BUSINESS RISK: IDENTIFICATION, EVALUATION, AND MANAGEMENT

Course Objectives
• Understand the concept of business risk and its impact on organizations
• Develop skills in identifying and assessing various types of business risks
• Learn strategies and techniques for managing and mitigating business risks
• Gain knowledge of best practices in risk management frameworks and standards
Course Content
Introduction to Business Risk
• Definition and types of business risk
• Importance of risk management in organizations
Risk Identification
• Techniques for identifying risks (e.g., brainstorming, SWOT analysis, risk interviews)
• Internal and external sources of risk
Risk Assessment and Evaluation
• Qualitative and quantitative risk assessment methods
• Risk prioritization and ranking
Risk Management Strategies
• Risk avoidance
• Risk reduction
• Risk sharing
• Risk acceptance
Risk Management Frameworks and Standards
• ISO 31000 Risk Management Standard
• COSO Enterprise Risk Management Framework
• Other relevant frameworks and standards
Risk Monitoring and Review
• Continuous risk monitoring and review processes
• Key risk indicators (KRIs) and risk triggers
Case Studies and Best Practices
• Real-world examples of effective risk management
• Lessons learned and best practices in risk management
Integrating Risk Management into Business Processes
• Aligning risk management with organizational objectives
• Embedding risk management into decision-making processes
Ethical and Legal Considerations in Risk Management
• Ethical principles in risk management
• Legal and regulatory requirements related to risk management

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 4th – 7th Feb,2025
2ND BATCH: 3rd – 6th June,2025
3RD BATCH: 21st – 24th Oct,2025