The course begins with a detailed exploration of the objectives, limitations and general applications of risk management in the workplace. Candidates study the roles and responsibilities of those who work in a risk management capacity, along with a series of essential risk management tools, key risk management activities and the potential consequences of ineffective risk management.

A detailed overview of several major risk classifications follows in the second module, with examples of each type of risk and its capacity to affect business performance. Risk classifications discussed include liquidity risk, financial risk, market risk, operational risk, technological risk, economic risk, political risk, legal risk and more.

Module three provides an in-depth introduction to the concept and applications of enterprise risk management (ERM). Primary ERM roles and responsibilities are discussed, along with how a business must take risks at a variety of levels to meet its objectives.

Candidates then discuss the process of analysing the effectiveness of an existing risk management framework, in order to make improvements and expansions of coverage where necessary. Learners study a breakdown of the effective risk assessment process and learn how to carry out workplace risk assessments.

Module five examines the first key stage in the risk management process – the identification of risks. A variety of internal and external threats are discussed, along with the effective use of a risk register and how to consider risks contextually while factoring in the potential rewards.

The process of evaluating risks identified during the risk assessment is detailed in module six, which outlines the importance of a business-wide risk response strategy. Candidates learn how to plan and implement control measures to both monitor and mitigate threats at a variety of levels.

A detailed introduction to financial risk management follows in module seven, outlining the various different types of monetary threats a business may face. Examples of which include currency risk, foreign investment risk, environment risk, liquidity risk, recovery risk, counterparty risk, general investment risk and more.

Operational risk management (ORM) is discussed at length in module eight, with a strong focus on regulatory and statutory requirements in business. The development, implementation and optimisation of an operational risk strategy is examined, along with the responsibilities and duties of the ORM specialist.

In module nine, course content covers both the threats and opportunities presented by technology in a risk management setting. Cyber-crime and identity theft are discussed, alongside other types of internal and external technological risks, potential measures for preventing/deterring attacks and more.

Candidates then learn how and why an organisation must plan for and deal with a variety of risks over which it has no direct control. A series of key legal and political risks are outlined and explored, along with a detailed breakdown of contractual risk in a business environment.

Effective techniques for analysing and managing environmental risk are discussed in module 11, which also details several common types of environmental risk. Candidates learn about the growing importance of taking a proactive approach to environmental preservation, along with how to carry out a detailed environmental risk assessment.

In module 12, the conceptual framework known as social risk management (SRM) is discussed, along with effective social risk assessment techniques. Candidates study the value and importance of considering an organisation’s impact (positive or negative) at a social level.

The course concludes with a detailed breakdown of the effective risk management plan, along with crucial tips for its successful implementation. Each step of the risk management planning process is explored, both individually and as part of a cohesive framework.