Description

The phrase Risk Management used to refer to insurance purchasing on behalf of a corporation. However, over the past two decades, the term has become associated with financial engineering and stock market derivatives. As a result, the concept has evolved significantly.

After several spectacular failures by firms and individuals using derivatives, academics and practitioners renewed their focus on risk management as a corporate decision-making process. Consequently, organizations began to view risk management as a strategic activity rather than a purely financial one.

Risk Management Overview

This course explains how risk management helps achieve a balance between realizing opportunities for gains while minimizing losses. In addition, it is an integral part of good management practice and a key element of corporate governance. The course describes essential theories and concepts that support the design and operation of efficient and effective risk management processes.

Furthermore, participants will learn how risks vary across organizations and how companies respond to them. Through the analysis of corporate governance styles and organizational culture, the course develops a deeper understanding of strategic decision-making and the relationship between governance, management practices, ethical considerations, and risk management outcomes.

Risk management is an iterative process. Each step, when completed in sequence, enables continuous improvement in organizational decision-making and overall business performance.

Certification

The American Academy® certification process, administered by the International Board of Standards (IBS), identifies individuals who meet rigorous professional standards. Moreover, certified professionals agree to uphold integrity, objectivity, competence, fairness, confidentiality, professionalism, and diligence when working with clients.

Objectives

The risk management course covers how to establish an appropriate infrastructure and culture. It also explains how to apply a logical and systematic method of establishing context, identifying, analyzing, evaluating, treating, monitoring, and communicating risks associated with any activity or process. Therefore, organizations can minimize losses and maximize gains.

At the completion of this course, participants should be able to:

• Conceptualize organizational risk management within business processes.

• Identify and analyze risks within operations and understand their broader implications.

• Improve operational risk levels through the application of methodologies and best practices.

• Support organizational objectives by providing a comprehensive perspective on risk management.

• Plan and implement tools for identifying, analyzing, eradicating, and communicating risks.

• Earn the CRMO certificate from the American Academy of Project Management (AAPM).

Contents

Risk Management Introduction

This segment defines the process of identifying vulnerabilities and threats to information resources used to achieve business objectives. It also explains how to decide on countermeasures to mitigate risks and eliminate potential threats.

Risk Management Processes

This section describes management processes as part of organizational governance, including the identification, assessment, and prioritization of operational risks. It also explains the coordinated application of resources to minimize, monitor, and control risk probability and impact.

Participants will learn to recognize issues such as:

• Identification and classification of information resources

• Assessment of threats, vulnerabilities, and likelihood of occurrence

Risk Indicators

Risk management must operate at multiple levels with diversified risk indicators, including:

• Operational: Risks affecting IT systems and infrastructure

• Project: Risks related to project complexity

• Strategic: Risks related to alignment between IT capability and business strategy

Loss Event Database

This segment explains intentional and unintentional actions that cause data loss. It also highlights organizational responsibilities such as:

• Preventing data loss

• Recovery procedures

• Cost implications

Effective Risk Management

This segment explains how to establish an effective risk management program, including:

• Defining the program’s purpose

• Assigning responsibilities

Risk Management Maturity

This segment describes risk management road-mapping using the CMM maturity level framework.

Case Study

Participants will review and discuss real risk management cases related to the course content.

Target Audience

• Managers involved in organizational operations

• Staff and executives involved in risk management or business process improvement

• Professionals working on business process automation

• Personnel from regulated industries such as banks and state-owned enterprises

Training Methods

Offline Training Method

• Conducted face-to-face for 8 hours/day over 2 days

• Uses presentations, discussions, simulations, roleplay, and case studies

Live Online Training Method

• Conducted live for 4 hours/day over 2 days

• Delivered via Zoom or Google Meet

• Includes the same interactive techniques

Participant Preparation

• Use a laptop instead of a smartphone

• Ensure a stable internet connection

• Prepare notebooks and writing tools

• Install required applications before training

Platforms Used

Materials can be accessed via Google Classroom, Google Drive, Email, or WhatsApp.

How to Join

Participants will receive a conference link. After clicking the link and following the instructions, they will be directed to the live session.

Examination Method

• Conducted on the third day or by mutual agreement

• Held online via Zoom or Google Meet

• Participants must complete 50 multiple-choice questions within 2 hours

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