Modern Risk Management I (MRM I) – 2 Days

Objectives

Participants will be able to:

  • Describe key concepts that modernize risk management – stakeholder focus, risk perception, risk tolerance, and integrated (Enterprise) Risk Management (IRM/ERM);
  • Develop and use key tools (e.g. Risk Matrix and Risk Tolerance Model) for more structured risk management; and
  • Participate in, and contribute to, structured risk management techniques.
MRM I includes a Reference Guide and ready to use copies of the models, templates and tools used in the course.

Dates

    Please Contact WC for details

Schedule

8:30 to 4:30

Location(s)

Please contact WC for details

Cost

$1,295 + HST

Includes training material and CD, certificate of participation, lunch, breakfast and refreshments

Register Online

About the Course

WC’s MRM I course provides a solid foundational understanding of risk management concepts. In addition, participants learn how produce risk-informed decision-making using simple and efficient processes, techniques and tools

In this two-day course, participants complete many hands-on exercises designed to enhance their skills in risk assessment. These new skills are applicable at the project, operational or strategic levels of an organization. Participants will learn techniques for:

  • Ensuring Excellence in Risk Identification;
  • Selecting of Priority Risks based on Preliminary Risk Assessment (and consolidating risks where appropriate);
  • Assessment Methodology Management and Stakeholders can Trust; and
  • Stakeholder Analysis.

Participants also learn how to develop mature and effective risk management by separate attention to the component parts of Risk Assessment (RA), Risk Management (RM) and Risk Communications (RC).

MRM I participants are provided electronic copies of the tools used in the course.

Course Outline

Introductions, Objectives, Agenda

Key Risk Management Concepts

  • Key Risk Concepts (two parts of risk; uncertainty and others)
  • Clearly Defining Risk
  • The Risk Management “Process”
    • Objectives of the Wiltshire Consulting (WC) Systematic Process
    • WC Process Overcomes Issues in Other High Profile Processes
    • Risk Assessment (RA), Risk Management (RM) and Risk Communication (RC) Components
  • Weighting to Impact
  • Timeline: Pre 1650, 1650 to present
  • Evolution in Overall Control Guidance
  • Federal, Provincial & Municipal Directions
  • Likely Upcoming Public Sector Directions

Understanding Risk Management in Modern Public Sector Organizations

  • Enterprise / Integrated Risk Management
  • What is ERM/IRM anyway
  • Key features of ERM/IRM
  • Principles, Vision, Frameworks and Strategy
  • Implementation Challenges

Understanding the Systematic Risk Management Process

  • Two techniques – Factoring and Systematic Assessment
  • Walkthrough of Each Technique – when are they used
  • Implementing Systematic Assessments in Modules

Practicing Risk Management – Preparing a “Context” before starting a Systematic Assessment

  • Preparation Checklist
  • Risk Matrix Exercise

“Hands-on” Practice

  • Facilitated Exercise using an e-Tool (eRiskScorecard)
  • Assisted Exercise using Manual Tools

Post Risk Assessment Session Strategies and Techniques

  • Building and Implementing a Risk Management Plan
  • Monitoring (Risk Management Plan, Risk Indicators)

Risk Communication

  • Social Science Teachings about Risk Communication
  • Stakeholder Analysis – Exercise
  • References, Internet Sources & Other WC Risk Management Training

    Evaluation and Wrap-up

    Target Audience

    • Managers and Staff in operations and projects facing significant risks;
    • Policy Analysts who need to better understand and communicate the risks associated with evolving programs or new initiatives;
    • Planning Staff who need to enhance the attention to risk in planning and priority setting exercises;
    • Managers and Officers who need to demonstrate due diligence in allocating resources and achieving organizational results.
    • Managers and Officers assigned to strengthening risk management practices across their branch, department or agency; and