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Risk Management System Mastery: Do More, Stress Less

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Risk is defined as a future uncertainty about digression or divergence from an expected outcome which measures the uncertainty that a person is willing to take such instability to realize a gain from a certain investment. It is something harmful or undesirable event that may or may not happen. This could include injury, abuse, or harm to the establishment’s operation, clients, employees, property, board members, or reputation. Hence, Risk management is the procedure or undertaking that an establishment or entity follows to protect itself from the said undesirable contingencies. It is not possible to absolutely eliminate all risks that may involve a certain engagement. It is of paramount importance that one demonstrates that it has recognized the risks that may attach and took or will take the reasonable precautions to prevent them from causing the harm undesirable.

This textbook will help you to:

  1. Understand what are the means and techniques applicable for risk types, identification, assessment etc
  2. Develops a better understanding of internal versus external risk
  3. Understand what are the risk management process
  4. Understand what are the opportunities that can be involved in tackling risk response planning
  5. Understand what are the types of risk management systems we can come across in the organization
  6. Develop a better understanding of countermeasures to measure each risk category: create a risk management plan
  7. Develop a better understanding of risk management methods and tools

Description

Table of Contents

  1. Introduction and meaning of Risk and Risk management

Chapter One

  1. Risk analysis: example of risk factor
  2. Internal risk VERSUS External risk
  3. Risk identification: participants
  4. Means and techniques applicable for risk identification
  5. Risk analysis: concrete risk events

Chapter Two

  1. Risk response planning in the organization
  2. Opportunities that can be involved in tackling risk response planning
  3. Risk management system: six main processes of risk management (overview in details)
  4. Six main processes of risk management: graphical representation of the process of risk management
  5. Risk management: risk management process: graphical representation of the risk management process

Chapter Three

  1. Risk management: risk management process: explanations
  2. Types of Risk management: Risk identification, risk assessment, risk options, risk avoidance, risk reduction, risk sharing, risk retention,
  3. Countermeasures to measure each risk category: Create a risk management plan
  4. Areas of risk management we can come across in practice
  5. Risk management activities as applied to project management.

Chapter Four

  1. Positive Risk Management: An overview in detail.
  2. Risk management and business continuity.
  3. Risk management four steps process: graphical representation
  4. Risk management method and tools in detail
  5. Basic risk management facilitation methods.

Chapter Five

  1. Risk management tools and methods in detail:
  • Failure Mode Effect Analysis (FMEA).
  • Failure Mode, Effects, and Criticality Analysis (FMECA).
  • Fault Tree Analysis (FTA).
  • Hazard Analysis and Critical Control Points (HACCP).
  • Hazard Operability Analysis (HAZOP).
  • Preliminary Hazard Analysis (PHA).
  • Risk Ranking and Filtering.
  • Supporting statistical tools

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