The document discusses three levels of business risk assessment: strategic, project/program/process, and operational.
[1] Strategic risk assessment identifies threats and opportunities over 5-10 years and is performed by senior management. [2] Project/program/process risk assessment covers current organizational activities and is a blend of planning and implementation. [3] Operational risk assessment focuses on everyday workplace risks and their management.
MODULE 1:
Definition of Risk and uncertainty- Classification of Risk, Sources of Risk-external and internal. Risk Management-nature, risk analysis, planning, control and transfer of risk, Administration of properties of an enterprise, provision of adequate security arrangements. Interface between Risk and Insurance- Risk identification, evaluation and management techniques, Risk avoidance, Retention and transfer, Selecti9on and implementation of Techniques. Various terminology, perils, clauses and risk covers.
MODULE 1:
Definition of Risk and uncertainty- Classification of Risk, Sources of Risk-external and internal. Risk Management-nature, risk analysis, planning, control and transfer of risk, Administration of properties of an enterprise, provision of adequate security arrangements. Interface between Risk and Insurance- Risk identification, evaluation and management techniques, Risk avoidance, Retention and transfer, Selecti9on and implementation of Techniques. Various terminology, perils, clauses and risk covers.
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
Presenting this set of slides with name - Risk Management Module PowerPoint Presentation Slides. The stages in this process are Risk Management Module, Risk Management Framework, Risk Management Structure.
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
Presenting this set of slides with name - Risk Management Module PowerPoint Presentation Slides. The stages in this process are Risk Management Module, Risk Management Framework, Risk Management Structure.
Analysing business risks; management qualityGeoff Burton
Management quality is a central issue for lenders when assessing a business since the sustainability, strategy and performance of the business are directly affected by the decisions taken by management. In this presentation we take a look at seven important elements that have to be considered in an analysis of management quality.
Every business needs some resources in order to function. In this presentation we take a look at what these resources are and the kind of questions that should be asked by lenders to determine whether the resources are adequate and well managed.
Analysing business risks; market environmentGeoff Burton
When we assess a business as analysts, we want to get a sense of whether it’s likely to be sustainable into the future and so a vital aspect of the business that we need to understand is its place in the market – that is, does it sell something that someone actually buys and will continue to buy? We call this the market environment and in this presentation we take a look at these semi-external components of the business, those elements that are, to some extent, within the control of the business itself.
Enterprise Risk Management (ERM) is the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk on an organization's capital and earnings.
Enterprise Risk Management expands the process to include not just risks associated with accidental losses, but also financial, strategic, operational, and other risks.
In recent years, external factors have fueled a heightened interest by organizations in ERM.
Industry and government regulatory bodies, as well as investors, have begun to scrutinize companies' risk-management policies and procedures.
In an increasing number of industries, boards of directors are required to review and report on the adequacy of risk-management processes in the organizations they administer.
Since they thrive on the business of risk, financial institutions are good examples of companies that can benefit from effective ERM.
Their success depends on striking a balance between enhancing profits and managing risk.
In order for any enterprise to properly, effectively, and prudently manage their future growth, Business Strategy needs to be sustained by modern Enterprise Risk Management (ERM) principles and practices.
The Enterprise Risk Management discipline is not anymore a separate management profession or kinky management way, but rather it is a core competency that all organizations and executives must have in this Global Age. It should be a way of life for all.
Finance is the procurement (to get, obtain) of funds and effective (properly planned) utilization of funds. It also deals with profits that adequately compensate for the cost and risks borne by the business
NCV 4 Project Management Hands-On Support Slide Show - Module5Future Managers
This slide show complements the Learner Guide NCV 4 Project Management Hands-On Training by Bert Eksteen, published by Future Managers. For more information visit our website www.futuremanagers.net
As per PMBOK - "The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk. Risk may have positive effects or negative effects on the project “Schedule” and/or “Cost”. Positive risks are Opportunities and negative risks are losses or threats; remember both risks are uncertain “percentage of occurrence less than 80%”. Risk Management purpose is to manage (Plan and implement) these uncertainties.
2. Business risk assessment refers to the assessment of
risks and opportunities affecting the achievements of
the organizational goals and objectives.
Business risk assessed at three levels. Business risk
assessment at all three levels is essential to identify the
THREATS, OPPORTUNITIES and ALTERNATIVES for action
to achieve the organizational goal and objectives:
Strategic: guidance for a time period of 5 to 10 years
and assessment performed by senior management.
It is usually limited to assessment i.e. Identification,
Measurement and prioritization of risk.
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3. Project/Program/Process: for current period of
organizational activity. Project manager or process owner
is responsible for initial assessment and monitoring or
may also share with an oversight committee.
It is a mixture/blend of risk assessment in the planning
phase and risk management in the implementation phase.
Operational: in everyday operations like health and safety
issues. This performed by supervisory level or by
individuals or work team tasked with a particular
management.
It is usually focuses on risk management i.e. standard
workplace risks and hazards have been already identified
in strategic process of assessment; the task is to manage
risk to get the job done.
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4. Strategic Risk Assessment
1. Understanding of overall goals and objectives by
examining of fundamental documents and
classification of indentified goals and objectives into
SHORT, MEDIUM and LONG TERMS issues.
2. Choosing of strategic risks that are likely to be of
greatest importance:
◦ Operational risk is that entity will not meet its operational
goals and objectives.
◦ Fiscal risk is that deficiencies in expenditure control and
revenues will adversely affect agreed-up outcomes or
objectives.
◦ Reputation risk is that some action by the entity will impair
the ability to reach its goals and objectives.
◦ Other strategic risk, such as Policy, Regulatory etc.
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5. 3. Definition of various important and relevant
environments and uncertainties:
◦ Political / Government
◦ Technological
◦ Legal and Regulatory
◦ Competitors
◦ Customers, Constituents and stakeholders
◦ Physical
◦ Markets
◦ Suppliers
◦ Economic/Financial
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6. 4. Creation of series of matrices …… environments
(step 3) X identification based on time (step 1)
5. Using of various creative processes such as
brainstorming, imagine scenario of possible
threats and opportunities for each cell of matrix.
Thinking outside the box as much as possible.
6. Combining of the risk assessment for various
goals and objectives for each of the three time
horizon to get a composite strategic risk
assessment.
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7. Project Risk Assessment
It uses a different method to identifying risk
and opportunity. The method can be one or
combination from the following:
◦ Exposure analysis based on assets involved
◦ Environmental analysis based on study of changes
◦ Threats scenario by exploring various narrative
scenarios under numbers of different conditions,
especially for catastrophic events and frauds
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8. Observation or/and measurement of risk is a difficult
subject, therefore, risk factors are used that are either
observable or measurable characteristics of conditions
at risk.
A standard set of risk factors and criteria should be
established to measure and rank projects according to
their perceived risk.
Each project, program or process to be formally
assessed for risk should be scored by the project
initiator with the established risk factors based on
understanding of the project, program or process and
the perception of risk as described.
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9. Procedure of Project Risk Assessment
◦ Identify Risk: use one or more methods to identify
risk i.e. Exposure, Environmental and/or Threat
analysis.
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10. Measure Risk/Develop Alternatives:
◦ Read each factor and sub-criteria for familiarization with aim of
each.
◦ Consider the project, program or process using each of the
factors/criteria.
◦ Score each factor for the project, etc. on a scale of 1 to 5 (lowest
to highest) based on your subjective assessment of the
strength/weakness or presence/absence of the criteria.
◦ Sum the scores for the each factor and divide by the number of
factors to get the average score.
◦ High risk score are those with an average of 4.25 or more. Low
risk scores are those with an average score less than 2.25. These
are starting figures that can be adjusted for experience.
◦ Analyze high-risk areas and develop alternatives i.e. controls and
other risk management techniques, to deal with each of the high
risk components.
◦ Price out the alternatives and compare risk and cost.
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11. Control design: choose the most cost-effective
controls within reasonable prudence and
organizational tolerance for accepting risk.
Risk Management: monitor risk and hazards,
making adjustments to the project plan as
necessary to meet changing conditions.
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12. Operational Risk Management
Operational risk is the day to day mitigation of safety
and health risks of employees performing their jobs.
Operational risk also covers visitors and temporary
workers in the workplace and risk to general public due
to operations.
The focus of operational risk is on risk management.
Risk assessment usually done by a specialist involved in
workplace risk:
◦ Health Risk
◦ Safety Risk
◦ Environmental Risk
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