• Class and Course

    Enterprise Risk Management - Principles and Practice

    A methodology to embed Risk Management processes within the Governance, Risk and Compliance model of organizations will be presented. The practical implementation of risk management processes outlined in ISO 31000 and the COSO framework will be presented. The role of the Enterprise Risk Management function in support of the 3-Lines of Defense Governance Model will be discussed. Throughout the class, case studies will be discussed and group exercises will be conducted.


    Specific emphasis will be placed on the subtilties of the establish context, risk identification, analysis, evaluation, treat, and, monitor and control steps of the risk management process. The use of tools such as bow-tie diagrams, control effectiveness matrices and risk assessment matrices will be presented.


    Risk Management topics including the development and use of Key Risk Indicators and web-based risk register tools will be covered. The role of risk management in support of Operational Excellence processes will be discussed.

        • Introductions and creation of working teams
        • Risk Management Definitions
        • The 3 Lines of Defense Model
        • Case Study – The Texas City Disaster
        • The Six Step Risk Management Process
        • Step 1 – Establish Context
        • Group Exercise
        • Step 2 – Risk Identification
        • Group Exercise

        • Step 3 – Risk Analysis
        • Control Effectiveness Evaluation
        • Use of Bow-Tie Diagrams
        • Credible Worst Case Scenario
        • Risk Assessment Matrices
        • Population of Risk Heat Map
        • Group Exercise
        • Step 4 – Risk Evaluation
        • Risk Manageability
        • Terminate, Treat, Tolerate, Transfer
        • Group Exercise

        • Step 5 – Risk Treatment
        • Risk Treatment Plans
        • Group Exercise
        • Step 6 – Monitor and Control
        • Key Process Indicators
        • Process Enhancements
        • Group Exercise
        • Risk Reporting
        • Operationalizing the Six Step Risk Management Process
        • Corporate Policies, General Instructions, Guides
        • Piggybacking on Existing Processes e.g. Operation Excellence

        • Risk Management Training
        • Risk Management Plan document
        • Risk Register Tools (In-House vs COTS)
        • Top Corporate Risks
        • Risk Reporting Dashboards
        • Key Risk Indicators
        • Group Exercise
        • Management Decision Support
        • Levels of Budget Accuracy
        • Basis of Cost Estimates
        • Risk Ranging Sessions
        • Outputs of Analysis

        • Group Exercise (Risk Management Plan, Managing Top Corporate Risks, Risk Escalation, Sample Key Risk Indicators, Embedding risk management process within organizations)
        • Risk Management for Affiliates and Joint Ventures
        • Parking Lot topics and Wrap Up

    This course will be suitable for technical experts and individuals in business support roles such as IT, project management, change management, operation excellence and risk management.

    • Establish Context, Risk Identification, Risk Analysis, Risk Evaluation, Risk Treatment and Risk Monitoring and Control
    • Managing Top Corporate Risks
    • Risk Management for Corporate Decision Making

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