OVERVIEW
This intensive 2-day training workshop is designed to equip participants with a comprehensive understanding of the fundamentals of Enterprise Risk Management (ERM). The program covers key concepts, processes, and practical approaches to managing risk within an organization. Participants will explore how to identify, assess, manage, and monitor risks effectively to enhance the organization’s value and ensure sustainable growth.
LEARNING OBJECTIVES
By the end of this training, participants will be able to:
- Define and Describe Risk: Understand the multifaceted nature of risk including various definitions and contexts.
- Implement Risk Management Processes: Apply a structured approach to managing risks, including assessment and mitigation strategies.
- Identify Opportunities and Threats: Distinguish between risks that can be transformed into opportunities and those that pose serious threats.
- Create Value through Risk Management: Learn how to leverage risk management for value creation within the organizational and strategic framework.
- Foster a Risk-Aware Culture: Develop strategies to embed a proactive risk-aware culture across all levels of the organization.
- Enhance Decision-Making: Utilize risk management tools and techniques to support and improve decision-making processes.
- Manage Change Effectively: Equip with skills to manage change and adapt risk strategies in dynamic business environments.
COURSE OUTLINE
Day 1
Session 1: Introduction to ERM
- Training Introduction
- Overview of Enterprise Risk Management
- Importance of ERM in today’s business environment
Session 2: Understanding Risk
- Definition and Types of Risk
- Personal perceptions and organizational impact of risk
- Uncertainty and its business implications
Session 3: Risk Management Processes
- Comprehensive walkthrough of the Risk Management Process
- Risk identification techniques
- Risk assessment methodologies
Session 4: Implementing Risk Management
- Strategies for risk mitigation
- Risk transfer mechanisms
- Implementing risk controls and response strategies
Lunch Break
Session 5: Value Creation through Risk Management
- Aligning risk management with business strategy
- Role of ERM in strategic planning and decision making
- Value creation model
Session 6: Risk Culture and Communication
- Developing a risk-aware culture
- Effective communication strategies for risk management
- Engaging stakeholders in risk processes
Wrap-Up Day 1
- Summary of the day’s learning
- Open floor for Q&A
- Preview of Day 2
Day 2
Session 7: Advanced Risk Management Topics
- Emerging risks and global trends
- Technological impacts on ERM (e.g., AI, Data Analytics)
- Case studies of successful and failed risk management
Session 8: Collaborative Risk Management
- Tools for collaborative risk management
- Facilitating risk management across departments
- Building and leading risk management teams
Session 9: Decision Making and Change Management
- Impact of ERM on organizational decisions
- Techniques for effective decision making under uncertainty
- Managing organizational change through ERM
Lunch Break
Session 10: Creating and Sustaining Risk Culture
- Steps to build a sustainable risk culture
- Training and internalization of risk practices
- Monitoring and adapting the risk culture
Session 11: Diagnosing and Treating Risk Ailments
- Identifying symptoms of common risk ailments
- Strategies to treat and prevent risk ailments
- Continual improvement and learning in ERM
Final Wrap-Up
- Recap of the key takeaways from the training
- Discussion on implementing the learned skills
- Feedback session and closing remarks
This training is interactive, including case studies, group discussions, role-plays, and practical exercises to ensure participants not only learn but are able to apply their knowledge effectively in their respective roles.
