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