Risk Management Fundamentals
Why you need this course:
Risk management helps people and organizations to realize the opportunities and avert the threats associated with risk. Risk management is a process that risk management professionals use to assess and manage risk.
Upon successful completion of all eleven modules in this course, you should be able to:
- Describe risk management and its broad scope.
- Identify the costs and benefits of risk management for a particular organization and for the entire economy.
- Identify the steps in the risk management process.
- Describe the four types of loss exposures.
- Describe the methods of identifying loss exposures.
- Explain how to analyze loss exposures along the dimensions of loss frequency, loss severity, total dollar losses, timing, and data credibility.
- Describe the following risk control techniques: avoidance, loss prevention, loss reduction, separation, duplication, and diversification.
- Describe the risk financing techniques of transfer and retention.
- Explain how to select appropriate risk management techniques.
- Describe the technical and managerial decisions that must be made to implement the selected risk management techniques.
- Identify reasons why a risk management program may need to be revised.
Modules can be studied in any order you choose.
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