Fundamentals of Risk Management 3: Risk Identification
Risk identification is a process carried out to obtain a holistic view of the risks a company is exposed to.
This process aims to understand the company's overall risk profile and factor this into risk decision-making when working to achieve business objectives.
In our Risk Identification course, you'll learn about the different types of risks you face as well as the methods and techniques you can use to identify them.
- 45 Minutes
- All staff
- Based on best-practice risk management frameworks and suitable for global audiences.
Learning objectives
- Understand the importance of risk identification within the context of the
Management of Risk (MoR) framework - Identify various types of risks using different methods and techniques
- Describe risk in terms of events, causes and consequences
- Understand where and how to document the outputs of a risk identification exercise
- Recognise the key challenges involved when identifying risk
What can you expect your employees to learn?
Welcome
- Learning objectives
- How to complete this course
What is risk identification?
Categories of risk
- Financial risk
- Strategic risk
- Operational risk
- External risk
- Describing risk: Events, causes & consequences
- You decide: True or false?
- Additional ways to identify &consider risk
The MoR framework
- Scenario: Empitour's expansion plans
- Scenario: Fraud risks & company expansion
Using methods & techniques to identify risk
- Methods & techniques to identify risk
- Group communication techniques
- Scenario: What methods should Paul use?
Strengths, weaknesses, opportunities & threats (SWOT) analysis
- Using SWOT analysis to understand fraud risk.
PESTLE analysis
- You decide: PESTLE analysis
Documenting the outputs of a risk identification exercise
Challenges with identifying risk
- Avoiding too much focus on history
- Scenario: Recognising the challenges
Summary
Affirmation
Assessment
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Your questions, answered
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