Risk Management Planning

Build, Develop and Maintain an Effective Risk Management Plan and Risk Register

Course Summary

Risk Management has a crucial role in today’s business environments and Risk Management Plans are the core live document that helps businesses manage their risks, from a Corporate to a Project level. This course will review the fundamentals of Risk Management, lead into the purpose and development of Risk Management Planning, and provide you with the necessary tools to create a Risk Register – a live document containing all identified risks, including risk quantification and mitigations.

The course draws upon examples from the rail and highways industries, from both Private Finance Initiative (PFI) and Public Private Partnership (PPP) tender processes and operational projects. However, the methods and tools it employs are equally applicable in any design, maintenance, manufacturing or operations environment.

Duration

Course Duration: 1 day (9.30am – 5.00pm)

Participants: 10-12

Objectives

Upon completion of this course, you will be able to:

• Recognise and illustrate the concepts of Risk and Risk Management
• Generate and manage a Corporate, Business or Project Risk Management Plan
• Design, incorporate and manage a Risk Register

Audience

This course is intended for persons with beginner to intermediate risk management expertise, including:

• Senior managers who are responsible for managing risk and/or embedding effective systems of corporate governance
• Bid Managers and Team Leaders who are responsible for identifying risk, both qualitatively and quantitatively during a bid process
• Chief executives and heads of departments who require a better understanding of risk management and the role it should play within their organisations
• Insurance managers, project investors, brokers, safety practitioners, auditors, project managers, accountants, solicitors and consultants who are increasingly finding risk management is forming part of their remit or are expected to have a broad understanding of the subject
• Individuals taking up a new role in risk management or wishing to enter the profession
• Practitioners who require a refresher on recent developments in risk management
• Non executive directors
• Students studying or about to embark on studying Practical and Enterprise Risk Management

Outline

Risk Management Introduction

• Introduction to risk management
• Why risk management?
• Risk management principles
• Introduction to key risk management planning disciplines
• The risk management process
• Attributes of effective risk management

Risk Management Planning

• Corporate or Business Risk Management Plan (RMP)
• Example Contents of a Corporate RMP
• How to tailor an RMP
• How an RMP links to other Business Plans

Risk Register

• Purpose and benefits of a Risk Register
• Content of a Risk Register
• How and when to create, update and manage
• Risk Register process, methods and tools for risk identification, assessment, control and mitigation
• Use a Risk Register to propose, evaluate and justify mitigation
• Corporate, Business and Project level registers