By the end of this module, you should be able to:
• Recognize the origins and key concepts relating to risk management
• Compare and contrast the main risk management standards
• Apply the concepts of risk management
• Examine the main approaches to risk identification
• Use the main approaches to the analysis and evaluation of risk
• Distinguish the main features of risk control techniques

Course Content

Module 1: Principles of Risk and Risk Management
This module introduces the history, principles, and concepts of risk and risk management to help students understand the current drivers of risk management and the development and impact of international standards. This leads to examining how risks are classified and the models or frameworks utilized to identify, assess, and treat them. By the end of this module, you should be able to: • Recognize the origins and key concepts relating to risk management • Compare and contrast the main risk management standards • Apply the concepts of risk management • Examine the main approaches to risk identification • Use the main approaches to the analysis and evaluation of risk • Distinguish the main features of risk control techniques

Unit 1: Concepts and Definitions of Risk and risk management
A general introduction to some basic risk management concepts

UNIT 2. Risk management standards
Explores the main features of key risk management standards, including the most generally accepted ISO 31000 standard (ISO,2018) as well as some specialist risk management standards.

UNIT 3. Risk Management
An overview of risk management. Understand how it can be implemented, in what context and the role of objective setting.

UNIT 4. Risk Assessment 1 (Introduction and Identification)
Risk assessment is a key element of the process of RM. This module introduces the wide-ranging subject following the ISO 31000 process.

UNIT 5. Risk Assessment 2 (Analysis and Evaluation)
This unit focuses on two elements, risk elements, risk analysis, and risk evaluation. Other professional standards are also examined.

UNIT 6. Risk Response and Risk Treatment
A conclusion of the module, completing the RM process and considering risk treatment

Module 2. Practice of Risk Management
This module explores the impact of the business environment on organizational risk, and examines issues relevant to various sectors, geographical areas, and stakeholders, including regulatory authorities. It covers how corporate governance and risk assurance might influence the architecture of risk management programs, and the significance of risk culture, appetite, and tolerance of current practices. Main learning outcomes By the end of this module, you should be able to: • Discuss the impact of the wider business environment on organizations and the issues this raises for risk management in specific sectors and geographical areas. • Illustrate the key features of a risk management framework • Explain the significance of issues of culture, appetite, and tolerance, as well the key features of corporate governance models, project risk, and operational management systems • Discuss the nature and purpose of internal control, audit, and risk assurance techniques • Analyze real-life case studies and identify key risk management lessons.

UNIT 1. The Global business environment
The implications of the business and risk environment on organizations and appropriate responses

UNIT 2. Risk Strategy and Framework
The importance of a coherent risk framework, strategy and protocol, and the appropriate role of risk management documentation.

UNIT 3. Risk Culture, appetite and Tolerance
How an organization’s approach to risk management is significant. How to create effective risk profiles to manage this and what makes a great risk practitioner.

UNIT 4 Risk and Organizations
Key features of international corporate governance, how to manage regulatory bodies and various facets of risk management

UNIT 5. Risk assurances and reporting
Important features of an effective control environment and how auditing and other risk assurance techniques fit within the risk management framework

UNIT 6. Case studies in organizational risk management
Case studies that give important insights into how risk events occur, and the lessons that can be learned from them. Also covers the challenges of understanding emerging risks

What Will You Learn?

Course Content

Unit 1: Concepts and Definitions of Risk and risk management A general introduction to some basic risk management concepts

Approaches to defining risk

Impact of risk on organizations

Types of risk

Development of risk management

Principles and aims of risk management

UNIT 2. Risk management standards Explores the main features of key risk management standards, including the most generally accepted ISO 31000 standard (ISO,2018) as well as some specialist risk management standards.

General risk management Standards and risk management frameworks

Alternative risk management approaches.

UNIT 3. Risk Management An overview of risk management. Understand how it can be implemented, in what context and the role of objective setting.

Defining Risk Management

Risk management overview

Implementing Risk management

Establishing context for risk management

Objective setting

UNIT 4. Risk Assessment 1 (Introduction and Identification) Risk assessment is a key element of the process of RM. This module introduces the wide-ranging subject following the ISO 31000 process.

Risk assessment considerations

Risk causes and consequences

Risk classification systems

UNIT 5. Risk Assessment 2 (Analysis and Evaluation) This unit focuses on two elements, risk elements, risk analysis, and risk evaluation. Other professional standards are also examined.

Introduction to risk analysis

Risk likelihood and impact

Risk evaluation and risk appetite

Loss control

Defining the upside of risk

UNIT 6. Risk Response and Risk Treatment A conclusion of the module, completing the RM process and considering risk treatment

Introduction to the topics

The 4 Ts (treatment, tolerate, transfer, terminate)

Risk control techniques

Control of selected hazard risks

Introduction to monitoring and review

Insurance and risk transfer

Business continuity planning

UNIT 1. The Global business environment The implications of the business and risk environment on organizations and appropriate responses

The business and risk environment

Organizational vision and values

Risk management, business success and value added

Sector specific and geographical issues

UNIT 2. Risk Strategy and Framework The importance of a coherent risk framework, strategy and protocol, and the appropriate role of risk management documentation.

Risk Architecture, strategy and protocols

Risk management documentation and responsibilities.

UNIT 3. Risk Culture, appetite and Tolerance How an organization’s approach to risk management is significant. How to create effective risk profiles to manage this and what makes a great risk practitioner.

Organizational Behavior and Culture

Risk appetite and tolerance

Risk training and communication

Risk practitioner competencies

UNIT 4 Risk and Organizations Key features of international corporate governance, how to manage regulatory bodies and various facets of risk management

Introduction to corporate governance

Identifying stakeholders, including regulatory bodies

Project, operational and supply chain risk management

UNIT 5. Risk assurances and reporting Important features of an effective control environment and how auditing and other risk assurance techniques fit within the risk management framework

The control environment

Internal audit function

Risk assurance techniques

Risk reporting

corporate reputation.

UNIT 6. Case studies in organizational risk management Case studies that give important insights into how risk events occur, and the lessons that can be learned from them. Also covers the challenges of understanding emerging risks

Case Studies in Organizational risk Management

Emerging risks and future developments

Hello!

Unit 1: Concepts and Definitions of Risk and risk management
A general introduction to some basic risk management concepts

UNIT 2. Risk management standards
Explores the main features of key risk management standards, including the most generally accepted ISO 31000 standard (ISO,2018) as well as some specialist risk management standards.

UNIT 3. Risk Management
An overview of risk management. Understand how it can be implemented, in what context and the role of objective setting.

UNIT 4. Risk Assessment 1 (Introduction and Identification)
Risk assessment is a key element of the process of RM. This module introduces the wide-ranging subject following the ISO 31000 process.

UNIT 5. Risk Assessment 2 (Analysis and Evaluation)
This unit focuses on two elements, risk elements, risk analysis, and risk evaluation. Other professional standards are also examined.

UNIT 6. Risk Response and Risk Treatment
A conclusion of the module, completing the RM process and considering risk treatment

UNIT 1. The Global business environment
The implications of the business and risk environment on organizations and appropriate responses

UNIT 2. Risk Strategy and Framework
The importance of a coherent risk framework, strategy and protocol, and the appropriate role of risk management documentation.

UNIT 3. Risk Culture, appetite and Tolerance
How an organization’s approach to risk management is significant. How to create effective risk profiles to manage this and what makes a great risk practitioner.

UNIT 4 Risk and Organizations
Key features of international corporate governance, how to manage regulatory bodies and various facets of risk management

UNIT 5. Risk assurances and reporting
Important features of an effective control environment and how auditing and other risk assurance techniques fit within the risk management framework

UNIT 6. Case studies in organizational risk management
Case studies that give important insights into how risk events occur, and the lessons that can be learned from them. Also covers the challenges of understanding emerging risks