The first step in managing risk often lies in identifying it.
The first step in managing risk often lies in identifying it. By identifying events or issues early on, properly preparing for it becomes easier. Failure to identify risks leaves businesses vulnerable. This online employee training program gives employees all the tools to consider every possibility so as to aid in making the correct risk management decision.
What You'll Learn
- Identify events, issues, and potential risks early before they affect the business
- Assess risks and apply mitigation techniques and risk management methods
- Distinguish among risk types including historical, physical, financial, compliance, human resources, and IT risks
- Recognize internal and external sources of risk
- Evaluate functional risks and project risks across their stages
- Use the tools to consider every possibility and make the correct risk management decision
Key Takeaways
- The first step in managing risk often lies in identifying it.
- Identifying events or issues early on makes proper preparation easier.
- Failure to identify risks leaves businesses vulnerable.
- The course covers identifying, assessing, and mitigating risk along with risk management methods.
- Risks are examined by category and by their internal and external sources.
Frequently Asked Questions
Who is this course for?
This is an online employee training program designed to give employees the tools to consider every possibility and make the correct risk management decision.
What does this course cover?
It covers identifying, assessing, and mitigating risk; risk management methods; and a range of risk types including historical, physical, financial, compliance, human resources, IT, functional, and project risks, along with internal and external sources of risk.
Why is identifying risk important?
The first step in managing risk often lies in identifying it; identifying events or issues early makes preparation easier, while failure to identify risks leaves businesses vulnerable.
What skills will I gain from this course?
You will gain the ability to identify, assess, and mitigate risks, recognize different types and sources of risk, and use these tools to make correct risk management decisions.
Transcript
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Introduction Welcome to Identifying Risk, the first of three courses in a series of the risk management process. Although risk management has evolved over the years into a number of specialized disciplines, the basic concepts and applications are literally the same variations on a theme, and are virtually only limited by your imagination. Identifying risks is simple in many ways, and yet can be complex depending on the industry, project, product, or business venture encountered. The first step in the risk management process not only encompasses a wide variety of techniques that require enhanced skillsets, but allows and actually necessitates a creative mindset to better facilitate this function. As we begin our journey into this highly specialized and exciting occupation, keep an open mind as to the possibilities available for your respective companies. Whether you're a novice or an experienced risk manager, project manager, CFO, and/or senior manager, all can benefit from this exercise and educational experience.
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