraints
• Determining expected value of risk
• The PERT method
• The Buffer method
• Monte-Carlo simulation

Risk Prioritization

• Qualitative ranking methods
• Quantitative ranking methods
• Using filtering to segment risks
• The comparative risk ranking technique
• Updating the risk register

Risk Response Strategies

• Response strategies for threats
• Defining preventive actions
• Creating contingency plans
• Defining risk response triggers
• Integrating risk responses into the project plan
• Understanding risk response interactions
• Risk reserves
• Finalizing the risk management plan

Risk Monitoring and Control

• Risk reviews
• Monitoring risk status and triggers
• Executing risk responses
• Evaluating risk plan performance
• Responding to the unexpected
• Risk re-assessment
• Maintaining the risk register
• Communicating and reporting risk exposure to stakeholders

Risk Management at Project Closeout

• Final risk review and assessment
• Capturing lessons learned
• Proactive management of future risks

GENERAL NOTES

• Our seasoned instructors, who have years of experience as seasoned professionals in their respective fields of work, will be teaching this course. A combination of practical exercises, theory, group projects, and case studies are used to teach the course.
• The participants receive training manuals and supplementary reading materials.
• Participants who complete this course successfully will receive a certificate.
• We can also create a course specifically for your organization to match your needs. To learn more, get in touch with us at training@dealsontrainers.org.
• The training will take place at DEALSON TRAINERS IN NAIROBI, KENYA in Nairobi, Kenya.
• The training fee includes lunch, course materials, and lodging for the training session. Upon request, we may arrange for our participants' lodging and transportation to the airport.
• Payment must be made to our bank account before the training begins, and documentation of payment should be emailed to training@dealsontrainers.org