Introduction to Risk Management

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.