What is Risk Management

22 November 2019

Risk Management can be described as a set of activities within an organisation undertaken to deliver the most favourable outcome and reduce the volatility or variability of that outcome (Hopkin, 2017).

The term Risk Management is commonly used these days and stems mainly from a financial background although is used widely across all departments within an organisation. Some important areas of are the identification, assessment, mitigation and recovery from risk.

When it comes to training then it is beneficial to learn from an experienced tutor, someone who not just has knowledge of the subject but also experience working within a risk based environment. There are many training courses based around Risk Management from Masters degrees through to introduction courses, with one day introduction courses providing a valuable knowledge injection to various staff members within an organisation.

Our lead trainer has a Masters degree in Risk Management amongst other related security and risk qualifications, in addition to this they have 20+ years on the job experience within a risk and security environment. This level of knowledge allows for real life scenarios and experience to be passed on to delegates.

So, what is Risk Management and how can it benefit our organisation?

The benefits of risk management are not to be taken lightly as even understanding the basics of risk management will help any organisation. This includes an organisation going out of business if one or more of the risks are realised.

With the correct level of training then it is possible for an individual and an organisation to better prepare themselves in terms of risk. This includes identifying the risk initially and then taking action to reduce or mitigate. There may be generic risks but then there could also be risks that are specific to an organisation or industry.