A strategic approach to Risk Management provides an organisation with a structure to profile, identify, assess and manage risks from Top Level viz. Business Planning; Business Objectives;

The Laurels team uses a top-down approach, where our Experts work with risk management practitioners/board members / Top level of management through workshops to test, identify, and evaluate risks throughout the organisation at the same time providing the structure for ongoing management and updating.

The process includes identifying risks that could potentially impact, identifying any existing controls in place, deducing the risk rating, and formulating new risk treatments if needed

• Senior executives with 10 to 15 years of experience
• Senior functional leaders transitioning into general management
• Division-level managers who will soon assume corporate-level positions
• Individuals from larger global organizations — from any industry and any country
• New Entrepreneurs
• Potential Business Owners

• A structured approach to managing risk
• An understanding of the risks facing the entire organisation support for strategic and business planning
• Reassurance for all stakeholders that risks are being managed
• A focus for internal audit programs
• Explore how your organization’s competencies and shortcomings translate into strategic challenges and opportunities.
• Develop skills to build appropriate action plans.
• Achieve alignment between the competitive environment and your company’s strategy and organizational structure.
• Use analytical tools to identify and evaluate a firm’s strategy and its position in the industry.
• Develop effective frameworks for executing change management initiatives

Introduction

Risk management concepts

Benefits of strategic risk management

Integrating risk management within the project management life cycle

• Taking a leadership role in risk management
• Definitions of stakeholder risk tolerances and attitudes
• Developing a risk management plan
• Defining risk categories
• Defining probability and impact
• Developing a risk matrix
• Communicating risk information
• Critical success factors

Risk Identification

• Identifying types of project risks
• Critical success factors
• Who should be involved in risk identification?
• Tools & techniques for identifying risks
• Writing an accurate risk statement
• Developing a useful risk register

CASE STUDY EXERCISE

Risk Analysis

• Qualitative risk analysis defined
• Critical success factors
• Risk probability and impact assessment
• Risk urgency assessment
• Using the risk matrix
• Quantitative risk analysis defined
• Knowing when to quantify
• Risk impact calculation
• Expected monetary value – determining the risk reserves
• Decision trees
• Monte Carlo simulation & probability distributions

CASE STUDY EXERCISE

Risk Response Planning

• Response Planning
• Critical success factors
• Risk response strategies
• Developing the risk response plan
• Tools & techniques for risk responses
• Planning for Residual and Secondary Risks
• Response planning documentation

CASE STUDY EXERCISE

Controlling Risk

• Purpose and objective of risk monitoring and control
• The life cycle of a Risk
• Critical success factors
• Using contracts as a risk management tool
• Tracking risks using the risk register
• Implementing risk response plans

CASE STUDY EXERCISE

Risk Closure and Communication

• Purpose and objective of risk closure and communication
• Critical success factors
• Communicating risk status
• Creating a central repository of risk information – the “”Corporate Knowledge Base”””