Risk Management: Risk Identification Methods

In Risk Management: Risk Identification Methods, you'll learn ...

• How to identify the various risk factors
• What to do with data collected during risk identification
• How to initiate the risk identification process

Overview

Credit: 1 PDH

Length: 24 pages

THIS COURSE SHOULD NOT BE TAKEN TO FULFILL PDH REQUIREMENTS IN THE FOLLOWING STATES: NY, IL, MD, MI, NE

This course is part of a series of six (6) courses covering the topic of Risk Management. There are no pre-requisites needed for any of the courses. If you have limited knowledge of risk management, you would benefit most by starting with the course “The Risk Management Process”.

The remaining courses can be taken in any order or as a “stand-alone” course, based on your needs and interests. The most logical course order if you are seeking to expand your overall knowledge in the field of risk management would be:

1. The Risk Management Process
2. Risk Identification Methods
3. Risk Analysis Methods
4. Risk Control Methods
5. Risk Financing Methods
6. Risk Management Program Administration, Review and Evaluation

The identification of risk is the initial step in the risk management process, and this course, “Risk Identification Methods”, will provide a deeper understanding of the methods and applications used to identify risk within a project or business venture.

Risk identification must be a deliberate and systematic process that is intended to determine and document the risk factors to which the organization or project is or may be exposed.

Through this module the you will gain an understanding of the four logical classifications of risk exposures (property, human capital, liability, and net income), the three types of risk exposure sources (strategic, operational and project), how to initiate the risk identification process, methods used to identify risk, what to do with the data collected during the risk identification process, and assigning ownership for identified risk factors to establish accountability.