Risk Identification and Assessment
Course Description
The Risk Identification and Assessment course is designed to provide students with a comprehensive understanding of the processes involved in identifying, analysing, and managing risks within various contexts. Additionally, the course combines theoretical knowledge with practical applications, equipping students with the skills needed to proactively identify, assess, and manage risks in their respective professional environments. The course covers fundamental concepts, methodologies, and tools essential for recognizing potential threats and opportunities that organizations may encounter.
Course objectives
The course will be guided by the following objectives:
- To Introduce and demonstrate various methods for identifying risks, such as brainstorming, checklists, scenario analysis, and historical data analysis.
- Develop a clear understanding of the difference between threats and opportunities in the context of risk management.
- Introduce risk matrices and other tools for quantifying and qualifying risks.
- To expose learners to the relevance of risk identification and assessment in insurance businesses.
Expected learning outcomes
By the end of the course, every learner should be able to:
- Systematically identify potential risks in different business or project environments.
- Demonstrate proficiency in qualitative and quantitative risk assessment methods.
- Create comprehensive risk registers that include identified risks, their potential impacts, and proposed risk responses.
- Analyse real-world case studies to identify risks, assess their impacts, and propose appropriate risk response strategies.
- Familiarize with different risk management frameworks (e.g., ISO 31000, COSO) and the ability to apply them to real-world scenarios.