Introduction:
This course is designed to run for five (5) days. Its principal areas of focus include information precision, loss prevention fundamentals, risk assessment techniques, decision analysis tools, and many more. It is intended to provide professionals with the tools they need for risk assessment and analysis. The course employs an interdisciplinary method to emphasize the significance of a structured framework for decision-making that will enhance risk-taking behavior.
Course Objectives
Risk-Based Decision-Making Training Course is aimed at the following objectives:
- Understand the relevance and need for Risk Based Decision Making in the present business scenario
- Encourage structured decision making
- Enable the participants to correctly apply problem-solving and decision-making tools in appropriate situations
- Identify common challenges and barriers encountered during risk-based decision making
- Learn to apply risk assessment tools and methods in practical situations
- Understand the value of the human element in efficient decision making
- Evaluate risk and unable smooth implementation of decisions
- Guide about techniques and tools available for timely review of decisions
Organizational Benefits
Successful completion of the training course will benefit an organisation in the following ways:
- Improved quality of decision making as decisions would incorporate various risk elements and probable losses which would make it more dynamic
- Explore the negative effect decision outcome might have on different stakeholders
- Enhanced risk communication skills will encourage smooth processing of operations
- Identify and overcome barriers to risk-based decision making
- Establish risk goals for better risk management and risk control
- Benefit from the application of risk assessment tools
- Decision makers will gain a better understanding of their role as managers
- Early identification of risks that may impact stakeholders or projects negatively will allow faster risk mitigation measures and hence timely attainment of set goals
 Personal Benefits
Successful completion of the training course will benefit an individual in the following ways:
- Develop a broad mindset which encourages an innovative approach to decision making
- Learn to take and rightly implement quality decisions
- Gain skills to explore the nature of available data and information
- Overcome common blocks to effective decision-making and risk communication
- Determine the preferred style of decision making
- Gain knowledge of the latest tools and techniques being used in the industry
- Gain job advancing skills with industry relevant training certification which will aid in career development
- Receive personalized feedback from experts and assist in self-evaluation
 Who Should Attend?
- Chief executive officers, Chief Operating officers
- Departmental heads
- General managers
- Strategic managers
- Business Analysts
- Business policymakers
- Entrepreneurs
- Start-up founders
 Course Outline
Module 1: Introduction to Risk-Based Decision Making
- Need of risk-based decision making
- Informal vs. formal risk-based decision making
- Understanding the process and steps involved
- Establishing decision structure
- Human variable
Module 2: Characterizing Risk
- Qualitative description of risk
- Quantitative description of risk
- Risk characterization principles: transparency, clarity, consistency
- Risk matrix
Module 3: Basics of Risk Identification
- Process of risk identification
- Identifying risk response options
- Risk impact analysis
- Risk prioritisation analysis
- Risk tracking
Module 4: Understanding Risk Assessment
- Elements of risk
- Risk reduction methods
- Risk assessment methods: structured, predictive, adaptive
- Life cycle approach
- Levels of risk assessment
Module 5: Basics of Risk Management
- Establishing risk goals
- Understanding risk acceptance
- Categories of risk management strategies
Module 6: Challenges in Risk-Based Decision Making
- Information uncertainty
- Information precision
- Data uncertainty
- Understanding resource needs
Module 7: Risk Communication
- Need for risk communication
- Risk communication cycle
- Principles of risk communication
- Stakeholder involvement
Module 8: Risk Assessment Tools
- Pareto analysis
- Checklist analysis
- Preliminary risk analysis
- Failure Modes and Effect Analysis (FMEA)
- Fault tree analysis
- Event tree analysis
Module 9: Risk Evaluation
- Methods for comparing
- Evaluating risk response options
- Measuring risk attitudes
- Usage of Risk evaluation in risk treatment
- Steps in performing risk evaluation
- Risk monitoring
Module 10: Decision Analysis
- Organisation decision process
- Decision analysis application
- Decision analysis skills
- Framing decision opportunity
- Decision tree
Method of Instruction:
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Online
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Course Duration:
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5 Days
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 Type of Certificate Issued:
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Certificate in Risk Based Decision Making
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You can choose any of the three below:
- Digital Certificate(Downloadable PDF)
- Physical Certificate with security marking shipped to your location with a price
- Framed Certificate with security markings shipped to your location with a price.
REGISTRATION
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