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Risk Management

  • Duration: 2 Days

Services SETA Accreditation Status: Full Accreditation

This learning program is aligned to the following unit standard:

Monitor, assess and manage risk

Unit Standard ID: 252025

NQF Level 5, Credits 8

Learning Program Overview

Risk management is an integral component of effective business planning, effective management, corporate governance and assists management to act more confidently on future business decisions.

Any business or organisation faces risk and an effective risk management system helps maintain the safety of staff, protects business resources and increases the likelihood of successfully achieving businesses or organisational objectives. 

Organisations need to have risk management strategies in place, an effective risk management policy and using processes, methods and tools for dealing with risks the most cost-effective way.

This can be done by identifying and evaluating risks and implementing the strategies to deal with it before it affects the business.

This learning program provides delegates guidelines on how to identify and address potential risks in the four main risk categories: Strategic, compliance, financial and operational, with emphasis on monitoring, assessing, measuring, preventing or dealing with risk.

Learning Outcomes

Understanding potential risks to a unit

  • Identifying risks and hazards.
  • Risk management explained: benefits, concept, types and categories of risk.
  • Factors that could constitute risks to a unit.
  • Acts and regulations related to risk management.
  • The role of organisational policies and procedures in relation to risk management.
  • The risk management process.
  • The risk management plan.

Identifying potential risks and assessing the impact thereof in a unit

  • How to use the risk management process.
  • Identifying potential risk factors for critical processes:
    • Risk description.
    • Methods and techniques for conducting risk assessment.
  • Risk assessment tools
  • Using data: Risk inspections, questionnaires and incident report forms.
  • Identifying and documenting possible scenarios that could constitute a risk.
  • Performing  and documenting an analysis to rate the impact of each scenario.
  • Determining and documenting priorities resulting from the impact analysis for implementation in the event of the risk materialising.

Developing contingency plans for managing risk

  • Contingency strategies.
  • Developing and documenting contingency plans in accordance with the organisational policies and procedures.
  • Communicating contingency plans to the relevant stakeholders.
  • Distributing and storing contingency plans.

Testing and revising contingency plans

  • Testing contingency plans.
  • Documenting recommendations on improvements to the contingency plans.

Assessment

Learners who attend this training, will receive a “Certificate of Attendance” directly after the training. Additionally, learners can also be enrolled to participate in the assessment process at an additional fee. Assessment entails the completion of a Portfolio of Evidence (PoE) and if being assessed as competent, the learner will be awarded 8 credits on NQF Level 5. In this case, a “Certificate of Competence”, endorsed by Services SETA, will be issued representing the credit value and NQF Level. Entry-level requirements for assessment according to the Unit Standard: Learners should be competent in Communication, Mathematical Literacy and Computer Literacy at NQF Level 4.

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