Managing Risks
Course Details
Description
Risk management, quite literally means, managing risks. A risk can arise in any shape and manner – market uncertainty, credit risks, accidents or natural disasters. Managing risks involves assessing and identifying risks and then developing plans to mitigate the negative impact.
Risk management as a concept is not new. You can find literature references from as far back as 1920s. Most of the initial research in risk management was related to the finance and insurance sectors. But now, you can find risk management procedure and approach being utilised in every industry and sector.
Managing risks has long been a key part of project management and it has also become an increasingly important part of organisational best practices. Corporations have realised that effective risk management can not only reduce the negative impact of crises; it can provide real benefits and cost savings.
The risk management framework provided in this course is flexible enough for any organisation. You can apply it to a single project, or a department, or use it as a basis for an enterprise-wide risk management program.
