Risk Management
 

Risk management is an activity directed towards the assessing, mitigating (to an acceptable level) and monitoring of risks. In some cases the acceptable risk may be near zero. Risks can come from accidents, natural causes and disasters as well as deliberate attacks from an adversary.

 

In businesses, risk management entails organized activity to manage uncertainty and threats and involves people following procedures and using tools in order to ensure conformance with risk-management policies.
 

Risk management is also used in the public sector to identify and mitigate risk to critical infrastructure. For the most part, these methodologies consist of the following elements, performed, more or less, in the following order.
bulletidentify assets and identify which are most critical
bullet identify, characterize, and assess threats
bulletassess the vulnerability of critical assets to specific threats
bullet determine the risk (i.e. the expected consequences of specific types of attacks on specific assets)
bulletidentify ways to reduce those risks
bullet prioritize risk reduction measures based on a strategy

OBJECTIVES AND LEARNING OUTCOMES
This course provides a solid foundation in the understanding of risk, how it is managed, how to plan and use business continuity should thing go wrong; and how to monitor and report on risk management.
At the end of the workshop participants should be able to:
bullet Identify and manage risk and uncertainty which is a very important skill; and a key relevant in the overall frame work for corporate governance in an organisation
bullet Explore the positive and negative aspects of risk, focusing on business enterprise risk management
bullet Improve their knowledge and practical skills in the identification assessment and control of business risk
bullet Have working knowledge on the implementation and audit procedures for the following:

1.Planning for HIRAC

2.Continual improvement of their organisations high risk profiles

3.Understanding BCM policy and programme management

4.Developing and implementing a BCM response

5.Drawing incident management plan

6.Quantifying risk and management.