This four-day course will provide an overview about operational risks from business processes and silo perspectives anchored on safety, health, environments and quality (SHEQ). The focus is more on operational risks than financial risks. The course will allow the participants to look at risk management holistically and consider that every member of the organization plays key roles in risk management. Different risk analyses tools will also be introduced such as Fault Tree Analysis (FTA), Event Tree Analysis (ETA), Probabilistic Risk Analysis (PRA), Failure Modes, Effects and Criticality Analysis (FMECA) and Hazard and Operability Analysis (HAZOP).  This course will also use some engineering, statistical and business analysis tools.  It will also provide an overview on Business Continuity Planning (BCP).

Price ₱17,000

Description

Duration:             4 Days
Training Fee:      Php 17, 000

 

Rationale:

This four-day course will provide an overview about operational risks from business processes and silo perspectives anchored on safety, health, environments and quality (SHEQ). The focus is more on operational risks than financial risks. The course will allow the participants to look at risk management holistically and consider that every member of the organization plays key roles in risk management. Different risk analyses tools will also be introduced such as Fault Tree Analysis (FTA), Event Tree Analysis (ETA), Probabilistic Risk Analysis (PRA), Failure Modes, Effects and Criticality Analysis (FMECA) and Hazard and Operability Analysis (HAZOP).  This course will also use some engineering, statistical and business analysis tools.  It will also provide an overview on Business Continuity Planning (BCP).

 

Course Outline:

1. What are risks?
1.1 Dilemma in Defining Risks
1.2 International Standards of Defining Risks
1.3 Characteristics of Risk in Modern System
1.4 Establishing Guidelines for Defining Risks

Workshop

 

2. How is risk assessed?
2.1 A Glimpse of the Risk Management Doctrine
2.2 Hazard and Hazard Identification
2.3 Accidents, Threats and Exposure
Workshop
2.4 Introduction to Risk Analysis

2.4.1 Preliminary Hazard Analysis
2.4.2 Hazard and Operability Study
2.4.3 Fault Tree Analysis Workshop
2.4.4 Event Tree Analysis
2.4.5 Cause-Consequence Analysis
2.4.6 Sneak Circuit Analysis

Workshop

2.4.7 Probabilities Risk Assessment
2.4.8 Failure Modes, Effects & Criticality Analysis
2.4.9 Management Oversight and Risk Tree

 

3. How are risk tolerance limits accepted?
3.1 Establishing Risk Tolerance Limits

3.1.1 Formal Analysis
3.1.2 Professional Judgment
3.1.3 Bootstrapping

3.2 Iso-Risk Contours
3.3 Stairway Risk Plot
3.4 Risk Assessment Matrix
3.5 Evaluation of Probability and Severity
3.5.1 Interpretations of Severity and Probability
3.6 Use of Subjective Scales
3.7 Setting a Standard for Risk Acceptability
Workshop

 

4. How is risk managed?
4.1 Mathematical Justification of Enterprise- wide Risk Management
4.2 Counter-measures and Risk Mitigation Measures
4.3 Risk Options /Reducers/Selectors
4.4 Who Does the Analysis?
4.5 Who Does the System Safety Cost?

 

5. The Cost of Risk Assessment and Management

Workshop

 

6. Abuses Prevalent In Risk Assessment and Management

7. When are risks acceptable?
7.1 Definition of Terms
7.2 Benefit worth risk
7.3 Justifications of an enterprise-wide risk management program
7.4 Fundamental criteria
Workshop

 

8. When Strategies are applicable?
8.1 Functions of Strategy
8.2 Probability of Success
8.3 Strategy and Adversity
8.4 Which is the ‘winning’ strategy?

 

9. Decisions
9.1 Under certainty
9.2 Under Risk
9.3 Under Uncertainty – maximin
9.4 Under Uncertainty – maximax
9.5 Under Uncertainty – minimum regret criterion
9.6 Under Uncertainty – criteria of rationality
9.7 Burden of deciding
Workshop