Course Summary:

This Risk Assessment and Management course by Magna Skills is designed to equip professionals with the knowledge and skills to identify, evaluate, and mitigate risks across various organizational contexts. The course focuses on practical tools and frameworks for assessing risks, developing risk management plans, and fostering a proactive risk culture. Through interactive sessions, real-world case studies, and hands-on exercises, participants will learn how to safeguard organizational objectives, ensure compliance, and enhance decision-making in both public and private sector environments.
This course is ideal for managers, auditors, project officers, compliance officers, and anyone responsible for organizational governance and control.

Course Objectives:

By the end of this course, participants will be able to:

1. Understand the principles and frameworks of effective risk management.

2. Identify and analyze potential risks affecting organizational performance.

3. Develop comprehensive risk assessment and mitigation strategies.

4. Implement monitoring and reporting mechanisms to manage emerging risks.

5. Foster a culture of risk awareness and accountability within their organization.

Course Outline

1. Introduction to Risk Management

   • Definition, scope, and importance of risk management

   • Types of risks: operational, financial, strategic, and compliance

2. Risk Management Frameworks and Standards

   • ISO 31000, COSO ERM, and other global standards

   • Adapting frameworks to different organizational settings

3. Risk Identification Techniques

   • Tools and approaches for identifying potential risks

   • Stakeholder engagement and brainstorming methods

4. Risk Analysis and Evaluation

   • Qualitative and quantitative risk assessment

   • Probability and impact analysis

5. Developing a Risk Management Plan

   • Setting risk tolerance and appetite

   • Prioritization and mitigation planning

6. Implementing Risk Controls

   • Designing control measures

   • Integrating risk management into organizational processes

7. Monitoring and Reviewing Risks

   • Key Risk Indicators (KRIs) and performance metrics

   • Continuous improvement and learning from incidents

8. Crisis and Contingency Planning

   • Managing emergencies and disruptions

   • Business continuity and recovery strategies

9. Communication and Reporting in Risk Management

   • Risk reporting frameworks

   • Communicating risks to management and stakeholders

10. Building a Risk-Aware Culture

    • Embedding risk thinking across departments

    • Leadership roles in promoting proactive risk management