The key to any successful operation lies in the effective management of risks; the ability to seize opportunities, minimise threats and optimise results. However, risk management is too often treated as a reactive process, or worse, not done at all. In this Operations Risk Management and Mitigation training course, you’ll work through the proactive approach to both sides of risk: threats and opportunities. The approach applies a proven six-step methodology of risk planning through to identification, analysis and control.
This training course is designed to help operations teams and businesses accurately and efficiently identify, quantify, and mitigate risks that threaten to disrupt, or derail, their operations. The training course content is applicable to all industry sectors where operations form the cornerstone of their business and are of a value and nature that necessitate formal risk management. It is tailored for all personnel who are either involved in, or responsible for, the successful delivery and continuity of these operations.
The training course is based on the latest PMBOK 6th edition and also applies the principals of ISO 31000:2009, “Risk Management - Principles and Guidelines” and ISO 31010:2009, “Risk Assessment Techniques”.
This training course will feature:
Risk Management Planning
Operations Context and Risk Boundaries
Risk Identification
Risk Analysis & Evaluation
Risk Response Planning, Implementation & Control
Applied Operations Risk Simulation
What are the goals?
By the end of this training course, participants will be able to:
Develop an overview of the Risk Management Process
Learn to identify risks that affect operational safety, time, cost and quality
Apply useful techniques to identify, analyse and mitigate risks throughout the operations life-cycle
Learn how to create an effective risk monitoring plan and risk management strategies
Use a practical, six-step process to manage operations risks
Develop a risk management budget based on Expected Monetary Value (EMV)
Who is this training course for?
This training course is tailored for all operations professionals and managers who are either involved in, or responsible for, the continuous and safe operability of their facilities. Whether you are engaged as a Plant Manager, Operations Supervisor, Maintenance Technician or any other operational specialist, understanding how to identify, assess and manage operational risk is crucial to both your own daily job tasks and the continued safe operability of the facilities you work in.
This training course is suitable for a wide range of professionals but will greatly benefit:
Operations team leaders, supervisors, section heads and managers
Business and operations professionals who have an interest in risk management
Maintenance managers, engineers and technicians
Technical professionals involved in operations start-up, maintenance and shut-down
Business administrative, procurement and support staff
All personnel involved in carrying out operations work assignments
How will this training course be presented?
The training methodology will incorporate both theory and skill training components, utilizing traditional lectures, hands-on exercises, group discussions and case studies.
Course Outline
Day One: Risk Management Framework and Planning
The Six Risk Management Processes
Purpose & Benefits of Risk
Responsibilities in Risk Management
Integrating Risk Management into the Operations Management Process
Risk Management Planning
Risk Planning Process
Day Two: Risk Identification Processes
Operations Context & Stakeholders
Risk Identification Inputs
Risk Identification Tools & Techniques
Consequential Risk Identification
Risk Identification Outputs
Risk Planning & Identification Exercises
Day Three: Risk Assessment and Quantification Processes
Operations & Maintenance Estimating Techniques
Schedule Diagramming - Critical Path Method (CPM)
Program Evaluation & Review Technique (PERT)
Qualitative Risk Analysis
Quantitative Risk Analysis
Risk Assessment Exercises
Day Four: Risk Response Plan Development
Risk Prioritisation
Risk Response Strategy Guidelines
Response Strategies for Threats & Opportunities
Response Planning & Analysis
Alternative Responses & Response Validation
Risk Response Planning Exercises
Day Five: Risk Response Implementation & Control
Risk Control Guidelines
Risk Control Inputs
Risk Control Tools & Techniques
Risk Control Outputs
Risk Reporting & Documenting
Risk Management Simulation
The certificate
Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course.