Managing Business Risk CD-Rom Training Software: Risk Assessment & Control

Training Course Description / Outline

Managing Business Risk Training: Risk Assessment and Control teaches learners about risk identification and environmental scanning. Students in this training program will also learn about evaluation and control of risk within organizations and the methods for classifying various organizational risks.

Learn To

• Identify typical information sources used in an environmental scan.
• Identify the methods for measuring risk.
• Identify the components of risk evaluation.
• Identify the categories of physical asset exposures.

Training Audience

The target audience for this training program is Team Leaders, Directors, and Managers.

Total Training Time

2 to 4 hours

Training Objectives

Unit 1: Risk Identification (0.5 - 1 hour)

• Identify environmental risk sources.
• Identify primary risk environments for an environmental scan.
• Identify typical information sources used in an environmental scan.
• Utilize the environmental scanning procedure.
• Simulation Overview:
• In the simulation at the end of this unit, you will meet with Laura Dennis, a risk manager, to discuss the risks of opening a new manufacturing plant. Icon executives want you to identify the risks involved and how they would apply to the new project. Through your discussion with Laura, you will gain a greater understanding of risk sources and categorizing risks.

Unit 2: Risk Evaluation and Control (0.5 - 1 hour)

• Identify the characteristics of hazards.
• Identify the methods for measuring risk.
• Identify the components of risk evaluation.
• Match risk control strategies with their descriptions.
• Sequence the steps for risk control implementation.
• Simulation Overview:
• In the simulation at the end of this unit, you are a risk manager for Icon Industries. You will meet with John Cunningham, Chief Risk Officer. Recently, members of Operations Management have submitted a proposal to build new warehouse. The warehouse, which is to be located in Florida near the coast, is scheduled to be built in six months. Before groundwork can begin, the project proposal needs to be approved by John Cunningham. Through a series of questions, John will assess your knowledge of evaluating and mitigating the risks associated with the warehouse project proposal.

Unit 3: Risk Classifications (1 - 2 hours)

• Identify the categories of physical asset exposures
• Identify the categories of financial asset exposures.
• Identify legal liability exposures.
• Select risk exposure categories.
• Simulation Overview:
• In the simulation at the end of this unit, you will meet with Roger. Currently, Icon Industries uses a separate shipping company to transport computer hardware and software to customers and other Icon distributors. The monetary costs of using these separate shipping companies has recently exceeded the opportunity costs attributed to the creation of a new shipping company solely for Icon products. The Board of Directors has approved a project that would create TransCon, (a transcontinental shipping company owned and operated by Icon) but risks associated with asset exposures and liability exposures need to be assessed. Through your discussion with Roger, you will gain a greater understanding of risk exposures and categorizing risks.

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