Risk Management

Duration: Offered as a 90 minute webinar or 2 days in class

Course Overview

Risk management has long been a key part of project management and it has also become an increasingly important part of organizational best practices. Corporations have realized that effective risk management can not only reduce the negative impact of crises; it can provide real benefits and cost savings. The risk management framework provided in this course is flexible enough for any organization. You can apply it to a single project, a department, or use it as a basis for an enterprise-wide risk management program.

Learning Objectives

  • Define risk and risk management
  • Describe the COSO ERM cube and ISO 31000
  • Establish a risk management context
  • Describe the 7 R’s and 4 T’s that form the framework of risk management activities
  • Design and complete a basic risk assessment
  • Determine the appropriate response to risks and create a plan for those responses
  • Describe the key components of reporting, monitoring, and evaluation of a risk management program

Course Outline

1. Course Overview

2. Understanding Risk

  • Pre-Assignment Review
  • Defining Risk and Risk Management
  • Key Models

3. Risk Management Activities

4. Assessing Risk

  • A Risk Assessment Process
  • Case Study: General Motors (Part One)

5. Responding to Risks

  • The Four T’s
  • Case Study: General Motors (Part Two)

6. Resourcing Controls

  • Identifying and Evaluating Controls
  • Case Study: General Motors (Part Three)

7. Reaction Planning

  • The Worst-Case Scenario
  • Case Study: General Motors (Part Four)

8. Reporting and Monitoring

9. Reviewing and Evaluating the Framework

  • A Review Checklist
  • Back at Work

10. Personal Action Plan