Managing Risk

Managing Risk Free

By Paul Chivers
9 Lessons
4.5
(21 reviews)
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Managing risk is as much about creativity and success, as it is about due diligence.

Managing Risk course excerpts

Risk Management Guidelines - Overview

Effectively managing risk requires a framework to assist you in integrating risk management into significant activities and functions.
Managing Risk Course - Lesson Excerpt

Disclaimer

What is risk?

Why use ISO31000 guidelines?

Risk Management Guidelines - Overview

It has been adopted Worldwide.

Risk Management Guidelines - Overview

A risk framework requires ?

The effectiveness of risk management will depend on its integration into the governance of the organisation, including decision-making. This requires support from stakeholders, particularly top management.

Risk Management Guidelines - Overview

Integrating risk management into an organisation is a dynamic and iterative process, and should be customised to the organisation’s needs and culture.

Risk Management Guidelines - Overview

When designing the framework for managing risk, the organisation should examine and understand its external and internal context.

Risk Management Guidelines - Overview

Properly designed and implemented, the risk management framework will ensure that the risk management process is a part of all activities throughout the organisation, including decision-making, and that changes in external and internal contexts will be adequately captured.

Risk Management Guidelines - Overview

In order to evaluate the effectiveness of the risk management framework, the organisation should periodically measure risk management framework performance against its purpose, implementation plans, indicators and expected behaviour.

Risk Management Guidelines - Overview

As relevant gaps or improvement opportunities are identified, the organisation should develop plans and tasks and assign them to those accountable for implementation.

Risk Management Guidelines - Overview

Risk Assessment

Don't let fear distort the facts! The cover picture is a grey nurse shark, often referred to as the labrador of the sea. Assessing risk is often stifled by perception and bias. Learn how to identify, analyse and evaluate risk effectively.
Managing Risk Course - Lesson Excerpt

Risk Assessment

Communication & Consultation

Communication and consultation is there to assist relevant stakeholders in understanding risk, the basis on which decisions are made and the reasons why particular actions are required.
Managing Risk Course - Lesson Excerpt

Communication & Consultation

Scope, Context and Criteria

Without context there is no point in managing risk! Establishing the scope, the context and criteria is about customising the risk management process, enabling effective risk assessment and appropriate risk treatment.
Managing Risk Course - Lesson Excerpt

Scope, Context and Criteria

Risk Treatment

Selecting and implementing the right treatment options for addressing risk requires a range of methods and techniques. Too often, we identify the wrong risk therefore throw resource at th wrong treatment or control.
Managing Risk Course - Lesson Excerpt

Risk Treatment

Monitor and Review

Monitoring and review is about assuring and improving the quality and effectiveness of process design, implementation and outcomes. We often assume that documented treatments and controls are in place, yet have very little evidence of their effectiveness.
Managing Risk Course - Lesson Excerpt

Monitor and Review

Recording and Reporting

The risk management process and its outcomes should be documented and reported through appropriate mechanisms. Remember, its about quality, not quantity!
Managing Risk Course - Lesson Excerpt

Recording and Reporting

Antifragile

It's easier to identify what is fragile (e.g. champagne glass) than to predict what might harm it! Learn how to thrive on uncertainty, disorder, errors and stressors?
Managing Risk Course - Lesson Excerpt

What is Antifragile?

For antifragile, harm from errors should be less than the benefits.

Human Factors

Human factors are the leading cause to the majority of risk failures around the World. Learn how to reduce complexity and re focus on the most fragile part of risk management… which is people.
Managing Risk Course - Lesson Excerpt

What are Human Factors?

Human Factor Failure Case Studies Chernobyl Disaster - The Ukrainian Minister of Power stated the odds of a meltdown were 1 in 10,000 just two months before the meltdown. Volkswagen - A culture developed that seems to have not only permitted cheating on emissions tests, but even encouraged it. IBM (early 1990) - An entrenched culture of conformity and rules that resisted any attempts at change which nearly sent them bankrupt. ENRON - Individual and collective greed born in an atmosphere of market euphoria and corporate arrogance.

Are we actually contributing to the fragility of society by trying to avoid risk?

Managing Risk Course Author

Paul ChiversPaul Chivers is the Founding Director of Riskfacilitator and has over 22 years’ experience in developing, implementing and introducing risk management frameworks, programs and systems worldwide.

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