Special Case Studies in Risk Management: Online Course

case-studies-risk-managementThe new Risk and Insurance Management Society online course I promised earlier this year is now up and running. It is called Special Case Studies in Risk Management.  In this course, I give full length presentations on important aspects of running Enterprise Risk Management.

This online course offers fresh perspectives on the risk manager’s role in implementing and applying risk methods in organizational settings. Detailed investigation and case studies will allow participants to hone their skills.

There are two key objectives: One is to alleviate the frustration that comes with having theoretical knowledge while being unsure how to implement. The second is to add to one’s repertoire of risk methods to address different situations. This course continues our mission to provide professional development online courses to risk managers who must think outside of the conventions and take on an enterprise role, whether in the public or private sector.

Benefits: become the process leader to accomplish the following:

  • prepare for emerging risks;
  • test the organization’s long-term strategy and  resilience;
  • expand and enrich the planning discussion;
  • create a successful ERM implementation plan;
  • understand and apply change management and motivation principles;
  • apply attention to detail in the risk matrix/risk register;
  • maintain the quality and rigor of the risk ID/assessment process
  • craft innovative win-win contract terms in major projects;
  • use model solutions to select the best policy option, implement multiple risk assessments, and resolve contradictory stakeholder agendas.

Who Should take this Course?

  • chief risk officers and risk managers
  • analysts and program leads responsible for conducting risk assessment
  • strategic and program planners
  • those charged with establishing or improving the ERM program
  • public and private sectors (principles are transferable)

 

Program Outline
The program is presented in 5 modules; the course takes 10-15 hours to complete. Each module consists of:

  1. introductory video;
  2. narrated slide presentation in two parts;
  3. case study article illustrating the principles, with audio/pdf commentary;
  4. tool/template download to help you apply the concepts;
  5. online multiple choice test.

Includes a master references file. Materials are made available in pdf and mp3 formats.

Module 1: Future Scenarios Planning
Gives risk managers a method to help them identify emerging risks, and prepare for the advent of low-frequency/catastrophic impact events – Black Swan risks. Walks through a city agency’s planning example. Future scenarios planning is a highly imaginative, yet structured methodology to identify significant risk in the long view.

Scenarios project a range of possible outcomes and enable people to think about the future in different ways.
~P. le Roux, case study article

Module 2: How to Overcome ERM Resistance
Change initiatives crucial to organizational success fail 70% of the time (Miller, 2002, Journal of Change Management). Risk managers’ common difficulties include: where to start a risk assessment of the organization, and how to overcome ERM implementation challenges at operational level. Understand the bureaucratic side vs. the realistic side of your ERM program. Seize upon the factors that motivate people to ensure the take-up and sustainability of the ERM program. Detailed 40-minute narrated presentation.

Module 3: Review of Risk Registers and Risk Templates
Investigate details of solutions for risk matrix design and usage. Attention to detail to
maintain quality of risk methodology. Review the risk register, risk categories, risk ranking matrix and descriptors, and consequence frameworks. Includes 5 sample template pdf downloads. Case study article discusses pitfalls of compliance.

Module 4 Creative Contracts Case Study
This is a non-legalistic study of contract risk management. Walk through a detailed case study of a major project in the health care sector. Presenting a novel solution in the realm of public-private partnerships, the story tells of replicable methods to allocate risk appropriately, craft unique provisions in uncharted territory – and paper the deal. Supplementary articles present both sides of the P3 issue.

Module 5 Complex Contexts
Risk assessments never follow neat patterns. Gives participants practice in interpreting and mapping out the administrative mess, even to begin a risk ID. Uses models abstracted from real life situations in order to: repair defects in planning; select the best policy option; resolve contradictory agendas; harmonize multiple delivery channels, etc. Detailed presentation of 6+ complex contexts and their solutions.

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Risk Management Surveys

2010-05-06 / How to Implement ERM / 0 Comments

Enterprise risk management is greatly helped by knowing how to do a risk assessment that obtains high quality results. I really think this is a key answer to difficulties reported in recent risk management surveys, and the best way to develop a culture that uses evidence-based and risk-optimized decision-making.

On my other site I’ve discussed the results of several risk management surveys 2008-2009, in an Introductory Presentation. It’s a veritable crisis, because many organizations don’t have confidence in their risk identification process, and implementation is often a dry compliance exercise. I’ve outlined a recommended approach in these posts:

The January 2010 Aon Global Enterprise Risk Management Survey (free download) reports improvement in overall ERM program maturity among 201 respondents, compared to results of three years ago (p.3). But is it the same target group? – 320 organizations participated in 2007. Selection bias would I think invalidate their conclusion. Anyway, the “hallmarks of top performing enterprise risk management programs” (p.3) are interesting even if only as exploratory research.

Well, 40% of this year’s respondents report “lack of tangible benefits” as an ERM implementation barrier; while lack of “skills and capability to embed ERM” (34%) and no “clear implementation plan” (28%) are also at fault (page 13).

In my next post I will give an example of a successful enterprise risk management plan. Comprehensive and rigorous risk ID and assessment are at the heart of it.

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Blog launch: risk management professional

2010-05-04 / Uncategorized / 0 Comments

This is blog about enterprise risk management – both ERM implementation in the organization, and how to do risk assessment in individual cases. I was Senior Manager, Enterprise Risk Management, in the provincial government (British Columbia, Canada) until the fall of 2008. I left to set up my own ERM consulting, and developed online risk management courses for RIMS – the Risk and Insurance Management Society, New York. There is still a lot left to say.

Risk assessment for business or public sector organizations needs to be a comprehensive and rigorous process, within a well-defined context. What we see (and studies show) is that people often don’t have great confidence in their risk identification process. Effective risk identification within a properly defined context quickly proves its value as a method to solve business problems.

Later there will be lots of opportunity to give views on related business topics, such as international business practices and innovation.

Thanks for taking the time out – comments welcome!

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