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Understanding Risk and Its Importance

What you will learn

Introduction to Risk Management

Risk Managment elements

Introduction to Enterprise Risk managment

Integrating risk management into business strategy

Addressing risks at an organizational level

Effective communication of risks to stakeholders

Description

Welcome to “Introduction to Risk Management,” a comprehensive course designed to equip you with the foundational knowledge and practical skills necessary to understand and navigate the complex world of risk management. In today’s dynamic business and global landscape, the ability to identify, assess, and mitigate risks is crucial for the success and sustainability of any organization.

This course offers a holistic overview of risk management principles, methodologies, and best practices, catering to both beginners and individuals seeking to enhance their existing knowledge. Through a combination of theoretical lessons, real-world case studies, and interactive discussions, you will gain insights into various types of risks that organizations face and the strategies to effectively manage them.


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The course may cover topics such as:

  1. Different types of risks, including financial, operational, strategic, compliance, and reputational risks
  2. Risk management frameworks, such as ISO 31000 or COSO, and how to apply them to an organization.
  3. Fundamentals of Risk Management: Delve into the basic concepts of risk, uncertainty, and probability, while understanding the distinction between different types of risks, such as financial, operational, strategic, and reputational.
  4. Risk Management Application.
  5. Types of ERM Framework.
  6. ERM Framework Elements.

By the end of this course, you will have developed a solid foundation in risk management theory and practice, empowering you to contribute effectively to risk management initiatives within your organization or as a consultant. Join us in this educational journey to cultivate a proactive and informed approach to dealing with uncertainties and maximizing opportunities in today’s dynamic business environment. Your journey towards becoming a proficient risk manager starts here.

English
language

Content

Introduction to Risk Management

Definition of Risk
HAZARD vs. RISK Vs. Perils Vs HARM
Risk Base Thinking
Risk Management
Risk Management Fundamentals
Risk Management Importance
Risk Manager Role
Individual Employee roles

Enterprise Risk Management (ERM)

Enterprise Risk Management (ERM)
ERM Categories
Approaches to ERM
ERM Fundamental Concepts
ERM Advantages
ERM Disadvantages
ERM Implementation Guide
ERM Implementation Challenges
EMR framework Types
ISO 31000 ERM Framework
The COSO ERM Integrated Framework

ERM Framework Elements

Risk Appetite
Risk Appetite Statements (RAS)
Risk Tolerance
Risk Attitude
Residual Risk
Risk Reporting Dashboards
RISK CAPACITY
RISK TARGET
RISK LIMIT
Risk level
RISK CRITERIA
RISK EVALUATION
RISK Prioritization
Risk Response
Risk Data Analytics
Portfolio Risk Management
Risk Management Plan
Risk maturity
Risk perception
Risk magnitude
Risk significance
Risk Modeling
Risk Governance

ERM Framework Elements exam

ERM Framework Elements exam
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