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Course Introduction
Risk Management Courses South Africa : Risk management has for many years been a key component of project management, however now it is a major component of organizational best practices. Companies have come to the conclusion that effective risk management can not only lower the impact of crises; but can offer real cost savings and benefits.
Framework for risk management offered to delegates is flexible enough for any company. The skills can be applied to single projects (project management), a department, or even used as a method for an enterprise-wide risk management.
Course Outline: Risk Management training: South Africa
Johannesburg (Sandton), Cape Town, Durban, Port Elizabeth, Pretoria – South Africa
Key outcomes of the course include:
• Risk and risk management definition, types of risk. Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
• Understand two key risk management models: ISO 31000 and the COSO ERM cube
• Establish the risk management context
• The framework of risk management activities including describing the 4 T’s and 7 R’s
• Tools to complete basic risk assessment
• Determine the appropriate response to risks and create a plan for those responses. The four T’s of reacting to risks: Tolerate, Treat, Transfer, and Terminate.
• Have knowledge of the key areas of monitoring, reporting, and assessment of a risk management program
• Have knowledge of controls that can be put into place to mitigate risks. See our related article: Take good risks by working on your business risk management
Advantage of Risk Management Courses South Africa
- Minimize unfavorable surprises and boost gains. Enterprise Risk Management (ERM) (taught in Risk Management Courses) permits organisations to enhance their capability to determine threats and develop suitable reactions, lowering surprises and associated monetary loss, and enabling them to benefit from key advancements. If you have better conversations about options and unintentional effects, bad things aren’t simply going to end, however slowly, you will be less surprised. For instance, a transport business understood that not all hold-ups in highway traffic can be prevented, however it established detours and procedures to alert customers about prospective hold-ups.
- Minimize efficiency irregularity. The obstacle for some entities has less to do with surprises and more to do with irregularity in efficiency. For instance, a public transport system can go for much better on-time efficiency, however having buses and trains go from running 10 minutes late to 10 minutes early is too broad a movement in efficiency.
- Enhance resource implementation. Having a increase knowledge base relating to threats enables organisations to examine total resource requirements and improve resource allotment. For instance, an extensive threat evaluation of a gas circulation business’s facilities allowed the organisation to choose exactly what parts were so old that they required changing and exactly what parts might work a couple of more years with repair work.
- Increase the variety of choices. By thinking about all possibilities– both favorable and unfavorable elements of threats– management can recognize brand-new opportunities and difficulties connected with current opportunities.
- Recognize and handle entity-wide threats. Dangers can impact numerous parts of an organisation. In some cases, a danger can originate from one part of business however have an impact on another part. As an outcome, management recognizes and handles these entity-wide dangers to sustain and enhance efficiency.
Recommended Prior Experience and Knowledge: Risk Management Courses South Africa
The course (Risk Management Courses South Africa ) is designed for the following attendees:
Business owners, managers
For the Risk Management Courses it is advisable that you have the following experience/knowledge:
None
Risk Assessement Quiz
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