Risk as part of the plan
Risk culture and risk in strategy.
- Level
- Bitesize
- Learning time
- 1 hour 30 minutes
- Where
- Strategic Risk
- Price
- £39
When you step up to a higher level, what you paid in the last 12 months for lower-level courses inside the bigger course comes off its price, in proportion to how much of each is inside it, whichever topic it's from. Courses at the same or a lower level don't give credit against each other. A Focus course or above always costs at least £15. Read the full terms
Certificate of Completion
Overview and Outcomes.
Overview
Many organisations have a risk policy that nobody lives by, and that breeds cynicism. This module works through the eight principles of ISO 31000, the three lines of defence model, and the markers of healthy risk culture, including Amy Edmondson's psychological safety. Through the Post Office Horizon scandal and John Adams' risk homeostasis, it shows why culture, not policy, decides whether risk management works. A strategy that has not been stress tested against risk is a wish list. This module separates risk to strategy from risk from strategy, drawing on Joel McPhee, and introduces Kaplan and Mikes's three categories of preventable, strategy and external risk. It uses Cheryl Strauss Einhorn's framework on data types and biases, and the WorldCom case, to show how to build risk into strategic planning from the outset.
What you'll develop
In this Bitesize, you will develop the ability to:
- Explain the eight principles of ISO 31000 and test your own organisation against them.
- Describe the roles of the three lines of defence and the board, and identify the three markers of a healthy risk culture.
- Apply the lessons of the Post Office Horizon case and risk homeostasis to how new controls and concerns are handled.
- Distinguish preventable, strategy and external risk using Kaplan and Mikes's framework and match each to the right management response.
- Apply Einhorn's four step process to recognise salience bias, framing bias and the clustering illusion in a strategic decision.
The Modules.
1 hour 30 minutes of learning.
- 02Principles of Risk Management and Risk CultureMany organisations have a risk policy that nobody lives by, and that breeds cynicism. This module works through the eight principles of ISO 31000, the three lines of defence model, and the markers of healthy risk culture, including Amy Edmondson's psychological safety. Through the Post Office Horizon scandal and John Adams' risk homeostasis, it shows why culture, not policy, decides whether risk management works.42 min
- 03Risk and StrategyA strategy that has not been stress tested against risk is a wish list. This module separates risk to strategy from risk from strategy, drawing on Joel McPhee, and introduces Kaplan and Mikes's three categories of preventable, strategy and external risk. It uses Cheryl Strauss Einhorn's framework on data types and biases, and the WorldCom case, to show how to build risk into strategic planning from the outset.40 min
Go deeper, and pay only the difference
- You are hereBitesize, 1 hour 30 minutes, £39
- Next stepFocus, Building the risk picture, 3 hours 30 minutes, £69. Already own the Bitesize? You pay £30.
- Explore, Seeing the risk, 4 hours 30 minutes, £129. Already own the Bitesize? You pay £90.
- The whole topicImmerse, Risk worth taking, 9 hours 30 minutes, £249. Already own the Bitesize? You pay £210.
When you step up to a higher level, what you paid in the last 12 months for lower-level courses inside the bigger course comes off its price, in proportion to how much of each is inside it, whichever topic it's from. Courses at the same or a lower level don't give credit against each other. A Focus course or above always costs at least £15. Prices per person. Read the full terms
Also part of: When there is no right answer
Other Bitesize in the Strategic Risk topic
- Why risk belongs to leadersRisk management basics for leaders45 minutes£39
- Joining up the risk pictureEnterprise risk management and COSO1 hour 15 minutes£39
- How much risk is enough?Risk assessment and board risk appetite1 hour 15 minutes£39
- When reputations are on the linePublic sector risk and reputational risk1 hour 15 minutes£39
- What lies over the horizonGlobal and emerging risk case studies1 hour 15 minutes£39
- Odds, upside and downsideProbability and the risk-opportunity matrix1 hour 15 minutes£39
