Risk Management Courses

Risk Management Courses

Take your first step toward an incredible new career today, with high-quality distance learning risk management courses from Oxford Home Study College.

Defining Risk Management

Risk is generally defined as the probability of any given event taking place, multiplied by its consequences. A highly likely outcome with harmful consequences representing a severe risk – an unlikely event with no real consequences constituting a low risk.

For every action taken in a professional and private setting alike, there is the potential for the outcome to prove positive or negative. By measuring and predicting the likelihood of one result over the other, we are able to proactively manage risks and work toward favourable outcomes.

Risk management therefore can therefore be defined as a combination of processes used to identify, assess and prioritise risks, in order for measures to be implemented to reduce the probability of negative events. 

Why Manage Risks?

In a business setting, every organisation spanning every sector faces the threat of multiple risks at all times. Risk classifications are numerous and include political risk, financial risk, technological risk, environmental risk and more.

Risk management represents a critically important element in the strategic management structure of every business. Proactively managing risk enables the business to pre-empt and prevent any and all potentially negative outcomes, which may stand in the way of achieving short- and long-term goals alike. Potential risks are identified, studied and ultimately controlled by risk managers.

High-quality risk management plays a key role in affiliating the success or otherwise of the business. It champions a proactive approach to operations where the unexpected is both factored in and planned for. The probability of failure is dramatically reduced and the company’s future isn’t left in the hands of fate.

As risk is both constant and continually shifting, risk management represents an ongoing process that is intrinsically intertwined with every other element of the core management strategy.

The Benefits of Risk Management

To operate without comprehensive risk management is to welcome chaos and disaster. To expect the unexpected however is to know exactly how to deal with it, should it arise.

The primary benefits of quality risk management include:

  1. Help for Senior Management and Business Owners. Risk management plays a direct role in influencing and altering the decisions made by senior management. From resource allocation to investment opportunities and more, key business decisions are made on the back of research, analysis and facts – not unsubstantiated predictions.
  2. Improved Efficiency. The careful analysis and control of risks allows the business to focus its efforts and resources of achievable goals and beneficial outcomes. By ensuring minimal time is wasted on ventures to the contrary, risk management directly contributes to improved efficiency.
  3. Encouraging Innovation. Innovation is in every respect a process fraught with risks. Quality risk management encourages innovation by monitoring and analysing all potential outcomes, helping steer efforts toward success.
  4. Strong and Self-Reliant Working Environments. To meticulously manage risks internally is to build a brand or business of superior strength and self-reliance. It means not having to rely on external parties and service providers to look after the interests of the business, or leap to the rescue should the unexpected occur.
  5. Improved Brand Reputation and Authority. Above all else, risk management leads to stronger business performance, greater efficiency and the kind of brand reputation that builds real authority. From shareholders to peers to the everyday consumer, it’s natural to resonate with a business with a clear regard for its own performance and long-term viability.

Scope of Studying Risk Management

As specific risks vary significantly from one organisation to the next, experience counts for a great deal. However, it is first important to understand both the core theory of risk management and the primary duties of those working in the field.

Studying risk management can help build a deeper understanding of the various risk classifications, risk identification strategies and how to begin prioritising identified risks. A strong educational background can also help build professional risk analysis competencies, an understanding of how risk management influences business operations and how to both develop and implement a long-term risk management plan. All our risk assessment training courses are fully accredited.

It is these industry insights and crucial theory that lay the foundations for extraordinary careers in a highly respected professional specialism.

  • Salary– Qualified risk managers entering the profession for the first time can expect to start around the £21,000 mark. For an experienced risk analyst with a couple of years’ experience, salaries vary between £30,000 and £40,000. As for senior risk managers and those working at executive levels, it is possible to take home in excess of £70,000 plus benefits.
  • Working Life– Risk management is a predominantly office-based role, though can involve a great deal of travelling from site to site. Working hours general fall between standard UK office hours (9am to 5pm) though out-of-office hours may become standards at more senior levels.
  • Potential Employers – Some of the biggest employers of risk management professionals include the NHS, major banks and building societies, insurance companies, local authorities, utility companies, construction companies, charities and engineering firms.
  • Self-Employment– Experienced risk managers routinely branch out on their own to establish their own consultancies.

Risk Management Courses at Oxford Home Study College

Here at Oxford Home Study College, we’re proud to offer a range of world-class risk management training of the highest calibre. Each of our Level 2, Level 3 and Level 4 courses has been designed with distance learning in mind, with all course materials supplied as standard.

Explore the basics of the profession with our Level 2 risk management course online, or begin working toward a high-flying career with our Level 4 risk management certification online. With full tutor support throughout your studies, we make distance learning accessible and enjoyable for everyone. we have recently added a huge catalogue of free online courses to our website.

For more information on any our risk management training or to discuss enrolment, get in touch with our admissions team today on + 44 01865 686162, or drop us a line at [email protected]