<span data-sheets-value="{"1":2,"2":"This unit standard is designed to provide credits towards the mathematical literacy requirements of the NQF at level 4. The mathematical literacy requirements' essential purpose is that, as the learner progresses with confidence through the levels, the learner will grow in an insightful use of mathematics in managing the needs of everyday living to become a self-managing person. An understanding of mathematical applications that provides insight into the learner`s present and future occupational experiences and so develop into a contributing worker. The ability to voice a critical sensitivity to the role of mathematics in a democratic society and become a participating citizen. People credited with this unit standard can measure, estimate, and calculate physical quantities in practical situations relevant to adults with increasing responsibilities in life or the workplace. Explore, analyse, critique, describe, represent, interpret and justify geometrical relationships and conjectures to solve problems in two and three-dimensional geometrical situations."}" data-sheets-userformat="{"2":15233,"3":{"1":0},"10":2,"11":4,"12":0,"14":{"1":2,"2":0},"15":"Calibri, sans-serif","16":11}">Risk management is the process of identifying, assessing and controlling threats to an organisation’s capital and earnings.

Monitor, Assess and Manage Risk: Protect Your Business and Career

This course helps young professionals and aspiring entrepreneurs understand how to monitor, assess, and manage risk confidently and professionally, with the help of strong communication skills and clear decision-making.

What Does It Mean to Monitor, Assess and Manage Risk?

Monitoring risk means being alert and aware of what could go wrong in a business or workplace.
Assessing risk involves looking at how serious a problem could be and how likely it is to happen.
Managing risk means putting strategies in place to reduce, avoid, or deal with the problem if it arises.

What You Will Learn in This Course

An understanding of risk categories in the workplace and in business.
Step-by-step guidance on risk monitoring, assessment, and planning.
Confidence to raise concerns and suggest improvements.
Real-world examples of effective risk management
Better communication skills for keeping people informed and prepared.

Overview

Risk management is the process of identifying, assessing and controlling threats to an organisation’s capital and earnings.

Description

Risk management is the process of identifying, assessing and controlling threats to an organisation’s capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. IT security threats and data-related risks, and the risk management strategies to alleviate them, have become a top priority for digitised companies. As a result, a risk management plan increasingly includes companies’ processes for identifying and controlling threats to its digital assets, including proprietary corporate data, a customer’s personally identifiable information and intellectual property.

Course Content

Unit 1: Understanding risk

1.1 (incl 1.2) Understanding risk
1.3 Concept of risk management
1.4 (incl. 1.5, 1.5.1 & 1.5.2) Factors that can constitute risks
1.5.3 Employment equity act
1.6 Financial risks
1.7 Operational risk
1.7.1 Health and safety risks
1.7.2 Environmental risks
1.8 Organisational policies and procedures

Unit 2: Risk identification and assessment

2.1 (incl. 2.2, 2.3 & 2.3.1) Risk identification and assessment
2.3.2 Identifying prospective risks
2.3.3 Conducting interviews
2.4 Scenarios that can constitute a risk
2.4.1 (incl. 2.4.2 – 2.4.4) Financial risk
2.4.5 (incl. 2.4.6 & 2.4.7) Goodwill risk
2.4.8 Risk of staff loss
2.5 (incl. 2.6 & 2.6.1) Risk identification template
2.6.2 Impact analysis
2.6.3 Analysis techniques
2.7 Risk strategies
2.8 Risk register

Unit 3: Developing contingency plans

3.1 (incl. 3.2 & 3.2.1) Developing contingency plans
3.2.2 Plan development and implementation
3.3 Communicating contingency plans
3.4 Storage of contingency plans

Unit 4: Testing and revising contingency plans

4.1 (incl. 4.2 & 4.3) Testing and revising contingency plans
4.4 Recommendations on improvements to contingency
4.5 Revising contingency plans

Accreditation

Non-accredited: Short course only
Duration: 1h 30m
Delivery: Classroom/Online/Blended
Access Period: 12 Months