Strategic Risk Management Training Course: Integrating Risk For Organizational Success

Introduction:

Effective risk management isn't just about avoiding problems; it's about strategically leveraging risk to achieve organizational goals. This comprehensive training course on Strategic Risk Management equips participants with the knowledge and practical skills to integrate risk considerations into strategic planning and execution. Participants will learn how to identify and assess strategic risks, align risk management with organizational objectives, and use risk information to make better decisions. This course empowers individuals to proactively manage risks, capitalize on opportunities, and contribute to long-term organizational success.

Target Audience:

This course is designed for professionals across various industries and roles who are involved in or will be involved in strategic planning, decision-making, and risk management, including:

• Senior Leaders and Executives
• Strategic Planning Professionals
• Risk Management Professionals
• Business Unit Managers
• Project Managers
• Anyone seeking to enhance their understanding of strategic risk management

Course Objectives:

Upon completion of this Strategic Risk Management training course, participants will be able to:

• Explain the connection between risk management and achieving organizational goals.
• Describe the process of identifying and evaluating potential threats and opportunities at the strategic level.
• Integrate risk considerations into the development and implementation of strategic plans.
• Use risk information to make informed choices about resource allocation and investment.
• Create a framework for managing risks that are specific to the organization's strategic goals.
• Effectively communicate information about strategic risks to key stakeholders.
• Monitor and adjust risk management strategies as the organization and its environment evolve.
• Foster a culture where risk is considered as a part of strategic conversations and decisions.
• Use risk management to improve the likelihood of achieving organizational objectives.
• Enhance the organization's ability to adapt and thrive in a complex environment.

DURATION

5 Days

COURSE CONTENT

Module 1: Introduction to Strategic Risk Management

• Defining strategic risk and its importance.
• The link between risk management and organizational success.
• Distinguishing strategic risks from other types of risks.
• The role of strategic risk management in achieving objectives.
• Key concepts and terminology in strategic risk management.

Module 2: Aligning Risk Management with Organizational Strategy

• Understanding the organization's mission, vision, and values.
• Identifying strategic objectives and key performance indicators (KPIs).
• Connecting risk management to the strategic planning process.
• Developing a risk appetite and tolerance statement at the strategic level.
• Integrating risk considerations into strategic decision-making.

Module 3: Identifying Strategic Risks

• Environmental scanning and analysis (PESTLE, Porter's Five Forces).
• Analyzing internal strengths and weaknesses.
• Identifying emerging trends and potential disruptions.
• Stakeholder analysis and engagement.
• Using scenario planning to explore potential future states.

Module 4: Assessing Strategic Risks

• Qualitative risk assessment methods (e.g., risk matrices).
• Quantitative risk assessment methods (e.g., Monte Carlo simulation).
• Analyzing the potential impact of strategic risks on organizational objectives.
• Prioritizing strategic risks based on likelihood and impact.
• Using risk assessment to inform strategic choices.

Module 5: Developing Risk Response Strategies

• Mitigation strategies for strategic risks.
• Transfer strategies (e.g., insurance, partnerships).
• Acceptance of certain strategic risks.
• Avoidance of high-risk strategic initiatives.
• Developing contingency plans for key strategic risks.

Module 6: Integrating Risk Management into Strategic Planning

• Incorporating risk assessments into the strategic planning process.
• Developing strategic options that consider risk and reward.
• Using risk information to inform resource allocation decisions.
• Aligning risk management with performance management systems.
• Creating a risk-aware culture within the organization.

Module 7: Implementing Strategic Risk Management

• Defining roles and responsibilities for strategic risk management.
• Establishing clear communication channels and reporting mechanisms.
• Developing risk management policies and procedures.
• Providing training and development for risk management skills.
• Integrating strategic risk management into existing management processes.

Module 8: Monitoring and Reviewing Strategic Risks

• Establishing key risk indicators (KRIs) for strategic risks.
• Monitoring the effectiveness of risk response strategies.
• Regularly reviewing and updating the strategic risk management plan.
• Reporting on strategic risks to senior management and the board.
• Using risk information to inform strategic adjustments.

Module 9: Leading Strategic Risk Management

• The role of leadership in setting the tone for strategic risk management.
• Building a risk-intelligent culture.
• Communicating effectively about strategic risks.
• Empowering employees to identify and manage risks.
• Promoting continuous improvement in strategic risk management practices.

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 5 working days before commencement of the training.