All organizations are exposed to risk. Many private, public and not-for-profit organizations don’t have a risk management function.
Organizations that manage risk effectively are less likely to be negatively affected by uncertainties and can turn many of them into positive outcomes because they are better prepared for them in advance.
Organizations that plan for and manage risk enhance their credibility with those customers, donors, regulators, and investors who understand the importance of this governance tool.
Boards have a fiduciary responsibility to ensure proper governance of their organization. Risk management is increasingly being regarded as a necessary component of board governance.
Typically over one week, your employees will learn enough about risk management to be able to identify risks, prioritize them, determine if your high risks are adequately managed, define strategies to mitigate most of them and understand their options for those risks they can’t mitigate on their own.
Your employees won’t become professional risk managers in just one week. Rather, they will become more risk aware so that they are able to manage your organization’s risk better within your current resource capacity.