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Risk Management

Information

  • Services SETA Accreditation Status: Full Accreditation
  • Unit Standard: “Monitor, assess and manage risk
  • Unit Standard ID: 252025
  • NQF Level 5, Credits 8
  • Duration: two days

COURSE OVERVIEW

Every organisation faces risks and uncertainties. For both survival and success, managing a range of risks are required and organisations need to have Risk Management strategies in place to protect vital assets. Risk Management is the process of monitoring, assessing and measuring risk.

Course Contents:

Demonstrating an understanding of potential risks to a unit

  • Understanding the concept of risk with reference to accepted theory and practice.
  • Identifying the factors that could constitute risks to a unit.
  • Exploring the role of organisational policies and procedures in relation to risk management.

Identifying potential risks and assessing the impact thereof in a unit

  • Identifying and documenting potential risk factors for critical processes in a unit.
  • Identifying and documenting possible scenarios that could constitute a risk.
  • Evaluating and recording the possibility of each scenario occurring for future use.
  • Performing and documenting an analysis to rate the impact of each scenario on a unit.
  • Determining and documenting priorities resulting from the impact analysis for implementation in the event of the risk materialising.

Developing contingency plans for managing risk

  • Developing and documenting contingency plans in accordance with the entity's policies and procedures.
  • Communicating contingency plans to the relevant stakeholders in accordance with the entity's risk management procedures.
  • Distributing and storing contingency plans in accordance with the entity's risk management procedures.

Testing and revising contingency plans

  • Testing contingency plans in accordance with the entity's risk management procedures.
  • Documenting recommendations on improvements to the contingency plans, in relation to the findings of the testing.
  • Revising contingency plans to incorporate recommendations from the testing, in accordance with the entity's policies and procedures.

ASSESSMENT OF LEARNERS

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” will be issued representing the credit values and NQF Level. Entry-level requirements for assessment according to the Unit Standard: Learners should demonstrate competence in Communication, Mathematical Literacy and Computer Literacy at NQF Level 4.

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