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Introduction to Risk Management - Revised

Learn about Risk Management, and the different categories and essential terminology, tools and approaches.

Risk Management
Free Course
Risk management helps identify, assess, and manage problems and is essential for the success of any business. In this free online Introduction to Risk Management course you are introduced to the subject of Risk Management where you will learn the essential terminology, categories of risk, and risk management approaches and tools. The course teaches you about the importance of risk management which every business professional needs to know.
  • Duration

    2-3 Hours
  • Assessment

    Yes
  • Certification

    Yes
  • Responsive

    Yes

Description

Outcome

Certification

View course modules

Description

In recent times there has been a move towards holistic risk management, in response to natural disasters and events such as the September 11th, 2001 attacks. Today, management of personal and commercial risks involves coordination of regulatory actions across countries and governmental involvement at the enterprise level. Providing a single unambiguous definition of “risk” can be difficult. Most risk professionals define "risk", in terms of an expected deviation of an occurrence from what is expected. Many people use the word "risk", as a noun, to describe an enterprise, property, person or activity, that will be exposed to losses.

In this course you will learn the difference between 'diversifiable' and 'nondiversifiable' risks and terminology used by risk professionals, to refer to physical and intangible risks. The global financial crisis in 2008, underscores the urgency for studying risk management tools. Measuring the frequency and severity of losses, is essential to creating a "risk map". You will learn how to identify organizational risks using a risk map, where risks are measured using a frequency, severity and value grid. You will compare a risk map created for risk identification with one representing the current risk handling of an organization.

Risk is part of our daily lives and businesses. Learning how to manage risk and having the right insurance measures in place will make it easier for you when things go wrong. This Introduction to Risk Management course will introduce you to the subject of Risk Management where you will learn the essential terminology and categories of risk, as well as important risk management approaches and tools, so make sure to check it out and start learning how to control, prevent, and reduce losses that can result from risk.

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Learning Outcomes

After completing this course you will be able to:


  • Define Risk Management and discuss examples.
  • Describe different types of risk exposure.
  • Summarize perils and hazards associated with managing risk.
  • Discuss the importance of risk management methodology, to businesses and individuals.
  • Identify common organizational risks and create risk maps using a severity and frequency grid, to communicate the importance of each risk.
  • Compute the frequency and severity of losses.
  • Forecast risk management measures and conduct a cost-benefit analysis for loss control.
  • Explain risk transfer, avoidance and retention.
  • Describe solutions suggested by a risk management matrix.

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire official Certification, which is a great way to share your achievement with the world. Your Alison Certification is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certification for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certification is available to purchase through the Alison Shop. For more information on purchasing Alison Certification, please visit our faqs. If you decide not to purchase your Alison Certification, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certification pricing, please visit our Pricing Page.

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