Enterprise Risk Management
This course teaches the concepts of Risk Management in a simple to understand language. In addition to the basic definition and fundamental concepts related to Risk Management, this course also teaches how to implement Risk Management in an organization.
Five steps of managing risk include: Planning for Risk Management, Identifying Risks, Analyzing Risks, Planning Risk Response and Implementing, and Monitoring and Controlling Risks.
Identified risks are recorded in the risk register. These risks are analyzed using quantitative or qualitative techniques. One qualitative technique which is commonly used in Probability and Impact Matrix. I have explained this easy to use in detail in this course.
I have also included a template of Risk Register, which can help you getting started with the implementation of Risk Management in your organization.
Risks could be negative or positive (opportunity). What are the approaches to address positive and negative risks?
ISO 9001:2015 requires Risk-Based Thinking to be applied to all processes.