This course is aimed at risk practitioners who want to gain an understanding of risks associated with strategy, projects and change with an in-depth look into the tools to analyze these risks.
In this course, we cover the different stages of strategic decisions, from the upfront decision, execution of projects, and final delivery into operations. We consider the different stages of risk throughout these transitions, and provide tools and techniques to integrate strategic and project risks into a broader risk framework.
We walk through the process of future risk assessments to ensure that not only is the project executed well, but that surprises are not delivered in new operating models.
Course Overview
1. The need for better strategic & project risk management
- Objectives and the risk / reward pyramid
- Strategic objectives versus operational objectives
- Common problems in managing strategic risk
- Benefits of effective strategic and project risk management
2. Understanding the risk in strategy and change
- Relationship between strategic decision, execution and delivered risk
- Process of change
- Strategic risks as part of a risk taxonomy
3. Strategic decision risk
- Analyzing drivers of suboptimal decisions with risk bow tie analysis
- Differentiating upfront decision risk and ongoing decision risk
- Identifying the drivers of ongoing decision risk
- Factoring in environmental drivers (e.g. competitor behavior, customer behavior, technology disruption, regulatory change etc.)
- Decision tools to make optimal risk/reward decisions
- Key controls to manage decision risks
4. Risk-based decision making
- An overarching decision making process
- The Can I / Should I test
- Introduction to decision tools
5. Strategic Execution Risk
- Identifying project execution objectives of time, cost and quality
- Understanding the drivers of execution risk using Bow Tie analysis
- Controls over execution risks
6. Strategic Delivered Risk
- Common problems with delivered risk
- Identifying the business as usual risks that will be materially impacted by the change
- Carrying out a future state risk assessment and responding to that assessment
- Keeping the delivered risk assessment current and factoring in change requests
- Benefits realization risk
- The importance of the post implementation review
- Factoring learnings back into the risk management process
7. Strategic & Project Risk as Part of Enterprise Risk Management
- Applying the ISO 31000 process to strategic risks
- Integrating strategic risks into an Enterprise Risk Management Framework
- Applying common risk processes to strategic risks
- Risk and Control Self-Assessments
- Key Risk Indicators
- Controls Assurance
- Incident Management
- Issues and Actions
- Risk In Change
8. Risk Appetite for Strategic, Project and Delivered Risk
- How risk appetite applies to the different types of strategic risk
- Applying metrics and tolerances to strategic risks
- Using risk appetite in decision making
9. Managing Strategic and Project Risk
- Lifecycle of project risk management
- Aligning risk activities with stages of strategic decisions and projects
- Post-implementation reviews
10. Responsibilities and Governance Structures
- The 3 Lines Model and its application to change risk
- Roles, ownership, responsibilities and accountabilities
- Driving the right culture to support effective and efficient change risk management
11. When Strategic & Project Risk Management is practiced
- Cadence of risk management
- Managing risk across different stages of risk
Course Expectations
- Watch 11 x videos
- Access 11 x downloadable materials
- Answer 4 x knowledge tests
- Review 1 x Case study
- 2 x interactive examples
- Answer 10 quiz questions
- Time 3.5 hours of video content
- Approximately 4.5 hours for the whole course
