Top rated risk management basic courses teach you the skills to identify, assess and mitigate risk. They follow a systematic approach covering the risk management process and the METT-TC framework.
You will learn to categorise risk using a risk assessment matrix, understand the adverse event’s effect, and implement controls through education and hazard elimination.
The courses also highlight the importance of continuous monitoring and evaluation to adapt to changing conditions. Plus extensive resources and support including study guides and instructor support to help you understand and apply risk management principles. More below.
Quick Links
Study guides to help you understand the risk management process and framework. Practice exams to help you apply risk management concepts.
Instructor support to help with complex questions and real world risk management. Continuous monitoring and evaluation. Risk management across all phases of the mission.
Risk management is a discipline that ensures mission success and resource protection. It’s a systematic approach to identifying hazards, evaluating risk and controlling them.
During mission planning these basics are critical. The risk assessment matrix is a key tool that categorises risk into levels – catastrophic, critical, moderate or negligible – based on the answer level of an adverse event.
Consider the mission environment, enemy, terrain and weather, troops and equipment, time and civil considerations.
Risk Management and Risk Assessment Matrix
To navigate risk in any mission, the risk management (RM) process consists of five steps. This structured approach applies the risk management basics.
Step 1: Identify hazards – What are the risks? Use the METT-TC framework to assess hazards related to the mission. To answer, identify hazards as the first step in the risk management process.
Step 2: Develop controls and make risk decisions. Implement controls.
And then supervise and evaluate throughout the mission.
- Identify hazards
- Assess hazards
- Develop controls and make risk decisions
- Supervise
Risk Mitigation and Implement Controls
To mitigate risk you need a strategic approach with multiple controls.
Risk management basic course answers highlight the importance of identifying hazards and looking at the risks to determine the severity.
Implementing risk mitigation involves developing controls such as education controls, physical controls and hazard elimination controls. These controls reduce or eliminate the identified risks.
And making informed risk decisions is important too. Continuous monitoring of these controls ensures they stay effective over time and can be adjusted as needed.
Risk Monitoring and Review
Monitoring and reviewing risk is key to a robust risk management framework.
Risk monitoring is continuous evaluation and examination of risk to ensure risk controls are effective. By having structured review processes organisations can ensure risks are current and controls are up to date.
Monitoring is key to identifying hazards and opportunities for improvement.
- Evaluate risks regularly to adapt to changing environment
- Examine controls to ensure they meet objectives
- Identify new risks through ongoing risk evaluation
- Encourage a culture of continuous improvement in risk management
These also improve risk management and overall organisational resilience and preparedness.
Risk Management Framework
A structured risk management framework allows organisations to identify, assess and control risk. This framework includes a risk assessment matrix that categorises risk as catastrophic, critical, moderate or negligible.
The process involves five steps: first organisations answer the big question – identify hazards. Then they assess hazards to understand the impact. Then they develop controls and make risk decisions.
Next, implementing controls is critical to managing the hazards identified. Then organisations need to supervise and evaluate throughout the mission.
Risk Management Implementation
Risk management implementation is all about understanding the risk management process and framework.
Key to this implementation is identifying hazards, evaluating risk and applying the controls. This is especially important in high risk environments like combat patrols in a foreign city where the civil considerations factor is high.
Monitoring is needed to adapt to changing circumstances such as unexploded ordnance which can cause serious injury if not managed correctly.
- Identify hazards early
- Evaluate risk continuously
- Implement and review controls
- Risk management throughout all phases of the mission
Course Resources
While navigating the risk management complexities students get a lot of resources and support in this course. These course resources include study guides and practice exams to help you understand the RM process and framework.
With online access students can use these resources at any time. The instructor support team is also available to answer questions and provide guidance on the basics and practical application.
These resources and support help develop risk management skills and give students the knowledge to manage challenges with confidence. Overall they add value to the learning.
Conclusion
In summary mastering the basics of risk management is key to success in many areas. By understanding the risk management process, implementing risk mitigation and using a robust framework individuals can improve their decision making. Monitoring and reviewing risk ensures risk is managed proactively. With the right resources and support anyone can navigate risk management and apply proven solutions to their course and professional needs.
Chris Ekai is a Risk Management expert with over 10 years of experience in the field. He has a Master’s(MSc) degree in Risk Management from University of Portsmouth and is a CPA and Finance professional. He currently works as a Content Manager at Risk Publishing, writing about Enterprise Risk Management, Business Continuity Management and Project Management.