Assessing & Managing Risk
Today, risk management is different. It’s a planned process designed to identify, mitigate, and evaluate our exposure to risk. Risk assessment is a stage of risk management. Controls are specific activities undertaken to reduce exposure to risk.
In this course, we’ll clarify the difference between risk management and risk assessment. We’ll also describe a five step process commonly used in risk management, and then highlight basic categories of risk controls and assessments.
Course Learning Outcomes:
- What is a risk assessment, and why would we prepare one?
- Understand how to carry out a risk assessment
- Understand the general principles of prevention
- Understand the Hierarchy of Controls
- Learn how a risk assessment determines the most likely impacts so that contingency plans can be developed to prevent or mitigate them.
- Identify the types of activities that will be undertaken to reduce the probability of a negative outcome.
- Implement the controls selected
- Evaluate the effectiveness of the controls.
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