CE-CRSS-1001 - Operational Risk Management
Course Description
Risks are a part of any business or organization, and knowing how to manage risks that are likely to affect your business is key to the continued success of your organization. This course introduces risk management techniques including the strategies used to identify, control and manage risks, vulnerabilities and threats. The risk management model and risk assessment systems are introduced within case study applications across a range of hazards and risks.
Is This Course For You?
This course is designed for mid-career professionals interested in developing their risk management and organizational resilience skills. You can take this as a standalone course to implement your newfound knowledge as part of your current career path or continue onto the rest of the Organizational Risk, Continuity, and Resilience Mastery Certificate to transition to a career as a business continuity analyst.
What You’ll Learn
During this course, you’ll learn the foundations of risk management and the key vocabulary that’s used when talking about risk management. Along with vocabulary, you’ll also learn how to conduct a basic risk assessment, develop basic risk reduction treatments and strategies, and develop a risk register. In addition, you’ll get the tools you need to build your knowledge throughout the course by showing the interaction of different elements from the process as well as how to interweave those different elements together throughout a risk management process.
How You’ll Learn
Collaborative work is a key element in the risk management process, so you will work both independently and collaboratively with your classmates throughout the course to assess and manage risks in the case studies you’ll be looking at. You’ll use these case studies to apply the industry-standard Risk Assessment Process as well as the Risk Management Model so that you have practice creating risk management plans and processes based on real world scenarios.
Throughout the course you’ll work on interim assignments that build up into a final project where you will develop a risk register based on a case study. This final project will include a formal risk analysis matrix that provides a scale of risk assessment elements including risk identification, likelihood, and relative impacts with a discussion of each type of risk and treatment identified. You’ll also participate in virtual discussion boards throughout the semester to engage in vital conversations with your classmates around the risk management topics covered in the course.
Skills You Walk Away With
By the end of the course, you’ll be able to:
- Define risk and the risk management process, and identify key standards for risk management
- Determine how context, and scope influence risk management processes
- Identify, analyze and evaluate risks for treatment opportunities
- Assess risk treatments options and develop a risk treatment plan
- Apply risk management techniques to create a risk register