We can’t escape risk – it’s all around us. Many people are also becoming aware that risk is more complex and systemic than it has ever been. As we become more aware of risks – such as the risks of rising world temperatures and pollution in general – the more we become concerned about the causes of those risks and how to manage them. We are generally more concerned about the impacts of human existence on the environment and about the effects of racial and religious intolerance on world peace.
This unit provides an overview of risk and risk management planning in organisations.
Upon completion of this unit, you learn the following:
What is risk management?
What are the benefits of risk management, and where can it be used?
What is the relationship between risk management and the other plans and objectives of my organisation?
What processes are involved in risk management?
How can I develop and document a risk management plan?
How can I communicate this plan to relevant stakeholders?
This topic will support you in developing the following skills required to develop a risk management plan:
Analyse and interpret the strategic position and policy on risk management
Audit the organisation to identify risk management context and potential areas of risk
Analyse organisational capability to reduce/control the likelihood of both incidents and consequences
Develop a risk register incorporating a probability/consequence matrix
Identify access to external specialist assistance within the plan