About the Course

This 5-day Advanced Risk Management and Auditing training course develops the understanding, skills, methods, and behaviours required to proactively manage risk across your operations – helping to ensure the organisation's day-to-day operational continuity and long-term sustainability. Based on a proven framework and introducing best practice techniques, it will present a pragmatic approach to balancing risk and reward in today's world of technological innovation and global competition. Likewise, this training course will provide insight into Risk Governance and a systematic methodology to identify, quantify, and mitigate risks that threaten to disrupt the organisation.

The delegates will acquire a profound understanding of the human, process, systems, and organisational causes of risk and how to minimise them, including insight into the psychology of risk prevention and the need to combat external threats. It will enable the delegates to observe their operations and take steps to plan and manage risk within their workplace.

Core Objectives

The delegates will achieve the following objectives:

• Appreciate the benefits of practical Operational Risk Management
• Paradigm an effective Risk Management Plan
• Conduct Risk Identification and Risk Analysis
• Plan a response to risk and take action to mitigate it
• Implement an Operational Risk Management Framework within the organisation
• Document, report, and manage Operational Risk Auditing
• Apply a systematic approach to Risk Management within the operations

Training Approach

The delegates will learn by active participation through inspiring presentation tools and interactive techniques presented in a lively, enthusiastic and exciting style; they will participate in practical exercises, case studies, and an EMS step-by-step practical workshop.

This training course is presented using PowerPoint presentations and videos, and case studies enhance the learning outcome. Active participation will be encouraged so the delegates can gain through the group's personal experiences.

The Attendees

This training course is aimed at a wide variety of operational professionals. Any manager responsible for maintaining the Risk culture and implementing control methods would find this course topic of great interest.

Likewise, it will be valuable to the professionals but not limited to the following:

• Senior Operations Managers
• Risk Management Professionals
• Operations Managers
• Senior Team Leaders
• Maintenance Managers, Engineers, and Technicians
• Operations Planners

Daily Discussion

DAY ONE: THE FUNDAMENTALS OF OPERATIONAL RISK MANAGEMENT

• What is Risk and Operational Risk Management?
• The Benefits of Operational Risk Management
• The Operational Risk Management Framework
• The 6-step Operational Risk Management Cycle
• Enterprise Risk Management (ERM)
• Risk Identification Process
• Risk Management Principles and Standards
• Risk Assessment

DAY TWO: RISK MANAGEMENT METHODS

• The Challenges of Risk Management
• Operational Risk Management in the Corporate Structure
• Probability and Statistics for Operational Risk Management
• Risk Modelling
• Failure Modes and Effects
• Risk Measurement
• Risk Maturity Level and Risk Appetite
• Risk Response

DAY THREE: RISK GOVERNANCE

• Risk Controls
• Key Risk Indicators (KRIs)
• Qualitative and Quantitative Risk Analysis
• Risk Actions
• Risk Reviews
• Risk Governance: Three Lines of Defence
• Risk Oversight, Documentation, and Reporting
• Project Risk Management

DAY FOUR: IMPLEMENTING OPERATIONAL RISK MANAGEMENT

• Overcoming the Hurdles to Risk Management
• Risk Management Communication
• Setting a Risk Management Vision
• Stakeholder Ownership of Risk Management
• Instilling a Risk Management Culture
• International Attitudes to Risk
• Embedding Operational Risk Management

DAY FIVE: CONDUCTING RISK-BASED AUDITS

• The Risk-Based Audit Process
• Creation of Effective Audit Checklists
• Communications during Audit
• Risk and Quality Documentation Review
• Key Personnel Interviews
• Physical Site Risk Observation and Monitoring