Key Topics
SESSION 1 ~ Managing Threats & Opportunities in a Unified Risk Process
Although current international standards use a broad definition of risk that includes both threat and opportunity, most organisations still fail to use the risk process to manage opportunities proactively. Simple process enhancements can ensure that both are treated with equal importance.
  • Uncertainty, risk, threat and opportunity – current definitions
  • Using a single risk process for both downside and upside risk
  • Two dimensional identification techniques for both threats and opportunities
  • Prioritising the worst threats and best opportunities
  • Developing appropriate strategies to minimise threats and maximise opportunities
  • Benefits of an integrated approach
SESSION 2 ~ Responding Effectively to Risk

Many businesses do well in identifying risks in their projects, and document these in Risk Registers, but then they fail to follow through to develop and implement effective risk responses. As a result, risk exposure remains unchanged and people think the risk process has failed. Risk responses must be appropriate, affordable and achievable, and need to be turned into action if they are to make a difference.

  • From analysis to management via response – the need for action to change risk exposure
  • Adopting a strategic approach to respond to risk
  • The eight basic risk strategies for threats and opportunities
  • Secondary risks – when responses make things worse
  • Ensuring effective action – the Seven A’s
SESSION 3 ~ Understanding and Managing Risk Attitude

Risk management is usually presented as a process supported by tools and techniques. It is however really about people making decisions when they are uncertain. These decisions are influenced by individual and group risk attitudes. Organisations need to be aware of the drivers of risk attitude and be able to manage these proactively in order to ensure that the risk process is fully effective.

  • Why people matter in managing risk
  • Defining risk attitude – the risk attitude spectrum
  • Basic risk attitudes and why they matter – risk-averse, risk-seeking, risk-tolerant, risk-neutral
  • The importance of perception
  • Influences on perception – the “triple strand”
  • Using emotional literacy to manage risk attitude
SESSION 4 ~ Using Risk Management for Strategic Advantage

Risk is not just about technical threats to projects and operations. It includes strategic opportunities for the direction of the business. Organisations should ensure a coherent and aligned approach to risk management across the business in order to maximise competitive advantage.

  • Putting projects in perspective – the organisational context
  • Hierarchical objectives and hierarchical risk
  • Managing risk across the enterprise through a coherent and aligned approach
  • Gaining strategic and competitive advantage through appropriate risk-taking and managing risk exposure