Risk Assessment Methodologies for Corporate Risk Mapping for Strategic & Operational Planning

Synopsis

Survey Result:

According to a 2011 KPMG Survey, “Risk Assessments are often conducted after the decision has been made” and to make things worse “50% the Assessments cover a time horizon of less than 1 year.“

Modern Organisations have now to operate in global business environment fraught with exponentially increasing volatility and complexity. The interaction of many forces - social, cultural, political, financial, environmental, and legal - forms a landscape or topography of the organization and its value chain, which defies easy definition. There are risks regardless of whatever path and activities are pursued. The key question is: "How can I make confidently major decisions in a way that optimize the balance between opportunity and risk?” To answer that question, you will need to build a risk mapping and profiling model that relates clearly organizational performance with risk management.

This workshop will teach you well-established risk assessment methodologies such as RCSA and will also introduce the Enterprise Value and Risk (EVRA) mapping model. It will summarize the various methods of identifying, analysis risks and developing risk maps, highlight the benefits/limitations, and describes several applications, some pretty unconventional, for risk mapping in an organisation. Risk Mapping will enables top management to view the corporation holistically and systematically and at the same time focus on what really matters, the risks associated with the key sources of competitive advantage of your organization.

Learning Objectives

After attending this session, you should be able to:

• Establish a rigorous process with regards to consideration of risks and tradeoffs between risk and returns within your organization
• Build a better Risks identification process (Surveys/Interviews/workshops) so that no key threats/opportunities to your organizations are missed.
• Make threats and opportunities more visible and measurable so that they can be managed effectively and support effective Decision-making.
• Help to understand how to ensure the right focus for your Risk Management effort in your organization.
• Effectively allocate and using scarce resources to prioritized risk issues.
• Improve trust and confidence in the organization from your stakeholders through continuous engagement process building the foundation for successful ERM implementation.

Workshop Outline

• Introduction to Risk Assessment under the ERM Framework
• Assessment for Strategic, Operational, Financial and Hazard Risk Isssues
• How and when to integrate a Risk Assessment in corporate planning and normal operational decision-making processes.
• How to Conduct Risk Assessment Surveys, Interviews & Workshops
• The RCSA – Risks & Controls Self-Assessment Methodology recommended by ISO
  • The Risk Assessment Process under RCSA
  • Analysing the Risk Profile with the Risk Matrix and Heat Maps
  • Defining the Key Risks List & Documenting the Risk Register
  • Advantages & Limitations of RCSA
• Beyond the Box: ARiMI EVRA – Enterprise Value Risk Assessment
  • The Risk Identification Process under EVRA (CCS and the Risk Tree) from Business Model to Operations
  • How and when to use Qualitative and/or Quantitative approaches for Risk Analysis
  • How to Assess ‘tail’ risks i.e.Black Swans & Transformational Opportunties
  • Buidling a Dynamic Risks/Opportunities Dashboard

Tool Box: A Case Study

• Risk Maturity Questionaire
• Example of Risk Management Framework and Policy
• ERM standard guides

Testimonials

“An eye-opener.. I have been to many Risk Assessment workshop and for the first time, I learn a systematic and practical methodology that really do the job..”. Corporate Strategy Manager, Manufacturing firm