Seeing the risk
Risk principles, strategy, ERM and assessment.
A half day on seeing risk clearly and bringing it into strategy: risk culture, enterprise risk management, assessment tools and a board appetite that shapes decisions.
- Level
- Explore
- Learning time
- 4 hours 30 minutes
- Where
- Strategic Risk
- Price
- £129
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, or Certificate of Completion and Assessment with a short assessment
Overview and Outcomes.
Who It's For
Senior leaders, risk owners and board members
Overview
This programme is a half day dive into how organisations see risk clearly and bring it into strategy. It moves from the ISO 31000 definition and Knight's distinction between risk and uncertainty, through the principles of risk management and healthy risk culture, to Kaplan and Mikes's categories and building risk into strategic planning. It explains enterprise risk management and the COSO 2017 framework, looks ahead to black swans and emerging risk, then turns practical with risk identification and assessment tools before defining appetite, tolerance and capacity for the board. Cases range from Blockbuster and WorldCom to the Airbus A380 and Wells Fargo.
Aims
This programme aims to help leaders build a clear, shared and strategic view of risk across their organisation, linking culture, enterprise risk management and practical assessment to a board appetite that genuinely shapes decisions rather than sitting unread in a policy.
In summary, you will be able to:
- Explain the core concepts of risk, the principles of ISO 31000 and the COSO 2017 components, and how they combine into one organisational risk picture.
- Apply practical tools, including Failure Mode and Effects Analysis, the risk matrix and Kaplan and Mikes's categories, to identify, assess and respond to risks to strategy.
- Assess your organisation's risk culture and risk appetite statement, and plan the shift towards adaptive risk sensing and board-level monitoring.
What you'll develop
Across this Explore, you will develop the ability to:
- Define risk, uncertainty, risk appetite and risk register precisely, and explain why risk is the effect of uncertainty on objectives.
- Explain the eight principles of ISO 31000 and test your own organisation against them.
- Distinguish preventable, strategy and external risk using Kaplan and Mikes's framework and match each to the right management response.
- Explain the three characteristics of a black swan and why such events expose the limits of prediction.
- Use Failure Mode and Effects Analysis and the Structured What If Technique to identify risks precisely, asking how a process could fail rather than whether it will.
- Distinguish risk appetite, risk tolerance and risk capacity and explain why a board needs all three.
Built from 4 parts.
4 hours 30 minutes of learning.
- 01Why risk belongs to leadersRisk management basics for leadersBitesize1 module
- 02Risk as part of the planRisk culture and risk in strategyBitesize2 modules
- 03Joining up the risk pictureEnterprise risk management and COSOBitesize2 modules
- 04How much risk is enough?Risk assessment and board risk appetiteBitesize2 modules
Go deeper, and pay only the difference
- You are hereExplore, 4 hours 30 minutes, £129
- The whole topicImmerse, Risk worth taking, 9 hours 30 minutes, £249. Already own the Explore? You pay £120.
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