Risk management is often treated as a compliance issue that can be solved by drawing up lots of rules that all employees should follow. Many such rules are sensible and do reduce some risks that can severely damage a company. But rules-based risk management alone will not diminish either the likelihood or the impact of a disaster.
Rather than mitigating it, firms actually incubate risk through accepting deviance as the norm. They learn to tolerate minor failures and defects and ignore early warning signals that could alert them to imminent danger.
Good risk management involves a proactive position. This course teaches you how to initiate action to capture the stream of minor and major crises and come up with an adequate response to risk, rather than drift in the current.
Risk management measures have to do with cautious decision making. We may not be able to forecast the failure of a key supplier but we can draw up a strategy to cope with the risk of interrupted supplies by reducing our dependence on a single supplier.
This course answers a lot of practical questions related to risk management, such as how deep and sophisticated our approach should be. Should we use a decision tree, quantitative methods, or simulations? And what difference does it make?
Risk management is a core skill for every modern manager and an intuitive part of every well-managed business. This course will show you how to do it consciously, by creating strategies, methods, procedures, organizational structures and mechanisms to help service the risk management needs of your organization and guarantee trouble-free operations.