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Integrated Risk Management (P862)

Realistic Requirements and Expectations of Risk Management

This course will be delivered as a live, instructor-led session online – click here.

Risk is something we face every day. We deal with most day-to-day risk at a subconscious level; however, many risks require a little more consideration. Some risk takes us well out of our comfort zone and so we avoid it – sometimes at all costs. But risk is something that can and should be embraced; risk management is actually a very useful tool set for thought in everyday decision making and often the risk of not doing something can be greater than the risk of doing something.

IRM is a systematic and holistic approach to understand, communicate and manage risk across the organization allowing more timely, appropriate and effective responses. It is about the right people having the right information to guide strategic and tactical decisions that contribute to the achievement of an organization’s overall objectives.

This course is intended to provide an initial overview of integrated risk management – sometimes known as ‘joined-up thinking’ about risk. The story builds by firstly developing an understanding of risk itself and our attitudes to it, next we look at how we bring risk under our control by means of risk management, and finally we look at how we can take a more strategic view of risk and develop a consistent pan-organizational approach. All the way through, we will build the concepts into practical examples so that attendees can take away real experience of having ‘managed’ risk.

While not specifically a course on the Government of Canada’s Framework for the Management of Risk, this workshop will cover many of the same principles using the same terminology. And so, this course will be eminently suitable for anyone wishing to understand and apply the Framework.

This is a two-day workshop in Ottawa.

Space is still available for all course dates listed, unless otherwise noted.

Learning Outcomes

By the end of this seminar, you will have:

  • An overview of the nature of risk, how it can be managed and the benefits of setting up an organization-wide approach to deal with it
  • A broad understanding of the language of risk
  • Experience in using some common risk management tools
  • A knowledge of the realistic requirements and expectation of any risk management initiative


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Workshop Topics

Background

  • Introduction
  • Putting this course into context

Risk

  • Risk, uncertainty and opportunity
  • Personal approaches to risk and risk tolerance
  • The psychology of risk and its avoidance
  • Perception vs. reality
  • Different types of risk and the methods for dealing with it
  • Pushing the envelope, embracing risk

Risk Management

  • Learning to see
  • Assessing risk – simple and more involved methods
  • Simple approaches and tools for cause and impact analysis
  • Risk and projects – where many projects go wrong
  • Deciding when and how to respond to risk

Integrated Risk Management (IRM)

  • Setting up and driving an IRM framework and initiative
  • Overview of some major Risk Frameworks such as COSO & ISO 31000
  • Culture, change and leadership
  • Defining an organization’s risk profile
  • Integrating IRM into existing governance and decision making processes
  • Practicing and learning from IRM

Who Should Attend This Course?

Anyone within an organization that either wants to gain a basic understanding of risk within the organization, is charged with setting up or being involved with a risk management initiative, or senior management who want to understand the purpose or benefits of Integrated Risk Management.

Does this Course Address your Competency Development Needs?

This training workshop addresses:

• Achievement / Results Orientation
• Adaptability / Flexibility
• Analytical Thinking
• Change Management and Leadership
• Client Service
• Communication
• Decision Making / Decisiveness
• Impact and Influence
• Innovation and Initiative
• Leadership
• Management Excellence
• Negotiating Techniques
• Organizational Knowledge
• Planning / Organizing
• Problem Solving
• Research, Analysis and Evaluation
• Risk Management
• Strategic Thinking
• Values and Ethics