FoRM 5: Risk Assessment Course

 

The output of a risk assessment helps determine a firm's risk appetite and approach to risk management. Therefore, risk assessments are essential.

A risk assessment is a systematic process used to identify risks and evaluate key risk elements which include probablity, impact and the expected value or cost.

Our Risk Assessment Course will help you learn how to assess the probability and impact of risk as well as understand the different methods of analysing it.

Start a Free Trial

Chevron Skillcast chevron graphic
FoR 5 Risk Assessment

About this Course

Available as part of our Risk Management Library.

Learning objectives

  • Perform the overall risk assessment process
  • Estimate the probability and impact of risks
  • Assess the proximity and expected value of risks
  • Use different methods and techniques to assess risks, such as risk matrices and heat maps
  • Distinguish between inherent and residual risk
  • Understand how risk models work and how you can apply them
  • Create a summary risk profile and risk map for any risks you come across in your role

Course Contents

Welcome

- Learning objectives
- How to complete this course

What is risk assessment?

- The Management of Risk (MoR) framework

Categories of risk

- Assessing risk: The basics
- Examples: Probability
- Examples: Impact
- Assessing the probability of risk
- Case study: Probability assessment
- You decide: What are the chances?
- Assessing the impact of risk
- You decide: What impact would it have?
- Risk assessment matric
- Applying the risk assessment matrix
- Scenario: Calculating the overall score
- Assessing the proximity of risk

Using methods & techniques to evaluate risk

- EMV assessment
- Calculating the EMV: The manufacturing plant
- Calculating the EMV: The cloud computing company
- You decide: Calculating the EMV
- Summary risk profiles
- Plotting risks on heat maps
- Inherent versus residual risk
- You decide: Inherent or residual risk?
- Probabilistic risk models
- Probabilistic trees
- Sensitivity analysis
- You decide: Techniques to evaluate risk

Summary

Affirmation

Assessment

Course Specifications

Structure

Structure

Approximately 45-minute long e-learning course followed by a 10-question assessment.

Audience

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

Tailoring

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Try our courses for free...

Compliance Essentials Library is our best-selling comprehensive corporate training solution.

100+ e-learning and microlearning courses that help companies from SMEs to global corporates achieve compliance success.

Start a Free Trial

Chevron Skillcast chevron graphic
Compliance Essentials