Understanding Risk Management and Establishing a Risk Management Program

Level: Intermediate

Why you need this course:
After completing this course, you’ll be able to analyze your organization’s risk management program goals from last year against the corresponding results standards and activity standards.

Upon successful completion of 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.
• Describe the pre-loss and post-loss goals of a risk management program and the possible trade-offs among these goals.
• Describe the risk management department structure, including:
• Departments with which the risk management professional should cooperate and the types of information these departments provide
• Communication of information into and out of the risk management department and organization
• Information management and risk management information systems used to improve decision making
• Describe the likely responsibilities and reporting relationships of a risk management professional.
• Describe the purpose and content of a written risk management policy statement.
• Explain how to monitor and, when appropriate, to take corrective action to improve the performance of an organization’s risk management program through results standards and activity standards.

Cost: $20 per Professional Development Hour (PDH). Information on Professional Development Hours (PDH) provided can be found here.

Understanding Risk Management and Establishing Risk Management Program Topics Include:

• Risk Management
• Costs and Benefits of Risk Management
• Pre-Loss and Post-Loss Goals
• Risk Management Department Structure
• Responsibilities and Reporting Relationships of a Risk Management Professional
• Purpose of a Written Risk Management Policy Statement
• How to Monitor and, When Needed, Take Corrective Action to Improve the Performance of an Organization’s Risk Management Program Through Results Standards and Activity Standards

Additional Course Resource

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Additional Knowledge Solutions

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