Operations, Risk Management and Mitigation

Course Introduction

Effective risk management is crucial for any successful operation, enabling organizations to seize opportunities, minimize threats, and optimize results. Despite its importance, risk management is often approached reactively or, in some cases, neglected altogether.

This Operations Risk Management and Mitigation training course emphasizes a proactive approach to managing both threats and opportunities.

Participants will engage with a proven six-step methodology covering risk planning, identification, analysis, and control.

Designed for operations teams and businesses across all sectors where operations are central to their success, this course will help you accurately and efficiently identify, quantify, and mitigate risks that could disrupt or derail your operations. The content is tailored for personnel involved in or responsible for the successful delivery and continuity of operations.

The training is grounded in the latest PMBOK 6th edition and incorporates the principles of ISO 31000:2009, “Risk Management - Principles and Guidelines,” and ISO 31010:2009, “Risk Assessment Techniques.”

This training course will feature:

• Risk Management Planning
• Operations Context and Risk Boundaries
• Risk Identification
• Risk Analysis & Evaluation
• Risk Response Planning, Implementation & Control
• Applied Operations Risk Simulation

Training Objectives

By the end of this training course, participants will be able to:

• Develop an overview of the Risk Management Process
• Learn to identify risks that affect operational safety, time, cost and quality
• Apply useful techniques to identify, analyse and mitigate risks throughout the operations life-cycle
• Learn how to create an effective risk monitoring plan and risk management strategies
• Use a practical, six-step process to manage operations risks
• Develop a risk management budget based on Expected Monetary Value (EMV)

Training Methodology

The training methodology will incorporate both theory and skill training components, utilizing traditional lectures, hands-on exercises, group discussions and case studies.

Who should Attend?

This training course is tailored for all operations professionals and managers who are either involved in, or responsible for, the continuous and safe operability of their facilities. Whether you are engaged as a Plant Manager, Operations Supervisor, Maintenance Technician or any other operational specialist, understanding how to identify, assess and manage operational risk is crucial to both your own daily job tasks and the continued safe operability of the facilities you work in.

This training course is suitable for a wide range of professionals but will greatly benefit:

• Operations team leaders, supervisors, section heads and managers
• Business and operations professionals who have an interest in risk management
• Maintenance managers, engineers and technicians
• Technical professionals involved in operations start-up, maintenance and shut-down
• Business administrative, procurement and support staff
• All personnel involved in carrying out operations work assignments

Day One: Risk Management Framework and Planning

• The Six Risk Management Processes
• Purpose & Benefits of Risk
• Responsibilities in Risk Management
• Integrating Risk Management into the Operations Management Process
• Risk Management Planning
• Risk Planning Process

Day Two: Risk Identification Processes

• Operations Context & Stakeholders
• Risk Identification Inputs
• Risk Identification Tools & Techniques
• Consequential Risk Identification
• Risk Identification Outputs
• Risk Planning & Identification Exercises

Day Three: Risk Assessment and Quantification Processes

• Operations & Maintenance Estimating Techniques
• Schedule Diagramming - Critical Path Method (CPM)
• Program Evaluation & Review Technique (PERT)
• Qualitative Risk Analysis
• Quantitative Risk Analysis
• Risk Assessment Exercises

Day Four: Risk Response Plan Development

• Risk Prioritisation
• Risk Response Strategy Guidelines
• Response Strategies for Threats & Opportunities
• Response Planning & Analysis
• Alternative Responses & Response Validation
• Risk Response Planning Exercises

Day Five: Risk Response Implementation & Control

• Risk Control Guidelines
• Risk Control Inputs
• Risk Control Tools & Techniques
• Risk Control Outputs
• Risk Reporting & Documenting
• Risk Management Simulation